Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false2024-01-01Other human health activities11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10472107 2024-01-01 2024-12-31 10472107 2023-01-01 2023-12-31 10472107 2024-12-31 10472107 2023-12-31 10472107 2023-01-01 10472107 1 2024-01-01 2024-12-31 10472107 1 2023-01-01 2023-12-31 10472107 2 2023-01-01 2023-12-31 10472107 d:Director12 2024-01-01 2024-12-31 10472107 e:OfficeEquipment 2024-01-01 2024-12-31 10472107 e:CurrentFinancialInstruments 2024-12-31 10472107 e:CurrentFinancialInstruments 2023-12-31 10472107 e:Non-currentFinancialInstruments 2024-12-31 10472107 e:Non-currentFinancialInstruments 2023-12-31 10472107 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 10472107 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 10472107 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 10472107 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 10472107 e:ShareCapital 2024-12-31 10472107 e:ShareCapital 2023-12-31 10472107 e:ShareCapital 2023-01-01 10472107 e:SharePremium 2024-01-01 2024-12-31 10472107 e:SharePremium 2024-12-31 10472107 e:SharePremium 1 2024-01-01 2024-12-31 10472107 e:SharePremium 2023-12-31 10472107 e:SharePremium 2023-01-01 10472107 e:SharePremium 1 2023-01-01 2023-12-31 10472107 e:SharePremium 2 2023-01-01 2023-12-31 10472107 e:ForeignCurrencyTranslationReserve 2024-01-01 2024-12-31 10472107 e:ForeignCurrencyTranslationReserve 2024-12-31 10472107 e:ForeignCurrencyTranslationReserve 1 2024-01-01 2024-12-31 10472107 e:ForeignCurrencyTranslationReserve 2023-12-31 10472107 e:ForeignCurrencyTranslationReserve 2023-01-01 10472107 e:ForeignCurrencyTranslationReserve 1 2023-01-01 2023-12-31 10472107 e:ForeignCurrencyTranslationReserve 2 2023-01-01 2023-12-31 10472107 e:OtherMiscellaneousReserve 2024-01-01 2024-12-31 10472107 e:OtherMiscellaneousReserve 2024-12-31 10472107 e:OtherMiscellaneousReserve 1 2024-01-01 2024-12-31 10472107 e:OtherMiscellaneousReserve 2023-12-31 10472107 e:OtherMiscellaneousReserve 2023-01-01 10472107 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 10472107 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 10472107 e:MergerReserve 2024-12-31 10472107 e:MergerReserve 1 2024-01-01 2024-12-31 10472107 e:MergerReserve 2023-12-31 10472107 e:MergerReserve 2023-01-01 10472107 e:MergerReserve 1 2023-01-01 2023-12-31 10472107 e:MergerReserve 2 2023-01-01 2023-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2024-12-31 10472107 e:RetainedEarningsAccumulatedLosses 1 2024-01-01 2024-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2023-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2023-01-01 10472107 e:RetainedEarningsAccumulatedLosses 1 2023-01-01 2023-12-31 10472107 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 10472107 d:OrdinaryShareClass1 2024-01-01 2024-12-31 10472107 d:OrdinaryShareClass1 2024-12-31 10472107 d:OrdinaryShareClass1 2023-12-31 10472107 d:OrdinaryShareClass2 2024-01-01 2024-12-31 10472107 d:OrdinaryShareClass2 2024-12-31 10472107 d:OrdinaryShareClass2 2023-12-31 10472107 d:FRS102 2024-01-01 2024-12-31 10472107 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10472107 d:FullAccounts 2024-01-01 2024-12-31 10472107 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10472107 6 2024-01-01 2024-12-31 10472107 e:ShareCapital 1 2024-01-01 2024-12-31 10472107 e:ShareCapital 1 2023-01-01 2023-12-31 10472107 e:ShareCapital 2 2023-01-01 2023-12-31 10472107 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10472107










OXFORD VR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
OXFORD VR LIMITED
REGISTERED NUMBER: 10472107

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
73
73

  
73
73

Current assets
  

Debtors: amounts falling due after more than one year
 5 
6,779,912
6,392,233

Debtors: amounts falling due within one year
 5 
6,671
11,203

Cash at bank and in hand
 6 
63,821
631,525

  
6,850,404
7,034,961

Creditors: amounts falling due within one year
 7 
(248,608)
(23,644)

