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REGISTERED NUMBER: OC441073 (England and Wales)













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: D Cherrett
Conductor Capital Holdings Limited
D Corden
P Kitchen
M Lelong
M Romano
D W Woodbridge





REGISTERED OFFICE: 84 Eccleston Square
London
SW1V 1PX





REGISTERED NUMBER: OC441073 (England and Wales)





AUDITORS: Anderson Barrowcliff Limited
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:

A Joshi
D Cherrett
Conductor Capital Holdings Limited
D Corden
M Ivanda
P Kitchen
M Lelong
M Romano
D W Woodbridge

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:



M Romano - Designated member


24 April 2024

Conductor Capital Asset Management LLP (Registered number: OC441073)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 469,580 43,590

CURRENT ASSETS
Debtors 5 7,764,329 3,269,540
Cash at bank 171,740 233,740
7,936,069 3,503,280
CREDITORS
Amounts falling due within one year 6 5,752,890 1,547,314
NET CURRENT ASSETS 2,183,179 1,955,966
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

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

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 24 April 2024 and were signed by:





M Romano - Designated member

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
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" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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 43,590
Additions 425,990
At 31 December 2023 469,580
NET BOOK VALUE
At 31 December 2023 469,580
At 31 December 2022 43,590

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 2,406,118 1,309,409
Amounts owed by group undertakings 4,948,569 1,010,000
Other debtors 19,200 -
VAT - 287,804
Prepayments and accrued income 390,442 662,327
7,764,329 3,269,540

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,199 1,500
Amounts owed to group undertakings - 1,206,193
Accruals and deferred income 5,745,691 339,621
5,752,890 1,547,314

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.

David Shawcross FCA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff Limited