OCTAVE CAPITAL MANAGEMENT LIMITED

Company Registration Number:
07085761 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

OCTAVE CAPITAL MANAGEMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

OCTAVE CAPITAL MANAGEMENT LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the company is to provide support services to Octave Investment Management LLP (the "LLP"), of which the company is a member. The LLP is incorporated in England & Wales and its principal activity is to provide investment management services, and it also seeks to engage in corporate finance and structured finance opportunities as principal or advisor. The LLP is authorised and regulated by The Financial Conduct Authority.

Additional information

DIVIDENDS The director has not recommended a dividend. DIRECTOR'S RESPONSIBILITIES STATEMENT The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: -select suitable accounting policies and then apply them consistently; -make judgements and accounting estimates that are reasonable and prudent; -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

David Curtis


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 September 2024

And signed on behalf of the board by:
Name: David Curtis
Status: Director

OCTAVE CAPITAL MANAGEMENT LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: (28,195) (24,069)
Gross profit(or loss): (28,195) (24,069)
Operating profit(or loss): (28,195) (24,069)
Profit(or loss) before tax: (28,195) (24,069)
Profit(or loss) for the financial year: (28,195) (24,069)

OCTAVE CAPITAL MANAGEMENT LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Investments: 3 79,961 105,220
Total fixed assets: 79,961 105,220
Current assets
Cash at bank and in hand: 42 262
Total current assets: 42 262
Creditors: amounts falling due within one year: 4 ( 12,465 ) ( 9,749 )
Net current assets (liabilities): (12,423) (9,487)
Total assets less current liabilities: 67,538 95,733
Total net assets (liabilities): 67,538 95,733
Capital and reserves
Called up share capital: 3,918 3,918
Share premium account: 3,129,446 3,129,446
Profit and loss account: (3,065,826 ) (3,037,631 )
Total Shareholders' funds: 67,538 95,733

The notes form part of these financial statements

OCTAVE CAPITAL MANAGEMENT LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 6 September 2024
and signed on behalf of the board by:

Name: David Curtis
Status: Director

The notes form part of these financial statements

OCTAVE CAPITAL MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Useful economic lives of non-financial assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilization and the physical condition of the assets.

    Other accounting policies

    Basis of preparation 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Judgement in applying accounting policies The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. Critical accounting estimates and assumptions The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year are addressed below. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing recoverability impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. Financial instruments Financial assets Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial liabilities Basic financial liabilities, including trade and other payables and bank 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. Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Taxation Provision is made for corporation tax at the current rates on the excess of taxable income over allowable expenses. Provision is made for deferred tax on all material timing differences arising from the different treatment of items for accounting and tax purposes. A deferred tax asset is recognised only to the extent that it is more likely than not that there will be taxable profits in the future against which the asset can be offset. Foreign currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken to the statement of comprehensive income. Going concern The director expects the company has adequate resources to continue in operational existence for the foreseeable future. If required, additional capital will be provided by the shareholders. Debtors & creditors Debtors Short term debtors are measured at transaction price, less any impairment. Loans are receivable initially at fair value, net of transaction costs and are measured subsequently at the amortised cost using the effective interest method, less any impairment. Creditors Short term creditors are measured at transaction price.

OCTAVE CAPITAL MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

OCTAVE CAPITAL MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Fixed assets investments note

The company is a designated member of Octave Investment Management LLP, an LLP incorporated and registered in England and Wales. The principal activity of the LLP is the provision of investment management services and it also seeks to engage in corporate finance and structured finance opportunities as principal or advisor. The value of the company's investment in the LLP has been adjusted during the year to the expected recoverable amount of £79,961.

OCTAVE CAPITAL MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 12,465 9,749
Total 12,465 9,749