{"id":5174,"date":"2021-02-13T13:30:11","date_gmt":"2021-02-13T13:30:11","guid":{"rendered":"https:\/\/www.glos.ac.uk\/information\/?post_type=ht_kb&#038;p=5174"},"modified":"2021-02-13T13:40:58","modified_gmt":"2021-02-13T13:40:58","slug":"fullwood-park-limited-financial-statements-2020","status":"publish","type":"ht_kb","link":"https:\/\/www.glos.ac.uk\/information\/knowledge-base\/fullwood-park-limited-financial-statements-2020\/","title":{"rendered":"Fullwood Park Limited Financial Statements 2020"},"content":{"rendered":"\n<h2 class=\"heading wp-block-heading\">Annual Report for the Year Ended 31 July 2020\u200b<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"#directors\">Directors and Advisors<\/a>\u00a0<\/li><li><a href=\"#report\">Directors\u2019 Report\u00a0<\/a><\/li><li><a href=\"#independent\">Independent Auditor&#8217;s Report to the Shareholders of Fullwood Park Limited\u00a0<\/a><\/li><li><a href=\"#soire\">Statement of Income and Retained Earnings\u00a0<\/a><\/li><li><a href=\"#sofp\">Statement of Financial Position\u00a0<\/a><\/li><li><a href=\"#notes\">Notes to the Financial Statements\u200b<\/a><\/li><\/ul>\n\n\n\n<h3 class=\"heading wp-block-heading\" id=\"directors\">Directors and Advisors for the Year Ended 31 July 2020\u00a0<\/h3>\n\n\n\n<p class=\"\"><strong>Directors<\/strong><br>R K O&#8217;Doherty (resigned 31 October 2020)<br>F C Stallard<\/p>\n\n\n\n<p class=\"\"><strong>Secretary and Registered Office<br><\/strong>A Benson<br>Fullwood House<br>Park Campus<br>The Park<br>Cheltenham<br>Gloucestershire<br>GL50 2RH<\/p>\n\n\n\n<p class=\"\"><strong>Registered Auditor<br><\/strong>Grant Thornton UK LLP<br>Seacourt Tower<br>Botley<br>Oxford<br>Oxfordshire<br>OX2 0JJ<\/p>\n\n\n\n<p class=\"\"><strong>Solicitor<\/strong><br>Pinsent Masons LLP<br>55 Colmore Row<br>Birmingham<br>B3 2FG<\/p>\n\n\n\n<p class=\"\"><strong>Bankers<\/strong><br>The Royal Bank of Scotland plc<br>P O Box 9<br>31 The Promenade<br>Cheltenham<br>Gloucestershire<br>GL50 1LH<\/p>\n\n\n\n<p class=\"\">HSBC Bank PLC<br>P O Box 120<br>49 Corn Street<br>Bristol<br>BS99 7PP<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\" id=\"report\">Directors\u2019 Report for the Year Ended 31 July 2020<\/h3>\n\n\n\n<p class=\"\">The directors present their report and the audited financial statements for the year ended 31 July 2020.<\/p>\n\n\n\n<p class=\"\"><strong>Principal activities<br><\/strong>The principal activities of the company are the provision of conference and catering services and property development. The activities are mainly centred in the higher education sector and take place in the United Kingdom.<\/p>\n\n\n\n<p class=\"\"><strong>Review of business<br><\/strong>Despite all commercial bookings being cancelled since Easter 2020 due to COVID-19, the directors are pleased to report that the company produced a pre-tax profit for the year amounting to \u00a333,458 (2019: \u00a333,115). In the prior year the conferencing activities were reinstated generating pre-tax profits of 43% of income last year and 26% this year.<br>The directors note the impact COVID-19 may have on the business during 2020\/21 and are pleased to have the continued support of the parent company.<\/p>\n\n\n\n<p class=\"\"><strong>Charitable donations<br><\/strong>It is usual practice for the company to gift aid the lower of its accounting and taxable profits (after transfers to reserves) to the University of Gloucestershire, of which the company is a wholly owned subsidiary. For the year ended 31 July 2020, a gift aid donation of \u00a3nil (2019: \u00a3nil) was made to the University of Gloucestershire given that the company had negative distributable reserves.<\/p>\n\n\n\n<p class=\"\"><strong>Dividends and transfers to reserves<br><\/strong>The directors do not recommend the payment of a dividend (2019: \u00a3Nil).<\/p>\n\n\n\n<p class=\"\"><strong>Directors<\/strong><br>The directors of the company who served during the year and up to the date of this report were:<\/p>\n\n\n\n<p class=\"\">R K O&#8217;Doherty (resigned 31 October 2020)<br>F C Stallard<\/p>\n\n\n\n<p class=\"\">Statement of directors\u2019 responsibilities for the financial statements<br>The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.<br>Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 &#8220;The Financial Reporting Standard applicable in the UK and Republic of Ireland&#8221;. The financial statements are required by law to 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:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>select suitable accounting policies and then apply them consistently<\/li><li>make judgements and estimates that are reasonable and prudent<\/li><li>state whether applicable United Kingdom Accounting Standards, including FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements<\/li><li>prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.<\/li><\/ul>\n\n\n\n<p class=\"\">The directors are responsible for keeping adequate accounting records that 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. The directors confirm that:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>there is no relevant audit information of which the company&#8217;s auditors are unaware; and<\/li><li>the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.