ACCOUNTS - Final Accounts

OGHMA CORPORATE FINANCE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312021-04-01false66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08319254 2021-04-01 2022-03-31 08319254 2020-04-01 2021-03-31 08319254 2022-03-31 08319254 2021-03-31 08319254 c:Director1 2021-04-01 2022-03-31 08319254 c:Director2 2021-04-01 2022-03-31 08319254 d:CurrentFinancialInstruments 2022-03-31 08319254 d:CurrentFinancialInstruments 2021-03-31 08319254 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08319254 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 08319254 d:ShareCapital 2022-03-31 08319254 d:ShareCapital 2021-03-31 08319254 d:RetainedEarningsAccumulatedLosses 2022-03-31 08319254 d:RetainedEarningsAccumulatedLosses 2021-03-31 08319254 c:OrdinaryShareClass1 2021-04-01 2022-03-31 08319254 c:OrdinaryShareClass1 2022-03-31 08319254 c:OrdinaryShareClass1 2021-03-31 08319254 c:FRS102 2021-04-01 2022-03-31 08319254 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 08319254 c:FullAccounts 2021-04-01 2022-03-31 08319254 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 08319254 2 2021-04-01 2022-03-31 08319254 6 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08319254

OGHMA CORPORATE FINANCE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

OGHMA CORPORATE FINANCE LIMITED

REGISTERED NUMBER: 08319254

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		20,000		38,774
Current assets
Debtors: amounts falling due within one year	5	334,192		182,330
Bank and cash balances		13,312		9,433
		347,504		191,763
Creditors: amounts falling due within one year	6	(252,974)		(212,222)
Net current assets/(liabilities)			94,530		(20,459)

Net assets			114,530		18,315

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		114,430	18,215
		114,530	18,315

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OGHMA CORPORATE FINANCE LIMITED

REGISTERED NUMBER: 08319254

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ M Lynch	................................................ T Owen
Director	Director
Date: 22 December 2022	Date:22 December 2022

The notes on pages 3 to 6 form part of these financial statements.

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OGHMA CORPORATE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

Oghma Corporate Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office address is 24 Old Bond Street, London, W1S 4AP.
The financial statement are presented in sterling which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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OGHMA CORPORATE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

Creditors

Short-term creditors are measured at the transaction price.

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 6).

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OGHMA CORPORATE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

4.	Fixed asset investments

		Unlisted investments
		£
	Cost
	At 1 April 2021	38,774
	Amounts written off	(18,774)
	At 31 March 2022	20,000

Debtors

					2022	2021
					£	£


Trade debtors	7,121	7,121
Amounts owed by joint ventures and associated undertakings	265,024	115,395
Other debtors	56,065	59,425
Prepayments and accrued income	5,776	389
Tax recoverable	206	-
	334,192	182,330

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	8,870	5
Corporation tax	24,699	7,596
Other taxation and social security	19,340	27,463
Other creditors	5,152	5,196
Accruals and deferred income	194,913	171,962
	252,974	212,222

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OGHMA CORPORATE FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

7.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

100 (2021 - 100) Ordinary shares of £1.00 each	100	100

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £27,071 (2021 - £26,618). Contributions totalling £13,555 (2021 - £12,312) were payable to the fund at the balance sheet date and are included in creditors.

9.	Related party transactions
	During the year, the company charged management fees of £422,500 (2021 - £424,333) to a partnership in which the company is a member. The balance due from them at the year end was £7,112 (2021 - £7,112).

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