Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31Other research and experimental development on natural sciences and engineeringfalse2024-01-0112truefalse22true 13519271 2024-01-01 2024-12-31 13519271 2023-01-01 2023-12-31 13519271 2024-12-31 13519271 2023-12-31 13519271 2023-01-01 13519271 2 2024-01-01 2024-12-31 13519271 2 2023-01-01 2023-12-31 13519271 d:Director10 2024-01-01 2024-12-31 13519271 e:Buildings e:ShortLeaseholdAssets 2024-01-01 2024-12-31 13519271 e:Buildings e:ShortLeaseholdAssets 2024-12-31 13519271 e:Buildings e:ShortLeaseholdAssets 2023-12-31 13519271 e:PlantMachinery 2024-01-01 2024-12-31 13519271 e:PlantMachinery 2024-12-31 13519271 e:PlantMachinery 2023-12-31 13519271 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:FurnitureFittings 2024-01-01 2024-12-31 13519271 e:FurnitureFittings 2024-12-31 13519271 e:FurnitureFittings 2023-12-31 13519271 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:OfficeEquipment 2024-01-01 2024-12-31 13519271 e:OfficeEquipment 2024-12-31 13519271 e:OfficeEquipment 2023-12-31 13519271 e:OfficeEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:ComputerEquipment 2024-01-01 2024-12-31 13519271 e:ComputerEquipment 2024-12-31 13519271 e:ComputerEquipment 2023-12-31 13519271 e:ComputerEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 13519271 e:OtherPropertyPlantEquipment 2024-12-31 13519271 e:OtherPropertyPlantEquipment 2023-12-31 13519271 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519271 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 13519271 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 13519271 e:CurrentFinancialInstruments 2024-12-31 13519271 e:CurrentFinancialInstruments 2023-12-31 13519271 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 13519271 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 13519271 e:ShareCapital 2024-12-31 13519271 e:ShareCapital 2023-01-01 2023-12-31 13519271 e:ShareCapital 2023-12-31 13519271 e:ShareCapital 2023-01-01 13519271 e:SharePremium 2024-01-01 2024-12-31 13519271 e:SharePremium 2024-12-31 13519271 e:SharePremium 2 2024-01-01 2024-12-31 13519271 e:SharePremium 2023-01-01 2023-12-31 13519271 e:SharePremium 2023-12-31 13519271 e:SharePremium 2023-01-01 13519271 e:SharePremium 2 2023-01-01 2023-12-31 13519271 e:OtherMiscellaneousReserve 2024-01-01 2024-12-31 13519271 e:OtherMiscellaneousReserve 2024-12-31 13519271 e:OtherMiscellaneousReserve 2 2024-01-01 2024-12-31 13519271 e:OtherMiscellaneousReserve 2023-12-31 13519271 e:OtherMiscellaneousReserve 2023-01-01 13519271 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2024-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2 2024-01-01 2024-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2023-12-31 13519271 e:RetainedEarningsAccumulatedLosses 2023-01-01 13519271 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 13519271 d:OrdinaryShareClass1 2024-01-01 2024-12-31 13519271 d:OrdinaryShareClass1 2024-12-31 13519271 d:OrdinaryShareClass1 2023-12-31 13519271 d:OrdinaryShareClass2 2024-01-01 2024-12-31 13519271 d:OrdinaryShareClass2 2024-12-31 13519271 d:OrdinaryShareClass2 2023-12-31 13519271 d:FRS102 2024-01-01 2024-12-31 13519271 d:Audited 2024-01-01 2024-12-31 13519271 d:FullAccounts 2024-01-01 2024-12-31 13519271 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:WithinOneYear 2024-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:WithinOneYear 2023-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:BetweenOneFiveYears 2024-12-31 13519271 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:BetweenOneFiveYears 2023-12-31 13519271 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13519271 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 13519271 2 2024-01-01 2024-12-31 13519271 4 2024-01-01 2024-12-31 13519271 e:ShareCapital 2 2024-01-01 2024-12-31 13519271 e:ShareCapital 2 2023-01-01 2023-12-31 13519271 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13519271










OXCCU TECH LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
OXCCU TECH LTD
REGISTERED NUMBER: 13519271

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
1,217,014
-

Tangible assets
 6 
2,374,575
1,060,578

  Current assets
  

Stocks
 7 
-
504

Debtors: amounts falling due within one year
 8 
1,876,128
1,406,325

Cash at bank and in hand
 9 
11,640,366
16,594,914

  
13,516,494
18,001,743

Creditors: amounts falling due within one year
 10 
(482,871)
(1,711,415)

Net current assets
  
 
 
