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Registration number: 04520925

Oxford Information Labs Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Oxford Information Labs Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Oxford Information Labs Limited

Company Information

Directors

Mr Lucien Taylor

Mrs Emily Elizabeth Gemma Taylor

Mr Mark Jonathan Robertshaw

Registered office

1st Floor,
Peterley House,
Peterley Road,
Cowley
Oxfordshire
OX4 2TZ

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Oxford Information Labs Limited

(Registration number: 04520925)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,972

44,829

Current assets

 

Debtors

5

212,489

252,682

Cash at bank and in hand

 

37,784

60,358

 

250,273

313,040

Creditors: Amounts falling due within one year

6

(60,566)

(61,532)

Net current assets

 

189,707

251,508

Net assets

 

237,679

296,337

Capital and reserves

 

Called up share capital

7

900

900

Retained earnings

236,779

295,437

Shareholders' funds

 

237,679

296,337

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

 

Oxford Information Labs Limited

(Registration number: 04520925)
Balance Sheet as at 30 June 2024

.........................................
Mr Lucien Taylor
Director

.........................................
Mrs Emily Elizabeth Gemma Taylor
Director

 

Oxford Information Labs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
1st Floor,
Peterley House,
Peterley Road,
Cowley
Oxfordshire
OX4 2TZ
England

These financial statements were authorised for issue by the Board on 28 February 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

 

Oxford Information Labs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

33% straight line

Fixtures and Fittings

25% straight line

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.

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.

 

Oxford Information Labs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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 assets
Financial assets are stated at historical cost less provision for any diminution in value.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

 

Oxford Information Labs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

-

48,195

53,648

101,843

Additions

4,306

14,647

13,798

32,751

Disposals

-

(10,933)

(2,544)

(13,477)

At 30 June 2024

4,306

51,909

64,902

121,117

Depreciation

At 1 July 2023

-

24,538

32,476

57,014

Charge for the year

431

7,750

15,566

23,747

Eliminated on disposal

-

(1,305)

(6,311)

(7,616)

At 30 June 2024

431

30,983

41,731

73,145

Carrying amount

At 30 June 2024

3,875

20,926

23,171

47,972

At 30 June 2023

-

23,657

21,172

44,829

Included within the net book value of land and buildings above is £(431) (2023 - £Nil) in respect of freehold land and buildings and £4,306 (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

Oxford Information Labs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

159,201

158,596

Prepayments

809

809

Other debtors

52,479

93,277

 

212,489

252,682

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

40,974

2,589

Taxation and social security

-

34,348

Accruals and deferred income

2,450

2,450

Other creditors

17,142

22,145

60,566

61,532

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

900

900

900

900