Use of our report<\/strong><\/p>\n\n\n\nThis 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.<\/p>\n\n\n\n\n\n
Mark Bishop FCA
<\/strong>Senior Statutory Auditor
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
Oxford
26 November 2019<\/p>\n\n\n\nStatement of Income and Retained Earnings for the Year Ended 31 July 2019<\/h3>\n\n\n\n| <\/td> | Note:<\/td> | 2019 \u00a3 <\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>Trading Income<\/strong><\/td>| <\/td> | 77,802<\/td> | –<\/td><\/tr> | Net Operating Expenses<\/strong><\/td>| 2<\/td> | (44,687)<\/td> | (1,070)<\/td><\/tr> | Operating Profit \/ (loss)<\/strong><\/td>| <\/td> | 33,115<\/td> | (1,070)<\/td><\/tr> | Interest receivable and similar income<\/strong><\/td>| <\/td> | –<\/td> | –<\/td><\/tr> | Profit \/ (loss) on ordinary activities before taxation<\/strong><\/td>| <\/td> | 33,115<\/td> | (1070)<\/td><\/tr> | Taxation on ordinary activities<\/strong><\/td>| 3<\/td> | –<\/td> | –<\/td><\/tr> | Profit \/ (loss) on ordinary activities after taxation<\/strong><\/td>| <\/td> | 33,115<\/td> | (1,070)<\/td><\/tr> | Total unrestricted comprehensive income for the year<\/strong><\/td>| <\/td> | 33,115<\/td> | (1,070)<\/td><\/tr> | Income and expenditure reserve – unrestricted at 1 August 2018<\/strong><\/td>| <\/td> | (166,272)<\/td> | (165,202)<\/td><\/tr> | Income and expenditure reserve – unrestricted at 31 July 2019<\/strong><\/td>| <\/td> | (133,157)<\/td> | (166,272)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n All items of income and expenditure relate to continuing activities.
There were no other recognised gains or losses other than the profit for the year.<\/p>\n\n\n\n Statement of Financial Position as at 31 July 2019<\/h3>\n\n\n\n| <\/td> | Note:<\/td> | 2019 \u00a3<\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>Current Assets<\/strong><\/td>| <\/td> | <\/td> | <\/td><\/tr> | | Cash at bank and in hand<\/td> | <\/td> | 157,257<\/td> | –<\/td><\/tr> | | Debtors<\/td> | 7<\/td> | 18,619<\/td> | 13,376<\/td><\/tr> | | <\/td> | <\/td> | 175,876<\/td> | 13,376<\/td><\/tr> | | <\/td> | <\/td> | <\/td> | <\/td><\/tr> | Creditors: amounts falling due within one year<\/strong><\/td>| 8<\/td> | (308,933)<\/td> | (179,548)<\/td><\/tr> | | <\/td> | <\/td> | <\/td> | <\/td><\/tr> | Net Current liabilities<\/strong><\/td>| <\/td> | (308,933)<\/td> | (179,548)<\/td><\/tr> | | <\/td> | <\/td> | <\/td> | <\/td><\/tr> | Total net liabilities<\/strong><\/td>| <\/td> | (133,057)<\/td> | (166,172)<\/td><\/tr> | | <\/td> | <\/td> | <\/td> | <\/td><\/tr> | Capital reserves<\/strong><\/td>| <\/td> | <\/td> | <\/td><\/tr> | | Allotted share capital<\/td> | 9<\/td> | 100<\/td> | 100<\/td><\/tr> | | Income and expenditure reserve – unrestricted<\/td> | <\/td> | (133,157)<\/td> | (166,272)<\/td><\/tr> | Equity shareholders’ deficit<\/strong><\/td>| <\/td> | (133,057)<\/td> | (166,172)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n The financial statements were approved by the directors and signed on their behalf on 12th November 2019 by:<\/p>\n\n\n\n\n\n F C Stallard (Director)<\/p>\n\n\n\n Notes to the Financial Statements for the Year Ended 31 July 2019<\/h3>\n\n\n\n- Accounting policies
<\/strong>
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland” (“FRS 102”) 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.
Turnover<\/strong>
<\/strong>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.
Cash flow<\/strong>
As a wholly-owned subsidiary of the University of Gloucestershire which publishes a cash flow statement, the company is not required to produce a cash flow statement as prescribed in paragraph 8(c) of the Financial Reporting Standard 1, “Cash Flow Statements”.
Going concern<\/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.
