Anglo Chinese School Of London Limited

trading as Kensington Wade

(Registration number: 10204398)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	436,423	495,241
Current assets
Debtors	5	442,838	483,150
Cash at bank and in hand		494,216	523,100
		937,054	1,006,250
Creditors: Amounts falling due within one year	6	(2,418,062)	(2,593,588)
Net current liabilities		(1,481,008)	(1,587,338)
Total assets less current liabilities		(1,044,585)	(1,092,097)
Creditors: Amounts falling due after more than one year	6	-	(8,333)
Net liabilities		(1,044,585)	(1,100,430)
Capital and reserves
Called up share capital		31	31
Share premium reserve		2,404,304	2,404,304
Retained earnings		(3,448,920)	(3,504,765)
Shareholders' deficit		(1,044,585)	(1,100,430)

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 28 May 2026 and signed on its behalf by:
 

......................................... Prof H W De Burgh Director

Anglo Chinese School Of London Limited

trading as Kensington Wade

Notes to the Unaudited 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:
Kensington Wade School
Fulham Palace Road
London
W6 9ER
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 is stated net of VAT and discounts and largely consists of tuition fee income, which is credited as income over the period of the relevant school term. This is achieved by using an apportionment basis over the period of the term. Where fees are received in advance of a term, the amounts are recorded as deferred income and included as part of creditors. Turnover other than tuition fee income is recognised as the performance obligations are satisfied.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Anglo Chinese School Of London Limited

trading as Kensington Wade

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

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
Leasehold Improvements	Depreciated over the life of the lease
Office Equipment	20% Straight Line

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Anglo Chinese School Of London Limited

trading as Kensington Wade

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

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.

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.

Defined benefit pension obligation

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £45,327 (2024: £94,103). The school withdrew from the scheme on 31 December 2024 and therefore nothing was accrued for in respect of contributions.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 37 (2024 - 37).

Anglo Chinese School Of London Limited

trading as Kensington Wade

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	415,709	208,907	624,616
Additions	1,000	9,307	10,307
Disposals	-	(1,714)	(1,714)
At 31 August 2025	416,709	216,500	633,209
Depreciation
At 1 September 2024	33,988	95,387	129,375
Charge for the year	34,733	34,392	69,125
Eliminated on disposal	-	(1,714)	(1,714)
At 31 August 2025	68,721	128,065	196,786
Carrying amount
At 31 August 2025	347,988	88,435	436,423
At 31 August 2024	381,721	113,520	495,241

Included within the net book value of land and buildings above is £347,988 (2024 - £381,721) in respect of short leasehold land and buildings.
 

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		430,438	441,022
Amounts owed by related parties	9	3,906	-
Prepayments		6,237	13,856
Other debtors		2,257	28,272
		442,838	483,150

Anglo Chinese School Of London Limited

trading as Kensington Wade

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

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	1,008,640	1,010,306
Trade creditors		28,952	27,279
Amounts due to related parties		-	150,000
Social security and other taxes		170,872	37,625
Other creditors		286,914	324,064
Accruals		49,267	19,376
Deferred income		873,417	1,024,938
		2,418,062	2,593,588

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	-	8,333

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	8,333

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	8,334	10,000
Other borrowings	1,000,306	1,000,306
	1,008,640	1,010,306

Anglo Chinese School Of London Limited

trading as Kensington Wade

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

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	119,764	90,258
Later than one year and not later than five years	282,932	402,696
	402,696	492,954

The amount of non-cancellable operating lease payments recognised as an expense during the year was £90,258 (2024 - £85,250).

9	Related party transactions

Summary of transactions with other related parties

Westminster Anglo Chinese Schools Limited On 28 May 2026, Westminster Anglo Chinese Schools Limited entered into an assignment of intellectual property rights with Anglo Chinese School of London Limited whereby intellectual property rights in relation to the curriculum and methodology for Bilingual Education [and the trade mark "Kensington Wade"] was sold to Anglo Chinese School of London Limited for a total consideration of £75,000, of which the sum of £32,454.92 was deemed to have been paid by the year ended 31 August 2025.

No remuneration was paid to the directors during the current year or the prior year.

Included in creditors are amounts totalling £1,000,306 (2024: £1,000,306) owed to the majority shareholder of the Company. The amount is unsecured, interest free and repayable on demand, however the directors have received reasonable assurances that the shareholders will not all upon this debt and continue to provide funding as needed, for at least 12 months from the date of signing the financial statements.

Also included in debtors is an amount totaling £3,906 (2024: Creditor amount of £52,167) due from a corporate shareholder of the Company. The amount is unsecured, interest free and repayable on demand.