Thetford Grammar School Limited

(Registration number: 10756483)
Balance Sheet as at 31 December 2024

	Note	31.12.24		31.12.23
		£	£	£	£
FIXED ASSETS
Intangible assets	5		337,567		472,077
Tangible assets	6		5,572,422		5,607,660
			5,909,989		6,079,737
CURRENT ASSETS
Debtors	7	314,363		243,231
Cash at bank and in hand		68,532		37,586
		382,895		280,817
CREDITORS
Creditors within 1yr	8	1,260,896		1,219,498
Net current liabilities			(878,001)		(938,681)
Total assets less current liabilities			5,031,988		5,141,056
Creditors Amounts falling due after more than one year	8		-		19,694
Net assets			5,031,988		5,121,362
CAPITAL AND RESERVES
Called up share capital	9		5,760,480		5,760,480
Other reserves			1,579,500		1,579,500
Profit and loss account			(2,307,992)		(2,218,618)
Shareholders' funds			5,031,988		5,121,362

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Thetford Grammar School Limited

(Registration number: 10756483)
Balance Sheet as at 31 December 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2025

......................................... J Liu Director

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thetford Grammar School
Bridge Street
Thetford
IP24 3AF
England

These financial statements were authorised for issue by the director on 23 September 2025.

2.	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax credit for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	The freehold property is maintained to a high standard and no depreciation is charged as in the opinion of the directors any such sum is immaterial
Plant and machinery	From 5 to 15 years
Computer equipment	From 3 to 10 years

The useful lives of the fixed assets were reviewed and adjusted as considered appropriate by the director.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3.	Staff numbers

The average number of persons employed by the company during the year, was 75 (2023 - 75).

4.	Loss before tax

Arrived at after charging/(crediting)

	31.12.24 £	31.12.23 £
Depreciation expense	21,606	19,538

Tax losses of approximately £1.7m are availble for offset against future profits. Thus, deferred tax has not been provided as these losses can be offset.

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5.	Intangible assets

	Goodwill £
Cost or valuation
At 1 January 2024	1,345,106
At 31 December 2024	1,345,106
Amortisation
At 1 January 2024	873,029
Amortisation charge	134,510
At 31 December 2024	1,007,539
Carrying amount
At 31 December 2024	337,567
At 31 December 2023	472,077

6.	Tangible assets

	Freehold property £	Fixtures and fittings £	Plant and machinery £	Computer equipment £	Motor vehicles  £
Cost or valuation
At 1 January 2024	5,417,990	264,823	23,000	147,441	16,014
Additions	-	6,886	-	4,510	-
Movement due to VAT	(1,410)	(7,950)	-	(4,638)	(1,157)
At 31 December 2024	5,416,580	263,759	23,000	147,313	14,857
Depreciation
At 1 January 2024	-	135,439	22,338	97,692	6,139
Charge for the year	-	17,740	662	9,874	3,203
At 31 December 2024	-	153,179	23,000	107,566	9,342
Carrying amount
At 31 December 2024	5,416,580	110,580	-	39,747	5,515
At 31 December 2023	5,417,990	129,384	662	49,749	9,875

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6	Tangible assets (continued)

	Total £
Cost or valuation
At 1 January 2024	5,869,268
Additions	11,396
Movement due to VAT	(15,155)
At 31 December 2024	5,865,509
Depreciation
At 1 January 2024	261,608
Charge for the year	31,479
At 31 December 2024	293,087
Carrying amount
At 31 December 2024	5,572,422
At 31 December 2023	5,607,660

Thetford Grammar School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7.

Debtors

Current	31.12.24 £	31.12.23 £
Trade debtors	213,352	138,577
Prepayments	33,715	37,357
Other debtors	67,296	67,297
	314,363	243,231

8.

Creditors

Creditors: amounts falling due within one year

	31.12.24 £	31.12.23 £
Due within one year
Trade creditors	277,626	43,541
Taxation and social security	128,534	88,540
Accruals and deferred income	19,220	36,773
Other creditors	835,516	1,050,644
	1,260,896	1,219,498