Jubilee House Christian School Filleted accounts for Companies House (small and micro)

JUBILEE HOUSE CHRISTIAN SCHOOL - Company Information

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COMPANY REGISTRATION NUMBER: 04040210

Jubilee House Christian School

Filleted Unaudited Financial Statements

31 July 2018

Jubilee House Christian School

Statement of Financial Position

31 July 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		1,090	1,453

Current assets

Debtors	6	2,381	2,645
Cash at bank and in hand		50,864	46,202
		--------	--------
		53,245	48,847

Creditors: amounts falling due within one year	7	22,878		16,614
		--------		--------
Net current assets			30,367	32,233
			--------	--------
Total assets less current liabilities			31,457	33,686

Creditors: amounts falling due after more than one year	8	612	11,320
		--------	--------
Net assets		30,845	22,366
		--------	--------

Capital and reserves

Profit and loss account	30,845	22,366
	--------	--------
Members funds	30,845	22,366
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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 comprehensive income has not been delivered.

For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

Jubilee House Christian School

Statement of Financial Position (continued)

31 July 2018

These financial statements were approved by the board of directors and authorised for issue on 14 December 2018 , and are signed on behalf of the board by:

Mr R J Davidson	Mrs S Ellis-Burke
Trustee	Trustee

Company registration number: 04040210

Jubilee House Christian School

Notes to the Financial Statements

Year ended 31 July 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House Christian School , Beauvale, Newthorpe, Nottinghamshire, NG16 2EZ.

2. Statement of compliance

These financial statements 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 financial statements 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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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:

	Fixture & Fittings	-	25% reducing balance

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.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 34 (2017: 8 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 August 2017 and 31 July 2018	6,639	6,639
	-------	-------
Depreciation
At 1 August 2017	5,186	5,186
Charge for the year	363	363
	-------	-------
At 31 July 2018	5,549	5,549
	-------	-------
Carrying amount
At 31 July 2018	1,090	1,090
	-------	-------
At 31 July 2017	1,453	1,453
	-------	-------

6. Debtors

	2018	2017
	£	£
Trade debtors	2,381	2,645
	-------	-------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	2,800	6,124
Trade creditors	1,500	3,733
Social security and other taxes	5,985	3,157
Other creditors	12,593	3,600
	--------	--------
	22,878	16,614
	--------	--------

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

	2018	2017
	£	£
Bank loans and overdrafts	612	11,320
	----	--------

9. Related party transactions

The company was under the control of Mr R Davidson throughout the current year. Mr R Davidson is the managing director. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.