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Registered number: 11716338









OXFORD EDUCATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
OXFORD EDUCATION LIMITED
REGISTERED NUMBER: 11716338

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
31 January
2023
2023
Note
£
£

Fixed assets
  

Investment property
 5 
4,043,987
4,043,987

  
4,043,987
4,043,987

Current assets
  

Debtors
 6 
441,894
284,352

  
441,894
284,352

Creditors: amounts falling due within one year
 7 
(4,267,092)
(4,194,781)

Net current liabilities
  
 
 
(3,825,198)
 
 
(3,910,429)

  

Net assets
  
218,789
133,558


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
218,788
133,557

  
218,789
133,558

Page 1

 
OXFORD EDUCATION LIMITED
REGISTERED NUMBER: 11716338
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

Chaiyakorn Yingsaeree
Director

Date: 30 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Oxford Education Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England. The address of the Company's registered office is 5th Floor, 4 Moorgate, London, England, EC2R 6DA.

2.Accounting policies

  
2.1

Summary of significant accounting policies

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

 
2.2

Basis of preparation of financial statements

The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the UK Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

Page 3

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.4

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the Company's financial statements, the directors have reviewed the principal and emerging risks of the Company, access to funding and liquidity position and financial performance up to the date these financial statements were approved and expected financial performance over the 18 months following the balance sheet date.
Based on their assessment, the directors are of the conclusion that the Company will have, available at its disposal, adequate resources to continue in operational existence for the foreseeable future. While there will always remain an inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

  
2.5

Comparatives

Comparative figures are for the 13 month period ending 31 January 2023.

  
2.6

Change in financial reporting period end date

The financial reporting period end date has been changed from 31 January to 31 December and so the current and prior period figures shown within the financial statements are not entirely comparable.
The financial reporting period end date was changed for management reporting purposes.

 
2.7

Revenue

Turnover comprises rental income recognised in the period to which it relates on an accruals basis and measured at the fair value of consideration receivable.

 
2.8

Taxation

Taxation comprises of income and/or corporate taxation ("current taxation") and deferred taxation recognised solely in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date where taxable income is generated by the Company through its business operations.
The Company is subject to taxation at the rate enacted by HM Revenue & Customs in respect of property investment activities undertaken in the United Kingdom. All such liabilities in respect of UK current taxation payable are provided for as soon as there is a reasonable certainty that a liability will crystallise. The Company did not undertake any other activities in any other country.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled. 
 
Page 4

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Taxation (continued)

Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.

 
2.9

Investment property

Investment property comprises of property held by the Company to earn income or for capital appreciation, or both.
Investment property is initially recognised at purchase cost plus directly attributable acquisition expenses and subsequently measured at fair value.
Investment properties are not depreciated
Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise. 
Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred.
An investment property is derecognised for accounting purposes upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value) is recognised in profit or loss in the period the asset is derecognised.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the underlying obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined in notes 2.11 to 2.13 of the financial statements.

 
2.11

Debtors

Debtors are initially measured at transaction price (i.e. fair value) and subsequently held, at transaction price less provision for impairment.

Page 5

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Creditors

Creditors are initially measured and subsequently held at transaction price.
Other loans, comprising of shareholder loans, are non-interest bearing and repayable upon the Company holding cash reserves in excess of its working capital requirements; the date of which is currently indeterminable. For this reason, said loans are initially measured and subsequently held at transaction price and as falling due within one year.

 
2.13

Equity

Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The judgments, estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below:
Investment properties
The fair value of investment properties is determined annually by the directors on an open market value basis by reference to specific advice from third party experts and available market evidence. From time to time, the directors may employ independent professional valuers to determine the fair value on their behalf.
In determining the fair value, the application, and therefore significant judgment, of unobservable inputs as well as a number of estimates and assumptions is required.
Key estimates and assumptions considered on valuation of investment property include market evidence on comparable transactions for similar properties, current market and investor expectations, occupancy rates, rental yields, the nature, location, condition and permissible uses of the specific investment property and consideration of hypothetical sellers and buyers, who are reasonably informed and motivated, but not compelled, to transact on an arm’s length basis.

Page 6

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Employees

The average monthly number of employees, including directors, during the period was 0 (2023 - 0).
In accordance with UK legislation, office holders (i.e. registered company directors or secretaries) of the Company are not employees of the Company on the grounds that they are not party to a contract with the Company that meets the criteria for status of an employee.


5.


Investment property





Freehold investment property

£



Valuation


At 1 February 2023
4,043,987



At 31 December 2023
4,043,987

The 2023 valuations were made by the directors.

Based on the valuation exercise performed, the directors are of the opinion that the movement in fair value as at 31 December 2023 from that as at 1 February 2023 is immaterial and does not warrant an adjustment for re-valuation to be recognised as at the balance sheet date.





6.


Debtors

31 December
31 January
2023
2023
£
£

Falling due within one year

Trade debtors
398,184
246,345

Other debtors
33,570
156

Prepayments and accrued income
10,140
37,851

441,894
284,352


Trade and other debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value not materially different to their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil.

Page 7

 
OXFORD EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

31 December
31 January
2023
2023
£
£

Loans payable
4,160,437
4,118,237

Corporation tax
26,885
31,416

Accruals and deferred income
79,770
45,128

4,267,092
4,194,781


Loans payable are unsecured, non-interest bearing and repayable on demand with no fixed date of repayment.


8.


Financial instruments

The Company held no financial instruments that would require specific disclosure under Financial Reporting Standard 102 or paragraph 36 of Schedule 1 to the Companies Act 2006.


9.


Related party transactions

Group undertakings
The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
Other related parties
There were no other related party transactions and/or period end balances to report in accordance with the Financial Reporting Standard 102 or the UK Companies Act 2006 as part of these financial statements.


10.


Controlling party

The Company's immediate parent undertaking is Cyanstone One IC, an private incorporated cell established under the Companies (Jersey) Law 1991 which holds a 100% interest in the total voting rights of the Company.
Cyanstone One IC is the parent undertaking of the smallest group to consolidate these financial statements and whose registered office is located at Whiteley Chamber, Don Street, St Helier, JE2 4TR, Jersey.

 
Page 8