Rushcliffe Specialist Schools Limited - Limited company accounts 18.2
Rushcliffe Specialist Schools Limited - Limited company accounts 18.2
REGISTERED NUMBER: |
Strategic Report, |
Report of the Director and |
Financial Statements |
for the Year Ended 30 November 2018 |
for |
Rushcliffe Specialist Schools Limited |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Contents of the Financial Statements |
for the Year Ended 30 November 2018 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 4 |
Income Statement | 6 |
Other Comprehensive Income | 7 |
Statement of Financial Position | 8 |
Statement of Changes in Equity | 9 |
Notes to the Financial Statements | 10 |
Rushcliffe Specialist Schools Limited |
Company Information |
for the Year Ended 30 November 2018 |
DIRECTOR: |
SECRETARIES: |
Mrs K A Noon |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & |
Statutory Auditor |
3rd Floor |
Butt Dyke House |
33 Park Row |
Nottingham |
NG1 6EE |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Strategic Report |
for the Year Ended 30 November 2018 |
The director presents his strategic report for the year ended 30 November 2018. |
REVIEW OF BUSINESS |
During the period ended 30 November 2018 the company remained a holding company of Rushcliffe |
Specialist Schools (Mickleover) Limited. The company does not trade. |
PRINCIPAL RISKS AND UNCERTAINTIES |
With the company not trading directly it is relying on the trading performance of subsidiary Rushcliffe |
Specialist Schools (Mickleover) Limited and the parent Rushcliffe Care Limited to generate sufficient profits |
and cash to fund its overheads. The trading results of these companies are comfortably sufficient to cover |
these small amounts. |
DEVELOPMENT AND PERFORMANCE OF THE COMPANY |
With this business not carrying on a trade the measurement of performance can only be based on running |
costs of the company. |
Expenses are in line with the 2017 accounts with minimal variance. |
FINANCIAL KEY PERFORMANCE INDICATORS |
No key performance indicators are maintained as this is a holding company only. |
NON FINANCIAL KEY PERFORMANCE INDICATORS |
There are no non financial key performance indicators maintained as this is a holding company only. |
ON BEHALF OF THE BOARD: |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Report of the Director |
for the Year Ended 30 November 2018 |
The director presents his report with the financial statements of the company for the year ended 30 November 2018. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a holding company managing its |
subsidiary. |
DIVIDENDS |
No dividends will be distributed for the year ended 30 November 2018. |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, Report of the Directors and the financial |
statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law |
the directors have elected to prepare the financial statements in accordance with United Kingdom Generally |
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company |
law the directors must not approve the financial statements unless they are satisfied that they give a true and |
fair view of the state of affairs of the company and of the profit or loss of the company for that period. In |
preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain |
the company's transactions and disclose with reasonable accuracy at any time the financial position of the |
company and enable them to ensure that the financial statements comply with the Companies Act 2006. |
They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps |
for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he |
ought to have taken as a director in order to make himself aware of any relevant audit information and to |
establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Rushcliffe Specialist Schools Limited |
Opinion |
We have audited the financial statements of Rushcliffe Specialist Schools Limited (the 'company') for the year |
ended 30 November 2018 which comprise the Income Statement, Other Comprehensive Income, Statement |
of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a |
summary of significant accounting policies. The financial reporting framework that has been applied in their |
preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United |
Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 November 2018 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and |
applicable law. Our responsibilities under those standards are further described in the Auditors' |
responsibilities for the audit of the financial statements section of our report. We are independent of the |
company in accordance with the ethical requirements that are relevant to our audit of the financial statements |
in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in |
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and |
appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to |
report to you where: |
- | the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The director is responsible for the other information. The other information comprises the information in the |
Strategic Report and the Report of the Director, but does not include the financial statements and our Report |
of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent |
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, |
in doing so, consider whether the other information is materially inconsistent with the financial statements or |
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such |
material inconsistencies or apparent material misstatements, we are required to determine whether there is a |
material misstatement in the financial statements or a material misstatement of the other information. If, |
based on the work we have performed, we conclude that there is a material misstatement of this other |
information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Rushcliffe Specialist Schools Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of |
the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair |
view, and for such internal control as the director determines necessary to enable the preparation of financial |
statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to |
