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Registered Number: 05867075
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2023

for

ORACLE PUBLICATIONS LTD

Director Mr M Lockwood
Registered Number 05867075
Registered Office Unit 5, Bowker House
Lee Mill Bridge
Ivybridge
Devon
PL21 9EF
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 July 2023
Principal activities
The principal activity of the company in the year under review was that of publishing magazines.
Director
The director who has held office during the whole of the year was as follows:
Mr M Lockwood
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mr M Lockwood
Director

Date approved: 23 April 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 456    320 
456    320 
Current assets      
Debtors 5 34,098    30,554 
Cash at bank and in hand 14,759    21,469 
48,857    52,023 
Creditors: amount falling due within one year 6 (38,678)   (34,494)
Net current assets 10,179    17,529 
 
Total assets less current liabilities 10,635    17,849 
Creditors: amount falling due after more than one year 7 (10,400)   (15,988)
Provisions for liabilities 8 (87)  
Net assets 148    1,861 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 147    1,860 
Shareholder's funds 148    1,861 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 April 2024 and were signed by:


-------------------------------
Mr M Lockwood
Director
3
General Information
Oracle Publications Ltd is a private company, limited by shares, registered in England and Wales, registration number 05867075, registration address Unit 5, Bowker House, Lee Mill Bridge, Ivybridge, Devon, PL21 9EF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings 4 Years Straight Line
Computer Equipment 4 Years Straight Line
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2022 31,000    31,000 
Additions  
Disposals  
At 31 July 2023 31,000    31,000 
Amortisation
At 01 August 2022 31,000    31,000 
Charge for year  
On disposals  
At 31 July 2023 31,000    31,000 
Net book values
At 31 July 2023  
At 31 July 2022  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 August 2022 1,219    8,336    9,555 
Additions   360    360 
Disposals    
At 31 July 2023 1,219    8,696    9,915 
Depreciation
At 01 August 2022 1,219    8,016    9,235 
Charge for year   224    224 
On disposals    
At 31 July 2023 1,219    8,240    9,459 
Net book values
Closing balance as at 31 July 2023   456    456 
Opening balance as at 01 August 2022   320    320 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 15,401    19,239 
Other Debtors 18,697    11,315 
34,098    30,554 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9,369    7,565 
Bank Loans & Overdrafts 5,200    5,069 
Taxation and Social Security 11,236    10,962 
Other Creditors 12,873    10,898 
38,678    34,494 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 10,400    15,988 
10,400    15,988 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 87   
87   

9.

Directors' advances, credits and guarantees

The following credit to the director subsisted during the years ended 31 July 2023 and 31 July 2022:
Mr M Lockwood   2023
£
  2022
£
Balance outstanding at start of year (535) 5,955 
Amounts advanced (19,648) (11,212)
Amounts repaid 14,722  4,722 
Balance outstanding at end of year (5,461) (535)

10.

Ultimate controlling party

The company is ultimately controlled by Mr M Lockwood.
4