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Registration number: 14641315

Okaiwa Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Okaiwa Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Okaiwa Ltd

Company Information

Director

Kevin Valfin

Company secretary

Kevin Valfin

Registered office

71-75 Shelton Street
London
WC2H 9JQ

Accountants

IA Accountants
Chartered Accountants9 Barlings Road
Harpenden
Herts
AL5 2AL

 

Okaiwa Ltd

(Registration number: 14641315)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

972,713

126,176

Current assets

 

Cash at bank and in hand

 

65,495

8,970

Creditors: Amounts falling due within one year

5

(305,534)

(97,960)

Net current liabilities

 

(240,039)

(88,990)

Total assets less current liabilities

 

732,674

37,186

Creditors: Amounts falling due after more than one year

5

(440,861)

-

Net assets

 

291,813

37,186

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

210,920

-

Retained earnings

80,892

37,185

Shareholders' funds

 

291,813

37,186

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2025
 

.........................................
Kevin Valfin
Company secretary and director

 

Okaiwa Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
71-75 Shelton Street
London
WC2H 9JQ
United Kingdom

These financial statements were authorised for issue by the director on 8 August 2025.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Okaiwa Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Okaiwa Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2024

126,176

126,176

Revaluations

731,079

731,079

Additions acquired separately

115,458

115,458

At 28 February 2025

972,713

972,713

Amortisation

Carrying amount

At 28 February 2025

972,713

972,713

At 29 February 2024

126,176

126,176

Intangible assets carried at revalued amounts

The fair value of the company's Cryptocurrencies was revalued on 28 February 2025. An independent valuer was not involved.
Cryptocurrencies are valued using the exchange prices at the period end.
The valuation difference is taken to the revaluation reserve. Where there are also liabilities in cryptocurrencies these are also revalued and the valuation difference taken to the revaluation reserve.
.
Had this class of asset been measured on a historical cost basis, their carrying amount would have been £240,634 (2024 - £126,176).

 

Okaiwa Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

5

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

18,975

8,723

Accruals and deferred income

280,600

2,500

Other creditors

5,959

86,737

305,534

97,960

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

440,861

-

6

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

210,920

210,920

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

440,861

-

8

Related party transactions

The company loans to and from the director are in fiat and cryptocurrencies.
Where the balance is in a cryptocurrency this is revalued using exchange prices at the end of the period and the valuation difference is posted to the revaluation reserve.

Loans to related parties

 

Okaiwa Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

2025

Key management
£

Total
£

At start of period

(86,737)

(86,737)

Advanced

286,928

286,928

Repaid

(126,855)

(126,855)

Impairment

(520,157)

(520,157)

At end of period

(446,821)

(446,821)

2024

Key management
£

Total
£

Advanced

(86,737)

(86,737)

At end of period

(86,737)

(86,737)