Registered number
07786312
Oakley House Childrens Home Ltd
Filleted Accounts
31 July 2024
Oakley House Childrens Home Ltd
Registered number: 07786312
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,292 29,405
Current assets
Debtors 4 580,335 611,893
Cash at bank and in hand 177,448 16,294
757,783 628,187
Creditors: amounts falling due within one year 5 (445,039) (193,693)
Net current assets 312,744 434,494
Total assets less current liabilities 357,036 463,899
Provisions for liabilities (4,675) (4,675)
Net assets 352,361 459,224
Capital and reserves
Called up share capital 100 100
Profit and loss account 352,261 459,124
Shareholders' funds 352,361 459,224
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Hasmat-Ali
Director
Approved by the board on 24 April 2025
Oakley House Childrens Home Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% RB
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 18
3 Tangible fixed assets
Leasehold Asset Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 - 90,387 90,387
Additions 50,000 - 50,000
At 31 July 2024 50,000 90,387 140,387
Depreciation
At 1 August 2023 - 60,982 60,982
Charge for the year 27,762 7,351 35,113
At 31 July 2024 27,762 68,333 96,095
Net book value
At 31 July 2024 22,238 22,054 44,292
At 31 July 2023 - 29,405 29,405
4 Debtors 2024 2023
£ £
Trade debtors 68,571 60,118
Other debtors 511,764 551,775
580,335 611,893
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 8,438 14,607
Other creditors 436,601 179,086
445,039 193,693
6 Controlling party
The company was under the control of it's parent Family First Fostering Ltd up until 23 February 2023. The company is now controlled by it's director, Geeta Hasmat-Ali by virtue of her shareholding.
7 Other information
Oakley House Childrens Home Ltd is a private company limited by shares and incorporated in England. Its registered office is:
413 High Street
Stratford
London
E15 4QZ
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