Oxford Nanosystems Ltd - Period Ending 2017-02-28

Oxford Nanosystems Ltd - Period Ending 2017-02-28


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Registration number: 07523447

Oxford Nanosystems Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2017

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Oxford Nanosystems Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Oxford Nanosystems Ltd

Company Information

Directors

M A Evans

L Price

J M Tyrrell

D Kogan

Alex Reip

K J Biltoo

Registered office

G53W R12
Rutherford Appleton Lab
Harwell Innov Campus
Didcot
Oxon
OX11 0QX

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Oxford Nanosystems Ltd

(Registration number: 07523447)
Balance Sheet as at 28 February 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

605

807

Current assets

 

Debtors

5

21,345

51,153

Cash at bank and in hand

 

72,269

11,407

 

93,614

62,560

Creditors: Amounts falling due within one year

6

(1,606)

(5,264)

Net current assets

 

92,008

57,296

Net assets

 

92,613

58,103

Capital and reserves

 

Called up share capital

7,610

7,610

Share premium reserve

318,278

318,278

Profit and loss account

(233,275)

(267,785)

Total equity

 

92,613

58,103

For the financial year ending 28 February 2017 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 August 2017 and signed on its behalf by:
 

J M Tyrrell

Director

 

Oxford Nanosystems Ltd

Notes to the Financial Statements for the Year Ended 28 February 2017

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
G53W R12
Rutherford Appleton Lab
Harwell Innov Campus
Didcot
Oxon
OX11 0QX

These financial statements were authorised for issue by the Board on 22 August 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oxford Nanosystems Ltd

Notes to the Financial Statements for the Year Ended 28 February 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2016 - 3).

 

Oxford Nanosystems Ltd

Notes to the Financial Statements for the Year Ended 28 February 2017

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2016

1,559

1,559

At 28 February 2017

1,559

1,559

Depreciation

At 1 March 2016

752

752

Charge for the year

202

202

At 28 February 2017

954

954

Carrying amount

At 28 February 2017

605

605

At 29 February 2016

807

807

5

Debtors

2017
£

2016
£

Trade debtors

-

10,000

Other debtors including corporation tax credit £21,327 (2016 £29,434)

21,345

41,153

Total current trade and other debtors

21,345

51,153

6

Creditors

Note

2017
£

2016
£

Due within one year

 

Taxation and social security

 

-

3,704

Other creditors

 

1,606

1,560

 

1,606

5,264