Registered number
10294934
Alanda Capital Management Limited
Report and Financial Statements
31 March 2023
Alanda Capital Management Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Strategic report 4
Independent auditor's report 5
Income statement 8
Statement of financial position 9
Statement of changes in equity 10
Statement of cash flows 11
Notes to the financial statements 12
Alanda Capital Management Limited
Company Information
Director
C Vogel-Claussen
Auditors
Adams, Mitchell
109 Gloucester Place
London
W1U 6JW
Registered office
166 Piccadilly
London
W1J 9EF
Registered number
10294934
Alanda Capital Management Limited
Registered number: 10294934
Director's Report
The director presents his report and financial statements for the year ended 31 March 2023.
Principal activities
The company's principal activities during the year continued to be that of support services for fund management.
Future developments
The company intends to operate in a simlar manner to hitherto with no plans for significant change ina ctivites.
Directors
The following persons served as directors during the year:
C Vogel-Claussen
Director's responsibilities
The director is responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Disclosure of information to auditors
The director confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he 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 auditor is aware of that information.
This report was approved by the board on 22 December 2023 and signed on its behalf.
C Vogel-Claussen
Director
Alanda Capital Management Limited
Strategic Report
The company has continued to provide administrative and sales support to operating companies in the wider Alanda group, which are under common control but separate from this company. The company's objective is to be broadly break even over the medium term as a support entity, and accordingly the key operating indicators are sufficient cash resources to enable core functions to be exercised.

The principal risks the company faces are economic circumstances which would prevent customers from generating sufficient profits to pay for the company's services, and general economic conditions which deter investors placing funds out for investment. The risks are mitigated by having a small, highly focussed team, with minimal overhead costs, which can be changed at short notice.

The company has maintained a reasonable position at the year end, having sufficient permanent share capital to support its operations, despite an operating loss during the year. Net assets stood at £1.28m at the year end, with cash at bank being £310k, which covers approximately 3 months costs.
This report was approved by the board on 22 December 2023 and signed on its behalf.
C Vogel-Claussen
Director
Alanda Capital Management Limited
Independent auditor's report
to the member of Alanda Capital Management Limited
Opinion
We have audited the financial statements of Alanda Capital Management Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, 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 the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
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 company 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 directors' 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 company'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 directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors 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 directors 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 directors are responsible for assessing the company’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 directors either intend to liquidate the company 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.
As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit. To identify risks of material misstatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud .Our risk assessment procedures included obtaining an understanding of the legal and regulatory framework under which the company operates, including the Companies Act 2006, taxation legislation, GDPR, employment, health & safety and FCA regulations; enquiring of the director and senior staff, in particular whether they have knowledge of any actual suspected or alleged fraud. Based on this understanding, we also performed procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at 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 company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company'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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Andrew Mitchell
(Senior Statutory Auditor) 109 Gloucester Place
for and on behalf of
Adams, Mitchell London
Statutory Auditor
22 December 2023 W1U 6JW
Alanda Capital Management Limited
Income Statement
for the year ended 31 March 2023
Notes 2023 2022
£ £
Turnover 2 1,193,565 1,534,155
Administrative expenses (1,368,187) (1,749,885)
Operating loss 3 (174,622) (215,730)
Interest receivable 228 773
Interest payable 5 - (224)
Loss on ordinary activities before taxation (174,394) (215,181)
Tax on loss on ordinary activities 6 (807) -
Loss for the financial year (175,201) (215,181)
Alanda Capital Management Limited
Statement of Financial Position
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 7 2 475
Current assets
Debtors 8 1,251,620 1,258,239
Cash at bank and in hand 310,101 420,861
1,561,721 1,679,100
Creditors: amounts falling due within one year 9 (295,613) (238,264)
Net current assets 1,266,108 1,440,836
Net assets 1,266,110 1,441,311
Capital and reserves
Called up share capital 10 2,074,200 2,074,200
Profit and loss account 11 (808,090) (632,889)
