Registered number:
02816999
LONDON & OXFORD CAPITAL MARKETS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2021
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LONDON & OXFORD CAPITAL MARKETS LIMITED
REGISTERED NUMBER:
02816999
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2021
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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LONDON & OXFORD CAPITAL MARKETS LIMITED
REGISTERED NUMBER:
02816999
STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
31 DECEMBER 2021
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Capital redemption reserve
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The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 3 to 13 form part of these financial statements.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
London and Oxford Capital Markets Limited, is a private company limited by shares incorporated in England and Wales. The address of the registered company is 4 Moorgate, London, EC2R 6DA.
The principal activity of the company continued to be the provision of corporate finance and investment advisory services. The company focuses on providing independent advice and expertise to clients both large and small in the private and public sectors.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Turnover represents the amounts receivable from trading in securities and the provision of financial and advisory services to customers during the year, net of value added tax, to the extent that they are non-refundable. Any contingent fees associated with such transactions have not been recognised where significant doubt exists as to their realisation. Turnover arises in the United Kingdom.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was
23
(2020 -
19
)
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Charge for the year on owned assets
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Investments in subsidiary companies
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
5.
Fixed asset investments (continued)
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The following were subsidiary undertakings of the Company:
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4 Moorgate, London, England, EC2R 6DA
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London and Oxford Nominees Limited
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4 Moorgate, London, England, EC2R 6DA
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Due after more than one year
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Prepayments and accrued income
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Current asset investments
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Cash and cash equivalents
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Included within cash at bank and in hand amount of £11,227,589 as shown on the balance sheet are amounts of £10,452,394 (2020: £14,500,053) which relate to monies held on behalf of the clients in accordance with the Financial Conduct Authority (FCA) Client Assets Sourcebook.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Included in other creditors above are amounts of £10,709,130 (2020: £14,500,053) which relate to monies held on behalf of the clients in accordance with the Financial Conduct Authority (FCA) Client Assets Sourcebook.
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Creditors: Amounts falling due after more than one year
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Share capital treated as debt
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Other creditors represents 4.5% Fixed rate Corporate Bonds repayable in June 2023.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Shares classified as equity
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Allotted, called up and fully paid
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150,000
(2020 -
150,000
)
Ordinary
shares of £
1.00
each
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10,000
(2020 -
10,000
)
Preference
shares of £
1,000.00
each
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Shares classified as debt
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Allotted, called up and fully paid
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824,000
(2020 -
824,000
)
'A' Redeemable Preference
shares of £
10.00
each
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The shares entitle the holders to a fixed preferential dividend at the rate of 5% per annum.
The 'A' preference shares shall be redeemed at any time after the fifth anniversary of the date of issue of the relevant 'A' preference share at the issue price at the option of either the company or the holder on not less than 30 days prior written notice.
Capital redemption reserve
Capital redemption reserve includes all shares that have been repurchased by the company.
Profit and loss account
Profit and loss includes all current and prior periods retained profit.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,453 (2020: £28,577). Contributions totalling £Nil (2020: £Nil) were payable to the fund at the reporting date and are included in creditors.
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LONDON & OXFORD CAPITAL MARKETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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Related party transactions
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At the year end, following balances were receivable/payable from the related parties-
Included in Debtors due after more than one year-
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Siacon Limited
- Common director (Mr. C Yingsaeree) £
4,224,186
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Cyanstone Investment Fund SCA SICAV RAIF
- Common management £
3,500,000
Included in Debtors due within one year-
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Ipswich Educational Holding Limited
- Common director (Mr. C Yingsaeree) £
7,267
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JH Global Partners Limited
- Common Director (Mr. C Yingsaeree) £
412,569
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Joker Charlie Club1636 Limited
(13732022) - Common director (Ms S Wang) £
5,482
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Tokhouse Limited
(12599999) - 100% Subsidiary £
351,950
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At the balance sheet date, London and Oxford Capital Markets Limited was under control of WSJ Global Limited by virtue of the shareholding in the company.
The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.
The audit report was signed on
27 April 2022
by
Ian Palmer FCA
(Senior Statutory Auditor) on behalf of
Xeinadin Audit Limited
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