Oxford Healthtech Ltd. - Period Ending 2022-12-31

Oxford Healthtech Ltd.

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Oxford Healthtech Ltd.

(Registration number: 11721747)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	3,072	3,091
Current assets
Debtors	5	73,339	54,514
Cash at bank and in hand		90,756	35,062
		164,095	89,576
Creditors: Amounts falling due within one year	6	(266,874)	(104,599)
Net current liabilities		(102,779)	(15,023)
Net liabilities		(99,707)	(11,932)
Capital and reserves
Called up share capital		150	150
Share premium reserve		59,950	59,950
Retained earnings		(159,807)	(72,032)
Shareholders' deficit		(99,707)	(11,932)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 July 2023 and signed on its behalf by:
 

......................................... S E Huq Director

Oxford Healthtech Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The directors believe the going concern basis to be appropriate by virtue of the continued support of the directors and shareholders and through grant funding which will help to support the company in relation to its ongoing expenditure.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for professional, scientific and technical activies. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% reducing balance

Oxford Healthtech Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

Oxford Healthtech Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 January 2022	4,258	4,258
Additions	666	666
At 31 December 2022	4,924	4,924
Depreciation
At 1 January 2022	1,167	1,167
Charge for the year	685	685
At 31 December 2022	1,852	1,852
Carrying amount
At 31 December 2022	3,072	3,072
At 31 December 2021	3,091	3,091

5

Debtors

Current	2022 £	2021 £
Other debtors	73,339	54,514

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	4,290	593
Taxation and social security	4,918	4,012
Other creditors	257,666	99,994
	266,874	104,599

Oxford Healthtech Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7	Related party transactions

Other transactions with directors

S E Huq and M Y Al Aioubi are directors of the company, as at year end the company owed them £18,377 (2021: £18,377).

Summary of transactions with other related parties

At the balance sheet date the company owed £235,014 (2021: £79,703) to a shareholder in relation for an interest free loan provided to the company.