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Financial Statements |
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Contents |
Page |
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Strategic report |
1 |
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Directors' report |
5 |
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Independent auditor's report to the members |
7 |
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Statement of comprehensive income |
11 |
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Statement of financial position |
12 |
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Statement of changes in equity |
13 |
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Statement of cash flows |
14 |
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Notes to the financial statements |
15 |
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Strategic Report |
| 2024 | 2023 | ||
| ROCE% | 9 | 5 | |
| Debtor days (Trade debtors/fees x 365) | 12 | 12 | |
| Current Ratio (Current Assets:Current liabilities) | 1 | 1 | |
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Director |
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Registered office: |
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Directors' Report |
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Director |
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Registered office: |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered Accountants & Statutory Auditor |
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72 Lyndhurst Road |
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Thornton Heath |
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Surrey |
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CR7 7PW |
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Statement of Comprehensive Income |
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2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------ |
------------ |
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Gross profit |
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Administrative expenses |
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Other operating income |
5 |
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------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
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------------ |
------------ |
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Profit before taxation |
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Tax on profit |
12 |
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--------- |
--------- |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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--------- |
--------- |
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Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
£ |
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Tangible assets |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
17 |
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------------ |
------------ |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Provisions |
19 |
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------------- |
------------- |
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Net assets |
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------------- |
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Called up share capital |
24 |
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Revaluation reserve |
25 |
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Capital redemption reserve |
25 |
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Profit and loss account |
25 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
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Statement of Changes in Equity |
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Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
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At 1st September 2022 |
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Loss for the year |
(
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(
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Other comprehensive income for the year |
23 |
– |
(
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– |
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– |
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--------- |
------------ |
---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
(
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– |
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(
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Dividends paid and payable |
13 |
– |
– |
– |
(
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(
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Redemption of shares |
– |
– |
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(
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– |
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--------- |
------------ |
--------- |
------------ |
------------ |
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Total investments by and distributions to owners |
– |
– |
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(
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(
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At 31st August 2023 |
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Profit for the year |
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Other comprehensive income for the year |
23 |
– |
(
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– |
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– |
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--------- |
------------ |
--------- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
(
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– |
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Dividends paid and payable |
13 |
– |
– |
– |
(
|
(
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---- |
---- |
---- |
--------- |
--------- |
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Total investments by and distributions to owners |
– |
– |
– |
(
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(
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--------- |
------------ |
--------- |
------------ |
------------ |
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At 31st August 2024 |
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--------- |
------------ |
--------- |
------------ |
------------ |
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Statement of Cash Flows |
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2024 |
2023 |
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£ |
£ |
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Profit/(loss) for the financial year |
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(
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Adjustments for: |
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Depreciation of tangible assets |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Loss on disposal of tangible assets |
– |
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Tax on profit |
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Accrued expenses |
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Changes in: |
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Trade and other debtors |
(
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(
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Trade and other creditors |
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------------ |
--------- |
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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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Tax paid |
(
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(
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------------ |
--------- |
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Net cash from operating activities |
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------------ |
--------- |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
– |
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------------ |
--------- |
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Net cash used in investing activities |
(
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(
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------------ |
--------- |
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Purchase of own shares |
– |
(
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Proceeds from borrowings |
(
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(
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Dividends paid |
(
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(
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------------ |
--------- |
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Net cash used in financing activities |
(
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(
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------------ |
--------- |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
1,848,835 |
2,282,332 |
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------------ |
------------ |
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Cash and cash equivalents at end of year |
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------------ |
------------ |
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Notes to the Financial Statements |
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Goodwill (Purchased) |
- |
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Long Leasehold Property |
- |
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Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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Equipment |
- |
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2024 |
2023 |
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£ |
£ |
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School Fees and related income |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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Other operating income |
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------- |
--------- |
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------- |
--------- |
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|
2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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Loss on disposal of tangible assets |
– |
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Impairment of trade debtors |
1,028 |
44 |
|
Operating lease rentals |
|
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|
--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
|
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|
-------- |
-------- |
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Other non-audit services |
|
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|
-------- |
-------- |
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2024 |
2023 |
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No. |
No. |
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Production staff |
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Administrative staff |
