OXCITAS LIMITED

Company Registration Number:
10874441 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

OXCITAS LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

OXCITAS LIMITED

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 1,644 2,805
Investments: 4 43,998 2,600
Total fixed assets: 45,642 5,405
Current assets
Debtors:   157,541 63,356
Cash at bank and in hand: 389,612 388,404
Total current assets: 547,153 451,760
Creditors: amounts falling due within one year:   (144,140) (110,251)
Net current assets (liabilities): 403,013 341,509
Total assets less current liabilities: 448,655 346,914
Total net assets (liabilities): 448,655 346,914
Capital and reserves
Called up share capital: 246 230
Share premium account: 1,699,111 1,149,325
Profit and loss account: (1,250,702) (802,641)
Shareholders funds: 448,655 346,914

The notes form part of these financial statements

OXCITAS LIMITED

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 February 2024
and signed on behalf of the board by:

Name: B Patel
Status: Director

The notes form part of these financial statements

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc - 33% on cost

Other accounting policies

Investments in subsidiariesInvestments in subsidiary undertakings are recognised at cost.TaxationTaxation 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.Current or deferred taxation assets and liabilities are not discounted.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.Hire purchase and leasing commitmentsRentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.Pension costs and other post-retirement benefitsThe company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.Going concernThe directors have considered the financial position of the company and believes it is well placed to manage its business risks successfully. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of preparation in preparing the financialstatements.

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 5 5

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible Assets

Total
Cost £
At 01 August 2022 3,482
At 31 July 2023 3,482
Depreciation
At 01 August 2022 677
Charge for year 1,161
At 31 July 2023 1,838
Net book value
At 31 July 2023 1,644
At 31 July 2022 2,805

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Fixed investments

Fixed Asset Investment 31.07.23 = £43,998

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Related party transactions

The company is jointly controlled by the directors.During the year the company paid a director £96,000 (2022: £96,000) in consultancy fees. £96,000 was unpaid at 31 July 2023.

OXCITAS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Post balance sheet events

The company is forecast to make a further loss for the 12 months ended 31 July 2024. The company's ability to continue as a going concern is therefore dependent upon the continued support by the investors in terms of additional funding. The company carried out a further funding round in October 2023.Taking all known factors into account the board considers Oxcitas Limited to be a going concern.