Registered number
09394625
Oxford Diversity Industries Limited
Unaudited Filleted Accounts
31 March 2023
Oxford Diversity Industries Limited
Registered number: 09394625
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 467,128 441,100
Current assets
Debtors 4 7,297 5,494
Cash at bank and in hand 12,949 6,885
20,246 12,379
Creditors: amounts falling due within one year 5 (341,494) (325,513)
Net current liabilities (321,248) (313,134)
Total assets less current liabilities 145,880 127,966
Provisions for liabilities - deferred taxation (2,052) (2,736)
Net assets 143,828 125,230
Capital and reserves
Called up share capital 100 100
Profit and loss account 143,728 125,130
Shareholder's funds 143,828 125,230
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr M Neshat Omidvaran
Director
Approved by the board on 14 November 2023
Oxford Diversity Industries Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% cost
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Accounting policies (cont'd)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 440,961 29,396 19,500 489,857
Additions 39,230 - - 39,230
At 31 March 2023 480,191 29,396 19,500 529,087
Depreciation
At 1 April 2022 14,262 21,165 13,330 48,757
Charge for the year 9,603 2,056 1,543 13,202
At 31 March 2023 23,865 23,221 14,873 61,959
Net book value
At 31 March 2023 456,326 6,175 4,627 467,128
At 31 March 2022 426,699 8,231 6,170 441,100
4 Debtors 2023 2022
£ £
Trade debtors 7,297 5,263
Other debtors - 231
7,297 5,494
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's loan account 332,610 316,971
Taxation and social security costs 7,768 7,751
Other creditors 1,116 791
341,494 325,513
6 Controlling party
The ultimate controlling party is director, Dr M Neshat Omidvaran.
7 Other information
Oxford Diversity Industries Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Brays, Riverview Court
Castle Gate
Wetherby
West Yorkshire
LS22 6LE
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