Company Registration No. 08599044 (England and Wales)
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Unaudited accounts
for the year ended 31 July 2022
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Unaudited accounts
Contents
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Company Information
for the year ended 31 July 2022
Directors
Kingsley Omokhuale
Olakunle Onagoruwa
Hakeem Makanju
Olaolu Elias
Company Number
08599044 (England and Wales)
Registered Office
1st Floor
83 Lewsisham High Street
London
England
SE13 5JX
Accountants
Brown & Bam Associates
143 Pembury Avenue
Worcester Park
Surrey
County (optional)
KT4 8BX
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Accountants' report
Accountants' report to the board of directors of METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) on the preparation of the unaudited statutory accounts for the year ended 31 July 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) for the year ended
31 July 2022 as set out on pages
5 -
6 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER), as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER). You consider that METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER). 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 statutory accounts.
Brown & Bam Associates
143 Pembury Avenue
Worcester Park
Surrey
County (optional)
KT4 8BX
28 April 2023
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Statement of financial position
as at 31 July 2022
Cash at bank and in hand
17,387
5,899
Creditors: amounts falling due within one year
(2,972)
(2,832)
Net current assets
14,415
3,067
Capital redemption reserve
3,052
3,052
Profit and loss account
11,363
15
Shareholders' funds
14,415
3,067
For the year ending 31 July 2022 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2023 and were signed on its behalf by
Kingsley Omokhuale
Director
Company Registration No. 08599044
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER)
Notes to the Accounts
for the year ended 31 July 2022
METHODIST BOYS' HIGH SCHOOL, LAGOS - OLD BOYS ASSOCIATION (UK CHAPTER) is a private company, limited by shares, registered in England and Wales, registration number 08599044. The registered office is 1st Floor, 83 Lewsisham High Street, London, England, SE13 5JX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The selected members in control has a reasonable expectation that the organisation has adequate resources to continue in operation for the foreseeable future. For these reasons, the selected members decides to continue to adopt the going concern basis in preparing the financial statements for the organisation.
4
Creditors: amounts falling due within one year
2022
2021
Amounts owed to group undertakings and other participating interests
2,972
2,832
5
Average number of employees
During the year the average number of employees was 3 (2021: 3).