Company registration number 02763508 (England and Wales)
OXFORD HOUSE COLLEGE TRAINING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
OXFORD HOUSE COLLEGE TRAINING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
OXFORD HOUSE COLLEGE TRAINING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
13,471
32,062
Investment property
6
1,550,000
1,550,000
1,563,471
1,582,062
Current assets
Debtors
7
1,187,888
36,637
Cash at bank and in hand
30,792
1,317,208
1,218,680
1,353,845
Creditors: amounts falling due within one year
8
(467,612)
(533,874)
Net current assets
751,068
819,971
Net assets
2,314,539
2,402,033
Capital and reserves
Called up share capital
9
2
2
Other reserves
190,415
190,415
Profit and loss reserves
2,124,122
2,211,616
Total equity
2,314,539
2,402,033

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 September 2025 and are signed on its behalf by:
G Collier
Director
Company registration number 02763508 (England and Wales)
OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Oxford House College Training Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Great Chapel Street, London, United Kingdom,, W1F 8FS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reporting true net loss of £87,494 (2023:- Profit of £275,671). As part of a worldwide Group, the Directors have considered going concern for the Company and in the Director’s opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. The Directors have necessary confirmation from the other group companies to support with working capital requirement as and when necessary. Further, the majority of the balance payable are within the group or connected companies and hence the request for repayment would be postponed if needed.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue from the following major sources:

- English Language courses

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

English Language courses

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measure reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% Per annum on straight line basis
Plant and equipment
33% Per Annum on straight line basis
Fixtures and fittings
10% Per annum on straight line basis
Motor vehicles
25% Per annum on reducing balance method

Freehold property is not depreciated as the residual value is not expected to be materially lower than the net book value. Certain freehold properties were valued in 2004 and they have been brought in at deemed cost on transition to FRS102.

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
14
4
Taxation

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
(Loss)/profit before taxation
(87,494)
275,671
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 19.00% (2023: 25.00%)
(16,624)
68,918
Tax effect of utilisation of tax losses not previously recognised
-
0
(211,500)
Unutilised tax losses carried forward
16,624
-
0
Effect of change in corporation tax rate
-
0
(6,853)
Permanent capital allowances in excess of depreciation
-
0
(3,125)
Depreciation on assets not qualifying for tax allowances
-
0
18,075
Tax on chargeable gains
-
0
134,485
Taxation charge for the year
-
-
OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Taxation
(Continued)
- 6 -

The company has trading losses of £152,282 (202 3: £72,506) which can be carried forward to offset future trading profits or can be used to offset against group profits.

5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
1,177,706
119,526
108,702
67,228
1,473,162
Depreciation and impairment
At 1 January 2024
1,176,651
116,362
97,558
50,529
1,441,100
Depreciation charged in the year
1,055
3,164
10,198
4,174
18,591
At 31 December 2024
1,177,706
119,526
107,756
54,703
1,459,691
Carrying amount
At 31 December 2024
-
0
-
0
946
12,525
13,471
At 31 December 2023
1,055
3,164
11,144
16,699
32,062
6
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,550,000

The 202 4 valuations were made by the directors, on an open market value for existing use basis.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,187,888
36,637
OXFORD HOUSE COLLEGE TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
(303)
21,015
Amounts owed to group undertakings
371,442
114,730
Other creditors
46,333
329,170
Accruals and deferred income
50,140
68,959
467,612
533,874
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
10
Related party transactions

Other debtors include the balance of £1,187,841 owed from Holmes Educations Services Ltd, £47 owed from Holmes Dublin a connected company by virtue of common directorship.

Amount owed to group company includes balance payable of £114,730 payable to Larkspur (Oxford) Ltd and £256,711 payable to Oxford House Education College Ltd.

11
Parent company

The immediate parent company is Oxford House (Holding) Ltd. The ultimate holding company is Liberty trust and investment holding company registered in Australia. The shareholders of the investment holding company and the directors of the company are the ultimate controlling party of the company.

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