REGISTERED COMPANY NUMBER: 00770891 (England and Wales)

REGISTERED CHARITY NUMBER: 312044

Page

Report of the Trustees  

1

to

8

Report of the Independent Auditor  

9

to

12

Statement of Financial Activities  

13

Balance Sheet  

14

Cash Flow Statement  

15

Notes to the Cash Flow Statement  

16

Notes to the Financial Statements  

17

to

26

INTRODUCTION

The Board of Governors (who are trustees for the purpose of charity law and directors for the purposes of company law) present their annual report for the year ended 31st August 2025 prepared under the regulations of the Companies Act 2006, the Charities Act 2011, together with the audited financial statements for the year and confirm that the latter comply with the requirements of the Companies Act 2006 and the company's memorandum and articles of association and the Charities SORP, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).

The report of the governors includes the information required to be disclosed under company law in the director's report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The School was founded in 1899 and became a charitable trust in 1963. It is governed by its memorandum and articles of association.

Governing Body

Governors are elected at a meeting of the Board of Governors and all new governors are invited to become members of the charitable company. Careful consideration is given to the appointment of governors and individuals are approached where there is a need for particular skills. All key areas of responsibility are adequately covered by the existing Board of Governors.

Governors

All governors give of their time freely and no remuneration or expenses were paid in the year. No governor or person connected with a governor received any benefit from either means tested bursaries or scholarships awarded to any pupils.

Governors' training

New governors are well briefed about the School and its procedures and policies. A detailed induction process is in place and includes a file containing all relevant aspects of the School (such as the prospectus, memorandum and articles, and the latest inspection report), together with the AGBIS handbook and training details. Governors visit the School during the term to gain an understanding of teaching methods. They also attend seminars and training events when appropriate to keep up to date about governance, safeguarding and other developments. .

Organisational Management

The governors determine the strategic policy of the School and review its overall management and control for which they are legally responsible. The full governing body meets at least once a term and more often if required. In addition, the Finance, Health, Safety and Welfare, Marketing, Academic and Pastoral sub-committees meet termly and report back to the main governing body. The day to day management of the School is delegated to the Head who is well supported by other members of the senior leadership team.

Pay Policy for Senior Staff

The Head, Bursar and senior teaching staff comprise the key management personnel of the School. Remuneration of the Head and Bursar is reviewed annually in accordance with their contracts of employment, and is benchmarked against schools of similar size in the locality.

Remuneration of senior teaching staff is reviewed annually and benchmarked against national scale rates for teaching staff of equivalent experience, seniority and responsibility.

Risk Management

The Board of Governors is responsible for the management of risks faced by the School. The risk register and policy is reviewed by a sub-committee of governors and senior staff, who report annually to the Board of Governors. Risks are identified, assessed and controls applied throughout the year.

Principal Activity

The principal activity of the charity continues to be the provision of an education for boys and girls from age 7 up to the age of 16+. As well as providing excellent education, the charity provides pastoral care of the highest possible calibre.

OUR AIMS

Kingswood House is committed to safeguarding and promoting the welfare of children:

o Staying safe

o Being healthy

o Enjoying and achieving

o Making a positive contribution

o Social and economic well-being

Kingswood House aims to:

o Develop the individual abilities of each child in a secure, caring and friendly environment where they are happy and motivated to learn and to appreciate the benefits of healthy living and physical fitness.

o Encourage participation, enjoyment and success in all areas of the School's curriculum to create a well-rounded, confident child who shows respect, tolerance and compassion towards people and the environment.

o Help children develop self-worth and maturity so they are equipped to deal with life's challenges and are prepared for the next stage of their education.

o Create a strong partnership between parents, children and staff to foster social awareness and to allow all members of the School community to feel valued and appreciated.

OUR OBJECTIVES

Our objectives are set to reflect our educational aims and the ethos of the School. It is important to us that we maintain and enhance the academic success of the School. This objective is, however, set in the context of the broader goals we set for the School and its pupils.

In setting our objectives and planning our activities our governors have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging.

