OXB Limited 13240998 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Stock trading. Digita Accounts Production Advanced 6.30.9574.0 true true 13240998 2023-04-01 2024-03-31 13240998 2024-03-31 13240998 bus:OrdinaryShareClass1 2024-03-31 13240998 bus:OrdinaryShareClass2 2024-03-31 13240998 core:CurrentFinancialInstruments 2024-03-31 13240998 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13240998 core:FurnitureFittingsToolsEquipment 2024-03-31 13240998 bus:SmallEntities 2023-04-01 2024-03-31 13240998 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13240998 bus:FullAccounts 2023-04-01 2024-03-31 13240998 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13240998 bus:RegisteredOffice 2023-04-01 2024-03-31 13240998 bus:Director1 2023-04-01 2024-03-31 13240998 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13240998 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 13240998 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13240998 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 13240998 core:OfficeEquipment 2023-04-01 2024-03-31 13240998 countries:EnglandWales 2023-04-01 2024-03-31 13240998 2023-03-31 13240998 core:FurnitureFittingsToolsEquipment 2023-03-31 13240998 2022-04-01 2023-03-31 13240998 2023-03-31 13240998 bus:OrdinaryShareClass1 2023-03-31 13240998 bus:OrdinaryShareClass2 2023-03-31 13240998 core:CurrentFinancialInstruments 2023-03-31 13240998 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13240998 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13240998

OXB Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

OXB Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

OXB Limited

Company Information

Director

Mr Nicholas James Austin

Registered office

Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

Accountants

Blackman Terry Accountants Ltd
Chartered Certified Accountant
Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

 

OXB Limited

(Registration number: 13240998)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,375

4,500

Current assets

 

Cash at bank and in hand

 

34

113

Creditors: Amounts falling due within one year

7

(56,146)

(46,637)

Net current liabilities

 

(56,112)

(46,524)

Net liabilities

 

(52,737)

(42,024)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(52,837)

(42,124)

Shareholders' deficit

 

(52,737)

(42,024)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 October 2024
 

.........................................
Mr Nicholas James Austin
Director

 

OXB Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT
United Kingdom

These financial statements were authorised for issue by the director on 1 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

OXB Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

OXB Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

OXB Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

8,000

8,000

At 31 March 2024

8,000

8,000

Depreciation

At 1 April 2023

3,500

3,500

Charge for the year

1,125

1,125

At 31 March 2024

4,625

4,625

Carrying amount

At 31 March 2024

3,375

3,375

At 31 March 2023

4,500

4,500

5

Stocks

2024
£

2023
£

6

Debtors

Current

2024
£

2023
£

 

-

-

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

23

-

Other creditors

 

56,123

46,637

 

56,146

46,637

 

OXB Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary of £1 each

95

95

95

95

B Ordinary of £1 each

5

5

5

5

 

100

100

100

100

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

23

-