Registered number
13225348
Oxford Green Innotech Limited
Unaudited Filleted Accounts
29 February 2024
Oxford Green Innotech Limited
Registered number: 13225348
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 40,291 39,111
Investments 4 963 -
41,254 39,111
Current assets
Debtors 5 93,771 113,707
Cash at bank and in hand 21,827 229,179
115,598 342,886
Creditors: amounts falling due within one year 6 (7,286) (7,162)
Net current assets 108,312 335,724
Net assets 149,566 374,835
Capital and reserves
Called up share capital 158 158
Share premium 463,942 463,942
Profit and loss account (314,534) (89,265)
Shareholders' funds 149,566 374,835
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 members have 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.
Wu, Shun Shing Simson
Director
Approved by the board on 8 November 2024
Oxford Green Innotech Limited
Notes to the Accounts
for the year ended 29 February 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Patent & licence:
Cost
At 1 March 2023 41,225
Additions 3,301
At 29 February 2024 44,526
Amortisation
At 1 March 2023 2,114
Provided during the year 2,121
At 29 February 2024 4,235
Net book value
At 29 February 2024 40,291
At 28 February 2023 39,111
Patent is being written off in equal annual instalments over its agreement of 20 years.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 963
At 29 February 2024 963
5 Debtors 2024 2023
£ £
Other debtors 93,771 113,707
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 7,286 7,162
7 Other information
Oxford Green Innotech Limited is a private company limited by shares and incorporated in England. Its registered office is:
9400 Garsington Road
Oxford Business Park
Oxford
OX4 2HN
Oxford Green Innotech Limited 13225348 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Wu, Shun Shing Simson No description of principal activity 13225348 2022-03-01 2023-02-28 13225348 core:WithinOneYear 2023-02-28 13225348 core:ShareCapital 2023-02-28 13225348 core:SharePremium 2023-02-28 13225348 core:RetainedEarningsAccumulatedLosses 2023-02-28 13225348 2023-03-01 2024-02-29 13225348 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13225348 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13225348 bus:Director40 2023-03-01 2024-02-29 13225348 1 2023-03-01 2024-02-29 13225348 2 2023-03-01 2024-02-29 13225348 core:Goodwill 2023-03-01 2024-02-29 13225348 countries:England 2023-03-01 2024-02-29 13225348 bus:FRS102 2023-03-01 2024-02-29 13225348 bus:FilletedAccounts 2023-03-01 2024-02-29 13225348 2024-02-29 13225348 core:WithinOneYear 2024-02-29 13225348 core:ShareCapital 2024-02-29 13225348 core:SharePremium 2024-02-29 13225348 core:RetainedEarningsAccumulatedLosses 2024-02-29 13225348 core:Goodwill 2024-02-29 13225348 core:AdditionsToInvestments 2024-02-29 13225348 2023-02-28 13225348 core:Goodwill 2023-02-28 iso4217:GBP xbrli:pure