<\/li><\/ul>\n\n\n\n<p class=\"\"><strong>Employees<\/strong><br>There were no employees of the company for the year ended 31 July 2020 (2019: Nil).<\/p>\n\n\n\n<p class=\"\"><strong>Post Balance Sheet Events<br><\/strong>There were no post balance sheet events.<\/p>\n\n\n\n<p class=\"\"><strong>Taxation status<br><\/strong>The company is a close company as defined by the provisions of the Income Tax Act 2007 and Corporation Tax Act 2010 and this position has not changed since the end of the financial year.<\/p>\n\n\n\n<p class=\"\"><strong>Auditor<\/strong><br>Grant Thornton UK LLP, having expressed their willingness to continue in office, will be deemed reappointed for the next financial year in accordance with section 487(2) of the Companies Act 2006 unless the company receives notice under section 488(1) of the Companies Act 2006.<\/p>\n\n\n\n<p class=\"\"><strong>Small company provisions<br><\/strong>This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.<\/p>\n\n\n\n<p class=\"\">Approved by the directors and signed on their behalf on 23rd November 2020 by:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cmsr-web-assets.glos.ac.uk\/sites\/129\/2021\/02\/13130606\/camille-stallard-signature.jpeg\" alt=\"Camille Stallard signature\" class=\"wp-image-129000002112\" width=\"254\" height=\"50\" \/><\/figure>\n\n\n\n<p class=\"\">F C Stallard (Director)<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\" id=\"independent\">Independent auditor&#8217;s report to the members of Fullwood Park Limited<\/h3>\n\n\n\n<p class=\"\"><strong>Opinion<\/strong><br>We have audited the financial statements of Fullwood Park Limited (the \u2018company\u2019) for the year ended 31 July 2020, which comprise The Statement of Incomes and Retained Earnings, The Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 \u2018The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).<\/p>\n\n\n\n<p class=\"\">In our opinion, the financial statements:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>give a true and fair view of the state of the company\u2019s affairs as at 31 July 2020 and of its profit for the year then ended;<\/li><li>have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and<\/li><li>have been prepared in accordance with the requirements of the Companies Act 2006.<\/li><\/ul>\n\n\n\n<p class=\"\"><strong>Basis for opinion<br><\/strong>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 \u2018Auditor\u2019s responsibilities for the audit of the financial statements\u2019 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\u2019s 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.<\/p>\n\n\n\n<p class=\"\"><strong>The impact of macro-economic uncertainties on our audit<br><\/strong>Our audit of the financial statements requires us to obtain an understanding of all relevant uncertainties, including those arising as a consequence of the effects of macro-economic uncertainties such as Covid-19 and Brexit. All audits assess and challenge the reasonableness of estimates made by the directors and the related disclosures and the appropriateness of the going concern basis of preparation of the financial statements. All of these depend on assessments of the future economic environment and the company\u2019s future prospects and performance.<\/p>\n\n\n\n<p class=\"\">Covid-19 and Brexit are amongst the most significant economic events currently faced by the UK, and at the date of this report their effects are subject to unprecedented levels of uncertainty, with the full range of possible outcomes and their impacts unknown. We applied a standardised firm-wide approach in response to these uncertainties when assessing the group\u2019s future prospects and performance. However, no audit should be expected to predict the unknowable factors or all possible future implications for a company associated with these particular events.<\/p>\n\n\n\n<p class=\"\"><strong>Conclusions relating to going concern<br><\/strong>We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>the directors\u2019 use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or<\/li><li>the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company\u2019s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.<\/li><\/ul>\n\n\n\n<p class=\"\">In our evaluation of the directors\u2019 conclusions, we considered the risks associated with the company\u2019s business, including effects arising from macro-economic uncertainties such as Covid-19 and Brexit, and analysed how those risks might affect the company&#8217;s financial resources or ability to continue operations over the period of at least twelve months from the date when the financial statements are authorised for issue. In accordance with the above, we have nothing to report in these respects.<\/p>\n\n\n\n<p class=\"\">However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the absence of reference to a material uncertainty in this auditor&#8217;s report is not a guarantee that the company will continue in operation.