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Registration number: 03788077

Thorngrove School Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 August 2025

Thorngrove School Limited

Contents

Balance Sheet | 1 to 2
Notes to the Financial Statements | 3 to 8

Thorngrove School Limited

(Registration number: 03788077)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 3,632,458 | 3,649,874
Current assets |  |  |
Stocks | 6 | 12,500 | 12,500
Debtors | 7 | 770,882 | 34,562
Cash at bank and in hand |  | 188,161 | 522,594
|  | 971,543 | 569,656
Creditors: Amounts falling due within one year | 8 | (1,933,619) | (1,307,071)
Net current liabilities |  | (962,076) | (737,415)
Total assets less current liabilities |  | 2,670,382 | 2,912,459
Creditors: Amounts falling due after more than one year | 8 | - | (42,476)
Provisions for liabilities |  | - | (31,548)
Net assets |  | 2,670,382 | 2,838,435
Capital and reserves |  |  |
Called up share capital |  | 8 | 8
Retained earnings |  | 2,670,374 | 2,838,427
Shareholders' funds |  | 2,670,382 | 2,838,435

Thorngrove School Limited

(Registration number: 03788077)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 May 2026 and signed on its behalf by:

......................................... Mr N Broughton Director

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for school fees and related income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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:

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Asset class | Depreciation method and rate
Freehold land and buildings | Not depreciated
Leasehold property | Not depreciated
Motor vehicles | 20% on reducing balance basis
Office equipment | 15% on reducing balance basis
Fixtures and fittings | 15% on reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Taxation

| 2025 |  | 2024
| £ |  | £
Corporation tax | (9,456) |  | 9,456
Deferred tax | (31,548) |  | 2,109
| (41,004) |  | 11,565

4 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 64 (2024 - 64).

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

5 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 September 2024 | 3,486,836 | 342,172 | 414,885 | 140,428 | 4,384,321
Additions | - | 8,760 | - | - | 8,760
At 31 August 2025 | 3,486,836 | 350,932 | 414,885 | 140,428 | 4,393,081
Depreciation
At 1 September 2024 | - | 274,137 | 330,209 | 130,101 | 734,447
Charge for the year | - | 11,410 | 12,701 | 2,065 | 26,176
At 31 August 2025 | - | 285,547 | 342,910 | 132,166 | 760,623
Carrying amount
At 31 August 2025 | 3,486,836 | 65,385 | 71,975 | 8,262 | 3,632,458
At 31 August 2024 | 3,486,836 | 68,035 | 84,676 | 10,327 | 3,649,874

Included within the net book value of land and buildings above is £3,486,836 (2024 - £3,486,836) in respect of freehold land and buildings and £Nil (2024 - £Nil) in respect of long leasehold land and buildings.

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 12,500 | 12,500

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 720,324 | -
Prepayments | 39,402 | 34,562
Other debtors | 11,156 | -
| 770,882 | 34,562

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 89,627 | 52,887
Taxation and social security | 217,355 | 57,387
Other creditors | 1,626,637 | 1,196,797
| 1,933,619 | 1,307,071

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | - | 42,476

Thorngrove School Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 42,476

Bank borrowings

Bank borrowings and overdrafts are secured by: A Legal mortgage over property known as Thorngrove School, The Mount, Highclere, Newbury RG20 9PS. A limited joint & several guarantee from N J Broughton and C B Broughton for the principal sum of £2,600,000 plus interest and expenses. A debenture containing first ranking fixed and floating charges over all current and future undertakings of Thorngrove School Limited. A limited joint & several guarantee from N J Broughton and C B Broughton for the principal sum of £63,000 supported by counter indemnity from the borrower for the principal sum of £63,000. A limited joint & several guarantee from N J Broughton and C B Broughton for the principal sum of £300,000.

10 | Related party transactions

Other transactions with directors

Within other creditors there is a loan with a balance of £94,585 (2024: £143,604) owed to the directors.