REGISTERED NUMBER: OC369646 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

OAKVALE CAPITAL LLP

Page

General Information

1

Report of the Members

2

Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

Designated members:

Green Bay Capital Ltd

Carbon Group Limited

Brahminy Group Ltd

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

OC369646 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

The members present their report with the financial statements of the LLP for the year ended 31 December 2025.

Principal activity

The principal activity of the LLP in the year under review was that of the provision of corporate financial consultancy and brokerage.

Designated members

The designated members during the year under review were:

Green Bay Capital Ltd

Carbon Group Limited

Brahminy Group Ltd

Results for the year and allocation to members

The profit for the year before members' remuneration and profit shares was £23,059,572 (2024 - £11,845,135 profit).

Members' interests

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Political donations and expenditure

All donations made in the year are not relating to political donations.

On behalf of the members:

Carbon Group Limited - Designated member

21 April 2026

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Oakvale Capital LLP for the year ended 31 December 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

This report is made solely to the members of Oakvale Capital LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oakvale Capital LLP and state those matters that we have agreed to state to the members of Oakvale Capital LLP, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Oakvale Capital LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakvale Capital LLP. You consider that Oakvale Capital LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oakvale Capital LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

21 April 2026

Turnover

28,530,196

16,193,162

Administrative expenses

(5,487,147

)

(4,390,428

)

23,043,049

11,802,734

Other operating income

7,889

30,438

Operating profit

23,050,938

11,833,172

Interest receivable and similar income

8,634

11,963

Profit for the financial year before members' remuneration and profit shares available for discretionary division among members

23,059,572

11,845,135

Fixed assets

Tangible assets

4

113,005

22,464

Investments

5

1

1

113,006

22,465

Current assets

Debtors

6

252,193

2,921,850

Cash at bank

3,773,287

1,909,168

4,025,480

4,831,018

Creditors

Amounts falling due within one year

7

(1,128,292

)

(991,729

)

Net current assets

2,897,188

3,839,289

Total assets less current liabilities

and

Net assets attributable to members

3,010,194

3,861,754

Loans and other debts due to members

8

3,010,194

3,861,754

Total members' interests

Loans and other debts due to members

8

3,010,194

3,861,754

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 21 April 2026 and were signed by:

Carbon Group Limited - Designated member

1.	Statutory information

Oakvale Capital LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for services net of VAT.

If, at the Balance sheet date, completion of contractual obligations is dependent on the external factors (and thus outside the control of the Limited Liability Partnership), the revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the costs of valuation of assets less their residual values over their useful lives on the following basis:

Land and buildings leasehold

10% & 20 % Straight Line Basis

Plant and machinery

20% Straight Line Basis

Fixtures, fittings & equipment

20% Reducing Balance Basis

Computer equipment

33% Straight Line Basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Members' participating interests

Members' participation right are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members; participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS102. A member;s participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debt due to members' to the extent they exceed debts due from a specific member.

3.	Employee information

The average number of employees during the year was 8 (2024 - 8 ) .

4.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 January 2025

87,550

112,327

199,877

Additions

-

125,507

125,507

At 31 December 2025

87,550

237,834

325,384

Depreciation

At 1 January 2025

87,550

89,863

177,413

Charge for year

-

34,966

34,966

At 31 December 2025

87,550

124,829

212,379

Net book value

At 31 December 2025

-

113,005

113,005

At 31 December 2024

-

22,464

22,464

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2025

and 31 December 2025

1

Net book value

At 31 December 2025

1

At 31 December 2024

1

The LLP owns 100% shareholding in Oakvale Capital Advisory Ltd.

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

106,398

2,112,521

Amounts owed by group undertakings

-

713,740

Other debtors

145,795

95,589

252,193

2,921,850

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

890

17,691

Taxation and social security

23,740

22,031

Other creditors

1,103,662

952,007

1,128,292

991,729

8.

Loans and other debts due to members

2025

2024

£

£

Analysis of loans

Loans from members

3,010,194

3,010,170

Amounts owed to/(from)members in respect of profits/losses

851,584

3,010,194

3,861,754

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.