REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2021 |
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WESTMINSTER COLLEGE OXFORD TRUST LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2021 |
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FOR |
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WESTMINSTER COLLEGE OXFORD TRUST LIMITED |
WESTMINSTER COLLEGE OXFORD TRUST LIMITED (REGISTERED NUMBER: 03714361) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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WESTMINSTER COLLEGE OXFORD TRUST LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
WESTMINSTER COLLEGE OXFORD TRUST LIMITED (REGISTERED NUMBER: 03714361) |
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BALANCE SHEET |
31 AUGUST 2021 |
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31.8.21 | 31.8.20 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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RESERVES | - | - |
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The directors acknowledge their 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 surplus or deficit 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WESTMINSTER COLLEGE OXFORD TRUST LIMITED (REGISTERED NUMBER: 03714361) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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1. | STATUTORY INFORMATION |
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Westminster College Oxford Trust Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting. |
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Turnover |
Turnover represents the management charge receivable from Westminster College Oxford Trust. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Other creditors |
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Accrued expenses |
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5. | RELATED PARTY DISCLOSURES |
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The company acts as sole Trustee of Westminster College Oxford Trust, a charity. During the period the company invoiced a management charge to the charity of £1,438 (2020: £1,600) in respect of expenses incurred in administering the charity and fulfilling the company's role as Trustee. |
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At the balance sheet date, the balance owed by the company to Westminster College Oxford Trust amounted to £100,876 (2020: £520) which is included in other creditors. The loan is interest free and repayable on demand. |
WESTMINSTER COLLEGE OXFORD TRUST LIMITED (REGISTERED NUMBER: 03714361) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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6. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party of the company is the board of directors collectively as the company acts as sole Trustee of Westminster College Oxford Trust, a charity. |
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The directors are appointed by the Methodist Conference. |