Oakbrook Finance Limited - Period Ending 2015-03-31

Registration number: 07831517

Oakbrook Finance Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Oakbrook Finance Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Oakbrook Finance Limited
(Registration number: 07831517)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					152,694			141,397
Investments					100			200
					152,794			141,597
Current assets
Debtors		3			15,888,435			3,969,267
Cash at bank and in hand					2,136,324			963,507
					18,024,759			4,932,774
Creditors: Amounts falling due within one year					(1,006,676)			(653,892)
Net current assets					17,018,083			4,278,882
Total assets less current liabilities					17,170,877			4,420,479
Creditors: Amounts falling due after more than one year					(25,081,300)			(7,208,473)
Net liabilities					(7,910,423)			(2,787,994)
Capital and reserves
Called up share capital		5			1			1
Profit and loss account					(7,910,424)			(2,787,995)
Shareholders' deficit					(7,910,423)			(2,787,994)

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Oakbrook Finance Limited
(Registration number: 07831517)
Abbreviated Balance Sheet at 31 March 2015
......... continued

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 August 2015 and signed on its behalf by:

.........................................
M J Onyett
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Oakbrook Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The company has prepared its accounts on a going concern basis with the continued support of its holding company.
The directors believe that it remains apropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers and in respect of interest receivable in relation to loans advanced to customers.

Government grants

Capital grants are recognised in the profit and loss account over the expected useful life of the assets to which they relate. Revenue grants are recognised in the profit and loss account over the period to which the grant relates. The balance of capital and revenue grants not yet recognised in the profit and loss account is included in creditors on the balance sheet.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% per annum straight line basis
Office equipment	33.33% per annum straight line basis

Research and development

Expenditure on research and development is written off against profits in the year in which it is incurred.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Page 3

Oakbrook Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		161,635			200			161,835
Additions		57,072			-			57,072
Disposals		-			(100)			(100)
At 31 March 2015		218,707			100			218,807
Depreciation
At 1 April 2014		20,238			-			20,238
Charge for the year		45,775			-			45,775
At 31 March 2015		66,013			-			66,013
Net book value
At 31 March 2015		152,694			100			152,794
At 31 March 2014		141,397			200			141,597

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Sequensis Limited	UK	£1 Ordinary shares	100%	software consultancy and supply

3

Debtors

Debtors includes £13,206,763 (2014 - £1,848,523) receivable after more than one year.

 

Page 4

Oakbrook Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		24,267			-
Amounts falling due after more than one year		10,642,864			-
Total secured creditors		10,667,131			-

5	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

6

Control

The company is controlled by Oakbrook Holdings Limited a company incorporated in Jersey.

Page 5