Registration number:
for the Period from 1 June 2023 to 30 June 2024
OXLiD Ltd
Contents
Company Information |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
OXLiD Ltd
Company Information
Directors |
Dr A Amigues Dr S W Mahon Mr J W Wood |
Company secretary |
Mr B A French |
Registered office |
|
Auditors |
|
OXLiD Ltd
Directors' Report for the Period from 1 June 2023 to 30 June 2024
The directors present their report and the financial statements for the period from 1 June 2023 to 30 June 2024.
This report has been prepared in accordance with the special provisions of section 381 of the Companies Act 2006 relating to small companies. The directors have taken exemption under this regime not to disclose the strategic report.
Directors' of the company
The directors, who held office during the period, were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the
......................................... |
OXLiD Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 101 'Reduced Disclosure Framework' ('FRS 101'). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether FRS 101 has been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
OXLiD Ltd
Independent Auditor's Report to the Members of OXLiD Ltd
Opinion
We have audited the financial statements of OXLiD Ltd (the 'company') for the period from 1 June 2023 to 30 June 2024, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 101 'Reduced Disclosure Framework', in accordance with the provisions applicable to companies subject to the small companies regime.
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the period then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Key audit matters
Except for the matter described in the Material uncertainty related to going concern section, we have determined that there are no other key audit matters to be communicated in our report.
Material uncertainty related to going concern
We draw attention to Note 2 in the financial statements, which notes that as at 30 June 2024 the company had cash in bank of £31k and £57k in receivables from the R&D tax refund from HMRC, with the forecast cashflow indicating that the company is dependent upon further funds from the parent entity Gelion PLC to continue as a going concern. The directors are confident that additional investment can be attracted in the future, following the announcement of a gross capital raise by the parent entity of £1.57m in December 2024. However these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included a review of the directors' budgets and forecasts and activity since the balance sheet date.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
OXLiD Ltd
Independent Auditor's Report to the Members of OXLiD Ltd
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Directors' Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report. |
Responsibilities of directors
As explained more fully in the [set out on page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
OXLiD Ltd
Independent Auditor's Report to the Members of OXLiD Ltd
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud are detailed below:
• Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
• Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
• Reviewing minutes of meetings of those charged with governance;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Other matters
The financial statements of OXLiD Ltd for the year ended 31 May 2023 were unaudited.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
OXLiD Ltd
Independent Auditor's Report to the Members of OXLiD Ltd
......................................
For and on behalf of
30 St Giles'
OX1 3LE
OXLiD Ltd
Profit and Loss Account for the Period from 1 June 2023 to 30 June 2024
Note |
2024 |
2023 |
|
Other income |
|
|
|
Administrative expenses |
(636,455) |
(155,521) |
|
Research and development expenses |
(303,807) |
(117,409) |
|
Operating (loss)/profit |
( |
|
|
Interest receivable and similar income |
|
|
|
(Loss)/profit before tax |
( |
|
|
Tax on (loss)/profit |
- |
|
|
(Loss)/profit for the period |
( |
|
The above results were derived from continuing operations.
OXLiD Ltd
Statement of Comprehensive Income for the Period from 1 June 2023 to 30 June 2024
2024 |
2023 |
|
(Loss)/profit for the period |
( |
|
Total comprehensive income for the period |
( |
|
OXLiD Ltd
(Registration number: 13388699)
Balance Sheet as at 30 June 2024
Note |
30 June |
31 May |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Trade and other debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
4 |
1 |
|
Share premium reserve |
500,000 |
200,003 |
|
Other reserves |
90,860 |
- |
|
Retained earnings |
(290,094) |
82,012 |
|
Shareholders' funds |
300,770 |
282,016 |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the
......................................... |
OXLiD Ltd
Statement of Changes in Equity for the Period from 1 June 2023 to 30 June 2024
Share based payment reserve |
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 June 2023 |
- |
|
|
|
|
Loss for the period |
- |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
- |
( |
( |
New share capital subscribed |
- |
|
|
- |
|
Share based payment transactions |
90,860 |
- |
- |
- |
90,860 |
At 30 June 2024 |
|
|
|
( |
|
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 June 2022 |
|
- |
( |
( |
Profit for the period |
- |
- |
|
|
Total comprehensive income |
- |
- |
|
|
New share capital subscribed |
- |
|
- |
|
At 31 May 2023 |
1 |
200,003 |
82,012 |
282,016 |
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
General information |
The company is a private company limited by share capital, incorporated and domiciled in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Basis of preparation
These financial statements were prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework.
Summary of disclosure exemptions
In these financial statements, the company has taken advantage of the disclosure exemptions available under FRS 101 in relation to share-based payment, financial instruments, capital management, revenue from contracts with customers, presentation of comparative period reconciliations for share capital, tangible fixed assets, intangible assets and investment property, presentation of a cash-flow statement, the effects of new standards not yet effective and disclosures in respect of the compensation of key management personnel.
This information is included in the consolidated financial statements of Gelion Plc as at 30 June 2024 and these financial statements may be obtained from the parent undertaking's address at C/O Armstong Level 4 Ldn:W, 3 Noble Street, London, EC2V 7EE.
Disclosure of long or short period
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Going concern
The financial statements have been prepared on a going concern basis. The company incurred a loss before tax of £372,106 (FY23: profit of £79,928) for the year ended 30 June 2024. Whilst the company was in a net asset position of £300,770 (FY23: £282,016) with net current assets of £127,037 (FY23: £221,923), the company is dependent upon the ongoing support of its parent entity.
