Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseNo description of principal activity1919falsetruefalse OC435237 2024-01-01 2024-12-31 OC435237 2023-01-01 2023-12-31 OC435237 2024-12-31 OC435237 2023-12-31 OC435237 c:Buildings c:LongLeaseholdAssets 2024-01-01 2024-12-31 OC435237 c:Buildings c:ShortLeaseholdAssets 2024-01-01 2024-12-31 OC435237 c:Buildings c:ShortLeaseholdAssets 2024-12-31 OC435237 c:Buildings c:ShortLeaseholdAssets 2023-12-31 OC435237 c:OfficeEquipment 2024-01-01 2024-12-31 OC435237 c:OfficeEquipment 2024-12-31 OC435237 c:OfficeEquipment 2023-12-31 OC435237 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 OC435237 c:ComputerEquipment 2024-01-01 2024-12-31 OC435237 c:ComputerEquipment 2024-12-31 OC435237 c:ComputerEquipment 2023-12-31 OC435237 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 OC435237 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 OC435237 c:CurrentFinancialInstruments 2024-12-31 OC435237 c:CurrentFinancialInstruments 2023-12-31 OC435237 c:Non-currentFinancialInstruments 2024-12-31 OC435237 c:Non-currentFinancialInstruments 2023-12-31 OC435237 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 OC435237 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC435237 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 OC435237 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 OC435237 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-12-31 OC435237 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 OC435237 d:FRS102 2024-01-01 2024-12-31 OC435237 d:Audited 2024-01-01 2024-12-31 OC435237 d:FullAccounts 2024-01-01 2024-12-31 OC435237 d:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC435237 c:WithinOneYear 2024-12-31 OC435237 c:WithinOneYear 2023-12-31 OC435237 c:BetweenOneFiveYears 2024-12-31 OC435237 c:BetweenOneFiveYears 2023-12-31 OC435237 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 OC435237 2 2024-01-01 2024-12-31 OC435237 6 2024-01-01 2024-12-31 OC435237 d:PartnerLLP1 2024-01-01 2024-12-31 OC435237 d:PartnerLLP2 2024-01-01 2024-12-31 OC435237 c:FurtherSpecificReserve3ComponentTotalEquity 2024-12-31 OC435237 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC435237 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: OC435237







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP






































img3b56.png                        

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 



INFORMATION





Designated Members

Steven Marshall
Benn Mikula


LLP registered number

OC435237

Registered office

63 St. James's Street
London
SW1A 1LY

Independent auditors

Menzies LLP
Chartered Accountants
Statutory Auditor
95 Gresham Street
London
EC2V 7AB


 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8


 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
REGISTERED NUMBER:OC435237



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
227,442
391,031

Investments
 5 
2,157,151
1,304,059

  
2,384,593
1,695,090

Current assets
  

Debtors: amounts falling due within one year
 6 
776,817
741,689

Bank and cash balances
  
2,024,762
2,096,695

  
2,801,579
2,838,384

Creditors: amounts falling due within one year
 7 
(2,082,793)
(2,322,352)

Net current assets
  
 
 
718,786
 
 
516,032

Total assets less current liabilities
  
3,103,379
2,211,122

Creditors: amounts falling due after more than one year
 8 
(71,130)
(152,398)

  
3,032,249
2,058,724

Provisions for liabilities
  

Other provisions
 9 
(110,000)
(110,000)

  
 
 
(110,000)
 
 
(110,000)

Net assets attributable to members
  
2,922,249
1,948,724


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
2,922,249
1,948,724

  
2,922,249
1,948,724

  

  
2,922,249
1,948,724


Total members' interests
  

Loans and other debts due to members
 10 
2,922,249
1,948,724

  
2,922,249
1,948,724


Page 1

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
REGISTERED NUMBER:OC435237


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 




Steven Marshall
Designated Member

Date: 27 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Cordiant Digital Infrastructure Management LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Cordiant Digital Infrastructure Management LLP is a Limited Liability Partnership incorporated in England and Wales. The address of the registered office is given on the information page. Its trading address is 63 St James's Street, London, SW1A 1LY. The principal activity of the LLP and the nature of its operations are set out in the members' report. 
The financial statements are prepared in GBP, which is the functional currency of the entity.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is attributable to management services provided by the LLP to the fund it is responsible for managing. The fees earned are principally contingent upon the value of the average market capitalisation of the fund on a monthly basis. 

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

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 3

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5
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:

Long-term leasehold property
-
5 years
Computer equipment
-
3 years

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.

 
2.6

Valuation of investments

The investment is in listed company shares which are revalued to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period. 

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.8

Foreign currency translation

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Page 4

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.9

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of Comprehensive Income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of Financial Position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of Comprehensive Income and are equity appropriations in the Statement of Financial Position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Statement of Comprehensive Income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

  
2.10

Taxation

In accordance with the requirements of the Statement of Recommended Practice ‘Accounting by Limited Liability Partnerships’ no taxation is required to be disclosed. Tax is borne by the individual members on their attributable profit shares and not the LLP.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).

Page 5

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Short-term leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
531,561
118,743
55,153
705,457


Additions
-
-
287
287



At 31 December 2024

531,561
118,743
55,440
705,744



Depreciation


At 1 January 2024
214,559
69,309
30,558
314,426


Charge for the year on owned assets
106,312
39,147
18,417
163,876



At 31 December 2024

320,871
108,456
48,975
478,302



Net book value



At 31 December 2024
210,690
10,287
6,465
227,442



At 31 December 2023
317,002
49,434
24,595
391,031


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2024
1,304,059


Additions
545,233


Revaluations
307,859



At 31 December 2024
2,157,151




Included within the additions above is £279,446 (2023: £328,899) in relation to amounts in which the LLP was obligated to invest at the year end but had not formally settled until after the year end.

Page 6

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
27,924
36,693

Prepayments and accrued income
748,893
704,996

776,817
741,689



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
12,145
175,184

Other taxation and social security
412,549
378,746

Other creditors
26,376
44,737

Accruals and deferred income
1,631,723
1,723,685

2,082,793
2,322,352



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
71,130
152,398

71,130
152,398



9.


Provisions





Dilapidation provision

£





At 1 January 2024
110,000



At 31 December 2024
110,000

Page 7

 


CORDIANT DIGITAL INFRASTRUCTURE MANAGEMENT LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
2,922,249
1,948,724

2,922,249
1,948,724

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
2,922,249
1,948,724

2,922,249
1,948,724

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


11.


Commitments under operating leases

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

2024
2023
£
£


Not later than 1 year
412,155
412,155

Later than 1 year and not later than 5 years
353,766
765,921

765,921
1,178,076


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 March 2025 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 8