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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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COMPANY INFORMATION
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CONTENTS
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GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The director presents his strategic report for the year ended 31 December 2024.
1OAK Capital Limited carries out asset management and advisory services for MiFID professional clients. 1Oak Capital Limited is fully owned by its holding company Investor Solutions UK Limited.
The director and the Board are satisfied with the new business development for 2024 and the expansion of new credit products for institutional and family offices. Despite the global uncertainty caused by the French and US elections and the conflicts in Israel and Ukraine and the consequent market volatility, the business continued to build on the progress made in the last couple of years with an increase in revenues derived from the very large institutional client in Italy and new investment grade product launches and solutions that have expanded our client footprint. The authorisation of the Italian Branch by the Bank of Italy and Consob has enabled the team to provide Advisory services to a number of new financial institutions. The success of the team was recognised at the Forbes Wealth annual awards winning the best Overseas Independent Advisor category. AUM continued to grow across both the Asset Management business and Wealth Advisory division. In June 2023, the firm submitted a Variation of Permissions (VoP) application to the FCA to expand its permissions by adding the retail customer type to certain existing permissions. This was intended to enable 1OAK to act as the principal for Gather International Limited, which aimed to operate a discretionary managed investment platform. In February 2024, the FCA approved Gather as an Appointed Representative of 1OAK Capital. However, Gather was cancelled as an AR in September 2024, and GNT Corporation Limited (formerly Gather) was appointed as an AR of 1OAK in October 2024. The firm also reviewed its policies and procedures in light of the FCA’s Consumer Duty Regulations and has appointed a Consumer Duty Champion to drive the business forward in this new regulatory environment. Future Prospects Italy has continued to be a core focus for 2024 to build on the successes of the previous years. In 2024, we were in the process of obtaining authorization in Italy to conduct cross-border activities (execution and allocation). This would enable the firm to expand its business and enhance its client offerings, which had previously been limited to advisory services under the CONSOB authorization for the Italian branch. However, due to new business developments in other areas and cost-reduction considerations, the firm also evaluated the possibility of cancelling all authorizations and licenses held by the Italian branch. The formal cancellation is expected to take place in 2025, most likely in the second quarter of the year. Since April 2024, Ubaldo Palmidoro, in his capacity as Italy Branch Manager, has been appointed as a Board Member and assigned the responsibility of overseeing and managing any potential conflicts of interest. He will be appointed as a Director of 1OAK Capital Limited in 2025. Strategically we will look to increase the number of coverage personnel for Turkey, Spain and Italy. In the UK we will continue to grow our relationship with BlackRock launching a Managed Portfolio Service utilising their asset allocation models for both Onshore and Offshore advisors. Additionally, we are planning on launching a product into Latin America via strategic collaborations. In the Q2 2025 we are planning to launch Chrome (credit absolute return), a diversified systematic synthetic trading program on the DB select platform and managed by 1Oak capital Limited.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The board reviews a range of risks on a monthly and quarterly basis. Core risks are as follows:
Regulatory Risk The Board and Senior management is conscious of the ever changing regulatory environment in which we operate and ensuring that we embrace these changes is a matter of high priority for us. Our culture is about putting the client first and we are aware that the concept of good conduct and customer duty must start with senior management and cascade down throughout the firm. Regulatory and legal changes have the potential to materially affect the firm’s performance however senior management with their compliance partner, KROLL Advisory Ltd., regularly review on a monthly and quarterly basis and liaise with our Italian Branch. Credit Risk Credit Credit risk is the risk that counterparties will not be able to fulfil their obligations as they fall due. It is the company's policy to monitor all such balances on a constant basis in order to minimise losses. Liquidity Risk The Group ensures that liquidity is maintained by monitoring cash balances and maintaining sufficient bank balances to cover day to day expenses of the business. Interest Rate Risk At this time the Group does not have any significant exposures to interest rate risk; should the circumstances change this policy will be reviewed. Key Personnel The loss of or inability to recruit key personnel could have a material adverse effect, although 1Oak has a strong record of retaining key personnel. Operational Risk 1Oak employs a dedicated Chief Risk officer to monitor and manage all market related risk. We also continue to engage KROLL Advisory Ltd to provide compliance support. Both report to senior management on a monthly basis.