As at 30 June 2024, the company had cash in bank of £31k and £57k in receivables from the R&D tax refund from HMRC. The forecast cashflow indicates that the company is dependent upon further funds from the parent entity, Gelion PLC. As a result, the company is reliant on securing additional funding in H2 2025 which is not guaranteed.
Following the announcement of that the parent entity recently announced the successful completion of a gross capital raise of £1.57m in December 2024, the Board have confidence that based on the prospects of the business and their previous experience in raising equity finance the parent can attract additional investment as required in the future. The Board acknowledges that this funding is not, at the present time, in place. Accordingly, the Board acknowledges that the need for additional funding represents a material uncertainty which may cast significant doubt on the ability of the company to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result if the company was unable to continue as a going concern.
Revenue
Turnover comprises the fair value of the consideration received or receivable for 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.
Other income
Grants and other benefits received from the goverment are recognised at the fair value of the cash received. Government grants are primarily research and development incentives. This represents a refundable tax offset that is available on eligible research and development expenditure incurred by the company.
Government grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants willl be received. Government grants that are receivable as compensation for expenses or losses already incurred are recognised in profit or loss in the period in which they become receivable.
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.
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets is 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 |
5 years straight line |
Office equipment |
5 years straight line |
Intangible assets
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 any 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 not subject to amortisation but is tested for impairment.
Negative goodwill arising on an acquisition is recognised directly in the profit and loss account. On disposal of a subsidiary or a jointly controlled entity, the attributable amount of goodwill is included in the determination of the profit or loss recognised in the profit and loss account on disposal.
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Patents and licences |
Straight line over 5 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 changes in value.
Trade debtors
Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets.
Trade receivables are recognised initially at the transaction price. A provision for the impairment of trade receivables 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 payables 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 payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities.
Trade payables are recognised initially at the transaction price.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a separate entity and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
For defined contribution plans contributions are paid publicly or privately administered pension insurance plans on a mandatory or contractual basis. The contributions are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as an asset.
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Share based payments
During the year the company established an Employee Incentive Share Option Scheme. The fair value of options granted under the scheme is assessed annually and recognised as a cost through the profit and loss account on a straight line basis over the vesting period. This amount is credited to the share options reserve.
Other income |
The analysis of the company's other income for the period from continuing operations is as follows:
2024 |
2023 |
|
Rendering of services |
- |
|
Grants received |
|
|
R&D expenditure credit |
|
- |
|
|
Operating (loss)/profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:
2024 |
2023 |
|
Research and development |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the period was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
|
|
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Income tax |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
- |
( |
The tax on profit before tax for the period is higher than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 20%).
The differences are reconciled below:
2024 |
2023 |
|
(Loss)/profit before tax |
( |
|
Corporation tax at standard rate |
( |
|
Decrease from effect of capital allowances depreciation |
( |
( |
Increase from effect of revenues exempt from taxation |
( |
- |
Increase from effect of expenses not deductible in determining taxable profit (tax loss) |
|
|
Increase from effect of unrelieved tax losses carried forward |
|
- |
Decrease from effect of adjustment in research development tax credit |
- |
( |
Other tax effects for reconciliation between accounting profit and tax expense |
|
|
Total tax credit |
- |
( |
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Intangible assets |
Trademarks, patents and licenses |
Total |
|
Cost or valuation |
||
At 1 June 2023 |
|
|
Additions |
|
|
At 30 June 2024 |
|
|
Amortisation |
||
At 1 June 2023 |
|
|
Amortisation charge |
|
|
At 30 June 2024 |
|
|
Carrying amount |
||
At 30 June 2024 |
|
|
At 31 May 2023 |
|
|
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 June 2023 |
|
|
Additions |
|
|
At 30 June 2024 |
|
|
Depreciation |
||
At 1 June 2023 |
|
|
Charge for the period |
|
|
At 30 June 2024 |
|
|
Carrying amount |
||
At 30 June 2024 |
|
|
At 31 May 2023 |
|
|
Trade and other debtors |
30 June |
31 May |
|
Trade debtors |
|
|
Accrued income |
|
|
Prepayments |
|
|
Income tax asset |
57,360 |
4,649 |
Other debtors |
|
|
|
|
Cash at bank and in hand |
30 June |
31 May |
|
Cash at bank |
|
|
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Creditors: amounts falling due within one year |
30 June |
31 May |
|
Trade creditors |
|
- |
Accrued expenses |
|
|
Amounts due to related parties |
|
- |
Social security and other taxes |
|
|
Other creditors |
- |
|
|
|
Share capital |
Allotted, called up and fully paid shares
30 June |
31 May |
|||
No. |
£ |
No. |
£ |
|
|
|
4 |
|
1 |
New shares allotted
During the period |
Reserves |
Share premium
The share premium has arisen on issue of shares above par value.
Share based payment reserve (Other reserves)
Share based payment reserve represents an agreement between an entity and another party that entitles the other party to receive assets, or equity instruments based on specified conditions.
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £10,767 (2023 - £3,462).
OXLiD Ltd
Notes to the Financial Statements for the Period from 1 June 2023 to 30 June 2024
Parent and ultimate parent undertaking |
The company's immediate parent is
Relationship between entity and parents
The parent of the largest group in which these financial statements are consolidated is
The address of Gelion Plc is:
3 Noble Street
London
EC2V 7EE
Transition to FRS 101 |
The entity has adopted FRS 101 standards for the first time in the current year. There were no adjustments to the previously reported figures as a result of this transition.