## **OAKWOOD EDUCATION**
**DIRECTOR'S AND TRUSTEES' REPORT AND ACCOUNTS For the year ended 31 August 2024**
**Company No: 06410625 Charity Number: 1123924**
## **OAKWOOD EDUCATION DIRECTOR'S AND TRUSTEES' REPORT AND ACCOUNTS**
## **Contents**
||**Page**|
|---|---|
|Officers and Financial Advisors|3|
|Directors' and Trustees' Report|4 - 6|
|Independent Examiners Report|7|
|Statement of Financial Activities|8|
|Balance sheet|9|
|Notes to the accounts|10 - 12|
2
## **OAKWOOD EDUCATION**
## **Officers and Financial Advisors**
|Directors|Nadeem Butt|
|---|---|
||Zameed Akhtar|
||Shoaib Rahim|
||Jahid Akbar (Resigned on 29 January 2025)|
||Dr. Salman Iqbal (Appointed on 5 February 2025)|
||Kayarash Kokabi (Appointed on 5 February 2025)|
||Sarah Binte Nasir Naiba (Appointed on 5 February 2025)|
|Management Committee|Nadeem Butt ( Chair)|
||Zameed Akhtar|
||Shoaib Rahim|
||Mr Faisal Khan|
||Dr Salman Iqbal|
||Kayarash Kokabi|
||Sarah Binte Nasir Nabia|
|Company No.|6410625|
|Charity No.|1123924|
|Registered Office|117 Tennyson Road|
||Luton LU1 3RR|
|Accountants|MMK|
||Chartered Certified Accountants|
||960 Capanility Green|
||Luton LU1 3PE|
|Bankers||
||HSBC Bank PLC|
||8 Victoria Street|
||Westminster|
||London SW1H 0NJ|
3
## **OAKWOOD EDUCATION DIRECTORS' AND TRUSTEES REPORT For the year ended 31 August 2024**
The trustees are pleased to present their report together with the financial statements of the charity for the period ending 31 August 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Memorandum and Articles of Association, The Charities Act 2011 and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 26 October 2007 and registered as a charity on 30 April 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
## **Appointment of trustees**
The directors of the company are also charity’s trustees for the purposes of charity law and under the company’s Articles. Under the requirements of the Memorandum and Articles of Association the members of Charity Trustees consists of at least three and not more than seven.
## **Trustee induction and training**
The trustees maintain a working knowledge of charity and company law and from current year onwards, they endevour to attend charity and company courses run by outside providers. New Trustees are given copies of Memorandum and Articles of Association and Policies and Procedures of the organisation.
## **Risk Management**
The directors and trustees have identified the major risks to which the Charity is exposed and believe that the systems in place are adequate to mitigate those risks.The charity makes little use of financial instruments other than an operational bank account and so its exposure to price risk,credit risk,liquidity risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the charity.
## **Public Benefit statement:**
The trustees consider that they have complied with Section 17 of the Charities Act 2011 with regard to the guidance on public benefit published by Charity Commission. The paragraphs below demonstrate the public benefit arising through the Charity's activites.
4
## **OBJECTIVES AND ACTIVITIES**
`
## **The company’s objects and principal activities are:**
a) to advance education by providing education to the local community for children and adults including e-learning,health education and sports and leisure training and activities.
b) to promote religious harmony for the benefit of the public including but not limited to educating faith communities on each others faiths, organising interfaith sporting and recreational events and
c) to advance the religion of Islam.
## **The Role and Contribution of volunteers:**
There are no volunteers in the charity.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Financial review**
The statement of financial activities showed a net surplus for the year of £26,694 (2022- Deficit £70,275). and total reserves stands at £881,497 (2023 – £854,803 ). This includes the book value of the school prperty.
.
## **Principal funding sources**
The principal funding sources of the organisation are the tuition fees from students and grants received for nursery funding.
## **Investment powers and policy**
Under the Memorandum and Articles of Association, the charity has the power to invest in any way Trustees wish. It endeavours to maximise interest income from use of free financial resources.
## **Reserves policy**
The Charity trustees has examined the charity’s requirements for reserves in light of the main risks to the organization. At the end of the period there is an restricted reserve of £881,497 (2023 – £854,804) available to the organisation however the strategy is to continue to build reserves through planned operating surpluses, the Management Committee has also considered the extent to which existing activities and expenditure could be curtailed, in the unlikely event that reserves become inadequate to meet the necessary commitments.
5
## **Trustees’ responsibilities in relation to the financial statements**
Company law requires the trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to:
• Select suitable accounting policies and then apply them consistently;
• Make sound judgements and estimates that are reasonable and prudent; and
• Prepare the financial statements on the going concern basis unless it is appropriate to presume that the charity will not continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
## **Charitable and political donations**
During the year the company made charitable donations of £356
## **APPROVAL**
This report was approved by the Board and signed on its behalf by **:**
**Nadeem Butt Director 28 June 2025**
6
## **Independent examiner’s report to the trustees of Oakwood Education Ltd**
## **For the year ended 31 August 2024**
I report on the accounts of the company for the period ended 31 August 2024, which are set out on pages 8 to 12.
