Oxring Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02042259 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

OXRING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Simons

B J Simons

SECRETARY:

S Simons

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

02042259 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Intangible assets

4

239,701

288,705

Tangible assets

5

255,133

314,208

494,834

602,913

CURRENT ASSETS

Stocks

274,865

282,258

Debtors

6

62,409

87,520

Cash at bank and in hand

599,358

432,165

936,632

801,943

CREDITORS

Amounts falling due within one year

7

775,196

744,652

NET CURRENT ASSETS

161,436

57,291

TOTAL ASSETS LESS CURRENT LIABILITIES

656,270

660,204

PROVISIONS FOR LIABILITIES

40,787

50,133

NET ASSETS

615,483

610,071

CAPITAL AND RESERVES

Called up share capital

10,890

10,890

Retained earnings

604,593

599,181

SHAREHOLDERS' FUNDS

615,483

610,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2021 and were signed on its behalf by:

S Simons - Director

B J Simons - Director

1.	STATUTORY INFORMATION

Oxring Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business and the acquisition of a lease, are being amortised over the period of the lease on each store.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% straight line basis

Plant and machinery etc

-

at varying rates on cost

GOVERNMENT GRANTS

The company have accounted for government grants due to them at the reporting date, as a result of the country going into lockdown due to Covid-19 in late March 2020. The funds due to the company have been accounted for on an accrual basis.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 99 (2020 - 80 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

617,892

AMORTISATION

At 1 April 2020

329,187

Charge for year

49,004

At 31 March 2021

378,191

NET BOOK VALUE

At 31 March 2021

239,701

At 31 March 2020

288,705

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

115,720

757,248

872,968

Additions

-

15,706

15,706

Disposals

-

(139,258

)

(139,258

)

At 31 March 2021

115,720

633,696

749,416

DEPRECIATION

At 1 April 2020

97,563

461,197

558,760

Charge for year

4,696

70,038

74,734

Eliminated on disposal

-

(139,211

)

(139,211

)

At 31 March 2021

102,259

392,024

494,283

NET BOOK VALUE

At 31 March 2021

13,461

241,672

255,133

At 31 March 2020

18,157

296,051

314,208

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

1,039

1,322

Other debtors

46,370

71,198

47,409

72,520

Amounts falling due after more than one year:

Other debtors

15,000

15,000

Aggregate amounts

62,409

87,520

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

240,569

366,515

Taxation and social security

146,233

92,430

Other creditors

388,394

285,707

775,196

744,652

8.	LEASING AGREEMENTS

At 31st March 2021, the company had total commitments under non-cancellable operating leases over the remaining life of those lease of £1,277,140 (2020: £1,443,646).

9.	RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market conditions, including dividend payments to its shareholders.