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REGISTERED NUMBER: 11460927 (England and Wales)










Rotherham Opportunities College Limited

Unaudited Financial Statements

for the Year Ended 31 August 2023






Rotherham Opportunities College Limited (Registered number: 11460927)






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


Rotherham Opportunities College Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Anthony Newbury Milton-Scott
Adam Leathwood





REGISTERED OFFICE: MyPlace
St Ann's Road
Rotherham
South Yorkshire
S65 1PH





REGISTERED NUMBER: 11460927 (England and Wales)





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

Rotherham Opportunities College Limited (Registered number: 11460927)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 54,932 49,979

CURRENT ASSETS
Debtors 5 37,340 83,830
Cash at bank 85,961 352,353
123,301 436,183
CREDITORS
Amounts falling due within one year 6 (305,592 ) (283,244 )
NET CURRENT (LIABILITIES)/ASSETS (182,291 ) 152,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

(127,359

)

202,918

RESERVES
Income and expenditure account (127,359 ) 202,918
(127,359 ) 202,918

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 surplus or deficit 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.

Rotherham Opportunities College Limited (Registered number: 11460927)

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 21 August 2024 and were signed on its behalf by:




Adam Leathwood - Director



Anthony Newbury Milton-Scott - Director


Rotherham Opportunities College Limited (Registered number: 11460927)

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

1. STATUTORY INFORMATION

Rotherham Opportunities College Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Rotherham Opportunities College Limited (Registered number: 11460927)

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

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

GOING CONCERN
The company's Financial Statements show net losses of £330,277 mainly because of increase in staff costs which was considered as one of major expenditure. As a result, the company's liabilities exceeded its assets as at the year end. For the purposes of short and medium-term financial management, the directors are closely monitoring the working capital position by taking steps to reduce expenses and increase income. At the time of approving the financial statements , the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis in preparing the financial statements.

TURNOVER
Turnover represents funding received from local authority and other educational awarding bodies.

TANGIBLE FIXED ASSETS
Tangible assets are initially recorded at cost, and comprise land and buildings. These are not depreciated, but are reviewed for fair value every year.

The directors are experienced in relation to property values in the location where the properties are situated. The directors consider the properties included in the accounts are at fair value, and consequently no independent valuation is carried out.

DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class Depreciation method and rate
Fixtures & Fittings 15% on reducing balance
Computer Equipment Straight line over 3 years




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.

Rotherham Opportunities College Limited (Registered number: 11460927)

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

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

FINANCIAL INSTRUMENTS
Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - NIL ) .

Rotherham Opportunities College Limited (Registered number: 11460927)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 15,196 62,494 77,690
Additions 21,936 6,240 28,176
At 31 August 2023 37,132 68,734 105,866
DEPRECIATION
At 1 September 2022 3,126 24,585 27,711
Charge for year 4,184 19,039 23,223
At 31 August 2023 7,310 43,624 50,934
NET BOOK VALUE
At 31 August 2023 29,822 25,110 54,932
At 31 August 2022 12,070 37,909 49,979

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 37,340 83,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17,798 6,749
Taxation and social security 233,824 -
Other creditors 53,970 276,495
305,592 283,244

Included in taxation and social security, is an amount of £159,374 that relates to VAT claimed during the year which may be incorrectly claimed.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 17,735 60,651

Rotherham Opportunities College Limited (Registered number: 11460927)

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

8. CONTINGENT LIABILITIES

After the year end, it came to the notice of the directors that historically incorrect VAT may have been claimed by the company. Because of this, the company is taking specialist VAT advise in order to resolve the position. At this point of time, the directors are not in position to quantify any sum that might become due and consequently no provision has been made in the accounts.