Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31002025-03-31falsefalsefalse2024-04-01a00false OC371396 2024-04-01 2025-03-31 OC371396 2023-04-01 2024-03-31 OC371396 2025-03-31 OC371396 2024-03-31 OC371396 2023-04-01 OC371396 5 2024-04-01 2025-03-31 OC371396 5 2023-04-01 2024-03-31 OC371396 9 2024-04-01 2025-03-31 OC371396 9 2023-04-01 2024-03-31 OC371396 10 2024-04-01 2025-03-31 OC371396 10 2023-04-01 2024-03-31 OC371396 d:ComputerEquipment 2024-04-01 2025-03-31 OC371396 d:ComputerEquipment 2025-03-31 OC371396 d:ComputerEquipment 2024-03-31 OC371396 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC371396 d:CurrentFinancialInstruments 2025-03-31 OC371396 d:CurrentFinancialInstruments 2024-03-31 OC371396 d:CurrentFinancialInstruments 2 2025-03-31 OC371396 d:CurrentFinancialInstruments 2 2024-03-31 OC371396 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 OC371396 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 OC371396 e:FRS102 2024-04-01 2025-03-31 OC371396 e:Audited 2024-04-01 2025-03-31 OC371396 e:FullAccounts 2024-04-01 2025-03-31 OC371396 e:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC371396 d:WithinOneYear 2025-03-31 OC371396 d:WithinOneYear 2024-03-31 OC371396 d:BetweenOneFiveYears 2025-03-31 OC371396 d:BetweenOneFiveYears 2024-03-31 OC371396 e:PartnerLLP1 2024-04-01 2025-03-31 OC371396 e:PartnerLLP2 2024-04-01 2025-03-31 OC371396 d:OtherCapitalInstrumentsClassifiedAsEquity 2025-03-31 OC371396 d:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC371396 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure
Registered number: OC371396














J8 CAPITAL MANAGEMENT LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

 
J8 CAPITAL MANAGEMENT LLP
 

INFORMATION




Designated Members

S C Chu
T A Sachs

LLP registered number

OC371396

Registered office

118 Pall Mall
London
SW1Y 5EA

Independent auditors

Sopher + Co LLP
Chartered Accountants
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD


 
J8 CAPITAL MANAGEMENT LLP
 

CONTENTS



Page
Members' Report
 
1 - 2
Independent Auditors' Report
 
3 - 6
Statement of Comprehensive Income
 
7
Statement of Financial Position
 
8
Reconciliation of Members' Interests
 
9
Statement of Cash Flows
 
10
Notes to the Financial Statements
 
11 - 16


 
J8 CAPITAL MANAGEMENT LLP
 
  
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The members present their annual report together with the audited financial statements of J8 Capital Management LLP (the "LLP") for the ended 31 March 2025
 

Designated Members
 
 
S C Chu and T A Sachs were designated members of the LLP throughout the period.
 

 
Policy with regards to members' drawings and subscriptions and repayment of members' capital
 
 
Members share profits and losses in accordance with the agreed profit sharing agreement. 
Members' capital and drawings are determined by the regulatory capital requirements of the Financial Conduct Authority (FCA) and any trading needs of the LLP. Members' capital is not repayable except where allowed under FCA rules.
 
 
Members' responsibilities statement
 
 
The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
 
 
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members 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 LLP and of the profit or loss of the LLP for that period.

In preparing these financial statements, the members are required to:
 
select suitable accounting policies 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 LLP will continue in business.
 

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008)They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 
Disclosure of information to auditors
 
 
Each of the persons who are members at the time when this Members' Report is approved has confirmed that:

so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and

that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information. 

Page 1

 
J8 CAPITAL MANAGEMENT LLP
 
 
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
 
 
Auditors
 
 
The auditorsSopher + Co LLPhave indicated their willingness to continue in office. The Designated members will propose a motion re-appointing the auditors at a meeting of the members.
 

This report was approved by the members on 19 June 2025 and signed on their behalf by:
 
 

T A Sachs
Designated member

Page 2

 
J8 CAPITAL MANAGEMENT LLP
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J8 CAPITAL MANAGEMENT LLP
 

Opinion


We have audited the financial statements of J8 Capital Management LLP (the 'LLP') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows 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 LLP's affairs as at 31 March 2025 and of its result 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP 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 members' 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 LLP'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 members with respect to going concern are described in the relevant sections of this report.


Page 3

 
J8 CAPITAL MANAGEMENT LLP
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J8 CAPITAL MANAGEMENT LLP (CONTINUED)

Other information


The members are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our 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.


