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Registered Number: 09088181
England and Wales

 

 

 

THE OXFORD BAR COMPANY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 40,434    21,341 
40,434    21,341 
Current assets      
Stocks 4 35,000   
Debtors 5 14,420    2,633 
Cash at bank and in hand 201,224    219,163 
250,644    221,796 
Creditors: amount falling due within one year 6 (138,159)   (173,460)
Net current assets 112,485    48,336 
 
Total assets less current liabilities 152,919    69,677 
Provisions for liabilities 7 (10,715)  
Net assets 142,204    69,677 
 

Capital and reserves
     
Called up share capital 8 1    1 
Profit and loss account 142,203    69,676 
Shareholder's funds 142,204    69,677 
 


For the year ended 30 June 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 14 March 2024 and were signed by:


-------------------------------
David Jones
Director
1
General Information
The Oxford Bar Company Limited is a private company, limited by shares, registered in England and Wales, registration number 09088181, registration address Unit 16 Grange Farm Industrial Estate, Little Chesterton, Bicester, OX25 3PD.

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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 years Straight Line
Motor Vehicles 5 years Straight Line
Computer Equipment 5 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 July 2022 36,148    41,000    10,731    87,879 
Additions 29,239      1,592    30,831 
Disposals (3,732)   (21,000)   (1,048)   (25,780)
At 30 June 2023 61,655    20,000    11,275    92,930 
Depreciation
At 01 July 2022 24,094    37,672    4,772    66,538 
Charge for year 6,242    1,928    2,168    10,338 
On disposals (3,732)   (19,600)   (1,048)   (24,380)
At 30 June 2023 26,604    20,000    5,892    52,496 
Net book values
Closing balance as at 30 June 2023 35,051      5,383    40,434 
Opening balance as at 01 July 2022 12,054    3,328    5,959    21,341 


4.

Stocks

2023
£
  2022
£
Stocks 35,000   
35,000   

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 10,010    (100)
Prepayments 3,800    2,601 
Accrued Income 610    132 
14,420    2,633 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 65,443    65,409 
Corporation Tax 17,875    27,238 
Accrued Expenses   1,260 
Deferred income 121    1,078 
Other Creditors 5,840    2,300 
Directors' Current Accounts 21,859    37,747 
VAT 27,021    38,428 
138,159    173,460 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 10,715   
10,715   

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

2