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REGISTERED NUMBER: 12683507 (England and Wales)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 December 2023

for

Asset Management Holdings Ltd

Asset Management Holdings Ltd (Registered number: 12683507)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


Asset Management Holdings Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D Merdinligil





REGISTERED OFFICE: The Bower
207 - 211 Old Street
London
EC1V 9NR





REGISTERED NUMBER: 12683507 (England and Wales)





AUDITORS: Georgiou & Prasanna LLP (Statutory Auditors)
Block E, 2nd Floor
286a Chase Road
London
N14 6HF

Asset Management Holdings Ltd (Registered number: 12683507)

Group Strategic Report
for the Year Ended 31 December 2023

The director presents his strategic report of Asset Management Holdings Ltd (''the company'') and its fully owned subsidiaries (''the group''), for the year end 31 December 2023. The company was incorporated in 2020 and is a holding company of the group.

REVIEW OF BUSINESS
During the year the company acquired a new subsidiary Asset Capital Management Services (CY) Limited and disposed of one of its subsidiaries, Euro UK Capital Ltd.

In 2023, the group continued to focus on its principal activities of financial intermediation, investments and consultancy services.

The group's turnover was €1,151,745 (31 December 2022: €Nil) due to Asset Capital Management Services (CY) Limited joining the group. The group reported a loss of €142,971 (31 December 2022: loss of €223,231). Net assets of the group at 31 December 2023 were €805,839 (31 December 2022: €557,810).

During the period the company issued 390 ordinary shares for €391,000 (including share premium of €390,550) to its shareholder.

PRINCIPAL RISKS AND UNCERTAINTIES
The director has carried out an assessment of the principal risks facing the group which are outlined below.

Legal & Regulatory risk
The group operates in a strictly regulated industry and is therefore subject to compliance risk with respect to a number of laws and regulations. The breaching of any applicable laws or regulations could result in an inability to operate.

The Legal, Compliance and Risk functions in the business support the director with monitoring developments which includes the use of compliance and fraud monitoring tools to assist with the anti-money laundering and other screening activities undertaken by the functions. Appropriate measures are taken should any particular risk change significantly.

Operational risk
Technology systems are central to the group's business operations and are highly sensitive to any incidents or outages for a period of time which could have an impact on the group's operations. Loss of commercial or personal data could damage the business or the group's reputation and result in financial penalties.

The group has mechanisms in place to protect it from data and security breaches which include regular vulnerability and penetration testing.

Capital adequacy
Asset Capital Management UK Limited, subsidiary of the group, (the ''subsidiary'') is a FCA regulated entity. Therefore, it is required to ensure its capital exceeds a minimum threshold at all times. For the subsidiary this means its capital (comprising share capital, share premium, capital contribution and retained earnings) and own funds must exceed £330,000 from 1 January 2024 (£470,000 from 1 January 2025 and £610,000 from 1 January 2026). The director of the group monitors this closely to ensure sufficient headroom, which has been the case throughout the year.


Asset Management Holdings Ltd (Registered number: 12683507)

Group Strategic Report
for the Year Ended 31 December 2023

SECTION 172(1) STATEMENT
This section of the report describes how the director has had regard to the matters set out in Section 172(1) (a) to (f) and forms the director's statement required under Section 414CZA of the Companies Act 2006. The Director is required to act in a way to promote the success of the company for the benefits of all its stakeholders and in doing so consider the following matters:

Long-term decision making
The director's commitment to long-term decision making is set out throughout the rest of this strategic report.

Impact on the environment
The company also remains mindful of its impact on the environment and seeks to minimise this where possible. As an office-based technology business, its impact on the environment is relatively light by its business operations which are delivered electronically. Impact of staff travelling to the office is also minimal as staff generally use public transport with the offices located close to public transport links. Hybrid working has further reduced any footprint of traveling to the office on regular basis.

The level of paper consumption in the office is very low with most documents obtained, stored and accessed electronically. The offices are equipped with recycling facilities and filtered drinking water for the refill of water bottles. Furthermore, client contacts and communications are generally conducted electronically and consequently with little carbon footprint.

