A.S.K. Partners RCFCO Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

A.S.K. Partners RCFCO Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14388776 . The registered office is 35 Harley Street, London, W1G 9QU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have reviewed the company's financial position and cash flow forecasts for the foreseeable future. Based on this review, the directors are satisfied that the company has adequate resources to continue operating for the foreseeable future (being at least 12 months from the date of approval of these financial statements). Therefore, they continue to adopt the going concern basis in preparing the financial statements.

2.3. Turnover

Turnover comprises loan interest income and lending-related fees.

Loan Interest Income is recognized on an accrual basis over the period in which the interest accrues, reflecting the time value of money.

Lending Fees are recognized when received or capitalized, specifically when economic benefits flow to the entity, and the revenue amount can be reliably measured. This typically occurs when services are performed, and the company has an enforceable right to consideration.

2.4. Financial Instruments

Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise trade and other payables. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

2.5. Financial Liabilities - classified as basic financial instruments

Trade and other receivables and loans and lendings

Trade and other receivables are initially measured at the transaction price, including any directly attributable transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received.

Trade and other payables and loans and borrowings

Other payables are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

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A.S.K. Partners RCFCO Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Other debtors	26,042,380	7,954,533

5. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Amounts owed to participating interests	10,477	9,157
Other creditors	9,300	1,320

	19,777	10,477

6. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 December 2023
	£	£
Other loans	26,042,380	7,954,533

7. Loans

An analysis of the maturity of loans is given below:

	31 December 2024	31 December 2023
	£	£
Amounts falling due between one and five years:
Other loans	26,042,380	7,954,533

8. Share Capital

	31 December 2024	31 December 2023
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

9. Post Balance Sheet Events

There were no post balance sheet events after the balance sheet date that we aware of that would impact the financial statements as reported above.

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A.S.K. Partners RCFCO Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Related Party Disclosures

The company is a wholly owned subsidiary and has used the exemption under FRS 102.33.1A from disclosing transactions with other group companies.

Its results are included in the consolidated accounts of Oaknorth Bank Plc, registered at 3/F, 57 Broadwick Street, London, W1F 9QS.

Transactions with directors or key management are disclosed where required.

11. Controlling Parties

The immediate parent company is A.S.K Partners Limited, registered at 35 Harley Street, London, W1G 9QU. The ultimate controlling party is OakNorth Holdings Limited, registered at Ordnance House, 31 Pier Road, St Helier, Jersey, JE4 8PW

The largest group in which the results of the company are consolidated is that prepared by Oaknorth Bank Plc, registered at 3/F, 57 Broadwick Street, London, W1F 9QS.

12. Charges

A fixed and floating charge over the Company’s assets, dated 24 November 2022, has been granted in respect of the balance owed to OakNorth Bank plc.

13. Audit Information

The auditor's report on the accounts of A.S.K. Partners RCFCO Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Chris Evans BSc FCA (Senior Statutory Auditor) for and on behalf of Cooper Parry , Statutory Auditor.

Cooper Parry

Statutory Auditors

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

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		31 December 2024		31 December 2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	26,042,380		7,954,533

		26,042,380		7,954,533
Creditors: Amounts Falling Due Within One Year	5	(19,777 )		(10,477 )

NET CURRENT ASSETS (LIABILITIES)			26,022,603		7,944,056

TOTAL ASSETS LESS CURRENT LIABILITIES			26,022,603		7,944,056

Creditors: Amounts Falling Due After More Than One Year	6		(26,042,380 )		(7,954,533 )

NET LIABILITIES			(19,777 )		(10,477 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(19,778 )		(10,478 )

SHAREHOLDERS' FUNDS			(19,777)		(10,477)