Oxford Endeavours Limited - Limited company accounts 18.2

REGISTERED NUMBER: 04615092 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31st March 2018

for

Oxford Endeavours Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTORS:

Dr F A Nizami

Dr B Mustafa

R E Makepeace

SECRETARY:

G Brown

REGISTERED OFFICE:

Marston Road

Oxford

Oxfordshire

OX3 0EE

REGISTERED NUMBER:

04615092 (England and Wales)

AUDITORS:

Wenn Townsend

Chartered Accountants

Statutory Auditor

30 St Giles

Oxford

OX1 3LE

BANKERS:

Barclays Bank Plc

P.O. Box 858

Oxford

OX2 0XP

SOLICITORS:

Blake Morgan

Solicitors

Seacourt Tower

West Way

Oxford

Oxfordshire

OX2 0FB

The directors present their report with the financial statements of the company for the year ended 31st March 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2017 to the

date of this report.

Dr F A Nizami

Dr B Mustafa

R E Makepeace

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in

accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that

law the directors have elected to prepare the financial statements in accordance with United Kingdom

Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied

that they give a true and fair view of the state of affairs of the company and of the profit or loss of the

company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and

explain the company's transactions and disclose with reasonable accuracy at any time the financial

position of the company and enable them to ensure that the financial statements comply with the

Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence

for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of

the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all

the steps that he ought to have taken as a director in order to make himself aware of any relevant audit

information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Wenn Townsend, will be proposed for re-appointment at the forthcoming Annual

General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

Dr B Mustafa - Director

13th July 2018

Opinion

We have audited the financial statements of Oxford Endeavours Limited (the 'company') for the year

ended 31st March 2018 which comprise the Income Statement, Balance Sheet and Notes to the

Financial Statements, including a summary of significant accounting policies. The financial reporting

framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard

applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting

Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2018 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and

applicable law. Our responsibilities under those standards are further described in the Auditors'

responsibilities for the audit of the financial statements section of our report. We are independent of

the company in accordance with the ethical requirements that are relevant to our audit of the financial

statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical

responsibilities in accordance with these requirements. We believe that the audit evidence we have

obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK)

require us to report to you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that
may cast significant doubt about the company's ability to continue to adopt the going concern basis
of accounting for a period of at least twelve months from the date when the financial statements are
authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the

information in the Report of the Directors, but does not include the financial statements and our

Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express

any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other

information and, in doing so, consider whether the other information is materially inconsistent with the

financial statements or our knowledge obtained in the audit or otherwise appears to be materially

misstated. If, based on the work we have performed, we conclude that there is a material misstatement

of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the

course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires

us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the

directors are responsible for the preparation of the financial statements and for being satisfied that they

give a true and fair view, and for such internal control as the directors determine necessary to enable

the preparation of financial statements that are free from material misstatement, whether due to fraud

or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to

continue as a going concern, disclosing, as applicable, matters related to going concern and using the

going concern basis of accounting unless the directors either intend to liquidate the company or to

cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are

free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors

that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that

an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it

exists. Misstatements can arise from fraud or error and are considered material if, individually or in the

aggregate, they could reasonably be expected to influence the economic decisions of users taken on the

basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the

Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description

forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part

16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the

company's members those matters we are required to state to them in a Report of the Auditors and for

no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than the company and the company's members as a body, for our audit work, for this

report, or for the opinions we have formed.

John Gould BSc FCA, (Senior Statutory Auditor)

for and on behalf of Wenn Townsend

Chartered Accountants

Statutory Auditor

30 St Giles

Oxford

OX1 3LE

13th July 2018

TURNOVER

2,000

Administrative expenses

1,338

1,253

OPERATING PROFIT

662

747

Interest receivable and similar income

-

1

PROFIT BEFORE TAXATION

662

748

Tax on profit

-

PROFIT FOR THE FINANCIAL
YEAR

662

748

FIXED ASSETS

Tangible assets

3

-

Investments

4

1,393,725

CURRENT ASSETS

Debtors

5

4,000

2,000

Cash at bank

1,475

2,722

5,475

4,722

CREDITORS

Amounts falling due within one year

6

1,701

1,610

NET CURRENT ASSETS

3,774

3,112

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,397,499

1,396,837

CAPITAL AND RESERVES

Called up share capital

1,626,433

Retained earnings

(228,934

)

(229,596

)

SHAREHOLDERS' FUNDS

1,397,499

1,396,837

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13th July 2018 and were signed
on its behalf by:

Dr B Mustafa - Director

1.	STATUTORY INFORMATION

Oxford Endeavours 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation of fixed assets is calculated to write off their cost or valuation less any residual

value over their estimated useful lives as follows:

Fixtures and fittings - 15% Straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 balance sheet date.

Deferred tax

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

reversed at the balance sheet 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.

Investments

The unquoted investments in subsidiary undertakings are stated at cost less any provision for

diminution in value.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2017

and 31st March 2018

12,293

DEPRECIATION

At 1st April 2017

and 31st March 2018

12,293

NET BOOK VALUE

At 31st March 2018

-

At 31st March 2017

-

4.	INVESTMENTS

Unquoted

Investments

£

COST

At 1st April 2017

and 31st March 2018

1,393,725

NET BOOK VALUE

At 31st March 2018

1,393,725

At 31st March 2017

1,393,725

The investment in Oxford Islamic Finance Limited has been written down to a value of Nil. The

original cost of the investment was £200,896.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR

2018

2017

£

Amounts owed by group undertakings

4,000

2,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR

2018

2017

£

Amounts owed to group undertakings

422

392

Other creditors

1,279

1,218

1,701

1,610

7.	SUBSIDIARY COMPANIES

The company has two wholly owned subsidiary companies, both of which are registered in

England.

(i) Oxford Real Estate Limited, whose principal activity is property investment and management.

During the year to 31st March 2018 the company made a profit of £9,523 and at 31st March

2018 had net assets of £5,242,374.

(ii) Oxford Islamic Finance Limited, whose principal activity is consultancy.

During the year to 31st March 2018 the company remained dormant and had no financial

activity.and had net assets at 31st March,2018 of £ 422.