Company No: 08091877 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.07.2023		30.04.2022
		£		£
Fixed assets
Investments	3	706,823		706,823
		706,823		706,823
Creditors: amounts falling due within one year	4	0		( 391,978)
Net current liabilities		0		(391,978)
Total assets less current liabilities		706,823		314,845
Creditors: amounts falling due after more than one year	5	0		( 18,335)
Net assets		706,823		296,510
Capital and reserves
Called-up share capital	6	1,103		202,359
Capital redemption reserve		1,103		73,134
Profit and loss account		704,617		21,017
Total shareholders' funds		706,823		296,510

For the financial period ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Oakwood Media Holdco Limited (registered number: 08091877) were approved and authorised for issue by the Director on 15 November 2023. They were signed on its behalf by:

Mr N D A Sims Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oakwood Media Holdco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is 7 Park Street, Bristol, BS1 5NF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The period of the financial statements is more than twelve months as during the year the Company's year end was extended to 31 July 2023. The comparative amounts presented in the financial statements, including the related notes, are therefore not entirely comparable.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Period from 01.05.2022 to 31.07.2023		Year ended 30.04.2022
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	2		2

3. Fixed asset investments

Investments in subsidiaries

	31.07.2023
	£
Cost
At 01 May 2022	706,823
Additions	339,376
At 31 July 2023	1,046,199
Provisions for impairment
At 01 May 2022	0
Disposals	339,376
At 31 July 2023	339,376
Carrying value at 31 July 2023	706,823
Carrying value at 30 April 2022	706,823

During the period, the Company acquired and subsequently disposed of the entire issued share capital in Mischievous Wolf Limited by way of a dividend-in-specie of the shares.

Investments in shares

Name of entity	Registered office	Nature of business	Class of shares	Ownership 31.07.2023	Ownership 30.04.2022
Oakwood Media Group Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Advertising	Ordinary	100.00%	100.00%
Mischievous Wolf Limited	7 Park Street, Bristol, BS1 5NF	Advertising	Ordinary	0.00%	0.00%

4. Creditors: amounts falling due within one year

	31.07.2023		30.04.2022
	£		£
Amounts owed to Group undertakings	0		391,978

5. Creditors: amounts falling due after more than one year

	31.07.2023		30.04.2022
	£		£
Other creditors	0		18,335

There are no amounts included above in respect of which any security has been given by the small entity.

Other creditors previously consisted of preference shares which were entitled to a fixed dividend at 1.0% per annum and were redeemable at par at any time at the option of the company. The shares were converted to Ordinary shares during the period.

6. Called-up share capital

	31.07.2023		30.04.2022
	£		£
Allotted, called-up and fully-paid
nil Ordinary shares (30.04.2022: 694 shares of £ 1.00 each)	0		694
110,347 Ordinary A shares of £ 0.01 each (30.04.2022: nil shares)	1,103		0
nil Ordinary B shares (30.04.2022: nil shares)	0		0
	1,103		694
nil Preference non-redeemable shares (30.04.2022: 201,665 shares of £ 1.00 each)	0		201,665
	1,103		202,359

During the period 220,000 preference shares, including 201,665 non-redeemable preference shares and 18,335 redeemable preference shares, were converted at par into 220,000 Ordinary shares of £1 each.

220,694 Ordinary shares of £1 each were reduced to 220,694 Ordinary shares of £0.01 each.

220,694 Ordinary shares of £0.01 each were reclassified to 110,347 Ordinary A and 110,347 Ordinary B shares of £0.01 each.

At the period end, 110,347 Ordinary B shares of £0.01 each were repurchased by the Company and cancelled.

7. Related party transactions

During the year the directors received dividends totalling £667,761 (2022: £264,200).

The company has taken advantage of the exemption in Section 1AC.35 of FRS 102 and not disclosed related party transactions with companies within the group.