IRIS Accounts Production v24.1.9.2 08072753 director 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080727532023-05-31080727532024-05-31080727532023-06-012024-05-31080727532022-05-31080727532022-06-012023-05-31080727532023-05-3108072753ns15:EnglandWales2023-06-012024-05-3108072753ns14:PoundSterling2023-06-012024-05-3108072753ns10:Director12023-06-012024-05-3108072753ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3108072753ns10:SmallEntities2023-06-012024-05-3108072753ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3108072753ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3108072753ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3108072753ns10:FullAccounts2023-06-012024-05-310807275312023-06-012024-05-3108072753ns10:RegisteredOffice2023-06-012024-05-3108072753ns5:CurrentFinancialInstruments2024-05-3108072753ns5:CurrentFinancialInstruments2023-05-3108072753ns5:Non-currentFinancialInstruments2024-05-3108072753ns5:Non-currentFinancialInstruments2023-05-3108072753ns5:ShareCapital2024-05-3108072753ns5:ShareCapital2023-05-3108072753ns5:RetainedEarningsAccumulatedLosses2024-05-3108072753ns5:RetainedEarningsAccumulatedLosses2023-05-3108072753ns5:NetGoodwill2023-06-012024-05-3108072753ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3108072753ns5:PlantMachinery2023-06-012024-05-3108072753ns5:NetGoodwill2023-05-3108072753ns5:NetGoodwill2024-05-3108072753ns5:NetGoodwill2023-05-3108072753ns5:PlantMachinery2023-05-3108072753ns5:PlantMachinery2024-05-3108072753ns5:PlantMachinery2023-05-3108072753ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3108072753ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31080727531ns10:Director12023-05-31080727531ns10:Director12022-05-31080727531ns10:Director12023-06-012024-05-31080727531ns10:Director12022-06-012023-05-31080727531ns10:Director12024-05-31080727531ns10:Director12023-05-31
REGISTERED NUMBER: 08072753 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Oxford Flight Savers Limited

Oxford Flight Savers Limited (Registered number: 08072753)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Oxford Flight Savers Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R Habgood





REGISTERED OFFICE: 30 Bankside Court
Stationfields
Kidlington
Oxfordshire
OX5 1JE





REGISTERED NUMBER: 08072753 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Oxford Flight Savers Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

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 Flight Savers Limited for the year ended 31 May 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Oxford Flight Savers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oxford Flight Savers Limited and state those matters that we have agreed to state to the director of Oxford Flight Savers Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Oxford Flight Savers 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 Flight Savers Limited. You consider that Oxford Flight Savers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oxford Flight Savers 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.






Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE


Date: .............................................

Oxford Flight Savers Limited (Registered number: 08072753)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,277 1,827
2,277 1,827

CURRENT ASSETS
Debtors 6 319,890 306,605
Prepayments and accrued income 26,612 10,452
Cash at bank 18,916 76,121
365,418 393,178
CREDITORS
Amounts falling due within one year 7 (178,258 ) (246,681 )
NET CURRENT ASSETS 187,160 146,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,437

148,324

CREDITORS
Amounts falling due after more than
one year

8

(70,866

)

(81,753

)
NET ASSETS 118,571 66,571

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 118,471 66,471
118,571 66,571

Oxford Flight Savers Limited (Registered number: 08072753)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





R Habgood - Director


Oxford Flight Savers Limited (Registered number: 08072753)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Oxford Flight Savers 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on cost

Taxation
Taxation for the year comprises current 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Oxford Flight Savers Limited (Registered number: 08072753)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 68,358
AMORTISATION
At 1 June 2023
and 31 May 2024 68,358
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 8,516
Additions 1,666
At 31 May 2024 10,182
DEPRECIATION
At 1 June 2023 6,689
Charge for year 1,216
At 31 May 2024 7,905
NET BOOK VALUE
At 31 May 2024 2,277
At 31 May 2023 1,827

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 170,479 163,091
Other debtors 149,411 143,514
319,890 306,605

Oxford Flight Savers Limited (Registered number: 08072753)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts (see note 9) 10,104 9,855
Trade creditors 104,655 131,789
Taxation and social security 22,639 35,515
Other creditors 40,860 69,522
178,258 246,681

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans (see note 9) 70,866 81,753

9. LOANS

The company has a subordinated loan of £50,000 which cannot be repaid without prior consent from the Civil Aviation Authority.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31/5/24 31/5/23
£    £   
R Habgood
Balance outstanding at start of year 98,415 125,893
Amounts advanced 129,647 64,829
Amounts repaid (130,903 ) (92,307 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 97,159 98,415