Oregen Computer Training (U.K.) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02754299 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OREGEN COMPUTER TRAINING (U.K.) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

V D Medina Lorenzo

SECRETARY:

V D Medina Lorenzo

REGISTERED OFFICE:

167 Staplehurst Road

Sittingbourne

Kent

ME10 1SY

REGISTERED NUMBER:

02754299 (England and Wales)

ACCOUNTANTS:

Xeinadin South East Limited

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

FIXED ASSETS

Tangible assets

4

116

229

Investments

5

2,200

9,000

2,316

9,229

CURRENT ASSETS

Debtors

6

86

1,466

Cash at bank

3,688

1,690

3,774

3,156

CREDITORS

Amounts falling due within one year

7

23,619

11,140

NET CURRENT LIABILITIES

(19,845

)

(7,984

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,529

)

1,245

CREDITORS

Amounts falling due after more than one year

8

(17,984

)

(22,883

)

PROVISIONS FOR LIABILITIES

(29

)

(57

)

NET LIABILITIES

(35,542

)

(21,695

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(35,642

)

(21,795

)

SHAREHOLDERS' FUNDS

(35,542

)

(21,695

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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 and authorised for issue on 12 June 2024 and were signed by:

V D Medina Lorenzo - Director

1.	STATUTORY INFORMATION

Oregen Computer Training (U.K.) 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.

Preparation of consolidated financial statements

The financial statements contain information about Oregen Computer Training (U.K.) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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/or from the rendering of services.

Turnover from the rendering of IT support 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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 balance sheet date.

Deferred tax

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The company has been reported on the going concern basis due to the continued support of the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2023

286

3,479

3,765

Disposals

(46

)

-

(46

)

At 31 December 2023

240

3,479

3,719

DEPRECIATION

At 1 January 2023

187

3,349

3,536

Charge for year

13

54

67

At 31 December 2023

200

3,403

3,603

NET BOOK VALUE

At 31 December 2023

40

76

116

At 31 December 2022

99

130

229

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2023

9,000

Impairments

(6,800

)

At 31 December 2023

2,200

NET BOOK VALUE

At 31 December 2023

2,200

At 31 December 2022

9,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Swift First Aid Training Limited

Registered office: 167 Staplehurst Road, Sittingbourne, Kent, ME10 1SY

Nature of business: Provision of first aid training services

%

Class of shares:

holding

Ordinary

100.00

31.12.23

31.12.22

£

£

Aggregate capital and reserves

5,416

4,748

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

86

1,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

3,917

3,916

Amounts owed to group undertakings

18,295

6,013

Taxation and social security

361

-

Other creditors

1,046

1,211

23,619

11,140

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

17,984

22,883

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,488

3,237

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

-

485

10.	POST BALANCE SHEET EVENTS

After the reporting date, but before the date that these financial statements were signed, the reporting entity's subsidiary, Swift First Aid Training Ltd, sold its assets and business to a third party. The investment has been impaired to the agreed value of the sale that took place after the reporting date. Going forward, it is the aim for this company to be dissolved at Companies House.