Our key objectives for the year included:

o To enhance and improve the education and social development of every child in an individual manner such that they achieve their maximum potential;

o To continue to establish the School as an attractive 7-16 option for pupils in the local community;

o To embed co-education throughout the academic and co-curricular provision;

o To continue to develop the first class pastoral care we provide for pupils;

o To provide continuing support of our pupils already in receipt of fee assistance through bursaries; and if possible increase the provision of means tested bursaries for next year's intake of pupils;

o To continue to improve the facilities and resources available to the pupils and staff.

OUR ETHOS, STRATEGY AND POLICIES

Strategy

Our governors are responsible for setting a strategy for achieving the objectives they have set. The focus of our strategy is to create and maintain a secure and friendly environment where pupils are happy and well-motivated to learn from the wide range of opportunities presented to them. With an individual approach for each pupil, the objective is to maximise their academic potential and other abilities, develop self-discipline, social awareness and self-esteem.

The strategy for achieving these aims is the provision of small class sizes from the earliest stage, staffed by high quality teachers with support from a wide range of in-house specialists in learning development, with access to the most appropriate facilities undertaken within a broad and challenging curriculum.

In taking forward our strategy we also plan to:

o  Invest in technology and the infrastructure of our School;

o  Co-operate and share resources with local schools;

o  Review and develop our approach to awarding bursaries/scholarships to widen access to pupils from all backgrounds;

o Embed co-education;

o Consider expansion of GCSE options as well as other options and;

o Embrace technology as a working part of teaching and learning via a Chromebook programme.

Our ethos: a caring School serving our local community and society.

Kingswood House School is a charitable trust which seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of our School and at a level that is consistent with our aim of providing a first-class education for all our pupils.

Our School welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that our School will be able to educate and develop a prospective pupil to the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual's economic status, ethnicity, race, religion or disability do not form part of our assessment processes.

We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of protected characteristics, including and not limited to: age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or beliefs, sex or sexual orientation. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.

Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment.

Access policy

It is important to us that access to the education we offer is not restricted to those who can afford our fees. We believe our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. Our bursary policy contributes to a widening of access to the education we offer and the facilities we enjoy. We are also hoping to establish more teaching links with local schools.

Bursary policy

The governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil's education and future prospects would otherwise be at risk, for example, in the case of redundancy. In assessing means we take a number of factors into consideration including family income, investments and savings and family circumstances for example dependant relatives and the number of siblings. However, the School does not have any endowment or bursary funds so the awards have to be met out of current income. In funding them we have to be mindful of ensuring a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child's education, and those benefiting from the awards.

In the past year we have provided financial help to 79 pupils in the School by way of scholarships,bursaries and sibling discounts.

Details of the bursaries available can be found on the website.

REVIEW OF ACHIEVEMENTS FOR THE YEAR

Operational Performance

The School continued to embed the exciting developments of recent years, namely the further development of co-education following the introduction of girls in 2021. Over what for a few years have been challenging times for many schools in the independent sector, the School has maintained numbers north of 200, which is pleasing with potentially challenging times ahead. The personalised provision of education at Kingswood House is undoubtedly appreciated by parents who have maintained their trust in the School, as well as new parents buying into the School's deserved reputation for possessing a caring and supportive learning environment. We are confident that it is because of the personalised style of education at the School and our deserved reputation for pastoral care, that numbers remain solid and we have not seen the fluidity in numbers that some schools are experiencing.

Under the Head's leadership, we have seen positive change throughout the school, including embarking upon new options for GCSE including BTEC Music Tech and Business Enterprise. Through the year the School invested in the PE department, and appointed a Head of Girls' PE for the first time as well as reopening the school climbing wall with relevant training for staff to further enhance sport and games provision. The School also invested heavily in equipment to enhance the experience of our pupils. In particular, the School installed a "Robotics lab" within the IT Suite: a bright, open space conducive to learning the basics of programming and robotics in conjunction with a broader curriculum.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

Fundraising

Fundraising for the School was organised mainly by current parents of the School. The Kingswood House Association is run by a hard-working committee of parents who continue to arrange social events for parents and pupils and fundraise for the benefit of the pupils, which includes sporting equipment and Christmas activities. The governors are extremely grateful for the energetic and enthusiastic activities of these parents whose efforts add significantly to the facilities in the School.

The School has also appointed a Head of Development who is progressing with an Alumni Programme and at the end of the academic year set up a deposit donation option for Year 11 leavers, the raised funds was used to install a striking Aquarium in the reception / entrance to the greater benefit for the profile of the children at the School.

