ACCOUNTS - Final Accounts preparation

OXFORD MARKETING ASSOCIATES LIMITED - Company Information

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Registered number: 06861957

OXFORD MARKETING ASSOCIATES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

OXFORD MARKETING ASSOCIATES LIMITED

REGISTERED NUMBER: 06861957

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		4,315		-
			4,315		-
Current assets
Debtors: amounts falling due within one year	5	1,969		-
Cash at bank and in hand	6	27,138		19,825
		29,107		19,825
Creditors: amounts falling due within one year	7	(218,303)		(198,294)
Net current liabilities			(189,196)		(178,469)
Total assets less current liabilities			(184,881)		(178,469)

Net liabilities			(184,881)		(178,469)

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OXFORD MARKETING ASSOCIATES LIMITED

REGISTERED NUMBER: 06861957

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

	2022	2021
Note	£	£

Capital and reserves
Called up share capital	100	100
Profit and loss account	(184,981)	(178,569)
	(184,881)	(178,469)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 March 2023.

Andrew James Robinson

Director

The notes on pages 3 to 6 form part of these financial statements.

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OXFORD MARKETING ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

Oxford Marketing Associates Limited is a company limited by shares which was incorporated in England.
The registered office of the business is:
2 Michaels Court
Hanney Road
Southmoor
Oxon
OX13 5HR
The company's principal activity is marketing consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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OXFORD MARKETING ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

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:

Office equipment

33% Straight Line

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.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

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OXFORD MARKETING ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2021	7,548
	Additions	4,590
	At 31 March 2022	12,138
	Depreciation
	At 1 April 2021	7,548
	Charge for the year on owned assets	275
	At 31 March 2022	7,823
	Net book value
	At 31 March 2022	4,315
	At 31 March 2021	-

Debtors

					2022	2021
					£	£


Trade debtors	1,969	-
	1,969	-

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	27,138	19,826
	27,138	19,826

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OXFORD MARKETING ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	3,408	1,968
Other taxation and social security	1,058	514
Other creditors	211,837	193,812
Accruals and deferred income	2,000	2,000
	218,303	198,294

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