Limited Liability Partnership Registration No. OC361162 (England and Wales)
Edale Capital LLP
Annual report and financial statements
for the year ended 31 March 2022
Edale Capital LLP
Limited liability partnership information
Designated members
Edale Capital (Services) Limited
Rupert Dyson
Limited liability partnership number
OC361162
Registered office
33 St James's Square
London
SW1Y 4JS
Independent auditor
Saffery Champness LLP
Westpoint
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6FZ
Business address
33 St James's Square
London
SW1Y 4JS
Bankers
Coutts & Co
440 Strand
London
WC2R 0QS
Edale Capital LLP
Contents
Page
Members' report
1 - 2
Members' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Reconciliation of members' interests
10 - 11
Statement of cash flows
12
Notes to the financial statements
13 - 21
Edale Capital LLP
Members' report
For the year ended 31 March 2022
Page 1

The members present their annual report and financial statements for the year ended 31 March 2022.

Principal activities
The principal activity of the limited liability partnership continued to be that of investment management.
Fair review of the business
The results for the year and the financial position at the year end were considered satisfactory by the members who expect growth in the foreseeable future.
Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

Edale Capital (Services) Limited
Rupert Dyson
Policy on members' drawings

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

 

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Auditor

The auditor, Saffery Champness LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

Each of the members in office at the date of approval of this annual report confirms that:

 

Going concern

The members have reviewed the company’s cash flow forecasts for the period of 12 months from date of signing the financial statements in the light of the current economic climate. The partnership has the financial support from Rupert Dyson and are well placed to weather the challenges that the current economic climate presents. For these reasons the members have adopted the going concern basis of accounting in preparing the financial statements.

Edale Capital LLP
Members' report (continued)
For the year ended 31 March 2022
Page 2
On behalf of the members
Rupert Dyson
Designated Member
13 July 2022
Edale Capital LLP
Members' responsibilities statement
For the year ended 31 March 2022
Page 3

The members are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (FRS 102 and applicable law).

Under company law as applied to limited liability partnerships, the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.

In preparing those financial statements, the members are required to:

- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP’s transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The members are responsible for the maintenance and integrity of the corporate and financial information included on the LLP’s website.

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The responsibilities are exercised by the designated members on behalf of the members.

Edale Capital LLP
Independent auditor's report
To the members of Edale Capital LLP
Page 4
Opinion

We have audited the financial statements of Edale Capital LLP (the 'limited liability partnership') for the year ended 31 March 2022 which comprise the statement of comprehensive income, the statement of financial position, the reconciliation of members' interests, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the limited liability partnership’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Edale Capital LLP
Independent auditor's report (continued)
To the members of Edale Capital LLP
Page 5

Other information

The members are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to limited liability partnerships requires us to report to you if, in our opinion:

 

Responsibilities of members

As explained more fully in the members' responsibilities statement, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the members are responsible for assessing the limited liability partnership's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the limited liability partnership or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Edale Capital LLP
Independent auditor's report (continued)
To the members of Edale Capital LLP
Page 6

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

 

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the limited liability partnership’s financial statements to material misstatement and how fraud might occur, including through discussions with the members, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the limited liability partnership by discussions with members and by updating our understanding of the sector in which the limited liability partnership operates.

 

Laws and regulations of direct significance in the context of the LLP include The Companies Act 2006, UK Tax legislation and The Financial Services and Markets Act 2000, on which The Financial Conduct Authority (FCA) Handbook is based.