In connection with our audit of the financial statementsour 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Members' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Members' Report has 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 LLP and its environment obtained in the course of the audit, we have not identified material misstatements in the Members' 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 members' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Members' Responsibilities Statement set out on page , the members 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 members 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 members are responsible for assessing the LLP'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 members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.


Page 4

 
J8 CAPITAL MANAGEMENT LLP
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J8 CAPITAL MANAGEMENT LLP (CONTINUED)

Auditors' 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 Auditors' 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 approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 
we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of similar businesses; 
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental, health and safety legislation and regulations set by the Financial Conduct Authority which are applicable to the LLP;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and 
understanding the design of the Company’s remuneration policies. 

To address the risk of fraud through management bias and override of controls, we: 
 
performed analytical procedures to identify any unusual or unexpected relationships; 
tested journal entries to identify unusual transactions; 
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and 
investigated the rationale behind significant or unusual transactions. 

 
Page 5

 
J8 CAPITAL MANAGEMENT LLP
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF J8 CAPITAL MANAGEMENT LLP (CONTINUED)

Auditors' responsibilities for the audit of the financial statements (continued)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 
 
agreeing financial statement disclosures to underlying supporting documentation; 
reading the minutes of meetings of those charged with governance; 
enquiring of management as to actual and potential litigation and claims; and 
reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


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 Auditors' Report.


Use of our report
 

This report is made solely to the LLP'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 LLP's member those matters we are required to state to them in an Auditors' 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 LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Martyn Atkinson FCA (Senior Statutory Auditor)
  
for and on behalf of
Sopher + Co LLP
 
Chartered Accountants
Statutory Auditors
  
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD

19 June 2025
Page 6

 
J8 CAPITAL MANAGEMENT LLP
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Turnover
 4 
176,726
238,893

Cost of sales
  
(44,698)
(71,392)

Gross profit
  
 
132,028
 
167,501

Administrative expenses
  
(127,772)
(175,161)

Operating profit/(loss)
 5 
 
4,256
 
(7,660)

Profit for the year before members' remuneration and profit shares
  
 
4,256
 
(7,660)

Profit/(loss) for the year before members' remuneration and profit shares
  
4,256
(7,660)

(Profit)/loss shared among members
  
(4,256)
7,660

Profit for the financial year available for discretionary division among members
  
 
-
 
-

There was no other comprehensive income for 2025(2024:£NIL).

The notes on pages 11 to 16 form part of these financial statements.

Page 7

 
J8 CAPITAL MANAGEMENT LLP
REGISTERED NUMBER:OC371396

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible fixed assets
  
2,660
1,386

Current assets
  

Debtors: amounts falling due within one year
 10 
426,799
452,862

Cash at bank and in hand
  
70,529
58,447

  
497,328
511,309

Current liabilities
  

Creditors: amounts falling due within one year
 11 
(22,961)
(35,668)

Net current assets
  
 
 
474,367
 
 
475,641

  

Net assets
  
477,027
477,027


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
477,027
477,027

  
477,027
477,027


Total members' interests
  

Amounts due from members (included in debtors)
 10 
(391,891)
(398,758)

Total
  
477,027
477,027

  
85,136
78,269


The financial statements were approved and authorised for issue by the members and were signed on their behalf on 19 June 2025.




T A Sachs
Designated member

The notes on pages 11 to 16 form part of these financial statements.

Page 8

 
J8 CAPITAL MANAGEMENT LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025




EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other amounts
Total

£
£
£

Amounts due from members 

(400,623)


Balance at 1 April 2023 
477,027
(400,623)
76,404

Members' interests after profit for the year
477,027
(400,623)
76,404

Other division of losses
-
(7,660)
(7,660)

Amounts introduced by members
-
13,171
13,171

Drawings
-
(3,646)
(3,646)

Amounts due from members
 

(398,758)


Balance at 31 March 2024
477,027
(398,758)
78,269

Members' interests after profit for the year
477,027
(398,758)
78,269

Other division of profits
-
4,256
4,256

Amounts introduced by members
-
2,806
2,806

Drawings
-
(195)
(195)

Amounts due from members
 

(391,891)


Balance at 31 March 2025 
477,027
(391,891)
85,136

The notes on pages 11 to 16 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests, except FCA requirements.

