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REGISTERED NUMBER: 07684742 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

OGA Ventures Limited

OGA Ventures Limited (Registered number: 07684742)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OGA Ventures Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: A J Pettit





REGISTERED OFFICE: 3 Park Square East
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 07684742 (England and Wales)





ACCOUNTANTS: Fortus Limited
3 Park Square East
Leeds
LS1 2NE

OGA Ventures Limited (Registered number: 07684742)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £   
FIXED ASSETS
Investments 4 1,760,323 1,884,866

CREDITORS
Amounts falling due within one year 5 7,053 6,153
NET CURRENT LIABILITIES (7,053 ) (6,153 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,753,270 1,878,713

CREDITORS
Amounts falling due after more than
one year

6

1,926,976

1,900,377
NET LIABILITIES (173,706 ) (21,664 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Fair value reserve 8 (170,588 ) (17,802 )
Retained earnings 8 (3,119 ) (3,863 )
SHAREHOLDERS' FUNDS (173,706 ) (21,664 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

OGA Ventures Limited (Registered number: 07684742)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





A J Pettit - Director


OGA Ventures Limited (Registered number: 07684742)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

OGA Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

OGA Ventures Limited (Registered number: 07684742)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provision of Section 11 `Basic Financial Instruments' and Section 12 `Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other that those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed whet the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.


OGA Ventures Limited (Registered number: 07684742)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is ant contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference share that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OGA Ventures Limited (Registered number: 07684742)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 1,884,866
Additions 67,172
Disposals (40,573 )
Share of profit/(loss) (151,142 )
At 30 June 2024 1,760,323
NET BOOK VALUE
At 30 June 2024 1,760,323
At 30 June 2023 1,884,866

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Directors' current accounts 5,253 5,253
Accruals and deferred income 1,800 900
7,053 6,153

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Unsecured loan notes 1,926,976 1,900,377

OGA Ventures Limited (Registered number: 07684742)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 (3,863 ) (17,802 ) (21,665 )
Profit for the year 744 744
Fair value reserve - (152,786 ) (152,786 )
At 30 June 2024 (3,119 ) (170,588 ) (173,707 )

9. RELATED PARTY DISCLOSURES

During the year the company invested £NIL (2023 £30,501) in Lumley Properties (SHIV) LLP. The director A J Pettit is also a designated member of Lumley Properties (SHIV) LLP.

During the year the company invested £52,131 (2023 £19,115) in Lumley Properties (KHV) Investors LLP of which £Nil (2023 £NIL) was repaid during the year. The director A J Pettit is also a designated member of Lumley Properties (KHV) Investors LLP.

During the year the company invested £15,041 (2023 £32,543) in Lumley Properties (Whitebery II) First Investors LLP. The director A J Pettit is also a designated member of Lumley Properties (Whitebery II) First Investors LLP.