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Company No: 10267337 (England and Wales)

HIGH OAK CAPITAL LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

HIGH OAK CAPITAL LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

HIGH OAK CAPITAL LTD

COMPANY INFORMATION

For the financial year ended 30 June 2024
HIGH OAK CAPITAL LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR R J W Hodson
REGISTERED OFFICE Level 1
Brockbourne House
77 Mount Ephraim
Tunbridge Wells
TN4 8BS
United Kingdom
COMPANY NUMBER 10267337 (England and Wales)
ACCOUNTANT Evelyn Partners LLP
4th Floor Cumberland House
15-17 Cumberland Place
Southampton
Hampshire
SO15 2BG
HIGH OAK CAPITAL LTD

BALANCE SHEET

As at 30 June 2024
HIGH OAK CAPITAL LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 2,335 0
Investments 5 1,850,219 1,773,986
1,852,554 1,773,986
Current assets
Debtors 6 833 100
Cash at bank and in hand 132,570 38,931
133,403 39,031
Creditors: amounts falling due within one year 7 ( 1,009,754) ( 1,012,561)
Net current liabilities (876,351) (973,530)
Total assets less current liabilities 976,203 800,456
Provision for liabilities 8 ( 158,401) ( 126,214)
Net assets 817,802 674,242
Capital and reserves
Called-up share capital 100 100
Profit and loss account 817,702 674,142
Total shareholder's funds 817,802 674,242

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of High Oak Capital Ltd (registered number: 10267337) were approved and authorised for issue by the Director on 21 March 2025. They were signed on its behalf by:

R J W Hodson
Director
HIGH OAK CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
HIGH OAK CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

High Oak Capital Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1, Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of High Oak Capital Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 30 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Prior year adjustment

The comparative figures on the Statement of Income and Retained Earnings have been restated for presentational reallocation purposes only.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 0 0
Additions 2,747 2,747
At 30 June 2024 2,747 2,747
Accumulated depreciation
At 01 July 2023 0 0
Charge for the financial year 412 412
At 30 June 2024 412 412
Net book value
At 30 June 2024 2,335 2,335
At 30 June 2023 0 0

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 1,773,986 1,773,986
Additions 531,392 531,392
Disposals ( 674,873) ( 674,873)
Movement in fair value 219,714 219,714
At 30 June 2024 1,850,219 1,850,219
Carrying value at 30 June 2024 1,850,219 1,850,219
Carrying value at 30 June 2023 1,773,986 1,773,986

6. Debtors

2024 2023
£ £
Corporation tax 528 0
Other debtors 305 100
833 100

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 1,003,934 1,000,965
Accruals 5,820 5,490
Taxation and social security 0 6,106
1,009,754 1,012,561

There is a fixed charge held over the company's assets by UBS AG, London Branch, as per the terms on the Certificate of Registration, dated 16 November 2018 and delivered on 21 November 2018. At the year-end, this charge remains outstanding.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 126,214) ( 105,744)
Charged to the Statement of Income and Retained Earnings ( 32,187) ( 20,470)
At the end of financial year ( 158,401) ( 126,214)

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Loans made to Company by the director 2,969 1,000,000

At the year end, the Company owed the director £1,003,934 (2023 - £1,000,965). This loan is unsecured, interest free and repayable on demand.

10. Ultimate controlling party

The director does not consider there to be an ultimate controlling party.