Reputation for high standards of business conduct
It is the intention of the director to behave responsibly and ensure that the business is operated in a responsible manner, within the high standards of business and regulatory conduct expected.

Fair treatment of shareholders
The director's intention is to behave responsibly toward the shareholders, recognising the group's obligation is to generate value for them whilst balancing the needs of all stakeholders.

CLIMATE CHANGES AND THE BUSINESS
The group's direct immediate exposure to climate change risk is minimal. The director regularly reviews potential impacts of climate change. The group is not highly exposed to climate related risks at present.
The director will continue to monitor the potential impacts of climate change on the business but there are not expected to be any material detriments in the short to medium term planning horizon.

KEY PERFORMANCE INDICATORS (KPIS)
The group's principal business KPls for the year are as below:
- Administrative expenses of €1,314,421 (31 December 2022: €242,985)
- Operating loss of €142,971 (31 December 2022: loss of €223,231)
The group has selected these financial KPls to measure and assess its performance. The group closely monitors controllable expenses and uses total administrative expenses items to measure these.

ON BEHALF OF THE BOARD:





D Merdinligil - Director


24 January 2025

Asset Management Holdings Ltd (Registered number: 12683507)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of financial intermediation, investments and consultancy services.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTOR
F Ozkurnaz held office from 1 January 2023 until after 31 December 2023 but prior to the date of this report.
D Merdinligil was appointed as a director after 31 December 2023 but prior to the date of this report.

ENGAGEMENT WITH EMPLOYEES
The group is an equal opportunity employer, and its employees and applicants are treated fairly regardless of their age, colour, creed, disability, full or part-time status, gender, marital status, nationality or ethnic origin, race, religion or sexual orientation.

The company has a small number of employees and a flat organisational structure which always allows immediate and direct access for all employees to senior management. In addition, there are regular meetings with staff, communications by email as well as staff training.

The group does not have a specific human rights policy. However, human rights are not deemed a material risk for the business due to the developed cuture of ethical business practice and strong labour regulation present in the UK.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The group's relationships with their customers and suppliers and others are key parts of the group's business and are managed through a system of internal policies and procedures such as: Conflict of Interest Policy, Infomation Security Policy, Conduct of Business and other policies. All complaints are managed by the Compliance Manager and monitored and treated with appropriate care and attention.

STREAMLINED ENERGY AND CARBON REPORTING
The Streamlined Energy and Carbon Reporting ("SECR") framework set by the UK government requires that UK based quoted and large unquoted companies make specific disclosures within their financial statements in relation to their energy and carbon usage. The group is not liable for any direct liabilities for power supply as the rent of their serviced office space is inclusive of such costs. The group has continued to utilise hybrid working arrangements since returning to the office after the end of covid-19 pandemic restrictions. This is continuing to significantly reduce the employees' travel to the office by public transport and the associated carbon emissions. The group does not operate any fossil fuel, hybrid or electric cars for its director. The serviced office building the group occupies was reconstructed and opened in 2019 using sustainably sourced materials and carbon saving techniques and to then current energy and carbon saving standards. The group considers that for the period under review the share of energy used in the office by the employees under hybrid working arrangements would have been considerably less than 40Mwh for the year and it would be exempt from making further disclosures under the relevant legislation as it would be defined as a low energy user.


Asset Management Holdings Ltd (Registered number: 12683507)

Report of the Director
for the Year Ended 31 December 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Georgiou & Prasanna LLP (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D Merdinligil - Director


24 January 2025

Report of the Independent Auditors to the Members of
Asset Management Holdings Ltd

Opinion
We have audited the financial statements of Asset Management Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Asset Management Holdings Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Asset Management Holdings Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Fraud risk assessment
To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure by management to commit, or provide an opportunity to commit, fraud. Our risk assessment procedures included:

- Enquiries of management and internal accounting staff, concerning the company's policies and procedures relating to:
- detecting and responding to the risks of fraud; and
- internal controls established to mitigate risks related to fraud;
- Enquiries of management and internal accounting staff as to whether they had knowledge of any actual, suspected or alleged fraud;
- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includes the audit partner, managers and staff who have extensive experience of working with companies in this sector, and this experience was relevant to the discussion about where fraud risks may arise.

