Oval (2245) Limited - Limited company - abbreviated

REGISTERED NUMBER: 07851252 (England and Wales)

OVAL (2245) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

D P J Ross

N P Teagle

REGISTERED OFFICE:

Nuffield House

41-46 Piccadilly

London

W1J 0DS

REGISTERED NUMBER:

07851252 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Investments

2

4,439,901

-

CURRENT ASSETS

Debtors

1

Cash at bank

454

769

455

770

CREDITORS

Amounts falling due within one year

(6,763,179

)

(3,600

)

NET CURRENT LIABILITIES

(6,762,724

)

(2,830

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,322,823

)

(2,830

)

CREDITORS

Amounts falling due after more than one
year

-

(1,980,783

)

NET LIABILITIES

(2,322,823

)

(1,983,613

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(2,322,824

)

(1,983,614

)

SHAREHOLDERS' FUNDS

(2,322,823

)

(1,983,613

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 December 2014 and were signed on its behalf
by:

N P Teagle - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Interest receivable and payable

Interest amounts are accounted for on an accruals basis.

Investments

Fixed asset investments represent long term investments and are stated at cost less provision for permanent

diminution in value.

The company has invested in private equity limited partnerships, and receives a share in the profits or losses of

the funds in proportion to the amount of capital contributed by the investment partners. The value of the

investment is stated at the company's share of partner equity, as reported in the financial statements of the

investment partnership, excluding unrealised gains and losses, adjusted for exchange fluctuations.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2013

101,477

Additions

4,769,071

Disposals

(303,294

)

Exchange differences

(25,876

)

At 31 March 2014

4,541,378

PROVISIONS

At 1 April 2013

and 31 March 2014

101,477

NET BOOK VALUE

At 31 March 2014

4,439,901

At 31 March 2013

-

Unlisted investments include an investment of 6,874 Preferred voting shares of £1 each in Gift-Library.com

Limited, a company incorporated in England and Wales. This represents 100% of the Preferred voting shares,

but only 18.8% of the total issued shares. Preferred voting shares have no rights to dividends but have priority

payment entitlement in a distribution. The aggregate share capital and reserves of Gift-Library.com Limited as

at 31 January 2014 were £3,785,641 and the loss for the year ended 31 January 2014 was £1,441,780.

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

1

Ordinary

£1

1

4.	GOING CONCERN

The company's sole shareholder has confirmed his intention to continue to provide finance to enable the

company to meet its debts as they fall due for a period of at least 12 months from the date of approval of the

financial statements. As a consequence the directors believe the company is appropriately placed to manage

its business risks successfully and the financial statements are prepared on the going concern basis.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Oval (2245) Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Oval (2245) Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oval

(2245) Limited and state those matters that we have agreed to state to the Board of Directors of Oval (2245) Limited,

as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Oval (2245) Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Oval (2245)

Limited. You consider that Oval (2245) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oval (2245) Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial

statements.

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

24 December 2014

Oval (2245) Limited - Limited company - abbreviated - 11.6

Oval (2245) Limited - Limited company - abbreviated - 11.6