Registered number
SO300762
Euronova Asset Management UK LLP
Unaudited Filleted Accounts
31 March 2025
Euronova Asset Management UK LLP
Registered number: SO300762
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Current assets
Debtors 3 20,811 28,656
Cash at bank and in hand 90,476 97,255
111,287 125,911
Creditors: amounts falling due within one year 4 (12,383) (16,853)
Net current assets 98,904 109,058
Total assets less current liabilities 98,904 109,058
Net assets attributable to members 98,904 109,058
Represented by:
Loans and other debts due to members 5 98,904 109,058
98,904 109,058
Total members' interests
Loans and other debts due to members 5 98,904 109,058
98,904 109,058
For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 16 July 2025 and signed on their behalf by:
Amanda Swanson
Designated member
Euronova Asset Management UK LLP
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Management fees are calculated with reference to agreed contracts and are recognised on an accruals basis. Performance fees are also calculated on a contractual basis and are recognised upon receipt.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2025 2024
Number Number
Average number of persons employed by the LLP 0 0
3 Debtors 2025 2024
£ £
Trade debtors 20,811 27,656
Other debtors - 1,000
20,811 28,656
4 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 12,383 16,853
5 Loans and other debts due to members 2025 2024
£ £
Members capital classified as a liability 94,117 94,117
Amounts due to members in respect of profits 4,787 14,941
98,904 109,058
Amounts falling due within one year 98,904 109,058
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Related party transactions 2025 2024
£ £
The company has entered into transactions with related parties during the year as follows:
Euronova Smaller Companies Fund:
Management fees receivable 276,890 289,588
Research fees receivable 58,892 62,096
Euronova Asset Management Limited:
Investment advisory fees payable 173,500 168,000
The balances due from/(to) related parties at the year end were as follows:
Euronova Smaller Companies Fund 20,811 27,656
Euronova Asset Management Limited is a designated member of Euronova Asset Management UK LLP.
The Euronova Smaller Companies Fund is a fund administered by the LLP in accordance with the relevant investment management agreement.
Amanda Swanson, a designated member of the partnership is also a director of the Euronova Smaller Companies Fund.
7 Controlling party
The designated members of the limited liability partnership consider Euronova Asset Management Limited to be the immediate controlling party of the partnership. The directors of Euronova Asset Management Limited consider Henry Reid to be the ultimate controlling party of the company due to his shareholding in that entity.
8 Other information
Euronova Asset Management UK LLP is a limited liability partnership incorporated in Scotland. Its registered office is:
7-9 North St David Street
St Andrew Square
Edinburgh
EH2 1AW
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