 

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the limited liability partnership's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the limited liability partnership's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

 

The LLP is regulated by the FCA. We discussed the LLP’s authorisation and permitted activities with the SMF16 and obtained evidence of this from the FCA register. We obtained additional evidence about compliance by discussing any breaches with the SMF16 and SMF17 and reviewing correspondence with the FCA.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Edale Capital LLP
Independent auditor's report (continued)
To the members of Edale Capital LLP
Page 7

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the limited liability partnership's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to limited liability partnerships. Our audit work has been undertaken so that we might state to the limited liability partnership's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the limited liability partnership and the limited liability partnership's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ross Lomas (Senior Statutory Auditor)
For and on behalf of Saffery Champness LLP
15 July 2022
Chartered Accountants
Statutory Auditors
Westpoint
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6FZ
Edale Capital LLP
Statement of total comprehensive income
For the year ended 31 March 2022
Page 8
2022
2021
Notes
£
£
Turnover
2
801,806
495,881
Cost of sales
(77,579)
(74,903)
Gross profit
724,227
420,978
Administrative expenses
(609,590)
(307,239)
Profit for the financial year before members' remuneration and profit shares
114,637
113,739
Profit for the financial year before members' remuneration and profit shares
114,637
113,739
Members' remuneration charged as an expense
5
-
-
Profit for the financial year available for discretionary division among members
114,637
113,739
Total comprehensive income for the year
114,637
113,739

The income statement has been prepared on the basis that all operations are continuing operations.

There is no other comprehensive income other than that passing through the income statement.
The notes on pages 11 to 19 form part of these financial statements.
Edale Capital LLP
Statement of financial position
As at 31 March 2022
Page 9
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
6
4,007
-
Current assets
Debtors
7
279,095
218,495
Cash at bank and in hand
351,778
192,984
630,873
411,479
Creditors: amounts falling due within one year
9
(230,316)
(121,552)
Net current assets
400,557
289,927
Total assets less current liabilities
404,564
289,927
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
114,637
113,739
Other amounts
89,927
(23,812)
10
204,564
89,927
Members' capital classified as liability
200,000
200,000
404,564
289,927
Total members' interests
Loans and other debts due to members
204,564
89,927
Members' other interests
200,000
200,000
404,564
289,927
The notes on pages 11 to 19 form part of these financial statements.
The financial statements were approved by the members and authorised for issue on 13 July 2022 and are signed on their behalf by:
13 July 2022
Rupert Dyson
Designated member
Limited Liability Partnership Registration No. OC361162
Edale Capital LLP
Reconciliation of members' interests
For the year ended 31 March 2022
Page 10
Current financial year
Equity
Debt
Total
Members' other interests
Members'
interests
Members' capital (classified as liability)
Other reserves
Total
Other amounts
Total
Total
2022
£
£
£
£
£
£
Amount due to members
89,927
Members' interests at 1 April 2021
200,000
-
200,000
89,927
89,927
289,927
Profit for the financial year available for discretionary division among members
-
114,637
114,637
-
-
114,637
Members' interests after profit for the year
200,000
114,637
314,637
89,927
89,927
404,564
Allocation of profit for the financial year
-
(114,637)
(114,637)
114,637
114,637
-
Members' interests at 31 March 2022
200,000
-
200,000
204,564
204,564
404,564
Amounts due to members
204,564
204,564
Edale Capital LLP
Reconciliation of members' interests (continued)
For the year ended 31 March 2022
Page 11
Prior financial year
Equity
Debt
Total
Members' other interests
Members'
interests
Members' capital (classified as liability)
Other reserves
Total
Other amounts
Total
Total
2021
£
£
£
£
£
£
Amount due to members
(23,812)
Members' interests at 1 April 2020
200,000
-
200,000
(23,812)
(23,812)
176,188
Profit for the financial year available for discretionary division among members
-
113,739
113,739
-
-
113,739
Members' interests after profit for the year
200,000
113,739
313,739
(23,812)
(23,812)
289,927
Allocation of profit for the financial year
-
(113,739)
(113,739)
113,739
113,739
-
Members' interests at 31 March 2021
200,000
-
200,000
89,927
89,927
289,927
Amounts due to members
89,927
89,927
Edale Capital LLP
Statement of cash flows
For the year ended 31 March 2022
Page 12
2022
2021
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
14
165,788
61,999
Investing activities
Purchase of tangible fixed assets
(6,994)
-
Net cash used in investing activities
(6,994)
-
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
158,794
61,999
Cash and cash equivalents at beginning of year
192,984
130,985
Cash and cash equivalents at end of year
351,778
192,984
The notes on pages 11 to 19 form part of these financial statements.
Edale Capital LLP
Notes to the financial statements
For the year ended 31 March 2022
Page 13
1
Accounting policies
Limited liability partnership information

