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Registered number: 13390549














OAK TREE DERBY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
OAK TREE DERBY LIMITED
 

CONTENTS



Page
Statement of financial position
 
1
Notes to the financial statements
 
2 - 7


 
OAK TREE DERBY LIMITED
REGISTERED NUMBER:13390549

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
572,196
709,313

Current assets
  

Debtors: amounts falling due within one year
 5 
3,035,695
2,584,035

Cash at bank and in hand
  
78,084
313,776

  
3,113,779
2,897,811

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(3,235,740)
(3,559,535)

Net current liabilities
  
 
 
(121,961)
 
 
(661,724)

Total assets less current liabilities
  
450,235
47,589

Provisions for liabilities
  

Deferred tax
 7 
(8,569)
-

Net assets
  
441,666
47,589


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
441,566
47,489

  
441,666
47,589


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 comprehensive income 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 on 24 September 2024.




P J Curtis
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Oak Tree Derby Limited is a private limited liability company incorporated and domiciled in England and Wales. The registered office address is at Ellern Mede Ridgeway, Holcombe Hill, The Ridgeway, London NW7 4HX.
The company's principal activity is that of provision of inpatient and outpatient treatment and care to children and adolescents with eating disorders.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements 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 Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of inpatient and outpatient services supplied during the year.
Revenue from the provision of eating disorder services to young people are recognised in the period the services are provided.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Pensions

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
a) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
b) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:

Fixtures and fittings
-
15% straight line
Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Basic financial instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2022 - 21).

Page 4

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 January 2023
881,257
30,683
911,940


Additions
20,220
-
20,220



At 31 December 2023

901,477
30,683
932,160



Depreciation


At 1 January 2023
191,797
10,830
202,627


Charge for the year on owned assets
147,212
10,125
157,337



At 31 December 2023

339,009
20,955
359,964



Net book value



At 31 December 2023
562,468
9,728
572,196



At 31 December 2022
689,460
19,853
709,313


5.


Debtors

2023
2022
£
£


Trade debtors
437,050
660,176

Amounts owed by group undertakings
2,421,513
1,795,639

Other debtors
155,803
100

Prepayments and accrued income
21,329
5,329

Deferred taxation
-
122,791

3,035,695
2,584,035


Page 5

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
140,108
74,764

Amounts owed to group undertakings
3,059,490
3,353,753

Taxation and social security
-
73,723

Accruals and deferred income
36,142
57,295

3,235,740
3,559,535



7.


Deferred taxation




2023
2022


£

£






At beginning of year
122,791
106,032


Charged to profit or loss
(131,360)
16,759



At end of year
(8,569)
122,791

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(143,049)
(177,328)

Tax losses carried forward
134,480
300,119

(8,569)
122,791


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


Page 6

 
OAK TREE DERBY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £24,391 (2022 - £8,290).


10.


Controlling party

The immediate parent undertaking is Ellern Mede Investments Limited, a company registered in Guernsey.
The ultimate parent undertaking is Siftanit Limited, a company registered in Israel.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Martyn Atkinson FCA (Senior statutory auditor) on behalf of Sopher + Co LLP.

 
Page 7