Adira Investment Management LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC445693 (England and Wales)

Report of the Members and

Financial Statements

for the Period

1 January 2024 to 31 March 2025

for

Adira Investment Management LLP

Page

General Information

1

Report of the Members

2

Balance Sheet

3

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R M Abrams

Adira Investment Services Limited

W G Allport

M E Gower

REGISTERED OFFICE:

128 Wigmore Street

London

W1U 3SA

REGISTERED NUMBER:

OC445693 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

The members present their report with the financial statements of the LLP for the period 1 January 2024 to 31 March 2025.

DESIGNATED MEMBERS

The designated members during the period under review were:

R M Abrams

Adira Investment Services Limited

W G Allport

M E Gower

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS

The results for the year and allocation to members are shown in the annexed financial statements.

MEMBERS' INTERESTS

Members' drawings are made out of amounts due to members after leaving sufficient funds to meet all reasonably foreseeable liabilities. Loans and other debts due to members are maintained to leave sufficient working capital for the business and ongoing trading requirements.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

ON BEHALF OF THE MEMBERS:

M E Gower - Designated member

5 August 2025

FIXED ASSETS

Tangible assets

4

3,937

6,005

CURRENT ASSETS

Debtors

5

2,064,410

889,030

Cash at bank

89,924

254,199

2,154,334

1,143,229

CREDITORS

Amounts falling due within one year

6

1,654,464

275,246

NET CURRENT ASSETS

499,870

867,983

TOTAL ASSETS LESS CURRENT
LIABILITIES

503,807

873,988

CREDITORS

Amounts falling due after more than one
year

7

1,650,000

950,000

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(1,146,193

)

(76,012

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

(1,146,193

)

(76,012

)

(1,146,193

)

(76,012

)

TOTAL MEMBERS' INTERESTS

Members' other interests

(1,146,193

)

(76,012

)

Amounts due from members

5

(443,035

)

(172,973

)

(1,589,228

)

(248,985

)

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 August 2025 and were signed by:

M E Gower - Designated member

1.	STATUTORY INFORMATION

Adira Investment Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. Given the known challenges faced by startup investment managers raising external assets leading towards a self-sustaining business, the partners have allocated sufficient resources to finance the LLP together with arrangements in place for additional working capital as required. Based on the assessment of the partners, there is reasonable expectation that the LLP has access to adequate financial resources to continue in operational existence for the foreseeable future.

The financial statements have been prepared for a 15 month period in order to align with other reporting periods. The comparative period was prepared for an 11 month period being its first accounting period and the comparatives are therefore not entirely comparable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable/ payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 March 2025

6,619

DEPRECIATION

At 1 January 2024

614

Charge for period

2,068

At 31 March 2025

2,682

NET BOOK VALUE

At 31 March 2025

3,937

At 31 December 2023

6,005

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade debtors

45,394

-

Amounts due from members

443,035

172,973

Other debtors

1,560,475

700,158

VAT

7,823

4,049

Prepayments

7,683

11,850

2,064,410

889,030

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade creditors

4,191

5,878

Accrued expenses

1,650,273

269,368

1,654,464

275,246

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

Other creditors

1,650,000

950,000

Included in other creditors are amounts raised from external parties in order to raise working capital for the LLP. Amounts are repayable over a period of 10 years linked to revenue earned by the LLP.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Shawcross FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

9.	RELATED PARTY DISCLOSURES

Included within accruals is an amount totalling £1,646,823 (2023 - £265,918) relating to amounts to be charged from a related party under common control to the LLP. The charge is to recover certain costs of the company with a mark-up to represent administrative costs incurred which will be invoiced once the financial statements have been finalised.

Included within other debtors is an amount totalling £1,560,475 (2023 - £700,158) owed from the same related party under common control relating to payments made on behalf of the company and working capital introduced in order for the company to meet its obligations. Amounts are interest free and recoverable on demand.