St Margaret's Enterprises Limited Annual Report and Financial Statements For the year ended 31 August 2021 

Company Registration No. 05565055 (England and Wales) 



## St Margaret's Enterprises Limited 

## Company Information 

|**Directors**|Mr N Howe||
|---|---|---|
||Ms Y Jones-Henry||
||Mr L Miller|(Appointed 6 July 2021)|
|**Secretary**|A Francombe||
|**Company number**|05565055||
|**Registered office**|St Margaret's School||
||Merry Hill Road||
||Bushey||
||Hertfordshire||
||WD23 1DT||
|**Auditor**|Moore Kingston Smith LLP||
||4 Victoria Square||
||St Albans||
||Hertfordshire||
||AL1 3TF||
|**Business address**|St Margaret's School||
||Merry Hill Road||
||Bushey||
||Hertfordshire||
||WD23 1DT||





## St Margaret's Enterprises Limited 

## Contents 

||**Page**|
|---|---|
|Directors' report|1|
|Directors' responsibilities statement|2|
|Independent auditor's report|3 - 6|
|Statement of income and retained earnings|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 14|





## St Margaret's Enterprises Limited 

Directors' Report 

For the year ended 31 August 2021 

The directors present their annual report and financial statements for the year ended 31 August 2021. 

## **Principal activities** 

The principal activity of the company continued to be that of managing the commercial and non-educational business activities of the St Margaret's School, such as third party use of the Sports Centre and residential Summer Schools / Camps. 

## **Directors** 

The directors who held office during the year and up to the date of signature of the financial statements were as follows: 

Rev W Gibbs (Resigned 28 June 2021) Mr N Howe Ms Y Jones-Henry Mr L Miller (Appointed 6 July 2021) 

## **Statement of disclosure to auditor** 

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s  auditor  is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s  auditor  is aware of that information. 

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 

On behalf of the board 

.............................. Mr L Miller **Director** Date: ......................... 

Page 1 



## St Margaret's Enterprises Limited 

## Directors' Responsibilities Statement 

For the year ended 31 August 2021 

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgements and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Page 2 



## St Margaret's Enterprises Limited 

## Independent Auditor's Report 

To the Members of St Margaret's Enterprises Limited 

## **Opinion** 

We have audited the financial statements of St Margaret's Enterprises Limited (the 'company') for the year ended 31 August 2021 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and notes to the financial statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the company's affairs as at 31 August 2021 and of its loss for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the  financial statements_ section of our report. We are independent of the  company in accordance with the ethical requirements that are relevant to our audit of the  financial statements in the UK, including the FRC’s Ethical Standard , and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Emphasis of matter - financial statements prepared on a basis other than going concern** 

We draw attention to Note 1.2 to the financial statements which explains that  the directors have decided to cease trading within the period of twelve months from the date of the approval of the financial statements. Accordingly the financial statements have been prepared on a basis other than that of a going concern.  Our opinion is not modified in this respect of this matter. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of our audit : 

- the information given in the Directors'  R eport for the financial year for which the financial statements are prepared is consistent with the financial statements ; and 

- the Directors' Report has been prepared in accordance with applicable legal requirements. 

Page 3 



## St Margaret's Enterprises Limited 

## Independent Auditor's Report (Continued) 

To the Members of St Margaret's Enterprises Limited 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the Directors'  R eport . 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of  directors' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report and take advantage of the small companies exemption from the requirement to prepare a Strategic Report. 

## **Responsibilities of directors** 

As explained more fully in the Directors'  R esponsibilities  S tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of  financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the  financial statements , the  directors are responsible for assessing the company ' s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the  directors either  intend  to liquidate the company or to cease operations, or have no realistic alternative but to do so. 

Page 4 



## St Margaret's Enterprises Limited 

## Independent Auditor's Report (Continued) 

To the Members of St Margaret's Enterprises Limited 

## **Auditor's responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the  financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an  auditor's report that includes our opinion. Reasonable assurance is a high level of assurance , but is not a guarantee that an audit conducted in accordance with  ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these  financial statements . 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. 

- Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

Page 5 



## St Margaret's Enterprises Limited 

## Independent Auditor's Report (Continued) 

## To the Members of St Margaret's Enterprises Limited 

## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. 

Our approach was as follows: 

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation. 

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance. 

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. 

- We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations. 

