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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2018 |
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FOR |
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NEWMAN SCHOOLS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2018 |
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FOR |
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NEWMAN SCHOOLS LIMITED |
NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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NEWMAN SCHOOLS LIMITED |
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COMPANY INFORMATION |
for the year ended 31 August 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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BALANCE SHEET |
31 August 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | 11 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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BALANCE SHEET - continued |
31 August 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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Newman Schools Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes that the |
company will continue to trade for the foreseeable future. This basis is dependant on the ongoing long |
term support of the company's directors and bankers as the financial statements of the company show |
Net Current Liabilities and Total Net Liabilities. |
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Banking facilities have been negotiated, and are in place until 30th September 2018. The directors are |
confident that these facilities will be renewed at that time and have no reasons to doubt that the bank |
will renew the facilities. The directors have confirmed their intention to continue to support the company |
for the foreseeable future so that it will continue as a going concern. These financial statements do not |
include any adjustments that may be necessary should this basis not be appropriate. |
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Turnover |
Turnover represents school fees for the academic year together with income arising from ancillary |
services for the academic year. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Short leasehold | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets are initially recognised at their original cost plus any cost of bringing the asset |
into useable condition. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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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 profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2017 |
and 31 August 2018 |
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AMORTISATION |
At 1 September 2017 |
and 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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Disposals | ( |
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( |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Fixtures |
and |
fittings |
£ |
COST |
At 1 September 2017 |
and 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 94,452 | 50,000 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Other creditors |
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Directors loan account | 3,429,321 | 3,362,725 |
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NEWMAN SCHOOLS LIMITED (REGISTERED NUMBER: 03941615) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2018 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Hire purchase contracts | 4,297 | 9,454 |
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The company's bank overdraft facility is secured by a personal guarantee from Mr W N Dore and Mr D |
G Newman. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | RESERVES |
Retained |
earnings |
£ |
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At 1 September 2017 | ( |
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Deficit for the year | ( |
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At 31 August 2018 | ( |
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