Registration number:
Ox Event House Ltd
For The Year Ended 31 October 2024
Ox Event House Ltd
(Registration number: 10994339)
Balance Sheet as at 31 October 2024
|
Note |
2024 |
2023 |
|||
|
Fixed assets |
|||||
|
Tangible assets |
|
|
|||
|
Current assets |
|||||
|
Debtors |
|
|
|||
|
Cash at bank and in hand |
|
|
|||
|
|
|
||||
|
Creditors: Amounts falling due within one year |
( |
( |
|||
|
Net current assets |
|
|
|||
|
Total assets less current liabilities |
|
|
|||
|
Creditors: Amounts falling due after more than one year |
( |
( |
|||
|
Provisions for liabilities |
( |
( |
|||
|
Net assets |
|
|
|||
|
Capital and reserves |
|||||
|
Called up share capital |
|
|
|||
|
Profit and loss account |
|
|
|||
|
Total equity |
|
|
|||
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
|
......................................... |
Ox Event House Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 October 2024
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
|
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.
The presentation currency is £ sterling.
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 value added tax.
The company recognises revenue when, the amount of revenue can be reliably measured and specific performance 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
Ox Event House Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 October 2024
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 |
|
Motor Vehicles |
25% Reducing Balance |
|
Office Equipment |
25% Straight Line |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity.
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.
Ox Event House Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 October 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.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Tangible assets |
|
Leasehold Improvements |
Office Equipment |
Motor vehicles |
Plant and Machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 November 2023 |
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
Disposals |
- |
- |
( |
- |
( |
|
At 31 October 2024 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 November 2023 |
- |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
|
At 31 October 2024 |
- |
|
|
|
|
|
Carrying amount |
|||||
|
At 31 October 2024 |
|
|
|
|
|
|
At 31 October 2023 |
|
|
|
|
|
Ox Event House Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 October 2024
|
Debtors |
|
Current |
2024 |
2023 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
|
Creditors |
|
2024 |
2023 |
|
|
Due within one year |
||
|
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
|
|
Due after one year |
||
|
Loans and borrowings |
|
|
Creditors include hire purchase contracts which are secured on the assets to which they relate of £121,965 (2023 - £39,746).
|
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
|
2024 |
2023 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
- |
|
145,140 |
25,140 |
Associated Company
During the year the company occupied a property owned by Ox Event House Property Ltd a company also controlled by the directors. There was no rent paid for this property.
At the year end the amount owed by Ox Event House Property Ltd to the company was £412,643 (2023 £412,643)