Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31Product designfalse2023-02-0122falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13751678 2023-02-01 2024-01-31 13751678 2021-11-18 2023-01-31 13751678 2024-01-31 13751678 2023-01-31 13751678 c:Director1 2023-02-01 2024-01-31 13751678 c:Director2 2023-02-01 2024-01-31 13751678 d:ComputerEquipment 2023-02-01 2024-01-31 13751678 d:ComputerEquipment 2024-01-31 13751678 d:ComputerEquipment 2023-01-31 13751678 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13751678 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 13751678 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 13751678 d:CurrentFinancialInstruments 2024-01-31 13751678 d:CurrentFinancialInstruments 2023-01-31 13751678 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13751678 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13751678 d:ShareCapital 2024-01-31 13751678 d:ShareCapital 2023-01-31 13751678 d:RetainedEarningsAccumulatedLosses 2024-01-31 13751678 d:RetainedEarningsAccumulatedLosses 2023-01-31 13751678 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 13751678 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 13751678 c:FRS102 2023-02-01 2024-01-31 13751678 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13751678 c:FullAccounts 2023-02-01 2024-01-31 13751678 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13751678 2 2023-02-01 2024-01-31 13751678 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-02-01 2024-01-31 13751678 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 13751678










OXFORD GAS PRODUCTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
OXFORD GAS PRODUCTS LIMITED
REGISTERED NUMBER: 13751678

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
150,000
200,000

Tangible assets
 5 
922
1,504

  
150,922
201,504

Current assets
  

Debtors: amounts falling due within one year
 6 
44,862
64,712

Cash at bank and in hand
 7 
58,858
12,447

  
103,720
77,159

Creditors: amounts falling due within one year
 8 
(543,549)
(463,785)

Net current liabilities
  
 
 
(439,829)
 
 
(386,626)

Total assets less current liabilities
  
(288,907)
(185,122)

  

Net liabilities
  
(288,907)
(185,122)


Capital and reserves
  

Called up share capital 
  
1,081
1,081

Profit and loss account
  
(289,988)
(186,203)

  
(288,907)
(185,122)

Page 1

 
OXFORD GAS PRODUCTS LIMITED
REGISTERED NUMBER: 13751678
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 year 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: 




R C Wilkinson
C S Wilkinson
Director
Director


Date: 3 April 2024
Date:3 April 2024

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Oxford Gas Products Limited is a private company limited by shares, incorporated on 18th November 2021 in the United Kingdom, whose registered office is 1-2 Cherry barns, High Street, Harwell, Oxfordshire, United Kingdom, OX11 0EY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

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.

 
2.10

Cash and cash equivalents

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet 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

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Intellectual Property

£



Cost


At 1 February 2023
250,000



At 31 January 2024

250,000



Amortisation


At 1 February 2023
50,000


Charge for the year on owned assets
50,000



At 31 January 2024

100,000



Net book value



At 31 January 2024
150,000



At 31 January 2023
200,000



Page 6

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2023
1,747



At 31 January 2024

1,747



Depreciation


At 1 February 2023
243


Charge for the year on owned assets
582



At 31 January 2024

825



Net book value



At 31 January 2024
922



At 31 January 2023
1,504
Page 7

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
43,200
41,904

Other debtors
1,081
22,808

Prepayments and accrued income
581
-

44,862
64,712



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
58,858
12,447

58,858
12,447



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,792
34,954

Other taxation and social security
3,657
6,640

Other creditors
487,473
418,716

Accruals and deferred income
26,627
3,475

543,549
463,785



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
58,858
12,447




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 8

 
OXFORD GAS PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £825 (2023: £400).


11.


Related party transactions

The following transactions were undertaken with Oxford Product Design Limited, a company under common control. Oxford Product Design Limited traded with Oxford Gas Products Limited in the period.  A loan balance is maintained between the two companies, at the period end the balance was £487,473 (2023: £413,696).
An amount of £Nil (2023: £5,000) was owed at the period end to OPD Holdings Limited, a company under common control.

 
Page 9