2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04439476 2023-04-01 2024-03-31 04439476 2024-03-31 04439476 2023-03-31 04439476 2022-04-01 2023-03-31 04439476 2023-03-31 04439476 2022-03-31 04439476 core:FurnitureFittings 2023-04-01 2024-03-31 04439476 bus:Director1 2023-04-01 2024-03-31 04439476 core:FurnitureFittings 2023-03-31 04439476 core:FurnitureFittings 2024-03-31 04439476 core:WithinOneYear 2024-03-31 04439476 core:WithinOneYear 2023-03-31 04439476 core:AfterOneYear 2024-03-31 04439476 core:AfterOneYear 2023-03-31 04439476 core:ShareCapital 2024-03-31 04439476 core:ShareCapital 2023-03-31 04439476 core:RetainedEarningsAccumulatedLosses 2024-03-31 04439476 core:RetainedEarningsAccumulatedLosses 2023-03-31 04439476 core:FurnitureFittings 2023-03-31 04439476 bus:SmallEntities 2023-04-01 2024-03-31 04439476 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04439476 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04439476 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04439476 bus:FullAccounts 2023-04-01 2024-03-31 04439476 core:OfficeEquipment 2023-04-01 2024-03-31 04439476 core:OfficeEquipment 2023-03-31 04439476 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 04439476
OX2P Ltd
Filleted Unaudited Financial Statements
31 March 2024
OX2P Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
339
1,596
Current assets
Stocks
28,036
26,588
Debtors
6
178,689
153,123
Cash at bank and in hand
109,260
65,139
---------
---------
315,985
244,850
Creditors: amounts falling due within one year
7
281,002
223,966
---------
---------
Net current assets
34,983
20,884
--------
--------
Total assets less current liabilities
35,322
22,480
Creditors: amounts falling due after more than one year
8
11,799
21,551
--------
--------
Net assets
23,523
929
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
23,521
927
--------
----
Shareholders funds
23,523
929
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OX2P Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
Mr T Matthews
Director
Company registration number: 04439476
OX2P Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% straight line
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
5,594
3,300
8,894
Additions
75
75
-------
-------
-------
At 31 March 2024
5,594
3,375
8,969
-------
-------
-------
Depreciation
At 1 April 2023
5,383
1,915
7,298
Charge for the year
211
1,121
1,332
-------
-------
-------
At 31 March 2024
5,594
3,036
8,630
-------
-------
-------
Carrying amount
At 31 March 2024
339
339
-------
-------
-------
At 31 March 2023
211
1,385
1,596
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
157,421
137,972
Other debtors
21,268
15,151
---------
---------
178,689
153,123
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,701
10,950
Trade creditors
134,835
58,850
Corporation tax
36,135
29,280
Social security and other taxes
9,219
4,101
Other creditors
90,112
120,785
---------
---------
281,002
223,966
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,799
21,551
--------
--------