<\/p>\n\n\n\n<p class=\"\"><strong>Other information<br><\/strong>The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor\u2019s report thereon. 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.<\/p>\n\n\n\n<p class=\"\">In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.<br>We have nothing to report in this regard.<\/p>\n\n\n\n<p class=\"\"><strong>Opinions on other matters prescribed by the Companies Act 2006<\/strong><\/p>\n\n\n\n<p class=\"\">In our opinion, based on the work undertaken in the course of the audit:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>the information given in the directors\u2019 report for the financial year for which the financial statements are prepared is consistent with the financial statements; and<\/li><li>the directors\u2019 report has been prepared in accordance with applicable legal requirements.<\/li><\/ul>\n\n\n\n<p class=\"\"><strong>Matter on which we are required to report under the Companies Act 2006<br><\/strong>In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors\u2019 report.<\/p>\n\n\n\n<p class=\"\"><strong>Matters on which we are required to report by exception<br><\/strong>We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or<\/li><li>the financial statements are not in agreement with the accounting records and returns; or<\/li><li>certain disclosures of directors\u2019 remuneration specified by law are not made; or<\/li><li>we have not received all the information and explanations we require for our audit; or<\/li><li>the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies\u2019 exemptions in preparing the directors\u2019 report and from the requirement to prepare a strategic report.<\/li><\/ul>\n\n\n\n<p class=\"\"><strong>Responsibilities of directors for the financial statements<br><\/strong>As explained more fully in the directors\u2019 responsibilities statement, 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.<\/p>\n\n\n\n<p class=\"\">In preparing the financial statements, the directors are responsible for assessing the company\u2019s 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.<\/p>\n\n\n\n<p class=\"\"><strong>Auditor\u2019s responsibilities for the audit of the financial statements<br><\/strong>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\u2019s 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.<br>A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council\u2019s website at: www.frc.org.uk\/auditorsresponsibilities. This description forms part of our auditor\u2019s report.<\/p>\n\n\n\n<p class=\"\"><strong>Use of our report<br><\/strong>This report is made solely to the company\u2019s 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\u2019s members those matters we are required to state to them in an auditor\u2019s 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\u2019s members as a body, for our audit work, for this report, or for the opinions we have formed.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cmsr-web-assets.glos.ac.uk\/sites\/129\/2021\/02\/13130603\/mark-bishop-signature.jpeg\" alt=\"Mark Bishop signature\" class=\"wp-image-129000002111\" width=\"163\" height=\"108\" \/><\/figure>\n\n\n\n<p class=\"\">Mark Bishop FCA<br>Senior Statutory Auditor<br>for and on behalf of Grant Thornton UK LLP<br>Statutory Auditor, Chartered Accountants<br>Oxford<br>Date: 25-11-2020<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\" id=\"soire\">Statement of Income and Retained Earnings for the Year Ended 31 July 2020<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th><\/th><th>2020<\/th><th>2019<\/th><\/tr><\/thead><tbody><tr><td><\/td><td>Note<\/td><td><strong>\u00a3<\/strong><\/td><td>\u00a3<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Trading income<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127,557<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77,802<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Net operating expenses<\/strong><\/td><td>2<\/td><td><strong>(94,099)<\/strong><\/td><td>(44,687)<\/td><\/tr><tr><td><\/td><td><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td><strong>Operating profit&nbsp;<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,458<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,115<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Interest receivable and similar income<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#8211;<\/strong><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#8211;<\/strong><\/td><\/tr><tr><td><\/td><td><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td><strong>Profit on ordinary activities before taxation<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,458<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,115<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Taxation on ordinary activities<\/strong><\/td><td>3<\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#8211;<\/strong><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#8211;<\/strong><\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Profit on ordinary activities after taxation&nbsp;<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,458<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,115<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Total unrestricted comprehensive income for the year<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,458<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,115<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Income and expenditure reserve &#8211; unrestricted at 1 August 2019<\/strong><\/td><td><\/td><td><strong>(133,157)<\/strong><\/td><td>(166,272)<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Income and expenditure reserve &#8211; unrestricted at 31 July 2020<\/strong><\/td><td><\/td><td><strong>(99,699)<\/strong><\/td><td>(133,157)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"\">All items of income and expenditure relate to continuing activities.