Oxford Conversis Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04580340 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Oxford Conversis Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A M Muddyman

G J Muddyman

W F Muddyman

J P Larbey

SECRETARY:

J P Larbey

REGISTERED OFFICE:

Howard House

70 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

04580340 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

4

71,072

61,617

CURRENT ASSETS

Debtors

5

747,239

1,285,214

Cash at bank

331,171

102,617

1,078,410

1,387,831

CREDITORS

Amounts falling due within one year

6

693,654

763,950

NET CURRENT ASSETS

384,756

623,881

TOTAL ASSETS LESS CURRENT LIABILITIES

455,828

685,498

PROVISIONS FOR LIABILITIES

8,169

4,950

NET ASSETS

447,659

680,548

CAPITAL AND RESERVES

Called up share capital

8

100,000

100,000

Retained earnings

347,659

580,548

SHAREHOLDERS' FUNDS

447,659

680,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 29 September 2017 and were signed on its behalf by:

A M Muddyman - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents the net invoiced value of services provided, excluding value added tax, and is recognised on

completion of services provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

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 statement of financial position date.

Deferred tax

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

statement of financial position 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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2015 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2016

49,250

164,526

213,776

Additions

7,938

47,279

55,217

At 31 December 2016

57,188

211,805

268,993

DEPRECIATION

At 1 January 2016

32,318

119,841

152,159

Charge for year

6,090

39,672

45,762

At 31 December 2016

38,408

159,513

197,921

NET BOOK VALUE

At 31 December 2016

18,780

52,292

71,072

At 31 December 2015

16,932

44,685

61,617

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

344,206

608,544

Taxation receivable

6,372

-

Prepayments and accrued income

396,661

676,670

747,239

1,285,214

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

154,731

279,444

Amounts owed to group undertakings

309,199

184,858

Taxation

-

23,218

Social security and other taxes

76,335

124,311

Directors' current accounts

329

278

Accruals and deferred income

153,060

151,841

693,654

763,950

Balances due to the ultimate parent undertaking Ruxley Holdings Limited are secured by fixed and floating

charges over the undertaking and all property and assets present and future including goodwill, book debts,

uncalled capital buildings, fixtures, fixed plant and machinery.

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Balance due to ultimate parent

309,199

184,858

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

50,000

Ordinary

£1

50,000

50,000

21,429

Convertible

£1

21,429

21,429

28,571

Deferred

£1

28,571

28,571

100,000

100,000

The convertible shares rank equally with the ordinary shares. According to the Articles of Association, when the

company achieves a profit before corporation tax and exceptional items for two successive quarters, 28,571

convertible shares will be converted to deferred shares. On 7 August 2013 the company passed a Special

Resolution re-designating 28,571 Convertible Shares of £1 each into 28,571 Deferred Shares of £1 each.

Deferred shares have no right to a dividend or to vote at a general meeting.

On a winding up, the available assets of the company would be applied in the following order of priority;

payment to the holders of ordinary, convertible and deferred shares; the nominal value of the shares pro rata to

the nominal value paid up; payment of any remaining assets to the holders of ordinary shares pro rata to the

nominal value paid up.

9.	CONTINGENT LIABILITIES

The company is included in a group registration for VAT purposes and is therefore jointly and severally liable

for all other group companies' unpaid debts in this connection. At 31 December 2016, the other companies' VAT

balances resulted in a net liability of £45,872 (2015; net liability £99,824).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

G J Muddyman

Balance outstanding at start of year

-

-

Amounts advanced

9,171

-

Amounts repaid

(9,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(329

)

-

The maximum amount owed to the company by GJ Muddyman during the year was £9,171. The loan is interest

free with no fixed repayment terms.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £44,500 (2015 - £28,000) were paid to the directors .

During the year the parent company, Ruxley Holdings Limited, charged the company £111,767 (2015 -

£111,556) for accounting and IT services.

During the year the company paid a dividend of £133,500 (2015 - £84,000) to Ruxley Holdings Limited.

Included in creditors at 31 December 2016 is an amount of £309,199 (2015 - £184,858) due to Ruxley Holdings

Limited.

12.	ULTIMATE CONTROLLING PARTY