Registered number
06263220
HCAM Asset Management UK Ltd
Filleted Accounts
31 December 2021
HCAM Asset Management UK Ltd
Registered number: 06263220
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 441 129
Investments 4 62,100 51,100
62,541 51,229
Current assets
Debtors 5 69,275 98,717
Cash at bank and in hand 90,233 39,801
159,508 138,518
Creditors: amounts falling due within one year 6 (123,205) (86,208)
Net current assets 36,303 52,310
Net assets 98,844 103,539
Capital and reserves
Called up share capital 600 100
Share premium 61,500 -
Profits capitalised (62,000) -
Profit and loss account 98,744 103,439
Shareholder's funds 98,844 103,539
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C P Volkamer
Director
Approved by the board on 10 August 2022
HCAM Asset Management UK Ltd
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 11,010
Additions 662
At 31 December 2021 11,672
Depreciation
At 1 January 2021 10,881
Charge for the year 350
At 31 December 2021 11,231
Net book value
At 31 December 2021 441
At 31 December 2020 129
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2021 51,100
Additions 12,000
Disposals (1,000)
At 31 December 2021 62,100
Historical cost
At 1 January 2021 51,100
At 31 December 2021 62,100
5 Debtors 2021 2020
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 65,916 92,632
Other debtors 3,359 6,085
69,275 98,717
6 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 1,424 22,713
Subsidiaries 4,333 2,484
Ernst Russ AG 68,282 37,548
Corporation tax 2,479 -
Other taxes and social security costs 14,687 3,721
Other creditors 32,000 19,742
123,205 86,208
7 Related party transactions 2021 2020
£ £
HSC Investment Management UK Ltd Reg No. 09022825
100% Owned Subsidiary company
Post tax profit in year -21496 69
Shareholders funds at year end 63113 76029
Invoiced for fees and cost recharges 129210 145580
[Amount due from (to) the related party] 57305 73479
[Provision for doubtful debt due from related party] -
[Amounts written off in the period] -
HSC Optivita UK I General Partner Ltd Reg.No. 06263145
CP Volkamer is a director
Invoiced for fees and cost recharges 1300 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita UK II General Partner Ltd Reg.No. 06263148
CP Volkamer is a director
Invoiced for fees and cost recharges 1300 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita UK III General Partner Ltd Reg.No. 06263137
CP Volkamer is a director
Invoiced for fees and cost recharges 1300 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita VII UK General Partner Ltd Reg. No. 06263109
CP Volkamer is a director
Invoiced for fees and cost recharges 1313 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita VIII UK General Partner Ltd Reg.No. 06263139
CP Volkamer is a director
Invoiced for fees and cost recharges 1313 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita X UK General Partner Ltd Reg. No. 06263138
CP Volkamer is a director
Invoiced for fees and cost recharges 1313 548
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita XI UK General Partner Ltd Reg.No. 06507068
CP Volkamer is a director
Invoiced for fees and cost recharges 1313 525
[Amount due from (to) the related party] 525 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita UK I LP Reg.No. LP009973
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 0 0
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita UK II LP Reg.No. LP010558
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 4584 18337
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita UK III LP Reg. No. LP010559
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 3279 13117
[Amount due from (to) the related party] 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita VII UK LP Reg.No. LP011273
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 20466 18457
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita VIII UK LP Reg.No. LP011487
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 12670 11977
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita X UK LP Reg.No. LP012284
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 29778 26197
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
HSC Optivita XI UK LP Reg.No. LP012840
CP Volkamer is a director of the General Partner
Invoiced for fees and cost recharges 21620 19417
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party] - -
[Amounts written off in the period] - -
TEP One Capital Ltd Reg.No. 04806555
CP Volkamer is a director
Invoiced for fees and cost recharges 3583 3583
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party]
[Amounts written off in the period]
TEP Two Capital Ltd Reg.No. 05803765
CP Volkamer is a director
Invoiced for fees and cost recharges 43583 3583
[Amount due from (to) the related party] 0 0
[Provision for doubtful debt due from related party]
[Amounts written off in the period]
TEP Three Capital Ltd Reg.No. 06057173
CP Volkamer is a director
Invoiced for fees and cost recharges 43583 3583
[Amount due from (to) the related party] 0
[Provision for doubtful debt due from related party]
[Amounts written off in the period]
8 Controlling party
The immediate parent of the company is HCAM Hanseatische Capital Asset Management GMBH.This company is registered in Hamburg, Germay
The ultimate parent is Ernst Russ AG (formerly HCI Capital AG) a company registered in Germany whose shares are publicly traded.
At the balance sheet date the amount owed to the ultimate
parent company was 68282 37,548
9 Other information
HCAM Asset Management UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
141A New Road
Ascot
BERKS
SL5 8QA
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