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

## **Use of our report** 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed. 

**Shivani Kothari (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP** 

**Chartered Accountants Statutory Auditor** 

Date: ......................... 4 Victoria Square St Albans Hertfordshire AL1 3TF 

Page 6 



## St Margaret's Enterprises Limited 

## Statement of Income and Retained Earnings 

For the year ended 31 August 2021 

|||**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
|**Turnover**||294,119|337,162|
|Administrative expenses||(475,982)|(492,054)|
|Other operating income||78,178|55,941|
|**Operating loss**||(103,685)|(98,951)|
|Interest payable and similar expenses|**4**|(815)|(579)|
|**Loss before taxation**||(104,500)|(99,530)|
|Tax on loss||-|-|
|**Loss for the financial year**||(104,500)|(99,530)|
|Retained earnings brought forward||(98,015)|1,515|
|Retained earnings carried forward||(202,515)|(98,015)|



Page 7 



## St Margaret's Enterprises Limited 

## Balance Sheet 

## As at 31 August 2021 

||||**2021**|||**2020**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**||**£**|
|**Fixed assets**||||||||
|Tangible assets|**5**|||87,155|||130,198|
|**Current assets**||||||||
|Debtors|**6**|25,259|||12,502|||
|Cash at bank and in hand||17,542|||64,156|||
|||42,801|||76,658|||
|**Creditors: amounts falling due within**||||||||
|**one year**|**7**|(288,653)|||(259,371)|||
|**Net current liabilities**||||(245,852)|||(182,713)|
|**Total assets less current liabilities**||||(158,697)|||(52,515)|
|**Creditors: amounts falling due after**||||||||
|**more than one year**|**8**|||(43,817)|||(45,499)|
|**Net liabilities**||||(202,514)|||(98,014)|
|**Capital and reserves**||||||||
|Called up share capital|**9**|||1|||1|
|Profit and loss reserves||||(202,515)|||(98,015)|
|**Total equity**||||(202,514)|||(98,014)|



These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by: 

.............................. 

Mr L Miller **Director** 

## **Company Registration No. 05565055** 

Page 8 



## St Margaret's Enterprises Limited 

## Notes to the Financial Statements 

For the year ended 31 August 2021 

## **1 Accounting policies** 

## **Company information** 

St Margaret's Enterprises Limited is a private  company limited by shares incorporated in  England and Wales .  The registered office is St Margaret's School, Merry Hill Road, Bushey, Hertfordshire, WD23 1DT. 

## **1.1 Accounting convention** 

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts  in these financial statements are  rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares  publicly available consolidated financial statements , including this company, which are  intended to give a true and fair view of the assets, liabilities,  financial position and profit or loss of the group . T he company has therefore taken advantage of  e xemptions from the following disclosure requirements: 

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures; 

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues : Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income; 

- Section 26 ‘Share based Payment’ : Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements ; 

- Section 33 ‘Related Party Disclosures’ : Compensation for key management personnel . 

The financial statements of the company are consolidated in the financial statements of  St Margaret's School, Bushey . These consolidated financial statements are available from its registered office, Merry Hill Road, Bushey, Hertfordshire, WD23 1DT. 

## **1.2 Going concern** 

As disclosed in note 9 to the financial statements, the directors have decided to cease trading within the period of twelve months from the date of approval of these financial statements. Accordingly the financial statements have been prepared on a basis other than that of a going concern. There were no material adjustments to the presentation of the figures in the financial statements as a result of this. 

Page 9 



Notes to the Financial Statements (Continued) 

## St Margaret's Enterprises Limited 

For the year ended 31 August 2021 

## **1 Accounting policies** 

## **(Continued)** 

## **1.3 Turnover** 

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes .  The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.  Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that  it is probable will be recover ed . 

## **1.4 Tangible fixed assets** 

Tangible fixed assets  are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Improvements to land and buildings 

Straight line basis over 8 years 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and  is credited or charged to profit or loss . 

## **1.5 Impairment of fixed assets** 

At each reporting  period  end date, the  company  reviews the carrying amounts of its tangible  assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the  company  estimates the recoverable amount of the cash-generating unit to which the asset belongs. 

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in  profit or  loss , unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. 

