Churcher's College Enterprises Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05770329 (England and Wales)

CHURCHER'S COLLEGE ENTERPRISES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D T Robbins

M J Gallagher

S H L Williams

J Bloomer

S Barrett

SECRETARY:

D T Robbins

REGISTERED OFFICE:

Churcher's College

Ramshill

Petersfield

Hampshire

GU31 4AS

REGISTERED NUMBER:

05770329 (England and Wales)

AUDITORS:

Sheen Stickland

35 Lavant Street

Petersfield

Hampshire

GU32 3EL

FIXED ASSETS

Tangible assets

4

1,849,636

1,923,059

CURRENT ASSETS

Debtors

5

46,362

8,369

Cash at bank

4,959

7,421

51,321

15,790

CREDITORS

Amounts falling due within one year

6

17,749

19,017

NET CURRENT ASSETS/(LIABILITIES)

33,572

(3,227

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,883,208

1,919,832

CAPITAL AND RESERVES

Called up share capital

7

2,170,801

2,170,801

Retained earnings

8

(287,593

)

(250,969

)

SHAREHOLDERS' FUNDS

1,883,208

1,919,832

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7th December 2017 and were signed on its behalf by:

M J Gallagher - Director

D T Robbins - Director

1.	STATEMENT OF COMPLIANCE

Churchers College Enterprises Limited is a company limited by shares and is incorporated in England,

company number 05770329. The registered office is Churcher's College, Ramshill, Petersfield,

Hampshire, GU31 4AS.

The financial statements are presented in sterling which is the functional currency of the company

and rounded to the nearest pound.

The company transitioned from previously extant UK GAAP to FRS 102 as at 1st September 2015.

There has been no affect on the reported financial position and financial performance of the

company on transition to FRS 102.

The significant accounting policies applied in the preparation of these financial statements are set

out below. These policies have been consistently applied to all years presented unless otherwise

stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A

"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Equipment

-

10% on cost

Swimming Pool

-

10% on cost, 5% on cost and 2% on cost

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.

Going concern

The financial statements are prepared on the going concern basis which the directors consider

appropriate in view of the support of Churcher's College.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Swimming

Equipment

Pool

Totals

£

£

£

COST

At 1st September 2016

5,345

2,173,242

2,178,587

Additions

9,544

-

9,544

At 31st August 2017

14,889

2,173,242

2,188,131

DEPRECIATION

At 1st September 2016

1,363

254,165

255,528

Charge for year

1,489

81,478

82,967

At 31st August 2017

2,852

335,643

338,495

NET BOOK VALUE

At 31st August 2017

12,037

1,837,599

1,849,636

At 31st August 2016

3,982

1,919,077

1,923,059

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

9,698

8,369

Amounts owed by group undertakings

36,664

-

46,362

8,369

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

10,787

2,809

Amounts owed to group undertakings

-

1,162

VAT

62

3,180

Accruals and deferred income

6,900

11,866

17,749

19,017

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2,170,801

Ordinary

£1

2,170,801

2,170,801

8.

RESERVES

Retained

earnings

£

At 1st September 2016

(250,969

)

Deficit for the year

(36,624

)

At 31st August 2017

(287,593

)

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Wright (Senior Statutory Auditor)

for and on behalf of Sheen Stickland

10.	RELATED PARTY DISCLOSURES

During the period the company invoiced the Churcher's College £88,451 (2016: £76,600) for use of

the swimming pool. The company incurred management charges from Churcher's College of £5,409

(2016: £5,354) . At the year end, £36,664 was due from Churchers College (2016: £1,162 due to

Churchers College).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Board of Governors of Churcher's College.