Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC327240 2022-04-01 2023-03-31 OC327240 2021-04-01 2022-03-31 OC327240 2023-03-31 OC327240 2022-03-31 OC327240 c:OfficeEquipment 2022-04-01 2023-03-31 OC327240 c:OfficeEquipment 2023-03-31 OC327240 c:OfficeEquipment 2022-03-31 OC327240 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC327240 c:CurrentFinancialInstruments 2023-03-31 OC327240 c:CurrentFinancialInstruments 2022-03-31 OC327240 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC327240 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC327240 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 OC327240 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 OC327240 d:FRS102 2022-04-01 2023-03-31 OC327240 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC327240 d:FullAccounts 2022-04-01 2023-03-31 OC327240 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC327240 2 2022-04-01 2023-03-31 OC327240 d:PartnerLLP1 2022-04-01 2023-03-31 OC327240 d:PartnerLLP2 2022-04-01 2023-03-31 OC327240 d:PartnerLLP3 2022-04-01 2023-03-31 OC327240 d:PartnerLLP4 2022-04-01 2023-03-31 OC327240 d:PartnerLLP5 2022-04-01 2023-03-31 OC327240 d:PartnerLLP6 2022-04-01 2023-03-31 OC327240 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC327240 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC327240 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC327240 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC327240 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC327240 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC327240


 
 
 
 
 
 
 
 
ALEXIS FUND MANAGEMENT LLP
 
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2023

 
ALEXIS FUND MANAGEMENT LLP
 

INFORMATION





Designated Members

S Gorman
C A Gorman

Members

S Gorman
C A Gorman
Weftdale Securities Limited
SCG Consultancy LLP

LLP registered number

OC327240

Registered office

1st Floor Sackville House143-149 Fenchurch StreetLondonEC3M 6BL


 
ALEXIS FUND MANAGEMENT LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 9


 
ALEXIS FUND MANAGEMENT LLP
REGISTERED NUMBER: OC327240

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
$
$

FIXED ASSETS
  

Tangible assets
 4 
10,750
11,153

CURRENT ASSETS
  

Debtors
 5 
2,966
2,952

Current asset investments
 6 
6,658,466
6,559,298

Cash at bank and in hand
  
2,925,172
4,509,044

  
9,586,604
11,071,294

Creditors: Amounts falling due within one yeaar
 7 
(11,128)
(11,372)

NET CURRENT ASSETS
  
 
 
9,575,476
 
 
11,059,922

  

NET ASSETS
  
9,586,226
11,071,075


REPRESENTED BY:
  

LOANS AND OTHER DEBTS DUE TO MEMBERS WITHIN ONE YEAR
  

Members' capital classified as a liability
  
630,345
630,345

Other amounts
 9 
(3,286,788)
(2,292,156)

  
(2,656,443)
(1,661,811)

MEMBERS' OTHER INTERESTS
  

Members' capital classified as equity
  
7,111,162
7,111,162

Other reserves classified as equity
  
5,131,507
5,621,724

  
 
12,242,669
 
12,732,886

  
9,586,226
11,071,075


TOTAL MEMBERS' INTERESTS
  

Loans and other debts due to members
 9 
(2,656,443)
(1,661,811)

Members' other interests
  
12,242,669
12,732,886

  
9,586,226
11,071,075


Page 1

 
ALEXIS FUND MANAGEMENT LLP
REGISTERED NUMBER: OC327240

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the Members' Report and the Statement of Comprehensive Income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 28 November 2023.