Investment Performance

Surplus funds are kept in suitable interest-bearing accounts, with £36,714 (2024: £25,348) being received in interest during the year.

Results

The results for the year show income from tuition fees of £4,159,221 (2024: £4,132,155) and a net deficit of £228,244 (2024: net deficit of £256,531). This gives a surplus to carry forward of £2,205,713 (2024: £2,433,957) of which £2,150,414 (2024: £ 2,378,658) is in the General fund and £55,299 (2024: £55,299) is in the Development fund.

Scholarships, bursaries and discounts totalled £410,026 (2024: £341,912) of which bursaries and scholarships amounted to £326,037 (2024: £261,339) and discounts £83,989 (2024: £80,573). The Bursary scheme is available for pupils whose parents are having financial difficulty and each case is assessed separately giving particular attention to the benefits of the child.

Scholarships are given to exceptional students, both external and internal, following successful completion of the Scholarship exam.

THE RESERVES POLICY

The policy of the governors is to maintain adequate free reserves by means of appropriate financial management consistent with the development and improvement of the resources of the School.

The level of reserves is reviewed at least annually.

COMMUNITY RELATIONS AND CHARITABLE DONATIONS

During the year many charities approach us to support their needs. It is our policy to support charities that work with children, whenever we can. Our main fundraising comes from our "House Days". The pupils in each House put forward and speak to their peers and staff members about charities that they felt passionate about and the House voted on which one they would like to support. They organised a fun day with activities and games at lunch time.

We supported various other charities throughout the year:

First Touch

NPCC

Crisis UK

Young Minds - Mental Health Awareness Day

Macmillan Cancer Support - Coffee Morning

Epsom & Ewell Food Bank - Harvest Festival Donations

Save the Children - Christmas Jumper Day

The Royal British Legion - Poppy Appeal

PUBLIC BENEFIT

The governors have complied with the duty required by the Charities Act 2011 with regard to the public benefit guidance published by the Charities Commission.

As an important part of the School's functions we audit on an annual basis the public benefit provided by our School.

The governors have complied with the duty required by the Charities Act 2011 with regard to the public benefit guidance published by the Charities Commission.

As an important part of the School's functions we audit on an annual basis the public benefit provided by our School.

1. During the School year from September 2024 to August 2025 we educated 220 children including 100% bursaries for 3 Ukrainian pupils.

2. The standards of our education are reviewed against national benchmarks and our education exceeds those benchmarks.

3. The School has a special interest in educating children with special educational needs, including dyslexia, speech and language difficulties and gifted children, and is recognised as providing tuition in this area, which is excellent by national standards. We educated 31 children in the year who have an Education and Health Care Plan, 18 of whom have their School fees paid for by the relevant County Council. We are a member of The National Association of Able Children (NACE) and are registered with Crested (Council for the Registration of Schools teaching dyslexic pupils).

4. As a matter of policy, we provide access to our education to children from less affluent backgrounds. In the past year we have provided financial help to 79 pupils in the School, at a cost of £410,026 which includes discounts, bursaries and scholarships and amount to 8.9% of fee income and 8.6% of the total fee income.

5. We have continued to educate 3 boys from the Ukraine on a full bursary.

6. We ran holiday activity courses for 8 weeks during the year for our pupils, their family, friends and neighbours.

7. We share sports and other facilities with local schools and members of the general public.

8. We have a good relationship with local groups/clubs/schools who allow us the use of their facilities.

9. We contribute to the local community in a variety of ways:

o We support the Royal British Legion by selling poppies prior to Remembrance Day.

o Produce from our annual Harvest Festival is given to Epsom & Ewell Food Bank.

o We invite local residents for a coffee morning each year.

o We support many local businesses by using their services such as tree surgeons, builders, roofers, plumbers and electricians.

o We use the services of many local business for training which includes minibus and fire training.

o We support a variety of local charities by raising money in House Days and other charitable days.

o Year 6 pupils attend a multi-agency Child Safety event at the Epsom Grandstand annually.

o Our PSHE Programme brings in the members of the community.

o Year 9 benefit from a business enterprise programme and raise funds for a charity, the profit from the enterprise is donated.

o We hold an annual Sixth Form Evening to which local schools and colleges are invited.

o Pupils explore the local community as part of their fieldwork studies.

o We hold a special 'Open Day' especially for Grandparents.

o The Governors play a pro-active part in the daily life of the school.

o We accept and monitor students from local schools doing work experience.

o We accept placements from local universities for students on teaching degree courses and allow students to observe teaching prior to completing teacher training.

o We accept placements for students to complete an independent PGCE from Roehampton University.

o Gap year students are accepted each year to support sports and other activates around the school.

