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Registration number: 07267439

Retail Oxygen Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Retail Oxygen Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Retail Oxygen Ltd

Company Information

Directors

Mr David Geoffrey Sleigh

Mrs Emma Louise Emma Sleigh

Registered office

Perrymeade Blackmoor
West Buckland
Wellington
Somerset
TA21 9LH

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Retail Oxygen Ltd

(Registration number: 07267439)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

         

Fixed assets

   

Tangible assets

4

 

15,000

-

Current assets

   

Debtors

6

100,000

 

21,900

Investments

7

1

 

-

Cash at bank and in hand

 

82,178

 

97,399

 

182,179

 

119,299

Creditors: Amounts falling due within one year

8

(87,813)

 

(14,526)

Net current assets

   

94,366

104,773

Total assets less current liabilities

   

109,366

104,773

Provisions for liabilities

 

5,019

-

Net assets

   

114,385

104,773

Capital and reserves

   

Called up share capital

100

 

100

Retained earnings

114,285

 

104,673

Shareholders' funds

   

114,385

104,773

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 May 2025 and signed on its behalf by:
 

 

Retail Oxygen Ltd

(Registration number: 07267439)
Balance Sheet as at 31 January 2025

.........................................

Mrs Emma Louise Emma Sleigh
Director

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Perrymeade Blackmoor
West Buckland
Wellington
Somerset
TA21 9LH

These financial statements were authorised for issue by the Board on 18 May 2025.

2

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current and deferred 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.

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.

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are 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

Motor Vehicles

25% Reducing Balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 0).

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

15,000

15,000

At 31 January 2025

15,000

15,000

Depreciation

Carrying amount

At 31 January 2025

15,000

15,000

5

Investments

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2024

Joint ventures

IGUKRO Ltd

Perrymeade Blackmoor
West Buckland
Wellington
TA21 9LH

Ordinary Share

50%

0%

England

Joint ventures

IGUKRO Ltd

The principal activity of IGUKRO Ltd is opening of art galleries under the Iris Galerie brand and franchise management.

6

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

9

100,000

-

Other debtors

 

-

21,900

   

100,000

21,900

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Current asset investments

2025
£

2024
£

Shares in group undertakings

1

-

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

818

-

Taxation and social security

17,676

-

Accruals and deferred income

1,200

720

Other creditors

68,119

13,806

87,813

14,526

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Director's Loan Account

(13,806)

31,000

(85,313)

(68,119)

 

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Director's Loan Account

66,805

389

(81,000)

(13,806)

 

Summary of transactions with joint ventures

IGUKRO Ltd

Retail Oxygen holds 50% of the Shareholding in IGUKRO Ltd
Service agreement is in place for Retail Oxygen to provide Consultancy services to the Joint Venture (JV).
Providing Capital to the JV

Management charges to cover the provision of services by Retail Oxygen Ltd.
The initial duration of the JV is 4 years

Income and receivables from related parties

2025

Joint ventures
£

Receipt of services

87,833

Loans to related parties

 

Joint ventures

Key management

2025
£

2025
£

At start of period

-

(13,806)

Advanced

100,000

31,000

Repaid

-

(24,001)

At end of period

100,000

(6,807)

Terms of loans to related parties

 

Retail Oxygen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

At the balance sheet date the company was owed £100,000 from the joint venture IGUKRO. The loan to IGUKRO Ltd is interest free and repayable within the 4 year initial period of the joint venture.
 
At the balance sheet date the loan from Directors to the company was £6,807 (2024 £13,806) This loan has no fixed term and is repayable on demand.