Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr L G Fouweather 02/03/2019 Mr K E Howlett 13/01/2025 Mr C L Kelland 07/03/2020 Mr D J Mulford 16/05/1996 10 July 2025 The principal activity of the company continued to be that of model engineering. 03199916 2024-10-31 03199916 bus:Director1 2024-10-31 03199916 bus:Director2 2024-10-31 03199916 bus:Director3 2024-10-31 03199916 bus:Director4 2024-10-31 03199916 2023-10-31 03199916 core:CurrentFinancialInstruments 2024-10-31 03199916 core:CurrentFinancialInstruments 2023-10-31 03199916 core:FurtherSpecificReserve3ComponentTotalEquity 2024-10-31 03199916 core:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 03199916 core:RetainedEarningsAccumulatedLosses 2024-10-31 03199916 core:RetainedEarningsAccumulatedLosses 2023-10-31 03199916 core:LandBuildings 2023-10-31 03199916 core:OtherPropertyPlantEquipment 2023-10-31 03199916 core:LandBuildings 2024-10-31 03199916 core:OtherPropertyPlantEquipment 2024-10-31 03199916 2023-11-01 2024-10-31 03199916 bus:FilletedAccounts 2023-11-01 2024-10-31 03199916 bus:SmallEntities 2023-11-01 2024-10-31 03199916 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 03199916 bus:CompanyLimitedByGuarantee 2023-11-01 2024-10-31 03199916 bus:Director1 2023-11-01 2024-10-31 03199916 bus:Director2 2023-11-01 2024-10-31 03199916 bus:Director3 2023-11-01 2024-10-31 03199916 bus:Director4 2023-11-01 2024-10-31 03199916 core:LandBuildings core:TopRangeValue 2023-11-01 2024-10-31 03199916 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-11-01 2024-10-31 03199916 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 03199916 2022-11-01 2023-10-31 03199916 core:LandBuildings 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Company No: 03199916 (England and Wales)

CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
DIRECTORS Mr L G Fouweather
Mr K E Howlett (Appointed 13 January 2025)
Mr C L Kelland
Mr D J Mulford
SECRETARY Mr C L Kelland
REGISTERED OFFICE 55 Portland Road
Summertown
Oxford
OX2 7EZ
United Kingdom
COMPANY NUMBER 03199916 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2024
CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 194,883 195,705
194,883 195,705
Current assets
Stocks 4 250 3,353
Debtors 5 1,408 1,340
Cash at bank and in hand 6 31,883 28,354
33,541 33,047
Creditors: amounts falling due within one year 7 ( 4,627) ( 3,466)
Net current assets 28,914 29,581
Total assets less current liabilities 223,797 225,286
Provision for liabilities ( 25,529) ( 23,867)
Net assets 198,268 201,419
Reserves
Undistributable reserve 81,194 83,012
Retained earnings 117,074 118,407
Total reserves 198,268 201,419

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of City of Oxford Society of Model Engineers Limited (registered number: 03199916) were approved and authorised for issue by the Board of Directors on 10 July 2025. They were signed on its behalf by:

Mr D J Mulford
Director
CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
CITY OF OXFORD SOCIETY OF MODEL ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

City of Oxford Society of Model Engineers Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 55 Portland Road, Summertown, Oxford, OX2 7EZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 4 years straight line
Plant and machinery etc. 35 years straight line
20 % reducing balance

The breakdown of Plant and machinery etc. is as follows:

Track – Straight-line basis over 35 years
Rolling stock – Straight-line basis over 35 years
Equipment – Reducing balance basis at 20% per annum

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2023 145,290 145,227 290,517
Additions 0 9,569 9,569
At 31 October 2024 145,290 154,796 300,086
Accumulated depreciation
At 01 November 2023 41,656 53,156 94,812
Charge for the financial year 5,811 4,580 10,391
At 31 October 2024 47,467 57,736 105,203
Net book value
At 31 October 2024 97,823 97,060 194,883
At 31 October 2023 103,634 92,071 195,705

4. Stocks

2024 2023
£ £
Stocks 250 3,353

5. Debtors

2024 2023
£ £
Prepayments 1,408 1,340

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 31,883 28,354

7. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,572 2,050
Taxation and social security 99 1,416
Other creditors 1,956 0
4,627 3,466

8. Liability of members

The members of the City of Oxford Society of Model Engineers Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.