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Registration number: 07024542

Oxford Aerials Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Oxford Aerials Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 9

 

Oxford Aerials Limited

(Registration number: 07024542)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

28,916

38,692

Investment property

7

350,000

350,000

 

378,916

388,692

Current assets

 

Stocks

8

13,160

14,155

Debtors

9

26,285

57,177

Cash at bank and in hand

 

64,000

40,873

 

103,445

112,205

Creditors: Amounts falling due within one year

10

(92,046)

(99,025)

Net current assets

 

11,399

13,180

Total assets less current liabilities

 

390,315

401,872

Provisions for liabilities

(12,222)

(14,743)

Net assets

 

378,093

387,129

Capital and reserves

 

Called up share capital

11

100

100

Revaluation reserve

14,979

14,979

Retained earnings

363,014

372,050

Shareholders' funds

 

378,093

387,129

For the financial 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.


Director s' 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 and 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 3 June 2025 and signed on its behalf by:
 

.........................................
Mr S P Guard
Director

 

Oxford Aerials Limited

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
First Floor
Wyndham House
Lester Way
Wallingford
Oxfordshire
OX10 9TD

These financial statements were authorised for issue by the Board on 3 June 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

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.

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Plant and machinery

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

9,606

12,898

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

50,000

50,000

At 31 December 2024

50,000

50,000

Amortisation

At 1 January 2024

50,000

50,000

At 31 December 2024

50,000

50,000

Carrying amount

At 31 December 2024

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

17,056

83,275

100,331

Additions

780

-

780

Disposals

-

(9,495)

(9,495)

At 31 December 2024

17,836

73,780

91,616

Depreciation

At 1 January 2024

9,592

52,047

61,639

Charge for the year

2,061

7,544

9,605

Eliminated on disposal

-

(8,544)

(8,544)

At 31 December 2024

11,653

51,047

62,700

Carrying amount

At 31 December 2024

6,183

22,733

28,916

At 31 December 2023

7,464

31,228

38,692

7

Investment properties

2024
£

At 1 January

350,000

At 31 December

350,000

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

There has been no valuation of investment property by an independent valuer.

8

Stocks

2024
£

2023
£

Raw materials and consumables

10,000

10,000

Work in progress

3,160

4,155

13,160

14,155

9

Debtors

2024
£

2023
£

Trade debtors

18,310

47,287

Prepayments

2,294

-

Other debtors

5,681

9,890

26,285

57,177

 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,442

9,468

Taxation and social security

50,434

50,795

Accruals and deferred income

3,069

2,612

Other creditors

33,101

36,150

92,046

99,025

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

12

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Surplus/deficit on property, plant and equipment revaluation

14,979

(14,979)

13

Dividends

2024

2023

£

£

Interim dividend of £722.17 (2023 - £717.39) per ordinary share

72,217

71,739

 

 
 

Oxford Aerials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

14

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

17,176

12,924