Papillon House School Limited Filleted accounts for Companies House (small and micro)

PAPILLON HOUSE SCHOOL LIMITED - Company Information

57 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05713835 2022-09-01 2023-08-31 05713835 2023-08-31 05713835 2022-08-31 05713835 2021-09-01 2022-08-31 05713835 2022-08-31 05713835 core:LandBuildings 2022-09-01 2023-08-31 05713835 core:FurnitureFittings 2022-09-01 2023-08-31 05713835 core:MotorVehicles 2022-09-01 2023-08-31 05713835 bus:Director1 2022-09-01 2023-08-31 05713835 core:LandBuildings 2022-08-31 05713835 core:FurnitureFittings 2022-08-31 05713835 core:MotorVehicles 2022-08-31 05713835 core:LandBuildings 2023-08-31 05713835 core:FurnitureFittings 2023-08-31 05713835 core:MotorVehicles 2023-08-31 05713835 core:WithinOneYear 2023-08-31 05713835 core:WithinOneYear 2022-08-31 05713835 core:AfterOneYear 2023-08-31 05713835 core:AfterOneYear 2022-08-31 05713835 core:ShareCapital 2023-08-31 05713835 core:ShareCapital 2022-08-31 05713835 core:RetainedEarningsAccumulatedLosses 2023-08-31 05713835 core:RetainedEarningsAccumulatedLosses 2022-08-31 05713835 core:BetweenOneFiveYears 2023-08-31 05713835 core:BetweenOneFiveYears 2022-08-31 05713835 core:MotorVehicles 2022-08-31 05713835 bus:SmallEntities 2022-09-01 2023-08-31 05713835 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05713835 bus:FullAccounts 2022-09-01 2023-08-31 05713835 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05713835 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05713835 core:OfficeEquipment 2022-09-01 2023-08-31 05713835 core:OfficeEquipment 2022-08-31 05713835 core:OfficeEquipment 2023-08-31

COMPANY REGISTRATION NUMBER: 05713835

Papillon House School Limited

Filleted Unaudited Accounts

31 August 2023

Papillon House School Limited

Statement of Financial Position

31 August 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5		11,123		13,279

Current assets

Debtors	6	415,500	250,252
Cash at bank and in hand		1,358,174	1,165,446
		------------	------------
		1,773,674	1,415,698

Creditors: amounts falling due within one year	7	( 203,238)		( 83,820)
		------------		------------
Net current assets			1,570,436		1,331,878
			------------		------------
Total assets less current liabilities			1,581,559		1,345,157

Creditors: amounts falling due after more than one year	8	( 6,805)	( 8,755)
		------------	------------
Net assets		1,574,754	1,336,402
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,574,654	1,336,302
	------------	------------
Shareholders funds	1,574,754	1,336,402
	------------	------------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Papillon House School Limited

Statement of Financial Position (continued)

31 August 2023

These accounts were approved by the board of directors and authorised for issue on 29 May 2024 , and are signed on behalf of the board by:

G A Hutton
Director

Company registration number: 05713835

Papillon House School Limited

Notes to the Accounts

Year ended 31 August 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The principal place of business is Pebble Close, Tadworth, Surrey, KT20 7PA.

2. Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Pension costs

The company contributes to a pension scheme in the name of and for the benefit of some of its employees. The contributions payable are charged to the profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue represents the total amount receivable by the company for tuitions and other services provided and is recognised on a straight line basis over the period of the provision. Where fees are invoiced in advance they are deferred on the balance sheet and recognised as revenue over the period of the service provision.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	10% straight line
Fixtures & Fittings	-	25% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 57 (2022: 55 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 September 2022	71,099	32,411	11,218	328,744	443,472
Additions	–	–	–	6,849	6,849
	--------	--------	--------	---------	---------
At 31 August 2023	71,099	32,411	11,218	335,593	450,321
	--------	--------	--------	---------	---------
Depreciation
At 1 September 2022	71,099	32,411	8,067	318,616	430,193
Charge for the year	–	–	787	8,218	9,005
	--------	--------	--------	---------	---------
At 31 August 2023	71,099	32,411	8,854	326,834	439,198
	--------	--------	--------	---------	---------
Carrying amount
At 31 August 2023	–	–	2,364	8,759	11,123
	--------	--------	--------	---------	---------
At 31 August 2022	–	–	3,151	10,128	13,279
	--------	--------	--------	---------	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	166,823	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	213,648	213,648
Other debtors	35,029	36,604
	---------	---------
	415,500	250,252
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	6,114	33,307
Corporation tax	145,380	32,967
Social security and other taxes	23,870	–
Other creditors	27,874	17,546
	---------	--------
	203,238	83,820
	---------	--------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	6,805	8,755
	-------	-------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2023	2022
	£	£
Not later than 1 year	184,974	184,974
Later than 1 year and not later than 5 years	541,243	726,217
	---------	---------
	726,217	911,191
	---------	---------

10. Director's advances, credits and guarantees

During the year a loan of £1,080 was made to the director which has been repaid after the year end.

11. Controlling party

The ultimate parent company is Papillon House School Holdings Limited (formerly G Hutton Limited). Group accounts are not prepared as the group is small.