Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falseinvestment management services2false2024-01-012falsefalse 13519621 2024-01-01 2024-12-31 13519621 2022-08-01 2023-12-31 13519621 2024-12-31 13519621 2023-12-31 13519621 2022-08-01 13519621 1 2024-01-01 2024-12-31 13519621 1 2022-08-01 2023-12-31 13519621 3 2024-01-01 2024-12-31 13519621 3 2022-08-01 2023-12-31 13519621 d:Director1 2024-01-01 2024-12-31 13519621 d:Director2 2024-01-01 2024-12-31 13519621 d:RegisteredOffice 2024-01-01 2024-12-31 13519621 e:OfficeEquipment 2024-01-01 2024-12-31 13519621 e:OfficeEquipment 2024-12-31 13519621 e:OfficeEquipment 2023-12-31 13519621 e:OfficeEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519621 e:ComputerEquipment 2024-01-01 2024-12-31 13519621 e:ComputerEquipment 2024-12-31 13519621 e:ComputerEquipment 2023-12-31 13519621 e:ComputerEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519621 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 13519621 e:CurrentFinancialInstruments 2024-12-31 13519621 e:CurrentFinancialInstruments 2023-12-31 13519621 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 13519621 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 13519621 e:ReportableOperatingSegment1 2024-01-01 2024-12-31 13519621 e:ReportableOperatingSegment1 2022-08-01 2023-12-31 13519621 e:ShareCapital 2024-01-01 2024-12-31 13519621 e:ShareCapital 2024-12-31 13519621 e:ShareCapital 2022-08-01 2023-12-31 13519621 e:ShareCapital 2023-12-31 13519621 e:ShareCapital 2022-08-01 13519621 e:SharePremium 2024-01-01 2024-12-31 13519621 e:SharePremium 2024-12-31 13519621 e:SharePremium 2022-08-01 2023-12-31 13519621 e:SharePremium 2023-12-31 13519621 e:SharePremium 2022-08-01 13519621 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13519621 e:RetainedEarningsAccumulatedLosses 2024-12-31 13519621 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-12-31 13519621 e:RetainedEarningsAccumulatedLosses 2023-12-31 13519621 e:RetainedEarningsAccumulatedLosses 2022-08-01 13519621 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-12-31 13519621 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 13519621 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:UnlistedNon-exchangeTraded 2024-12-31 13519621 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:UnlistedNon-exchangeTraded 2023-12-31 13519621 d:OrdinaryShareClass1 2024-01-01 2024-12-31 13519621 d:OrdinaryShareClass1 2024-12-31 13519621 d:OrdinaryShareClass1 2023-12-31 13519621 d:OrdinaryShareClass2 2024-01-01 2024-12-31 13519621 d:OrdinaryShareClass2 2024-12-31 13519621 d:OrdinaryShareClass3 2024-01-01 2024-12-31 13519621 d:OrdinaryShareClass3 2024-12-31 13519621 d:FRS102 2024-01-01 2024-12-31 13519621 d:Audited 2024-01-01 2024-12-31 13519621 d:FullAccounts 2024-01-01 2024-12-31 13519621 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13519621 e:Subsidiary1 2024-01-01 2024-12-31 13519621 e:Subsidiary1 1 2024-01-01 2024-12-31 13519621 e:WithinOneYear 2024-12-31 13519621 e:WithinOneYear 2023-12-31 13519621 2 2024-01-01 2024-12-31 13519621 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13519621









LOH-GRONAGER PARTNERS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LOH-GRONAGER PARTNERS LIMITED
 
 
COMPANY INFORMATION


Directors
J L Goodman 
A Loh-Gronager 




Registered number
13519621



Registered office
23 Berkeley Square
Mayfair

London

W1J 6HE




Independent auditor
Rawlinson & Hunter Audit LLP
Chartered Accountants & Statutory Auditor

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
LOH-GRONAGER PARTNERS LIMITED
 

CONTENTS



Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 9
Profit and loss account
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Analysis of net debt
14
Notes to the financial statements
15 - 27


 
LOH-GRONAGER PARTNERS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The directors present their Annual Report, comprising the Strategic Report and the Directors' Report, and the audited financial statements for Loh-Gronager Partners Limited ("the company") for the year ended 31 December 2024. The comparatives in the financial statements cover the 17 month period from 1 August 2022 to 31 December 2023.

