ACCOUNTS - Final Accounts

GATEWAY CENTRAL SERVICES LIMITED - Company Information

Registered number: 07860299

ROMSEY COMMUNITY SCHOOL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

ROMSEY COMMUNITY SCHOOL LIMITED

COMPANY INFORMATION

Directors	S Caine
	J De Sausmarez
	S Dendy
	P Hanlon
	J Houghton
	J Lefley
	J Tijou
	S Weare


Registered number	07860299


Registered office	The Romsey School
	Greatbridge
	Romsey
	Hampshire
	SO51 8ZB


Independent auditors	James Cowper Kreston
	Chartered Accountants and Statutory Auditor
	9th Floor
	The White Building
	1-4 Cumberland Place
	Southampton
	Hampshire
	SO15 2NP

ROMSEY COMMUNITY SCHOOL LIMITED

REGISTERED NUMBER: 07860299

BALANCE SHEET

AS AT 31 AUGUST 2018

		2018		2017
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	112,405		61,470
Cash at bank and in hand	5	264,661		46,557
		377,066		108,027
Current liabilities
Creditors: amounts falling due within one year	6	(377,065)		(108,026)
Net current assets			1		1
Total assets less current liabilities			1		1

Net assets			1		1

Capital and reserves
Called up share capital	7	1	1
		1	1

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J De Sausmarez

Director

Date:
5 December 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1

ROMSEY COMMUNITY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

1.	General information

Romsey Community School Limited is a private company limited by share capital and incorporated in England and Wales. The registered office of the Company is The Romsey School, Greatbridge, Romsey, Hampshire, SO51 8ZB.
The Company's principal activity is running educational courses, a nursery and facility lettings.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue 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. Revenue 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.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

Page 2

ROMSEY COMMUNITY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

2.Accounting policies (continued)

2.5

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 and loans to related parties.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Employees

The average monthly number of employees, including directors, during the year was 55 (2017 - 60).

Debtors

					2018	2017
					£	£


Trade debtors	50,458	4,763
Other debtors	15,964	1,391
Prepayments and accrued income	39,766	54,766
Tax recoverable	6,217	550
	112,405	61,470

5.	Cash and cash equivalents
		2018	2017
		£	£

	Cash at bank and in hand	264,661	46,557

Page 3

ROMSEY COMMUNITY SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	19,956	4,832
Amounts owed to group undertakings	81,554	88,424
Other taxation and social security	8,116	6,003
Accruals and deferred income	267,439	8,767
	377,065	108,026

7.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1.00	1	1

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,919 (2017 - £11,511). There were no contributions outstanding at the year end.

9.	Related party transactions
	Transactions with the parent company have not been disclosed. This is because the company has taken advantage of the exemption available under FRS 102 paragraph 33.5 in respect of 100% owned subsidiaries.

10.	Controlling party

The Company is controlled by The Romsey School which holds 100% of the Company's share capital. Group accounts can be obtained from The Romsey School, Greatbridge, Romsey, Hampshire, SO51 8ZB.

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2018 was unqualified.

The audit report was signed on 14 December 2018 by Louise Hallsworth FCA (Senior Statutory Auditor) on behalf of James Cowper Kreston.

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