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Financial Statements |
Contents |
Page |
Members' report |
1 |
Independent auditor's report to the members |
3 |
Statement of comprehensive income |
7 |
Statement of financial position |
8 |
Reconciliation of members' interests |
9 |
Notes to the financial statements |
11 |
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Members' Report |
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Designated Member |
Registered office: |
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England |
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Independent Auditor's Report to the Members of
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Chartered accountants & statutory auditor |
2nd Floor |
32-33 Gosfield Street |
Fitzrovia |
London |
W1W 6HL |
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Statement of Comprehensive Income |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Operating profit |
7 |
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Profit for the financial year before members' remuneration and profit shares available for discretionary division among members |
8,992,108 |
4,224,679 |
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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Intangible assets |
9 |
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Tangible assets |
10 |
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Debtors |
11 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
12 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Other amounts |
14 |
7,952,116 |
3,076,353 |
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Members' capital classified as equity |
35,000,000 |
35,000,000 |
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Other reserves, including the fair value reserve |
– |
– |
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42,952,116 |
38,076,353 |
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Loans and other debts due to members |
14 |
7,952,116 |
3,076,353 |
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Members' other interests |
35,000,000 |
35,000,000 |
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42,952,116 |
38,076,353 |
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Designated Member |
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Reconciliation of Members' Interests |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
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Members' capital (classified as equity) |
Other reserves, including the fair value reserve |
Total |
Other amounts |
Total |
Total 2024 |
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£ |
£ |
£ |
£ |
£ |
£ |
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Balance at 1 April 2023 |
35,000,000 |
– |
35,000,000 |
3,076,353 |
3,076,353 |
38,076,353 |
Profit for the financial year available for discretionary division among members |
8,992,108 |
8,992,108 |
8,992,108 |
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Members' interests after profit for the year |
35,000,000 |
8,992,108 |
43,992,108 |
3,076,353 |
3,076,353 |
47,068,461 |
Other division of profits |
(8,992,108) |
(8,992,108) |
8,992,108 |
8,992,108 |
– |
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Introduced by members |
– |
– |
– |
– |
– |
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Drawings |
(4,116,345) |
(4,116,345) |
(4,116,345) |
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Balance at 31 March 2024 |
35,000,000 |
– |
35,000,000 |
7,952,116 |
7,952,116 |
42,952,116 |
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Reconciliation of Members' Interests (continued) |
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
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Members' capital (classified as equity) |
Other reserves, including the fair value reserve |
Total |
Other amounts |
Total |
Total 2023 |
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£ |
£ |
£ |
£ |
£ |
£ |
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Balance at 1 April 2022 |
– |
– |
– |
– |
– |
– |
Profit for the financial period available for discretionary division among members |
4,224,679 |
4,224,679 |
4,224,679 |
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Members' interests after profit for the period |
– |
4,224,679 |
4,224,679 |
– |
– |
4,224,679 |
Other division of profits |
(4,224,679) |
(4,224,679) |
4,224,679 |
4,224,679 |
– |
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Introduced by members |
35,000,000 |
35,000,000 |
– |
– |
35,000,000 |
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Drawings |
(1,148,326) |
(1,148,326) |
(1,148,326) |
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Balance at 31 March 2023 |
35,000,000 |
– |
35,000,000 |
3,076,353 |
3,076,353 |
38,076,353 |
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Notes to the Financial Statements |
1. |
General information |
2. |
Statement of compliance |
3. |
Accounting policies |
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Notes to the Financial Statements (continued) |
Fixtures and fittings |
- |
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Motor Vehicle |
- |
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Equipments |
- |
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4. |
Turnover |
2024 |
2023 |
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£ |
£ |
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Rendering of services |
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5. |
Staff costs |
2024 |
2023 |
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£ |
£ |
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Wages and salaries |
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Social security costs |
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Other pension costs |
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6. |
Auditor's remuneration |
2024 |
2023 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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-------- |
-------- |
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7. |
Operating profit |
2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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-------- |
-------- |
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8. |
Information in relation to members |
2024 |
2023 |
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£ |
£ |
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Highest paid members remuneration |
7,617,289 |
2,924,679 |
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2024 |
2023 |
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No. |
No. |
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Average number of members |
10 |
7 |
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9. |
Intangible assets |
Other intangible assets |
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£ |
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Cost |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 and 31 March 2024 |
– |
------------- |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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10. |
Tangible assets |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
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Additions |
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– |
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-------- |
-------- |
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--------- |
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At 31 March 2024 |
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-------- |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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-------- |
-------- |
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--------- |
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At 31 March 2024 |
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-------- |
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Carrying amount |
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At 31 March 2024 |
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-------- |
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--------- |
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At 31 March 2023 |
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-------- |
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11. |
Debtors |
2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Social security and other taxes |
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Deferred Consideration |
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Other creditors |
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------------ |
------------ |
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13. |
Employee benefits |
14. |
Loans and other debts due to members |
2024 |
2023 |
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£ |
£ |
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Amounts owed to members in respect of profits |
7,952,116 |
3,076,353 |
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15. |
Controlling party |