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Registration number: 03722852

Oracle Training Consultants Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Oracle Training Consultants Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Oracle Training Consultants Limited

Company Information

Director

Miss Diane Elizabeth Logan

Registered office

65-67 Silver Street
Doncaster
South Yorkshire
DN1 1JL

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Oracle Training Consultants Limited

(Registration number: 03722852)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

761

11,415

Current assets

 

Debtors

5

143,022

159,135

Cash at bank and in hand

 

155,690

80,090

 

298,712

239,225

Creditors: Amounts falling due within one year

6

(29,503)

(20,022)

Net current assets

 

269,209

219,203

Net assets

 

269,970

230,618

Capital and reserves

 

Called up share capital

7

101

1

Retained earnings

269,869

230,617

Shareholders' funds

 

269,970

230,618

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 October 2023
 

.........................................
Miss Diane Elizabeth Logan
Director

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
65-67 Silver Street
Doncaster
South Yorkshire
DN1 1JL
England

These financial statements were authorised for issue by the director on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight Line Basis

Fixtures & Fittings

20% Straight Line Basis

Office Equipment

33% Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2022 - 11).

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2022

355,297

2,000

357,297

Additions

666

-

666

At 31 July 2023

355,963

2,000

357,963

Depreciation

At 1 August 2022

343,882

2,000

345,882

Charge for the year

11,320

-

11,320

At 31 July 2023

355,202

2,000

357,202

Carrying amount

At 31 July 2023

761

-

761

At 31 July 2022

11,415

-

11,415

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

15,967

29,087

Other debtors

 

86,574

77,312

Prepayments

 

7,803

6,542

Income tax asset

32,678

46,194

 

143,022

159,135

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13,016

11,736

Taxation and social security

6,616

5,478

Accruals and deferred income

5,091

1,740

Other creditors

4,780

1,068

29,503

20,022

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

1

1

Ordinary B of £1 (2022 - £0) each

1

1

-

-

 

101

101

1

1

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £255.68 (2022 - £21,000.00) per each Ordinary

 

25,568

 

21,000

Interim dividend of £9,816.00 (2022 - £Nil) per each Ordinary B

 

9,816

 

-

   

35,384

 

21,000

9

Related party transactions

Transactions with the director

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Miss Diane Elizabeth Logan

DLA

100,000

(13,426)

86,574

       
     

 

2022

At 1 August 2021
£

Other payments made to company by director
£

At 31 July 2022
£

Miss Diane Elizabeth Logan

DLA

100,001

(1)

100,000

       
     

 

 

Oracle Training Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

21,135

96,030