Investance Partners UK Limited 10822097 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is providing management consultancy services Digita Accounts Production Advanced 6.30.9574.0 true false true 10822097 2023-01-01 2023-12-31 10822097 2023-12-31 10822097 core:CurrentFinancialInstruments 2023-12-31 10822097 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10822097 bus:SmallEntities 2023-01-01 2023-12-31 10822097 bus:Audited 2023-01-01 2023-12-31 10822097 bus:FullAccounts 2023-01-01 2023-12-31 10822097 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10822097 bus:RegisteredOffice 2023-01-01 2023-12-31 10822097 bus:Director2 2023-01-01 2023-12-31 10822097 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10822097 1 2023-01-01 2023-12-31 10822097 countries:AllCountries 2023-01-01 2023-12-31 10822097 countries:France 2023-01-01 2023-12-31 10822097 2022-01-01 2022-12-31 10822097 2022-12-31 10822097 core:CurrentFinancialInstruments 2022-12-31 10822097 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 10822097

Investance Partners UK Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

Pages for Filing with Registrar

 

Investance Partners UK Limited

(Registration number: 10822097)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

6

56

4,709

Cash at bank and in hand

 

13,661

32,376

 

13,717

37,085

Creditors: Amounts falling due within one year

7

(19,758)

(27,663)

Net (liabilities)/assets

 

(6,041)

9,422

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(7,041)

8,422

Shareholders' (deficit)/funds

 

(6,041)

9,422

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 September 2024
 

.........................................
C Worsley
Director

 

Investance Partners UK Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the company is providing management consultancy services.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is loss making and is dependant on the support of its parent company to continue. At the time of preparing the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

Investance Partners UK Limited

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

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Financial instruments

The Company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 

Investance Partners UK Limited

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

Debtors

Basic financial assets, including trade and other debtors, 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, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Investance Partners UK Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 September 2024 was Hannah Fowlie, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2022 - 0).

6

Debtors

2023
£

2022
£

Other debtors

56

4,709

56

4,709

 

Investance Partners UK Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

-

294

Trade creditors

336

612

Amounts owed to group undertakings

11,067

18,851

Other creditors

8,355

7,906

19,758

27,663

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

294

9

Dividends

There were no dividends paid or proposed in the current year or prior year.

10

Parent and ultimate parent undertaking

The parent of the smallest group in which these financial statements are consolidated is Investance Partners SA, incorporated in France.

The address of Investance Partners SA is:
31 Rue Saint Augustin
75002 Paris
435 257 175