|
Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
COMPANY INFORMATION
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
CONTENTS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The annual report and financial statements presented here are for Oxford Investment Opportunity Network Limited (‘the Company’).
The principal activity of the Company during the year was the facilitation of investment into early-stage businesses.
Oxford Innovation Finance had another busy year which saw closure and deployment of its fourth EIS fund and launch of Fund 5, continued growth of our angel community, and the holding of 8 very well attended showcase events. Angel investment activity was negatively affected by the full gamut of geo-political uncertainty, coupled with nervousness about the world and UK economy and anxiety about the impact of inheritance tax, tariffs and wars on all asset markets. In spite of this backdrop, we were pleased that so many companies received investment from our Angels in 24/25.
In spite of the impact that both local and global economic instability is having on all investors , it is notable how many thrilling and promising young businesses continue to approach Oxford Innovation Finance for capital raising. This dichotomy highlights like never before how crucial our work matching the most promising early-stage companies to supportive investors is – whether through our fund or directly through angel investing activity. Fundraising commenced for the fifth EIS Fund in January 2025. We also hoped to raise out first SEIS Fund, but the economic backdrop was such that we focussed all efforts on maximising funds for the EIS Fund in order to ensure investors receive an appropriately diverse range of investments. Deployment of the first quarterly close of the EIS Fund began in early 25/26. The Board were pleased with the company’s resilience and response to the challenging economic conditions that have impacted investing decisions by individuals; in spite of external conditions, we have continued to grow our supportive Angel community, and are also delighted to be able to continue raising much needed early stage capital through another EIS fundraise. With additional work underway to enable us to support regional economic funds, and a system-upgrade being carried out next year to enhance investor-processes, the Board remain confident in the company’s longer-term prospects and the strength of its team. Turnover grew by 18.9% to £425,119 (2023/24: £357,441) of which £234,909 (2023/24: £195,020) was attributable directly to the Fund’s activities.
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Company is exposed to a variety of financial risks resulting from its operating activities. The board is responsible for determining the group’s financial risk management policy and focuses on securing the Company’s cash flows.
The Company does not actively engage in the trading of financial assets and has no financial derivatives. The most significant risks to which the Company is exposed to are described below: Credit Risk The Company’s credit risk is primarily attributable to its trade debtors. The amounts presented in the balance sheet are net of any allowance for doubtful debts, as estimated by the directors. The Company has no significant concentration of credit risk, with exposure spread over a large number of customers. Cash Flow Risk The Company seeks to manage risks to ensure sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility is achieved by Management actively monitoring future cash flow requirements on a regular basis. People risk The Company is at all times exposed to the risk that the most critical contributors among its people may decide to pursue other careers or paths. We would pay tribute to the establishment of a scheme for our leaders to become shareholders of the Company; this being a means of both aligning interests as well as ensuring a deepening of commitment by, and therefore retention of, our senior people. We pay careful attention through processes of salary adjustment, bonus awards, feedback and development in seeking to retain our key people. To date we feel satisfied with the outcomes achieved; however, this risk is one that requires constant attention.
Turnover for the year was £425,119 (2024: £357,441).
Gross profit for the year was £231,228, (2024: £186,935). Operating loss for the year was £18,003 (2024: £12,479). Cash at bank at 31 March 2025 was £59,059 (2024: £15,688). Net Current Assets were £422,821 as at 31 March 2025 (2024: £440,637).
The board of directors of Oxford Investment Opportunity Network Limited (trading as “Oxford Innovation Finance”) consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefits of all its stakeholders.
Although the company made a loss during the year under review, the directors consider this to be a short-term position and has been driven by external macro-economic conditions, as mentioned in the Business Review. This is not considered to be a long-term going concern risk and financial projections see this position reversing in the near future. Strong reserves and continued support from the wider SQW Group, to which the Company belongs, provide additional comfort. The Company has a long and distinguished history. Our low staff turnover reflects the continued commitment to achieving high staff satisfaction and we consider that our ongoing success in attracting impressive companies to pitch so effectively is a direct result of our team’s ability to deliver an expert, dedicated service of the highest quality. The Company is a socially responsible company. We make a great effort to consider the impact of our business practices on society and strive to ensure that what we do, and how we do it, is beneficial to our presenting companies, investor community, employees, business partners and the environment.
The Company does not currently monitor any non-financial performance indicators.
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
This report was approved by the board and signed on its behalf.
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors who served during the year were:
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £17,593 (2024 - loss £12,390).