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going |
concern basis of accounting unless the director either intends to liquidate the company or to cease |
operations, or has no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free |
from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes |
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit |
conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. |
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, |
they could reasonably be expected to influence the economic decisions of users taken on the basis of these |
financial statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial |
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our |
Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of |
the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's |
members those matters we are required to state to them in a Report of the Auditors and for no other purpose. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the |
company and the company's members as a body, for our audit work, for this report, or for the opinions we |
have formed. |
for and on behalf of |
Chartered Accountants & |
Statutory Auditor |
3rd Floor |
Butt Dyke House |
33 Park Row |
Nottingham |
NG1 6EE |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Income Statement |
for the Year Ended 30 November 2018 |
2018 | 2017 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS and |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss | 5 |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Other Comprehensive Income |
for the Year Ended 30 November 2018 |
2018 | 2017 |
Notes | £ | £ |
LOSS FOR THE YEAR | ( |
) | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
( |
) |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Statement of Financial Position |
30 November 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the director on |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Statement of Changes in Equity |
for the Year Ended 30 November 2018 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 December 2016 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - | (6,342 | ) | (6,342 | ) |
Balance at 30 November 2017 | 1 | (139,677 | ) | (139,676 | ) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 November 2018 | ( |
) | ( |
) |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Notes to the Financial Statements |
for the Year Ended 30 November 2018 |
1. | STATUTORY INFORMATION |
Rushcliffe Specialist Schools Limited is a |
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. | ACCOUNTING POLICIES |
Basis of preparation |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d); |
• | the requirement of Section 33 Related Party Disclosures paragraph 33.7. |
Preparation of consolidated financial statements |
The financial statements contain information about Rushcliffe Specialist Schools Limited as an |
individual company and do not contain consolidated financial information as the parent of a group. The |
company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements as it and its subsidiary undertaking are included by full consolidation |
in the consolidated financial statements of its parent, Rushcliffe Care Holdings Limited, 3rd Floor, Butt |
Dyke House, 33 Park Row, Nottingham, NG1 6EE. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position 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. |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company has made a loss on ordinary activities before taxation of £6,980 (2017: £6,342). The |
statement of financial position details net current liabilities of £2,144,221 (2017: £2,137,241) and net |
liabilities of £146,656 (2017: £139,676). The parent company Rushcliffe Care Limited has confirmed |
that it will provide the company with adequate cash resources to finance its obligations during the |
course of the twelve months from the date of approval of the financial statements. It is on this basis |
that the director considers it appropriate to prepare the financial statements on a going concern basis. |
Investments |
Investments comprise shares in group undertakings and are held at cost, less any write downs and |
provision for impairment. |
3. | EMPLOYEES AND DIRECTORS |
There were no staff costs for the year ended 30 November 2018 nor for the year ended |
30 November 2017. |
2018 | 2017 |
£ | £ |
Director's remuneration |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
2018 | 2017 |
£ | £ |
Auditors' remuneration |
5. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 30 November 2018 nor for the year ended |
30 November 2017. |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakin |
£ |
COST |
At 1 December 2017 |
and 30 November 2018 |
NET BOOK VALUE |
At 30 November 2018 |
At 30 November 2017 |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Statement of Financial Position date in the share capital of |
companies include the following: |
Registered office: 3rd Floor, Butt Dyke House, 33 Park Row, Nottingham, NG1 6EE. |
Nature of business: |
% |
Class of shares: | holding |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed by group undertakings |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
Accruals and deferred income |
9. | SECURED DEBTS |
Lloyds Bank plc holds a debenture and first legal charge over the assets of the company. In addition |
Lloyds Bank plc hold in their favour an omnibus guarantee and set-off agreement for the company and |
for other companies within the group. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2017 | ( |
) |
Deficit for the year | ( |
) |
At 30 November 2018 | ( |
) |
Rushcliffe Specialist Schools Limited (Registered number: 07005286) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
party transactions with wholly owned subsidiaries within the group. |
13. | CONTROL RELATIONSHIP |
The immediate parent undertaking is the issued ordinary share capital. The registered office is 3rd Floor, Butt Dyke House, 33 Park Row, Nottingham, NG1 6EE. |
The ultimate controlling party is the director, Care Holdings Limited, the ultimate parent company. |
Copies of the group accounts for House. This is the only group that the company is consolidated into for the year. |