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REGISTERED NUMBER: 03354327 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: N C Tattersall
Mrs J Young
R Meeske





SECRETARY: Ms R Craig





REGISTERED OFFICE: Summertown Pavilion
Middleway
Oxford
Oxfordshire
OX2 7LG





REGISTERED NUMBER: 03354327 (England and Wales)





AUDITORS: Galbraith Pritchards
Chartered Accountants & Statutory Auditor
20 Barns Street
Ayr
Ayrshire
KA7 1XA

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

N C Tattersall
Mrs J Young

Other changes in directors holding office are as follows:

R Meeske - appointed 22 November 2023

DIRECTORS' INDEMNITIES
The company has qualifying third party indemnity provisions for the benefit of its directors and officers.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. It is important to bear in mind that legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.



AUDITORS
The auditors, Galbraith Pritchards, will be proposed for re-appointment at the forthcoming Annual General Meeting.


OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs J Young - Director


18 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED


Opinion
We have audited the financial statements of Oxford Professional Education Group Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note thirteen to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alistair Campbell (Senior Statutory Auditor)
for and on behalf of Galbraith Pritchards
Chartered Accountants & Statutory Auditor
20 Barns Street
Ayr
Ayrshire
KA7 1XA

19 September 2024

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   

TURNOVER 5,349,044 4,266,427

Cost of sales 2,163,231 1,433,254
GROSS PROFIT 3,185,813 2,833,173

Administrative expenses 2,806,698 2,194,030
OPERATING PROFIT 4 379,115 639,143

Interest receivable and similar income 6,750 -
PROFIT BEFORE TAXATION 385,865 639,143

Tax on profit 5 91,090 120,418
PROFIT FOR THE FINANCIAL YEAR 294,775 518,725

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   

PROFIT FOR THE YEAR 294,775 518,725


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

294,775

518,725

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 1,485 3,349
Tangible assets 7 44,274 51,970
Investments 8 439,765 -
485,524 55,319

CURRENT ASSETS
Debtors 9 910,246 827,362
Cash at bank and in hand 1,169,265 1,433,659
2,079,511 2,261,021
CREDITORS
Amounts falling due within one year 10 841,866 886,141
NET CURRENT ASSETS 1,237,645 1,374,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,723,169

1,430,199

PROVISIONS FOR LIABILITIES 10,527 12,332
NET ASSETS 1,712,642 1,417,867

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 17,990 17,990
Retained earnings 1,694,452 1,399,677
SHAREHOLDERS' FUNDS 1,712,642 1,417,867

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs J Young - Director


OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 January 2022 200 880,952 17,990 899,142

Changes in equity
Total comprehensive income - 518,725 - 518,725
Balance at 31 December 2022 200 1,399,677 17,990 1,417,867

Changes in equity
Total comprehensive income - 294,775 - 294,775
Balance at 31 December 2023 200 1,694,452 17,990 1,712,642

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 309,156 613,072
Tax paid (123,238 ) (69,667 )
Net cash from operating activities 185,918 543,405

Cash flows from investing activities
Purchase of tangible fixed assets (17,297 ) (13,868 )
Purchase of fixed asset investments (439,765 ) -
Interest received 6,750 -
Net cash from investing activities (450,312 ) (13,868 )

(Decrease)/increase in cash and cash equivalents (264,394 ) 529,537
Cash and cash equivalents at beginning of
year

2

1,433,659

904,122

Cash and cash equivalents at end of year 2 1,169,265 1,433,659

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31/12/23 31/12/22
£    £   
Profit before taxation 385,865 639,143
Depreciation charges 26,857 28,087
Finance income (6,750 ) -
405,972 667,230
Increase in trade and other debtors (82,884 ) (413,412 )
(Decrease)/increase in trade and other creditors (13,932 ) 359,254
Cash generated from operations 309,156 613,072

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 1,169,265 1,433,659
Year ended 31 December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 1,433,659 904,122


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank and in hand 1,433,659 (264,394 ) 1,169,265
1,433,659 (264,394 ) 1,169,265
Total 1,433,659 (264,394 ) 1,169,265

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Oxford Professional Education Group Limited is a private company, limited by shares , registered in England and Wales. 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.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

TURNOVER
Turnover represents net invoiced sales of services, excluding value added tax.

Income from students is recognised over the duration of the course.

INTANGIBLE ASSETS -PATENTS
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives which is the licence period of 10 years.

INTANGIBLE ASSETS -WEBSITE DEVELOPMENT COSTS
Website development costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives which is considered to be a period of 5 years in line with technological advances.

INTANGIBLE ASSETS -RESEARCH AND DEVELOPMENT
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In their situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on cost and 25% on reducing balance

FINANCIAL INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 25 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31/12/23 31/12/22
£    £   
Depreciation - owned assets 24,993 25,728
Patents and licences amortisation 380 875
Development costs amortisation 1,484 1,484
Auditors' remuneration 5,000 5,000
Pension costs 53,296 43,251

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/12/23 31/12/22
£    £   
Current tax:
UK corporation tax 92,895 123,238

Deferred tax (1,805 ) (2,820 )
Tax on profit 91,090 120,418

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Websites Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 8,749 23,670 20,683 53,102
AMORTISATION
At 1 January 2023 8,369 20,702 20,682 49,753
Amortisation for year 380 1,484 - 1,864
At 31 December 2023 8,749 22,186 20,682 51,617
NET BOOK VALUE
At 31 December 2023 - 1,484 1 1,485
At 31 December 2022 380 2,968 1 3,349

7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 8,330 18,704 117,399 144,433
Additions - - 17,297 17,297
At 31 December 2023 8,330 18,704 134,696 161,730
DEPRECIATION
At 1 January 2023 7,507 6,909 78,047 92,463
Charge for year 165 1,179 23,649 24,993
At 31 December 2023 7,672 8,088 101,696 117,456
NET BOOK VALUE
At 31 December 2023 658 10,616 33,000 44,274
At 31 December 2022 823 11,795 39,352 51,970

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 439,765
At 31 December 2023 439,765
NET BOOK VALUE
At 31 December 2023 439,765

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 433,289 448,992
Other debtors 476,957 378,370
910,246 827,362

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 50,031 105,733
Tax 92,895 123,238
Social security and other taxes 55,455 90,739
VAT 69,988 92,441
Other creditors 77,116 53,285
Deferred income 392,830 385,000
Accrued expenses 103,551 35,705
841,866 886,141

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 26,469 28,875
Between one and five years - 26,469
26,469 55,344

OXFORD PROFESSIONAL EDUCATION GROUP
LIMITED (REGISTERED NUMBER: 03354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. RELATED PARTY DISCLOSURES

Entities with common directors

31/12/23 31/12/22
£    £   
Amounts due from related parties 355,538 283,850


13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14. ULTIMATE CONTROLLING PARTY

The controlling party is N C Tattersall.