10. We hire out our facilities to the wider community.

FUTURE PLANS

The key objective for the next few years is to continue to provide an attractive and competitive high-quality education. The continued development of co-education and the growth of the Junior School in particular, will go a long way towards achieving this long held ambition.

GOVERNORS' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The governors are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The purpose of this statement is to distinguish the governors' responsibilities for the accounts from those of the auditors as stated in their report.

Company law requires the governors to prepare financial statements for each financial year. Under company law the governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the governors are required to:

o Select suitable accounting policies and then apply them consistently

o Observe the methods and principles in the Charities SORP

o Make judgements and accounting estimates that are reasonable and prudent

o State whether applicable accounting standards have been followed, subject to any material departures discovered and explained in the financial statements

o Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation

The governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00770891 (England and Wales)

Registered Charity number

312044

Registered office

Kingswood House School

56 West Hill

Epsom

Surrey

KT19 8LG

Trustees

J Bourne (resigned 30.6.25)

H Bowen-Perkins

L S Culm (resigned 31.12.24)

R Johnstone

A G Law (resigned 24.11.24)

A R Matthews

R B G Laudy

M H Scott

H L Bowen-Perkins Teacher

Auditor

Shaw Gibbs Audit Ltd

Wey Court West

Union Road

Farnham

Surrey

GU97PT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

AUDITOR

The auditors,  Shaw Gibbs Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 30 June 2026 and signed on its behalf by:

R B G Laudy - Trustee

Opinion

Basis for opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditor thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of trustees' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit; or

-

the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditor that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including compliance with the Charity Act 2011, data protection, child protection, anti-bribery, health and safety and food hygiene legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting the accounting records and legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions:

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation:

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with the Charity Commission, and the charity's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditor.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lance Redman (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs Audit Ltd

Wey Court West

Union Road

Farnham

Surrey

GU97PT

30 June 2026

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£   

£   

£   

£   

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

10,043

-

10,043

122

Charitable activities

5

Tuition fees

4,159,221

-

4,159,221

4,132,155

Other trading activities

3

98,829

-

98,829

100,729

Investment income

4

36,920

-

36,920

26,593

Other income

1,464

-

1,464

-

Total

4,306,477

-

4,306,477

4,259,599

EXPENDITURE ON

Charitable activities

6

Teaching

2,396,291

-

2,396,291

2,417,441

Catering

281,977

-

281,977

230,175

Premises

855,183

-

855,183

871,719

Support

1,001,270

-

1,001,270

996,795

Total

4,534,721

-

4,534,721

4,516,130

NET INCOME/(EXPENDITURE)

(228,244

)

-

(228,244

)

(256,531

)

RECONCILIATION OF FUNDS

Total funds brought forward

2,378,658

55,299

2,433,957

2,690,488

TOTAL FUNDS CARRIED FORWARD

2,150,414

55,299

2,205,713

2,433,957

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£   

£   

£   

£   

FIXED ASSETS

Intangible assets

12

804,494

-

804,494

804,494

Tangible assets

13

1,532,336

-

1,532,336

1,720,947

2,336,830

-

2,336,830

2,525,441

CURRENT ASSETS

Debtors

14

332,164

-

332,164

204,532

Cash at bank and in hand

15

695,693

55,299

750,992

1,191,134

1,027,857

55,299

1,083,156

1,395,666

CREDITORS

Amounts falling due within one year

16

(728,055

)

-

(728,055

)

(956,402

)

NET CURRENT ASSETS

299,802

55,299

355,101

439,264

TOTAL ASSETS LESS CURRENT

LIABILITIES

2,636,632

55,299

2,691,931

2,964,705

CREDITORS

Amounts falling due after more than one year

17

(486,218

)

-

(486,218

)

(530,748

)