Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Current assets | ||||
| Investments | 4 |
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| Cash at bank and in hand |
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| 10,584,631 | 9,797,642 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current assets | 4,975,710 | 4,437,652 | ||
| Total assets less current liabilities | 4,975,710 | 4,437,652 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Share premium account |
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| Profit and loss account | 10 |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Ladderstream Asset Management Limited (registered number:
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Dr J J Inglis-Jones
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ladderstream Asset Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Denham Lodge, Buckland Monachorum, Yelverton, PL20 7NR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Office equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Accumulated depreciation | |||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Net book value | |||
| At 31 March 2025 | 0 | 0 | |
| At 31 March 2024 | 0 | 0 |
| 2025 | 2024 | ||
| £ | £ | ||
| Listed investments – at fair value |
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| Other investments – at fair value |
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| 10,396,611 | 9,575,109 |
The listed investments held by the company were revalued to their fair value on 31 March 2025 using freely available market prices for each assets as on that date.
The other investments at fair value comprises physical gold and unlisted shares. They are held at fair value as their market value is quantifiable using readily available pricing data.
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to directors |
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| Accruals |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| Nil
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| 153,290 | 100 |
Later in the year, a further 1,290 Ordinary A shares and 50,000 Ordinary B shares were allotted and issued at par. The rights attached to each class of shares are as set out in the Articles of Association adopted 5 July 2024 and filed at Companies House.
Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Director | 5,347,692 | 5,327,366 |
A loan existed between a director and the company during the year. Interest has been accrued on this loan at 0.5% below the Bank of England base rate from 5 March 2024 and is repayable on demand.
| 2025 | 2024 | ||
| £ | £ | ||
| Balance brought forward | 9,575,109 | 8,665,646 | |
| Additions | 117,068 | 889,155 | |
| Disposals | 0 | (927,369) | |
| Fair value movement | 704,434 | 947,677 | |
| 10,396,611 | 9,575,109 |
The financial assets held by the company were revalued to fair value on 31 March 2025 using freely available market prices for each asset as on that date.
Included within the company's profit and loss account are non-distributable reserves which comprise of unrealised gains and losses on financial instruments held at fair value, together with any deferred tax provided on these unrealised amounts. At 31 March 2025, the total amount included in the profit and loss account which was non-distributable equalled £3,015,831 (2024: £2,364,329).