HEDGES_2_LIMITED_(FORMERL - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Hedges 2 Limited (formerly known as Oxford Computer Group Worldwide Limited) is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Corner Farm, Oakley Road, Horton-Cum-Studley, Oxford, OX33 1BJ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The turnover shown in the profit and loss account represents amounts invoiced for services provided and licence fees receivable during the year, exclusive of Value Added Tax. Where income for training courses is received in advance it is deferred until the course has taken place.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Work in progress relates to course development work undertaken during the financial year but not invoiced at the year end.

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The average monthly number of persons (including directors) employed by the company during the year was 8 (2017 - 7).

During the year a director invoiced a total of £36,724 (2017: £53,423) for contractor services and admin expenses.

Included in creditors is an amount due to the above director of £4,916 (2017: £Nil).

The company is controlled by its parent company Oxford Computer Group Worldwide Ltd (formerly Hedges 2 Limited) by virtue of its 100% shareholding.