## **Responsibilities and basis of report**
As the trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Misbahul Karim FCCA MMK Chartered Certified Accountants 960 Capability Green Luton, LU1 3PE
7
## **OAKWOOD EDUCATION STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 August 2024**
**----- Start of picture text -----**
Unrestricted Restricted
Notes 2024 2023
Funds Funds
£ £ £ £
Incoming Resources
Grants & Donations 2 - 704,461 704,461 581,077
-
Total Incoming Resources 704,461 704,461 581,077
Resources Expended
Charitable activities 3 10,099 664,267 674,366 647,753
Governance cost 4 3,400 - 3,400 3,600
Total Resources Expended 13,499 664,267 677,766 651,353
Net incoming/(outgoing resources) (13,499) 40,194 26,695 (70,276)
Reconciliation of Funds:
Total funds, brought forward 13,499 841,304 854,803 925,079
-
Total funds, carried forward 881,498 881,498 854,803
**----- End of picture text -----**
## **CONTINUING OPERATIONS**
None of the Charity's activities were acquired or discontinued during the above two financial periods.
## **TOTAL RECOGNISED GAINS AND LOSSES**
The Charity has no recognised gains or losses for the above two financial periods.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The notes on pages 10 to 12 form part of these accounts.
8
## **OAKWOOD EDUCATION**
## **Balance Sheet as at 31 August 2024**
**----- Start of picture text -----**
Notes 2024 2023
£ £ £
Fixed Assets
Tangible Assets 5 827,497 835,177
Current Assets
Debtors & prepayment 6 4,837 -
Cash in hand and at Bank 150,893 76,576
155,730 76,576
Creditors
Amounts falling within one year 7 101,729 56,949
Net Current Liability 54,001 19,627
881,498 854,804
The Funds of the Charity
Unrestricted funds - 13,499
Restricted funds 881,498 841,305
881,498 854,804
**----- End of picture text -----**
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
These accounts were approved by the Board of Directors and Trustees on 30 June 2025 and were signed on its behalf by:
………………………………………………………………………………Chair of the Directors
Nadeem Butt
………………………………………………………………………………
## Faisal Khan
The notes on pages 10 to 12 form part of these accounts.
`
9
## **OAKWOOD EDUCATION Notes to the Accounts For the year ended 31 August 2024**
## **1. Accounting Policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## **1.1 Basis of Accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the applicable Accounting Standards , the Statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2005 and the Companies Act 2006. The principal accounting policies adopted in the preparation
of the financial statements are set out below.
The company has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement on the grounds that it is small company.
## **1.2 Incoming Resources**
Income from activities ,voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.
## **1.3 Resources Expended**
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
## **1.4 Going Concern Basis**
The financial statements have been prepared on the going concern basis, as in the opinion of the director and trustees, there are no issues arising which would suggest any other basis as being more appropriate.
## **1.5 Depreciation**
Depreciation is provided using the following rates and bases to reduce by annual instalments the cost, less estimated residual value, of tangible assets over the estimated useful lives:
Furniture, Fixtures, Fittings and Equipment - 25% on cost.
Improvements - 20% on cost .
,
10
## **OAKWOOD EDUCATION Notes to the Accounts For the year ended 31 August 2024**
## **2. Grants and Donations**
|Appeal
Other Donation
LBC Funding
School Fees
HMRC JRS Grant
**3. Cost of Charitable activities**
Staff costs
Events and Activities
Premises costs
Bank charges
School resources
Insurance
Cleaning
Donations
Equipment hire
Motor expenses
Other legal and professional
Repairs and maintenance
Software
Telephone and fax
Training and Development
General overhead
Advertising and PR
Depreciation|**Unrestricted**
**£**
-
-
-
-
**-**
-
**Unrestricted**
**£**
-
-
-
-
-
-
-
-
-
-
-
2,419
-
-
-
-
-
7,680
10,099|**Restricted**
**£**
-
-
157,619
546,842
-
704,461
**Restricted**
**£**
559865
27074
28,079
256
23,870
4,418
8,395
356
1,711
-
2,704
1,484
1,071
1,050
1,440
957
1,537
-
664,267|**2024**
**£**
-
-
157,619
546,842
-
704,461
**2024**
**£**
559,865
27,074
28,079
256
23,870
4,418
8,395
356
1,711
0
2,704
3,903
1,071
1,050
1,440
957
1,537
7,680
674,366|**2023**
-
30,000
110,375
440,702
-
581,077
**2023**
**£**
532329
11131
14295
225
16938
3000
6,400
16,383
7,110
138
1,600
12,884
7,669
1,337
1,440
3,250
1,552
10,072
647,753|
|---|---|---|---|---|
## **4. Governance Cost**
Accountancy
|**Governance**
£
3,400
3,400|**2024**
£
3,400
3,400|**2023**
£
3,600
3,600|
|---|---|---|
11
## **OAKWOOD EDUCATION Notes to the Accounts**
## **For the year ended 31 August 2024**
|**5. Tangible Fixed Assets**
**L & B**
**COST**
At 1 September 2023
802,442
Additions during the period
As at 31 August 2024
802,442
**DEPRECIATION**
At 1 September 2023
-
Charge for the period
-
As at 31 August 2024
802,442
**NET BOOK VALUES**
As at 31 August 2024
802,442
As at 31 August 2023
802,442
**6. Debtors & Prepayment**
Prepayment
**7. Creditors: amounts falling due within one**
Accruals
Taxation & Social Security
Other Creditors|**Improvements**
75,873
-
75,873
53,216
5,664
58,880
16,993
22,657
**year**|**Furniture &**
**Equipment**
84,816
-
84,816
74,738
2,016
76,754
8,062
10,078|**Motor Vehicle**
6,000
-
6,000
6,000
-
6,000
-
-
**2024**
£
4,837
4,837
**2024**
**£**
-
100,495
1,234
101,729|**Total**
969,131
-
969,131
133,954
7,680
141,634
827,497
835,177
**2023**
£
-
-
**2023**
**£**
-
56,663
286
56,949|
|---|---|---|---|---|
12