Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-309The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-06falseNo description of principal activitytrue0false 14151854 2022-06-05 14151854 2022-06-06 2023-06-30 14151854 2021-06-06 2022-06-05 14151854 2023-06-30 14151854 c:Director1 2022-06-06 2023-06-30 14151854 d:OfficeEquipment 2022-06-06 2023-06-30 14151854 d:OfficeEquipment 2023-06-30 14151854 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-06 2023-06-30 14151854 d:Goodwill 2022-06-06 2023-06-30 14151854 d:Goodwill 2023-06-30 14151854 d:CurrentFinancialInstruments 2023-06-30 14151854 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14151854 d:ShareCapital 2023-06-30 14151854 d:RetainedEarningsAccumulatedLosses 2023-06-30 14151854 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 14151854 c:FRS102 2022-06-06 2023-06-30 14151854 c:AuditExempt-NoAccountantsReport 2022-06-06 2023-06-30 14151854 c:FullAccounts 2022-06-06 2023-06-30 14151854 c:PrivateLimitedCompanyLtd 2022-06-06 2023-06-30 14151854 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-06-06 2023-06-30 14151854 d:Goodwill d:OwnedIntangibleAssets 2022-06-06 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 14151854









OBJECTS OF USE (OXFORD) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2023

 
OBJECTS OF USE (OXFORD) LTD
REGISTERED NUMBER: 14151854

BALANCE SHEET
AS AT 30 JUNE 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
9,840

Tangible assets
 5 
4,184

  
14,024

Current assets
  

Stocks
 6 
50,000

Debtors: amounts falling due within one year
 7 
7,188

Cash at bank and in hand
 8 
37,961

  
95,149

Creditors: amounts falling due within one year
 9 
(93,753)

Net current assets
  
 
 
1,396

Total assets less current liabilities
  
15,420

  

Net assets
  
15,420


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
15,320

  
15,420


Page 1

 
OBJECTS OF USE (OXFORD) LTD
REGISTERED NUMBER: 14151854
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2024.




H Rattigan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Objects of Use (Oxford) Ltd, Company Registration Number 14151854
A company limited by shares and incorporated in England and Wales.
Registered office address:
6 Lincoln House, Market Street, Oxford, England, OX1 3EQ.
The company was incorporated on 6 June 2022. The principal activity of the company is the retail of household goods.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5
years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 9.


4.


Intangible assets



Goodwill

£



Cost


Additions
12,300



At 30 June 2023

12,300



Amortisation


Charge for the period on owned assets
2,460



At 30 June 2023

2,460



Net book value



At 30 June 2023
9,840



Page 7

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
4,583



At 30 June 2023

4,583



Depreciation


Charge for the period on owned assets
399



At 30 June 2023

399



Net book value



At 30 June 2023
4,184


6.


Stocks

2023
£

Finished goods and goods for resale
50,000

50,000



7.


Debtors

2023
£


Prepayments and accrued income
7,188

7,188


Page 8

 
OBJECTS OF USE (OXFORD) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
37,961

37,961



9.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
57,268

Corporation tax
7,637

Other taxation and social security
13,930

Other creditors
14,918

93,753



10.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
37,961




Financial assets measured at fair value through profit or loss comprise; Cash at bank and in hand.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.
The pension cost charge represents contributions payable by the Company to the fund and amounted to £59.
Contributions totalling £159 were payable to the fund at the balance sheet date and are included in other creditors.

 
Page 9