for the Period Ended 31 August 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 August 2020
Principal activities of the company
Political and charitable donations
Additional information
Review of Trading ActivitiesThe company was severely impacted by the restrictions put in place by Government to control the spread of Covid-19. The school shop was required to close from late March until July; the sports centre was closed to the general public from late March, and had not re-opened at the year-end; and, lettings and activities planned for the Easter and summer holidays were cancelled. These restrictions have had a material impact and on income and profitability in the year.Financial ReviewIncome in the year was £527,936 (2019: £859,794); this reduction was entirely due to the impact of Covid on the company’s ability to trade.The lost income was partially offset by furloughing employees and making use of the Government’s Coronavirus Job Retention Scheme. The company claimed £39,610 under this scheme in the financial year. Despite this support, the company made a loss of £(34,140) in the year (2019: profit of £110,645).As the company was loss making in the year it will not be possible to make a donation to Stamford Endowed Schools as has previously been the case (2019: £110,645).At the year end the company had a cash balance of £330,942 (2019: £204,255) and had a credit balance with Stamford Endowed Schools of £422,256 (2019: £197,766). The company had no other borrowing, other than normal commercial trade creditors.Going ConcernHaving made reasonable enquires the Directors are confident that the company has sufficient resources to continue to trade into the foreseeable future.While the company has made a loss this year, this is entirely attributable to the Coronavirus restrictions imposed by Government. Prior to the restrictions being imposed, the company was trading profitably and had a number of bookings in place for the 2020 Easter and summer holidays. The greatest risk facing the company is continuation of the Coronavirus restrictions which further prevent trading in the future. At the time of approving the Directors’ Report and Financial Statements the sports centre remained closed to the public and it is not clear whether summer lettings will be able to go ahead; the shop, however, continues to trade profitably. The company has taken advantage of the Government Coronavirus Job Retention Scheme, and has once again ‘furloughed’ staff during the lockdown which began in January 2021. The School has confirmed that it does not require immediate repayment of the inter-company balance in place between the company and the School at the year end; this support means that the Directors are content that the company has sufficient cash to carry on trading throughout the financial year 2021/21.
Directors
The directors shown below have held office during the whole of the period from
1 September 2019 to 31 August 2020
The director shown below has held office during the period of
1 September 2019 to 31 December 2019
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2020 | 2019 | |
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| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | ( | |
Profit(or loss) before tax: | ( | |
Profit(or loss) for the financial year: | ( | |
As at
Notes | 2020 | 2019 | |
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| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Debtors: | 5 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 6 | ( | ( |
Net current assets (liabilities): | ( | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Other reserves: | | | |
Profit and loss account: | ( | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 August 2020
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 August 2020
2020 | 2019 | |
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Average number of employees during the period | | |
for the Period Ended 31 August 2020
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 September 2019 | | | ||||
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Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 August 2020 | | | ||||
Depreciation | ||||||
At 1 September 2019 | | | ||||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 August 2020 | | | ||||
Net book value | ||||||
At 31 August 2020 | | | ||||
At 31 August 2019 | | |
for the Period Ended 31 August 2020
2020 | 2019 | |
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£ | £ | |
Stocks | | |
Total | | |
for the Period Ended 31 August 2020
2020 | 2019 | |
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£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Total | | |
for the Period Ended 31 August 2020
2020 | 2019 | |
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£ | £ | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |