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COMPANY REGISTRATION NUMBER: 06954202
White Oak Ventures Limited
Filleted Unaudited Financial Statements
29 March 2024
White Oak Ventures Limited
Financial Statements
Year ended 29 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
White Oak Ventures Limited
Statement of Financial Position
29 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
7,385
7,661
Investments
6
10,661,463
10,812,681
-------------
-------------
10,668,848
10,820,342
Current assets
Stocks
44,845
44,845
Debtors
7
7,878,508
7,281,624
Cash at bank and in hand
61,801
27,079
------------
------------
7,985,154
7,353,548
Creditors: amounts falling due within one year
8
3,565,249
3,279,380
------------
------------
Net current assets
4,419,905
4,074,168
-------------
-------------
Total assets less current liabilities
15,088,753
14,894,510
-------------
-------------
Net assets
15,088,753
14,894,510
-------------
-------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
15,088,653
14,894,410
-------------
-------------
Shareholders funds
15,088,753
14,894,510
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
White Oak Ventures Limited
Statement of Financial Position (continued)
29 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr J S Espinosa
Director
Company registration number: 06954202
White Oak Ventures Limited
Notes to the Financial Statements
Year ended 29 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 30 March 2023
15,968
18,046
34,014
Additions
3,595
3,595
--------
--------
--------
At 29 March 2024
15,968
21,641
37,609
--------
--------
--------
Depreciation
At 30 March 2023
15,612
10,741
26,353
Charge for the year
89
3,782
3,871
--------
--------
--------
At 29 March 2024
15,701
14,523
30,224
--------
--------
--------
Carrying amount
At 29 March 2024
267
7,118
7,385
--------
--------
--------
At 29 March 2023
356
7,305
7,661
--------
--------
--------
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 30 March 2023
100
10,812,581
10,812,681
Additions
8,022
8,022
Disposals
( 65,599)
( 65,599)
Revaluations
( 307,862)
( 307,862)
Transfers
( 273,353)
( 273,353)
Other movements
487,574
487,574
----
-------------
-------------
At 29 March 2024
100
10,661,363
10,661,463
----
-------------
-------------
Impairment
At 30 March 2023 and 29 March 2024
----
-------------
-------------
Carrying amount
At 29 March 2024
100
10,661,363
10,661,463
----
-------------
-------------
At 29 March 2023
100
10,812,581
10,812,681
----
-------------
-------------
7. Debtors
2024
2023
£
£
Other debtors
7,878,508
7,281,624
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,500
8,951
Corporation tax
405,836
375,353
Other creditors
3,154,913
2,895,076
------------
------------
3,565,249
3,279,380
------------
------------
9. Directors' advances, credits and guarantees
At the year end the company was owed £3,830,577 (2023: £3,356,171) by a director. During the year advances of £647,898 were paid to the director and repayments of £255,466 were made by the director. Interest of £81,974 (2023: £63,201) was charged on the loan.
10. Related party transactions
At the year end the company owed £3,153,113 (2023: £2,893,276) to a group company and was owed £2,888,957 (2023: £2,948,727) by a company related by virtue of common control.