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REGISTERED NUMBER: 13169652 (England and Wales)












Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31 December 2023

for

Aurelius Investment Advisory Limited

Aurelius Investment Advisory Limited (Registered number: 13169652)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Aurelius Investment Advisory Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: T Nagler





REGISTERED OFFICE: 6th Floor
33 Glasshouse Street
London
W1B 5DG





REGISTERED NUMBER: 13169652 (England and Wales)





AUDITORS: Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

Aurelius Investment Advisory Limited (Registered number: 13169652)

Strategic Report
for the Year Ended 31 December 2023

The Company provides consultancy services to group companies regarding the acquisition of investments. The Company charges a fee for consultancy based on costs incurred rather than the uncertain project outcomes.

REVIEW OF BUSINESS
The trading performance of the financial year under review was broadly in line with the Board's strategic target and expectation. The company sales increased with total turnover for the year reaching £15.1m (2022 £13.5m).This increase in turnover is due to a conscious decision, made during 2023, to grow the business and increase the capabilities of the company to support consultancy services delivery. There was a resultant operating profit for the year of £71.3k, compared to a loss in 2022 of £0.984m. For the coming financial year, the company will continue to seek profitable growth. Given the current market conditions, the company expects to see favourable opportunities to operate.

PRINCIPAL RISKS AND UNCERTAINTIES
The director regularly takes steps to identify, manage and mitigate business risks. Trading in a competitive market requires the ability to assess and respond to any issues arising quickly and effectively, and maintaining good business relationship with key stakeholders.

The Aurelius management promptly analyses the situation of its portfolio companies in close consultation with the operating management teams of the group companies. The closeness to the group companies made it possible to devise and implement comprehensive action plans to protect the health of employees, minimise the risks to our business processes and soften the blow of the challenging external conditions at the different levels of holding companies and group companies.

ENGAGEMENT WITH EMPLOYEES
The director regularly takes steps to identify, manage and mitigate business risks. Trading in a competitive market requires the ability to assess and respond to any issues arising quickly and effectively, and maintaining good business relationship with key stakeholders.

The Aurelius management promptly analyses the situation of its portfolio companies in close consultation with the operating management teams of the group companies. The closeness to the group companies made it possible to devise and implement comprehensive action plans to protect the health of employees, minimise the risks to our business processes and soften the blow of the challenging external conditions at the different levels of holding companies and group companies.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Corporate Codex
Principles such as responsible, sustainable management are firmly embedded in the Aurelius ESG (Environmental Social Governance) policy, including:
No investment in the arms industry.
No investment in emissions-intensive companies.
No trading in weapons or armaments, tobacco or tobacco products.
Code of Conduct for suppliers and service providers.
Anti-corruption and anti-bribery policy.
Protection and support for whistleblowers.


Aurelius Investment Advisory Limited (Registered number: 13169652)

Strategic Report
for the Year Ended 31 December 2023

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
Environment:
The Principles for Responsible Investment (PRI) is a UN financial initiative launched with the aim of fostering sustainable investing. AURELIUS has been a member since 2021.

By implementing the PRI, AURELIUS aims to constantly enhance the sustainable investment approach, promoting corresponding business practices and encouraging other market participants to do the same actively and transparently.

AURELIUS is committed to minimising energy consumption and greenhouse gas (GHG) emissions and prioritises promoting sustainable mobility options to reduce the operational footprint and minimise environmental impacts.

At AURELIUS, Social Responsibility underpins the corporate strategy, extending beyond business operations to make impactful contributions to society. Key areas of engagement include employee health and safety, equal opportunities and employee development to attract outstanding talent.

AURELIUS believes that long-term sustainable corporate success is only possible when combined with responsible corporate governance, and this is firmly anchored in the corporate strategy. AURELIUS has identified data protection, independence and diversity of its Board as key governance issues. The corporate governance approach also includes overarching ethical principles, anti-corruption initiatives, measures against money laundering, fair competition and a ban on lobbying and party donations.

Measures have been introduced to permanently reduced CO2 emissions.
Reduction of flights through the increased use of video conferences and online meetings and using train travel as an alternative.
Precautions to prevent environmental damage.
CO2 offsetting of the flights of all holding company employees since the 2019 financial year.

Social commitment:
The AURELIUS Refugee Initiative is dedicated to improving the living conditions and future prospects of migrants and refugees in Germany and abroad, in particular by promoting life-saving measures and education. The Initiative was founded in 2015 based on the belief that help is most effective when delivered directly.