Page 10 



Notes to the Financial Statements (Continued) 

## St Margaret's Enterprises Limited 

For the year ended 31 August 2021 

## **1 Accounting policies** 

## **(Continued)** 

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)  in  prior years. A reversal of an impairment loss is recognised immediately in  profit or  loss , unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 

## **1.6 Cash at bank and in hand** 

Cash and cash equivalents  are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.7 Financial instruments** 

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## _**Basic financial assets**_ 

Basic financial assets, which include  debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest  method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Classification of financial liabilities**_ 

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 company after deducting all of its liabilities. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including  creditors , bank loans, loans from  fellow group companies and preference shares that are classified as debt, are  initially recognised at transaction price unless the arrangement constitutes a  financing transaction, where the debt instrument is measured at the present value of  the future  paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective  interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired  in the ordinary course of business from suppliers. A m ounts payable are classified as  current liabilities if payment is due within one year or less. If not, they are presented  as non-current liabilities.  Trade creditors  are recognised initially at transaction price  and subsequently measured at amortised cost using the effective interest method. 

Page 11 



## St Margaret's Enterprises Limited 

## Notes to the Financial Statements (Continued) 

For the year ended 31 August 2021 

## **1 Accounting policies** 

## **(Continued)** 

## **1.8 Equity instruments** 

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. 

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. 

## **1.9 Employee benefits** 

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or  fixed assets . 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.10 Leases** 

Rentals payable under operating leases,  including any lease incentives received, are charged to  profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed. 

## **2 Judgements and key sources of estimation uncertainty** 

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

## **3 Employees** 

The average monthly number of persons (including directors) employed by the company during the year was: 

||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Total|38|64|



Page 12 



## St Margaret's Enterprises Limited 

## Notes to the Financial Statements (Continued) 

For the year ended 31 August 2021 

|**4**<br>**Interest payable and similar expenses**<br>**2021**<br>**£**<br>Interest payable and similar expenses includes the following:<br>Interest payable to group undertakings<br>815<br>**5**<br>**Tangible fixed assets**<br>**Improvements**<br>**to land and**<br>**buildings**<br>**Plant and**<br>**machinery**<br>**etc**<br>**£**<br>**£**<br>**Cost**<br>At 1 September 2020 and 31 August 2021<br>198,052<br>257,693<br>**Depreciation and impairment**<br>At 1 September 2020<br>100,171<br>225,376<br>Depreciation charged in the year<br>24,757<br>18,286<br>At 31 August 2021<br>124,928<br>243,662<br>**Carrying amount**<br>At 31 August 2021<br>73,124<br>14,031<br>At 31 August 2020<br>97,881<br>32,317<br>**6**<br>**Debtors**<br>**2021**<br>**Amounts falling due within one year:**<br>**£**<br>Trade debtors<br>9,019<br>Other debtors<br>16,240<br>25,259|**2020**<br>**£**<br>579<br>**Total**<br>**£**<br>455,745<br>325,547<br>43,043<br>368,590<br>87,155<br>130,198<br>**2020**<br>**£**<br>7,356<br>5,146<br>12,502|
|---|---|



Page 13 



## St Margaret's Enterprises Limited 

## Notes to the Financial Statements (Continued) 

For the year ended 31 August 2021 

## **7 Creditors: amounts falling due within one year** 

|Trade creditors<br>Amounts owed to group undertakings<br>Taxation and social security<br>Other creditors<br>**8**<br>**Creditors: amounts falling due after more than one year**<br>Amounts owed to group undertakings|**2021**<br>**£**<br>2,472<br>248,727<br>14,684<br>22,770<br>288,653<br>**2021**<br>**£**<br>43,817|**2020**<br>**£**<br>1,237<br>183,156<br>24,554<br>50,424<br>259,371<br>**2020**<br>**£**<br>45,499|
|---|---|---|



Amounts due to group undertakings includes loans totalling £109,422 from December 2019 and April 2021, repayable in 12 equal quarterly instalments with an interest rate of 0.25% over the Bank of England base rate. 

## **9 Called up share capital** 

|**Called up share capital**|||||
|---|---|---|---|---|
||**2021**|**2020**|**2021**|**2020**|
|**Ordinary share capital**|**Number**|**Number**|**£**|**£**|
|**Issued and fully paid**|||||
|Ordinary shares of £1 each|-|-|1|1|



## **10 Events after the reporting date** 

Following the year end the directors have made the decision to cease trading within St Margret’s Enterprises Limited and the company will become dormant. The trading activities will be carried on and transferred to its parent undertaking St Margret’s School, Bushey. 

## **11 Parent company** 

The ultimate parent company and controlling party is St. Margaret's School, Bushey a company registered in England and Wales. 

Page 14