Registered number
07028185
Oxford Biolabs Limited
Filleted Accounts
31 January 2024
Oxford Biolabs Limited
Registered number: 07028185
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,721 4,653
Tangible assets 4 7,394 6,011
Investments 5 754 754
10,869 11,418
Current assets
Stocks 200,122 261,086
Debtors 6 151,115 224,348
Investments held as current assets 7 177,736 -
Cash at bank and in hand 769,095 615,517
1,298,068 1,100,951
Creditors: amounts falling due within one year 8 (159,630) (38,472)
Net current assets 1,138,438 1,062,479
Net assets 1,149,307 1,073,897
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,148,307 1,072,897
Shareholder's funds 1,149,307 1,073,897
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Whitfield
Director
Approved by the board on 22 October 2024
Oxford Biolabs Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 15,622
At 31 January 2024 15,622
Amortisation
At 1 February 2023 10,969
Provided during the year 1,932
At 31 January 2024 12,901
Net book value
At 31 January 2024 2,721
At 31 January 2023 4,653
Product development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 26,963
Additions 4,210
At 31 January 2024 31,173
Depreciation
At 1 February 2023 20,952
Charge for the year 2,827
At 31 January 2024 23,779
Net book value
At 31 January 2024 7,394
At 31 January 2023 6,011
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 754
At 31 January 2024 754
6 Debtors 2024 2023
£ £
Trade debtors 144,338 162,087
Other debtors 6,777 62,261
151,115 224,348
7 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 177,736 -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (7,564) -
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 82,276 -
Taxation and social security costs 30,595 32,997
Other creditors 46,759 5,475
159,630 38,472
9 Other information
Oxford Biolabs Limited is a private company limited by shares and incorporated in England. Its registered office is:
Magdalen Centre, The Oxford Science Park
Robert Robinson Avenue
Oxford
Oxfordshire
OX4 4GA
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