13,033,623
 
 
16,290,328

Total assets less current liabilities
  
16,625,212
17,350,906

  

Net assets
  
16,625,212
17,350,906


Capital and reserves
  

Called up share capital 
 11 
487
487

Share premium account
  
20,382,568
20,382,568

Other reserves
  
343,573
136,770

Profit and loss account
  
(4,101,416)
(3,168,919)

  
16,625,212
17,350,906


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: 


A A D Symes
Director

Date: 22 April 2025

The notes on pages 3 to 14 form part of these financial statements.
Page 1

 
OXCCU TECH LTD
 

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


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

£
£
£
£
£

At 1 January 2024
487
20,382,568
136,770
(3,168,919)
17,350,906



Loss for the year
-
-
-
(988,317)
(988,317)

Transfer to/from profit and loss account
-
-
(55,820)
55,820
-

Share-based payment charge
-
-
262,623
-
262,623


At 31 December 2024
487
20,382,568
343,573
(4,101,416)
16,625,212



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


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

£
£
£
£
£

At 1 January 2023
206
2,382,885
4,395
(797,157)
1,590,329



Loss for the year
-
-
-
(2,371,762)
(2,371,762)

Shares issued during the year
281
17,999,683
-
-
17,999,964

Share-based payment charge
-
-
132,375
-
132,375


At 31 December 2023
487
20,382,568
136,770
(3,168,919)
17,350,906


The notes on pages 3 to 14 form part of these financial statements.
Page 2

 
OXCCU TECH LTD
 

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

1.


General information

OXCCU Tech Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered office is Oxccu Oxford Airport, Hangar 15, Oxford, Oxfordshire, England, OX2 9PJ. Its principal place of business is Room 36, Centre for Innovation and Enterprise, Oxford University Begbroke Science Park, Begbroke Hill, Woodstock Road, Yarnton, OX15 1PF. The principal activity is research and experimental development on natural sciences and engineering.  

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

Going concern

The Company's net assets as at the 31 December 2024 were £16,625,212 (2023: £17,350,906) of which £11,640,366 was cash (2023: £16,595,115). As the Company is in a research and development phase it has recorded a loss in 2024 totalling £988,317 (2023: £2,371,762).
The Company has prepared forecasts and projections using what the directors believe to be reasonable assumptions relating to the Company's financial performance, current financial position and existing financial resources, for a period of at least 12 months from the date of signing of the financial statements which show the Company to be a going concern. These forecasts and projections show the Company to be a going concern based on current cash and borrowings.
Based on the above, the directors are of the opinion that the going concern principle is applicable and that the Company has the necessary resources to continue as a going concern for the foreseeable future.

Page 3

 
OXCCU TECH LTD
 

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

2.Accounting policies (continued)

 
2.3

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'.

 
2.4

Operating leases: the Company as lessee

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.

  
2.5

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 that the asset will generate probable future economic benefits and that its cost can be reliably measured.
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.

 
2.6

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.

Page 4

 
OXCCU TECH LTD
 

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

2.Accounting policies (continued)

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

 
2.9

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

The cumulative share based payment charges are recorded within the Share option reserve.

Page 5

 
OXCCU TECH LTD
 

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

2.Accounting policies (continued)

 
2.10

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.

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.


R&D tax credits under the SME scheme are presented within current tax. R&D tax credits under the RDEC scheme are presented as other operating income.

 
2.11

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


  
2.12

Intangible fixed assets

Development costs, where the related expenditure is separately identifiable and measurable, and management are satisfied as to the ultimate technical and commercial viability of the project and that the asset will generate future economic benefit based on all relevant available information, are recognised as an intangible asset. Capitalised development costs are carried at cost less accumulated amortisation and impairment losses. Amortisation is charged over periods expected to benefit, typically up to 20 years, commencing with launch of the product. Development costs not meeting the criteria for capitalisation are expensed as incurred.
Page 6

 
OXCCU TECH LTD
 

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

2.Accounting policies (continued)

 
2.13

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:

Leasehold improvements
-
20%
Plant and machinery
-
10%
Fixtures and fittings
-
33%
Laboratory equipment
-
20%
Computer equipment
-
33%
Assets under construction
-
not depreciated

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.

 
2.14

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.

 
2.15

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.

 
2.16

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.
Page 7

 
OXCCU TECH LTD
 

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

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The Company makes estimates and assumptions concerning the future and judgements in applying the Company's accounting policies. The resulting accounting estimates will, by definition, seldom equal the actual results. There were no estimates or assumptions that have caused a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.
Classification between intangible fixed assets and tangible fixed assets
Where costs are incurred in the development of proprietary technology a judgement is made as to whether the technology will be used to develop owned tangible fixed assets or will be licensed to third parties. Where the technology is expected to be used in developing owned tangible fixed assets the costs are treated as Assets Under Construction.  Where the technology is expected to be licensed to third parties the costs are treated as an intangible asset.


