Registration number:
Octavian Holdings Limited
for the Period from 9 June 2023 to 30 June 2024
Octavian Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Octavian Holdings Limited
Company Information
Directors |
V S Shrivastava R N Tiam |
Registered office |
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Octavian Holdings Limited
(Registration number: 14927214)
Balance Sheet as at 30 June 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Octavian Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 9 June 2023 to 30 June 2024
General information |
The Company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
England
The principal place of business is:
41 Elveley Drive
West Ella
Hull
HU10 7RT
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Summary of disclosure exemptions
The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with it's parent. Group accounts have not been prepared under the FRS102 section 1a disclosure exemption applicable to small groups..
Going concern
The company was incorporated on 9 June 2023. This is the company's first period of trade and the financial statements have been prepared on a going concern basis.
The Directors understand that there is doubt for the going concern status of the entity due to the net current liabilities position of £103,836 at the year end. This is largely due to a Director loan account balance of £106,901. The Directors have confirmed that they will not seek repayment of the loan balance until the entity is in a position to be able to repay this. The Directors have confirmed that they will support the entity in repaying debts as they fall due and are satisifed that the accounts can be prepared on the going concern basis.
Octavian Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 9 June 2023 to 30 June 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the rental of property in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures & Fittings |
20% Reducing balance |
Land and Buildings |
Recognised at cost |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Company in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Octavian Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 9 June 2023 to 30 June 2024
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the period, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 June 2024 |
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Depreciation |
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Charge for the period |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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Included within the net book value of land and buildings above is £203,691 in respect of freehold land and buildings.
Octavian Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 9 June 2023 to 30 June 2024
Investments |
2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 30 June 2024 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
2024 |
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Subsidiary undertakings |
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41 Elveley Drive, West Ella, East Yorkshire, HU10 7RT England |
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Debtors |
Current |
2024 |
Prepayments |
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Octavian Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 9 June 2023 to 30 June 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Loans and borrowings |
Current loans and borrowings
2024 |
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Other borrowings |
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Other borrowings relates to an unsecured directors loan account.
Related party transactions |
Other transactions with Directors |
At the year end, the company owed the directors £106,901. This amount is unsecured, interest free and repayable on demand.
Summary of transactions with subsidiaries