Taypenny Schools Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03090822

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2015

FOR

TAYPENNY SCHOOLS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs M D Taylor

Mrs J J Beardsley

SECRETARY:

Mrs M Taylor

REGISTERED OFFICE:

4 Beaufort West

Bath

BA1 6QB

REGISTERED NUMBER:

03090822

ACCOUNTANTS:

Graham Barber Accountancy Limited

4 Beaufort West

Bath

BA1 6QB

BANKERS:

Lloyds TSB Bank plc

PO Box 112

Canons House

Canons Way

BRISTOL

BS99 7LB

FIXED ASSETS

Tangible assets

2

1,100,290

1,111,234

CURRENT ASSETS

Stocks

83

84

Debtors

51,514

40,481

Cash at bank and in hand

45,485

84,793

97,082

125,358

CREDITORS

Amounts falling due within one year

3

96,326

120,315

NET CURRENT ASSETS

756

5,043

TOTAL ASSETS LESS CURRENT LIABILITIES

1,101,046

1,116,277

CREDITORS

Amounts falling due after more than one year

3

(533,303

)

(555,788

)

PROVISIONS FOR LIABILITIES

(6,025

)

(6,565

)

NET ASSETS

561,718

553,924

CAPITAL AND RESERVES

Called up share capital

4

264,000

264,000

Revaluation reserve

345,937

345,937

Profit and loss account

(48,219

)

(56,013

)

SHAREHOLDERS' FUNDS

561,718

553,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 May 2016 and were signed on its behalf by:

Mrs M D Taylor - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents fees earned from the provision of educational services to pupils at the school.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

School equipment

-

33% on cost

Fixtures, fittings and kitchen equipment

-

33% on cost

Library

-

33% on cost

Computer equipment

-

33% on cost and 25% on cost

Depreciation is provided on building improvements at 2% per annum. At 31 July 2004, building improvements

amounted to £368,905. Subsequent additions are £37,961.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is provided in full in respect of all timing differences that have originated but not reversed by the

balance sheet date except for taxable gains arising on revaluations or sales if it is more likely than not that the

gain will be rolled over into a replacement asset. Deferred tax assets are recognised where it is considered more

likely than not that future profits will be available for offset.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 September 2014

1,324,181

Additions

12,995

At 31 August 2015

1,337,176

DEPRECIATION

At 1 September 2014

212,947

Charge for year

23,939

At 31 August 2015

236,886

NET BOOK VALUE

At 31 August 2015

1,100,290

At 31 August 2014

1,111,234

3.

CREDITORS

Creditors include an amount of £ 554,839 (2014 - £ 576,785 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

438,656

464,855

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

264,000

Ordinary

£1

264,000

264,000