Company Registration No. 08751331 (England and Wales)
OXFORD MESTAR LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
OXFORD MESTAR LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
OXFORD MESTAR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
108,647
6,626
Tangible assets
2
8,523
12,708
117,170
19,334
Current assets
Debtors
1,346,824
1,435,969
Cash at bank and in hand
522,372
525,112
1,869,196
1,961,081
Creditors: amounts falling due within one year
(22,316)
(25,157)
Net current assets
1,846,880
1,935,924
Total assets less current liabilities
1,964,050
1,955,258
Provisions for liabilities
(10,167)
(7,891)
1,953,883
1,947,367
Capital and reserves
Called up share capital
3
26
23
Share premium account
2,098,784
1,698,787
Profit and loss account
(144,927)
248,557
Shareholders' funds
1,953,883
1,947,367
OXFORD MESTAR LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 July 2017
S Brindle
Director
Company Registration No. 08751331
OXFORD MESTAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred.
1.5
Intangible assets
Assets are being amortised over 6 years on the straight line basis.
1.6
Tangible fixed assets and depreciation
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:
Short leasehold
25% straight line basis
Computer equipment
25% straight line basis
Fixtures, fittings & equipment
25% straight line basis
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
OXFORD MESTAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015
6,907
16,740
23,647
Additions
108,289
-
108,289
At 31 October 2016
115,196
16,740
131,936
Depreciation
At 1 November 2015
281
4,032
4,313
Charge for the year
6,268
4,185
10,453
At 31 October 2016
6,549
8,217
14,766
Net book value
At 31 October 2016
108,647
8,523
117,170
At 31 October 2015
6,626
12,708
19,334
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2,572 Ordinary shares of 1p each
26
23