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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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BLUE SKIES SCHOOL LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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FOR |
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BLUE SKIES SCHOOL LTD |
BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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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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BLUE SKIES SCHOOL LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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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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Bryant House |
Bryant Road |
Strood |
Rochester |
Kent |
ME2 3EW |
BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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BALANCE SHEET |
31 AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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BALANCE SHEET - continued |
31 AUGUST 2017 |
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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
its behalf by: |
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BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Blue Skies School Ltd is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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These financial statements have been prepared in accordance with Financial Reporting Standard 102, |
The Financial Reporting Standard applicable in the UK and Republic of Ireland, including Section 1A, |
and the Companies Act 2006. There are no material departures from FRS 102. |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has transferred from previously extant UK GAAP to FRS 102 as at 1 September 2015. |
The transition has not resulted in any presentational changes and there has been no impact on the |
reported financial position and financial performance. |
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Transition to FRS 102 |
This is the first year that the company has presented its financial statements under FRS 102. There |
were no changes to the previously stated equity at 1 September 2015 or 1 September 2016 as a result |
of the transition and no changes to the profit previously reported for the year ended 31 August 2016. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
discounts.The policies adopted for the recognition of turnover are as following: |
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- Sale of goods |
Turnover from the sale of goods is recognised at the point of sale. |
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- Rendering of services |
When providing day services, turnover is usually recognised on completion of the service and, for |
monthly engagements, it is recognised by reference to the stage of completion at the balance sheet |
date, |
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- Interest receivable |
Interest income is recognised using the effective interest method. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Government grants |
Government grants shall not be recognised until there is a reasonable assurance that the company will |
comply with the conditions attached to them and that the grants will be received. Income is recognised |
using the accrual model. |
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BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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3. | 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 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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for administrative staff, and also makes |
contributions into the Teachers' Pension Scheme for teaching staff, a defined benefit scheme run by |
the Teachers' Pension Agency. |
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Contributions payable to the defined contribution pension scheme are charged to the profit and loss |
account in the period to which they relate. |
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Teaching staff belong to the Teacher's Pension Scheme. This is an unfunded defined benefit scheme |
operated by the Government with contributions calculated on an actuarial basis, but set in relation to |
the current service period only. In accordance with paragraph 9(a) of FRS17 the contributions have |
been accounted for as if this were a defined contribution scheme. The employer's contribution was |
16.48% for the year. |
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Employee benefits |
The company recognises a provision for annual leave accrued by employees as a result of services |
rendered in current period, and which employees are entitled to carry forward and use within the next |
12 months. The provision is measured at the salary cost payable for the period of absence. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2016 |
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Additions |
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Disposals |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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BLUE SKIES SCHOOL LTD (REGISTERED NUMBER: 06427312) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Other loans |
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Included in other loans is a mortgage of £156,009 (2016: £172,214) which is secured on 126 |
Maidstone Road, the property included within the accounts, and a fixed and floating charge over the |
assets of the business. |
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10. | OPERATING LEASES, CAPITAL AND CONTINGENT LIABILITIES |
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Total financial commitments, guarantees and contingencies which are not included in the balance |
sheet amount to £8,995 (2016: £5,063) |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 August 2017 and |
31 August 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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The loans from the directors to the company are charged with an interest rate of 10%, are unsecured |
and repayable on demand. |
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12. | PENSIONS |
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The pension cost charge of £29,623 (2016 - £16,755) represents
contributions paid for the staff at 16.48%
(2016 - 16.48%) of their gross salaries per month. Outstanding contributions on the balance
sheet a mounted to £3,151 (2016 - £31). |