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REGISTERED NUMBER: 12630229 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

OXVENT LIMITED

OXVENT LIMITED (REGISTERED NUMBER: 12630229)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OXVENT LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2024







DIRECTORS: Professor A D Farmery
Dr F Formenti
Professor S R G Ourselin
Dr M S Thompson





REGISTERED OFFICE: 1 Carnegie Road
Newbury
Berkshire
RG14 5DJ





REGISTERED NUMBER: 12630229 (England and Wales)





ACCOUNTANTS: Banks & Co Limited
Chartered Certified Accountants
1 Carnegie Road
Newbury
Berkshire
RG14 5DJ

OXVENT LIMITED (REGISTERED NUMBER: 12630229)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 969 1,453
Tangible assets 5 6,523 9,829
7,492 11,282

CURRENT ASSETS
Stocks 13,794 27,588
Debtors 6 4,167 10,842
Cash at bank 10,250 18,588
28,211 57,018
CREDITORS
Amounts falling due within one year 7 4,052 7,916
NET CURRENT ASSETS 24,159 49,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,651

60,384

CAPITAL AND RESERVES
Called up share capital 8 8 8
Share premium 406,235 406,235
Retained earnings (374,592 ) (345,859 )
SHAREHOLDERS' FUNDS 31,651 60,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OXVENT LIMITED (REGISTERED NUMBER: 12630229)

BALANCE SHEET - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Dr M S Thompson - Director


OXVENT LIMITED (REGISTERED NUMBER: 12630229)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Oxvent Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The accounts are prepared on a going concern basis, which relies on future investment.

The directors continue to actively seek further inward investment. If the inward investment is not forthcoming, for whatever reason, the going concern concept will not be applicable, and the board will have to take the necessary action.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OXVENT LIMITED (REGISTERED NUMBER: 12630229)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 2,421
AMORTISATION
At 1 June 2023 968
Charge for year 484
At 31 May 2024 1,452
NET BOOK VALUE
At 31 May 2024 969
At 31 May 2023 1,453

Intangible assets are purchased intellectual property which is being amortised over 5 years.

OXVENT LIMITED (REGISTERED NUMBER: 12630229)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 16,270
DEPRECIATION
At 1 June 2023 6,441
Charge for year 3,306
At 31 May 2024 9,747
NET BOOK VALUE
At 31 May 2024 6,523
At 31 May 2023 9,829

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,167 10,842

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 663 2,157
Taxation and social security - 1,597
Other creditors 3,389 4,162
4,052 7,916

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
753,474,000 Share capital 1 £0.00000001 8 8

9. PENSIONS AND OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme. The amount charged to the profit and loss account during the year was £nil (2023 - £594). The balance outstanding at the year end was £nil (2023 - £nil).