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Registration number: 03578921

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

for
 

Owl Education (Management) Limited

 

Owl Education (Management) Limited

Contents of the Financial Statements
for the Year Ended 31 March 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Owl Education (Management) Limited

Company Information
for the Year Ended 31 March 2023

Director:

Ms R Verma

Company secretary:

A Moghanchi

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

03578921

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Owl Education (Management) Limited

(Registration number: 03578921)
Balance Sheet as at 31 March 2023

Note

31.03.23

31.03.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

3,770,486

 

3,776,352

Investment property

5

 

2,052,000

 

2,052,000

   

5,822,486

 

5,828,352

CURRENT ASSETS

   

 

Debtors

6

107,280

 

31,240

 

Cash at bank and in hand

 

394

 

24

 

 

107,674

 

31,264

 

CREDITORS

   

 

Creditors within 1yr

7

265,222

 

230,583

 

Net current liabilities

   

(157,548)

 

(199,319)

Total assets less current liabilities

   

5,664,938

 

5,629,033

Creditors
Amounts falling due after more than one year

7

 

912,041

 

940,154

PROVISIONS FOR LIABILITIES

 

(820,805)

 

(823,175)

Net assets

   

3,932,092

 

3,865,704

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Property reserve

 

3,884,687

 

3,884,687

Profit and loss account

 

47,305

 

(19,083)

Shareholders' funds

   

3,932,092

 

3,865,704

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

 

Owl Education (Management) Limited

(Registration number: 03578921)
Balance Sheet as at 31 March 2023 (continued)

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.

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 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 1 March 2024
 

.........................................
Ms R Verma
Director

 

Owl Education (Management) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 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:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 1 March 2024.

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.

The presentational currency is Pound Sterling (£).

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.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Owl Education (Management) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)


Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.

Depreciation

Freehold land and buildings are not depreciated as in the opinion of the director the lives of the assets and their
residual values are such that the depreciation is insignificant

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

Fixtures and fittings

20% straight line basis

Computer equiptment

33% straight line basis

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 8).

 

Owl Education (Management) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

4.

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

3,765,675

72,680

31,110

3,869,465

Additions

-

-

(30,572)

(30,572)

At 31 March 2023

3,765,675

72,680

538

3,838,893

Depreciation

At 1 April 2022

-

68,407

-

68,407

At 31 March 2023

-

68,407

-

68,407

Carrying amount

At 31 March 2023

3,765,675

4,273

538

3,770,486

At 31 March 2022

3,765,675

8,898

1,779

3,776,352

Included within the net book value of land and buildings above is £3,765,675 (2022 - £3,765,675) in respect of freehold land and buildings.
 

The property was valued at the year end on an open market basis by the director.

5.

Investment properties

31.03.23
£

At 1 April

2,052,000

At 31 March

2,052,000

The property was valued at the year end on an open market basis by the director.

 

Owl Education (Management) Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

6.

Debtors

Current

31.03.23
£

31.03.22
£

Trade debtors

-

1,000

Prepayments

5,525

7,308

Other debtors

101,755

22,932

 

107,280

31,240

7.

Creditors

Creditors: amounts falling due within one year

Note

31.03.23
£

31.03.22
£

Due within one year

 

Loans and borrowings

125,261

98,336

Trade creditors

 

4,744

19,240

Taxation and social security

 

37,968

30,806

Accruals and deferred income

 

11,760

5,880

Other creditors

 

85,489

76,321

 

265,222

230,583

Creditors: amounts falling due after more than one year

Note

31.03.23
£

31.03.22
£

Due after one year

 

Loans and borrowings

912,041

940,154