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Registered number: 01888014 SNARESBROOK PREPARATORY SCHOOL LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2025
SNARESBROOK PREPARATORY SCHOOL LIMITED REGISTERED NUMBER: 01888014 BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,421,932 |  | 1,448,548
Investments | 6 |  | 76 |  | 76
|  |  | 1,422,008 |  | 1,448,624
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 505,375 |  | 50,151 |
Cash at bank and in hand | 8 | 315,906 |  | 425,287 |
|  | 821,281 |  | 475,438 |
Creditors: amounts falling due within one year | 9 | (898,669) |  | (499,940) |
Net current liabilities |  |  | (77,388) |  | (24,502)
Total assets less current liabilities |  |  | 1,344,620 |  | 1,424,122
Creditors: amounts falling due after more than one year | 10 |  | - |  | (170,000)
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 | - |  | (4,603) |
|  |  | - |  | (4,603)
Net assets |  |  | 1,344,620 |  | 1,249,519
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 618 |  | 618
Capital redemption reserve |  |  | 332 |  | 332
Profit and loss account |  |  | 1,343,670 |  | 1,248,569
|  |  | 1,344,620 |  | 1,249,519
Page 1
SNARESBROOK PREPARATORY SCHOOL LIMITED REGISTERED NUMBER: 01888014 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Claire Anne Tao
Director
Date: 11 August 2026
The notes on pages 4 to 12 form part of these financial statements. Page 2
SNARESBROOK PREPARATORY SCHOOL LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2025
| Called up share capital | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 September 2023 | 618 | 332 | 1,175,862 | 1,176,812
Profit for the year | - | - | 160,957 | 160,957
Dividends | - | - | (88,250) | (88,250)
At 1 September 2024 | 618 | 332 | 1,248,569 | 1,249,519
Profit for the year | - | - | 95,101 | 95,101
At 31 August 2025 | 618 | 332 | 1,343,670 | 1,344,620
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Snaresbrook Preparatory School Limited is a private company limited by shares incorporated in England and Wales. The registered office is Forest School College Place, London E17 3PY. 2.Accounting policies
| 2.1 | Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
| 2.2 | Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. Page 4
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.3 | Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings: 1% on cost Plant and equipment: 33% on cost of computer equipment and 25% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
| 2.4 | Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities. Page 5
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.5 | Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
| 2.6 | Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
| 2.7 | Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 6
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
| 2.11 | Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
| 2.12 | Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 7
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
3. | Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4. | Employees
| The average monthly number of employees, including directors, during the year was 27 (2024 - 33).
5. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 September 2024 | 2,089,857 | 281,122 | 2,370,979
| Additions | - | 3,074 | 3,074
| Disposals | - | (82,190) | (82,190)
| At 31 August 2025 | 2,089,857 | 202,006 | 2,291,863
| Depreciation |  |  |
| At 1 September 2024 | 661,914 | 260,517 | 922,431
| Charge for the year on owned assets | 20,938 | 8,752 | 29,690
| Disposals | - | (82,190) | (82,190)
| At 31 August 2025 | 682,852 | 187,079 | 869,931
| Net book value |  |  |
| At 31 August 2025 | 1,407,005 | 14,927 | 1,421,932
| At 31 August 2024 | 1,427,943 | 20,605 | 1,448,548
Page 8
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 September 2024 | 76
| At 31 August 2025 | 76
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| SHE (Online) Ltd | Forest School, College Place, London, E17 3PY | Ordinary | 76%
| The aggregate of the share capital and reserves as at 31 August 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
| SHE (Online) Ltd | (79,220) | (79,320)
| The company has taken advantage of the exemption available under s.399 of the Companies Act to not consolidate the results of SHE (Online) Limited into these financial statements as the group qualifies as a small group.
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 382,159 | 1,214
| Amounts owed by group undertakings | 79,464 | 22,552
| Other debtors | 43,752 | 26,385
|  | 505,375 | 50,151
Page 9
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 315,906 | 425,287
|  | 315,906 | 425,287
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 170,000 | 70,000
| Trade creditors | 546,841 | 260,308
| Other taxation and social security | 124,558 | 86,194
| Other creditors | 57,270 | 83,438
|  | 898,669 | 499,940
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans and overdrafts | - | 170,000
|  | - | 170,000
Page 10
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
11. | Loans and overdrafts
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Payable within one year | 170,000 | 70,000
| Payable after one year | - | 170,000
|  | 170,000 | 240,000
| A ten year loan of £600,000 was taken out in 2017-18, with a fixed interest rate of 4.8% agreed with the finance company. In 2021 a unsecured £50,000 Bounce Back Loan, over 5 years with a fixed interest rate of 2.5%, was taken out to provide support during the pandemic. Repayments towards the loan began from March 2022. On 1 September 2025, following completion of the acquisition of the School by Forest School, the School's outstanding bank borrowings of £170,000 were repaid in full. As the repayment occurred after the reporting date of 31 August 2025, no adjustment has been made to the amounts recognised in these financial statements.
Page 11
SNARESBROOK PREPARATORY SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
12. | Deferred taxation
|  | 2025
|  | £
| Deferred tax liability at beginning of year | (4,603)
| Charged to profit or loss | 4,603
| At end of year | -
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | - | (4,603)
|  | - | (4,603)
| The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances.
13. | Related party transactions
| During the year the company entered into the following transactions with related parties: SHE (Online) Ltd is a subsidiary of Snaresbrook Preparatory School Ltd (SPS Ltd). During the year SPS Ltd incurred costs totalling £56,912 (2024: £22,476) on behalf of SHE (Online) Ltd. At the year end SHE (Online) Ltd owed SPS Ltd £79,464 (2024: £22,552) which is reflected in other debtors. R J W Mathison and S J Mathison are also directors of Archicraft Ltd, a company that provides architectural and consultancy services to SPS Ltd. The following directors also provide consultancy services to SPS LTD in the year: ∙R J W Mathison ∙C M Mathison ∙M P Savage JP ∙CE Whetham
14. | Post balance sheet events
On 1 September 2025 the entire issued share capital of the Company was acquired by Forest School, London - registered company number 00429150. The acquisition has resulted in Forest School, London obtaining 100% ownership and control of the Company. This transaction is a non-adjusting event as the acquisition occurred after the reporting date.
Page 12