The directors do not recommend a dividend for the year ended 31 March 2025 (2024: £Nil).
OI Finance plan to continue raising EIS funds and seek to grow its Fund Management capabilities, on the back of an emerging pattern of sound investment to date. Of equal importance is maintaining focus on attracting and supporting entrepreneurs with ambitious plans seeking to raise finance for growth and assisting our angel investor community as they make investments. The team will respond to market dynamics in its growth missions and expand when logical to do so in order to enable delivery of these objectives.
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
After the year end, the Company and their respective partnered nominee formally closed on Q1 of a separately administered fund valued at £672k. This will result in increased future activity.
The auditor, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 5
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
We have audited the financial statements of Oxford Investment Opportunity Network Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
Page 7
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows: • Enquiry of management and those charged with governance around actual and potential litigation and claims; • Enquiry of management and those charged with governance to identify any material instances of non- compliance with laws and regulations; • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; • Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
Page 8
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditor
201 Cumnor Hill
Cumnor
Oxfordshire
OX2 9PJ
Page 9
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
Page 10
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
REGISTERED NUMBER: 07719853
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 23 form part of these financial statements.
Page 11
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 12
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Oxford Investment Opportunity Network Limited is a private limited company incorporated in the UK and registered in England and Wales. The Company's registered office is Oxford Centre For Innovation, Blue Boar Court, 9 Alfred Street, Oxford, OX1 4EH.
The principal activity of the Company is the facilitation of investment into early stage businesses via the management of a business angel network and its own EIS Fund.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of the ultimate controlling company, SQW Group Newco 2018 Limited as at 31 March 2025 and these financial statements may be obtained from Oxford Centre for Innovation, Blue Boar Court, 9 Alfred Street, Oxford, OX1 4EH.
Although the Company made a loss during the year under review, the directors consider this to be a short-term position and has been driven by external macro-economic conditions, as mentioned in the Business Review. This is not considered to be a long-term going concern risk and financial projections see this position reversing in the near future. Strong reserves and continued support from the wider SQW Group, to which the Company belongs, provide additional comfort, as such, the directors consider it appropriate for the financial statements to be prepared on a going concern basis.
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
When annual management fees are due from positive fund returns, revenue is recognised in the period to which the fees relate when fund performance provides adequate assurance over the Company’s receipt of those fees. Annual remeasurement of such accrued fees is carried out based on latest fund valuations. When share options are issued to the Company in lieu of annual monitoring fees, revenue is calculated by measuring the fair value of the options using an option pricing model at the grant date as a financial instrument and recognising the revenue over the period in which the services are provided.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 14
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Basic 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 the deduction of all its liabilities.
Page 15
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Page 16
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Page 17
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Taxation Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and the level of future taxable profits, together with future planning strategies. Revenue Annual management fees that accrue to the Company based on future fund performance requires annual judgement about likely exit value, and therefore the amount of fund revenue that should be recognised in any given period is based on management’s best judgement of the likely outcome at the point of exit each year end. The latest fund valuations are used as the best indicator of such outcome. Financial instruments When share options are issued to the company in lieu of annual monitoring fees, revenue is calculated by measuring the fair value of the options as a financial instrument. At each year end, the financial instrument is revalued and any gains/losses are processed through the profit and loss account. The calculation of the fair value of the options at the grant date and each reporting date require estimation and judgement about the risk-free rate of return, the level of volatility in the stock, and the length of the period over which services are provided; all are reassessed on an annual basis.
Page 18
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
During the year, the Company had no employees other than the directors (2024: Nil). Included in the cost of sales figure are wage costs totalling £298,556 (2024: £236,959) for work carried out for the Company, which were recharged from another group company.
Page 19
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
9.Taxation (continued)
There were no factors that may affect future tax charges.
Page 20
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 21
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Share premium account
Capital redemption reserve
Profit & loss account
A prior year reclassification adjustment of £41,135 has been made to increase the Director emoluments disclosed in note 8 to correctly reflect the emolument value. This restatement does not have a profit impact.
Page 22
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
OXFORD INVESTMENT OPPORTUNITY NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,345 (2024: £5,874). At the year end, outstanding contributions totalled £Nil (2024: £Nil).
The immediate parent undertaking of the Company is
The ultimate controlling party is The consolidated statements of SQW Group Newco 2018 Limited and the financial statements of Oxford Investment Opportunity Network Limited are all publically available from Oxford Centre for Innovation, Blue Boar Court, 9 Alfred Street, Oxford, OX1 4EH.
Page 23
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||