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REGISTERED NUMBER: 05126460 (England and Wales)















Financial Statements

for the Year Ended 31st December 2024

for

Bowsprit Partners Limited

Bowsprit Partners Limited (Registered number: 05126460)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Bowsprit Partners Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: I D Towell
R Davidowski
L Brime Berdugo





REGISTERED OFFICE: Birchin Court
20 Birchin Lane
Bank
London
EC3V 9DU





REGISTERED NUMBER: 05126460 (England and Wales)





AUDITORS: Spencer Hyde Limited
Statutory Auditor
272 Regents Park Road
London
N3 3HN

Bowsprit Partners Limited (Registered number: 05126460)

Statement of Financial Position
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,097 1,343

CURRENT ASSETS
Debtors 5 124,576 86,366
Investments 6 32,441 56,804
Cash at bank 80,369 119,340
237,386 262,510
CREDITORS
Amounts falling due within one year 7 55,683 92,515
NET CURRENT ASSETS 181,703 169,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,800

171,338

PROVISIONS FOR LIABILITIES 3,462 3,811
NET ASSETS 179,338 167,527

CAPITAL AND RESERVES
Called up share capital 139,861 139,861
Retained earnings 39,477 27,666
179,338 167,527

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th April 2025 and were signed on its behalf by:




I D Towell - Director R Davidowski - Director




L Brime Berdugo - Director


Bowsprit Partners Limited (Registered number: 05126460)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Bowsprit Partners 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 presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Revenue is recognised when the company is contractually obliged to receive the income from the client. In relation to the corporate finance fee, this is normally split one third on engagement, one third after a specific milestone has been achieved like the production of certain transaction documents, and one third on successful completion of the relevant transaction.

In addition, the company receives commission as a percentage of the funds raised. This is a success-based fee and therefore recognised only upon completion of the investment, when the client has effectively received the funds.

It is worth noting that not all clients undertaken by the company require for the provision of both corporate finance and fundraising services, although in many occasions these two revenue generating services are intrinsically connected and performed by the company within the framework of the same transaction.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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.

Bowsprit Partners Limited (Registered number: 05126460)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 2,562
Additions 333
At 31st December 2024 2,895
DEPRECIATION
At 1st January 2024 1,219
Charge for year 579
At 31st December 2024 1,798
NET BOOK VALUE
At 31st December 2024 1,097
At 31st December 2023 1,343

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 114,314 58,140
Amounts owed by group undertakings 902 5,066
Other debtors 9,360 23,160
124,576 86,366

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other investments 32,441 56,804

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,392 84,340
Taxation and social security 18,723 7,682
Other creditors 568 493
55,683 92,515

Bowsprit Partners Limited (Registered number: 05126460)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Antony Youselli (Senior Statutory Auditor)
for and on behalf of Spencer Hyde Limited

9. RELATED PARTY DISCLOSURES

The controlling party is Magellan Financial Ltd by virtue of their 71.5% shareholding in the company.

Magellan Financial Ltd prepares group financial statements and their registered office is:
Ocean Centre
Montagu Foreshore
East Bay Street
PO Box SS 19084
Nassau
Bahamas