Oxford Spires Management Co; Limited Company accounts

COMPANY REGISTRATION NUMBER: 02481354

Oxford Spires Management Co; Limited

Financial Statements

31 December 2024

Oxford Spires Management Co; Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Director's report	1

Independent auditor's report to the members	3

Statement of income and retained earnings	7

Statement of financial position	8

Statement of cash flows	9

Notes to the financial statements	10

Oxford Spires Management Co; Limited

Director's Report

Year ended 31 December 2024

The director presents his report and the financial statements of the company for the year ended 31 December 2024 .

Principal activities

The principal activity of the company during the year was the provision of property management services.

Directors

The directors who served the company during the year were as follows:

R A Andrés
P Smith	(Resigned 31 October 2024)

Dividends

The director does not recommend the payment of a dividend.

Future developments

The company provides estate management services to the occupiers of properties at Oxford Spires Business Park, The Boulevard, Kidlington, Oxford. Management anticipates that most of these services will be transferred to the tenants during the next 12 months, although this has already taken longer than anticipated. In the meantime, the company will continue to fulfill its obligations to tenants and suppliers and will operate as a going concern.

Director's responsibilities statement

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is 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 enable them to ensure that the financial statements comply with the Companies Act 2006. He is 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 9 September 2025 and signed on behalf of the board by:

R A Andrés
Director

Registered office:

40 Kimbolton Road

Bedford

MK40 2NR

Oxford Spires Management Co; Limited

Independent Auditor's Report to the Members of Oxford Spires Management Co; Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of Oxford Spires Management Co; Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its result for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 UK, including the FRC’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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the director's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We obtained an understanding of the legal and regulatory framework applicable to the company and how the company is complying with the framework. - We enquired of management about their own identification and assessment of risks of irregularities and reviewed the minutes of meetings of those charged with governance. - We considered the susceptibility of the financial statements to material misstatement, including how fraud might occur, and we obtained an understanding of the company's activities, the scope of its authorisation and the effectiveness of its control environment. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

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.

Andrew Robert Upton FCCA

(Senior Statutory Auditor)

For and on behalf of

Collett Hulance Accountants Limited

Chartered Certified Accountants & Statutory Auditor

40 Kimbolton Road

Bedford

MK40 2NR

9 September 2025

Oxford Spires Management Co; Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	38,105	55,458

Cost of sales	24,321	30,064
	--------	--------
Gross profit	13,784	25,394

Administrative expenses	13,784	25,394

	--------	--------
Profit before taxation	–	–

Tax on profit	–	–
	----	----
Result for the financial year and total comprehensive income	–	–
	----	----

Retained earnings at the start of the year	–	–

All the activities of the company are from continuing operations.

Oxford Spires Management Co; Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Current assets

Debtors	7	76,890		60,477

Creditors: amounts falling due within one year	8	76,756		60,343
		--------		--------
Net current assets			134	134
			----	----
Total assets less current liabilities			134	134
			----	----
Net assets			134	134
			----	----

Capital and reserves

Called up share capital	10	134	134
		----	----
Shareholders funds		134	134
		----	----

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

These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

R A Andrés
Director

Company registration number: 02481354

Oxford Spires Management Co; Limited

Statement of Cash Flows

Year ended 31 December 2024

	2024	2023
	£	£
Net decrease in cash and cash equivalents	–	–
Cash and cash equivalents at beginning of year	–	–
	----	----
Cash and cash equivalents at end of year	–	–
	----	----

Oxford Spires Management Co; Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

There are no significant judgements, estimates or assumptions made by the directors in the preparation of these financial statements.

Revenue recognition

Service charge income received is matched with relevant expenditure and any excess deferred and matched with expenditure in the next accounting period. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of services	38,105	55,458
	--------	--------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	3,408	3,036
	-------	-------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	1,440	1,350
	-------	-------

6. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2024	2023
	No.	No.
Production staff	1	1
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	13,724	15,282
Social security costs	828	1,216
Other pension costs	1,718	652
	--------	--------
	16,270	17,150
	--------	--------

7. Debtors

	2024	2023
	£	£
Other debtors	76,890	60,477
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	5,441	4,093
Accruals and deferred income	14,856	14,854
Other creditors	56,459	41,396
	--------	--------
	76,756	60,343
	--------	--------

9. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 1,718 (2023: £ 652 ).

10. Called up share capital

Authorised share capital

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	134	134	134	134
	----	----	----	----

11. Analysis of changes in net debt

At 1 Jan 2024	Cash flows	At 31 Dec 2024
£	£	£

12. Controlling party

The company's immediate parent is Fortescue Zero Limited. The ultimate parent is Fortescue WAE Pty Ltd , a company registered in Australia.