Registered number
07786312
Oakley House Childrens Home Ltd
Filleted Accounts
31 July 2023
Oakley House Childrens Home Ltd
Registered number: 07786312
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,405 39,207
Current assets
Debtors 4 611,893 298,307
Cash at bank and in hand 16,294 281,064
628,187 579,371
Creditors: amounts falling due within one year 5 (193,693) (195,931)
Net current assets 434,494 383,440
Total assets less current liabilities 463,899 422,647
Provisions for liabilities (4,675) (4,675)
Net assets 459,224 417,972
Capital and reserves
Called up share capital 100 100
Profit and loss account 459,124 417,872
Shareholders' funds 459,224 417,972
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Hasmat-Ali
Director
Approved by the board on 16 April 2024
Oakley House Childrens Home Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% RB
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 14
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 90,387
At 31 July 2023 90,387
Depreciation
At 1 August 2022 51,180
Charge for the year 9,802
At 31 July 2023 60,982
Net book value
At 31 July 2023 29,405
At 31 July 2022 39,207
4 Debtors 2023 2022
£ £
Trade debtors 60,118 40,610
Other debtors 551,775 257,697
611,893 298,307
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 14,607 47,406
Other creditors 179,086 148,525
193,693 195,931
6 Controlling party
The company was under the control of it's parent Family First Fostering Ltd up until 23 February 2023. The company is now controlled by it's director, Geeta Hasmat-Ali by virtue of her shareholding.
7 Other information
Oakley House Childrens Home Ltd is a private company limited by shares and incorporated in England. Its registered office is:
413 High Street
Stratford
London
E15 4QZ
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