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Registered number: 6266043
OLDHAM MADANI ACADEMY
Financial Statements
For The Year Ended 30 June 2024
Roy & Co
Chartered Certified Accountants
139 Wilbraham Road
Fallowfield
Manchester
M14 7DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 6266043
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 396,698 395,698
Tangible Assets 5 154,257 154,467
550,955 550,165
CURRENT ASSETS
Cash at bank and in hand 29,198 22,571
29,198 22,571
Creditors: Amounts Falling Due Within One Year 6 (6,403 ) (5,184 )
NET CURRENT ASSETS (LIABILITIES) 22,795 17,387
TOTAL ASSETS LESS CURRENT LIABILITIES 573,750 567,552
Creditors: Amounts Falling Due After More Than One Year 7 (147,500 ) (159,500 )
NET ASSETS 426,250 408,052
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 426,248 408,050
SHAREHOLDERS' FUNDS 426,250 408,052
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Moulana Sheikh Yahya
Director
Mr Saleh Mohammed Jakharia
Director
16 October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
OLDHAM MADANI ACADEMY is a private company, limited by shares, incorporated in England & Wales, registered number 6266043 . The registered office is 226-230 Maygate, Chadderton Way, Oldham, OL9 6TR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Motor Vehicles 0
Fixtures & Fittings 15
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 2)
- 2
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4. Intangible Assets
Development Costs
£
Cost
As at 1 July 2023 395,698
Additions 1,000
As at 30 June 2024 396,698
Net Book Value
As at 30 June 2024 396,698
As at 1 July 2023 395,698
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 153,070 5,123 158,193
As at 30 June 2024 153,070 5,123 158,193
Depreciation
As at 1 July 2023 - 3,726 3,726
Provided during the period - 210 210
As at 30 June 2024 - 3,936 3,936
Net Book Value
As at 30 June 2024 153,070 1,187 154,257
As at 1 July 2023 153,070 1,397 154,467
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 6,403 5,184
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Private Loan (Long term liabilities - creditors > 1 year) 147,500 159,500
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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