Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity2220falsetruefalse OC396445 2023-01-01 2023-12-31 OC396445 2022-01-01 2022-12-31 OC396445 2023-12-31 OC396445 2022-12-31 OC396445 c:Buildings c:ShortLeaseholdAssets 2023-01-01 2023-12-31 OC396445 c:Buildings c:ShortLeaseholdAssets 2023-12-31 OC396445 c:Buildings c:ShortLeaseholdAssets 2022-12-31 OC396445 c:OfficeEquipment 2023-01-01 2023-12-31 OC396445 c:OfficeEquipment 2023-12-31 OC396445 c:OfficeEquipment 2022-12-31 OC396445 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC396445 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC396445 c:CurrentFinancialInstruments 2023-12-31 OC396445 c:CurrentFinancialInstruments 2022-12-31 OC396445 c:Non-currentFinancialInstruments 2023-12-31 OC396445 c:Non-currentFinancialInstruments 2022-12-31 OC396445 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC396445 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC396445 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 OC396445 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 OC396445 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 OC396445 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 OC396445 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 OC396445 d:FRS102 2023-01-01 2023-12-31 OC396445 d:Audited 2023-01-01 2023-12-31 OC396445 d:FullAccounts 2023-01-01 2023-12-31 OC396445 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC396445 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 OC396445 d:PartnerLLP1 2023-01-01 2023-12-31 OC396445 d:PartnerLLP2 2023-01-01 2023-12-31 OC396445 d:PartnerLLP3 2023-01-01 2023-12-31 OC396445 d:PartnerLLP4 2023-01-01 2023-12-31 OC396445 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-12-31 OC396445 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC396445 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 OC396445 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC396445 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC396445 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC396445 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: OC396445







ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


LAKESTAR ADVISORS UK LLP






































img169e.png                        

 


LAKESTAR ADVISORS UK LLP
 



INFORMATION




Designated Members

Lakestar Holding AG (appointed 30 January 2023)
Lakestar Advisors GMBH (appointed 30 January 2023)
LCFS Holding Ltd (resigned 30 January 2023)
ANXA Holding PTE Ltd (resigned 30 January 2023)

Limited Liability Partnership registered number

OC396445

Registered office

Lynton House7-12 Tavistock SquareLondonWC1H 9LT

Trading address

First Floor65 Grosvenor StreetLondonW15 3JH

Independent auditor

PricewaterhouseCoopers CI LLPRoyal Bank Place1 Glatengy EsplanadeSt Peter PortGuernseyGY1 4ND

Bankers

Credit SuisseOne Cabot SquareLondonE14 4QJ

Accountants

Menzies LLP3000a ParkwayWhiteleyFarehamHampshirePO15 7FX


 


LAKESTAR ADVISORS UK LLP
 



CONTENTS



Page
Members' Report
1 - 2
Statement of Financial Position
3 - 4
Notes to the Financial Statements
5 - 13


 


LAKESTAR ADVISORS UK LLP
 


  
MEMBERS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Members present their Annual Report and Audited Financial Statements of Lakestar Advisors UK LLP (the "LLP") for the year ended 31 December 2023
 

Principal activities
 
 
The principal activity of the LLP continued to be that of providing advisory and financial consultancy services to other group companies.
The LLP is regulated by the Financial Conduct Authority.
 
 
Designated Members
 
 
The Designated Members who held office during the year and up to the date of signature of the Financial Statements were as follows:
Lakestar Advisors GMBH
Lakestar Holding AG
 

 
Members' drawings and contributions
 
 
The Members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.
 
 
A Members' capital requirement is linked to their share of profit and the financing requirement of the LLP. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par," so the retiring members are repaid their capital at "par."
 
 
Members' responsibilities statement
 
 
The Members are responsible for preparing the Annual Report and Audited financial statements in accordance with applicable law and regulations.
 
 
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the Members to prepare financial statements for each financial year. Under that law the Members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland) Section 1A) ("FRS 102"). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the Members 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 LLP and of the profit or loss of the LLP for that period.

In preparing these financial statements, the Members 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 UK accounting standards, comprising FRS 102 1A, 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 LLP will continue in business.
 

The Members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008)They are also responsible for
Page 1

 


LAKESTAR ADVISORS UK LLP
 


 
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
 
 
safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 
Disclosure of information to auditor
 
 
Each of the persons who are Members at the time when this Members' Report is approved has confirmed that:

so far as that Member is aware, there is no relevant audit information of which the LLP's auditor is unaware, and

that Member has taken all the steps that ought to have been taken as a Member in order to be aware of any relevant audit information and to establish that the LLP's auditor is aware of that information.
 

