2022-11-012023-10-312023-10-31false13703293Oakvale Ventures 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Oakvale Ventures Limited

Registered Number
13703293
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Oakvale Ventures Limited
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

D P Burns
M Z Juroszek
S A P Loudon

Registered Address

New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Registered Number

13703293 (England and Wales)
Oakvale Ventures Limited
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments38,131,4813,509,099
8,131,4813,509,099
Current assets
Debtors433
Cash at bank and on hand712,614525,608
712,617525,611
Creditors amounts falling due within one year5(617,183)-
Net current assets (liabilities)95,434525,611
Total assets less current liabilities8,226,9154,034,710
Creditors amounts falling due after one year6(8,729,969)(4,148,786)
Net assets(503,054)(114,076)
Capital and reserves
Called up share capital33
Profit and loss account(503,057)(114,079)
Shareholders' funds(503,054)(114,076)
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
D P Burns
Director
Registered Company No. 13703293
Oakvale Ventures Limited
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company's functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
There are no critical estimates or judgements involved in the preparation ofhe numbers contains within these financial statements.
Revenue from rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.
Current taxation
Taxation for the year comprises current 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 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 statement of financial position date.
Investments
Investments are measured at fair value and changes in fair value are included in the income statemement. Investments are initially recognised at transaction price excluding any incidental transaction costs. Investments are revalued at their Fair value at the end of the period, where possible. If a reliable measure of fair value is not available (for example, equity instruments not listed on an exchange) the carrying value of the investment in question is deemed to be equal to the cost.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently,at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially,at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees

20232022
Average number of employees during the year00
3.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 November 223,509,0993,509,099
Additions4,622,3824,622,382
At 31 October 238,131,4818,131,481
Net book value
At 31 October 238,131,4818,131,481
At 31 October 223,509,0993,509,099

Notes

1Other investments other than loans
4.Debtors: amounts due within one year

2023

2022

££
Other debtors33
Total33
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables617,183-
Total617,183-
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties8,285,2714,096,112
Other creditors444,69852,674
Total8,729,9694,148,786