Financial Instruments<\/strong>
Basic Financial instruments are measured at amortised cost. The company has no other financial instruments or basic financial instruments meas\u00b5red at fair value. Cash and cash equivalents include cash at banks and short term deposits, deposits are repayable on demand.
<\/li>- Net operating expenses<\/strong><\/li><\/ol>\n\n\n\n
| Administrative costs<\/td> | 2019 \u00a3<\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>| <\/td> | 44,687<\/td> | 1,070<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n 3. Taxation<\/strong><\/p>\n\n\n\nThe corporation tax charge for the period was \u00a3Nil (2018: \u00a3Nil). The profits for the year were offset by tax losses brought forward.<\/p>\n\n\n\n 4. Directors emoluments<\/strong><\/p>\n\n\n\nThe 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 5. Employee information<\/strong><\/p>\n\n\n\nThere were no employees of the company through the year (2018: Nil)<\/p>\n\n\n\n 6. Loss on ordinary activities before taxation<\/strong><\/p>\n\n\n\n| <\/td> | 2019 \u00a3<\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>| Profit\/(loss) on ordinary activities before taxation<\/td> | 33,115<\/td> | (1070)<\/td><\/tr> | | <\/td> | <\/td> | <\/td><\/tr> | | Results include:<\/td> | <\/td> | <\/td><\/tr> | | Auditors remuneration in respect of the audit of the company<\/td> | 830<\/td> | 800<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n 7. Debtors<\/strong><\/p>\n\n\n\n| <\/td> | 2019 \u00a3<\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>| <\/td> | 16,798<\/td> | <\/td><\/tr> | | Trade debtors<\/td> | 1,822<\/td> | –<\/td><\/tr> | | Prepayments<\/td> | 18,619<\/td> | –<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n 8. Creditors : amounts failing due within one year<\/strong><\/p>\n\n\n\n| <\/td> | 2019 \u00a3<\/strong><\/td>2018 \u00a3<\/strong><\/td><\/tr>| Trade Creditors<\/td> | (11,281)<\/td> | <\/td><\/tr> | | Amounts due to parents company<\/td> | (177,694)<\/td> | 177,694<\/td><\/tr> | | Accruals and deferred income<\/td> | (119,958)<\/td> | 1,874<\/td><\/tr> | | <\/td> | (308,933)<\/td> | 179,548<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n 9. Share capital<\/strong><\/p>\n\n\n\n| <\/td> | 2019<\/strong><\/td>2018<\/strong><\/td><\/tr>Authorised
Ordinary shares of \u00a31 each<\/td> | 1,000<\/td> | 1,000<\/td><\/tr> | | <\/td> | 1,000<\/td> | 1,000<\/td><\/tr> | | <\/td> | <\/td> | <\/td><\/tr> | Allotted
Ordinary shares of \u00a31 each<\/td> | \u00a3<\/strong>
100<\/td>\u00a3<\/strong>
100<\/td><\/tr>| <\/td> | 100<\/td> | 100<\/td><\/tr> | | <\/td> | <\/td> | <\/td><\/tr> | Fully paid
Ordinary shares of \u00a31 each<\/td> | 3<\/td> | 3<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n 9. Related party transactions<\/strong><\/p>\n\n\n\nThe company has taken advantage of the exemption permitted by Financial Reporting Standard 102 section IA, available to wholly owned subsiary companies, not to disclose transactions with other group companies within these accounts.<\/p>\n\n\n\n 10. Ultimate parent company<\/strong><\/p>\n\n\n\nThe 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’s 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":" For the year ended 31 July 2019 Directors and Advisors Directors’ Report Independent Auditor’s Report to the Shareholders of Fullwood Park Limited Statement of Income and Retained Earnings Statement of Financial Position Notes to the Financial Statements Directors and Advisors for the Year Ended 31 July 2019 Directors: R K O’DohertyF C Stallard Secretary and […]<\/p>\n","protected":false},"author":43,"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-6632","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\/6632","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\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/comments?post=6632"}],"version-history":[{"count":16,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb\/6632\/revisions"}],"predecessor-version":[{"id":6697,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb\/6632\/revisions\/6697"}],"wp:attachment":[{"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/media?parent=6632"}],"wp:term":[{"taxonomy":"schools","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/schools?post=6632"},{"taxonomy":"campuses","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/campuses?post=6632"},{"taxonomy":"subject_area","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/subject_area?post=6632"},{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb-category?post=6632"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/www.glos.ac.uk\/information\/wp-json\/wp\/v2\/ht-kb-tag?post=6632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | |
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