Company registration number: 13075638
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FOR THE YEAR ENDED
31 DECEMBER 2022
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YARROW HEIGHTS SCHOOL LTD
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YARROW HEIGHTS SCHOOL LTD
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COMPANY INFORMATION
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Chartered Accountants & Statutory Auditor
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YARROW HEIGHTS SCHOOL LTD
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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YARROW HEIGHTS SCHOOL LTD
REGISTERED NUMBER:13075638
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 6 form part of these financial statements.
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YARROW HEIGHTS SCHOOL LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Yarrow Heights School Ltd is a private company limited by shares, registered and incorporated in England and Wales. The registration number and address of its registered office are disclosed on the Company Information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The Directors consider that the company has sufficient resources and support from Parent Company to continue operational existence for the foreseeable future. The Directors have a clear plan to increase pupil numbers to, or close to, capacity over the next 12 months.
Specifically within creditors due within one year is a loan due to the Parent Company of £377,332. The Parent Company has confirmed this loan will not be recalled until such time that the company had the resources to pay it.
For this reason, the Directors have decided to adopt the going concern basis of accounting in preparing these financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Fee income
Fees are raised termly (or for the remainder of the term if a pupil joins mid-way through the term) and are calculated based on the number of weeks in that term (based on a 39 week year). Fee income is invoiced no more than 6 weeks before the start of term to Local Authorities or as soon as the admission date is confirmed if a pupil joins mid-way through the term. Where purchase orders are raised by the Local Authority, then this number is quoted on the invoice.
Income is deferred and released in the period to which it relates. If a placement is terminated mid-term, a credit note will be raised for any weeks after the termination date.
Uniform income
Income is recognised when the parents receive uniform that is additional to the initial uniform offered on induction.
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YARROW HEIGHTS SCHOOL LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Leasehold property improvements
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
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The average monthly number of employees, including directors, during the year was 58 (2021 -20).
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YARROW HEIGHTS SCHOOL LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Leasehold property improvements
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Charge for the year on owned assets
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Prepayments and accrued income
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YARROW HEIGHTS SCHOOL LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2021 -1) Ordinary share of £1.00
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At 31 December 2022 the Company had capital commitments as follows:
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Contracted for but not provided in these financial statements
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The Company operates a defined contributions pension scheme. Contributions totalling £7,641 were payable to the fund at the reporting date and are included in creditors.
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YARROW HEIGHTS SCHOOL LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Commitments under operating leases
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At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The company has taken the advantage of the exemptions provided by Section 33 under FRS 102 'Related Party
Disclosures' and has not disclosed transactions entered into between two or more members of a group, provided
that any subsidiary undertaken which is party to the transaction is wholly owned by a member of that group.
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The parent of the smallest group for which consolidated financial statements are drawn up in is Yarrow Heights Holdings Ltd, a company incorporated in England and Wales. These consolidated accounts are available at the registered office of Yarrow Heights Holdings Limited.
The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.
The audit report was signed on 25 September 2023 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.
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