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Registration number: 02522112

The Oxford Partnership Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

The Oxford Partnership Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

The Oxford Partnership Limited

Company Information

Directors

Mrs A Jordan

Mr Henry Powell

Ms Margot West

Registered office

Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

Accountants

WoodWhite Accountants Ltd
Chartered Accountants
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

 

The Oxford Partnership Limited

(Registration number: 02522112)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

8,857

8,870

Investments

5

21,546

21,546

 

30,403

30,416

Current assets

 

Stocks

6

3,300

3,500

Debtors

7

438,124

257,218

Cash at bank and in hand

 

43,956

112,544

 

485,380

373,262

Creditors: Amounts falling due within one year

8

(302,744)

(130,515)

Net current assets

 

182,636

242,747

Total assets less current liabilities

 

213,039

273,163

Creditors: Amounts falling due after more than one year

8

(132,312)

(193,450)

Provisions for liabilities

(1,683)

(1,685)

Net assets

 

79,044

78,028

Capital and reserves

 

Called up share capital

165

212

Capital redemption reserve

(81,532)

(23,452)

Profit and loss account

160,411

101,268

Shareholders' funds

 

79,044

78,028

 

The Oxford Partnership Limited

(Registration number: 02522112)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Board on 6 June 2022 and signed on its behalf by:
 

.........................................

Mrs A Jordan
Director

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

These financial statements were authorised for issue by the Board on 6 June 2022.

2

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

The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred 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.

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

12.5% Straight Line

Office Equipment

33% 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2020 - 14).

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2021

10,182

49,322

59,504

Additions

409

3,493

3,902

Disposals

-

(154)

(154)

At 31 December 2021

10,591

52,661

63,252

Depreciation

At 1 January 2021

7,022

43,612

50,634

Charge for the year

535

3,234

3,769

Eliminated on disposal

-

(8)

(8)

At 31 December 2021

7,557

46,838

54,395

Carrying amount

At 31 December 2021

3,034

5,823

8,857

At 31 December 2020

3,160

5,710

8,870

5

Investments

2021
£

2020
£

Investments in associates

21,546

21,546

Associates

£

Cost

At 1 January 2021

21,546

Provision

Carrying amount

At 31 December 2021

21,546

At 31 December 2020

21,546

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

6

Stocks

2021
£

2020
£

Work in progress

2,800

3,000

Other inventories

500

500

3,300

3,500

7

Debtors

2021
£

2020
£

Trade debtors

378,410

179,559

Prepayments

5,335

4,588

Other debtors

54,379

73,071

438,124

257,218

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

105,221

25,550

Trade creditors

 

40,624

23,955

Taxation and social security

 

92,739

33,005

Accruals and deferred income

 

63,043

25,048

Other creditors

 

1,117

22,957

 

302,744

130,515

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

132,312

193,450

2021
£

2020
£

Current loans and borrowings

Bank borrowings

54,750

25,550

Bank overdrafts

50,471

-

105,221

25,550

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2020 - £17,631).

 

The Oxford Partnership Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

11

Related party transactions

Transactions with directors

2021

At 1 January 2021
£

Advances to directors
£

At 31 December 2021
£

Mrs A Jordan

Directors loan account

6,820

7,500

14,320

       
     

 

2020

At 1 January 2020
£

Advances to directors
£

Repayments by director
£

At 31 December 2020
£

Mrs A Jordan

Directors loan account

6,320

8,000

(7,500)

6,820