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REGISTERED NUMBER: 10773394 (England and Wales)












Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

Aurelius Finance Company Limited

Aurelius Finance Company Limited (Registered number: 10773394)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Aurelius Finance Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: K Dhir
T Nagler





REGISTERED OFFICE: 6th Floor
33 Glasshouse Street
London
W1B 5DB





REGISTERED NUMBER: 10773394 (England and Wales)





AUDITORS: Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

Aurelius Finance Company Limited (Registered number: 10773394)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The Company's primary business is direct lending to incorporated bodies. During the year the turnover of the Company has increased from £7.5m to 10.2m. The loan book has increased during the year to 57m from £41.4m.

All loans are appraised, and continually assessed using key performance indicators including: financing performance, liquidity, asset recovery values and loan to value ratios.

PRINCIPAL RISKS AND UNCERTAINTIES
The risks and uncertainties of direct lending and the provision of loans of this nature are complex and varied. Risks include credit risks, default risks liquidity risks and market risks. The principal risk is the ability of the borrower to service their obligations, and the ultimate recoverability of the loan - which can include factors external to the Company.

The Company is exposed to interest rate risks and currency exchange rate risks. Material movements could have a negative effect on holding value of its investments and/ or the Company's financial performance

The Aurelius management promptly analyses the situation of its portfolio companies in close consultation with the operating management teams of the group companies. The closeness to the group companies made it possible to devise and implement comprehensive action plans to protect the health of employees, minimise the risks to our business processes and soften the blow of the challenging external conditions at the different levels of holding companies and group companies.

ENGAGEMENT WITH EMPLOYEES
People create success. Our success is the result of the individual performance of every employee.
Respectful treatment of all employees.
Unconditional respect of human rights.
Conscious diversity and internationality of our workforce.
More jobs thanks to successful growth strategies.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Corporate codex
Principles such as responsible, sustainable management are firmly embedded in the Aurelius ESG (Environmental Social Governance) policy, including:
No investment in the arms industry.
No investment in emissions-intensive companies.
No trading in weapons or armaments, tobacco or tobacco products.
Code of Conduct for suppliers and service providers.
Anti-corruption and anti-bribery policy.
Protection and support for whistleblowers.


Aurelius Finance Company Limited (Registered number: 10773394)

Strategic Report
for the Year Ended 31 December 2023

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
Environment:
Goal for the year 2025: Reduce Group wide CO2 emissions by 30 percent.
Measures have been introduced to permanently reduced CO2 emissions.
Reduction of flights through the increased use of video conferences and online meetings and using train travel as an alternative.
Precautions to prevent environmental damage.
CO2 offsetting of the flights of all holding company employees since the 2019 financial year.

Social commitment:
Aurelius refugee initiative e.v. Aurelius has been helping refugees since 2015.
Extensive support of the START Foundation to promote outstanding young people with migration backgrounds since 2018.
Long established tradition: Christmas-season collection drive for important social projects; AURELIUS matches the donations raised by employees.

ON BEHALF OF THE BOARD:





K Dhir - Director


17 September 2024

Aurelius Finance Company Limited (Registered number: 10773394)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

K Dhir
T Nagler

DISCLOSURE IN THE STRATEGIC REPORT
The Company has opted to disclose some items in the Strategic Report rather than the Director's Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable 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 directors are 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) 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.

AUDITORS
The auditors, Venture House Business Service Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K Dhir - Director


17 September 2024

Report of the Independent Auditors to the Members of
Aurelius Finance Company Limited

Opinion
We have audited the financial statements of Aurelius Finance Company Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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 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 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-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 Auditors' 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.

Material uncertainty relating to going concern
We draw your attention to note 19, as stated, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Aurelius Finance Company Limited


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation,

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Aurelius Finance Company Limited


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 a Report of the Auditors 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.




Christopher Baylis (Senior Statutory Auditor)
for and on behalf of Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

18 September 2024

Aurelius Finance Company Limited (Registered number: 10773394)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

REVENUE 3 10,162,053 7,453,570

Cost of sales 525,841 616,380
GROSS PROFIT 9,636,212 6,837,190

Administrative expenses 2,143,141 1,423,867
OPERATING PROFIT 5 7,493,071 5,413,323

Interest receivable and similar income 7,291 6,521
7,500,362 5,419,844

Interest payable and similar expenses 6 4,545,189 4,381,073
PROFIT BEFORE TAXATION 2,955,173 1,038,771

Tax on profit 7 529,579 707
PROFIT FOR THE FINANCIAL YEAR 2,425,594 1,038,064

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,425,594

1,038,064

Aurelius Finance Company Limited (Registered number: 10773394)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 8 11,025 15,894
Investments 9 57,085,618 36,955,559
57,096,643 36,971,453

CURRENT ASSETS
Debtors 10 4,985,587 5,913,284
Cash at bank 2,127,129 11,187,941
7,112,716 17,101,225
CREDITORS
Amounts falling due within one year 11 54,837,013 25,406,988
NET CURRENT LIABILITIES (47,724,297 ) (8,305,763 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,372,346