Net current assets
  
 
 
6,601,796
 
 
7,011,317

Total assets less current liabilities
  
6,601,869
7,011,390

Creditors: amounts falling due after more than one year
  
(15,663)
(208,091)

  

Net assets
  
6,586,206
6,803,299


Capital and reserves
  

Called up share capital 
 9 
8,153
8,153

Share premium account
 10 
19,705,106
19,705,106

Foreign exchange reserve
 10 
493,164
370,547

Other reserves
 10 
(226,125)
(226,125)

Profit and loss account
 10 
(13,394,092)
(13,054,382)

  
6,586,206
6,803,299


The director considers 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 director acknowledges his 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.

Page 1

 
OXFORD VR LIMITED
REGISTERED NUMBER: 10472107

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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


A Gani
Director

Date: 4 April 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2
 

 
OXFORD VR LIMITED


 

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



Called up share capital
Share premium account
Foreign exchange reserve
Other reserves
Share-based payment reserve
Profit and loss account
Total equity


£
£
£
£
£
£
£



At 1 January 2023
8,153
19,705,106
742,912
(226,125)
1,314,547
(13,908,230)
7,636,363





Profit for the year
-
-
-
-
-
853,848
853,848


Foreign exchange movements
-
-
(372,365)
-
-
-
(372,365)


Permanent contributions
-
-
-
-
(1,314,547)
-
(1,314,547)





At 1 January 2024
8,153
19,705,106
370,547
(226,125)
-
(13,054,382)
6,803,299





Loss for the year
-
-
-
-
-
(339,710)
(339,710)


Foreign exchange movements
-
-
122,617
-
-
-
122,617



At 31 December 2024
8,153
19,705,106
493,164
(226,125)
-
(13,394,092)
6,586,206



The notes on pages 4 to 9 form part of these financial statements.

Page 3
 
OXFORD VR LIMITED
 

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

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales, with registered number 10472107. The principal activity of the Company is other human health activities. 
The registered office address is 9400 Garsington Road, Oxford Business Park, Oxford, United Kingdom, OX4 2HN. 

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest pound.

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'.

Foreign exchange gains relating to net investments in a foreign subsidiary are recorded within Other Comprehenisve Income.

Page 4

 
OXFORD VR LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

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.


Research and development tax credits are recognised within the Statement of comprehensive income in the year that the costs are incurred. 

Page 5

 
OXFORD VR LIMITED
 

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

2.Accounting policies (continued)

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
OXFORD VR LIMITED
 

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

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
73



At 31 December 2024
73





5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
6,779,912
6,392,233

6,779,912
6,392,233


2024
2023
£
£

Due within one year

Amounts owed by group undertakings
5,620
5,620

Other debtors
757
5,289

Prepayments and accrued income
294
294

6,671
11,203



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
63,821
631,525

63,821
631,525


Page 7

 
OXFORD VR LIMITED
 

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

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
228,306
7,360

Other taxation and social security
5,598
2,700

Other creditors
2,218
-

Accruals and deferred income
12,486
13,584

248,608
23,644



8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
15,663
208,091

15,663
208,091


Page 8

 
OXFORD VR LIMITED
 

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



334,803 (2023 - 334,803) Ordinary shares of £0.01 each
3,348
3,348
480,454 (2023 - 480,454) Series A shares of £0.01 each
4,805
4,805

8,153

8,153



10.


Reserves

Share premium account

The share premium account represents the premium received on the initial issuance of share capital. Incremental costs directly attributable to the issue of new share capital are shown as a deduction, net of tax, from the share premium account. 

Foreign exchange reserve

The foreign exchange reserve represents the cumulative foreign exchange gains recorded in relation to intercompany transactions that are deemed to be net investments in a foreign subsidiary.

Other reserves

Other reserves include permanent contributions made to OXVR EBT Ltd a 100% owned subsidiary of the Company.

Profit and loss account

The profit and loss account includes all current and prior results disclosed in the Statement of Comprehensive Income


11.


Share-based payments

The Company operates an EMI share option scheme; the charge recognised in the profit and loss account for the year ended 31 December 2024 was £nil (2023: -£1,314,346). During the 2023 all 31,896 options were cancelled in Oxford VR Limited.


12.


Controlling party

The Company is controlled by its shareholders. 

Page 9