Edale Capital LLP is a limited liability partnership incorporated in England and Wales. The registered office is 33 St James's Square, London, SW1Y 4JS.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover represents investment management services receivable net of VAT and trade discounts.
Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
1
Accounting policies (continued)
Page 14
1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
1
Accounting policies (continued)
Page 15
1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Classification of financial liabilities

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities, including creditors, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
1
Accounting policies (continued)
Page 16
Other financial liabilities

Other financial liabilities, including debt instruments that do not meet the definition of a basic financial instrument, are measured at fair value through profit or loss.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

1.8
Taxation

The taxation payable on the partnership profits is solely the personal liability of the individual members consequently neither partnership taxation nor related deferred taxation arising in respect of the partnership are accounted for in these financial statements.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 17
2
Turnover

An analysis of the limited liability partnership's turnover is as follows:

2022
2021
£
£
Turnover analysed by class of business
Principal activity
724,227
420,978
Recharges
77,579
74,903
801,806
495,881
2022
2021
£
£
Turnover analysed by geographical market
United Kingdom
801,806
495,881
3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2022
2021
Number
Number
Admin
3
2

Their aggregate remuneration comprised:

2022
2021
£
£
Wages and salaries
366,017
164,600
Social security costs
43,052
16,280
409,069
180,880
Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 18
4
Operating profit
2022
2021
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
1,412
735
Fees payable to the LLP's auditors for the audit of the LLP's annual accounts
6,950
4,850
Depreciation of owned tangible fixed assets
2,987
-
Operating lease charges
54,957
31,653
5
Information in relation to members
2022
2021
Number
Number
Average number of members during the year
2
2
6
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2021
7,746
Additions
6,994
At 31 March 2022
14,740
Depreciation and impairment
At 1 April 2021
7,746
Depreciation charged in the year
2,987
At 31 March 2022
10,733
Carrying amount
At 31 March 2022
4,007
At 31 March 2021
-
Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 19
7
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
52,264
19,719
Other debtors
13,001
18,828
Prepayments and accrued income
213,830
179,948
279,095
218,495
8
Financial instruments
2022
2021
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
61,964
27,437
Carrying amount of financial liabilities
Measured at amortised cost
424,155
206,964
9
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
18,508
23,104
Other taxation and social security
10,725
4,515
Accruals and deferred income
201,083
93,933
230,316
121,552
10
Loans and other debts due to members
2022
2021
£
£
Analysis of loans
Amounts falling due within one year
204,564
89,927

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 20
11
Operating lease commitments
Lessee

Edale Capital LLP

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2022
2021
£
£
Within one year
60,283
49,975
12
Related party transactions
Transactions with related parties

During the year the limited liability partnership entered into the following transactions with related parties:

Sales
2022
2021
£
£
Other related parties
534,513
268,770

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due to related parties
£
£
Key management personnel
589
4,208

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the LLP
52,264
19,719
Other related parties
189,715
158,803
Edale Capital LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 21
13
Analysis of changes in net funds
1 April 2021
Cash flows
31 March 2022
£
£
£
Cash at bank and in hand
192,984
158,794
351,778
Loans and other debts due to members:
- Other amounts due to members
(89,927)
(114,637)
(204,564)
Balances including members' debt
103,057
44,157
147,214
14
Cash generated from operations
2022
2021
£
£
Profit for the year
114,637
113,739
Adjustments for:
Depreciation and impairment of tangible fixed assets
2,987
-
Movements in working capital:
(Increase) in debtors
(60,600)
(101,700)
Increase in creditors
108,764
49,960
Cash generated from operations
165,788
61,999
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