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REGISTERED NUMBER: 13990934 (England and Wales)















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: F J Hora
R Leekha





REGISTERED OFFICE: 84 Brook Street
London
W1K5EH





REGISTERED NUMBER: 13990934 (England and Wales)





AUDITORS: Macalvins Limited
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 17,203 21,220

CURRENT ASSET
Debtors 5 1,587,394 1,041,116
Cash at bank and in hand 575,478 84,115
2,162,872 1,125,231
CREDITORS
Amounts falling due within one year 6 1,673,028 1,081,156
NET CURRENT ASSETS 489,844 44,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

507,047

65,295

CAPITAL AND RESERVES
Called up share capital 350,000 100
Retained earnings 157,047 65,195
507,047 65,295

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 11 April 2025 and were signed on its behalf by:





F J Hora - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

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 7 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024 24,783
Additions 2,377
At 31 December 2024 27,160
DEPRECIATION
At 1 January 2024 3,563
Charge for year 6,394
At 31 December 2024 9,957
NET BOOK VALUE
At 31 December 2024 17,203
At 31 December 2023 21,220

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 1,548,198 985,826
Deposit Paid 17,850 17,000
VAT 11,755 29,697
Prepayments 9,591 8,593
1,587,394 1,041,116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 16,270 18,553
Corporation Tax payable 29,463 12,011
PAYE Tax Payable 29,702 36,777
Pension Fund Payable 1,431 1,725
Accruals 1,596,162 1,012,090
1,673,028 1,081,156

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

The Report of the Auditors was unqualified.

Pankaj Rajani (Senior Statutory Auditor)
for and on behalf of Macalvins Limited

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.