Limited Liability Partnership registration number OC352045 (England and Wales)
OXFORD BUSINESS ASSOCIATES LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
OXFORD BUSINESS ASSOCIATES LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Oxford Business Group (London) Limited
M Benson - Colpi
A J Jeffreys
Limited liability partnership number
OC352045
Registered office
9 Bonhill Street
London
EC2A 4DJ
Accountants
Begbies
9 Bonhill Street
London
EC2A 4DJ
OXFORD BUSINESS ASSOCIATES LLP
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
OXFORD BUSINESS ASSOCIATES LLP
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
5
32,625
32,625
Current assets
Debtors
1,937,472
1,912,758
Cash at bank and in hand
709
709
1,938,181
1,913,467
Creditors: amounts falling due within one year
(79,397)
(88,784)
Net current assets
1,858,784
1,824,683
Total assets less current liabilities
1,891,409
1,857,308
Creditors: amounts falling due after more than one year
(114,909)
(155,909)
Net assets attributable to members
1,776,500
1,701,399
Represented by:
Loans and other debts due to members within one year
7
(1,776,500)
(1,701,399)

In accordance with section 444 of the Companies Act 2006 as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008, all of the members of the limited liability partnership have consented to the abridgement of the financial statements pursuant to paragraph 1A of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations (SI 2008/1912)(a).

The members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 December 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

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

OXFORD BUSINESS ASSOCIATES LLP
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the members and authorised for issue on 21 November 2024 and are signed on their behalf by:
21 November 2024
M Benson - Colpi
Designated member
Limited Liability Partnership registration number OC352045 (England and Wales)
OXFORD BUSINESS ASSOCIATES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Limited liability partnership information

Oxford Business Associates LLP is a limited liability partnership incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together 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, rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to subsidiary companies.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

Losses are automatically divided as they arise giving the LLP the right to seek payment from members. Therefore they are presented within members’ remuneration charged as an expense and, to the extent they remain unpaid and are considered recoverable, shown as debtors in the Statement of Financial position and as amounts due from members within members’ interests.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 12 years.

OXFORD BUSINESS ASSOCIATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the limited liability partnership. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include trade and other receivables 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 less any impairment.

 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

 

Basic financial Liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Financial liabilities are derecognised when the limited liability partnership’s contractual obligations expire or are discharged or cancelled.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

OXFORD BUSINESS ASSOCIATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members 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.

3
Employees

The partnership had no employees (excluding members) in the year.

4
Intangible fixed assets
Total
£
Cost
At 1 January 2023 and 31 December 2023
31,100,000
Amortisation and impairment
At 1 January 2023 and 31 December 2023
31,100,000
Carrying amount
-
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
32,625
32,625
6
Subsidiaries

Details of the limited liability partnership's subsidiaries at 31 December 2023 are as follows:

Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Indirect
Oxford Business Group - Turkey
Turkey
corporate services
ordinary
100.00
-
Oxford Business Group FZLLC
Dubai
publishing
ordinary
100.00
-
Escriva Support Services
Inc.
Phillipines
corporate services
ordinary
99.99
0.01

The full name of 'Oxford Business Group -Turkey' is Oxford Business Group Yayincilik Kurumsal Hizmetleri Limited Sirketi; it is owned through a subsidiary company.

OXFORD BUSINESS ASSOCIATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Reconciliation of Members' Interests
DEBT
TOTAL
Loans and other debts due to members
MEMBERS'
INTERESTS
£
£
Members' interests at 1 January 2023
1,701,399
1,701,399
Members' interests after loss for the year
1,701,399
1,701,399
Drawings on account and distributions of profit
75,101
75,101
Members' interests at 31 December 2023
1,776,500
1,776,500
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2023-12-312023-01-01false21 November 2024CCH SoftwareCCH Accounts Production 2024.210falsefalse0OC3520452023-01-012023-12-31OC352045bus:PartnerLLP12023-01-012023-12-31OC352045bus:PartnerLLP22023-01-012023-12-31OC352045bus:PartnerLLP32023-01-012023-12-31OC3520452023-12-31OC352045bus:LimitedLiabilityPartnershipLLP2023-01-012023-12-31OC352045bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-31OC352045bus:FRS1022023-01-012023-12-31OC352045bus:AuditExemptWithAccountantsReport2023-01-012023-12-31OC352045bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:shares