Oxbridge Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05081206 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

OXBRIDGE ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

B J Funnell

REGISTERED OFFICE:

1 Winnall Valley Road

Winchester

Hampshire

SO23 0LD

REGISTERED NUMBER:

05081206 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

FIXED ASSETS

Tangible assets

4

48,690

161,892

Investments

5

205,495

205,495

254,185

367,387

CURRENT ASSETS

Debtors

6

679,553

288,368

Cash at bank

663,098

109,785

1,342,651

398,153

CREDITORS

Amounts falling due within one year

7

787,829

61,187

NET CURRENT ASSETS

554,822

336,966

TOTAL ASSETS LESS CURRENT LIABILITIES

809,007

704,353

CREDITORS

Amounts falling due after more than one year

8

-

(94,621

)

PROVISIONS FOR LIABILITIES

-

(819

)

NET ASSETS

809,007

608,913

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

808,907

608,813

809,007

608,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2021 and were signed by:

B J Funnell - Director

1.	STATUTORY INFORMATION

Oxbridge Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Freehold Property - 10% straight line

Equipment - 25% reducing balance

Motor Vehicles - 25% straight line

The gain or loss arising on the disposal of an asset is determined as the different between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Financial instruments

The Company only enters into financial instruments transactions that result in recognition of financial assets and liabilities like trade and other debtors and creditors.

Short term debtors and creditors are recognised at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Foreign currencies

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is recognised in other comprehensive income.

Fixed asset investments

Fixed asset investments are initially measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised in the profit and loss.

Hire purchase and leasing commitments

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

47,736

180,169

227,905

Additions

-

191,306

191,306

Disposals

(47,736

)

(313,827

)

(361,563

)

At 31 March 2021

-

57,648

57,648

DEPRECIATION

At 1 April 2020

12,579

53,434

66,013

Charge for year

2,363

52,823

55,186

Eliminated on disposal

(14,942

)

(97,299

)

(112,241

)

At 31 March 2021

-

8,958

8,958

NET BOOK VALUE

At 31 March 2021

-

48,690

48,690

At 31 March 2020

35,157

126,735

161,892

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2020

and 31 March 2021

205,495

NET BOOK VALUE

At 31 March 2021

205,495

At 31 March 2020

205,495

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

247,197

-

Amounts owed by participating interests

271,180

277,180

Other debtors

61,176

11,188

579,553

288,368

2021

2020

£

£

Amounts falling due after more than one year:

Other debtors

100,000

-

Aggregate amounts

679,553

288,368

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

-

24,399

Trade creditors

-

3,260

Taxation and social security

55,359

29,228

Other creditors

732,470

4,300

787,829

61,187

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

-

94,621

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Hire purchase contracts

-

119,020

The above hire purchase contracts are secured on the asset in which they relate.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

B J Funnell

Balance outstanding at start of year

11,186

3,963

Amounts advanced

40,394

608,795

Amounts repaid

(767,186

)

(601,572

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(715,606

)

11,186

The loan is repayable on demand. When the loan is in credit note interest is paid to the director. When the loan is overdrawn interest is payable to the company at the HMRC official rate of interest

11.	RELATED PARTY DISCLOSURES

Amounts owed by related parties

Oxbridge Property Associates Limited

A company in which Mr B Funnell is a director

As at the balance sheet date the amount owed by Oxbridge Property Associates Limited was £138,680 (2020: £138,680)

Purbeck Supported Living Limited

A company in which Mr B Funnell is a shareholder

As at the balance sheet date the amount owed by Purbeck Supported Living Limited was £132,500 (2020: £132,500)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oxbridge Associates Limited for the year ended 31 March 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Oxbridge Associates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oxbridge Associates Limited and state those matters that we have agreed to state to the director of Oxbridge Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oxbridge Associates Limited and its director for our work or for this report.

It is your duty to ensure that Oxbridge Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oxbridge Associates Limited. You consider that Oxbridge Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oxbridge Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

23 September 2021