Oxford Space Structures Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 April 2020
Company Registration No. 08476878 (England and Wales)
Oxford Space Structures Limited
Company Information
Directors
F Chen
J Jantke
D Ryan
Secretary
J Jantke
Company number
08476878
Registered office
57 Treharris Street
Cardiff
Wales
CF24 3HL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Oxford Space Structures Limited
Balance Sheet
As at 30 April 2020
30 April 2020
Page 1
2020
2019
Notes
£
£
£
£
Current assets
Debtors
5
4,495
66,134
Cash at bank and in hand
1,615,156
14,576
1,619,651
80,710
Creditors: amounts falling due within one year
6
(68,091)
(67,342)
Net current assets
1,551,560
13,368
Capital and reserves
Called up share capital
7
195
195
Share premium account
924,084
924,084
Profit and loss reserves
627,281
(910,911)
Total equity
1,551,560
13,368
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 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 15 April 2021 and are signed on its behalf by:
J Jantke
Director
Company Registration No. 08476878
Oxford Space Structures Limited
Statement of Changes in Equity
For the year ended 30 April 2020
Page 2
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2018
180
744,276
(660,578)
83,878
Period ended 30 April 2019:
Loss and total comprehensive income for the year
-
-
(250,333)
(250,333)
Issue of share capital
7
15
179,808
-
179,823
Balance at 30 April 2019
195
924,084
(910,911)
13,368
Period ended 30 April 2020:
Loss and total comprehensive income for the year
-
-
1,538,192
1,538,192
Balance at 30 April 2020
195
924,084
627,281
1,551,560
Oxford Space Structures Limited
Notes to the Financial Statements
For the year ended 30 April 2020
Page 3
1
Accounting policies
Company information
Oxford Space Structures Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
57 Treharris Street, Cardiff, Wales, CF24 3HL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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 pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services.
Plant and machinery
33.3% on a straight line basis
1.3
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as ‘other’ or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Oxford Space Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2020
1
Accounting policies
(Continued)
Page 4
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Foreign exchange
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.
2
Exceptional costs/(income)
2020
2019
£
£
Sale of Intellectual property rights
(2,000,000)
-
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2
(201
9
:
3
).
4
Taxation
2020
2019
£
£
Current tax
UK corporation tax on profits for the current period
58,718
(6,876)
Adjustments in respect of prior periods
3,273
-
Total current tax
61,991
(6,876)
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
-
55,884
Corporation tax recoverable
3,603
6,876
Other debtors
892
3,374
4,495
66,134
Oxford Space Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2020
Page 5
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
1,173
54,199
Corporation tax
58,718
-
Other taxation and social security
2,325
3,363
Other creditors
5,875
9,780
68,091
67,342
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
19,563 Ordinary shares of 1p each
195
195
8
Related party transactions
I
ncluded in other
debtors
is an amount of £
nil
(201
9
: £
1,205
)
due from
Dr F Chen, a director of the company
.