Business review and future developments
 
The principal activity of the company is the provision of investment advisory services.
The company formed a new subsidiary in the year, Kristjan Jespersen - Loh-Gronager Partners Consulting Limited. This entity was incorporated on 1 March 2024 under the name Loh-Gronager Partners Consulting Limited and subsequently changed its name to Kristjan Jespersen - Loh-Gronager Partners Consulting Limited on 28 October 2024. The subsidiary remained dormant throughout the period and as such, these financial statements have been prepared on an individual company basis and do not include consolidated group financials. 
The results for the year are shown on page 10. Turnover for the financial year is £599,986 (
2023 - 17 month period £100,374) and profit for the financial year is £80,618 (2023 - loss - 17 month period £833,494). This is the second period of trading for the company. The directors anticipate that the company’s level of activity will increase in the coming years as the value of funds under management increases. The nature of these services require the company to be registered with the Financial Conduct Authority (“FCA”) and to bear the resulting administration costs associated with maintaining that registration. 
During the year, the company issued capital to enhance working capital. A total of 140,000 Ordinary A shares were issued at their nominal value of £1 per share, 965,608 Ordinary B shares at a nominal value of £0.001 per share and 459,813 Preferred Ordinary shares at a price of £1.087398 per share, with a nominal value of £1 per share. Total funds raised was £640,972.
The company is classified as a small and non-interconnected (“SNI”) form per the requirements set out under the FCA’s Prudential sourcebook for MiFID Investment Firms (“MIFIDPRU”). A SNI firm is the lowest Investment Firm Prudential Regime (IFPR) category reflecting the fact that the company represents a low risk to the financial system as the company does not deal on its own account, hold client money or exceed certain pre-determined thresholds.
As a SNI firm, capital required to be maintained is the higher of the permanent minimum capital (“PMR”) and 25% of its fixed annual expenses (“FOR”). As at 31 December 2024, the company’s capital for capital adequacy purposes as reported to the FCA was £435,000, the PMR was £75,000 and the FOR £98,000. Accordingly the total own funds surplus amounted to £337,000 as at 31 December 2024.

Page 1

 
LOH-GRONAGER PARTNERS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Principal risks and uncertainties
 
Business and operational risk
Threats to the long term viability of the company could result from potential changes in the business environment or client behaviour. 
Following ongoing worldwide conflicts, management have reviewed operations and confirm that is has in place the necessary controls to ensure compliance with UK Government sanctions. Additionally, the directors have assessed the potential impact on the company's operational activities due to these sanctions and considers that any changes resulting from compliance with these sanctions are likely to have a minimal impact on its operational activities, taking due account of mitigation actions where appropriate. 
Inflation and interest rates remain uncertain and most industries and companies are facing insecurity on certain vital costs for their businesses. This remains a risk to the future profitability of the company.
Regulatory risk
As a regulated business in the UK, breaches of regulatory rules may lead to sanctions by the FCA. 
Financial risk
Inadequate controls or policies could lead to misappropriation of assets and failure to comply with accounting standards and related regulations. 
Foreign exchange risk
The company may be exposed to movements in foreign exchange rates as a result of transactions with customers and suppliers. The directors do not consider the company is exposed to significant foreign exchange risk. 
Liquidity and capital risk
The company manages the liquidity position with the objective of maintaining the FCA’s solvency and FCA capital adequacy requirements that the company must meet in order to maintain its FCA registration. 

Financial key performance indicators
 
The directors consider the key performance indicators to be profitability, cash flow and satisfying FCA capital adequacy requirements, which can be found within this Report and the Financial Statements.

