Hawley Place School Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03791901 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

Hawley Place School Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sir T B Smit

Ms V S Smit

G Jones

SECRETARY:

Ms V S Smit

REGISTERED OFFICE:

Hawleyhurst School

Fernhill Road

Blackwater

Camberley

Surrey

GU17 9HU

REGISTERED NUMBER:

03791901 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,997,077

4,004,253

CURRENT ASSETS

Debtors

5

2,167,426

(2,876,229

)

Cash at bank

-

88,445

2,167,426

(2,787,784

)

CREDITORS

Amounts falling due within one year

6

1,642,428

1,249,654

NET CURRENT ASSETS/(LIABILITIES)

524,998

(4,037,438

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,522,075

(33,185

)

CREDITORS

Amounts falling due after more than one year

7

-

(135,856

)

ACCRUALS AND DEFERRED INCOME

-

(78,177

)

NET ASSETS/(LIABILITIES)

4,522,075

(247,218

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

4,522,073

(247,220

)

SHAREHOLDERS' FUNDS

4,522,075

(247,218

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 30 May 2019 and were signed on its behalf by:

Ms V S Smit - Director

Sir T B Smit - Director

1.	STATUTORY INFORMATION

Hawley Place School Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes. The following criteria must also be

met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services

are provided in accordance with the stage of completion of the contract when all of the

following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be

measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost and 20% on cost

Financial instruments

The Company only enters into basic financial instruments transactions that result in the

recognition of financial assets and liabilities like trade and other debtors and creditors, loans

from banks and other third parties, loans to related parties and investments in non-puttable

ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of

each reporting period for objective evidence of impairment. If objective evidence of

impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet

when there is an enforceable right to set off the recognised amounts and there is an

intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

No provision considered necessary for corporation tax on the results for the year as the

directors understand that sufficient reliefs will be available under group relief arrangements

to cover any potential liability.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at

transaction price, unless the arrangement constitutes a financial transaction, where the

transaction is measured at the present value of the future receipts discounted at a market

rate of interest. Such assets are subsequently carried at amortised cost using the effective

interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with

financial institutions, and other short-term highly liquid investments that mature in no more

than three months from the date of acquisition and that are readily convertible to known

amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and

loans from related parties, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at

the present value of the future payments discounted at a market rate of interest. Such

instruments are subsequently carried at amortised cost using the effective interest method,

less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 116 (2017 - 116 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 September 2017

5,718,248

572,337

6,290,585

Additions

-

37,200

37,200

Disposals

-

(37,200

)

(37,200

)

At 31 August 2018

5,718,248

572,337

6,290,585

DEPRECIATION

At 1 September 2017

1,785,756

500,576

2,286,332

Charge for year

-

7,176

7,176

At 31 August 2018

1,785,756

507,752

2,293,508

NET BOOK VALUE

At 31 August 2018

3,932,492

64,585

3,997,077

At 31 August 2017

3,932,492

71,761

4,004,253

5.

DEBTORS

31.8.18

31.8.17

£

£

Amounts falling due within one year:

Trade debtors

1,435,400

934,284

Amounts recoverable on contract

285,791

-

Other debtors

-

145,362

1,721,191

1,079,646

Amounts falling due after more than one year:

Other debtors

446,235

(3,955,875

)

Aggregate amounts

2,167,426

(2,876,229

)

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans and overdrafts

40,115

-

Trade creditors

22,932

76,296

Taxation and social security

301,517

47,647

Other creditors

1,277,864

1,125,711

1,642,428

1,249,654

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Other creditors

-

135,856

8.	RELATED PARTY DISCLOSURES

The entire share capital of Hawley Place School Limited was purchased by Churchtown

Futures Limited in December 2017. Churchtown Futures Limited also owns the entire share

capital of Hurst Lodge Limited, through its direct subsidiary, Teedown Limited. In December

2017, the trading activities of Hurst Lodge Limited were physically moved from their former

location in Ascot to the Hawley Place School site at Blackwater, near Camberley. The trading

activities and accounting systems of Hurst Lodge Limited and Hawley Place School Limited

were merged on transition such that there is a high degree of interdependence between

the two schools; consequently, the trading results of Hawley Place School limited should be

reviewed and regarded in association with those of Hurst Lodge Limited for the year to 31

August 2018.