Oxford Business College UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05995060 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

OXFORD BUSINESS COLLEGE UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Padmesh Gupta

SECRETARY:

Titikssha Shah

REGISTERED OFFICE:

1st & 2nd Floors

65 George Street

Oxford

Oxfordshire

OX1 2BQ

REGISTERED NUMBER:

05995060 (England and Wales)

AUDITORS:

Brindleys Limited

Statutory Auditors

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

FIXED ASSETS

Intangible assets

4

1,958

2,458

Tangible assets

5

91,385

29,361

93,343

31,819

CURRENT ASSETS

Debtors

6

786,230

837,541

Cash at bank and in hand

187,979

169,109

974,209

1,006,650

CREDITORS

Amounts falling due within one year

7

687,206

773,194

NET CURRENT ASSETS

287,003

233,456

TOTAL ASSETS LESS CURRENT LIABILITIES

380,346

265,275

CREDITORS

Amounts falling due after more than one year

8

25,834

35,834

NET ASSETS

354,512

229,441

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

354,412

229,341

SHAREHOLDERS' FUNDS

354,512

229,441

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 September 2019 and were signed by:

Padmesh Gupta - Director

1.	STATUTORY INFORMATION

Oxford Business College UK Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

5,000

AMORTISATION

At 1 January 2018

2,542

Amortisation for year

500

At 31 December 2018

3,042

NET BOOK VALUE

At 31 December 2018

1,958

At 31 December 2017

2,458

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2018

24,714

52,111

79,048

155,873

Additions

-

80,627

11,858

92,485

At 31 December 2018

24,714

132,738

90,906

248,358

DEPRECIATION

At 1 January 2018

19,930

41,249

65,333

126,512

Charge for year

1,196

22,872

6,393

30,461

At 31 December 2018

21,126

64,121

71,726

156,973

NET BOOK VALUE

At 31 December 2018

3,588

68,617

19,180

91,385

At 31 December 2017

4,784

10,862

13,715

29,361

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

565,017

666,528

Amounts receivable in respect of finance leases

35,950

35,950

Other debtors

15,000

15,000

VAT

-

2,589

Prepayments and accrued income

170,263

117,474

786,230

837,541

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

12,851

11,554

Trade creditors

47,905

59,248

Deposits

27,893

27,911

Tax

29,177

55,544

Social security and other taxes

2,511

2,873

National Insurance

4,520

3,379

VAT

1,673

-

Wages

147

288

Directors' current accounts

174,200

70,045

Accrued expenses

7,976

17,503

Deferred Income

378,353

524,849

687,206

773,194

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

15,834

25,834

25,834

35,834

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kulwinder Singh Chawla FCCA (Senior Statutory Auditor)

for and on behalf of Brindleys Limited

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

Padmesh Gupta

Balance outstanding at start of year

(70,045

)

634

Amounts advanced

95,845

61,821

Amounts repaid

(200,000

)

(132,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(174,200

)

(70,045

)

11.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to

the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Miss Titiksha Shah.