OXFORD_LEARNING_LAB_LIMIT - Accounts

OXFORD LEARNING LAB LIMITED - Company Information

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Company Registration No. 05431143 (England and Wales)

OXFORD LEARNING LAB LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

OXFORD LEARNING LAB LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

OXFORD LEARNING LAB LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Current assets

Debtors

2,940

1,294

Cash at bank and in hand

1,791

1,104

4,731

2,398

Creditors: amounts falling due within one year

(1,740)

(5,864)

Total assets less current liabilities

2,991

(3,466)

Creditors: amounts falling due after more than one year

(29,258)

(20,809)

(26,267)

(24,275)

Capital and reserves

Called up share capital

Profit and loss account

(26,317)

(24,325)

Shareholders' funds

(26,267)

(24,275)

For the financial year ended 31 March 2014 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 December 2014

G Burlini

Director

Company Registration No. 05431143

OXFORD LEARNING LAB LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The accounts have been prepared on the going concern basis despite the company having negative reserves. The directors have pledged their continued support to the company and improved results are expected.

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

Turnover represents amounts receivable for subscription and licensing services net of trade discounts.

1.4

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.

1.5

Revenue recognition

Fee income represents revenue earned under subscription and licensing services. Subscription revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue in respect of licensing services is recognised evenly over the period of the licensing agreement.

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Share capital

2014

2013

Allotted, called up and fully paid

50 Ordinary shares of £1 each