1.
General Information
The Mulberry House School Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07261427
. The registered office is 7 Minster Road, West Hampstead, London, NW2 3SD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
-
the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d).
2.3.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.4.
Significant judgements and estimations
In the assumption 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 other estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised where the revisions affects ony that year, or in the year of the revision and future years where the revsision affects both current and future years.
2.5.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts.
The turnover shown in the profit and loss account represents fees charged for the education provided and additional items which relates to events provided. Fees are recognised at the point of when education services are provided.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold Property |
|
| Freehold Land |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
Assets in the course of construction are not depreciated until they are in use. Once in use they are depreciated over their expected useful life.
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 the profit or loss.
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
2.7.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.8.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.9.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.10.
Current asset investments
Current asset investments comprise cash held on short-term deposit with original maturities of more than three months and less than one year from the date of inception. These are held to maturity and are stated at amortised cost.
2.11.
Deposits
Deposits represent amounts received from parents in advance of pupils enrolling at the school. The deposits are held until the pupil leaves the school and are either refunded or applied against the final term’s fees. Deposits are recognised as creditors until either refunded or utilised.
2.12.
Dividends
Dividends are recognised as a liability in the financial statements in the period in which they are approved and no longer at the discretion of the company.
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
3.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Bad debts | (6,733) | 13,925 | |
| Depreciation of tangible fixed assets |
|
|
|
4.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
5.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
6.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Teachers and support staff |
|
|
|
| Kitchen and maintenace |
|
|
|
|
|
|
||
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
7.
Directors' remuneration
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Benefits in kind
|
39,948
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
22,535
|
|
|
39,948
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
22,535
|
Information regarding the highest paid director was as follows:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to defined benefit pension schemes |
|
|
|
|
|
|
||
8.
Interest Receivable and Similar Income
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
9.
Interest Payable and Similar Charges
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Interest payable on other loans |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 10,137 | 692 | |
| 40,371 | 48,105 | ||
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
10.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 as restated |
|||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 1,037,983 | 719,925 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
|
|||
| Total tax charge for the period | 264,311 | 230,209 | |||
11.
Prior Period Adjustment
A prior year adjustment has been processed to reclassify amount totaling £501,657 from within cash equivalents to current asset investments. This was mis-classified in error in the prior year due to the notice period being 95 days. The prior year adjustment had no impact on profit or loss reported in the prior year.
12.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Freehold Property | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 September 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| As at 31 August 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 September 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| As at 31 August 2025 |
|
|
|
|
|
...CONTINUED
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
| Net Book Value | |||||
| As at 31 August 2025 |
|
|
|
|
|
| As at 1 September 2024 |
|
|
|
|
|
13.
Debtors
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by group undertakings | 78,607 | 5,000 | |
| Other debtors | 65,202 | 80,366 | |
|
|
|
||
14.
Current Asset Investments
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Unlisted investments | 531,943 | 501,657 | |
15.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts | - |
|
|
| Other creditors | 1,513,502 | 1,645,012 | |
| Corporation tax |
|
|
|
| Taxation and social security | 68,435 | 166,390 | |
| Accruals and deferred income | 247,206 | 318,023 | |
|
|
|
||
16.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans | - |
|
|
|
|
|
||
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
17.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
The Hire Purchase liability is secured against the vehicle.
18.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 139,895 | 158,101 | |
19.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 September 2024 |
|
158,101 |
| Utilised |
( |
(18,206) |
| Balance at 31 August 2025 |
|
139,895 |
21.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £126,199 (2024: £242,127).
At the balance sheet date contributions of £14,702 (2024: £11,436) were due to the fund and are included in creditors.
The Mulberry House School Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
22.
Dividends
| 2025 | 2024 as restated |
||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
23.
Post Balance Sheet Events
Subsequent to the year end, the freehold properties known as 7 Minster Road and 68 Shoot Up Hill were transferred to the parent undertaking on 29 September 2025 as part of an internal group reorganisation. Consideration of £3,750,000 was received by the company in respect of the transfer. The directors consider that the transaction was undertaken on terms agreed between the group entities.
24.
Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
Key management personnel (including directors) received compensation of £528,740 (2024: £393,295)
Mr D & Mrs Binet-Fauvel
Director and shareholder
During the year, the company paid rent of £30,000 (2024: £Nil) in respect of a residential property owned personally by them and used by the company. The transactions were undertaken on normal commercial terms. There were no amounts outstanding at the year end (2024: £nil).
Mrs B Lewis-Powell
Director and shareholder
The balance due to the director at 31 August 2025 was £141,818 (2024 - £147,068). No interest is charged in respect of this balance.
25.
Controlling Parties
The company's immediate parent undertaking is
7 & 68 Ltd
.
The ultimate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is
7 & 68 Ltd
(incorporated in England & Wales). Its registered office is
Minster Road, West Hampstead, London, England, NW2 3SD
.
Copies of the group accounts may be obtained from the company's registered office.
The company's controlling parties are Mr D Binet-Fauvel and Mrs C Binet-Fauvel by virtue of their interest in the share capital of the company.
26.
Exceptional Items
During the year, following confirmation from HM Revenue & Customs that an historic PAYE and National Insurance liability was not due, the Company wrote off a liability of £94,916. The amount related to a historic difference originating in the 2018/19 tax year which had been carried forward from prior periods.