Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30No description of principal activityfalse0true2022-12-010trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC419913 2022-12-01 2023-11-30 OC419913 2021-12-01 2022-11-30 OC419913 2023-11-30 OC419913 2022-11-30 OC419913 c:CurrentFinancialInstruments 2023-11-30 OC419913 c:CurrentFinancialInstruments 2022-11-30 OC419913 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 OC419913 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 OC419913 d:FRS102 2022-12-01 2023-11-30 OC419913 d:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 OC419913 d:FullAccounts 2022-12-01 2023-11-30 OC419913 d:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 OC419913 2 2022-12-01 2023-11-30 OC419913 6 2022-12-01 2023-11-30 OC419913 d:PartnerLLP1 2022-12-01 2023-11-30 OC419913 d:PartnerLLP3 2022-12-01 2023-11-30 OC419913 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-11-30 OC419913 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-11-30 OC419913 c:FurtherSpecificReserve3ComponentTotalEquity 2023-11-30 OC419913 c:FurtherSpecificReserve3ComponentTotalEquity 2022-11-30 OC419913 e:USDollar 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure


Registered number: OC419913












CONSTANTINE GLOBAL LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

 

CONSTANTINE GLOBAL LLP

CONTENTS



Page
Information
 
 
1
Balance sheet
 
 
2 - 3
Reconciliation of members' interests
 
 
4
Notes to the financial statements
 
 
5 - 9


 

CONSTANTINE GLOBAL LLP

INFORMATION




Designated Members
Kings Co Limited
MyLady Co Limited

LLP registered number
OC419913

Registered office
16 Great Queen Street
Covent Garden
London
WC2B 5AH

Accountants
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH

Page 1


 
REGISTERED NUMBER:OC419913
CONSTANTINE GLOBAL LLP

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
$000
$000

Fixed assets
  

Investments
 4 
206,426
191,470

 
Current assets
  

Cash at bank and in hand
  
6
104

Creditors: amounts falling due within one year
 5 
(134)
(38)

Net current (liabilities)/assets
  
 
 
(128)
 
 
66

  

Net assets
  
206,298
191,536


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
 6 
273
241

Other amounts
 6 
57,837
43,107

  
58,110
43,348

Members' other interests
  

Members' capital classified as equity

  

148,188
148,188

  
 
148,188
 
148,188

  
206,298
191,536


Total members' interests
  

Loans and other debts due to members
 6 
58,110
43,348

Members' other interests
  
148,188
148,188

  
206,298
191,536


Page 2


 
REGISTERED NUMBER:OC419913
CONSTANTINE GLOBAL LLP
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Kings Co Limited
MyLady Co Limited
Designated member
Designated member


Date: 23 December 2024
Date: 23 December 2024

The notes on pages 5 to 9 form part of these financial statements.

Constantine Global LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 3

 

CONSTANTINE GLOBAL LLP

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 NOVEMBER 2023








EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Members' capital (classified as debt)
Other amounts
Total
Total

$000
$000
$000
$000
$000
$000
$000

Amounts due to members 

228
42,240
42,468


Balance at 1 December 2021 
148,188
-
148,188
228
42,240
42,468
190,656

Profit for the year available for discretionary division among members
 
-
14,390
14,390
-
-
-
14,390

Members' interests after profit for the year
148,188
14,390
162,578
228
42,240
42,468
205,046

Other division of profits
-
-
-
-
14,390
14,390
14,390

Movement in reserves
-
(14,390)
(14,390)
-
-
-
(14,390)

Amounts introduced by members
-
-
-
13
-
13
13

Drawings on account and distribution of profit
-
-
-
-
(13,524)
(13,524)
(13,524)

Amounts due to members
 



241
43,107
43,348


Balance at 30 November 2022
148,188
-
148,188
241
43,107
43,348
191,536

Profit for the year available for discretionary division among members
 
-
29,115
29,115
-
-
-
29,115

Members' interests after profit for the year
148,188
29,115
177,303
241
43,107
43,348
220,651

Other division of profits
-
-
-
-
29,115
29,115
29,115

Movement in reserves
-
(29,115)
(29,115)
-
-
-
(29,115)

Amounts introduced by members
-
-
-
31
-
31
31

Drawings on account and distribution of profit
-
-
-
-
(14,385)
(14,385)
(14,385)

Amounts due to members
 



273
57,837
58,110


Balance at 30 November 2023 
148,188
-
148,188
272
57,837
58,109
206,297

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4

 

CONSTANTINE GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Constantine Global LLP ("the LLP") is a limited liability partnership, incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
Monetary amounts in these financial statements are rounded to the nearest $'000.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP has adequate financial resources and, as a consequence, the designated members believe that the LLP is well placed to manage its business risks successfully. After making enquiries, the designated members have a reasonable expectation that the LLP has adequate resources to continue its operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional currency is Brazilian Real. This differs from the presentational currency which is US Dollars ("$"). The reason for the difference is that investment portfolios in prior years were held in $ and may change to $ in future.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 

CONSTANTINE GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.6

Valuation of investments

Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. 

  
2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including other debtors, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond
Page 6

 

CONSTANTINE GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
  
2.7

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 

CONSTANTINE GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

  
2.9

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 102. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities. 
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the profit and loss account in the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities in the balance sheet.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the profit and loss account and are equity appropriations in the balance sheet.
All amounts due to members that are classified as liabilities are presented in the balance sheet within 'loans and other debts due to members' and are charged to the profit and loss account within 'members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the balance sheet within 'Members' other interests'. 
The terms of the members' agreement require that capital be returned to a member on his or her retirement. Capital is accordingly accounted for as a liability of the LLP. 
Each member may lend money to the LLP on such terms as shall be agreed between the relevant member and the LLP.


3.


Employees

The entity has no employees.

Page 8

 

CONSTANTINE GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Fixed asset investments





Unlisted investments

$000



Cost or valuation


At 1 December 2022
191,470


Additions
6,397


Disposals
(6,292)


Fair value movements
14,851



At 30 November 2023
206,426





5.


Creditors: amounts falling due within one year

2023
2022
$000
$000

Other creditors
9
16

Accruals
125
22

134
38



6.


Loans and other debts due to members


2023
2022
$000
$000



Members' capital treated as debt
273
241

Other amounts due to members
57,837
43,107

58,110
43,348

Loans and other debts due to members may be further analysed as follows:

2023
2022
$000
$000



Falling due within one year
58,110
43,348

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 9