Risk communications
We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

Fraud risks
As required by auditing standards we addressed the risk of management override of controls and the risk of fraudulent revenue recognition. In particular we considered the risk that revenue is recorded in the wrong period and the risk that the group's management may be in a position to make inappropriate accounting entries, and the risk of bias in accounting estimates and judgments.

Procedures to address fraud risks
Our audit procedures included evaluating the design and implementation, and operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures including
:- Review journal entries to supporting documentation and review for any unusual journal descriptions;
- Assessing significant accounting estimates for bias;
- Obtaining third party confirmations for all bank balances and material debtors and creditors balances; and
- Assessing when revenue was recognised, particularly focusing on revenue recognised in the days before and after the year end date, and whether it was recognised in the correct year.

Laws and regulations- Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

Risk assessment
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. For this risk assessment, matters considered included the following:
- our general commercial and technology based payment processing sector experience;
- discussion with the management of the company (as required by auditing standards);
- discussions with the directors and other management about the policies and procedures regarding compliance with laws and regulations.


Report of the Independent Auditors to the Members of
Asset Management Holdings Ltd

Risk communications
Our communication of laws and regulations risks was made throughout our team and we remained alert to any indications of non-compliance throughout the audit.

Direct laws context and link to audit
The potential effect of laws and regulations on the financial statements varies considerably. The group is subject to United Kingdom laws and regulations, such as the Companies Act 2006. Other relevant rules and regulations include the following:
- financial reporting legislation (including related UK companies' legislation)
- taxation legislation (direct and indirect) in the company's countries of operation.
- Financial Conduct Authority (FCA) and its Payment Services Regulations 2017.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Most significant indirect law/ regulation areas
Secondly, the group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or harm to the company's ability to operate.

We identified the following area as those most likely to have such an effect:
- Health , safety, welfare and fire safety
- Anti-bribery fraud and corruption
- Anti-money laundering regulations
- Financial Services and Markets Act 2000
- United Kingdom employment law

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of law or regulations is not disclosed to us or evident from relevant correspondence, our audit will not detect that breach.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Costas Morfakis (Senior Statutory Auditor)
for and on behalf of Georgiou & Prasanna LLP (Statutory Auditors)
Block E, 2nd Floor
286a Chase Road
London
N14 6HF

24 January 2025

Asset Management Holdings Ltd (Registered number: 12683507)

Consolidated Income Statement
for the Year Ended 31 December 2023

Period
1.7.22
Year Ended to
31.12.23 31.12.22
Notes €    €   

TURNOVER 1,151,745 -

Administrative expenses (1,314,421 ) (242,985 )
(162,676 ) (242,985 )

Other operating income 19,705 19,754
OPERATING LOSS and
LOSS BEFORE TAXATION (142,971 ) (223,231 )

Tax on loss 5 - -
LOSS FOR THE FINANCIAL YEAR (142,971 ) (223,231 )
Loss attributable to:
Owners of the parent (142,971 ) (223,231 )

Asset Management Holdings Ltd (Registered number: 12683507)

Consolidated Other Comprehensive Income
for the Year Ended 31 December 2023

Period
1.7.22
Year Ended to
31.12.23 31.12.22
Notes €    €   

LOSS FOR THE YEAR (142,971 ) (223,231 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(142,971

)

(223,231

)

Total comprehensive income attributable to:
Owners of the parent (142,971 ) (223,231 )

Asset Management Holdings Ltd (Registered number: 12683507)

Consolidated Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes €    €   
FIXED ASSETS
Intangible assets 7 767,415 271,910
Tangible assets 8 3,761 -
Investments 9 - -
771,176 271,910