Stewardship Code disclosures
 
The Stewardship Code (“the Code”) was published by the Financial Reporting Council (“FRC”), the UK’s independent regulator responsible for promoting high quality corporate governance and reporting in order to foster investment. The Code sets out good practice for institutional investors in their dealings with the companies in which they have invested.
The FCA’s regulations outline the company’s obligations in relation to the Code and for firms which manage assets for corporate professional clients to disclose to these clients the nature of their commitment to the Code, or where it does not commit to the Code, its alternative business model.
The company aims to apply the principles of the Code in all markets in which it operates and insofar as it applies to the company’s activities. 

Page 2

 
LOH-GRONAGER PARTNERS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Section 172(1) statement
 
The company’s long term strategy is to establish and maintain revenue streams in order to generate profits.
A loss of key staff or reputation may lead to a fall in demand for the company’s advisory services and the company therefore places emphasis on the manner in which it conducts business and provides training and support to all staff.
The company has considered its resourcing requirements and has put in place plans for it to ensure it provides an efficient and cost effective service to current and future customers.
Relationships with suppliers are seen as essential to providing high level of service and regular contact is made with suppliers to maintain these.
The need to act fairly between members of the company is adhered to as the company has three classes of shares in place and the director, A Loh-Gronager is considered the person with significant control.


This report was approved by the board and signed on its behalf.



A Loh-Gronager
Director

Date: 4 April 2025

Page 3

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024. The prior period comparatives cover the 17 month period from 1 August 2022 to 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £80,618 (2023 - loss £833,494).

The directors do not propose the payment of a dividend on the Ordinary shares.

Directors

The directors who served during the year were:

J L Goodman 
A Loh-Gronager 

Matters covered in the Strategic report

The company's business review and future developments, principal risks and uncertainties, key performance indicators and s172 statement are set out in the Strategic Report.

Page 4

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Going concern

The directors have undertaken a review of the forecasts of the company, including cash flow projections, to ascertain the working capital and funding requirements of the company. This review has also considered operational pressures created by the current uncertainty of the UK and Western economies.
The ultimate controlling party, A Loh-Gronager, has confirmed he will continue to make sufficient funds available to the company for a period of at least 12 months from the date of signing these financial statements to enable liabilities to be met as and when they fall due and satisfy FCA capital adequacy requirements. 
On this basis the directors are satisfied that the company has adequate financial resources to continue to operate as a going concern for the forthcoming 12 months. Accordingly these financial statements have been prepared on a going concern basis. 

Post balance sheet events

There have been no significant events affecting the company since the year end.

Auditor

Under section 487(2) of the Companies Act 2006Rawlinson & Hunter Audit LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





A Loh-Gronager
Director

Date: 4 April 2025

Page 5

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOH-GRONAGER PARTNERS LIMITED
 

Opinion


We have audited the financial statements of Loh-Gronager Partners Limited ("the company") for the year ended 31 December 2024, which comprise the Profit and loss account, the Balance sheet, the Statement of cash flows, the Statement of changes in equity, the Analysis of net debt and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOH-GRONAGER PARTNERS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report and Financial Statements other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report and Financial StatementsOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.



Page 7

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOH-GRONAGER PARTNERS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our assessment of the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur, is considered to be low. This conclusion was reached after the consideration of the following: 
 
due to the relatively simple business model and low number of transactions within the company there are comparatively few unexpected fluctuations in the reported results and balances and any such unexpected items would be specifically enquired into by us; and
there are a number of individuals which comprise "management" therefore there is no single individual who is likely to be able to override controls to effect a fraud.

We designed our audit procedures to respond to identified audit risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below: 

the review of control accounts and journal entries for large, unusual or unauthorised entries;
the review of the company's FCA returns to assess compliance with the FCA's capital, solvency and client asset requirements;
the review of the detailed profit and loss account for variances that are either unexpected or considered not to be in accordance with our understanding of the business during the year;
obtaining and reviewing for completeness a list of entities and persons considered to be related parties (as defined by Financial Reporting Standard 102) and reviewing the ledgers of the company for previously unreported related party transactions; and
review of transactions and journals for any indication of fraud or management override.

Page 8

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOH-GRONAGER PARTNERS LIMITED (CONTINUED)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





William Watson (Senior statutory auditor)
  
for and on behalf of
Rawlinson & Hunter Audit LLP
 
Statutory Auditor 
Chartered Accountants
  
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ

4 April 2025
Page 9

 
LOH-GRONAGER PARTNERS LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

Year ended 31 December
17 month period ended
31 December
2024
2023
Note
£
£

  

Turnover
 4 
599,986
100,374

Gross profit
  
599,986
100,374

Administrative expenses
  
(520,925)
(935,027)

Operating profit/(loss)
 5 
79,061
(834,653)

Interest receivable and similar income
  
1,557
1,159

Profit/(loss) before tax
  
80,618
(833,494)

Tax on profit/(loss)
 9 
-
-

Profit/(loss) for the financial year/period
  
80,618
(833,494)

There are no items of other comprehensive income for 2024 or 2023 other than the profit/(loss) for the year/ period.

The notes on pages 15 to 27 form part of these financial statements.

Page 10

 
LOH-GRONAGER PARTNERS LIMITED
REGISTERED NUMBER: 13519621

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
9,970
18,886

Investments
 11 
100
-

  
10,070
18,886

Current assets
  

Debtors: amounts falling due within one year
 12 
554,250
131,851

Cash at bank and in hand
 13 
489,441
176,024

  
1,043,691
307,875

Creditors: amounts falling due within one year
 14 
(63,475)
(58,065)

Net current assets
  
 
 
980,216
 
 
249,810

Total assets less current liabilities
  
990,286
268,696

  

Net assets
  
990,286
268,696


Capital and reserves
  

Called up share capital 
 16 
2,100,779
1,500,000

Share premium account
 17 
40,193
-

Profit and loss account
 17 
(1,150,686)
(1,231,304)

  
990,286
268,696




The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Loh-Gronager
Director

Date: 4 April 2025

The notes on pages 15 to 27 form part of these financial statements.
Page 11

 
LOH-GRONAGER PARTNERS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 August 2022
250,001
-
(397,810)
(147,809)



Loss for the period
-
-
(833,494)
(833,494)

Shares issued during the period
1,249,999
-
-
1,249,999



At 1 January 2024
1,500,000
-
(1,231,304)
268,696



Profit for the year
-
-
80,618
80,618

Shares issued during the year (Note 16)
600,779
40,193
-
640,972


At 31 December 2024
2,100,779
40,193
(1,150,686)
990,286


The notes on pages 15 to 27 form part of these financial statements.

Page 12

 
LOH-GRONAGER PARTNERS LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

Year ended 31 December 2024
17 month period ended 31 December 2023
£
£

Cash flows from operating activities

Profit/(loss) for the financial year/ period
80,618
(833,494)

Adjustments for:

Depreciation of tangible assets
8,916
12,380

Interest received
(1,557)
(1,159)

Increase in debtors
(422,399)
(101,392)

Increase/(decrease) in creditors
5,410
(291,648)

Net cash used in operating activities

(329,012)
(1,215,313)


Cash flows from investing activities

Purchase of tangible fixed assets
-
(1,276)

Purchase of fixed asset investments
(100)
-

Interest received
1,557
1,159

Net cash generated/(used in) investing activities

1,457
(117)

Cash flows from financing activities

Issue of ordinary shares
640,972
1,249,999

Net cash generated from financing activities
640,972
1,249,999

Net increase in cash and cash equivalents
313,417
34,569

Cash and cash equivalents at beginning of year/period
176,024
141,455

Cash and cash equivalents at the end of year/period
489,441
176,024


Cash and cash equivalents at the end of year/period comprise:

Cash at bank and in hand
489,441
176,024

489,441
176,024


The notes on pages 15 to 27 form part of these financial statements.

Page 13

 
LOH-GRONAGER PARTNERS LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

176,024

313,417

489,441


176,024
313,417
489,441

The notes on pages 15 to 27 form part of these financial statements.
Page 14

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Loh-Gronager Partners Limited ("the company") is a private company limited by shares and is incorporated and domiciled in the United Kingdom. The address of its registered office is 23 Berkeley Square, Mayfair, London, England , W1J 6HE. The UK registration number is 13519621. The comparatives in the financial statements cover the period from 1 August 2022 to 31 December 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The financial statements contain information about Loh-Gronager Partners Ltd as an individual company and do not contain consolidated financial information as the parent of a group.

The following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The directors have elected to apply the exemption under Section 405(2) of the Companies Act 2006 from preparing consolidated financial statements. This exemption has been applied on the grounds that the company's sole subsidiary, Kristjan Jespersen - Loh-Gronager Partners Consulting Limited, is immaterial for the purposes of providing a true and fair view of the results and financial position of the company.

 
2.3

Going concern

The directors have undertaken a review of the forecasts of the company, including cash flow projections, to ascertain the working capital and funding requirements of the company. This review has also considered operational pressures created by the ongoing geopolitical conflicts.
The ultimate controlling party, A Loh-Gronager, has confirmed he will continue to make sufficient funds available to the company for a period of at least 12 months from the date of signing these financial statements to enable liabilities to be met as and when they fall due and satisfy FCA capital adequacy requirements. 
On this basis the directors are satisfied that the company has adequate financial resources to continue to operate as a going concern for the forthcoming 12 months. Accordingly these financial statements have been prepared on a going concern basis. 

Page 15

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses''.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 16

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

  
2.7

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that results in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 17

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 18

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements.
 

4.


Turnover

Year ended 31 December
17 month period ended
31 December
2024
2023
£
£

Investment management fees
599,986
100,374

599,986
100,374


All turnover arose within the United Kingdom.

Page 19

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Operating profit/(loss)

The operating profit/(loss) is stated after charging:

Year ended 31 December
17 month period ended
31 December
2024
2023
£
£

Exchange differences
2,600
802

Other operating lease rentals
63,099
82,948

Depreciation on tangible fixed assets
8,916
12,380


6.


Auditor's remuneration

During the year/period, the company obtained the following services from the company's auditor:


Year ended 31 December 
17 month period ended
31 December
2024
2023
£
£

Fees payable to the company's auditor for the audit of the company's financial statements
15,450
12,500
Page 20

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Employees

Year ended 31 December 
17 month period ended
31 December
2024
2023
£
£

Wages and salaries
80,667
210,833

Social security costs
8,622
28,495

Cost of defined contribution scheme
15,253
8,592

104,542
247,920


The average monthly number of employees, including the directors, during the year/period was as follows:


Year ended 31 December
17 month period ended
      31 December
        2024
        2023
            No.
            No.







Directors
2
2


8.


Directors' remuneration

Year ended 31 December
17 month period ended
31 December
2024
2023
£
£

Directors' emoluments
50,167
205,833

Directors pension costs
9,513
7,592

59,680
213,425


During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.
The amounts shown above relate to 1 director hence directors' emoluments and contributions paid to a defined contribution scheme in respect of the highest paid director are shown by the balances above.
Key management personnel comprises the directors only. 

Page 21

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Taxation


Year ended 31 December
17 month period ended
31 December
2024
2023
£
£



Total current tax
-
-

Deferred tax

Total deferred tax
-
-


Taxation on profit on ordinary activities
-
-

Factors affecting tax charge for the year/period

The tax assessed for the year/period is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

Year ended 31 December
17 month period ended
31 December
2024
2023
£
£


Profit/(loss) on ordinary activities before tax
80,618
(833,494)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
20,155
(158,364)

Effects of:


Expenses not deductible for tax purposes
16,358
-

Movement in deferred tax not recognised
(36,513)
-

Unrelieved tax losses carried forward
-
158,364

Total tax charge for the year/period
-
-


Factors that may affect future tax charges

There were no charges that might affect future tax charges.

Page 22

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
19,919
15,744
35,663



At 31 December 2024

19,919
15,744
35,663



Depreciation


At 1 January 2024
10,478
6,299
16,777


Charge for the year on owned assets
4,980
3,936
8,916



At 31 December 2024

15,458
10,235
25,693



Net book value



At 31 December 2024
4,461
5,509
9,970



At 31 December 2023
9,441
9,445
18,886


11.


Investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
-


Additions
100



At 31 December 2024
100




Page 23

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertaking


The subsidiary undertaking of the company which was incorporated in the year was Kristjan Jespersen - Loh-Gronager Partners Consulting Limited. The company remained dormant throughout the year and the following details apply:

Name

Registered office

Class of shares

Holding

Kristjan Jespersen - Loh-Gronager Partners Consulting Limited
23 Berkeley Square, Mayfair, London, United Kingdom, W1J 6HE
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Kristjan Jespersen - Loh-Gronager Partners Consulting Limited
100
-


12.


Debtors

2024
2023
£
£


Trade debtors
95,269
-

Other debtors
7,600
7,600

Prepayments and accrued income
451,381
124,251

554,250
131,851



13.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
489,441
176,024

489,441
176,024


Page 24

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
525
27,155

Other taxation and social security
2,250
1,984

Other creditors
38,500
1,333

Accruals and deferred income
22,200
27,593

63,475
58,065


Included in other creditors is an amount owed to a director of £38,400 (2023 - £NIL) which was unsecured, interest free and repayable on demand. 


15.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
489,441
176,024

Financial assets measured at amortised cost
525,727
101,600

Financial assets that are equity instruments measured at cost less impairment
100
-

1,015,268
277,624


Financial liabilities


Financial liabilities measured at amortised cost
(61,225)
(56,081)


Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.
Financial assets held at amortised cost comprise trade debtors, other debtors and accrued income
Financial assets that are equity instruments measured at cost less impairment comprise of investments.


Financial liabilities measured at amortised cost comprise trade creditors, other creditors and accruals.
Page 25

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,640,000 (2023 - 1,500,000) Ordinary A shares of £1.000 each
1,640,000
1,500,000
965,608 (2023 - Nil) Ordinary B shares of £0.001 each
966
-
459,813 (2023 - Nil) Preferred shares of £1.000 each
459,813
-

2,100,779

1,500,000

During the year, the company renamed and reclassified its Ordinary shares to Ordinary A shares.
The company issued a total of 140,000 (2023 - 1,249,999) new Ordinary A shares during the year at its nominal value of £1 per share.
Additionally, the company issued 965,608 (2023 - Nil) new Ordinary B shares to shareholders at its  nominal value of £0.001 per share.
Furthermore, 459,813 (2023 - Nil) new Preferred Ordinary shares with a nominal value of £1 per share were issued to new shareholders. These shares were issued at a value of £1.087398 per share, resulting in a total share premium of £40,193 (2023 - Nil)  being recognised in the share premium account.
As noted from the above, the company’s share capital consists of Ordinary A Shares, Ordinary B Shares, and Preferred Ordinary Shares, each with specific rights as summarised below:

Ordinary A and Ordinary B Shares holders have full voting rights, with each share carrying one vote. They are entitled to dividends and distributions as declared by the company.
Preferred Ordinary Shares holders have a fixed aggregate voting power of 150 votes, shared proportionally among them. These shares carry priority in dividend distributions and may have preferential rights in the event of liquidation.
General meetings require a quorum of at least two classification of shareholders, including at least one Preferred Ordinary Shareholder.

Further details on the share rights and restrictions are available in the company's Articles of Association filed with Companies House.



17.


Reserves

Share premium account

The share premium account represents the equity component of the shares above their par value as disclosed on Note 16.

Profit and loss account

The profit and loss account represents accumulated comprehensive profit or losses for the year and prior
periods.

Page 26

 
LOH-GRONAGER PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

18.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,253 (2023 - £8,592). Contributions totaling £Nil (2023 - £1,333) were payable to the fund at the balance sheet date and are included in trade creditors.


19.


Commitments under operating leases

At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
15,084
15,084

15,084
15,084


20.


Related party transactions

During the year, one of the directors made payments on behalf of the company totaling £56,676 (2023 - £202,632). The amount due to the director  included in other creditors (Note 14) at the year end was £38,400 (2023 - £Nil). The amount is unsecured, interest free and repayable on demand.


21.


Controlling party

At the year end, the directors consider the ultimate controlling party to be A Loh-Gronager.

 
Page 27