Company registration number 07192549 (England and Wales)
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 1 -
2023
2022
£
£
Turnover
811,729
450,542
Administrative expenses
(589,558)
(264,755)
Profit before taxation
222,171
185,787
Tax on profit
-
0
-
0
Profit for the financial year
222,171
185,787

The profit and loss account has been prepared on the basis that all operations are continuing operations.

THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
200,323
141,261
Cash at bank and in hand
690,020
656,618
890,343
797,879
Creditors: amounts falling due within one year
5
(668,171)
(612,091)
Net current assets
222,172
185,788
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
222,171
185,787
Total equity
222,172
185,788

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 29 November 2023 and are signed on its behalf by:
A Timms
Director
Company registration number 07192549 (England and Wales)
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2021
1
15,045
15,046
Year ended 31 July 2022:
Profit and total comprehensive income
-
185,787
185,787
Distributions to parent charity under gift aid
-
(15,045)
(15,045)
Balance at 31 July 2022
1
185,787
185,788
Year ended 31 July 2023:
Profit and total comprehensive income
-
222,171
222,171
Distributions to parent charity under gift aid
-
(185,787)
(185,787)
Balance at 31 July 2023
1
222,171
222,172
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
1
Accounting policies
Company information

The Queen's College Oxford Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Queen's College, High Street, Oxford, OX1 4AU.

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 is recognised when the service is provided and amounts received in advance are recorded within creditors.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and amounts owed from group undertakings 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. If not, they are presented as non-current liabilities

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Distributions payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
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
-
0
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,613
25,586
Other debtors
189,710
115,675
200,323
141,261
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
595,223
500,552
Taxation and social security
16,147
13,725
Other creditors
56,801
97,814
668,171
612,091
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
THE QUEEN'S COLLEGE OXFORD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
7
Related party transactions

The company has taken advantage of the exemption in FRS102 from disclosing transactions with other members of the group.

8
Parent company

The company's parent is The Queen's College, Oxford, which produces the consolidated financial statements. The registered office is The Queen's College, High Street, Oxford, OX1 4AW.

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