Auditor
 
 
On 14 August 2023 PricewaterhouseCoopers CI LLP were appointed as auditor following the resignation of Menzies LLP as auditor. 
Under section 487(2) of the Companies Act 2006, PricewaterhouseCoopers CI LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is eariler.
 
 

This report was approved by the Members and signed on their behalf by: 



Lakestar Advisors GMBH


Date: 24 April 2024

24 April 2024
Page 2

 


LAKESTAR ADVISORS UK LLP
REGISTERED NUMBER:OC396445



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 6 
859,918
986,165

  
859,918
986,165

Current assets
  

Debtors: amounts falling due after more than one year
 7 
489,848
489,848

Debtors: amounts falling due within one year
 7 
2,120,940
303,062

Cash at bank and in hand
  
380,110
1,124,496

  
2,990,898
1,917,406

Creditors: amounts falling due within one year
 8 
(869,316)
(628,287)

Net current assets
  
 
 
2,121,582
 
 
1,289,119

Total assets less current liabilities
  
2,981,500
2,275,284

Creditors: amounts falling due after more than one year
 8 
(170,795)
(206,704)

  
2,810,705
2,068,580

Provisions for liabilities
  

Other provisions
 9 
(121,643)
(118,341)

  
 
 
(121,643)
 
 
(118,341)

Net assets
  
2,689,062
1,950,239

Page 3

 


LAKESTAR ADVISORS UK LLP
REGISTERED NUMBER:OC396445


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Other amounts due to members
 10 
2,472,828
1,734,005

  
2,472,828
1,734,005

Members' other interests
  

Members' capital classified as equity
  
250,753
250,753

Other reserves classified as equity
  
(34,519)
(34,519)

  
 
216,234
 
216,234

  
2,689,062
1,950,239


Total members' interests
  

Loans and other debts due to members
 10 
2,472,828
1,734,005

Members' other interests
  
216,234
216,234

  
2,689,062
1,950,239


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

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 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 by: 




Lakestar Advisors GMBH
Designated Member

Date: 24 April 2024

The notes on pages 5 to 13 form part of these financial statements.

Page 4

 


LAKESTAR ADVISORS UK LLP
 


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

1.


General information

Lakestar Advisors UK LLP ("LLP") is a Limited Liability Partnerhsip incorporated in England and Wales. The registered office is Lynton House, 7-12 Tavistock Square, London United Kingdom, WC1H 9LT (formerly Forum 4, C/O Aztec Business Park, Parkway South Whiteley, Fareham, Hampshire, PO15 7AD, United Kingdom until 30 June 2023). The trading address of the LLP is First Floor, 65 Grosvenor Street, London, W1K 3JH.
The LLP's principal activities are disclosed in the Members' Report.

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland) Section 1A and Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008).
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the LLP's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.

The principal accounting policies applied in the preparation of these Financial Statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

 
2.2

Going concern

At the time of approving the Financial Statements, the Members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the forseeable future, therefore the accounts have been prepared on a going concern basis. The LLP provides advisory and financial consultancy services to other group companies and has determined arm's length prices for these services on a cost plus basis. The Members are satisfied that the LLP will able to meet its liabilities as they fall due as turnover will always cover expenses incurred under this basis.

 
2.3

Foreign currency translation

Functional and presentation currency
The LLP's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the start of each quarter it relates.
At each year 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 that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'interest payable and similar expenses'.

Page 5

 


LAKESTAR ADVISORS UK LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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.

  
2.5

Administrative expenses

Administrative exepenses are accounted for on an accruals basis.

 
2.6

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.

 
2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.8

Taxation

In accordance with the requirements of the Statement of Recommended Practice ‘Accounting by Limited Liability Partnerships’ no taxation is required to be disclosed. Tax is borne by the individual members on their attributable profit shares and not the LLP.

 
2.9

Division and distribution of profits

A division of profits is the mechanism by which the profits of the LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of Comprehensive Income.

 
2.10

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.

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 6

 


LAKESTAR ADVISORS UK LLP
 


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

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Leasehold Improvements
-
straight line over lease term of 10 years
Fixtures, fittings and equipment
-
straight line over 3 years

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.
Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
At each reporting period end date, the LLP reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Impairment losses would be recorded as an expense in the Statement of Comprehensive Income.