Total equity 1,266,110 1,441,311
C Vogel-Claussen
Director
Approved by the board on 22 December 2023
Alanda Capital Management Limited
Statement of Changes in Equity
for the year ended 31 March 2023
Share Profit Total
capital and loss
account
£ £ £
At 1 April 2021 2,074,200 (417,708) 1,656,492
Loss for the financial year (215,181) (215,181)
At 31 March 2022 2,074,200 (632,889) 1,441,311
At 1 April 2022 2,074,200 (632,889) 1,441,311
Loss for the financial year (175,201) (175,201)
At 31 March 2023 2,074,200 (808,090) 1,266,110
Alanda Capital Management Limited
Statement of Cash Flows
for the year ended 31 March 2023
Notes 2023 2022
£ £
Operating activities
Loss for the financial year (175,201) (215,181)
Adjustments for:
Interest receivable (228) (773)
Interest payable - 224
Tax on loss on ordinary activities 807 -
Depreciation 473 10,019
Decrease in debtors 6,619 1,036,015
Increase/(decrease) in creditors 41,740 (534,999)
(125,790) 295,305
Interest received 228 773
Interest paid - (224)
Corporation tax paid 15,043 479
Cash (used in)/generated by operating activities (110,519) 296,333
Investing activities
Proceeds from sale of tangible fixed assets - 7,642
Cash generated by investing activities - 7,642
Net cash (used)/generated
Cash (used in)/generated by operating activities (110,519) 296,333
Cash generated by investing activities - 7,642
Net cash (used)/generated (110,519) 303,975
Cash and cash equivalents at 1 April 420,620 116,645
Cash and cash equivalents at 31 March 310,101 420,620
Cash and cash equivalents comprise:
Cash at bank 310,101 420,861
Bank overdrafts 9 - (241)
310,101 420,620
Alanda Capital Management Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Summary of significant accounting policies
Basis of preparation
The financial statements 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from commission and from the rendering of services, including investment services agreements. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Revenue is recognised over the life of an investment service agreement on the basis of effort expended as a proportion of the estimated total effort which will be required over the life of the contract.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
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.
Taxation
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.
Provisions
Provisions (i.e. 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Analysis of turnover 2023 2022
£ £
Services rendered 1,193,565 1,534,155
By geographical market:
Europe 1,193,565 1,534,155
3 Operating profit 2023 2022
£ £
This is stated after charging:
Depreciation of owned fixed assets 473 10,019
Operating lease rentals - land and buildings 159,147 91,398
Auditors' remuneration for audit services 10,000 4,000
4 Staff costs 2023 2022
£ £
Wages and salaries 596,209 977,781
Social security costs 101,339 119,485
Other pension costs 6,161 9,486
703,709 1,106,752
Average number of employees during the year Number Number
Administration 6 8
6 8
5 Interest payable 2023 2022
£ £
Other loans - 224
6 Taxation 2023 2022
£ £
Analysis of charge in period
Current tax:
Adjustments in respect of previous periods 807 -
Tax on profit on ordinary activities 807 -
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2023 2022
£ £
Loss on ordinary activities before tax (174,394) (215,181)
Standard rate of corporation tax in the UK 19% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax (33,135) (40,884)
Effects of:
Expenses not deductible for tax purposes 2,620 4,274
Tax losses carried forward 30,515 36,610
Adjustments to tax charge in respect of previous periods 807 -
Current tax charge for period 807 -
7 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Total
At cost At cost
£ £ £
Cost or valuation
At 1 April 2022 54,650 13,736 68,386
At 31 March 2023 54,650 13,736 68,386
Depreciation
At 1 April 2022 54,649 13,262 67,911
Charge for the year - 473 473
At 31 March 2023 54,649 13,735 68,384
Carrying amount
At 31 March 2023 1 1 2
At 31 March 2022 1 474 475
8 Debtors 2023 2022
£ £
Trade debtors 427,446 545,172
Other debtors 253,827 375,623
Prepayments and accrued income 570,347 337,444
1,251,620 1,258,239
9 Creditors: amounts falling due within one year 2023 2022
£ £
Bank overdrafts - 241
Trade creditors 191,600 54,858
Corporation tax 15,850 -
Other taxes and social security costs 11,722 38,502
Other creditors 30,766 41,681
Accruals and deferred income 45,675 102,982
295,613 238,264
10 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2,074,200 2,074,200 2,074,200
11 Profit and loss account 2023 2022
£ £
At 1 April (632,889) (417,708)
Loss for the financial year (175,201) (215,181)
At 31 March (808,090) (632,889)
12 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C Vogel-Claussen
Director's loan account with no fixed terms 44,524 45,962 (13,890) 76,596
44,524 45,962 (13,890) 76,596
13 Related party transactions
The company provides services to entities which are under common control. All turnover is derived from such related parties. At the balance sheet date, the company was owed £535,413 (2022 - £631,374) by related parties and owed £21,248 (2022 - nil) to related parties.
14 Controlling party
The company is under the control of the director.
15 Presentation currency
The financial statements are presented in Sterling.
16 Legal form of entity and country of incorporation
Alanda Capital Management Limited is a private company limited by shares and incorporated in England.
17 Principal place of business
The address of the company's principal place of business and registered office is:
166 Piccadilly
London
W1J 9EF
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