St Wilfrid's School (Exeter) Ltd
for the Year Ended 31 August 2025
St Wilfrid's School (Exeter) Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
St Wilfrid's School (Exeter) Ltd
Company Information
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Directors |
Mrs A M MacDonald-Dent Mr E A MacDonald-Dent Mr R Bovingdon Mrs K Bovingdon |
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Company secretary |
Mr E A MacDonald-Dent |
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Registered office |
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Accountants |
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St Wilfrid's School (Exeter) Ltd
(Registration number: 02282025)
Balance Sheet as at 31 August 2025
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2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
St Wilfrid's School (Exeter) Ltd
(Registration number: 02282025)
Balance Sheet as at 31 August 2025
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St Wilfrid's School (Exeter) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
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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 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 expense for the period comprises current and 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.
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.
St Wilfrid's School (Exeter) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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:
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Asset class |
Depreciation method and rate |
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Short leasehold |
Over 25 year life of the lease |
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Motor vehicles |
25% reducing balance |
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Office equipment |
15% reducing balance |
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.
St Wilfrid's School (Exeter) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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.
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
St Wilfrid's School (Exeter) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2024 |
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Pre-registration VAT reclaimed |
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Additions |
- |
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- |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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At 31 August 2024 |
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Included within the net book value of land and buildings above is £12,081 (2024 - £15,107) in respect of short leasehold land and buildings.
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
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St Wilfrid's School (Exeter) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Creditors |
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
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Deferred income |
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St Wilfrid's School (Exeter) Ltd
Detailed Profit and Loss Account for the Year Ended 31 August 2025
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2025 |
2024 |
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Turnover |
603,105 |
650,582 |
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Gross profit (%) |
100% |
100% |
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Administrative expenses |
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Employment costs |
(395,696) |
(398,584) |
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Establishment costs |
(124,880) |
(137,428) |
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General administrative expenses |
(55,965) |
(73,717) |
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Finance charges |
(101) |
(90) |
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Depreciation costs |
(7,486) |
(8,759) |
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(584,128) |
(618,578) |
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Operating profit |
18,977 |
32,004 |
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Other interest receivable and similar income |
493 |
68 |
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Interest payable and similar expenses |
(20) |
(44) |
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Profit before tax |
19,450 |
32,028 |
St Wilfrid's School (Exeter) Ltd
Detailed Profit and Loss Account for the Year Ended 31 August 2025
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2025 |
2024 |
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Turnover |
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Tuition Fees |
598,129 |
650,582 |
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Other Sales |
4,976 |
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603,105 |
650,582 |
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Employment costs |
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Wages and salaries |
237,038 |
268,797 |
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Staff NIC (Employers) |
18,718 |
14,680 |
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Directors remuneration |
69,300 |
57,300 |
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Directors NIC (Employers) |
7,820 |
5,397 |
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Staff pensions |
42,945 |
38,841 |
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Directors pensions |
19,875 |
13,569 |
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395,696 |
398,584 |
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Establishment costs |
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Rent |
50,562 |
51,000 |
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Rates |
21,978 |
20,092 |
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Light, heat and power |
5,954 |
8,247 |
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Insurance |
15,584 |
14,203 |
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Repairs and maintenance |
30,802 |
43,886 |
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124,880 |
137,428 |
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General administrative expenses |
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Telephone and fax |
1,168 |
2,344 |
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Computer software and maintenance costs |
6,449 |
7,750 |
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Printing, postage and stationery |
3,323 |
5,828 |
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Class room supplies |
7,688 |
10,381 |
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Outings |
2,099 |
7,684 |
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Trade subscriptions |
2,152 |
3,449 |
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Lease of motor vehicles |
424 |
7,354 |
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Activites and prizes |
47 |
388 |
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Sundry expenses |
880 |
878 |
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Cleaning |
942 |
2,683 |
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Uniforms |
685 |
1,146 |
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Motor expenses |
3,475 |
7,619 |
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Travel and subsistence |
776 |
926 |
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Advertising |
324 |
1,690 |
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Staff entertaining (allowable for tax) |
1,049 |
1,328 |
St Wilfrid's School (Exeter) Ltd
Detailed Profit and Loss Account for the Year Ended 31 August 2025
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2025 |
2024 |
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Accountancy fees |
9,478 |
6,548 |
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Consultancy fees |
199 |
- |
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Legal and professional fees |
9,398 |
5,721 |
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Bad debts written off |
5,409 |
- |
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55,965 |
73,717 |
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Finance charges |
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Bank charges |
101 |
90 |
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Depreciation costs |
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Depreciation of short leasehold property |
3,026 |
2,940 |
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Depreciation of office equipment (owned) |
4,460 |
5,819 |
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7,486 |
8,759 |
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Other interest receivable and similar income |
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Bank interest receivable |
493 |
68 |
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Interest payable and similar expenses |
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Other interest payable |
20 |
44 |