Moreton Hall School Limited - Limited company accounts 20.1

REGISTERED NUMBER: 00721143 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 August 2021

for

Moreton Hall School Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTORS:

N R Smith

P B Loft

SECRETARY:

N R Smith

REGISTERED OFFICE:

Moreton Hall School

Mount Road

Bury St Edmunds

Suffolk

IP32 7BJ

REGISTERED NUMBER:

00721143 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

The directors present their report with the financial statements of the company for the year ended 31 August 2021.

CESSATION OF TRADING

The company ceased trading on 20 October 2009.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2020 to the date of this report.

N R Smith

P B Loft

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P B Loft - Director

6 May 2022

TURNOVER

-

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

-

Tax on profit

5

-

-

PROFIT FOR THE FINANCIAL YEAR

-

-

FIXED ASSETS

Tangible assets

6

1,600,000

1,600,000

CURRENT ASSETS

Debtors

7

6,947

6,947

NET CURRENT ASSETS

6,947

6,947

TOTAL ASSETS LESS CURRENT LIABILITIES

1,606,947

1,606,947

CAPITAL AND RESERVES

Called up share capital

8

39,500

39,500

Retained earnings

1,567,447

1,567,447

SHAREHOLDERS' FUNDS

1,606,947

1,606,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2022 and were signed on its behalf by:

P B Loft - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2019

39,500

1,567,447

1,606,947

Changes in equity

Balance at 31 August 2020

39,500

1,567,447

1,606,947

Changes in equity

Balance at 31 August 2021

39,500

1,567,447

1,606,947

1.	STATUTORY INFORMATION

Moreton Hall 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company was dormant throughout the current year and previous year.

Tangible fixed assets

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

Freehold property

-

not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Freehold property

Freehold property is held at fair value, this being based on the latest formal valuation. The directors believe this to be the most appropriate current fair value.

No depreciation has been charged as the residual value, after considering the property's useful life of 50 years, is considered to be greater than its current carrying value. Therefore depreciation is not considered applicable.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 August 2021 nor for the year ended 31 August 2020.

6.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 September 2020

and 31 August 2021

1,600,000

NET BOOK VALUE

At 31 August 2021

1,600,000

At 31 August 2020

1,600,000

The property is used for the charitable activity of the parent company.

Cost or valuation at 31 August 2021 is represented by:

Land and

buildings

£

Valuation in 2015

1,600,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

41,160

41,160

Freehold land and buildings were valued on an open market basis on 10 July 2015 by Pinders .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by group undertakings

6,947

6,947

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

39,500

Ordinary

£1

39,500

39,500

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Moreton Hall School Trust Limited, a charitable company registered in England, controlled by a board of Trustees.