REGISTERED NUMBER: OC446196 (England and Wales)

Report of the Members and

Financial Statements

for the Year Ended 31 December 2024

for

Pardinus Capital LLP

Page

General Information

1

Report of the Members

2

Balance Sheet

3

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P R Morales De Labra

Viride Investments Ltd

W R Haslam

J P Jimenez Caviedes

J M Saiz Nicolas

REGISTERED OFFICE:

40 Grosvenor Gardens

3rd Floor

London

SW1W 0EB

REGISTERED NUMBER:

OC446196 (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 year ended 31 December 2024.

DESIGNATED MEMBERS

The designated members during the year under review were:

P R Morales De Labra

Viride Investments Ltd

W R Haslam

J P Jimenez Caviedes

J M Saiz Nicolas

RESULTS FOR THE YEAR 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:

P R Morales De Labra - Designated member

23 April 2025

FIXED ASSETS

Tangible assets

4

4,706

1,162

CURRENT ASSETS

Debtors

5

700,715

129,695

Cash at bank

230,743

139,972

931,458

269,667

CREDITORS

Amounts falling due within one year

6

292,770

155,188

NET CURRENT ASSETS

638,688

114,479

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

643,394

115,641

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

643,394

115,641

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

643,394

115,641

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 23 April 2025 and were signed by:

P R Morales De Labra - Designated member

1.	STATUTORY INFORMATION

Pardinus Capital 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 LLP 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.

Turnover

Turnover represents net fees earned on managed funds. Credit is taken for fees in the period to which the fee relates.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

1,200

Additions

5,071

At 31 December 2024

6,271

DEPRECIATION

At 1 January 2024

38

Charge for year

1,527

At 31 December 2024

1,565

NET BOOK VALUE

At 31 December 2024

4,706

At 31 December 2023

1,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

63,351

Other debtors

37,950

38,592

VAT

32,234

13,858

Prepayments and accrued income

630,531

13,894

700,715

129,695

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

121

-

Trade creditors

36,631

21,525

Social security and other taxes

10,312

-

Other creditors

9,550

100,000

Accrued expenses

236,156

33,663

292,770

155,188

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2024

2023

£

£

Amounts owed to members in respect of profits

643,394

115,641

Falling due within one year

643,394

115,641

Loans and other debts due to members rank after all unsecured creditors in the event of a winding up.

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.	PENSION COMMITMENTS

The LLP operates a defined contribution pension scheme. Contributions are charged to the profit and loss as they fall due. The charge for the year was £5,280 (2023 - £Nil). There were pension contributions totalling £1,396 outstanding at the year end (2023 - £Nil).

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £392,150 (2023 - £Nil) relating to amounts payable under operating leases.