25 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 404,216 420,191 824,407 80,843 80,843 743,564 404,216 xbrli:pure xbrli:shares iso4217:GBP 04571309 2024-01-01 2024-12-31 04571309 2024-12-31 04571309 2023-12-31 04571309 2023-01-01 2023-12-31 04571309 2023-12-31 04571309 2022-12-31 04571309 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 04571309 core:FurnitureFittings 2024-01-01 2024-12-31 04571309 bus:Director4 2024-01-01 2024-12-31 04571309 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 04571309 core:FurnitureFittings 2024-12-31 04571309 core:WithinOneYear 2024-12-31 04571309 core:WithinOneYear 2023-12-31 04571309 core:ShareCapital 2024-12-31 04571309 core:ShareCapital 2023-12-31 04571309 core:SharePremium 2024-12-31 04571309 core:SharePremium 2023-12-31 04571309 core:RetainedEarningsAccumulatedLosses 2024-12-31 04571309 core:RetainedEarningsAccumulatedLosses 2023-12-31 04571309 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04571309 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04571309 bus:Director1 2024-01-01 2024-12-31 04571309 bus:SmallEntities 2024-01-01 2024-12-31 04571309 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04571309 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04571309 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04571309 bus:FullAccounts 2024-01-01 2024-12-31 04571309 core:OfficeEquipment 2024-01-01 2024-12-31 04571309 core:OfficeEquipment 2023-12-31 04571309 core:OfficeEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 04571309
Oxford Risk Limited
Filleted Unaudited Financial Statements
31 December 2024
Oxford Risk Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Oxford Risk Limited
Statement of Financial Position
31 December 2024
2024
2023
(restated)
Note
£
£
Fixed assets
Intangible assets
5
743,564
404,216
Tangible assets
6
18,210
12,666
---------
---------
761,774
416,882
Current assets
Debtors
7
659,226
849,294
Cash at bank and in hand
583,524
334,797
------------
------------
1,242,750
1,184,091
Creditors: amounts falling due within one year
8
1,284,823
1,379,577
------------
------------
Net current liabilities
42,073
195,486
---------
---------
Total assets less current liabilities
719,701
221,396
---------
---------
Net assets
719,701
221,396
---------
---------
Capital and reserves
Called up share capital
5,956
5,956
Share premium account
469,532
469,532
Profit and loss account
244,213
( 254,092)
---------
---------
Shareholders funds
719,701
221,396
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oxford Risk Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 5 May 2025 , and are signed on behalf of the board by:
M A Quierin
Director
Company registration number: 04571309
Oxford Risk Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 21 ).
5. Intangible assets
Development costs
£
Cost
At 1 January 2024 (as restated)
404,216
Additions
Additions from internal developments
420,191
---------
At 31 December 2024
824,407
---------
Amortisation
Charge for the year
80,843
---------
At 31 December 2024
80,843
---------
Carrying amount
At 31 December 2024
743,564
---------
At 31 December 2023
404,216
---------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024 (as restated)
38,631
38,631
Additions
4,278
8,053
12,331
-------
--------
--------
At 31 December 2024
4,278
46,684
50,962
-------
--------
--------
Depreciation
At 1 January 2024
25,965
25,965
Charge for the year
71
6,716
6,787
-------
--------
--------
At 31 December 2024
71
32,681
32,752
-------
--------
--------
Carrying amount
At 31 December 2024
4,207
14,003
18,210
-------
--------
--------
At 31 December 2023
12,666
12,666
-------
--------
--------
7. Debtors
2024
2023
(restated)
£
£
Trade debtors
577,346
685,153
Other debtors
81,880
164,141
---------
---------
659,226
849,294
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Trade creditors
52,861
91,826
Corporation tax
11,737
11,737
Social security and other taxes
139,791
136,864
Other creditors
1,080,434
1,139,150
------------
------------
1,284,823
1,379,577
------------
------------
Within other creditors are liabilities of £1,037,650 (2023: £1,050,360) relating to payments in advance in respect of annual subscription agreements for software and services that do not require further development
9. Prior period adjustments
In the prior years financial statements, profit was understated by £404,216 due to not capitalising a proportion of salaries that relate to software development. This adjustment has increased fixed assets by £404,216 and profit by the same amount.