The following table summarises the key performance indicators used by the director to assess the performance of the group as of the dates and period indicated:
2024 2023 £ £ Sales 2,799,075 3,082,422 Operating profit 272,166 284,841 Operating profit margin 9.7% 9.2%
The director believes there are numerous non-financial performance indicators, but none are individually key to assessing the overall performance of the group.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Employment
The Group’s employees are critical to the success of the business and the Group actively retains staff with the following polices: Employees are kept as fully informed as possible about the activities of the business. This is achieved mainly by both informal and formal team meetings. The Group, subject to overall financial performance and individual achievements, looks to reward outstanding individuals with an annual discretionary bonus scheme that is open to all employees. Equal opportunities are offered to all, regardless of gender, race, ethnicity or national origin, sexual orientation, religious belief, colour, disability, marital status or age. All applicants are treated equally in respect of recruitment, promotion, training, pay and other employment policies and practices. All decisions are based on merit. Under no circumstances will discrimination against any individual or group be tolerated. Business Relationships In order for the Group to continue its success and grow organically it relies on enhancing the existing client relationships and ensuring that the culture of treating customers fairly is driven from the senior management throughout the organisation. It also relies heavily on building professional relationships with strategic external suppliers that provide invaluable support and expertise in a number of areas especially finance, compliance and law. We continue to build on the long-term relationships that we have. Environment The Group has adopted a no plastics and recycle where you can policy. Shareholders Senior management, being the sole and major shareholders of the business, are focused on delivering long term equity returns and increasing firm value.
This report was approved by the board on 16 September 2025 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors who served during the year were:
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £137,356 (2023 - £183,225).
There were no dividends declared in the year.
There are no plans which will significantly change the activties and risks of the Group.
1Oak Capital Limited operates a branch in Italy. The results of the branch are included in the consolidated results.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Under section 487(2) of the Companies Act 2006, Sopher + Co LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INVESTOR SOLUTIONS UK LIMITED
We have audited the financial statements of Investor Solutions UK Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Group Statement of Comprehensive Income, the Group and Company Statements of Financial Position, the Group Statement of Cash Flows, the Group and Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. In connection with our audit of the financial statements, our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In connection with our audit of the financial statements, our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. In connection with our audit of the financial statements, our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INVESTOR SOLUTIONS UK LIMITED (CONTINUED)
Other information (continued)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
∙the parent Company financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
As explained more fully in the Directors' Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INVESTOR SOLUTIONS UK LIMITED (CONTINUED)
In connection with our audit of the financial statements, our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the Group through discussions with directors and other management, and from our commercial knowledge and experience of the financial sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, health and safety legislation and regulations set by the Financial Conduct Authority;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
∙understanding the design of the Company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF INVESTOR SOLUTIONS UK LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2025.
The notes on pages 16 to 28 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 16 to 28 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investor Solutions UK Limited is a private limited company incorporated in England and Wales, with its registered office address and principal place of business at 2 Charles Street London, W1J 5DB
The principal activity of the company is that of a holding company. The principal activity of the group is that of an Investment manager. The subsidiary company is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Consolidated Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. Turnover consists of management fees and performance fees. Management fees are recognised monthly as they accrue and performance fees are recognised when they become payable to the group.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Comprehensive Income.
Basic financial instruments include trade and other debtors, trade and other creditors, cash and cash equivalents and loans to or from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors, other debtors and loans to related parties. Cash and cash equivalents comprise cash balances and call deposits.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income. The contributions are recognised as an expense in the Consolidated Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the group in independently administered funds.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Determining the recovery of trade debtors. In making this judgement management take into account the customer's credit risk, debt ageing and payment history. In addition, for fees that are contingent upon a third party event, the directors will assess the likelihood of the venture being successful. There are no critical estimates that materially affect the accounts.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £NIL (2023 - £NIL).
Page 22
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 23
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 24
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 25
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
The Group contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £23,790 (2023 - £19,310). Contributions totalling £10,688 (2023 - £15,168) were payable to the fund at the reporting date.
Page 27
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate controlling party is G Bonaccorso.
Page 28
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