Oxby Investments Limited 30/04/2019 iXBRL


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Company registration number: 08470965
Oxby Investments Limited
Unaudited filleted financial statements
30 April 2019
Oxby Investments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Oxby Investments Limited
Directors and other information
Directors Mr N Oxby
Company number 08470965
Registered office Castle Vale Enterprise Park
Park Lane
Castle Vale
Birmingham
B35 6LJ
Business address 149 The Park
Market Bosworth
Nuneaton
Warwickshire
CV13 0LP
Accountants Hames Partnership Limited
Stables End Court, Main Street
Market Bosworth
Nuneaton
Warwickshire
CV13 0JN
Oxby Investments Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Oxby Investments Limited
Year ended 30 April 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oxby Investments Limited for the year ended 30 April 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com.
Hames Partnership Limited
CIMA
Stables End Court, Main Street
Market Bosworth
Nuneaton
Warwickshire
CV13 0JN
27 January 2020
Oxby Investments Limited
Statement of financial position
30 April 2019
2019 2018
Note £ £ £ £
Fixed assets
Investments 4 850,732 795,279
_______ _______
850,732 795,279
Current assets
Debtors 5 2,303 2,303
Cash at bank and in hand 71,785 100,517
_______ _______
74,088 102,820
Creditors: amounts falling due
within one year 6 ( 5,155) ( 6,711)
_______ _______
Net current assets 68,933 96,109
_______ _______
Total assets less current liabilities 919,665 891,388
Provisions for liabilities ( 19,352) ( 27,162)
_______ _______
Net assets 900,313 864,226
_______ _______
Capital and reserves
Called up share capital 3 3
Share premium account 750,000 750,000
Profit and loss account 150,310 114,223
_______ _______
Shareholders funds 900,313 864,226
_______ _______
For the year ending 30 April 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 January 2020 , and are signed on behalf of the board by:
Mr N Oxby
Director
Company registration number: 08470965
Oxby Investments Limited
Notes to the financial statements
Year ended 30 April 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit D2, Castle Vale Enterprise Park, Park Lane, Castle Vale, Birmingham, B35 6LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Other investments other than loans Total
£ £
Cost
At 1 May 2018 795,279 795,279
Additions 36,326 36,326
Fair value adjustment 19,127 19,127
_______ _______
At 30 April 2019 850,732 850,732
_______ _______
Impairment
At 1 May 2018 and 30 April 2019 - -
_______ _______
Carrying amount
At 30 April 2019 850,732 850,732
_______ _______
At 30 April 2018 795,279 795,279
_______ _______
5. Debtors
2019 2018
£ £
Other debtors 2,303 2,303
_______ _______
6. Creditors: amounts falling due within one year
2019 2018
£ £
Corporation tax 2,098 3,421
Other creditors 3,057 3,290
_______ _______
5,155 6,711
_______ _______
7. Controlling party
The ultimate controlling party is the director, Mr. N Oxby, by virtue of his shareholding.