| Oxford Experience Limited |
| Registered number: |
02186395 |
| Abridged Balance Sheet |
| as at 30 April 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
24,924 |
|
|
36,194 |
| Investments |
4 |
|
|
41,002 |
|
|
41,002 |
|
|
|
|
65,926 |
|
|
77,196 |
|
| Current assets |
| Stocks |
|
|
113,338 |
|
|
154,223 |
| Debtors |
|
|
303,816 |
|
|
303,369 |
| Cash at bank and in hand |
|
|
15,791 |
|
|
7,467 |
|
|
|
432,945 |
|
|
465,059 |
|
| Creditors: amounts falling due within one year |
|
|
(87,153) |
|
|
(129,607) |
|
| Net current assets |
|
|
|
345,792 |
|
|
335,452 |
|
| Total assets less current liabilities |
|
|
|
411,718 |
|
|
412,648 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(20,340) |
|
|
(22,769) |
|
| Net assets |
|
|
|
391,378 |
|
|
389,879 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
391,376 |
|
|
389,877 |
|
| Shareholders' funds |
|
|
|
391,378 |
|
|
389,879 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The 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. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
| The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006. |
|
|
|
| J K Moss |
| Director |
| Approved by the board on 04 January 2018 |
|
| Oxford Experience Limited |
| Notes to the Abridged Accounts |
| for the year ended 30 April 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Consolidation |
|
The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the option not to prepare group accounts. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, as follows: |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
Straight line over 5 years |
|
Motor vehicles |
25% reducing balance |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leasing and hire purchase commitments |
|
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight-line basis. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
8 |
|
8 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Total |
| £ |
|
Cost |
|
Disposals |
(17,055) |
|
At 30 April 2017 |
(14,899) |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2016 |
172,710 |
|
On disposals |
(11,771) |
|
At 30 April 2017 |
169,081 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2017 |
24,924 |
|
At 30 April 2016 |
36,194 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 May 2016 |
41,002 |
|
At 30 April 2017 |
41,002 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
J K Moss |
|
Director's loan account |
- |
|
6,077 |
|
- |
|
6,077 |
|
|
|
- |
|
6,077 |
|
- |
|
6,077 |
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
The Broad Street lease is in the name of Howes Cycles Limitied, a 100% subsidiary of The Oxford Teddy Bear Academy Limited. Both of these companies are dormant, and directly or indirectly owned by Oxford Experience Limited. The holding company trades from these premises and has agreed to meet the related expenses. |
|
|
| 7 |
Controlling party |
|
|
The company was under the common control of Miss S E Moss and Ms J K Moss throughout the year. Both were directors of the company and each own 50% of the issued share capital. |
|
|
| 8 |
Other information |
|
|
Oxford Experience Limited is a private company limited by shares and incorporated in England. Its registered office is Rectory Mews, Crown Road, Wheatley, Oxon OX33 1UL. |