C A Gorman
Designated member

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 

 
ALEXIS FUND MANAGEMENT LLP


 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023








EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Members' capital (classified as debt)
Other amounts
Total
Total

$
$
$
$
$
$
$

Members' remuneration charged as an expense
-
-
-
-
72,658
72,658
72,658

Profit for the year available for discretionary division among members
 
-
169,541
169,541
-
-
-
169,541

MEMBERS' INTERESTS AFTER PROFIT FOR THE YEAR
7,111,162
5,621,724
12,732,886
630,345
(1,471,791)
(841,446)
11,891,440

Amounts introduced by members
-
-
-
-
74,538
74,538
74,538

Drawings on account and distribution of profit
-
-
-
-
(894,903)
(894,903)
(894,903)

Amounts due to members
630,345
(2,292,156)
(1,661,811)

BALANCE AT 31 MARCH 2022
7,111,162
5,621,724
12,732,886
630,345
(2,292,156)
(1,661,811)
11,071,075

Members' remuneration charged as an expense
-
-
-
-
(210,094)
(210,094)
(210,094)

Loss for the year available for discretionary division among members
 
-
(490,217)
(490,217)
-
-
-
(490,217)

MEMBERS' INTERESTS AFTER PROFIT FOR THE YEAR
7,111,162
5,131,507
12,242,669
630,345
(2,502,250)
(1,871,905)
10,370,764

Amounts introduced by members
-
-
-
-
6,236
6,236
6,236

Drawings on account and distribution of profit
-
-
-
-
(790,774)
(790,774)
(790,774)

Amounts due to members
630,345
(3,286,788)
(2,656,443)

BALANCE AT 31 MARCH 2023 
7,111,162
5,131,507
12,242,669
630,345
(3,286,788)
(2,656,443)
9,586,226

The notes on pages 4 to 9 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

Alexis Fund Management LLP (LLP number: OC327240), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL, is a limited liability partnership incorporated in England and Wales. The company's trading address is 94 Winnington Road, London, N2 0TU.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The LLP has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small LLP.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency
The LLP's functional and presentational currency is US dollars.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period-end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

Page 4

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

OPERATING LEASES: THE LLP AS LESSEE

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

INTEREST INCOME

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

  
2.7

TAXATION PROVISIONS

Taxation on the profits of the LLP is solely the liability of the individual members. Therefore there is neither income tax nor deferred tax arising in respect of the LLP's profit is recognised in the financial statements.

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The LLP adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the LLP. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Page 5

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.8
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

CREDITORS

Short-term creditors are measured at the transaction price.

Page 6

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

FINANCIAL INSTRUMENTS

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the Statement of Comprehensive Income in finance costs or income as appropriate. The LLP does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

  
2.13

CURRENT ASSET INVESTMENTS

Current asset investments are recognised at market value. 


3.


EMPLOYEES

The entity has no employees.


4.


TANGIBLE FIXED ASSETS





Office equipment

$



COST


At 1 April 2021 and 31 March 2022
81,590


Additions
3,591



At 31 March 2023

85,181



DEPRECIATION


At 1 April 2022
70,437


Charge for the year
3,994



At 31 March 2023

74,431



NET BOOK VALUE



At 31 March 2023
10,750



At 31 March 2022
11,153

Page 7

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


DEBTORS

2023
2022
$
$

Due within one year

Other debtors
1,327
1,327

Prepayments and accrued income
1,639
1,625

2,966
2,952



6.


CURRENT ASSET INVESTMENTS

2023
2022
$
$

Listed investments
6,658,466
6,559,298


The market value of listed investments at 31 March 2023 was $6,658,466 (2022: $6,559,298).


7.


CREDITORS: Amounts falling due within one year

2023
2022
$
$

Accruals and deferred income
11,128
11,372



8.


FINANCIAL INSTRUMENTS

2023
2022
$
$

FINANCIAL ASSETS


Financial assets measured at fair value through profit or loss
9,583,638
11,068,342




Financial assets measured at fair value through profit or loss comprise current asset investments and cash at bank and in hand.

Page 8

 
ALEXIS FUND MANAGEMENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


LOANS AND OTHER DEBTS DUE TO MEMBERS


2023
2022
$
$



Members' capital treated as debt
630,345
630,345

Other amounts due to members
(3,286,788)
(2,292,156)

(2,656,443)
(1,661,811)

Loans and other debts due to members may be further analysed as follows:

2023
2022
$
$



Falling due within one year
2,656,443
1,661,811

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


Page 9