REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Conductor Capital Asset Management LLP |
REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Conductor Capital Asset Management LLP |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Conductor Capital Asset Management LLP |
General Information |
for the Year Ended 31 December 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Report of the Members |
for the Year Ended 31 December 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 December 2023. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The results for the year and allocation to members are shown in the annexed financial statements. |
MEMBERS' INTERESTS |
Members' drawings are made out of amounts due to members after leaving sufficient funds to meet all reasonably foreseeable liabilities. Loans and other debts due to members are maintained to leave sufficient working capital for the business and ongoing trading requirements. |
STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships 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 and applicable law). Under legislation applicable to limited liability partnerships 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; |
- | 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 enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Report of the Members |
for the Year Ended 31 December 2023 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information. |
ON BEHALF OF THE MEMBERS: |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
2,652,759 |
1,999,556 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
2,652,759 |
1,999,556 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 2,652,759 | 1,999,556 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Conductor Capital Asset Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net fees earned on managed funds. Credit is taken for fees in the period to which the fee relates. |
Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the fair value can otherwise be measured reliably. |
Debtors and creditors receivable/ payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The LLP has investments in Conductor Energy Delaware Fund LP and Conductor Energy Cayman Fund Limited. The shares held in Conductor Energy Cayman Fund are held with restriction for a period of 5 years from the date of issue and have been valued in December 2023 by an external advisor. The LLP acts as to discretionary investment manager to the fund. |
Conductor Capital Asset Management LLP (Registered number: OC441073) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Accruals and deferred income |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 2,652,759 | 1,999,556 |
Falling due within one year | 2,652,759 | 1,999,556 |
Loans and other debts due to members rank after all unsecured creditors in the event of a winding up. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |