FASANARA CAPITAL LTD

Company Registration Number:
07561210 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

FASANARA CAPITAL LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FASANARA CAPITAL LTD

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Francesco Filia
Elisa Bianchi
Paul Bramley


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 April 2025

And signed on behalf of the board by:
Name: Francesco Filia
Status: Director

FASANARA CAPITAL LTD

Profit And Loss Account

for the Period Ended 31 December 2024

2024 9 months to 31 December 2023


£

£
Turnover: 49,832,590 28,170,239
Cost of sales: ( 4,842,138 ) ( 4,268,720 )
Gross profit(or loss): 44,990,452 23,901,519
Distribution costs: 0 0
Administrative expenses: ( 26,114,200 ) ( 15,560,744 )
Other operating income: 6,622,428 0
Operating profit(or loss): 25,498,680 8,340,775
Interest receivable and similar income: 260,318 23,622
Interest payable and similar charges: ( 113,126 ) ( 3,084 )
Profit(or loss) before tax: 25,645,872 8,361,313
Tax: ( 6,027,813 ) ( 2,362,436 )
Profit(or loss) for the financial year: 19,618,059 5,998,877

FASANARA CAPITAL LTD

Balance sheet

As at 31 December 2024

Notes 2024 9 months to 31 December 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 1,923 433
Tangible assets: 4 164,544 140,581
Investments: 5 39,288,954 12,744,016
Total fixed assets: 39,455,421 12,885,030
Current assets
Stocks:   0 0
Debtors: 6 18,100,863 14,761,558
Cash at bank and in hand: 3,267,171 7,357,176
Investments:   0 0
Total current assets: 21,368,034 22,118,734
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 15,851,113 ) ( 9,124,958 )
Net current assets (liabilities): 5,516,921 12,993,776
Total assets less current liabilities: 44,972,342 25,878,806
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 1,720,875 ) ( 735,398 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 43,251,467 25,143,408
Capital and reserves
Called up share capital: 1,000 541,249
Share premium account: 0 0
Other reserves: 1,319,081 778,832
Profit and loss account: 41,931,386 23,823,327
Total Shareholders' funds: 43,251,467 25,143,408

The notes form part of these financial statements

FASANARA CAPITAL LTD

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 25 April 2025
and signed on behalf of the board by:

Name: Francesco Filia
Status: Director

The notes form part of these financial statements

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide investment management services is recognised in the period in which the services are provided in accordance with the contract established between the Company and customer. The contract will specify the fee payable to the Company and the terms associated with its calculation, which differ on a contract-by-contract basis. Turnover is recognised when the amount of revenue can be measured reliably, and it is probable that the Company will receive the consideration due under the contract. Contracts may also include a performance fee payable to the Company, dependant on the underlying performance of the fund and other performance factors, such as high watermark and hurdle rates. Revenue in relation to performance fees is recognised in the period to which the performance fee relates, in accordance with the contract established between the Company and customer. The contract will specify the terms of the performance fee payable to the Company and the terms associated with its calculation, which differ on a contract-by-contract basis. Turnover is recognised when the amount of revenue can be measured reliably, and it is probable that the Company will receive the consideration due under the contract.

    Tangible fixed assets depreciation policy

    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. 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: Leasehold improvements - Lease term Fixtures and fittings - 10% Straight line Computer equipment - 20% 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 the Statement of Comprehensive Income.

    Intangible fixed assets amortisation policy

    Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Estimates of the useful economic life of other intangible assets are based on a variety of factors such as the expected use periods of asset. Amortisation is charged to administration expenses within the Statement of Comprehensive Income. The estimated useful lives range as follows: Trademarks - 10 years

    Valuation information and policy

    In the Company’s accounts, investments in subsidiaries and associates are measured at cost less accumulated impairment. Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid. Investments in unlisted company shares, which have been classified as fixed asset investments as the Company intends to hold them on a continuing basis, are initially recognised at cost and remeasured to fair value value at each Statement of Financial Position date. Fair value is calculated with reference to accepted valuation models and techniques in line with the International Private Equity and Venture Capital Valuation Guidelines. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the year.

    Other accounting policies

    The accounts include policies on going concern, foreign currency translation, operating leases, interest income, finance costs, pensions, taxation, intangible and tangible fixed assets, impairment, valuation of investments, associates, debtors, cash, creditors, financial instruments, and dividends.

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 9 months to 31 December 2023
    Average number of employees during the period 83 71

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2024 0 753 753
Additions 0 1,686 1,686
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 December 2024 0 2,439 2,439
Amortisation
At 1 January 2024 0 320 320
Charge for year 0 196 196
On disposals 0 0 0
Other adjustments 0 0 0
At 31 December 2024 0 516 516
Net book value
At 31 December 2024 0 1,923 1,923
At 31 December 2023 0 433 433

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 11,316 0 67,654 135,212 0 214,182
Additions 0 0 4,620 62,259 0 66,879
Disposals 0 0 0 ( 3,900 ) 0 ( 3,900 )
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 December 2024 11,316 0 72,274 193,571 0 277,161
Depreciation
At 1 January 2024 8,867 0 10,116 54,618 0 73,601
Charge for year 2,449 0 7,230 29,597 0 39,276
On disposals 0 0 0 ( 260 ) 0 ( 260 )
Other adjustments 0 0 0 0 0 0
At 31 December 2024 11,316 0 17,346 83,955 0 112,617
Net book value
At 31 December 2024 0 0 54,928 109,616 0 164,544
At 31 December 2023 2,449 0 57,538 80,594 0 140,581

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Fixed assets investments note

Fixed Asset Investments Note Cost or valuation At 1 January 2024: £12,744,016 Additions: £20,133,031 Disposals: (£210,521) Fair value movements: £6,622,428 At 31 December 2024: £39,288,954 Net book value At 31 December 2024: £39,288,954 At 31 December 2023: £12,744,016 Breakdown of closing balance (2024): Investments in subsidiary companies: £4,958,071 Investments in associates: £1,699,770 Unlisted investments: £32,631,113 Comparative (2023): Subsidiary companies: £4,445,265 Associates: £1,699,770 Unlisted investments: £6,598,981

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Debtors

2024 9 months to 31 December 2023
£ £
Trade debtors 2,244,483 670,020
Prepayments and accrued income 14,673,219 13,064,864
Other debtors 1,183,161 1,026,674
Total 18,100,863 14,761,558
Debtors due after more than one year: 0 0

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due within one year note

2024 9 months to 31 December 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 585,398 972,988
Taxation and social security 2,898,070 1,177,097
Accruals and deferred income 12,217,274 6,915,501
Other creditors 150,371 59,372
Total 15,851,113 9,124,958

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

8. Financial Commitments

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 522,679 360,684 Later than 1 year and not later than 5 years 1,789,070 1,936,896 Later than 5 years - 281,256 2,311,749 2,578,836

FASANARA CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

9. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
personal loan
£
Balance at 31 December 2023 497,410
Advances or credits made: 78,813
Advances or credits repaid:
Balance at 31 December 2024 576,223