Company Registration No. 13233823 (England and Wales)
Droxford Management Limited
Unaudited financial statements
for the period ended 31 March 2025
Pages for filing with the registrar
Droxford Management Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Droxford Management Limited
Statement of financial position
As at 31 March 2025
1
31 March 2025
30 September 2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
-
0
1,862
Creditors: amounts falling due within one year
3
-
0
(42,186)
Net current liabilities
-
0
(40,324)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1)
(40,325)
Total equity
-
0
(40,324)

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

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 12 June 2025 and are signed on its behalf by:
Julia Mathias
Timothy Pearson-Burton
Director
Director
Company Registration No. 13233823
Droxford Management Limited
Notes to the financial statements
For the period ended 31 March 2025
2
1
Accounting policies
Company information

Droxford Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is One Glass Wharf, Bristol, BS2 0ZX.

1.1
Reporting period

This period of accounts covers the 18 month period 1 September 2023 to 31 March 2025. Therefore, the comparative amounts presented in the financial statement (including the related notes) are not entirely comparable. The year end has been extended to cover the final period of trading, the company ceased to trade on 17 March 2025.

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.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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, 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.

Droxford Management Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
3
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.5
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.

2
Employees

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

2025
2023
Number
Number
Total
3
3
3
Creditors: amounts falling due within one year
2025
2023
£
£
Amounts owed to group undertakings
-
0
41,266
Taxation and social security
-
0
370
Other creditors
-
0
550
-
0
42,186
4
Related party transactions

As at 31 March 2025 the company owed Droxford Properties Limited £0 (2023 : £39866). The loan was interest free. During the period £50,933 (2023: £Nil)) was written off in the profit and loss.

 

 

Droxford Management Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
4
5
Parent company

The Parent undertaking is Onjet International Co. Inc. The company has taken advantage of the exemptions in FRS 102 from disclosing transactions with wholly owned members of Onjet International Co. Inc.

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