Company Registration No. 03312523 (England and Wales)
OXFORD CASTLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
OXFORD CASTLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OXFORD CASTLE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
-
106,103
Creditors: amounts falling due within one year
4
(600)
(23,132)
Net current (liabilities)/assets
(600)
82,971
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(601)
82,970
Total equity
(600)
82,971
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 30 September 2019 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.
T
he 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.
The financial statements were approved by the board of directors and authorised for issue on 28 September 2020 and are signed on its behalf by:
T Osborne
Director
Company Registration No. 03312523
OXFORD CASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
Oxford Castle Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
1.1
Accounting convention
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 a
mounts
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.
1.2
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost
less impairment.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
OXFORD CASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors and loans from
fellow group companies, are
initially recognised at transaction price
and subsequently measured at amortised cost.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
2019
2018
Number
Number
Total
2
2
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
106,103
OXFORD CASTLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
-
3,834
Amounts owed to group undertakings
-
10,000
Other creditors
600
9,298
600
23,132
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1
6
Events after the reporting date
The outbreak of COVID-19 will affect this company and virtually every company in the UK. The financial
impact cannot be estimated although it is anticipated that profitability post the commencement of the
outbreak will be reduced and there is a risk that capital values may be negatively affected.
The director has considered the effect of this with regards to the going concern basis of the company and
whilst they cannot currently provide a reliable estimate of the cost to the business (given the uncertainty
over the longevity of the outbreak) they feel that it will not be detrimental to the going concern of the
business.
7
Parent company
The directors regard The Trevor Osborne Property Group Limited as the ultimate parent company.
The parent undertaking of both the smallest and largest group within which the company belongs and for
which consolidated financial statements are prepared is
The Trevor Osborne Property Group Limited and these consolidated financial statements are available from The Registrar of Companies.