OXFORD_HYDROTECHNICS_LIMI - Accounts
OXFORD_HYDROTECHNICS_LIMI - Accounts
Company Registration No. 02734738 (England and Wales)
(FORMERLY KNOWN AS H2OX LIMITED)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
(FORMERLY KNOWN AS H2OX LIMITED)
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
(FORMERLY KNOWN AS H2OX LIMITED)
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
- 1 -
2014
2013
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(182,796 )
(857,816 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(14,398 )
(16,761 )
Provisions for liabilities
(14,631 )
(11,849 )
438,609
480,881
Capital and reserves
Called up share capital
3
Other reserves
-
Profit and loss account
Shareholders' funds
(FORMERLY KNOWN AS H2OX LIMITED)
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2014
- 2 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 19 December 2014
Director
Company Registration No. 02734738
(FORMERLY KNOWN AS H2OX LIMITED)
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
174,197
Additions
27,120
At 31 March 2014
201,317
Depreciation
At 1 April 2013
91,671
Charge for the year
23,138
At 31 March 2014
114,809
Net book value
At 31 March 2014
86,508
At 31 March 2013
82,526
(FORMERLY KNOWN AS H2OX LIMITED)
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 4 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
During the year 70,000 ordinary shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.
During the year the company purchased 100 of its own ordinary £1 shares for cash consideration of £170,000.
4
Related party relationships and transactions
Transactions with connected entities
H2 Ox LLP (H2Ox)
Oxford Hydrotechnics Limited (OHL) is a materially interested partner of H2Ox. During the year under review H2ox incurred expenses on behalf of OHL totalling £196,604. In addition the OHL has paid a management charge of £61,750 in respect of the previous year and has received a management fee of £16,000 in respect of the current year. The profit share from H2Ox had not previously been recognised in these accounts and the total profit share entitlement to date of £418,779 has been included this year. Repayments of £609,000 were made by H2Ox and at the balance sheet date OHL is owed £419,191 by H2Ox (2013 - £372,588 owed by OHL to H2Ox) and this is included within other debtors. The outstanding balance will be repaid by H2Ox before 31 December 2014.
LLP Formations No. 57 LLP (No57)
Steve Henn, director and materially interested shareholder of OHL, together with his wife, owns 100% of No57. During the year under review OHL accepted liabilities on behalf of No57 totalling £89, At the balance sheet date OHL is owed £63,298 (2013 - £153,212) by No57 and this is included within other debtors.