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Management staff |
1 |
1 |
|
---- |
---- |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Wages and salaries |
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Social security costs |
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Other pension costs |
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|
------------ |
------------ |
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------------ |
------------ |
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|
2024 |
2023 |
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£ |
£ |
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Remuneration |
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--------- |
--------- |
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|
2024 |
2023 |
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£ |
£ |
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Aggregate remuneration |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
|
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Interest on bank deposits |
|
– |
|
Other interest - Corporation tax repayment supplement |
– |
|
|
-------- |
-------- |
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-------- |
-------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
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Interest on banks loans and overdrafts |
|
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Dividends paid on shares classed as debt |
– |
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|
--------- |
--------- |
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--------- |
--------- |
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2024 |
2023 |
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|
£ |
£ |
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UK current tax expense |
|
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Origination and reversal of timing differences |
|
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|
--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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|
2024 |
2023 |
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|
£ |
£ |
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Profit on ordinary activities before taxation |
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--------- |
--------- |
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Profit on ordinary activities by rate of tax |
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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
|
(
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Other tax adjustment to increase/(decrease) tax liability - deferred tax movement |
|
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|
--------- |
--------- |
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Tax on profit |
|
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|
--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Dividends on ordinary Class A Shares |
|
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Dividends on ordinary Class C Shares |
– |
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|
--------- |
--------- |
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--------- |
--------- |
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|
2024 |
2023 |
|
|
£ |
£ |
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|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
– |
153 |
|
---- |
---- |
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Goodwill |
|
|
£ |
|
|
Cost |
|
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At 1st September 2023 and 31st August 2024 |
|
|
--------- |
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Amortisation |
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At 1st September 2023 and 31st August 2024 |
|
|
--------- |
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Carrying amount |
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At 31st August 2024 |
– |
|
--------- |
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At 31st August 2023 |
– |
|
--------- |
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At 1st September 2023 |
Additions |
At 31st August 2024 |
|
|
£ |
£ |
£ |
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|
Cost |
|||
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Land and buildings |
|
– |
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Plant and machinery |
|
– |
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|
Fixtures and fittings |
|
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|
Motor vehicles |
|
– |
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Equipment |
|
|
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|
------------- |
-------- |
------------- |
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------------- |
-------- |
------------- |
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At 1st September 2023 |
Charge for the year |
At 31st August 2024 |
|
|
£ |
£ |
£ |
|
|
Depreciation |
|||
|
Land and buildings |
|
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Plant and machinery |
|
|
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Fixtures and fittings |
|
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Motor vehicles |
|
|
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|
Equipment |
|
|
|
|
------------- |
--------- |
------------ |
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|
------------- |
--------- |
------------ |
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At 31st August 2024 |
At 31st August 2023 |
|
|
£ |
£ |
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|
Carrying amount |
||
|
Land and buildings |
|
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|
Plant and machinery |
|
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|
Fixtures and fittings |
|
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|
Motor vehicles |
|
|
|
Equipment |
|
|
|
------------- |
------------- |
|
|
|
|
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|
------------- |
------------- |
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|
2024 |
2023 |
|
|
£ |
£ |
|
|
Trade debtors |
|
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Prepayments and accrued income |
|
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|
Other debtors |
|
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|
------------ |
------------ |
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------------ |
------------ |
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|
2024 |
2023 |
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|
£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
|
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Corporation tax |
|
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Social security and other taxes |
|
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Director loan accounts |
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Other creditors |
|
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|
------------ |
------------ |
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------------ |
------------ |
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|
2024 |
2023 |
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|
£ |
£ |
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Bank loans and overdrafts |
|
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Other creditors |
|
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|
------------ |
------------ |
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|
------------ |
------------ |
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Deferred tax (note 20) |
|
|
£ |
|
|
At 1st September 2023 |
|
|
Additions |
|
|
------------ |
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At 31st August 2024 |
|
|
------------ |
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|
2024 |
2023 |
|
|
£ |
£ |
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Included in provisions (note 19) |
|
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|
------------ |
------------ |
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|
2024 |
2023 |
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|
£ |
£ |
|
|
Accelerated capital allowances |
|
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|
Revaluation of tangible assets |
|
|
|
------------ |
------------ |
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|
1,815,959 |
1,798,089 |
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|
------------ |
------------ |
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Revaluation reserve |
Profit and loss account |
Total |
|
|
£ |
£ |
£ |
|
|
Year ended 31st August 2024 |
|||
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Reclassification from revaluation reserve to profit and loss account |
(
|
|
– |
|
------- |
------- |
---- |
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|
Year ended 31st August 2023 |
|||
|
Reclassification from revaluation reserve to profit and loss account |
(
|
|
– |
|
--------- |
--------- |
---- |
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|
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
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|
1,000 |
1,000 |
1,000 |
1,000 |
|
|
100 |
100 |
100 |
100 |
|
|
850,000 |
850,000 |
850,000 |
850,000 |
|
|
925,000 |
925,000 |
925,000 |
925,000 |
|
------------ |
------------ |
------------ |
------------ |
|
|
1,776,100 |
1,776,100 |
1,776,100 |
1,776,100 |
|
|
------------ |
------------ |
------------ |
------------ |
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Notes to the Financial Statements (continued) |
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
755 |
|
755 |
|
|
|
100 |
|
100 |
|
|
|
850,000 |
|
850,000 |
|
--------- |
--------- |
--------- |
--------- |
|
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|
--------- |
--------- |
--------- |
--------- |
|
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At 1 Sep 2023 |
Cash flows |
At 31 Aug 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
2,208,048 |
|
|
Debt due within one year |
(373,590) |
103,763 |
(269,827) |
|
Debt due after one year |
(4,597,134) |
230,989 |
(4,366,145) |
|
------------ |
------------ |
------------ |
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|
(
|
|
(
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|
------------ |
------------ |
------------ |
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Notes to the Financial Statements (continued) |
|
2024 |
2023 |
|
|
£ |
£ |
|
|
Not later than 1 year |
|
|
|
Later than 1 year and not later than 5 years |
|
|
|
-------- |
-------- |
|
|
|
|
|
|
-------- |
-------- |
|
|
2024 |
|||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
|
£ |
£ |
£ |
£ |
||
|
|
(
|
(
|
|
(
|
|
|
|
(
|
(
|
|
(
|
|
|
--------- |
--------- |
--------- |
-------- |
||
|
(
|
(
|
|
(
|
||
|
--------- |
--------- |
--------- |
-------- |
||
|
2023 |
|||||
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
||
|
£ |
£ |
£ |
£ |
||
|
|
(
|
(
|
|
(
|
|
|
|
(
|
(
|
|
(
|
|
|
--------- |
--------- |
--------- |
--------- |
||
|
(
|
(
|
|
(
|
||
|
--------- |
--------- |
--------- |
--------- |
||
| Ordinary Shares Dividend | Preference Shares Dividend | ||
| £ | |||
|
|
160,843 | ||
|
|
186,157 | 153 | |