REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Period |
6 February 2023 to 31 December 2023 |
for |
Adira Investment Management LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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: |
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: |
Adira Investment Management LLP (Registered number: OC445693) |
Balance Sheet |
31 December 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
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 | ) |
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 |
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 |
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 |
Computer equipment | - |
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 |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
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 |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Accrued expenses |
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. |
for and on behalf of |