Eram Capital Partners Limited |
Registered number: |
12371543 |
Balance Sheet |
as at 31 December 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
38,943,544 |
|
|
35,420,706 |
|
Current assets |
Debtors |
4 |
|
2,133,505 |
|
|
703,674 |
Cash at bank and in hand |
|
|
19,767 |
|
|
176,664 |
|
|
|
2,153,272 |
|
|
880,338 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,510,000) |
|
|
(723,681) |
|
Net current (liabilities)/assets |
|
|
|
(356,728) |
|
|
156,657 |
|
Total assets less current liabilities |
|
|
|
38,586,816 |
|
|
35,577,363 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(2,386,580) |
|
|
(2,446,626) |
|
Provisions for liabilities |
|
|
|
(6,876,998) |
|
|
(6,310,723) |
|
|
Net assets |
|
|
|
29,323,238 |
|
|
26,820,014 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
29,323,236 |
|
|
26,820,012 |
|
Shareholders' funds |
|
|
|
29,323,238 |
|
|
26,820,014 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
I K Ahmed |
Director |
Approved by the board on 20 November 2023 |
|
Eram Capital Partners Limited |
Notes to the Accounts |
for the year ended 31 December 2022 |
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|
1 |
Accounting policies |
|
|
Basis of preparation |
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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 VAT and trade discounts. Turnover includes revenue earned from the provision of consultancy services. Investment income are recognised |
|
|
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: |
|
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Fixed assets investments |
|
Fixed assets investments in quoted shares and similar investments are measured initially at cost and subsequently at fair value (their market value) at the reporting date. Investments in subsidiaries, associates, joint ventures and other 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. The company uses Discounted Cash Flow (DCF) methodology to value its unlisted investments. The riskiness in the valuation determinations (using the DCF methodology) is a function of a few things but namely: (i) the steepness (slowness) of the revenue curve expected (as received from the clients/tenants of the particular projects) with each of the project investments that have been valued and (ii) the inflation risks associated with the Capex to be incurred with the projects (in terms of how much the actual Capex to be incurred -- associated with the client/tenant onboarding -- will deviate from the budgeted Capex, due to inflationary effects). Both of these elements will impact (positively or negatively ) in the range of +/- 10 to 20% the valuations of the project investments that have been determined using the DCF methodology. |
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|
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. |
|
|
|
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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. |
|
|
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. |
|
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Taxation |
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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. |
|
|
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. |
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|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of employees (including directors) employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
|
Listed |
Other |
investments |
investments |
Total |
£ |
£ |
£ |
|
Fair value |
|
At 1 January 2022 |
2,918,775 |
|
32,501,931 |
|
35,420,706 |
|
Additions |
- |
|
408,747 |
|
408,747 |
|
Revaluation |
(1,422,809) |
|
4,536,900 |
|
3,114,091 |
|
|
At 31 December 2022 |
1,495,966 |
|
37,447,578 |
|
38,943,544 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 January 2022 |
1,576,139 |
|
763,933 |
|
At 31 December 2022 |
1,576,139 |
|
1,172,680 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Trade debtors |
1,926,362 |
|
622,135 |
|
Other debtors |
207,143 |
|
81,539 |
|
|
|
|
|
|
2,133,505 |
|
703,674 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
144,229 |
|
43,584 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Other loans |
350,975 |
|
- |
|
Trade creditors |
2,156,880 |
|
715,329 |
|
Taxation and social security costs |
145 |
|
6,352 |
|
Other creditors |
2,000 |
|
2,000 |
|
|
|
|
|
|
2,510,000 |
|
723,681 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
£ |
£ |
|
|
Other loans |
152,043 |
|
1,712,419 |
|
Directors' loans |
|
387,956 |
|
386,054 |
|
Other creditors |
1,846,581 |
|
348,153 |
|
|
|
|
|
|
2,386,580 |
|
2,446,626 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2022 |
|
2021 |
£ |
£ |
|
Other creditors include: |
|
|
Secured loans |
920,428 |
|
827,900 |
|
|
|
|
|
|
|
|
|
|
Other creditors include an amount of £920,428 (2021: £827,900) which is secured against the company's certain investments. |
|
|
8 |
Undistributable reserve |
|
|
Included within the profit and loss reserve is an amount of £29,633,667 (2021: £26,903,609) that represents unrealised profit arising on the revaluation of the company's investments. |
|
|
9 |
Related party transactions |
|
|
Included within debtors is an amount of £144,229 (2021: £43,584) owed by a company where I K Ahmed is a director. Included within creditors due over one year is an amount of £1,846,581 (2021: £1,712,419) owed to a company where I K Ahemd is a director. Included within creditors due over one year is an amount of £387,956 (2021: £386,054) owed to the directors of the company. |
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|
10 |
Other information |
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Eram Capital Partners Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
International House |
|
6 South Molton Street |
|
London |
|
W1K 5QF |