CURRENT ASSETS
Debtors 10 339,905 55,887
Cash at bank 437,872 250,906
777,777 306,793
CREDITORS
Amounts falling due within one year 11 (743,114 ) (20,893 )
NET CURRENT ASSETS 34,663 285,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,839

557,810

CAPITAL AND RESERVES
Called up share capital 12 2,054 1,604
Share premium 13 1,588,947 1,198,397
Retained earnings 13 (785,162 ) (642,191 )
SHAREHOLDERS' FUNDS 805,839 557,810

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





D Merdinligil - Director


Asset Management Holdings Ltd (Registered number: 12683507)

Company Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes €    €   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 - -
Investments 9 986,306 1,051,151
986,306 1,051,151

CURRENT ASSETS
Debtors 10 - 6,084
Cash at bank 6,419 3,371
6,419 9,455
CREDITORS
Amounts falling due within one year 11 (30,436 ) (2,698 )
NET CURRENT (LIABILITIES)/ASSETS (24,017 ) 6,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

962,289

1,057,908

CAPITAL AND RESERVES
Called up share capital 12 2,054 1,604
Share premium 13 1,588,947 1,198,397
Retained earnings 13 (628,712 ) (142,093 )
SHAREHOLDERS' FUNDS 962,289 1,057,908

Company's loss for the financial year (486,619 ) (56,131 )

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





D Merdinligil - Director


Asset Management Holdings Ltd (Registered number: 12683507)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Share Total
capital earnings premium equity
€    €    €    €   
Balance at 1 July 2022 744 (418,960 ) 444,257 26,041

Changes in equity
Issue of share capital 860 - 754,140 755,000
Total comprehensive income - (223,231 ) - (223,231 )
Balance at 31 December 2022 1,604 (642,191 ) 1,198,397 557,810

Changes in equity
Issue of share capital 450 - 390,550 391,000
Total comprehensive income - (142,971 ) - (142,971 )
Balance at 31 December 2023 2,054 (785,162 ) 1,588,947 805,839

Asset Management Holdings Ltd (Registered number: 12683507)

Company Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Share Total
capital earnings premium equity
€    €    €    €   
Balance at 1 July 2022 744 (85,962 ) 444,257 359,039

Changes in equity
Issue of share capital 860 - 754,140 755,000
Total comprehensive income - (56,131 ) - (56,131 )
Balance at 31 December 2022 1,604 (142,093 ) 1,198,397 1,057,908

Changes in equity
Issue of share capital 450 - 390,550 391,000
Total comprehensive income - (486,619 ) - (486,619 )
Balance at 31 December 2023 2,054 (628,712 ) 1,588,947 962,289

Asset Management Holdings Ltd (Registered number: 12683507)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

Period
1.7.22
Year Ended to
31.12.23 31.12.22
Notes €    €   
Cash flows from operating activities
Cash generated from operations 1 364,310 (285,248 )
Net cash from operating activities 364,310 (285,248 )

Cash flows from investing activities
Purchase of intangible fixed assets (563,482 ) (339,887 )
Purchase of tangible fixed assets (4,862 ) -
Net cash from investing activities (568,344 ) (339,887 )

Cash flows from financing activities
Share issue 391,000 755,000
Net cash from financing activities 391,000 755,000

Increase in cash and cash equivalents 186,966 129,865
Cash and cash equivalents at beginning of
year

2

250,906

121,041

Cash and cash equivalents at end of year 2 437,872 250,906

Asset Management Holdings Ltd (Registered number: 12683507)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.7.22
Year Ended to
31.12.23 31.12.22
€    €   
Loss before taxation (142,971 ) (223,231 )
Depreciation charges 69,078 67,977
(73,893 ) (155,254 )
Increase in trade and other debtors (284,018 ) (55,887 )
Increase/(decrease) in trade and other creditors 722,221 (74,107 )
Cash generated from operations 364,310 (285,248 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
€    €   
Cash and cash equivalents 437,872 250,906
Period ended 31 December 2022
31.12.22 1.7.22
€    €   
Cash and cash equivalents 250,906 121,041


