Company registration number 09756588 (England and Wales)
EIGHT ADVISORY UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EIGHT ADVISORY UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EIGHT ADVISORY UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,300,160
252,159
Current assets
Debtors
5
12,976,893
5,398,790
Cash at bank and in hand
1,312,009
1,363,010
14,288,902
6,761,800
Creditors: amounts falling due within one year
6
(10,746,305)
(2,975,154)
Net current assets
3,542,597
3,786,646
Net assets
4,842,757
4,038,805
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
4,842,756
4,038,804
Total equity
4,842,757
4,038,805

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
J Welstead
Director
Company Registration No. 09756588
EIGHT ADVISORY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Eight Advisory UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 Pall Mall Street, London, SW1Y 5JG.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

 

These financial statements have been prepared in accordance with the provisions of FRS 102 section 1A small entities. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents consultancy work which is recognised as income in the period when the service is provided.

1.4
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:

Leasehold improvements
over the period of the lease
Fixtures, fittings & equipment
25% straight line

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 credited or charged to profit or loss.

1.5
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.

1.6
Financial instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

EIGHT ADVISORY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
51
33
EIGHT ADVISORY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
4
Tangible fixed assets
Leasehold improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
409,137
82,481
491,618
Additions
1,086,659
217,212
1,303,871
Disposals
(409,137)
-
0
(409,137)
At 31 December 2022
1,086,659
299,693
1,386,352
Depreciation and impairment
At 1 January 2022
167,172
72,287
239,459
Depreciation charged in the year
31,562
13,905
45,467
Eliminated in respect of disposals
(198,734)
-
0
(198,734)
At 31 December 2022
-
0
86,192
86,192
Carrying amount
At 31 December 2022
1,086,659
213,501
1,300,160
At 31 December 2021
241,965
10,194
252,159
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
2,784,966
1,609,321
Amounts owed by group undertakings
2,274,652
346,356
Other debtors
7,917,275
3,443,113
12,976,893
5,398,790
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
598,877
79,361
Amounts owed to group undertakings
4,919,647
401,507
Corporation tax
1,011,015
824,909
Other taxation and social security
475,183
136,454
Other creditors
3,741,583
1,532,923
10,746,305
2,975,154
EIGHT ADVISORY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Engin Zekia FCA
Statutory Auditor:
Gerald Edelman LLP
9
Operating lease commitments

Operating lease payments represent rentals by the company for its office premises.

 

 

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
6,914,142
1,609,089
10
Parent company

The ultimate parent company at the report date was Eight Partners Global S.A.S and immediate parent was Eight Advisory S.A.S, companies registered in France. The registered address of both companies is 40 rue de Courcelles, 75008, Paris.

11
Related party transactions

The company has taken advantage of the exemption available under FRS102 whereby it has not disclosed

any transactions and balances with fully owned group companies.

2022-12-312022-01-01false14 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedE DemuytP RaidronJ Welsteadfalse097565882022-01-012022-12-31097565882022-12-31097565882021-12-3109756588core:LandBuildings2022-12-3109756588core:OtherPropertyPlantEquipment2022-12-3109756588core:LandBuildings2021-12-3109756588core:OtherPropertyPlantEquipment2021-12-3109756588core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109756588core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3109756588core:CurrentFinancialInstruments2022-12-3109756588core:CurrentFinancialInstruments2021-12-3109756588core:ShareCapital2022-12-3109756588core:ShareCapital2021-12-3109756588core:RetainedEarningsAccumulatedLosses2022-12-3109756588core:RetainedEarningsAccumulatedLosses2021-12-3109756588bus:Director32022-01-012022-12-3109756588core:LandBuildingscore:LongLeaseholdAssets2022-01-012022-12-3109756588core:FurnitureFittings2022-01-012022-12-31097565882021-01-012021-12-3109756588core:LandBuildings2021-12-3109756588core:OtherPropertyPlantEquipment2021-12-31097565882021-12-3109756588core:LandBuildings2022-01-012022-12-3109756588core:OtherPropertyPlantEquipment2022-01-012022-12-3109756588core:WithinOneYear2022-12-3109756588core:WithinOneYear2021-12-3109756588bus:PrivateLimitedCompanyLtd2022-01-012022-12-3109756588bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3109756588bus:FRS1022022-01-012022-12-3109756588bus:Audited2022-01-012022-12-3109756588bus:Director12022-01-012022-12-3109756588bus:Director22022-01-012022-12-3109756588bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP