OXFORD OPEN LEARNING TRUST LTD

Company limited by guarantee

Company Registration Number:
06033020 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

OXFORD OPEN LEARNING TRUST LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

OXFORD OPEN LEARNING TRUST LTD

Directors' report period ended 31 December 2023

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

Principal activities of the company

The principal activity of the company during the financial year was the provision of distance-learning self-study courses.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

Christopher Nicholas Smith


The director shown below has held office during the period of
1 January 2023 to 9 November 2023

Jonathan Ward Smith


The director shown below has held office during the period of
1 January 2023 to 15 June 2023

Amanda Jane Smith


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 September 2024

And signed on behalf of the board by:
Name: Christopher Nicholas Smith
Status: Director

OXFORD OPEN LEARNING TRUST LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,128 2,456
Total fixed assets: 1,128 2,456
Current assets
Debtors: 4 249,108 270,930
Cash at bank and in hand: 78,635 184,897
Total current assets: 327,743 455,827
Creditors: amounts falling due within one year: 5 ( 632,374 ) ( 597,438 )
Net current assets (liabilities): (304,631) (141,611)
Total assets less current liabilities: (303,503) ( 139,155)
Total net assets (liabilities): (303,503) (139,155)
Members' funds
Profit and loss account: (303,503) ( 139,155)
Total members' funds: ( 303,503) (139,155)

The notes form part of these financial statements

OXFORD OPEN LEARNING TRUST LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 20 September 2024
and signed on behalf of the board by:

Name: Christopher Nicholas Smith
Status: Director

The notes form part of these financial statements

OXFORD OPEN LEARNING TRUST LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The Trust retails distance-learning self-study courses with tutor support for the duration of each student's study programme. One half of all fees payable is treated as payment for ongoing tuition until the expected end date of each course. This amount is held as deferred income over the expected duration of the course under the accrual method as permitted by Financial Reporting Standard 102. The remaining half of the fees payable by each student is treated as income in the period in which the student commences a course.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Fixtures and Fittings 20% - 10% Straight Line Computer Equipment 33% Straight Line

    Other accounting policies

    Cost of Sales During the year the Trust purchased teaching materials amounting to £186,739 (£169,533 during the year to 31 December 2021) from a partnership to which the directors were a party. These transactions were carried out on normal arm's-length terms. Website cost Planning and operating costs for the company's website are charged to the income statement as incurred

OXFORD OPEN LEARNING TRUST LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 12 13

    1 Director to whom retirement benefits accrued via defined contribution plans.

OXFORD OPEN LEARNING TRUST LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 16,888 67,990 84,878
Additions 270 270
Disposals
Revaluations
Transfers
At 31 December 2023 16,888 68,260 85,148
Depreciation
At 1 January 2023 16,888 65,534 82,422
Charge for year 1,598 1,598
On disposals
Other adjustments
At 31 December 2023 16,888 67,132 84,020
Net book value
At 31 December 2023 0 1,128 1,128
At 31 December 2022 0 2,456 2,456

OXFORD OPEN LEARNING TRUST LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 249,108 270,930
Total 249,108 270,930

OXFORD OPEN LEARNING TRUST LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 178,545 88,246
Taxation and social security 9,381 10,487
Accruals and deferred income 444,448 498,705
Total 632,374 597,438