<\/p>\n\n\n\n<p class=\"\">There were no other recognised gains or losses other than the profit for the year.<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\" id=\"sofp\">Statement of Financial Position as at 31 July 2020<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th><\/th><th>2020<\/th><th>2019<\/th><\/tr><\/thead><tbody><tr><td><\/td><td>Note<\/td><td><strong>\u00a3<\/strong><\/td><td>\u00a3<\/td><\/tr><tr><td><strong>Current assets<\/strong><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Cash at bank and in hand<\/strong><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44,907<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157,257<\/td><\/tr><tr><td><strong>Debtors<\/strong><\/td><td>7<\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45,696<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,619<\/td><\/tr><tr><td><\/td><td><\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90,603<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175,876<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Creditors: amounts falling due within one year<\/strong><\/td><td>8<\/td><td><strong>(190,202)<\/strong><\/td><td>(308,933)<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Net current liabilities<\/strong><\/td><td><\/td><td><strong>(190,202)<\/strong><\/td><td>(308,933)<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Total net liabilities<\/strong><\/td><td><\/td><td><strong>(99,599)<\/strong><\/td><td>(133,057)<\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Capital and reserves<\/strong><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>Allotted share capital<\/strong><\/td><td>9<\/td><td><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100<\/strong><\/td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100<\/td><\/tr><tr><td><strong>Income and expenditure reserve &#8211; unrestricted<\/strong><\/td><td><\/td><td><strong>(99,699)<\/strong><\/td><td>(133,157)<\/td><\/tr><tr><td><strong>Equity shareholders&#8217; deficit<\/strong><\/td><td><\/td><td><strong>(99,599)<\/strong><\/td><td>(133,057)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"\">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 \u2013 Small Entities.<\/p>\n\n\n\n<p class=\"\"><strong>The financial statements were approved by the directors and signed on their behalf on 23rd November 2020 by:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cmsr-web-assets.glos.ac.uk\/sites\/129\/2021\/02\/13130606\/camille-stallard-signature.jpeg\" alt=\"Camille Stallard signature\" class=\"wp-image-129000002112\" width=\"254\" height=\"50\" \/><\/figure>\n\n\n\n<p class=\"\">F C Stallard (Director)<\/p>\n\n\n\n<h2 class=\"heading wp-block-heading\" id=\"notes\">Notes to the Financial Statements for the Year Ended 31 July 2020<\/h2>\n\n\n\n<h3 class=\"heading wp-block-heading\">1. Accounting policies<\/h3>\n\n\n\n<p class=\"\">These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 &#8211; Section 1A &#8220;The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland&#8221; (&#8220;FRS 102&#8221;) and with the Companies Act 2006. The financial statements are prepared on a going concern basis, under the historical cost convention. A summary of the more important accounting policies, which have been applied consistently, is set out below.<\/p>\n\n\n\n<p class=\"\"><strong>Turnover<\/strong><br>Turnover, which excludes value added tax, represents the value of goods and services supplied. Turnover is recognised in line with the performance of the related services.<\/p>\n\n\n\n<p class=\"\"><strong>Going concern<br><\/strong>The directors have drawn up the financial statements using the going concern basis of accounting because of the continued support of the parent company to ensure that the company will continue to meet its liabilities as they fall due for payment.<\/p>\n\n\n\n<p class=\"\"><strong>Financial Instruments<br><\/strong>Basic Financial instruments are measured at amortised cost. The company has no other financial instruments or basic financial instruments measured at fair value. Cash and cash equivalents include cash at banks and short term deposits, deposits are repayable on demand.<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\">2. Net operating expenses<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Administrative costs<\/td><td>94,099<\/td><td>44,687<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"heading wp-block-heading\">3. Taxation<\/h3>\n\n\n\n<p class=\"\">The corporation tax charge for the period was \u00a3Nil (2019: \u00a3Nil). The profits for the year were offset by tax losses brought forward.