Contents of the Financial Statements

for the Period Ended 31 August 2023

Directors' report period ended 31 August 2023

The directors present their report with the financial statements of the company for the period ended 31 August 2023

Directors

The director shown below has held office during the whole of the period from
1 September 2022 to 31 August 2023

The directors shown below have held office during the period of
1 September 2022 to 24 November 2022

The directors shown below have held office during the period of
24 November 2022 to 31 August 2023

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
11 March 2024

And signed on behalf of the board by:
Name: Mr M Howard-Cairns
Status: Director

Profit And Loss Account

for the Period Ended 31 August 2023

Balance sheet

As at 31 August 2023

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 August 2023

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax. Turnover from the sale of goods is recognised when the significant risk and rewards of ownership of the goods has transferred to the buyer.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, estimated at between three and ten years, on a straight-line basis.

  Other accounting policies

  Going ConcernAt the time of approving the financial statements, the directors can confirm that they have a reasonable expectation that the company has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Director's Responsibilities Statement on page 1.Exemptions for Qualifying Entities under FRS102The company has taken advantage of the FRS 102 disclosure exemptions to prepare a statement of cash flows.Consolidated Financial StatementsThe company is a wholly owned subsidiary of The Clifton College, a registered Charity. It is included in the consolidated financial statements of The Clifton College, which are publicly available. The ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is The Clifton College. The address of the parent’s registered office is 32 College Road, Clifton, Bristol, BS8 3JH.These financial statements are the company’s separate financial statements.Employee BenefitsThe company provides a range of benefits to employees including paid holiday arrangements and defined contribution pension plans.Short-term employee benefits and contributions to defined contribution pension schemes are recognised as an expense in the period in which they are incurred.The company makes contributions to defined contribution pension schemes operated by The Clifton College, the company's controlling party. The costs of these contributions are charged to the company by The Clifton College and are charged in the company's accounts as incurred.Donations to the parentThe company donates profits to The Clifton College, a registered charity. During the period the company paid £209,884 (2022: £nil) to The Clifton College.StocksStock is valued at the lower of cost and net realisable value after making due allowance for obsolescence and slow movement.DebtorsTrade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.CreditorsTrade and other creditors 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 receipts discounted at a market rate of interest.Cash at bank and in handCash at bank and in hand includes cash and short-term liquid investments.Critical accounting estimates and assumptionsThe company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.Useful economic lives of tangible assets (note 8):The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed periodically. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Notes to the Financial Statements

for the Period Ended 31 August 2023

• 2. Employees

  	2023	2022
  Average number of employees during the period	66	52