IRIS Accounts Production v23.3.1.45 12891624 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh128916242022-12-31128916242023-12-31128916242023-01-012023-12-31128916242021-12-31128916242022-01-012022-12-31128916242022-12-3112891624ns10:Originalns15:EnglandWales2023-01-012023-12-3112891624ns14:PoundSterlingns10:Original2023-01-012023-12-3112891624ns10:Originalns10:Director12023-01-012023-12-3112891624ns10:Original2023-01-012023-12-3112891624ns10:Original2023-12-3112891624ns10:Originalns10:PrivateLimitedCompanyLtd2023-01-012023-12-3112891624ns10:Originalns10:SmallEntities2023-01-012023-12-3112891624ns10:Originalns10:AuditExemptWithAccountantsReport2023-01-012023-12-3112891624ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112891624ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-012023-12-3112891624ns10:Originalns10:FullAccounts2023-01-012023-12-3112891624ns10:Originalns10:Director22023-01-012023-12-3112891624ns10:CompanySecretary1ns10:Original2023-01-012023-12-3112891624ns10:Originalns10:RegisteredOffice2023-01-012023-12-3112891624ns10:Original2022-12-3112891624ns10:Originalns5:CurrentFinancialInstruments2023-12-3112891624ns10:Originalns5:CurrentFinancialInstruments2022-12-3112891624ns5:ShareCapitalns10:Original2023-12-3112891624ns5:ShareCapitalns10:Original2022-12-3112891624ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-12-3112891624ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3112891624ns10:Original2022-01-012022-12-3112891624ns10:Originalns5:CostValuation2022-12-3112891624ns10:Originalns5:AdditionsToInvestments2023-12-3112891624ns10:Originalns5:DisposalsRepaymentsInvestments2023-12-3112891624ns10:Originalns5:RevaluationsIncreaseDecreaseInInvestments2023-12-3112891624ns10:Originalns5:CostValuation2023-12-31
REGISTERED NUMBER: 12891624 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Octave Investments Limited

Octave Investments Limited (Registered number: 12891624)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Octave Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S K Phipps
N S Phipps





SECRETARY:





REGISTERED OFFICE: 8 Winmarleigh Street
Warrington
United Kingdom
Cheshire
WA1 1JW





REGISTERED NUMBER: 12891624 (England and Wales)





ACCOUNTANTS: Voisey & Co LLP
Chartered Accountants
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW

Octave Investments Limited (Registered number: 12891624)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 719,865 559,716

CURRENT ASSETS
Cash at bank 3,661 47,366

CREDITORS
Amounts falling due within one year 5 1,499 -
NET CURRENT ASSETS 2,162 47,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,027

607,082

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 721,927 606,982
SHAREHOLDERS' FUNDS 722,027 607,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 9 February 2024 and were signed on its behalf by:




N S Phipps - Director


Octave Investments Limited (Registered number: 12891624)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Octave Investments 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Octave Investments Limited (Registered number: 12891624)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Fixed asset investments
Fixed asset investments which are stated at year end market value as provided by the professional fund managers.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have been adjusted.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforcible right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the net asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Octave Investments Limited (Registered number: 12891624)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors and director loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Octave Investments Limited (Registered number: 12891624)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 100 559,616 559,716
Additions - 376,672 376,672
Disposals - (242,156 ) (242,156 )
Revaluations - 25,633 25,633
At 31 December 2023 100 719,765 719,865
NET BOOK VALUE
At 31 December 2023 100 719,765 719,865
At 31 December 2022 100 559,616 559,716

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2023 - 719,765 719,765
Cost 100 - 100
100 719,765 719,865

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 1,499 -

6. ULTIMATE CONTROLLING PARTY

The controlling party is N S Phipps.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Octave Investments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Octave Investments Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Octave Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Octave Investments Limited and state those matters that we have agreed to state to the Board of Directors of Octave Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Octave Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Octave Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Octave Investments Limited. You consider that Octave Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Octave Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Voisey & Co LLP
Chartered Accountants
8 Winmarleigh Street
Warrington
Cheshire
WA1 1JW


13 February 2024