Oakvale Capital LLP - Accounts to registrar (filleted) - small 18.2
Oakvale Capital LLP - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2020 |
| for |
| OAKVALE CAPITAL LLP |
| OAKVALE CAPITAL LLP (REGISTERED NUMBER: OC369646) |
| Contents of the Financial Statements |
| for the year ended 31 December 2020 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| OAKVALE CAPITAL LLP |
| General Information |
| for the year ended 31 December 2020 |
| Designated members: |
| Brahminy Group Ltd |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| OAKVALE CAPITAL LLP (REGISTERED NUMBER: OC369646) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| and |
| Net assets attributable to members | 3,849,647 | 1,862,506 |
| Loans and other debts due to members | 8 | 3,849,647 | 1,862,506 |
| Total members' interests |
| Loans and other debts due to members | 8 | 3,849,647 | 1,862,506 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| OAKVALE CAPITAL LLP (REGISTERED NUMBER: OC369646) |
| Notes to the Financial Statements |
| for the year ended 31 December 2020 |
| 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 |
| 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. |
| OAKVALE CAPITAL LLP (REGISTERED NUMBER: OC369646) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 2. | Accounting policies - continued |
| 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 FRS103. 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 |
| 4. | Tangible fixed assets |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| Depreciation |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| Net book value |
| At 31 December 2020 |
| At 31 December 2019 |
| OAKVALE CAPITAL LLP (REGISTERED NUMBER: OC369646) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 January 2020 |
| and 31 December 2020 |
| Net book value |
| At 31 December 2020 |
| At 31 December 2019 |
| The LLP owns 100% shareholding in Oakvale Capital Advisory Ltd. |
| 6. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Loans and other debts due to members |
| 2020 | 2019 |
| £ | £ |
| Analysis of loans |
| Loans from members | 1,862,506 | 1,160,876 |
| Amounts owed to members in respect of profits | 1,987,141 | 701,630 |
| 3,849,647 | 1,862,506 |
| In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |