Registered number
13483880
AMORARTIS DEBTCO LIMITED
Report and Accounts
30 June 2024
AMORARTIS DEBTCO LIMITED
Registered number: 13483880
Directors' Report
The directors present their report and accounts for the year ended 30 June 2024.
Principal activities
The company's principal activity during the year continued to be holding an investment in Soho Square Amoratis Investco LP.
Directors
The following persons served as directors during the year:
Stephen Edwards
Walid Fakhry
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 27 March 2025 and signed on its behalf.
Stephen Edwards
Director
AMORARTIS DEBTCO LIMITED
Accountants' Report
Accountants' report to the directors of
AMORARTIS DEBTCO LIMITED
You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Pi Accounting Ltd
Accountants
44 Russell Square
London
WC1B 4JP
27 March 2025
AMORARTIS DEBTCO LIMITED
Profit and Loss Account
for the year ended 30 June 2024
2024 2023
£ £
Administrative expenses (100,893) (100,049)
Operating loss (100,893) (100,049)
(Loss)/gain on investments held at fair value (4,552,453) 2,409,377
Income from investments 1,050,163 1,342,868
Interest payable (1,235,162) (1,663,103)
(Loss)/profit before taxation (4,838,345) 1,989,093
Tax on (loss)/profit - -
(Loss)/profit for the financial year (4,838,345) 1,989,093
AMORARTIS DEBTCO LIMITED
Registered number: 13483880
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Investments at FVTPL 3 12,497,430 20,049,883
Current assets
Debtors 4 762,404 567,255
Cash at cash equivalents 7,119 (40)
769,523 567,215
Creditors: amounts falling due within one year 5 (39,520) (38,800)
Net current assets 730,003 528,415
Total assets less current liabilities 13,227,433 20,578,298
Creditors: amounts falling due after more than one year 6 (11,337,296) (13,849,815)
Net assets 1,890,137 6,728,483
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,890,136 6,728,482
Shareholders' funds 1,890,137 6,728,483
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Edwards
Director
Approved by the board on 27 March 2025
AMORARTIS DEBTCO LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Critical accounting estimates and judgements
The preparation of financial statements in conformity with FRS 102 requires the use of accounting estimates and exercise of judgement by the directors while applying the company's accounting policies. These estimates are based on the directors' best knowledge of the events, which existed at the balance sheet date, however, the actual results may differ from these estimates.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 July 2023 20,049,883
Revaluation (4,552,453)
Disposals (3,000,000)
At 30 June 2024 12,497,430
Historical cost
At 1 July 2023 11,815,937
At 30 June 2024 8,815,937
In July 2021 the company acquired an equity interest in Soho Square Amoratis Investco LP
4 Debtors 2024 2023
£ £
Other debtors 762,404 567,255
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 39,520 38,800
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 11,337,296 13,849,815
7 Controlling party
Amorartis Debtco Limited is a wholly owned subsidiary of Soho Square Services LLP, a company registered in England with its registered office at 44 Russell Square, London, WC1B 4JP.
8 Other information
AMORARTIS DEBTCO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
44 Russell Square
London
WC1B 4JP
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