<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\">4. Directors&#8217; emoluments<\/h3>\n\n\n\n<p class=\"\">The emoluments of all directors are paid by the parent undertaking. Their services to this company are of a non-executive nature and their emoluments are deemed to be wholly attributable to their services to the parent undertaking.<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\">5. Employee information<\/h3>\n\n\n\n<p class=\"\">There were no employees of the company throughout the year (2019: Nil).<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\">6. Profit on ordinary activities before taxation<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Profit on ordinary activities before taxation:<\/td><td>33,458<\/td><td>33,115<\/td><\/tr><tr><td>Results include: <br>Auditor&#8217;s renumeration in respect of the audit of the company<\/td><td>870<\/td><td>830<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"heading wp-block-heading\">7. Debtors<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Trade debtors<\/td><td>2,760<\/td><td>16,798<\/td><\/tr><tr><td>Other debtors<\/td><td>3,566<\/td><td>&#8211;<\/td><\/tr><tr><td>Prepayments and accrued income<\/td><td>39,370<\/td><td>1,822<\/td><\/tr><\/tbody><tfoot><tr><td><\/td><td>45,696<\/td><td>18,619<\/td><\/tr><\/tfoot><\/table><\/figure>\n\n\n\n<h3 class=\"heading wp-block-heading\">8. Creditors: amounts falling due within one year<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th>2020 (\u00a3)<\/th><th>2019 (restated) (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Trade creditors<\/td><td>1,932<\/td><td>11,281<\/td><\/tr><tr><td>Amounts due to parent company<\/td><td>184,426<\/td><td>204,907<\/td><\/tr><tr><td>Accruals ad deferred income<\/td><td>3,844<\/td><td>92,745<\/td><\/tr><\/tbody><tfoot><tr><td><\/td><td>190,202<\/td><td>308,933<\/td><\/tr><\/tfoot><\/table><\/figure>\n\n\n\n<h3 class=\"heading wp-block-heading\">9. Share capital<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th>Authorised<\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Ordinary shares of \u00a31 each<\/td><td>1,000<\/td><td>1,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th>Allotted<\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Ordinary shares of \u00a31 each<\/td><td>100<\/td><td>100<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th>Fully paid<\/th><th>2020 (\u00a3)<\/th><th>2019 (\u00a3)<\/th><\/tr><\/thead><tbody><tr><td>Ordinary shares of \u00a31 each<\/td><td>3<\/td><td>3<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"heading wp-block-heading\">10. Related party transactions<\/h3>\n\n\n\n<p class=\"\">The company has taken advantage of the exemption permitted by Financial Reporting Standard 102 section 1A, available to wholly owned subsidiary companies, not to disclose transactions with other group companies within these accounts.<\/p>\n\n\n\n<h3 class=\"heading wp-block-heading\">11. Ultimate parent company<\/h3>\n\n\n\n<p class=\"\">The directors regard the University of Gloucestershire as the ultimate parent company by virtue of its 100% interest in the equity share capital of the company. Copies of the parent\u2019s consolidated financial statements may be obtained from the Company Secretary, University of Gloucestershire, Park Campus, The Park, Cheltenham, Gloucestershire GL50 2RH.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Annual Report for the Year Ended 31 July 2020\u200b Directors and Advisors\u00a0 Directors\u2019 Report\u00a0 Independent Auditor&#8217;s Report to the Shareholders of Fullwood Park Limited\u00a0 Statement of Income and Retained Earnings\u00a0 Statement of Financial Position\u00a0 Notes to the Financial Statements\u200b Directors and Advisors for the Year Ended 31 July 2020\u00a0 DirectorsR K O&#8217;Doherty (resigned 31 October [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_searchwp_excluded":"","footnotes":""},"schools":[],"campuses":[],"subject_area":[],"ht-kb-category":[5],"ht-kb-tag":[],"class_list":["post-5174","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-governance-and-structure"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb\/5174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/comments?post=5174"}],"version-history":[{"count":3,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb\/5174\/revisions"}],"predecessor-version":[{"id":5177,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb\/5174\/revisions\/5177"}],"wp:attachment":[{"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/media?parent=5174"}],"wp:term":[{"taxonomy":"schools","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/schools?post=5174"},{"taxonomy":"campuses","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/campuses?post=5174"},{"taxonomy":"subject_area","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/subject_area?post=5174"},{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb-category?post=5174"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb-tag?post=5174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}