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Registration number: 06296437

Oliver Cox Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Oliver Cox Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Oliver Cox Limited

Company Information

Director

O C Cox

Company secretary

Mrs R Cox

Registered office

163 Herne Hill
London
SE24 9LR

Accountants

Innovi Advisors Ltd
Chartered Certified Accountants163 Herne Hill
London
SE24 9LR

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Oliver Cox Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oliver Cox Limited for the year ended 31 March 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Oliver Cox Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Oliver Cox Limited and state those matters that we have agreed to state to the Board of Directors of Oliver Cox Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oliver Cox Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oliver Cox Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oliver Cox Limited. You consider that Oliver Cox Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oliver Cox Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

10 March 2025

 

Oliver Cox Limited

(Registration number: 06296437)
Statement of Financial Position as at 31 March 2024

Note

31 March
2024
£

31 March
2023
£

Fixed assets

 

Tangible assets

5

30,413

2,238

Other financial assets

6

1,624,565

1,223,794

 

1,654,978

1,226,032

Current assets

 

Debtors

7

219,924

389,743

Cash at bank and in hand

 

70,326

61,156

 

290,250

450,899

Creditors: Amounts falling due within one year

8

(456,692)

(269,472)

Net current (liabilities)/assets

 

(166,442)

181,427

Total assets less current liabilities

 

1,488,536

1,407,459

Creditors: Amounts falling due after more than one year

8

(12,252)

(22,450)

Provisions for liabilities

(408)

(425)

Net assets

 

1,475,876

1,384,584

Capital and reserves

 

Called up share capital

4

4

Retained earnings

1,475,872

1,384,580

Shareholders' funds

 

1,475,876

1,384,584

 

Oliver Cox Limited

(Registration number: 06296437)
Statement of Financial Position as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 10 March 2025
 

O C Cox
Director

   
     
 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
163 Herne Hill
London
SE24 9LR
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover represents the amounts derived from providing independent financial advice during the period.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% on straight line

Motor Vehicles

25% on reducing balance

Computer Equipment

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

165,079

165,079

At 31 March 2024

165,079

165,079

Amortisation

At 1 April 2023

165,079

165,079

At 31 March 2024

165,079

165,079

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

4,556

5,502

-

10,058

Additions

1,598

1,113

35,100

37,811

At 31 March 2024

6,154

6,615

35,100

47,869

Depreciation

At 1 April 2023

3,287

4,533

-

7,820

Charge for the year

469

392

8,775

9,636

At 31 March 2024

3,756

4,925

8,775

17,456

Carrying amount

At 31 March 2024

2,398

1,690

26,325

30,413

At 31 March 2023

1,269

969

-

2,238

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Fixed assets Investments

Other investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

1,223,794

1,223,794

Revaluations

26,003

26,003

Additions

382,493

382,493

Disposals

(7,725)

(7,725)

At 31 March 2024

1,624,565

1,624,565

Impairment

Carrying amount

At 31 March 2024

1,624,565

1,624,565

7

Debtors

31 March
2024
£

31 March
2023
£

Other debtors

219,924

389,743

219,924

389,743

 

Oliver Cox Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

31 March
2024
£

31 March
2023
£

Due within one year

 

Loans and borrowings

9

27,592

27,346

Trade creditors

 

1,208

58

Amounts owed to associates

45,056

52,181

Taxation and social security

 

170,625

120,742

Accruals and deferred income

 

1,200

1,330

Other creditors

 

211,011

67,815

 

456,692

269,472

Creditors: amounts falling due after more than one year

Note

31 March
2024
£

31 March
2023
£

Due after one year

 

Loans and borrowings

9

12,252

22,450

9

Loans and borrowings

Non-current loans and borrowings

31 March
2024
£

31 March
2023
£

Bank borrowings

12,252

22,450

Current loans and borrowings

31 March
2024
£

31 March
2023
£

Bank borrowings

10,203

9,957

Other borrowings

17,389

17,389

27,592

27,346