Company No: 03467231 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	William George Miles
	Mark Bryan Thomas (Resigned 31 August 2025)

REGISTERED OFFICE	Ground Floor Keble House
	Southernhay Gardens
	Exeter
	EX1 1NT
	United Kingdom

COMPANY NUMBER

03467231 (England and Wales)

ACCOUNTANT	Gravita Western Limited
	Keble House
	Southernhay Gardens
	Exeter
	EX1 1NT
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	73,720		106,735
		73,720		106,735
Current assets
Stocks		2,077		2,500
Debtors	4	1,397,348		955,215
Cash at bank and in hand		16,468		21,321
		1,415,893		979,036
Creditors: amounts falling due within one year	5	( 1,307,185)		( 827,811)
Net current assets		108,708		151,225
Total assets less current liabilities		182,428		257,960
Creditors: amounts falling due after more than one year	6	( 9,000)		( 61,542)
Provision for liabilities		( 10,364)		( 26,684)
Net assets		163,064		169,734
Capital and reserves
Called-up share capital		100		100
Profit and loss account		162,964		169,634
Total shareholders' funds		163,064		169,734

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Oxford Trade Frames Limited (registered number: 03467231) were approved and authorised for issue by the Director on 26 August 2026. They were signed on its behalf by:

William George Miles Director

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

Oxford Trade Frames Limited (the Company) is a private company, limited by shares, 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 Ground Floor Keble House, Southernhay Gardens, Exeter, EX1 1NT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Plant and machinery etc.

25 % reducing balance

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 and cash and bank balances, 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.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	10		7

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 December 2024	305,844		305,844
Additions	23,575		23,575
Disposals	( 64,545)		( 64,545)
At 30 November 2025	264,874		264,874
Accumulated depreciation
At 01 December 2024	199,109		199,109
Charge for the financial year	27,447		27,447
Disposals	( 35,402)		( 35,402)
At 30 November 2025	191,154		191,154
Net book value
At 30 November 2025	73,720		73,720
At 30 November 2024	106,735		106,735

4. Debtors

	2025		2024
	£		£
Trade debtors	934,399		649,162
Amounts owed by Group undertakings	445,380		300,023
Other debtors	17,569		6,030
	1,397,348		955,215

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	32,879		123,513
Trade creditors	787,587		504,474
Amounts owed to associates	200,000		0
Taxation and social security	190,770		176,034
Obligations under finance leases and hire purchase contracts	19,663		19,663
Other creditors	76,286		4,127
	1,307,185		827,811

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		32,879
Obligations under finance leases and hire purchase contracts	9,000		28,663
	9,000		61,542

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
Within one year	32,500		32,500
Between one and five years	130,000		130,000
After five years	13,542		46,042
	176,042		208,542

8. Related party transactions

During the year there was a loan with a connected company. The amount owed to the company was £445,380 (2024: £300,023).

The loan is interest free and repayable on demand.

During the year there was a loan with a connected company. The amount owed by the company was £200,000 (2024: £nil).

The loan is interest free and repayable on demand.