Registration number:
Oxley Square Holdings Limited
for the Year Ended 31 March 2022
Oxley Square Holdings Limited
(Registration number: NI637676)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
- |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Retained earnings |
4,028 |
9,433 |
|
Shareholders' funds |
4,128 |
9,533 |
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Oxley Square Holdings Limited
(Registration number: NI637676)
Balance Sheet as at 31 March 2022
These financial statements have 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Oxley Square Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Oxley Square Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Asset class |
Depreciation method and rate |
Office equipment |
20% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Consolidation
Under section 399 of the Companies Act 2006, the Group is exempt from the requirement to prepare group accounts by virtue of its size. Therefore the accounts present information about the Company as an individual undertaking and not about its group.
Oxley Square Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
- |
- |
At 31 March 2021 |
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|
Investments |
2022 |
2021 |
|
Investments in subsidiaries and associated companies |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 April 2021 |
|
Carrying amount |
|
At 31 March 2022 |
|
At 31 March 2021 |
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Oxley Square Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Debtors |
2022 |
2021 |
|
Trade debtors |
|
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
|
Trade creditors |
|
- |
Taxation and social security |
|
- |
Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Oxley Square Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Directors loan |
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Related party transactions |
2022 |
2021 |
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Related party balances |
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Director loan account > 1 yr |
(1,076,324) |
(1,110,935) |
Due to Magell Limited |
(3,684,164) |
(3,187,012) |
Included in debtors is an amount of £10,050 owed from Magell Limited, an associated company which is controlled by Mr Ryan Walker and his immediate family.
Also included in debtors is an amount of £4,000 owed from Magmel ( Ballymena) Limited, a subsidiary company of Magell Limited.
Included in creditors falling due after one year, and detailed above, is an amount owed to Magell Limited, an associated company which is controlled by Mr Ryan Walker and his immediate family.
Interest has been charged on the director's loan account at a rate of 3%.