Registered number: 6266043
OLDHAM MADANI ACADEMY DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Roy & Co Chartered Certified Accountants 139 Wilbraham Road Fallowfield Manchester M14 7DS
OLDHAM MADANI ACADEMY Directors' Report and Financial Statements For The Year Ended 30 June 2021
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—8 |
| The following pages do not form part of the statutory accounts: | |
| Trading Profit and Loss Account | 9 |
OLDHAM MADANI ACADEMY Company Information For The Year Ended 30 June 2021
| Directors | Mr Moulana Sheikh Yahya |
|---|---|
| Mr Saleh Mohammed Jakharia | |
| Company Number | 6266043 |
| Registered Office | 226-230 Maygate |
| Chadderton Way | |
| Oldham | |
| OL9 6TR | |
| Accountants | Roy & Co |
| Chartered Certified Accountants | |
| 139 Wilbraham Road | |
| Fallowfield | |
| Manchester | |
| M14 7DS |
Page 1
OLDHAM MADANI ACADEMY Company No. 6266043 Directors' Report For The Year Ended 30 June 2021
The directors present their report and the financial statements for the year ended 30 June 2021.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently; make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Mr Moulana Sheikh Yahya
Mr Saleh Mohammed Jakharia
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Moulana Sheikh Yahya
Director
Mr Saleh Mohammed Jakharia Director
1 October 2021
Page 2
OLDHAM MADANI ACADEMY Accountant's Report For The Year Ended 30 June 2021
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 June 2021 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
1 October 2021
Roy & Co Chartered Certified Accountants 139 Wilbraham Road Fallowfield Manchester M14 7DS
Page 3
OLDHAM MADANI ACADEMY Profit and Loss Account For The Year Ended 30 June 2021
| Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses Other operating income OPERATING PROFIT/(LOSS) Interest payable and similar charges PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
2021 £ 91,308 - 91,308 (25,800) 16,299 81,807 (364) 81,443 |
2020 £ 18,128 - |
|---|---|---|
| 18,128 (24,225) - |
||
| (6,097) (708) |
||
| (6,805) |
The notes on pages 7 to 8 form part of these financial statements.
Page 4
OLDHAM MADANI ACADEMY Balance Sheet As at 30 June 2021
| Notes FIXED ASSETS Intangible Assets 3 Tangible Assets 4 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 5 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 6 NET ASSETS CAPITAL AND RESERVES Called up share capital 7 Profit and Loss Account SHAREHOLDERS' FUNDS |
2021 £ £ 365,498 155,003 520,501 17,178 17,178 (6,212) 10,966 531,467 (224,095) 307,372 2 307,370 307,372 |
2021 £ £ 365,498 155,003 520,501 17,178 17,178 (6,212) 10,966 531,467 (224,095) 307,372 2 307,370 307,372 |
2020 £ £ 359,498 155,344 514,842 22,950 22,950 (6,640) 16,310 531,152 (305,223) 225,929 2 225,927 225,929 |
2020 £ £ 359,498 155,344 514,842 22,950 22,950 (6,640) 16,310 531,152 (305,223) 225,929 2 225,927 225,929 |
|---|---|---|---|---|
| 520,501 10,966 |
514,842 16,310 |
|||
| 17,178 (6,212) |
22,950 (6,640) |
|||
| 531,467 | 531,152 | |||
| (224,095) | (305,223) | |||
| 307,372 | 225,929 | |||
| 2 307,370 |
2 225,927 |
|||
| 307,372 | 225,929 |
Page 5
OLDHAM MADANI ACADEMY Balance Sheet (continued) As at 30 June 2021
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Moulana Sheikh Yahya Mr Saleh Mohammed Jakharia Director Director
1 October 2021
The notes on pages 7 to 8 form part of these financial statements.
Page 6
OLDHAM MADANI ACADEMY Notes to the Financial Statements For The Year Ended 30 June 2021
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Research and Development
Expenditure on research and development is written off in the year it is incurred.
