OVINGTON ASSET MANAGEMENT LTD

Company Registration Number:
10057461 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

OVINGTON ASSET MANAGEMENT LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

OVINGTON ASSET MANAGEMENT LTD

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Investments: 3 1,450,000 1,450,000
Total fixed assets: 1,450,000 1,450,000
Current assets
Debtors:   836,607 90,337
Cash at bank and in hand: 17,198 55,118
Total current assets: 853,805 145,455
Net current assets (liabilities): 853,805 145,455
Total assets less current liabilities: 2,303,805 1,595,455
Creditors: amounts falling due after more than one year:   (1,921,784) (1,248,263)
Total net assets (liabilities): 382,021 347,192
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:4320,281320,281
Profit and loss account: 61,640 26,811
Shareholders funds: 382,021 347,192

The notes form part of these financial statements

OVINGTON ASSET MANAGEMENT LTD

Balance sheet statements

For the year ending 31 March 2024 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 April 2025
and signed on behalf of the board by:

Name: Sidharth Narang
Status: Director

The notes form part of these financial statements

OVINGTON ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

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

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value added taxes and other sales taxes

Tangible fixed assets and depreciation policy

Depreciation has been provided at following annual rates in order to write off each assets over its estimated useful life, Plant & machinery- 20% on reducing balance method, Motor Vehicle-25% on reducing balance method, computer equipment’s -33% on reducing balance method.

Intangible fixed assets and amortisation policy

Intangible assets arc initially measured at cost. After Initial recognition, Intangible assets arc measured at cost less any accumulated amortization impairments loss. Computer software is being amortized evenly over its estimated useful life of 5 years

Other accounting policies

Statutory Information Ovington Asset Management Ltd is a company, limited by shares, registered in Not specified/ Others. The company's registered number and registered office address can be found on Company Information page. Accounting Policies Basis of preparing financial statements. These financial statements have been prepared in accordance with Financial Reporting Standard 101 "The Financial Reporting Standard applicable in UK and Republic of Ireland" including the provisions of section IA "Small Entities" and Companies Act 2006. The financial statement has been prepared under historical cost convention. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Goodwill, being the amount paid in connection with the acquisition of a business is 0, is being amortized evenly over its estimated useful life of nil years. Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortization and any accumulated impairment loss. Computer software is being amortized evenly over its estimated useful life of 5 years. Tangible Fixed Assets Depreciation has been provided at following annual rates in order to write off each assets over its estimated useful life. The investment in subsidiaries undertaking is recognized at cost. Stocks are valued at lower of cost and net realizable value, after making due allowances for obsolete and slow moving items. Taxation for the year comprises current and deferred tax. Tax is recognized in the income statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity Current or deferred taxation assets and liabilities are not discounted. Current tax is recognized at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred Tax is recognized in respect of all timing differences that have originated but have not been reversed at balance sheet date, The timing difference arise from inclusion of income and expenses in tax assessment in period difference from those in which they are recognized in financial statements. Deferred tax is measured using Tax rates and law that has been enacted or substantively enacted by year end and that are expected to apply to reversal of timing difference. Hire Purchase and leasing commitments Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

OVINGTON ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

OVINGTON ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Fixed investments

Fixed investments are recognized at cost.

OVINGTON ASSET MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Revaluation reserve

2024
£
Balance at 01 April 2023 320,281
Surplus or deficit after revaluation 0
Balance at 31 March 2024 320,281