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REGISTERED NUMBER: OC340206 (England and Wales)










Members' Report and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Oakfield Capital Partners LLP

Oakfield Capital Partners LLP (Registered number: OC340206)






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




Page

General Information 1

Members' Report 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Oakfield Capital Partners LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: M J Patton
R N Merritt
A Bezugly





REGISTERED OFFICE: Greyhound House
23-24 George Street
Richmond
Surrey
TW9 1HY





REGISTERED NUMBER: OC340206 (England and Wales)





ACCOUNTANTS: SKS Business Services Limited
3 Sheen Road
Richmond upon Thames
Richmond
Surrey
TW9 1AD

Oakfield Capital Partners LLP (Registered number: OC340206)

Members' Report
for the Year Ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of investing in and advising growing businesses.

DESIGNATED MEMBERS
The designated members during the year under review were:

M J Patton
R N Merritt
A Bezugly

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £266,551 (2023 - £442,432 profit).

MEMBERS' INTERESTS
The LLP operates a drawings policy which has regard to a cautious estimate of forecast profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual members’ allocations have been determined.

Each member shall be entitled to make a capital contribution pro rata to his or its profit sharing percentage, if the Board shall, in its discretion, determine that further capital contributions should be made by the members.

Loans may be made to the LLP from time to time by any or all of the members on such terms to repayment, interest and otherwise as may be agreed between the board and the member making the loan contribution.

Members shall at all times keep such capital as it required from time to time in the LLP in order to fulfil the regulatory capital requirements of the FCA for the ongoing conduct of the business. Notwithstanding this, the membership agreement provides the board with discretionary powers from time to time to return capital to the active members (or any of them) in part, either on a pro rata basis or otherwise.

ON BEHALF OF THE MEMBERS:





R N Merritt - Designated member


24 July 2024

Oakfield Capital Partners LLP (Registered number: OC340206)

Income Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

REVENUE 561,836 751,138

Administrative expenses (295,805 ) (308,706 )
266,031 442,432

Other operating income 520 -
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




266,551




442,432

Oakfield Capital Partners LLP (Registered number: OC340206)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 - 2,176

CURRENT ASSETS
Debtors 6 136,624 266,906
Cash at bank and in hand 7 44,573 93,412
181,197 360,318
CREDITORS
Amounts falling due within one year 8 (23,111 ) (33,446 )
NET CURRENT ASSETS 158,086 326,872
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

158,086

329,048

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

86

169,798

MEMBERS' OTHER INTERESTS
Capital accounts 8,750 10,000
Revaluation reserve 10 149,250 149,250
158,086 329,048

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 86 169,798
Members' other interests 158,000 159,250
Amounts due from members 6 (39,651 ) -
118,435 329,048

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Oakfield Capital Partners LLP (Registered number: OC340206)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 July 2024 and were signed by:





R N Merritt - Designated member

Oakfield Capital Partners LLP (Registered number: OC340206)

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

1. STATUTORY INFORMATION

Oakfield Capital Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

TURNOVER
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Computer equipment:33.33% Straight line method

DEFINED CONTRIBUTION PENSION PLAN
The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2023 - 3 ) .

Oakfield Capital Partners LLP (Registered number: OC340206)

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 12,940 18,708
Depreciation - owned assets 2,176 2,176
Pension costs 1,210 2,001

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 11,781 11,719 23,500
DEPRECIATION
At 1 April 2023 11,781 9,543 21,324
Charge for year - 2,176 2,176
At 31 March 2024 11,781 11,719 23,500
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - 2,176 2,176

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 122,339 156,608
Bad debts provision (50,138 ) (50,138 )
Oakfield Capital General LLP 3,730 102,587
Amounts due from members 39,651 -
Other debtors 8,562 49,732
Prepayments and accrued income 12,480 8,117
136,624 266,906

7. CASH AT BANK AND IN HAND
2024 2023
£    £   
Bank Account 44,274 93,409
Cash in hand 299 3
44,573 93,412

Oakfield Capital Partners LLP (Registered number: OC340206)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (5,187 ) 15,408
Social security and other taxes 1,418 3,036
Pension funds 100 100
VAT 5,193 2,373
Accruals and deferred income 21,587 12,529
23,111 33,446

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 149,250

11. RELATED PARTY DISCLOSURES

During the year, management fees of £411,843 (2023: £464,653) were charged to Oakfield Capital General Partner LLP, in which Oakfield Capital Partners LLP is the manager & designated member.

As at the balance sheet date, receivable from Oakfield Capital General Partners LLP £3,730 (2023: £102,588).