St Bees School Management Company Limited 31/08/2025 iXBRL

Company registration number: 10812320

St Bees School Management Company Limited

Unaudited filleted financial statements

For the year ended

31 August 2025

St Bees School Management Company Limited

Contents

Statement of financial position

Notes to the financial statements

St Bees School Management Company Limited

Statement of financial position

31 August 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	3	447,513		494,477
		________		________
			447,513		494,477

Current assets
Stocks		-		602
Debtors	4	383,250		312,561
Cash at bank and in hand		96,822		154,056
		________		________
		480,072		467,219
Creditors: amounts falling due
within one year	5	( 9,609,184)		( 8,681,496)
		________		________
Net current liabilities			( 9,129,112)		( 8,214,277)
			________		________
Total assets less current liabilities			( 8,681,599)		( 7,719,800)

Creditors: amounts falling due
after more than one year	6		-		( 7,903)
			________		________
Net liabilities			( 8,681,599)		( 7,727,703)
			________		________

Capital and reserves
Called up share capital			4		4
Profit and loss account			( 8,681,603)		( 7,727,707)
			________		________
Shareholders deficit			( 8,681,599)		( 7,727,703)
			________		________

For the 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 April 2026 , and are signed on behalf of the board by:

Mr L J R Gribble

Director

Company registration number: 10812320

St Bees School Management Company Limited

Notes to the financial statements

Year ended 31 August 2025

1. Accounting policies

Basis of preparation

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At 31 August 2025 the company had a deficiency of assets, and has generated further losses post year end. The directors have confirmed that the company has the continuing operational and financial support of its investors, Full Circle Education Limited, and that there is no intention to cease trading within 12 months of the date of their report. The accounts have been drawn up on a going concern basis.

Turnover

Turnover consists of the sales value, excluding VAT, of all income earned in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	10 %	reducing balance
Computer equipment	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.

Basic financial instruments are recognised at amortised cost.

Defined contribution plans

The company operates a defined contribution pension scheme and the pension charge represents the amount payable by the company to the funds in respect of the year.

2. Employee numbers

The average number of persons employed by the company during the year amounted to 47 (2024: 49 ).

3. Tangible assets

	Fixtures, fittings and equipment	Computer equipment	Total
	£	£	£
Cost
At 1 September 2024	984,530	55,050	1,039,580
Additions	-	5,467	5,467
	________	________	________
At 31 August 2025	984,530	60,517	1,045,047
	________	________	________
Depreciation
At 1 September 2024	493,159	51,944	545,103
Charge for the year	49,136	3,295	52,431
	________	________	________
At 31 August 2025	542,295	55,239	597,534
	________	________	________
Carrying amount
At 31 August 2025	442,235	5,278	447,513
	________	________	________
At 31 August 2024	491,371	3,106	494,477
	________	________	________

4. Debtors

	2025	2024
	£	£
Trade debtors	368,428	298,776
Other debtors	14,822	13,785
	________	________
	383,250	312,561
	________	________

5. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	7,905	10,312
Trade creditors	108,303	110,886
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,153,003	7,510,503
Taxation and social security	320,328	119,629
Other creditors	1,019,645	930,166
	________	________
	9,609,184	8,681,496
	________	________

6. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	-	7,903
	________	________

7. Pension commitments

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension charge for the year includes contributions payable to defined contribution schemes of £168,754 (2024: £158,884). At the balance sheet date, unpaid contributions of £22,983 (2024: £21,753) were due to the funds. These are included in other creditors.

8. Controlling party

The company is a Joint Venture entity in which 75% of the share capital is owned by Full Circle Education Limited (company number 11678133), and 25% of the share capital is owned by St Bees School (company number 06595861, charity number 1129534).

9. Going concern

At 31 August 2025 the company had a deficiency of assets, and has generated further losses post year end. The directors have confirmed that the company has the continuing operational and financial support of its investors, Full Circle Education Limited, and that there is no intention to cease trading within 12 months of the date of their report. The accounts have been drawn up on a going concern basis.