for the Period Ended 31 December 2022
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2022
Principal activities of the company
Additional information
INCORPORATIONThe Company is a private limited company incorporated in the United Kingdom and commenced trading on 10 June 1999 and its registered office to 31 May 2023 was at 120 New Cavendish Street, London, W1W 6XX. On 1 June 2023 the Company moved its registered office to 60-62 Margaret Street, London, W1W 8TF.RESULTS AND DIVIDENDThe operating results and state of affairs of the Company are fully set out in the attached Financial Statements and the notes thereto. The Company made a profit of EUR 14,134 (2021: profit of EUR 12,854).No dividends were proposed or declared during the year under review (2021: Nil).As at 31 December 2022, the Company is in a net current asset position of EUR 1,392,332. As disclosed in note 5 and in accordance with Investment Advisory Agreement, the Company receives investment advice from Quadriga Capital Eigenkapitalberatung GmbH and in turn provide investment advice to its associated companies, including Quadriga Capital IIIa GP Limited, Quadriga Capital IV GP Limited, Quadriga Capital GP Limited, Quadriga Capital V GP Limited and Quadriga Capital VI GP Limited. For its services, the Company receives investment advisory fees income. The total Investment Advisory Fee Income during the year amounted to EUR 4,078,797 (2021: EUR 6,939,697).The Directors of the Company have reviewed the financial statements of the associated companies and have assessed the current liquidity position of the Company taking into consideration the future expected cash flows including:- Cash flow emanating from the investment advisory fee Income from its associated companies;- Increase in the management and associated investment advisory fees emanating from the additional closings of Quadriga Capital Private Equity Fund VI LP following the agreed extension of the final close period to the 31 December 2023;- Income from the realisation of an investment in Quadriga Capital Private Equity IIIa LP. The sale is in advance stages which will result in management fees of EUR 3.0m and associated advisory fees of up to EUR 3.0m; and - A deal has been agreed for Quadriga Capital Private Equity Fund IV LP to sell its assets to a continuation vehicle, with a resulting advisory fee income of up to EUR 0.8m per annum from the continuation vehicle.Based on the above, the Directors conclude that no uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern for the next 18 months following the approval of the financial statement, therefore the Directors have adopted the going concern basis of preparation for the Financial Statements.The Directors have assessed the current situation regarding the Russian invasion of Ukraine and subsequent high inflation and energy prices. The Directors have come to the conclusion that due to the Company's lack of exposure to Russian or Ukrainian business as well as the Company's limited energy use the Company is still able to function with minimal effect to business. Due to this assessment the Directors have concluded that there is no material impact to the Company’s going concern. The Directors will continue to monitor the situation closely and adjust their outlook for the Company if they deem it necessary.DIRECTORS AND INTERESTSThe Directors of the Company during the year and to the date of this report are listed below:Stephan Jaax (resigned 31 December 2022)William Nigel Campion-SmithJonathan WildPeter Besthof (appointed 1 January 2023)The Directors have no undisclosed beneficial interests in the Company.SMALL COMPANY PROVISIONS'This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.OWNERSHIP OF THE COMPANYAs at 31 December 2022 the shares are held by:Quadriga Capital IIIa GP Limited - 1 shareQuadriga Capital IV GP Limited - 1 shareQuadriga Capital GP Limited - 1 shareQuadriga Capital V GP Limited - 1 shareQuadriga Capital VI GP Limited - 1 shareULTIMATE CONTROLLING PARTYAs of 21 June 2023 the Directors consider the Chariot Charitable Trust Limited, to be the ultimate controlling party of the Company.SECRETARYThe secretary of the Company at 31 December 2022 and to the date of this report was Nicole Henriques.INDEPENDENT AUDITORSThe Directors have reappointed PricewaterhouseCoopers CI LLP as independent auditors for the Financial Statements for the year ended 31 December 2022. PricewaterhouseCoopers CI LLP have indicated their willingness to continue in office.DIRECTORS' RESPONSIBILITIESThe Directors are responsible for preparing the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards comprising Financial Reporting Standard 102 Section 1A, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland - Small Entities" ("FRS 102 Section 1A").The Companies Act 2006 requires the Directors to prepare Financial Statements for each financial year which give a true and fair view of the state of the affairs of the Company and of the profit or loss of the Company for that year. In preparing those Financial Statements, the Directors are required to:- select suitable accounting policies and then apply them consistently;- make judgements and estimates that are reasonable and prudent;- state whether applicable accounting standards including FRS 102 Section 1A have been followed, subject to any material departures disclosed and explained in the Financial Statements; and- prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.The Directors confirm that they have complied with the above requirements in preparing the Financial Statements.So far as the Directors are aware, there is no relevant audit information of which the Company's auditors are unaware, and each Director has taken all the steps that he ought to have taken as a Director in order to make himself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Directors
The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022
The director shown below has held office during the whole of the period from
1 January 2022 to 31 December 2022
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2022 | 2021 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | | |
Profit(or loss) before tax: | | |
Tax: | ( | ( |
Profit(or loss) for the financial year: | | |
As at
Notes | 2022 | 2021 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | 3 | | |
Investments: | | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | | | |
Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | | | |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | | | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2022
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2022
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 January 2022 | | | | |||
Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 December 2022 | | | | |||
Depreciation | ||||||
At 1 January 2022 | | | | |||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 December 2022 | | | | |||
Net book value | ||||||
At 31 December 2022 | | | | |||
At 31 December 2021 | | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Other debtors | | |
Total | | |
Debtors due after more than one year: | | |
for the Period Ended 31 December 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
for the Period Ended 31 December 2022