 
2.11

Cash at bank and in hand

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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Provisions are recognised when the LLP has a legal or constructive obligation that probably requires settlement by a transfer of economic benefits, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the LLP becomes aware of the obligation, and are measured at the best estimate at the reporting date of the present value of expenditure required to settle the obligation, taking into account relevant risks and uncertainties. Any changes in provisions due to passage of time are recognised as a finance charge in the Statement of Comprehensive Income.
When payments are eventually made, they are charged to or settled against the provision carried in the Statement of Financial Position.

 
2.14

Financial instruments

Page 7

 


LAKESTAR ADVISORS UK LLP
 


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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the LLP's Statement of Financial Position when the LLP 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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..

  
2.15

Employee benefits

The LLP provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.
Pensions
The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.
Other employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense in the period in which the service is received, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Termination benefits are recognised immediately as an expense when the LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

Page 8

 


LAKESTAR ADVISORS UK LLP
 


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

3.



Judgements and estimates in applying accounting policies and key sources of estimation uncertainty

In the application of the LLP's accounting policies, the Members 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.
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Accounting estimates
The LLP has a lease where it is contractually obliged to make good any alterations of the leasehold at the end of the lease term. Therefore a provision for asset retirement obligation has been recognised. There is a proportion of estimation and uncertainty over the amounts that will be eventually paid, however management have provided for amounts based on its quotations provided from contractors and its expectations of amounts to be paid.


4.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 20).


5.


Interest payable and similar expenses

2023
2022
£
£


Interest on loan from Lakestar Advisors GMBH
13
113

Finance cost on provisions
3,302
3,212

3,315
3,325

Page 9

 


LAKESTAR ADVISORS UK LLP
 


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

6.


Tangible fixed assets





Leasehold improvement
Fixtures, fittings and equipment
Total

£
£
£



Cost


At 1 January 2023
1,376,032
125,503
1,501,535


Additions
34,287
8,015
42,302


Disposals
-
(80,447)
(80,447)


Transfers between classes
(951)
951
-



At 31 December 2023

1,409,368
54,022
1,463,390



Depreciation


At 1 January 2023
425,351
90,019
515,370


Charge for the year on owned assets
144,057
21,539
165,596


Disposals
-
(77,494)
(77,494)


Transfers between classes
(333)
333
-



At 31 December 2023

569,075
34,397
603,472



Net book value



At 31 December 2023
840,293
19,625
859,918



At 31 December 2022
950,681
35,484
986,165

Page 10

 


LAKESTAR ADVISORS UK LLP
 


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

7.


Debtors

2023
2022
£
£

Due after more than one year

Rental deposit
489,848
489,848

489,848
489,848


The LLP does not intend to initiate the break clause of the lease, therefore the rental deposit will be repayable on completion of the lease which is after one year. 

2023
2022
£
£

Due within one year

Trade debtors
1,841,870
-

Amounts owed by members
37,437
19,081

Other debtors
62,055
59,389

Prepayments
179,578
224,592

2,120,940
303,062



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
36,499
3,565

Other taxation and social security
755,122
561,373

Other creditors
18,915
17,502

Accruals
58,780
45,847

869,316
628,287



Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals
170,795
206,704

170,795
206,704


The accrual included in amounts falling due after one year relate to the rent free period of the lease which is released over the lease period. 

Page 11

 


LAKESTAR ADVISORS UK LLP
 


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

9.


Provisions





Asset retirement obligation

£





At 1 January 2023
118,341


Charged to Statement of Comprehensive Income
3,302



At 31 December 2023
121,643

This provision relates to asset retirement obligations of returning the office premises back to their original state at the end of the lease period.


10.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
2,472,828
1,734,005

2,472,828
1,734,005

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




11.


Pension commitments

The LLP provides defined contribution schemes for its employees in England. The amount recognised as an expense for the defined contribution scheme was £30,550 (2022: £19,494).
The LLP had no post employment benefits as at 31 December 2023 (2022: £nil).

Page 12

 


LAKESTAR ADVISORS UK LLP
 


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

12.


Administrative expenses

ole4d41.png


13.


Related party transactions

At the year end the LLP had balances owed from designated members amounting to £1,836,807 (2022: £19,081). 
The LLP also provided investment advisory services to designated members during the year amounting to £8,051,393 (2022: £6,132,234).
During the year key management personnel received compensation of £306,923.


14.


Controlling party

The immediate parent of the LLP is Lakestar Advisors GmbH, a company incorporated in Switzerland. 
The ultimate parent of the LLP is Lakestar Holding AG, a company incorporated in Switzerland. 
The ultimate controlling party of the LLP is Klaus Hommels.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 April 2024 by Elisha Backhouse (Senior Statutory Auditor) on behalf of PricewaterhouseCoopers CI LLP.

 
Page 13