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REGISTERED NUMBER: SC424114 (Scotland)




















Oakbank Asset Management Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Oakbank Asset Management Limited (Registered number: SC424114)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakbank Asset Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs E H Rossini
J C Rossini



SECRETARY: Mrs E H Rossini



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC424114 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: HSBC
Perth Branch
82-84 High Street
Perth
PH1 5TH

Oakbank Asset Management Limited (Registered number: SC424114)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investments 5 48 48
48 48

CURRENT ASSETS
Cash at bank 173,497 207,005

CREDITORS
Amounts falling due within one year 6 876 834
NET CURRENT ASSETS 172,621 206,171
TOTAL ASSETS LESS CURRENT LIABILITIES 172,669 206,219

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 172,619 206,169
SHAREHOLDERS' FUNDS 172,669 206,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Oakbank Asset Management Limited (Registered number: SC424114)

Balance Sheet - continued
31 March 2024


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 21 August 2024 and were signed on its behalf by:




J C Rossini - Director



Mrs E H Rossini - Director


Oakbank Asset Management Limited (Registered number: SC424114)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Oakbank Asset Management Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

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.

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


Oakbank Asset Management Limited (Registered number: SC424114)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 14,132
AMORTISATION
At 1 April 2023
and 31 March 2024 14,132
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Oakbank Asset Management Limited (Registered number: SC424114)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 48
NET BOOK VALUE
At 31 March 2024 48
At 31 March 2023 48

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 876 834