Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31true2022-06-01falseThe principal activity of the company is the rental of investment properties.11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02016039 2022-06-01 2023-05-31 02016039 2021-06-01 2022-05-31 02016039 2023-05-31 02016039 2022-05-31 02016039 c:Director1 2022-06-01 2023-05-31 02016039 d:PlantMachinery 2022-06-01 2023-05-31 02016039 d:PlantMachinery 2023-05-31 02016039 d:PlantMachinery 2022-05-31 02016039 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 02016039 d:FreeholdInvestmentProperty 2023-05-31 02016039 d:FreeholdInvestmentProperty 2022-05-31 02016039 d:CurrentFinancialInstruments 2023-05-31 02016039 d:CurrentFinancialInstruments 2022-05-31 02016039 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02016039 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 02016039 d:ShareCapital 2023-05-31 02016039 d:ShareCapital 2022-05-31 02016039 d:RevaluationReserve 2023-05-31 02016039 d:RevaluationReserve 2022-05-31 02016039 d:RetainedEarningsAccumulatedLosses 2023-05-31 02016039 d:RetainedEarningsAccumulatedLosses 2022-05-31 02016039 c:OrdinaryShareClass1 2022-06-01 2023-05-31 02016039 c:OrdinaryShareClass1 2023-05-31 02016039 c:OrdinaryShareClass1 2022-05-31 02016039 c:OrdinaryShareClass2 2022-06-01 2023-05-31 02016039 c:OrdinaryShareClass2 2023-05-31 02016039 c:OrdinaryShareClass2 2022-05-31 02016039 c:FRS102 2022-06-01 2023-05-31 02016039 c:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 02016039 c:FullAccounts 2022-06-01 2023-05-31 02016039 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02016039










Oxford Finance Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2023





 
Oxford Finance Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Oxford Finance Limited for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oxford Finance Limited for the year ended 31 May 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Oxford Finance Limited in accordance with the terms of our engagement letter dated 3 January 2024Our work has been undertaken solely to prepare for your approval the financial statements of Oxford Finance Limited  and state those matters that we have agreed to state to the director of Oxford Finance Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oxford Finance Limited and its director for our work or for this report. 

It is your duty to ensure that Oxford Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oxford Finance Limited. You consider that Oxford Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Oxford Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
15 January 2024
Page 1

 
Oxford Finance Limited
Registered number: 02016039

Balance Sheet
As at 31 May 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
39
52

Investment property
 5 
150,000
150,000

  
150,039
150,052

Current assets
  

Debtors: amounts falling due within one year
 6 
12
895

Cash at bank and in hand
  
159,489
133,561

  
159,501
134,456

Creditors: amounts falling due within one year
 7 
(35,532)
(11,586)

Net current assets
  
 
 
123,969
 
 
122,870

Total assets less current liabilities
  
274,008
272,922

Provisions for liabilities
  

Deferred tax
  
(15,531)
(15,531)

  
 
 
(15,531)
 
 
(15,531)

Net assets
  
258,477
257,391


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Revaluation reserve
  
90,546
90,546

Profit and loss account
  
157,931
156,845

  
258,477
257,391


Page 2

 
Oxford Finance Limited
Registered number: 02016039

Balance Sheet (continued)
As at 31 May 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 year 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 comprehensive income 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 by: 




................................................
M P Adams
Director
Date: 9 January 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
Oxford Finance Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

1.


General information

The Company is a private company limited by share capital incorporated in England, within the United Kingdom. These financial statements are presented in sterling and are rounded to the nearest £1. 
The Company's registered office is: 26 Upper Brook Hill, Woodstock, Oxfordshire, OX20 1UA.

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

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

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:

Plant and machinery
-
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.

Page 4

 
Oxford Finance Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
Oxford Finance Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 June 2022
1,476



At 31 May 2023

1,476



Depreciation


At 1 June 2022
1,424


Charge for the year on owned assets
13



At 31 May 2023

1,437



Net book value



At 31 May 2023
39



At 31 May 2022
52


5.


Investment property


Investment property

£



Valuation


At 1 June 2022
150,000



At 31 May 2023
150,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
43,923
43,923

43,923
43,923

Page 6

 
Oxford Finance Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

6.


Debtors

2023
2022
£
£


Trade debtors
12
895

12
895



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,196
724

Other creditors
32,236
8,792

Accruals and deferred income
2,100
2,070

35,532
11,586



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5,000 (2022 - 5,000) Ordinary A shares of £1 each
5,000
5,000
5,000 (2022 - 5,000) Ordinary B shares of £1 each
5,000
5,000

10,000

10,000



Page 7