REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
COMPLUS ASSET MANAGEMENT (UK) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
COMPLUS ASSET MANAGEMENT (UK) LIMITED |
COMPLUS ASSET MANAGEMENT (UK) LIMITED (REGISTERED NUMBER: 13990934) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COMPLUS ASSET MANAGEMENT (UK) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
COMPLUS ASSET MANAGEMENT (UK) LIMITED (REGISTERED NUMBER: 13990934) |
BALANCE SHEET |
31 DECEMBER 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSET |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The financial statements were approved by the Board of Directors and authorised for issue on |
COMPLUS ASSET MANAGEMENT (UK) LIMITED (REGISTERED NUMBER: 13990934) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Complus Asset Management (UK) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The directors hold a confident outlook regarding the Company's ability to sustain operational continuity in the foreseeable future, supported by the assurance of adequate resources. Hence, they persist in adopting the going concern basis while preparing the Financial Information. |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The company generates turnover by providing services to Complus Asset Management Limited as an investment adviser in a form of sub-advisory and management fees. |
Tangible fixed assets |
Computer equipment | - |
Trade and other payables |
Trade payables represent amounts due to suppliers for goods and services received in the ordinary course of business. Trade payables are initially recognized at the transaction price, which is the fair value of the consideration payable. |
Trade payables are subsequently measured at amortized cost using the effective interest method. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. |
The Company regularly reviews the carrying amounts of trade payables to ensure that they reflect the amounts payable at the reporting date. Any adjustments to the carrying amounts are recognized in profit or loss. |
Trade payables are classified as current liabilities unless the Company has an unconditional right to defer settlement for at least 12 months after the reporting period. |
Trade and other receivables |
Trade receivables are amounts due from customers for goods sold or services rendered in the ordinary course of business. Trade receivables are initially recognized at the transaction price, which is the fair value of the consideration received or receivable. |
Trade receivables are subsequently measured at amortized cost using the effective interest method, less any impairment losses. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. Any impairment losses are recognized in profit or loss. |
The Company regularly assesses the carrying amount of trade receivables to ensure that it reflects the recoverable amount and makes appropriate adjustments when necessary. |
Trade receivables are classified as current assets unless the Company has an unconditional right to defer settlement for at least 12 months after the reporting period. |
COMPLUS ASSET MANAGEMENT (UK) LIMITED (REGISTERED NUMBER: 13990934) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
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. |
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. |
Cash and cash equivalents |
Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value. |
Share capital - called up share capital |
When new shares are issued, they are recognised within share capital at their issue price. Costs incurred directly to the issue of shares are accounted for as a deduction from share capital (net of tax). |
Profit and loss accountant |
The profit and loss accountant constitutes the cumulative total of all current and prior period profits and losses. It represents the portion of profits that have been retained in the business rather than distributed to shareholders. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
COMPLUS ASSET MANAGEMENT (UK) LIMITED (REGISTERED NUMBER: 13990934) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Amount receivable from group undertaking |
Deposit Paid |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Corporation Tax payable |
PAYE Tax Payable |
Pension Fund Payable | 1,431 | 1,725 |
Accruals |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption available in FRS102 not to disclose transactions entered into between two or more members of the group that are wholly owned. |
During the previous year the company entered into a consultancy services agreement with Complus Asset Management Limited, which is a related party due to the fact Complus Asset Management Limited is a subsidiary of the same group as the company. Complus Asset Management (UK) Limited owed balance of £1,548,198 (31.12.2023: £985,826) by Complus Asset Management Limited as at year ended 31 December 2024. |
9. | PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
Complus Holdings Limited is incorporated in British Virgin Islands, the ultimate parent company is the primary reporting entity within the Complus Holdings group. Within its structure, Complus Investment Limited, an 85% subsidiary of Complus Holdings Limited, oversees various subsidiaries, including the wholly owned subsidiary Complus Asset Management (UK) Limited. Collectively, these entities form a consolidated group under the control of Complus Holdings Limited. |