1.4. 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:
| Freehold | 0 |
|---|---|
| Motor Vehicles | 0 |
| Fixtures & Fittings | 15% |
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2020: NIL)
3. Intangible Assets
| Cost As at 1 July 2020 Additions As at 30 June 2021 Net Book Value As at 30 June 2021 As at 1 July 2020 |
Development Costs £ 359,498 6,000 |
|---|---|
| 365,498 | |
| 365,498 | |
| 359,498 |
Page 7
OLDHAM MADANI ACADEMY Notes to the Financial Statements (continued) For The Year Ended 30 June 2021
4. Tangible Assets
| Cost As at 1 July 2020 As at 30 June 2021 Depreciation As at 1 July 2020 Provided during the period As at 30 June 2021 Net Book Value As at 30 June 2021 As at 1 July 2020 . Creditors: Amounts Falling Due Within One Year Trade creditors Accruals and deferred income . Creditors: Amounts Falling Due After More Than One Year Bank loans Private Loan (Long term liabilities - creditors > 1 year) . Share Capital Allotted, Called up and fully paid |
Land & Property Freehold £ 153,070 |
Land & Property Freehold £ 153,070 |
Fixtures & Fittings £ 5,123 |
Total £ 158,193 |
|---|---|---|---|---|
| 153,070 | 5,123 | 158,193 | ||
| - - |
2,849 341 |
2,849 341 |
||
| - | 3,190 | 3,190 | ||
| 153,070 | 1,933 | 155,003 | ||
| 153,070 | 2,274 | 155,344 | ||
| 2021 £ (1) 6,213 6,212 2021 £ 10,395 213,700 224,095 2021 2 |
2020 £ - 6,640 |
|||
| 6,640 | ||||
| 2020 £ 19,759 285,464 |
||||
| 305,223 | ||||
| 2020 2 |
5. Creditors: Amounts Falling Due Within One Year
-
Creditors: Amounts Falling Due After More Than One Year
-
Share Capital
8. General Information
OLDHAM MADANI ACADEMY is a private company, limited by shares, incorporated in England & Wales, registered number 6266043. The registered office is 226-230 Maygate, Chadderton Way, Oldham, OL9 6TR.
Page 8
OLDHAM MADANI ACADEMY Trading Profit and Loss Account For The Year Ended 30 June 2021
| TURNOVER Student Fees Friday Collection Donations & Other Collections GROSS PROFIT Administrative Expenses Wages and salaries Motor & Travel expenses Rates & Insurance Light and heat Laundry & Cleaning Repairs, renewals and maintenance Printing, postage and stationery Advertisement Radio & Telecommunications Depreciation of fixtures and fittings Sundry expenses Other Operating Income Other coronavirus grant income OPERATING PROFIT/(LOSS) Interest payable and similar expenses Bank loan interest PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
2021 £ £ - 14,074 77,234 91,308 91,308 18,315 10 1,435 1,790 1,170 2,200 150 100 250 341 39 (25,800) 16,299 16,299 81,807 364 (364) 81,443 |
2021 £ £ - 14,074 77,234 91,308 91,308 18,315 10 1,435 1,790 1,170 2,200 150 100 250 341 39 (25,800) 16,299 16,299 81,807 364 (364) 81,443 |
2020 £ £ 5,202 11,514 1,412 18,128 18,128 15,473 589 1,405 1,586 1,020 3,092 324 - 238 401 97 (24,225) - - (6,097) 708 (708) (6,805) |
2020 £ £ 5,202 11,514 1,412 18,128 18,128 15,473 589 1,405 1,586 1,020 3,092 324 - 238 401 97 (24,225) - - (6,097) 708 (708) (6,805) |
|---|---|---|---|---|
| 91,308 91,308 (25,800) 16,299 |
18,128 18,128 (24,225) - |
|||
| 16,299 | - | |||
| 364 | 708 | |||
| 81,807 (364) |
(6,097) (708) |
|||
| 81,443 | (6,805) |
Page 9