Oxen Sports Limited 11099209 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of the management of sporting goods licences. Digita Accounts Production Advanced 6.30.9574.0 true 11099209 2023-08-01 2024-07-31 11099209 2024-07-31 11099209 core:RetainedEarningsAccumulatedLosses 2024-07-31 11099209 core:ShareCapital 2024-07-31 11099209 core:CurrentFinancialInstruments 2024-07-31 11099209 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 11099209 core:Non-currentFinancialInstruments 2024-07-31 11099209 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 11099209 core:OtherResidualIntangibleAssets 2024-07-31 11099209 core:FurnitureFittingsToolsEquipment 2024-07-31 11099209 bus:SmallEntities 2023-08-01 2024-07-31 11099209 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11099209 bus:FilletedAccounts 2023-08-01 2024-07-31 11099209 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11099209 bus:RegisteredOffice 2023-08-01 2024-07-31 11099209 bus:Director1 2023-08-01 2024-07-31 11099209 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11099209 core:IntangibleAssetsOtherThanGoodwill 2023-08-01 2024-07-31 11099209 core:FurnitureFittings 2023-08-01 2024-07-31 11099209 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 11099209 core:OfficeEquipment 2023-08-01 2024-07-31 11099209 countries:EnglandWales 2023-08-01 2024-07-31 11099209 2023-07-31 11099209 core:OtherResidualIntangibleAssets 2023-07-31 11099209 core:FurnitureFittingsToolsEquipment 2023-07-31 11099209 2022-08-01 2023-07-31 11099209 2023-07-31 11099209 core:RetainedEarningsAccumulatedLosses 2023-07-31 11099209 core:ShareCapital 2023-07-31 11099209 core:CurrentFinancialInstruments 2023-07-31 11099209 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11099209 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-07-31 11099209 core:Non-currentFinancialInstruments 2023-07-31 11099209 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 11099209 core:OtherResidualIntangibleAssets 2023-07-31 11099209 core:FurnitureFittingsToolsEquipment 2023-07-31 11099209 core:PreviouslyStatedAmount 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 11099209

Oxen Sports Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Oxen Sports Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Oxen Sports Limited

(Registration number: 11099209)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,720

3,720

Tangible assets

5

1,025

1,367

 

4,745

5,087

Current assets

 

Debtors

6

419,910

375,118

Cash at bank and in hand

 

4,380

3,565

 

424,290

378,683

Creditors: Amounts falling due within one year

7

(70,279)

(26,797)

Net current assets

 

354,011

351,886

Total assets less current liabilities

 

358,756

356,973

Creditors: Amounts falling due after more than one year

7

(128,542)

(134,470)

Net assets

 

230,214

222,503

Capital and reserves

 

Called up share capital

150,100

150,100

Retained earnings

80,114

72,403

Shareholders' funds

 

230,214

222,503

For the financial year ending 31 July 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 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 Profit and Loss Account.

Approved and authorised by the director on 14 March 2025
 

 

Oxen Sports Limited

(Registration number: 11099209)
Balance Sheet as at 31 July 2024

.........................................
Mr S S Miller
Director

 

Oxen Sports Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Askew Building
Heavens Walk
Doncaster
South Yorkshire
DN4 5HZ

These financial statements were authorised for issue by the director on 14 March 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.

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.

Tax

The tax expense for the period comprises current 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.

 

Oxen Sports Limited

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

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

Office equipment

25% reducing balance

Furniture and fittings

25% reducing balance

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

Intangible assets

Not amortised

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.

 

Oxen Sports Limited

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

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 profit and loss account 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Oxen Sports Limited

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2023

3,720

3,720

At 31 July 2024

3,720

3,720

Amortisation

Carrying amount

At 31 July 2024

3,720

3,720

At 31 July 2023

3,720

3,720

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

5,761

5,761

At 31 July 2024

5,761

5,761

Depreciation

At 1 August 2023

4,394

4,394

Charge for the year

342

342

At 31 July 2024

4,736

4,736

Carrying amount

At 31 July 2024

1,025

1,025

At 31 July 2023

1,367

1,367

 

Oxen Sports Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

-

6,829

Other debtors

417,875

367,009

Prepayments

2,035

1,280

419,910

375,118

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,928

5,928

Amounts owed to related parties

4,900

4,900

Taxation and social security

 

6,133

3,347

Corporation tax

 

2,053

11,427

Accrued expenses

 

51,265

1,195

 

70,279

26,797

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

128,542

134,470

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,542

34,470

Other borrowings

100,000

100,000

128,542

134,470

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,928

5,928

 

Oxen Sports Limited

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

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £16,500 (2023 - £22,500).


HSBC UK Bank PLC has a general charge over all of the company's assets.