Page 9

 
J8 CAPITAL MANAGEMENT LLP
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£


Profit for the financial year
-
-

Adjustments for:

Members' remuneration charged as an expense
4,256
(7,660)

Depreciation of tangible assets
1,593
1,964

Decrease/(increase) in debtors
19,196
(17,027)

(Decrease)/increase in creditors
(12,707)
376

Net cash generated from operating activities before transactions with members

12,338
(22,347)


Cash flows from investing activities

Purchase of tangible fixed assets
(2,867)
(1,313)

Net cash from investing activities

(2,867)
(1,313)

Cash flows from financing activities

Amounts introduced by members
2,806
13,171

Distribution paid to members
(195)
(3,646)

Net cash used in financing activities
2,611
9,525

Net increase/(decrease) in cash and cash equivalents
12,082
(14,135)

Cash and cash equivalents at beginning of year
58,447
72,582

Cash and cash equivalents at the end of year
70,529
58,447


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
70,529
58,447

70,529
58,447


The notes on pages 11 to 16 form part of these financial statements.

Page 10

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

J8 Capital Management LLP is a Limited Liability Partnership incorporated in the United Kingdom and registered in England and Wales.
The LLP's registered address is 118 Pall Mall, London, SW1Y 5EA. The principal place of business is  Leigh Street, Unit 85, Liverpool L1 1NT.
The principal activity of the business is offering investment management services. The LLP is regulated by the Financial Conduct Authority.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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 LLP's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

The LLP's functional and presentational currency is £ sterling.
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 the Statement of Comprehensive Income.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable.
Turnover comprises revenue recognised by the LLP in respect of management charges, management and advisory services supplied during the year and performance fees. Income from management charges in respect of recharged costs are recognised when the costs are incurred by the LLP. Income from management and advisory fees is recognised in the period the service is provided. Performance fee income is recognised at the date when performance of the managed fund is due to be evaluated, as stipulated in the underlying agreement.

Page 11

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Operating leases: the LLP as lessee

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

 
2.5

Taxation

No provision for taxation has been made in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP, which will be assessed on the individual members and not the LLP.

 
2.6

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Statement of Comprehensive Income.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

The LLP classifies distributions of profits as operating cash flows in the Statement of Cash Flows as the partners have an active role in the day-to-day operations of the business.

 
2.7

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.

At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 12

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:

Computer equipment
-
3 years straight line

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.
 

 
2.8

Basic financial instruments


Basic financial instruments include trade and other debtors, trade and other creditors, cash and bank balances and loans with members.
Trade debtors, other debtors and loans with members are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from members are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash is represented by cash in hand and deposits with financial institutions.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

There are no critical accounting estimates and judgments that materially affect the accounts.


4.


Turnover

The whole of the turnover is attributable to the LLPs principal activity which was carried out in the UK.


5.


Operating profit

The operating profit is stated after charging:

2025
2024
£
£

Exchange differences
470
615

Page 13

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Auditors' remuneration

2025
2024
£
£



Fees payable to the LLP's auditors for the audit of the LLP's financial statements
10,900
10,400

Non-audit services
1,175
1,175

12,075
11,575


7.


Employees




The LLP has no employees.


8.


Information in relation to members

2025
2024
Number
Number


The average number of members during the year was
2
2









Page 14

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 April 2024
12,895


Additions
2,867



At 31 March 2025

15,762



Depreciation


At 1 April 2024
11,509


Charge for the year on owned assets
1,593



At 31 March 2025

13,102



Net book value



At 31 March 2025
2,660



At 31 March 2024
1,386


10.


Debtors

2025
2024
£
£


Trade debtors
26,749
25,643

Other debtors
5,705
9,310

Prepayments and accrued income
2,454
19,151

Amounts due from members
391,891
398,758

426,799
452,862



11.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
7,450
20,489

Taxation and social security
2,771
399

Accruals and deferred income
12,740
14,780

22,961
35,668


Page 15

 
J8 CAPITAL MANAGEMENT LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

12.


Analysis of net debt




At 1 April 2024
Arising from cash flows
At 31 March 2025
£

£

£

Cash at bank and in hand

58,447

12,082

70,529

Net debt


58,447
12,082
70,529


13.


Commitments under operating leases

At 31 March 2025 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
9,600
9,600

Later than 1 year and not later than 5 years
24,000
33,600

33,600
43,200


14.


Related party transactions

During the year, the LLP advanced funds totalling £Nil (2024 - £5,426) to J8 Umbrella Funds SICAV Plc, which has common key management. At the reporting date £4,818 (2024 - £9,310) was owed to the LLP.
Key management personnel include all members who together have the authority and responsibility for planning, directing and controlling the activities of the LLP. Total compensation paid to key management personnel for services provided to the LLP was £Nil (2024 - £Nil).


15.


Controlling party

The ultimate controlling parties are the designated members T A Sachs and S C Chu. 

 
Page 16