OXFORD WAVE RESEARCH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2026
Company Registration Number: 07492663
OXFORD WAVE RESEARCH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
OXFORD WAVE RESEARCH LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2026
DIRECTORS
Anil Alexander
Oscar Forth
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Sandford Gate
East Point Business Park
Sandy Lane West
Oxford
OX4 6LB
COMPANY REGISTRATION NUMBER
07492663 England and Wales
OXFORD WAVE RESEARCH LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2026
Notes 2026 2025
£ £
FIXED ASSETS
Tangible assets 5 14,986 12,420
CURRENT ASSETS
Debtors 6 177,854 133,073
Cash at bank and in hand 783,096 678,955
960,950 812,028
CREDITORS: Amounts falling due within one year 7 297,776 231,742
NET CURRENT ASSETS 663,174 580,286
TOTAL ASSETS LESS CURRENT LIABILITIES 678,160 592,706
Provisions for liabilities and charges 3,462 3,105
NET ASSETS 674,698 589,601
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 674,598 589,501
SHAREHOLDERS' FUNDS 674,698 589,601
OXFORD WAVE RESEARCH LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2026
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Anil Alexander Oscar Forth
Director Director
Date approved by the board: 29 October 2026
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
1 GENERAL INFORMATION
Oxford Wave Research Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
Sandford Gate Bagley Croft
East Point Business Park Hinksey Hill
Sandy Lane West Oxford
Oxford OX1 5BS
OX4 6LB
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of software development services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Straight line basis at 33.33% per annum
Software Straight line basis at 33.33% per annum
Office equipment Straight line basis at 20% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
Research and development
Expenditure on research is written off against profits in the year in which it is incurred.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2026 2025
Average number of employees 9 9
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
5 TANGIBLE ASSETS
Plant and machinery Software Office equipment Total
£ £ £ £
Cost
At 1 February 2025 42,421 2,706 2,104 47,231
Additions 12,020 - - 12,020
Disposals (2,584) - - (2,584)
At 31 January 2026 51,857 2,706 2,104 56,667
Accumulated depreciation and impairments
At 1 February 2025 31,072 2,706 1,033 34,811
Charge for year 8,604 - 347 8,951
Disposals (2,081) - - (2,081)
At 31 January 2026 37,595 2,706 1,380 41,681
Net book value
At 1 February 2025 11,349 - 1,071 12,420
At 31 January 2026 14,262 - 724 14,986
6 DEBTORS
2026 2025
£ £
Trade debtors 42,750 14,523
Prepayments and accrued income 3,372 1,650
Other debtors 131,732 116,900
177,854 133,073
7 CREDITORS: Amounts falling due within one year
2026 2025
£ £
Trade creditors 20,696 26,279
Taxation and social security 32,429 24,898
Accruals and deferred income 178,588 105,943
Other creditors 66,063 74,622
297,776 231,742
Included within accruals and deferred income is deferred income totalling £176,343 (2025: £103,696).
OXFORD WAVE RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
8 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2026 2025
£ £
In less than one year 2,500 2,500
9 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year:
Balance at 1 February 2025 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 January 2026
£ £ £ £ £
Anil Alexander - 3,364 312 - 3,052
This advance is interest free and repayable on demand.
10 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
2026 2025
£ £
A Alexander Director The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: - 6,713
O Forth Director The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: 62,453 55,478
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