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REGISTERED NUMBER: 00839098












Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Oakhill College (Whalley) Limited

Oakhill College (Whalley) Limited (Registered number: 00839098)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakhill College (Whalley) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: J Whowell
A J Baron
L Baron





REGISTERED OFFICE: Oakhill College
Wiswell Lane
Whalley
Lancashire
BB7 9AF





REGISTERED NUMBER: 00839098





ACCOUNTANTS: Egan Roberts Limited
Accountants
Suite 46
Manor Court
Salesbury Hall Road
Ribchester
Lancashire
PR3 3XR

Oakhill College (Whalley) Limited (Registered number: 00839098)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 155,448 194,644
155,448 194,644

CURRENT ASSETS
Debtors 6 824,800 486,569
Cash at bank and in hand 13,411 201,577
838,211 688,146
CREDITORS
Amounts falling due within one year 7 792,631 732,464
NET CURRENT ASSETS/(LIABILITIES) 45,580 (44,318 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,028

150,326

CREDITORS
Amounts falling due after more than one
year

8

106,405

127,462
NET ASSETS 94,623 22,864

CAPITAL AND RESERVES
Called up share capital 14,150 14,150
Retained earnings 80,473 8,714
SHAREHOLDERS' FUNDS 94,623 22,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Oakhill College (Whalley) Limited (Registered number: 00839098)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





A J Baron - Director


Oakhill College (Whalley) Limited (Registered number: 00839098)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Oakhill College (Whalley) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises fees receivable and charges for services and use of the school premises.

Other income such as grants and donations are accounted for when entitlement arises and the amount can be reliably quantified.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10 - 33% on cost
Motor vehicles - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Oakhill College (Whalley) Limited (Registered number: 00839098)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company participates in a defined benefit pension scheme for teaching staff. The scheme is operated by the Teachers' Pension Agency, an Executive Agency of the Department for Education and Employment. The scheme is a multi-employer scheme. It is not possible to identify the School's share of the underlying assets and liabilities on a consistent and reasonable basis and therefore, as required by FRS102, the scheme has been accounted for as a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The directors have prepared and reviewed financial forecasts based on expected pupil numbers and are satisfied that the company and the school can continue to operate for the foreseeable future. In addition the loan from Mr A J Baron is confirmed as not repayable for a period of at least twelve months from the date of these accounts.The directors are therefore satisfied that going concern is the appropriate basis for the preparation of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2022 - 91 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 225,541
AMORTISATION
At 1 September 2022
and 31 August 2023 225,541
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Oakhill College (Whalley) Limited (Registered number: 00839098)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2022 587,510 453 587,963
Additions 12,880 - 12,880
Disposals (12,672 ) - (12,672 )
At 31 August 2023 587,718 453 588,171
DEPRECIATION
At 1 September 2022 392,866 453 393,319
Charge for year 44,684 - 44,684
Eliminated on disposal (5,280 ) - (5,280 )
At 31 August 2023 432,270 453 432,723
NET BOOK VALUE
At 31 August 2023 155,448 - 155,448
At 31 August 2022 194,644 - 194,644


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,666 15,622
Amounts owed by group undertakings 714,828 382,401
Other debtors 18,546 18,546
Deferred tax asset
Land and buildings 13,010 13,010
Prepayments & accrued income 69,750 56,990
824,800 486,569

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,741 23,141
Amounts owed to group undertakings 56,023 56,023
Social security and other taxes 61,621 53,251
Other creditors 87,754 86,578
Fees in advance 558,486 503,288
Accrued expenses 8,006 10,183
792,631 732,464

Oakhill College (Whalley) Limited (Registered number: 00839098)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,741 23,141
Bank loans - 2-5 years 17,618 33,559
Directors loans 68,046 70,762
106,405 127,462

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 59,100 79,841

The bank holds a limited guarantee from Mr A J Baron for £100,000 dated 29 September 1998 and a limited guarantee from Oakhill Investments (UK) Ltd for £150,000 dated 03 February 2009.

There is a Cross Guarantee and Debenture between Oakhill College (Whalley) Ltd, Oakhill Investments (UK) Limited, Withy Trees Ltd dated 05 July 2012.

10. RELATED PARTY DISCLOSURES

At 31 August 2023 Oakhill College (Whalley) Limited owed Oakhill Investments (UK) Limited £56,023. At 31 August 2022, Oakhill College (Whalley) Limited owed Oakhill Investments (UK) Limited £56,023.

At 31 August 2023 there were balances owing to Oakhill College (Whalley) Limited of £380,297 (2022: £308,141) from Oakhill Leisure (Withy Trees Limited) and £334,531 (2021 £74,260) from Precious Ideals Limited. Both companies are controlled by Mr A Baron.

Operating lease payments of £24,430 were paid to Oakhill Leisure (Withy Trees Limited) in the year and have been recognised as an expense.

There were expenses recharged from Oakhill Leisure (Withy Trees Limited) of £65,384 during the year. There were expense charges to Oakhill Leisure (Withy Trees Limited) of £9,890 during the year.

Director L Baron's children attend the school at reduced fees.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr A Baron, who controls Oakhill Investments (UK) Limited, the company which owns the majority of the equity share capital.