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Registration number: OC437835

Creandum Advisor LLP

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Creandum Advisor LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 9

Balance Sheet

2

Statement of Changes in Members’ Interests

4

Notes to the Financial Statements

5

 

Creandum Advisor LLP

Limited liability partnership information

Designated members

Creandum Advisor UK Limited

Mr Peter Thomas Charters Stilwell

Mr Peter Christoph Patrick Specht
 

Registered office

36 Carnaby Street
London
W1F 7DS

Accountants

Bourner Bullock
Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Creandum Advisor LLP

(Registration number: OC437835)
Balance Sheet as at 31 December 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

4

410,402

438,118

Current assets

 

Debtors

5

281,838

180,997

Cash and short-term deposits

 

159,783

246,025

 

441,621

427,022

Creditors: Amounts falling due within one year

6

(689,047)

(706,130)

Net current liabilities

 

(247,426)

(279,108)

Net assets attributable to members

 

162,976

159,010

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

100

100

Other amounts

162,876

158,910

 

162,976

159,010

Total members' interests

 

Amounts due from members

 

(98)

(98)

Loans and other debts due to members

 

162,976

159,010

   

162,878

158,912

 

Creandum Advisor LLP

(Registration number: OC437835)
Balance Sheet as at 31 December 2024

For the year ending 31 December 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements of Creandum Advisor LLP (registered number OC437835) were approved by the Board and authorised for issue on 7 July 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Mr Peter Thomas Charters Stilwell
Designated member

 

Creandum Advisor LLP

Statement of Changes in Members’ Interests
At 31 December 2024

 

Loans and other debts due to/(from) members

 

Members' capital classified as a liability
£

Members' other amounts
£

Total
2024
 £

Members' interest at 1 January 2024

100

158,910

159,010

Members' remuneration charged as an expense

-

795,360

795,360

Profit for the financial year available for discretionary division among members

-

5,000

5,000

Members' interests after total comprehensive income

100

959,270

959,370

Members’ capital introduced

1

-

1

Drawings (including tax payments)

-

(796,394)

(796,394)

Transfer of capital to former members’ balances

(1)

-

(1)

At 31 December 2024

100

162,876

162,976

 

Loans and other debts due to/(from) members

 

Members' capital classified as a liability
£

Members' other amounts
£

Total
2023
 £

Members' interest at 1 January 2023

100

185,865

185,965

Members' remuneration charged as an expense

-

336,300

336,300

Members' interests after total comprehensive income

100

522,165

522,265

Drawings (including tax payments)

-

(363,255)

(363,255)

At 31 December 2023

100

158,910

159,010

 

Creandum Advisor LLP

Notes to the Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Creandum Advisor LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

Members' remuneration and the division of profits is determined in accordance with the LLP agreement.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Creandum Advisor LLP

Notes to the Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Computer Equipment

2 year straight line

Plant and machinery

4 year straight line

Financial instruments

The limited liability partnership only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like amounts due from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

 

Creandum Advisor LLP

Notes to the Financial Statements for the Year Ended 31 December 2024

2

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Members's opinion there are no significant judgements or key sources of estimation uncertainty.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 8 (2023 - 8).

 

Creandum Advisor LLP

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible fixed assets

Short leasehold land and buildings
£

Plant and machinery
 £

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 January 2024

344,336

15,033

106,759

16,118

482,246

Additions

28,244

6,971

-

8,989

44,204

At 31 December 2024

372,580

22,004

106,759

25,107

526,450

Depreciation

At 1 January 2024

19,982

6,541

11,373

6,232

44,128

Charge for the year

36,255

4,678

21,352

9,635

71,920

At 31 December 2024

56,237

11,219

32,725

15,867

116,048

Net book value

At 31 December 2024

316,343

10,785

74,034

9,240

410,402

At 31 December 2023

324,354

8,492

95,386

9,886

438,118

 

Creandum Advisor LLP

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Debtors

2024
 £

2023
 £

Other debtors

205,211

174,779

Prepayments and accrued income

76,529

6,120

Amounts due from members

98

98

281,838

180,997

6

Creditors: Amounts falling due within one year

2024
 £

2023
 £

Trade creditors

48,157

7,928

Amounts owed to group undertakings

588,587

665,441

Other creditors

2,448

2,304

Accruals and deferred income

5,319

5,842

Taxation and social security

44,536

24,615

689,047

706,130

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £856,947 (2023 - £336,154). Rent commitments one - five years