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
€    €    €   
Net cash
Cash at bank 250,906 186,966 437,872
250,906 186,966 437,872
Total 250,906 186,966 437,872

Asset Management Holdings Ltd (Registered number: 12683507)

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

1. STATUTORY INFORMATION

Asset Management Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is still in development, hence no amortisation has been charged in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Asset Management Holdings Ltd (Registered number: 12683507)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The Ultimate Beneficial Owner has indicated his willingness to inject sufficient funds to support the working capital needs of the company and the group and ensuring the FCA's capital adequacy requirements are met. Consequently, the director considers it appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS
Period
1.7.22
Year Ended to
31.12.23 31.12.22
€    €   
Wages and salaries 579,569 -
Social security costs 209,548 -
Other pension costs 20,521 -
809,638 -

The average number of employees during the year was as follows:
Period
1.7.22
Year Ended to
31.12.23 31.12.22

22 2

Period
1.7.22
Year Ended to
31.12.23 31.12.22
€    €   
Director's remuneration - -

Asset Management Holdings Ltd (Registered number: 12683507)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

4. OPERATING LOSS

The operating loss is stated after charging/(crediting):

Period
1.7.22
Year Ended to
31.12.23 31.12.22
€    €   
Other operating leases - 222
Depreciation - owned assets 1,101 -
Goodwill amortisation 67,977 67,977
Auditors' remuneration 44,102 5,546
Foreign exchange differences (2,155 ) 168

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the period ended 31 December 2022.

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
€    €    €   
COST
At 1 January 2023 339,887 - 339,887
Additions - 563,482 563,482
At 31 December 2023 339,887 563,482 903,369
AMORTISATION
At 1 January 2023 67,977 - 67,977
Amortisation for year 67,977 - 67,977
At 31 December 2023 135,954 - 135,954
NET BOOK VALUE
At 31 December 2023 203,933 563,482 767,415
At 31 December 2022 271,910 - 271,910

Computer Software is still in development, hence no amortisation has been charged in the current year.

Asset Management Holdings Ltd (Registered number: 12683507)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

8. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
€    €    €   
COST
Additions 1,600 3,262 4,862
At 31 December 2023 1,600 3,262 4,862
DEPRECIATION
Charge for year 134 967 1,101
At 31 December 2023 134 967 1,101
NET BOOK VALUE
At 31 December 2023 1,466 2,295 3,761

9. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
€   
COST
At 1 January 2023 1,051,151
Additions 323,156
Disposals (388,001 )
At 31 December 2023 986,306
NET BOOK VALUE
At 31 December 2023 986,306
At 31 December 2022 1,051,151


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
€    €    €    €   
Other debtors 254,996 54,689 - 6,084
Accrued income 84,208 - - -
Prepayments 701 1,198 - -
339,905 55,887 - 6,084

Asset Management Holdings Ltd (Registered number: 12683507)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
€    €    €    €   
Trade creditors 33,228 10,051 - -
Amounts owed to group undertakings - - 576 2,699
Social security and other taxes 16,100 - - -
Pensions 2,605 - - -
VAT 2,148 - - -
Other creditors 639,366 1 1,060 (1 )
Accrued expenses 49,667 10,841 28,800 -
743,114 20,893 30,436 2,698

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: €    €   
1,775 Ordinary £1 2,054 1,604

390 Ordinary shares of £1 each were allotted as fully paid at a premium of €1,001.41 per share during the year.

13. RESERVES

Group
Retained Share
earnings premium Totals
€    €    €   

At 1 January 2023 (642,191 ) 1,198,397 556,206
Deficit for the year (142,971 ) (142,971 )
Cash share issue - 390,550 390,550
At 31 December 2023 (785,162 ) 1,588,947 803,785

Company
Retained Share
earnings premium Totals
€    €    €   

At 1 January 2023 (142,093 ) 1,198,397 1,056,304
Deficit for the year (486,619 ) (486,619 )
Cash share issue - 390,550 390,550
At 31 December 2023 (628,712 ) 1,588,947 960,235