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REGISTERED NUMBER: OC445693 (England and Wales)













Report of the Members and

Financial Statements

for the Period

6 February 2023 to 31 December 2023

for

Adira Investment Management LLP

Adira Investment Management LLP (Registered number: OC445693)






Contents of the Financial Statements
for the Period 6 February 2023 to 31 December 2023




Page

General Information 1

Report of the Members 2

Balance Sheet 4

Notes to the Financial Statements 5


Adira Investment Management LLP

General Information
for the Period 6 February 2023 to 31 December 2023







DESIGNATED MEMBERS: R M Abrams
Adira Investment Services Limited
W G Allport
M E Gower





REGISTERED OFFICE: 23 Berkeley Square
London
W1J 6HE





REGISTERED NUMBER: OC445693 (England and Wales)





AUDITORS: Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Adira Investment Management LLP (Registered number: OC445693)

Report of the Members
for the Period 6 February 2023 to 31 December 2023

The members present their report with the financial statements of the LLP for the period 6 February 2023 to 31 December 2023.

INCORPORATION
The LLP was incorporated on 6 February 2023 .

DESIGNATED MEMBERS
The designated members during the period under review were:

R M Abrams
Adira Investment Services Limited
W G Allport
M E Gower

RESULTS FOR THE PERIOD 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.

Adira Investment Management LLP (Registered number: OC445693)

Report of the Members
for the Period 6 February 2023 to 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 E Gower - Designated member


12 September 2024

Adira Investment Management LLP (Registered number: OC445693)

Balance Sheet
31 December 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 6,005

CURRENT ASSETS
Debtors 5 889,030
Cash at bank 254,199
1,143,229
CREDITORS
Amounts falling due within one year 6 275,246
NET CURRENT ASSETS 867,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

873,988

CREDITORS
Amounts falling due after more than one
year

7

950,000
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(76,012

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS
Capital accounts (76,012 )
(76,012 )

TOTAL MEMBERS' INTERESTS
Members' other interests (76,012 )
Amounts due from members 5 (172,973 )
(248,985 )

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 12 September 2024 and were signed by:



M E Gower - Designated member

Adira Investment Management LLP (Registered number: OC445693)

Notes to the Financial Statements
for the Period 6 February 2023 to 31 December 2023

1. STATUTORY INFORMATION

Adira Investment 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.

The financial statements have been prepared on a going concern basis. Given the known challenges faced by startup investment managers raising external assets leading towards a self-sustaining business, the partners have allocated sufficient resources to finance the LLP together with arrangements in place for additional working capital as required. Based on the assessment of the partners, there is reasonable expectation that the LLP has access to adequate financial resources to continue in operational existence for the foreseeable future.

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

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 period was NIL.

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 6,619
At 31 December 2023 6,619
DEPRECIATION
Charge for period 614
At 31 December 2023 614
NET BOOK VALUE
At 31 December 2023 6,005

Adira Investment Management LLP (Registered number: OC445693)

Notes to the Financial Statements - continued
for the Period 6 February 2023 to 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts due from members 172,973
Other debtors 700,158
VAT 4,049
Prepayments 11,850
889,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 5,878
Accrued expenses 269,368
275,246

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 950,000

Included in other creditors are amounts raised from external parties in order to raise working capital for the LLP. Amounts are repayable over a period of 10 years linked to revenue earned by the LLP.

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