Registered number: 11047097
GRID (OXFORD) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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GRID (OXFORD) LIMITED
REGISTERED NUMBER: 11047097
BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Total assets less current liabilities
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GRID (OXFORD) LIMITED
REGISTERED NUMBER: 11047097
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Georgina Robinson
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The notes on pages 3 to 6 form part of these financial statements.
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GRID (OXFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Grid (Oxford) Limited is a limited company incorporated in England being part of the United Kingdom whose registered office and principal place of business is 1st Floor, 24 Bankside, Kidlington, Oxfordshire, OX5 1JE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the period was 2 (2023 - 2).
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GRID (OXFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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Investments in subsidiary companies
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GRID (OXFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Included within other debtors due within one year is a loan to Mrs G Robinson, a director, amounting to £2,000 (2023 - £2,000).
Included within other debtors due within one year is a loan to Mr I Davies, a director, amounting to £2,000 (2023 - £2,000).
The main conditions were as follows:
The loans are interest free and there is no fixed date for repayment
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Cash and cash equivalents
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Analysis of the maturity of loans is given below:
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Authorised, allotted, called up and fully paid
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5,000 (2023 - 5,000) Ordinary shares of £1.00 each
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GRID (OXFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Share premium account
The company undertook a share for share exchange in a previous accounting period where the company acquired the entire share capital of W.I.B. insurance Consultants Limited in exchange for the issue of an additional 1,000 ordinary share of £1 each. This was undertaken in order for a corporate restructure to take place.
As a result of the corporate restructure, a share premium reserve was created amounting to £477,000.
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