Oisin Capital Investments II (UK) Limited - Period Ending 2020-03-31

Oisin Capital Investments II (UK) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Oisin Capital Investments II (UK) Limited

Company Information

Directors

E Gibbs G Spinks C O'Rourke

Company secretary

Dixon Wilson (Secretaries) Limited

Registered office

22 Chancery Lane London WC2A 1LS

Oisin Capital Investments II (UK) Limited

(Registration number: 09935874)

Balance Sheet as at 31 March 2020

	Note	2020 £	(As restated) 2019 £
Fixed assets
Investments	4	715,758	649,304
Current assets
Debtors	5	1,679	121
Cash at bank		34,003	55,632
		35,682	55,753
Creditors: Amounts falling due within one year	6	(690,268)	(669,937)
Net current liabilities		(654,586)	(614,184)
Total assets less current liabilities		61,172	35,120
Provisions for liabilities		(9,116)	(6,816)
Net assets		52,056	28,304
Capital and reserves
Called up share capital		1	1
Revenue reserves		52,055	28,303
Total equity		52,056	28,304

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Oisin Capital Investments II (UK) Limited

(Registration number: 09935874)

Balance Sheet as at 31 March 2020

Approved and authorised by the Board on 9 March 2021 and signed on its behalf by:
 

.........................................

G Spinks

Director

Oisin Capital Investments II (UK) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
22 Chancery Lane
London
WC2A 1LS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention except for investments which are recorded at fair value.

Cash flow statement

The accounts do not include a cash flow statement because the Company, as a small reporting entity, is exempt from the requirement to prepare such a statement under FRS102.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the impact of the Covid-19 pandemic on the going concern status of the company. The company's income has not been adversely impacted by the ongoing pandemic and government measures put in place to limit its spread, and the directors do not anticipate any financial difficulties in the 12 months from the approval of the balance sheet. The shareholder's have confirmed that they will not recall their loans for at least 12 months after the date the accounts are signed.

Oisin Capital Investments II (UK) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

Prior period errors

Non-cash accumulation dividends and realised gains on capital distributions were not recognised in the financial statements for the year ended 31 March 2019. The comparatives have been restated as follows:

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Investments	-	262	-
Investment income	-	559	-
Gian/(loss) on financial assets at fair value	-	(3,897)	-
Gian/(loss) on disposal of fixed asset investments	-	3,076	-

Dividend income

Dividend income is recognised when the right to receive payment is established.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different to those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Transactions in currencies other than Sterling have been translated to Sterling at the rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to Sterling at the rate ruling on the balance sheet date. Gains and losses arising from the translation of foreign currencies are dealt with in the income statement.

Oisin Capital Investments II (UK) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

Investments

Investments are carried at fair value with changes in fair value recognised in the profit and loss account.

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2019 - 0).

4	Investments

	Financial assets at fair value through profit and loss account £	Total £
Non-current financial assets
Revaluation
At 1 April 2019 (as restated)	649,304	649,304
Additions	143,906	143,906
Fair value adjustments	11,859	11,859
Disposals	(89,311)	(89,311)
At 31 March 2020	715,758	715,758
Carrying amount
At 31 March 2020	715,758	715,758
At 31 March 2019 (as restated)	649,304	649,304

5

Debtors

	2020 £	2019 £
Other debtors	1,679	121
	1,679	121

Oisin Capital Investments II (UK) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

6

Creditors

	2020 £	(As restated) 2019 £
Due within one year
Shareholder loan repayable	688,773	668,227
Taxation and social security	1,495	1,710
	690,268	669,937

7	Deferred tax and other provisions

	Deferred tax £	Total £
At 1 April 2019	6,816	6,816
Increase (decrease) in existing provisions	2,300	2,300
At 31 March 2020	9,116	9,116

8	Parent and ultimate parent undertaking

The company's immediate parent is Oisin Capital Holdings Limited as the General Partner of Oisin Capital II LP, incorporated in Jersey.