The Initiative has donated over GBP 1m to a number of projects since inception.

ON BEHALF OF THE BOARD:





T Nagler - Director


20 March 2025

Aurelius Investment Advisory Limited (Registered number: 13169652)

Report of the Director
for the Year Ended 31 December 2023

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

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

DIRECTOR
T Nagler held office during the whole of the period from 1 January 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS
The auditors, Venture House Business Service Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T Nagler - Director


20 March 2025

Report of the Independent Auditors to the Members of
Aurelius Investment Advisory Limited

Opinion
We have audited the financial statements of Aurelius Investment Advisory Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 company's affairs as at 31 December 2023 and of its 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 company 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.

Material uncertainty relating to going concern
We draw your attention to the going concern note. As stated, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors 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 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 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 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
Aurelius Investment Advisory Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 four, 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 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 company or to cease operations, or has no realistic alternative but to do so.

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:

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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.

Report of the Independent Auditors to the Members of
Aurelius Investment Advisory Limited


Other matters which we are required to address.
The corresponding figures are unaudited.

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.




Christopher Baylis (Senior Statutory Auditor)
for and on behalf of Venture House Business Service Limited
Chartered Accountants and
Statutory Auditors
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

24 March 2025

Aurelius Investment Advisory Limited (Registered number: 13169652)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   

REVENUE 15,110,288 13,505,046

Cost of sales 8,594,290 10,006,137
GROSS PROFIT 6,515,998 3,498,909

Administrative expenses 6,444,642 4,483,373
OPERATING PROFIT/(LOSS) 4 71,356 (984,464 )

Interest receivable and similar income 7,877 6,813
79,233 (977,651 )

Interest payable and similar expenses 5 313,469 101,523
LOSS BEFORE TAXATION (234,236 ) (1,079,174 )

Tax on loss 6 - 220
LOSS FOR THE FINANCIAL YEAR (234,236 ) (1,079,394 )

Aurelius Investment Advisory Limited (Registered number: 13169652)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   

LOSS FOR THE YEAR (234,236 ) (1,079,394 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(234,236

)

(1,079,394

)
Note
Prior year adjustment 7 (10,661 )
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

(244,897

)

Aurelius Investment Advisory Limited (Registered number: 13169652)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Investments 8 501,747 219,841

CURRENT ASSETS
Debtors 9 9,083,699 5,715,202
Cash at bank 101,263 375,086
9,184,962 6,090,288
CREDITORS
Amounts falling due within one year 10 11,465,876 7,855,060
NET CURRENT LIABILITIES (2,280,914 ) (1,764,772 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,779,167

)

(1,544,931

)

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (1,779,267 ) (1,545,031 )
SHAREHOLDERS' FUNDS (1,779,167 ) (1,544,931 )

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





T Nagler - Director


Aurelius Investment Advisory Limited (Registered number: 13169652)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 (465,637 ) (465,537 )

Changes in equity
Total comprehensive income - (1,068,733 ) (1,068,733 )
Balance at 31 December 2022 100 (1,534,370 ) (1,534,270 )
Prior year adjustment - (10,661 ) (10,661 )
As restated 100 (1,545,031 ) (1,544,931 )

Changes in equity
Total comprehensive income - (234,236 ) (234,236 )
Balance at 31 December 2023 100 (1,779,267 ) (1,779,167 )

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

1. STATUTORY INFORMATION

Aurelius Investment Advisory Limited 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 Company Information page.

The Company provides consultancy services to group companies regarding the acquisition of investments. The Company charges a fee for consultancy based on costs incurred rather than the uncertain project outcomes. This is outlined in the turnover and significant judgements policies. The inherent uncertainty in future revenue is reflected in the going concern note.

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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

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.

Significant judgements and estimates including going concern
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue is recognised based on recoverable amounts invoiced in the period, all costs are matched to these revenues as there is no certainty as to any future revenue related to such expenditure. The company relies upon the continued support of Aurelius Equity Opportunities SE & Co. KGaA. In reaching the conclusion as to going concern we have sought and obtained an indication of this continued support.

Turnover
Sales are consultancy services provided to Aurelius group companies and are recognised when invoiced.

Investments in subsidiaries
Investments in subsidiaries undertakings are recognised at cost net of impairments.

