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REGISTERED NUMBER: 03467231 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 November 2023

for

OXFORD TRADE FRAMES LIMITED

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OXFORD TRADE FRAMES LIMITED

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: A N Agar
M B Thomas





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 03467231 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Balance Sheet
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 114,275 146,797

CURRENT ASSETS
Stocks 2,060 2,060
Debtors 5 752,963 758,123
Cash at bank 662,661 276,078
1,417,684 1,036,261
CREDITORS
Amounts falling due within one year 6 (968,756 ) (503,003 )
NET CURRENT ASSETS 448,928 533,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,203

680,055

CREDITORS
Amounts falling due after more than one
year

7

(204,718

)

(414,830

)

PROVISIONS FOR LIABILITIES (28,569 ) (36,704 )
NET ASSETS 329,916 228,521

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 329,816 228,421
329,916 228,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Balance Sheet - continued
30 NOVEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





M B Thomas - Director


OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. COMPANY INFORMATION

Oxford Trade Frames Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents 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.

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 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.


Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.


Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 tax
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.

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 50,314 189,542 36,535 276,391
Additions - - 5,142 5,142
At 30 November 2023 50,314 189,542 41,677 281,533
DEPRECIATION
At 1 December 2022 37,498 58,996 33,100 129,594
Charge for year 3,204 32,637 1,823 37,664
At 30 November 2023 40,702 91,633 34,923 167,258
NET BOOK VALUE
At 30 November 2023 9,612 97,909 6,754 114,275
At 30 November 2022 12,816 130,546 3,435 146,797

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 164,792
DEPRECIATION
At 1 December 2022 50,095
Charge for year 28,673
At 30 November 2023 78,768
NET BOOK VALUE
At 30 November 2023 86,024
At 30 November 2022 114,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 432,873 404,794
Amounts owed by group undertakings 300,000 345,000
Directors' current accounts 10,000 -
Prepayments 10,090 8,329
752,963 758,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 123,513 49,000
Hire purchase contracts (see note 8) 21,457 15,417
Trade creditors 319,540 345,197
Tax 103,229 60,608
Social security and other taxes 2,436 2,231
VAT 35,517 16,751
Other creditors 360,489 -
Accruals and deferred income 2,575 13,799
968,756 503,003

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-5 years 156,392 337,754
Hire purchase contracts (see note 8) 48,326 77,076
204,718 414,830

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 21,457 15,417
Between one and five years 48,326 77,076
69,783 92,493

Non-cancellable operating leases
2023 2022
£    £   
Within one year 32,500 32,500
Between one and five years 130,000 130,000
In more than five years 78,542 111,041
241,042 273,541

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
M B Thomas
Balance outstanding at start of year - -
Amounts advanced 10,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 -

Interest is charged on the loan at the official rate. The loan is repayable on demand.

OXFORD TRADE FRAMES LIMITED (REGISTERED NUMBER: 03467231)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


10. RELATED PARTY DISCLOSURES

During the year there was a loan with a connected company. The amount owed to the company was £300,000 (2022: £345,000).

The loan is interest free and repayable on demand.