28,665,690

CREDITORS
Amounts falling due after more than one
year

12

-

(20,008,938

)

PROVISIONS FOR LIABILITIES 14 (3,529 ) (3,529 )
NET ASSETS 9,368,817 8,653,223

CAPITAL AND RESERVES
Called up share capital 15 3,030,948 4,740,948
Retained earnings 6,337,869 3,912,275
SHAREHOLDERS' FUNDS 9,368,817 8,653,223

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





K Dhir - Director


Aurelius Finance Company Limited (Registered number: 10773394)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 4,840,948 2,874,211 7,715,159

Changes in equity
Reduction in share capital (100,000 ) - (100,000 )
Total comprehensive income - 1,038,064 1,038,064
Balance at 31 December 2022 4,740,948 3,912,275 8,653,223

Changes in equity
Reduction in share capital (1,710,000 ) - (1,710,000 )
Total comprehensive income - 2,425,594 2,425,594
Balance at 31 December 2023 3,030,948 6,337,869 9,368,817

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Aurelius Finance Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

The qualifying entity is referred to in note 15.

Preparation of consolidated financial statements
The financial statements contain information about Aurelius Finance Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Aurelius Equity Opportunities SE & Co KGaA, Ludwig-Ganghofer-Straße 6, 82031 Grünwald, Germany.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

It is the nature of a company carrying out the business of the granting of loans that some loans become irrecoverable. When reviewing the recoverability of loans granted, the directors use best judgment to determine the need for any provisions or write offs.

There are current claims underway with administrators, the timing and extent that these will be successful are unpredictable and therefore no income is recorded in relation to these. At such point the income is received this will be recognised in the profit and loss account. Legal fees associated with administrator claims are provided on a no win no fee basis and as such no provision has been made with regards to these. Should there be any associated expense it will be recognised in the profit and loss account at the point the administrator income is recognised.

Turnover
Turnover consists of interest receivable, monitoring fees and arrangement fees on loans as well as fees relating to due diligence works carried out. Interest receivable is recognised as it falls due. Arrangement fees are recognised over the life of the loan and monitoring fees are recognised monthly over the course of the year on a straight line basis. Due diligence fees are recognised as due regardless of whether or not the loan agreement is then initiated.

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 of this company.

Group policy is to use losses to offset profits made elsewhere, hence no deferred tax assets on losses have been calculated.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are allocated to the appropriate heading within the Income Statement.

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Other provisions
Provisions are recognised when the Company has a present legal or constructive obligation to a third party, arising from a past event, and when it is more likely than not that the settlement of the obligation will lead to an outflow of economic resources, and when the amount of the provision can be measured reliably. Uncertain obligations are measured at the best possible estimate.

Fixed asset investments
For the purpose of determining whether the contractual cash flows are solely payments of principal and interest, the principal is defined as the fair value of the financial asset upon initial recognition. Interest is defined as the compensation for the time value of money and the default risk associated with an outstanding principal amount over a certain time period, and for other fundamental credit risk, costs, and a profit margin.

Classification of long term loans as a fixed asset investment is made to represent the intention of the Company to use these assets on a continuing basis in the company's activities. Those loan principal balances repayable within one year per their repayment terms have been classified as current loan receivables within current debtors.

Loan receivables that are contractually repayable on demand are shown as fixed asset investments if the intent of the Company is not to demand repayment in the near future.

Interest receivable or payable which is unpaid at the year end will be classified as trade debtors or liabilities except where the contract terms allow later repayment.

Interest expense
Classification of interest payable from loans is presented as a finance cost.

3. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

31.12.23 31.12.22
£    £   
United Kingdom 10,162,053 7,453,570
10,162,053 7,453,570

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 1,341,118 972,907
Social security costs 171,810 130,016
Other pension costs 9,761 7,606
1,522,689 1,110,529

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.12.23 31.12.22

Operational 8 7

31.12.23 31.12.22
£    £   
Directors' remuneration 248,512 350,000
Directors' pension contributions to money purchase schemes 1,321 1,321

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 248,512 350,000
Pension contributions to money purchase schemes 1,321 1,321

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Other operating leases 9,996 9,996
Depreciation - owned assets 4,869 3,586
Auditors' remuneration 46,038 8,850
Auditors' remuneration for non audit work 6,750 2,250
Foreign exchange differences (31,162 ) (13,870 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Loan interest payable 4,545,189 4,381,073

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 529,579 -

Deferred tax - 707
Tax on profit 529,579 707

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 2,955,173 1,038,771
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

738,793

197,366

Effects of:
Expenses not deductible for tax purposes 29,304 3,137
Income not taxable for tax purposes - (57 )
Capital allowances in excess of depreciation - (1,137 )
Utilisation of tax losses (195,660 ) -
Adjustments to tax charge in respect of previous periods (42,858 ) (199,309 )
on losses
Deferred tax - 707
Total tax charge 529,579 707

8. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 23,794
DEPRECIATION
At 1 January 2023 7,900
Charge for year 4,869
At 31 December 2023 12,769
NET BOOK VALUE
At 31 December 2023 11,025
At 31 December 2022 15,894

9. FIXED ASSET INVESTMENTS

31.12.23 31.12.22
£    £   
Shares in group undertakings 1,001 1,002
Loans to group undertakings 2,952,684 2,672,807
Other investments not loans 4,347 4,347
Other loans 54,127,586 34,277,403
57,085,618 36,955,559

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings Investments Totals
£    £    £   
COST
At 1 January 2023 1,002 4,347 5,349
Disposals (1 ) - (1 )
At 31 December 2023 1,001 4,347 5,348
NET BOOK VALUE
At 31 December 2023 1,001 4,347 5,348
At 31 December 2022 1,002 4,347 5,349

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Aurelius Finance Property One Limited
Registered office: 6th Floor 33 Glasshouse Street, London, England, W1B 5DG
Nature of business: Property Holding Company
%
Class of shares: holding
Ordinary 100.00

Aurelius Beta Limited
Registered office: 6th Floor 33 Glasshouse Street, London, England, W1B 5DG
Nature of business: Holding stock
%
Class of shares: holding
Ordinary 100.00
Loans to
group Other
undertakings loans Totals
£    £    £   
At 1 January 2023 2,672,807 34,277,403 36,950,210
New in year 279,877 46,187,488 46,467,365
Repayment in year - (26,776,777 ) (26,776,777 )
Other movement - 439,472 439,472
At 31 December 2023 2,952,684 54,127,586 57,080,270

Fixed Asset Investments consist of long term loans receivable to the Company from third parties and other group companies. They have been classified as Fixed Asset Investments due to the intention for their continued use within the Company's activities as stated in the fixed asset investment accounting policy. The loans have been granted interest rates between 7% and 11%. All the loans will currently reach maturity within 5 years. There is security in place over these loans in the form of debentures and guarantors.

Within other loans is £6,750,000 which is a loan to participating interests.

During the year the directors reclassified 1 3% preference share investment as investments to better reflect its commercial reality.

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,023,790 522,051
Amounts owed by group undertakings 779,736 780,035
Current loans receivable - 4,500,000
Deferred Consideration 3,130,815 -
Prepayments 51,246 111,198
4,985,587 5,913,284

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 5,344 112,620
Amounts owed to group undertakings 19,060,941 18,354,052
Tax 529,579 -
Social security and other taxes 36,937 26,527
Other creditors 2,055 1,642
Aurelius Growth Investments
SARL 6,115,120 6,168,154
Wells Fargo 27,319,664 -
Accruals and deferred income 1,209,247 372,574
Accrued expenses 558,126 371,419
54,837,013 25,406,988

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings - 10,109,010
Other loans - 9,899,928
- 20,008,938

Long term liabilities consist of loans due to related parties. These loans have been granted interest rates between 5% and 10%. The loans all mature within 5 years.

13. SECURED DEBTS

Walls Fargo Capital Finance (UK) Limited has a fixed and floating charge over the assets and undertaking of the company.

14. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,529 3,529

Deferred
tax
£   
Balance at 1 January 2023 3,529
Balance at 31 December 2023 3,529

Aurelius Finance Company Limited (Registered number: 10773394)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1
8,551,947 Redeemable £1 3,030,947 4,740,947
3,030,948 4,740,948

All shares carry the right to vote, participate in dividends declared and participate in any return of the capital of the Company.

The redeemable shares shall be redeemed in full if required by either the Company at any time or the occurrence of a Redemption Trigger Event in accordance with the Articles. There has not been such an event nor is one expected. Redeemable preference shares have therefore been classified as equity.

During the year 1,710,000 shares were redeemed at par.

16. ULTIMATE PARENT COMPANY

Aurelius Equity Opportunities SE & Co. KGaA (incorporated in Germany ) is regarded by the directors as being the company's ultimate parent company.

The immediate parent company is also Aurelius Equity Opportunities SE & Co. KGaA.

There is no one ultimate controlling party.

The Company is included in the group accounts prepared by the ultimate parent company, copies of which can be obtained from Ludwig-Ganghofer Stasse 6, 82031 Grunwald.

17. RELATED PARTY DISCLOSURES

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Other related parties

At the year end there was a balance of £6,119,527 (2022: £15,966,132) due to companies with shared ownership and management. During the year fees of £60,732 (2022:£26,830) and interest of £1,226,756 (2022: £1,500,447) were charged.

18. GOING CONCERN

It is the nature of a company carrying out the business of the granting of loans that some loans become irrecoverable. If some of these loans become irrecoverable (please see note 9 and note 10) the directors' assumption of going concern may no longer be valid. In adopting the going concern presumption, the directors have considered the impact of such events on the Company and have concluded that the going concern assumption is still appropriate.