WILDES_EDUCATION_LIMITED - Accounts
WILDES_EDUCATION_LIMITED - Accounts
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 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.
Wildes Education Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wildes House, Worksop Road, Clowne, Chesterfield, S43 4TD.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons employed by the company during the year was:
There is a debenture dated 19 September 2012, between the company and Santander UK plc. This debenture is secured with fixed and floating charges against all assets an liabilities of the company and any group it is a member of.
The following transactions were entered into with companies Mr P E Wildes held an interest in:
During the year £52,311 was advanced to W Investment Group Limited. As at 31 March 2021, the balance remaining was £1,713,651 (2020: £1,772,222). This is disclosed under amounts due from connected companies.
During the year £nil was advanced to Van Dyk Country House Hotel Limited. As at 31 March 2021, the balance remaining was £71,250 (2020: £71,250). This is disclosed under amounts due from connected companies.
During the year £70,000 was advanced to P Wildes Group Limited. As at 31 March 2021, the balance remaining was £200 (2020: £70,200). This is disclosed under amounts due from connected companies.
During the year £5,000 was advanced from Crewe Hotel (Guernsey) Limited. As at 31 March 2021, the balance remaining was £25,000 (2020: £20,000). This is disclosed under amounts due from connected companies.
During the year £26,788 was advanced from Crewe Hotel Trading Limited. As at 31 March 2021, the balance remaining was £26,788 (2020: £nil). This is disclosed under amounts due from connected companies.
During the year £10,005 was advanced to Bluebell Hospitality Limited. As at 31 March 2021, the balance remaining was £37,164 (2020: £47,169). This is disclosed under amounts due from connected companies.
During the year £6,356 was advanced to Van Dyk By Wildes Limited. As at 31 March 2021, the balance remaining was £32,883 (2020: £39,239). This is disclosed under amounts due from connected companies.
During the year £17,000 was advanced from Wildes House Limited. As at 31 March 2021, the balance remaining was £17,000 (2020: £nil). This is disclosed under amounts due from connected companies.
During the year £40,682 was advanced from Van Dyk Limited. As at 31 March 2021, the balance remaining was £40,682 (2020: £nil). This is disclosed under amounts due from connected companies.
During the year £nil was advanced to Wildes Branded Hotels Limited. As at 31 March 2021, the balance due to Wildes Education Limited was £27,779 (owing to in 2020: £27,779). This is disclosed under amounts due from connected companies.
The ultimate controlling party of Wildes Education Limited is Mr P E Wildes.