4.


Employees

2024
2023
£
£

Wages and salaries
1,748,738
958,122

Social security costs
167,399
89,873

Cost of defined contribution scheme
111,392
22,980

2,027,529
1,070,975


The average monthly number of employees, including directors, during the year was 22 (2023 - 12).

Page 8

 
OXCCU TECH LTD
 

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

5.


Intangible assets




In-process technology

£



Cost


Additions
1,217,014



At 31 December 2024

1,217,014






Net book value



At 31 December 2024
1,217,014



At 31 December 2023
-



Page 9

 
OXCCU TECH LTD
 

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

6.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures and fittings
Laboratory equipment
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 January 2024
181,350
-
202,391
772,597
28,523


Additions
305,501
484,520
70,060
599,452
38,224


Transfers between classes
-
202,159
25,549
(227,708)
-



At 31 December 2024

486,851
686,679
298,000
1,144,341
66,747



Depreciation


At 1 January 2024
9,621
-
25,739
83,175
5,748


Charge for the year
49,701
69,528
92,931
198,629
17,500



At 31 December 2024

59,322
69,528
118,670
281,804
23,248



Net book value



At 31 December 2024
427,529
617,151
179,330
862,537
43,499



At 31 December 2023
171,729
-
176,652
689,422
22,775
Page 10

 
OXCCU TECH LTD
 

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

           6.Tangible fixed assets (continued)


Assets under construction
Total

£
£



Cost or valuation


At 1 January 2024
-
1,184,861


Additions
244,529
1,742,286


Transfers between classes
-
-



At 31 December 2024

244,529
2,927,147



Depreciation


At 1 January 2024
-
124,283


Charge for the year
-
428,289



At 31 December 2024

-
552,572



Net book value



At 31 December 2024
244,529
2,374,575



At 31 December 2023
-
1,060,578


7.


Stocks

2024
2023
£
£

Inventory
-
504



8.


Debtors

2024
2023
£
£


Other debtors
489,514
786,461

Prepayments and accrued income
1,062,398
619,864

Tax recoverable
324,216
-

1,876,128
1,406,325


Page 11

 
OXCCU TECH LTD
 

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

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,640,366
16,594,914



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
253,798
259,726

Other taxation and social security
116,356
40,979

Other creditors
28,612
1,223,852

Accruals and deferred income
84,105
186,858

482,871
1,711,415



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,061,660 (2023 - 2,061,660) Ordinary shares of £0.0001 each
206
206
2,810,167 (2023 - 2,810,067) Series A Preference Shares shares of £0.0001 each
281
281

487

487


Page 12

 
OXCCU TECH LTD
 

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

12.


Share-based payments

During the 12 month period ended 31 December 2024, the Company issued equity settled share options under an Enterprise Management Incentive scheme. The options are subject to various vesting conditions and may not be exercised before the occurrence of an Exit Event.

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year

563

307,066

1,727
 
28,066
 
Granted during the year

446

48,000

446
 
279,000
 
Forfeited during the year

446

(55,000)

 
-
 
Outstanding at the end of the year
539

300,066

563
 
307,066
 

The Company have valued their share options based on the recent Series A funding round of £6.45 per share. The options are over ordinary shares and, therefore, the value has been discounted to take into account preference rights of the shares in issue. 
In 2022 the options were valued using the Black-Scholes model as follows:

2022

Option pricing model used


Black-Scholes

Weighted average share price (pence)


6.25

Exercise price (pence)


17.27

Weighted average contractual life (years)


4

Expected volatility


44.45%

Risk-free interest rate


3%


2024
2023
£
£


Equity-settled schemes
262,623
132,375


13.


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 £111,392 (2023: £22,980). included in other creditors. Contributions totalling £16,204 (2023: £Nil) were payable to the fund at the balance sheet date and are

Page 13

 
OXCCU TECH LTD
 

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

14.


Commitments under operating leases

At 31 December 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
65,114
9,764

Later than 1 year and not later than 5 years
156,227
-

221,341
9,764



15.


Related party transactions


Remuneration of Key Management Personnel was £406,161 (2023: £313,903).  

16.


Controlling party

In the opinion of the directors no one party is considered to be the ultimate controlling party of the Company. 


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 25 April 2025 by Michael Bath BSc FCA DChA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 14