Contents of the Financial Statements

for the Period Ended 30 September 2019

Directors' report period ended 30 September 2019

The directors present their report with the financial statements of the company for the period ended 30 September 2019

Directors

The directors shown below have held office during the whole of the period from
1 October 2018 to 30 September 2019

The director shown below has held office during the period of
1 October 2018 to 31 March 2019

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 April 2020

And signed on behalf of the board by:
Name: Patrick Duffy
Status: Secretary

Profit And Loss Account

for the Period Ended 30 September 2019

Balance sheet

As at 30 September 2019

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 September 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 September 2019

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is the amount derived from the provision of services falling within company’s ordinary activities after the deduction of value added tax.

  Other accounting policies

  Statement of complianceBelfast Educational Services (Strabane) Limited is a limited liability company incorporated in Northern Ireland. The Registered Office is Carnbane House, Shepherds Way, Newry, Co. Down, BT35 6QJ. The financial statements have been prepared in compliance with FRS 102 as it applies to the financial statements of the company for the year ended 30 September 2019. Basis of preparationThe financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards.The financial statements are prepared in Sterling (£) which is the functional currency of the company. The company has taken advantage of the following disclosure exemptions in preparing these financial statements as permitted by FRS 102:The requirements of section 7 Statement of cash flows.Prior year reclassificationIn the year ended 30 September 2019 the directors identified the incorrect classification of deferred income which was previously presented as due within one year. The presentation of this balance has been amended to greater than one year to better match the timing of associated cash outflows.Comparative figures have been reclassified where necessary on a basis consistent with the current year.Going concernThe directors have considered the appropriateness of preparing the financial statements on a going concern basis. In March 2020 the college was required to close to students as a result of government advice regarding social distancing, to curtail the spread of the COVID-19 virus. While pupils are not in attendance, the public authorities will continue to pay the unitary fee if the college buildings remain available. The directors, therefore, continue to ensure that routine and scheduled maintenance programmes remain in operation. These are carried out by third party contractors. The directors have assessed the ability of the third-party contractors to fulfil their obligation and note that they are considered key workers. Where site personnel are unavailable through sickness, the contractor is able to back-fill positions.Deferred taxationDeferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more, tax.Accounting for private finance initiative contractsDuring the year of construction, costs incurred as a direct consequence of financing, designing and constructing Holy Cross College (the facility) are shown as assets in the course of construction. On completion of predetermined construction phases, where agreements transfer substantially all the risks and rewards associated with ownership to the purchaser, amounts receivable are transferred from assets in the course of construction to PFI debtors. These amounts are recognised as turnover in the financial statements. Financial instrumentsThe company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.Interest-bearing loans and borrowings All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Judgements and key sources of estimationThe preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

Notes to the Financial Statements

for the Period Ended 30 September 2019

• 2. Employees

  	2019	2018
  Average number of employees during the period	0	0