Company Registration No. 04308175 (England and Wales)
OXFORD BIOMATERIALS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
OXFORD BIOMATERIALS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
OXFORD BIOMATERIALS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 FEBRUARY 2016
29 February 2016
- 1 -
2016
2015
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
2
63,125
62,448
Tangible assets
2
3,410
7,082
Investments
2
3,001
3,001
69,536
72,531
Current assets
Debtors
4,546,921
4,542,002
Cash at bank and in hand
127,174
177,484
4,674,095
4,719,486
Creditors: amounts falling due within one year
(23,278)
(44,731)
Net current assets
4,650,817
4,674,755
Total assets less current liabilities
4,720,353
4,747,286
Capital and reserves
Called up share capital
3
1,809
1,809
Share premium account
510,556
510,556
Profit and loss account
4,207,988
4,234,921
Shareholders' funds
4,720,353
4,747,286
For the financial year ended 29 February 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 26 November 2016
Dr David Bott
Director
Company Registration No. 04308175
OXFORD BIOMATERIALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 2 -
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.4
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:
Plant and machinery
50% straight line on cost
Computer equipment
33% straight line on cost
Fixtures, fittings & equipment
25% straight line on cost
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
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 BIOMATERIALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 March 2015
62,448
22,655
3,001
88,104
Additions
6,916
4,490
-
11,406
Disposals
-
(5,526)
-
(5,526)
At 29 February 2016
69,364
21,619
3,001
93,984
Depreciation
At 1 March 2015
-
15,575
-
15,575
On disposals
-
(5,526)
-
(5,526)
Charge for the year
6,239
8,160
-
14,399
At 29 February 2016
6,239
18,209
-
24,448
Net book value
At 29 February 2016
63,125
3,410
3,001
69,536
At 28 February 2015
62,448
7,082
3,001
72,531
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Neurotex Limited
England and Wales
Ordinary shares
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
July 2015
Principal activity
£
Neurotex Limited
Research and development into natural sciences
(12,669)
OXFORD BIOMATERIALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
180,900 Ordinary shares of 1p each
1,809
1,809