Taypenny Schools Limited - Abbreviated accounts 16.3

Taypenny Schools Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 03090822















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

TAYPENNY SCHOOLS LIMITED

TAYPENNY SCHOOLS LIMITED (REGISTERED NUMBER: 03090822)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 31 AUGUST 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

TAYPENNY SCHOOLS LIMITED

COMPANY INFORMATION
for the year ended 31 AUGUST 2016







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

TAYPENNY SCHOOLS LIMITED (REGISTERED NUMBER: 03090822)

ABBREVIATED BALANCE SHEET
31 AUGUST 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 1,092,110 1,100,290

CURRENT ASSETS
Stocks 84 83
Debtors 52,653 51,514
Cash at bank and in hand 18,347 45,485
71,084 97,082
CREDITORS
Amounts falling due within one year 3 109,404 96,326
NET CURRENT (LIABILITIES)/ASSETS (38,320 ) 756
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,053,790

1,101,046

CREDITORS
Amounts falling due after more than one
year

3

(509,945

)

(533,303

)

PROVISIONS FOR LIABILITIES (6,085 ) (6,025 )
NET ASSETS 537,760 561,718

CAPITAL AND RESERVES
Called up share capital 4 264,000 264,000
Revaluation reserve 345,937 345,937
Profit and loss account (72,177 ) (48,219 )
SHAREHOLDERS' FUNDS 537,760 561,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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.

TAYPENNY SCHOOLS LIMITED (REGISTERED NUMBER: 03090822)

ABBREVIATED BALANCE SHEET - continued
31 AUGUST 2016


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 22 May 2017 and were signed on its behalf by:





Mrs M D Taylor - Director


TAYPENNY SCHOOLS LIMITED (REGISTERED NUMBER: 03090822)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 31 AUGUST 2016

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 January
2015).

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 £46,058.

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.

TAYPENNY SCHOOLS LIMITED (REGISTERED NUMBER: 03090822)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 31 AUGUST 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 September 2015 1,337,176
Additions 18,352
At 31 August 2016 1,355,528
DEPRECIATION
At 1 September 2015 236,886
Charge for year 26,532
At 31 August 2016 263,418
NET BOOK VALUE
At 31 August 2016 1,092,110
At 31 August 2015 1,100,290

3. CREDITORS

Creditors include an amount of £ 532,323 (2015 - £ 554,839 ) for which security has been given.

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

2016 2015
£    £   
Repayable by instalments 413,835 438,656

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
264,000 Ordinary £1 264,000 264,000