Company registration number 08415762 (England and Wales)
The Oxford Health Company Ltd
Unaudited financial statements
For the period ended 31 August 2024
The Oxford Health Company Ltd
Contents
Page
Directors' report
1 - 2
Statement of financial position
3 - 4
Notes to the financial statements
5 - 12
The Oxford Health Company Ltd
Directors' report
For the period ended 31 August 2024
- 1 -

The directors present their annual report and financial statements for the period ended 31 August 2024.

Principal activities

The principal activity of the company continued to be that of production and retail of health supplements and vitamins.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr J E Allan
Mr T E G Humphrey
Mr P J Burrows

Business Review

The Oxford Health Company saw a significant increase in turnover during the extended accounting period, driven by the continued expansion of its white-label manufacturing operations and strong customer demand. Profit before tax decreased, reflecting strategic investment, inflationary pressures, and temporary margin adjustments to support long-term growth. The company ended the period with a solid net asset position, underlining its financial strength and resilience.

Principal Risks and Uncertainties

Financial Instruments

The company uses standard financial instruments, including trade receivables, trade payables, and cash balances, for operational purposes. It does not engage in speculative or complex instruments.

Liquidity Risk

The company maintained a strong cash position throughout the year and did not encounter any liquidity concerns.

Credit Risk

Credit exposure arises primarily from trade receivables, and is mitigated through customer credit checks, monitored trading terms, limited payment periods, and in many cases, up-front deposits.

Economic and Market Risks

The business operates in a competitive and price-sensitive market. Inflationary pressure on raw materials, packaging, energy, and freight could impact margins if not managed through procurement and pricing strategies.

Foreign Currency Risk

The company has moderate exposure to foreign currency risk, with both purchases and customer receipts transacted in non-GBP currencies. This exposure is primarily to EUR and USD, which are stable currencies and therefore not considered high risk; exchange rates are monitored regularly to ensure appropriate risk management.

Regulatory Risk

The company operates within a closely regulated industry. Changes to food supplement regulations in the UK or key export markets could affect product formulations, labelling, or claims.

The Oxford Health Company Ltd
Directors' report (continued)
For the period ended 31 August 2024
- 2 -
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr T E G Humphrey
Director
27 May 2025
The Oxford Health Company Ltd
Statement of financial position
As at 31 August 2024
31 August 2024
- 3 -
31 August 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,180
10,103
Tangible assets
4
588,102
748,119
Investments
5
19,400
-
0
615,682
758,222
Current assets
Stocks
2,332,051
2,001,286
Debtors
7
479,564
1,534,530
Cash at bank and in hand
1,696,892
774,117
4,508,507
4,309,933
Creditors: amounts falling due within one year
8
(3,204,018)
(2,874,708)
Net current assets
1,304,489
1,435,225
Total assets less current liabilities
1,920,171
2,193,447
Creditors: amounts falling due after more than one year
9
(412,071)
(529,537)
Provisions for liabilities
(132,500)
(144,900)
Net assets
1,375,600
1,519,010
Capital and reserves
Called up share capital
85
85
Capital redemption reserve
15
15
Profit and loss reserves
1,375,500
1,518,910
Total equity
1,375,600
1,519,010
The Oxford Health Company Ltd
Statement of financial position (continued)
As at 31 August 2024
31 August 2024
- 4 -

For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
Mr T E G Humphrey
Director
Company registration number 08415762 (England and Wales)
The Oxford Health Company Ltd
Notes to the financial statements
For the period ended 31 August 2024
- 5 -
1
Accounting policies
Company information

The Oxford Health Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

1.1
Reporting period

The financial statements presented are for the extended 18 month period ended 31 August 2024. The directors deemed it appropriate to extend the period end by 6 months to bring the period end in line with its parent company. The comparative information is for the year ended 28 February 2023 and therefore is not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102 1A being a member of a group. Details need not be given in respect to transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies
(Continued)
- 6 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
Ten years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
20% on cost
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
25% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in classic cars are initially measured at cost and subsequently measured at fair value through profit and loss. The investments are valued at each reporting year end and adjustments are recognised immediately in profit and loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and at bank.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies
(Continued)
- 7 -
1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, hire purchase contracts and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies
(Continued)
- 8 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
1
Accounting policies
(Continued)
- 9 -
1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
68
48
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 March 2023 and 31 August 2024
12,853
Amortisation and impairment
At 1 March 2023
2,750
Amortisation charged for the period
1,923
At 31 August 2024
4,673
Carrying amount
At 31 August 2024
8,180
At 28 February 2023
10,103
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
- 10 -
4
Tangible fixed assets
Improvements to property
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 March 2023
201,371
-
0
1,317,727
-
0
-
0
1,519,098
Additions
56,493
541,560
1,395
20,441
22,250
642,139
Disposals
(31,776)
(496,504)
-
0
-
0
-
0
(528,280)
Transfers
-
0
1,246,859
(1,309,769)
34,241
28,669
-
0
At 31 August 2024
226,088
1,291,915
9,353
54,682
50,919
1,632,957
Depreciation and impairment
At 1 March 2023
119,003
-
0
651,976
-
0
-
0
770,979
Depreciation charged in the period
54,173
310,721
2,808
11,817
9,892
389,411
Eliminated in respect of disposals
(470)
(115,065)
-
0
-
0
-
0
(115,535)
Transfers
-
0
617,737
(651,209)
21,856
11,616
-
0
At 31 August 2024
172,706
813,393
3,575
33,673
21,508
1,044,855
Carrying amount
At 31 August 2024
53,382
478,522
5,778
21,009
29,411
588,102
At 28 February 2023
82,368
-
0
665,751
-
0
-
0
748,119
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
19,400
-
0
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 March 2023
-
Additions
19,400
At 31 August 2024
19,400
Carrying amount
At 31 August 2024
19,400
At 28 February 2023
-
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
- 11 -
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
19,400
-
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
81,405
1,430,992
Amounts owed by group undertakings
263,518
-
0
Other debtors
134,641
103,538
479,564
1,534,530
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
39,167
49,315
Trade creditors
958,016
687,427
Taxation and social security
296,165
410,949
Other creditors
1,910,670
1,727,017
3,204,018
2,874,708
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
57,000
122,776
Other creditors
355,071
406,761
412,071
529,537
10
Secured debts

Included within bank loans is a CBILs loan of £95,000 (2023 - £152,000) which is secured by way of a fixed charge on all properties present and future, goodwill and uncalled capital and equipment, and a floating charge on the undertaking and all other property and assets of the Company.

 

Amounts due under finance leases and hire purchase contracts coming to a total of £551,785 (2023 - £562,511) are secured against the assets which they relate to.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the period ended 31 August 2024
- 12 -
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
132,500
144,900
2024
Movements in the period:
£
Liability at 1 March 2023
144,900
Credit to profit or loss
(12,400)
Liability at 31 August 2024
132,500

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

12
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

 

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr P J Burrows - Directors loan
2.25
-
7,689
(3,789)
3,900
-
7,689
(3,789)
3,900
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