Company registration number 07540441 (England and Wales)
EXPERIENCE OXFORDSHIRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
EXPERIENCE OXFORDSHIRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EXPERIENCE OXFORDSHIRE LIMITED
COMPANY INFORMATION
Directors
S Crook
D M Hare
E Leffman
(Appointed 14 November 2023)
M Markham
N Poole
T Vorley
(Appointed 6 October 2023)
C Wigg
Company number
07540441
Registered office
30 Upper High Street
Thame
Oxfordshire
OX9 3EZ
Accountants
Richardsons
30 Upper High Street
Thame
Oxfordshire
OX9 3EZ
EXPERIENCE OXFORDSHIRE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,572
3,561
Current assets
Debtors
5
133,653
54,744
Cash at bank and in hand
220,125
295,682
353,778
350,426
Creditors: amounts falling due within one year
6
(246,342)
(226,360)
Net current assets
107,436
124,066
Total assets less current liabilities
112,008
127,627
Creditors: amounts falling due after more than one year
7
(18,216)
(28,260)
Net assets
93,792
99,367
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
93,791
99,366
Total equity
93,792
99,367

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 October 2024 and are signed on its behalf by:
S Crook
Director
Company registration number 07540441 (England and Wales)
EXPERIENCE OXFORDSHIRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Experience Oxfordshire Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Upper High Street, Thame, Oxfordshire, OX9 3EZ. Experience Oxfordshire Limited is a wholly owned subsidiary of Experience Oxfordshire Charitable Trust, company registration No 04588061 and registered charity No 1107094.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 under the historic cost convention. The principal accounting policies are set out below.

2.2
Going concern

The company’s forecasts and projections show that the company should be able to operate within the level of its current facilities. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the annual financial statements.true

 

2.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

Grants are recognised in the year to which they relate and as such are treated as deferred income if they relate to a project being undertaken in the following year.

2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
Over four years straight line
EXPERIENCE OXFORDSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

EXPERIENCE OXFORDSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
9
4
Tangible fixed assets
Computers
£
Cost
At 1 April 2023
42,487
Additions
2,618
Disposals
(920)
At 31 March 2024
44,185
Depreciation and impairment
At 1 April 2023
38,926
Depreciation charged in the year
1,607
Eliminated in respect of disposals
(920)
At 31 March 2024
39,613
Carrying amount
At 31 March 2024
4,572
At 31 March 2023
3,561
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
130,958
54,494
Other debtors
250
250
Prepayments and accrued income
2,445
-
0
133,653
54,744
EXPERIENCE OXFORDSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,054
9,808
Trade creditors
56,131
31,584
Taxation and social security
16,570
25,670
Other creditors
32,060
26,788
Accruals and deferred income
131,527
132,510
246,342
226,360
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
18,216
28,260
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
9
Parent company

The ultimate controlling party is Experience Oxfordshire Charitable Trust which owns 100% of Experience Oxfordshire.

10
Related party transactions

Experience Oxfordshire Charitable Trust

During the year, Experience Oxfordshire Charitable Trust paid a cultural development grant of £64,000 (2023: £30,000) to Experience Oxfordshire Limited.

 

At the year end, Experience Oxfordshire Limited accrued a donation of £nil (2023: £3,899) payable to Experience Oxfordshire Charitable Trust.

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