Mighty Oak Initiative Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Mighty Oak Initiative Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15486617 . The registered office is Enterprise House Meadowbank, Shap Road, Kendal, Cumbria, LA9 6NY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared in accordance with FRS 102 "The Financial Reporting Standard aplicable 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 review. The financial statements for the period ended 28 February 2025 were prepared under FRS 105. There are changes to the comparative figures as a result of this change. These are detailed in note 4 to the financial statements.

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

The financial statements have been prepared under the historical cost convention. The principle accounting policies are detailed below.

2.2. Significant judgements and estimations

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 apparnt from other sources. The estimates and associated asumptions are based on historical experience and other factors that are considered to be relevant. Actual resuts may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in he period in which the estimate is revised where the revision affects only that perios, or in the period of revision and future periods where the the revision affects both current and future periods.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, net of discounts and value added tax.

The company recognises revenue from the following major sources :

Teaching services
Grants
Interest received

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

Teaching Services

Revenue from teaching services is recognised when the teaching activity is carried out

Grants

The timing of grant income received is detailed in the note below.

...CONTINUED

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Mighty Oak Initiative Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.3. Turnover - continued

Interest Received

Interest received is recognised when it is credited to the account of the company.

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:

Motor Vehicles	25% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	33% straight line

2.5. 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 payments 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. Amounts 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.

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Mighty Oak Initiative Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.6. Taxation

Taxation represents the sum of the tax currently payable and deferred tax.

The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2025: 8)

4. Prior Period Adjustment

Due to the growth of the company, the company changed from preparing accounts under FRS 105 to prepare accounts under FRS 102 1a. This required restating the comparative years accounts to reflect the change required in to provide for deferred taxation of £9,109. This was the only adjustment required.

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Mighty Oak Initiative Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 March 2025	22,995	11,419	3,755	38,169
Additions	-	180	15,433	15,613

As at 28 February 2026	22,995	11,599	19,188	53,782

Depreciation
As at 1 March 2025	929	529	276	1,734
Provided during the period	5,749	2,310	3,670	11,729

As at 28 February 2026	6,678	2,839	3,946	13,463

Net Book Value
As at 28 February 2026	16,317	8,760	15,242	40,319

As at 1 March 2025	22,066	10,890	3,479	36,435

6. Debtors

	28 February 2026	28 February 2025 as restated
	£	£
Due within one year
Trade debtors	-	10,800
Other debtors	15,962	6,550

	15,962	17,350

7. Creditors: Amounts Falling Due Within One Year

	28 February 2026	28 February 2025 as restated
	£	£
Other creditors	122,755	123,978
Taxation and social security	190,089	61,842

	312,844	185,820

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Mighty Oak Initiative Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

8. Share Capital

	28 February 2026	28 February 2025 as restated
Allotted, called up and fully paid	£	£
0 Ordinary Shares of £ 1.00 each	-	100
85 Ordinary A shares of £ 1.00 each	85	-
15 Ordinary B shares of £ 1.00 each	15	-

	100	100

During the year the company redesignated the existing 100 ordinary £1 shares to be 85 A ordinary £1 shares and 15 B ordinary 1 shares

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		28 February 2026		28 February 2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		40,319		36,435

			40,319		36,435
CURRENT ASSETS
Debtors	6	15,962		17,350
Cash at bank and in hand		686,405		202,699

		702,367		220,049
Creditors: Amounts Falling Due Within One Year	7	(312,844 )		(185,820 )

NET CURRENT ASSETS (LIABILITIES)			389,523		34,229

TOTAL ASSETS LESS CURRENT LIABILITIES			429,842		70,664

PROVISIONS FOR LIABILITIES
Deferred Taxation			(10,080 )		(9,109 )

NET ASSETS			419,762		61,555

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			419,662		61,455

SHAREHOLDERS' FUNDS			419,762		61,555