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Registered number: 05874405










OXFORD EXPRESSION TECHNOLOGIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
REGISTERED NUMBER: 05874405

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
113,068
120,500

  
113,068
120,500

Current assets
  

Stocks
 5 
50,994
32,390

Debtors: amounts falling due within one year
 6 
775,585
173,478

Cash at bank and in hand
 7 
2,009,061
1,774,025

  
2,835,640
1,979,893

Creditors: amounts falling due within one year
 8 
(316,576)
(50,318)

Net current assets
  
 
 
2,519,064
 
 
1,929,575

Total assets less current liabilities
  
2,632,132
2,050,075

Provisions for liabilities
  

Deferred tax
 9 
(24,371)
(30,125)

  
 
 
(24,371)
 
 
(30,125)

Net assets
  
2,607,761
2,019,950


Capital and reserves
  

Called up share capital 
 10 
140
140

Share premium account
  
540,678
540,678

Profit and loss account
  
2,066,943
1,479,132

  
2,607,761
2,019,950


Page 1

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
REGISTERED NUMBER: 05874405

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J G Harris
Director

Date: 31 March 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 November 2022
162
540,678
1,497,771
2,038,611


Comprehensive income for the year

Profit for the year
-
-
210,114
210,114

Dividends: Equity capital
-
-
(130,000)
(130,000)

Purchase of own shares
-
-
(98,775)
(98,775)

Shares cancelled during the year
(22)
-
-
(22)

Transfer to/from profit and loss account
-
-
22
22



At 1 November 2023
140
540,678
1,479,132
2,019,950


Comprehensive income for the year

Profit for the year
-
-
717,811
717,811

Dividends: Equity capital
-
-
(130,000)
(130,000)


At 31 October 2024
140
540,678
2,066,943
2,607,761


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Oxford Expression Technologies Limited is a private company, limited by share capital and incorporated in England and Wales.
The registered office is:
James Cowper LLP
2 Communications Road
Greenham Business Park
Newbury
Berkshire
RG19 6AB

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures & fittings
-
10%-30% Straight Line

Page 4

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 6

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.13

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.




3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 16).


4.


Tangible fixed assets





Fixtures & fittings
Total

£
£



Cost or valuation


At 1 November 2023
265,863
265,863


Additions
19,005
19,005



At 31 October 2024

284,868
284,868



Depreciation


At 1 November 2023
145,363
145,363


Charge for the year on owned assets
26,437
26,437



At 31 October 2024

171,800
171,800



Net book value



At 31 October 2024
113,068
113,068



At 31 October 2023
120,500
120,500

Page 7

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
50,994
32,390

50,994
32,390



6.


Debtors

2024
2023
£
£


Trade debtors
659,442
129,127

Other debtors
94,437
-

Prepayments and accrued income
21,706
29,764

Tax recoverable
-
14,587

775,585
173,478



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,009,061
1,774,025

2,009,061
1,774,025



8.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
22,233
10,998

Corporation tax
6,746
-

Other taxation and social security
30,407
11,928

Other creditors
257,190
27,392

316,576
50,318


Page 8

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Deferred taxation




2024


£






At beginning of year
(30,125)


Charged to profit or loss
5,754



At end of year
(24,371)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(24,371)
(30,125)

(24,371)
(30,125)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



140,164 (2023 - 162,064) Ordinary shares of £0.001 each
140
140




11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £25,545 (2023 - £24,901). There were £nil (2023 - £nil) payable to the fund at the balance sheet date 


12.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
22,473
22,473

22,473
22,473

Page 9

 
OXFORD EXPRESSION TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

13.


Related party transactions

During the year to 31 October 2024 the Company paid £34,128  (2023: £56,513) in settlement of consultancy services provided by directors to the Company.
There was £nil (2023: £4,200) outstanding at the year end in relation to the above consultancy services.
During the year to 31 October 2024 the Company received £nil (2023: £1,331) in sales income from a company in which one of the Company's directors is a shareholder.



14.


Controlling party

The Company is under the control of its directors.


Page 10