Company registration number 10876490 (England and Wales)
NORTH OXFORD SHARED COLLEGE SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
NORTH OXFORD SHARED COLLEGE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
NORTH OXFORD SHARED COLLEGE SERVICES LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
47,452
2,509
Cash at bank and in hand
102,289
104,747
149,741
107,256
Creditors: amounts falling due within one year
5
(149,737)
(107,252)
Net current assets
4
4
Capital and reserves
Called up share capital
4
4
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 December 2023 and are signed on its behalf by:
T Baldwin
Director
Company Registration No. 10876490
NORTH OXFORD SHARED COLLEGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
North Oxford Shared College Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Antony's College, 62 Woodstock Road, Oxford, OX2 6JF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover consists of costs recharged. Adjustments are made at the year-end (via deferred or accrued income) so turnover equals costs in the year.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
NORTH OXFORD SHARED COLLEGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
12
13
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
47,452
2,509
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
68,117
78,746
Other creditors
81,620
28,506
149,737
107,252
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Colin Mills
Statutory Auditor:
Critchleys Audit LLP