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables 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. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
as restated
£    £   
Wages and salaries 5,123,373 3,255,155
Social security costs 685,513 456,001
Other pension costs 27,908 14,309
5,836,794 3,725,465

The average number of employees during the year was as follows:
31.12.23 31.12.22
as restated

15 15

31.12.23 31.12.22
as restated
£    £   
Director's remuneration 457,601 670,570

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
as restated
£    £   
Emoluments etc 457,601 670,570

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

31.12.23 31.12.22
as restated
£    £   
Other operating leases 173,940 173,940
Auditors' remuneration 5,250 -
Auditors' remuneration for non audit work 2,250 -
Foreign exchange differences (38,868 ) 149,340

The prior year figures are unaudited.

The operating lease costs are amounts paid to an associate company on a sub lease agreement.

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
as restated
£    £   
Bank interest - 738
Loan 313,469 100,785
313,469 101,523

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
31.12.23 31.12.22
as restated
£    £   
Deferred tax - 220
Tax on loss - 220

7. PRIOR YEAR ADJUSTMENT

In the prior period's unaudited accounts, there were some omissions that were identified in the audit of the current year. All of the adjustments below relate to the prior year only and the impact is as follows :



Balance Sheet
Impact debit/(credit

)

Impact profit/(loss

)
Sales159,188
Foreign exchange loss(169,849)
Accrued Income159,188
Amounts due to group companies(1,578,030)
Accruals1,408,181

Overall Impact(10,661)(10,661)

8. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 219,841
Additions 281,906
At 31 December 2023 501,747
NET BOOK VALUE
At 31 December 2023 501,747
At 31 December 2022 219,841

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

8. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Aurelius Investment Advisory AG
Registered office: Unterer Anger 3, D-80331 Munich, Germany
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

Aurelius Investment Advisory AB
Registered office: Sturegatan 34, S-114 36 Stockholm, Sweden
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

Aurelius Advisory S.r.l
Registered office: Via San Pietro all'Orto 17, Milan, Italy
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

Aurelius Investment Advisory BV
Registered office: Herengracht 493, NL-1017 BT Amsterdam, Netherlands
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

Aurelius Investment Advisory Inc.
Registered office: 1270 Avenue of the Americas,New York, NY 10020, USA
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

After the year end, additional capital was purchased, the 100% ownership is unchanged.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 4,625,451 2,833,722
Amounts owed by group undertakings 311,211 101,136
Amounts owed by associates - 40
Other debtors - 433
VAT 2,829 -
Prepayments and accrued income 4,100,525 2,734,608
Prepayments 43,683 45,263
9,083,699 5,715,202

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade creditors 394,337 409,713
Amounts owed to group undertakings 2,298,780 1,933,022
Amounts owed to associates 7,172,613 3,425,997
Social security and other taxes 137,191 240,977
VAT - 41,803
Other creditors 395,575 710,322
Pension control 5,199 3,559
Accrued expenses 1,062,181 1,089,667
11,465,876 7,855,060

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: as
restated
£    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 January 2023 (1,534,370 )
Prior year adjustment (10,661 )
(1,545,031 )
Deficit for the year (234,236 )
At 31 December 2023 (1,779,267 )

13. ULTIMATE PARENT COMPANY

The majority of the shares in the company are owned by Aurelius Employee Pool Limited, with the remainder owned by Aurelius Investments Limited. The shareholders of Aurelius Employee Pool Limited are senior members of firm management, and Aurelius Investments Limited is 100% owned by AUR Portfolio III SE & Co. KGaA

14. RELATED PARTY DISCLOSURES

Other creditors includes £395,575 (2022: £709,522) due to companies under common control.

Within the amounts due to associated companies are loans totalling EUR 3.565m (2022 EUR 1.09m) and a loan for £250,000 (2022 £250,000). Interest is charged on these loans.

Also, there is a sub lease agreement with an associated company, rent is charged at £14,495 per month. The sub lease is ongoing with no period end, however, the lease may be terminated by either party on one month's written notice.

Aurelius Investment Advisory Limited (Registered number: 13169652)

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

15. GOING CONCERN

Revenue is recognised based on recoverable amounts invoiced in the period, all costs are matched to these revenues as there is no certainty as to any future revenue related to such expenditure. Never the less the company relies upon the continued support of AUR Portfolio III SE & Co. KGaA. It is the intention of the company that it will continue to trade for at least twelve months from the date of the audit report. To this regard AUR Portfolio III SE & Co. KGaA intends to offer such support as may be necessary to ensure this.