Caseware UK (AP4) 2024.0.164 2024.0.164 0 2024-01-01 false the provision of intellectual property services 0 false true false OC437347 2024-01-01 2024-12-31 OC437347 1 2024-01-01 2024-12-31 OC437347 2023-01-01 2023-12-31 OC437347 2024-12-31 OC437347 2023-12-31 OC437347 c:ComputerEquipment 2024-01-01 2024-12-31 OC437347 c:ComputerEquipment 2024-12-31 OC437347 c:ComputerEquipment 2023-12-31 OC437347 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 OC437347 c:CurrentFinancialInstruments 2024-12-31 OC437347 c:CurrentFinancialInstruments 2023-12-31 OC437347 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 OC437347 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC437347 d:FRS102 2024-01-01 2024-12-31 OC437347 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 OC437347 d:FullAccounts 2024-01-01 2024-12-31 OC437347 d:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC437347 2 2024-01-01 2024-12-31 OC437347 d:PartnerLLP1 2024-01-01 2024-12-31 OC437347 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-12-31 OC437347 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-12-31 OC437347 c:FurtherSpecificReserve2ComponentTotalEquity 2024-12-31 OC437347 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 OC437347 e:PoundSterling 2024-01-01 2024-12-31 OC437347 c:EntityControlledByKeyManagementPersonnel1 2024-01-01 2024-12-31 OC437347 c:EntityControlledByKeyManagementPersonnel1 2024-12-31 OC437347 c:EntityControlledByKeyManagementPersonnel1 2023-12-31 iso4217:GBP xbrli:pure

| Soros Capital Management UK LLP
| Unaudited financial statements
| for the year ended 31 December 2024
| Registered number: OC437347
Soros Capital Management UK LLP - Registered number: OC437347
Statement of financial position As at 31 December 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 5,378 |  | 542
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 988,716 |  | 547,278 |
Cash at bank and in hand | 7 | 10,725 |  | 13,674 |
|  | 999,441 |  | 560,952 |
Creditors: amounts falling due within one year | 8 | (166,997) |  | (410,104) |
Net current assets |  |  | 832,444 |  | 150,848
Net assets |  |  | 837,822 |  | 151,390
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts |  |  | 729,330 |  | 51,400
Members' other interests |  |  |  |  |
Members' capital classified as equity |  | 45,000 |  | 45,000 |
Other reserves classified as equity |  | 63,492 |  | 54,990 |
|  |  | 108,492 |  | 99,990
|  |  | 837,822 |  | 151,390
Total members' interests |  |  |  |  |
Loans and other debts due to members |  |  | 729,330 |  | 51,400
Members' other interests |  |  | 108,492 |  | 99,990
|  |  | 837,822 |  | 151,390
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Soros Capital Management UK LLP - Registered number: OC437347
Statement of financial position (continued) As at 31 December 2024 The members consider that the LLP is entitled to exemption from the requirement to have an audit under the provision of section 477 of the Companies Act 2006 ("the Act"), as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime and in accordance with the provisions of FRS102 Section 1A - small entites. 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:
G Workman on behalf of Soros Capital UK Holdco Ltd
Designated member
Date: 25 July 2025
The notes on pages 5 to 11 form part of these financial statements. Page 2
Soros Capital Management UK LLP
Reconciliation of members' interests For the year ended 31 December 2024
| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Other reserves | Total | Other amounts | Total | Total
| £ | £ | £ | £ | £ | £
Amounts due to members |  |  |  | 154,525 | 154,525 |
Amounts due from members |  |  |  | (26,651) | (26,651) |
Balance at 31 December 2022 | 45,000 | 49,959 | 94,959 | 127,874 | 127,874 | 222,833
Members' remuneration charged as an expense | - | - | - | 256,530 | 256,530 | 256,530
Profit for the period available for discretionary division among members | - | 54,990 | 54,990 | - | - | 54,990
Members' interests after profit for the period | 45,000 | 104,949 | 149,949 | 384,404 | 384,404 | 534,353
Other division of profits | - | (49,959) | (49,959) | 49,959 | 49,959 | -
Other movements | - | - | - | (18,016) | (18,016) | (18,016)
Drawings | - | - | - | (364,947) | (364,947) | (364,947)
Amounts due to members |  |  |  | 51,400 | 51,400 |
Balance at 31 December 2023 | 45,000 | 54,990 | 99,990 | 51,400 | 51,400 | 151,390
Members' remuneration charged as an expense | - | - | - | 1,057,759 | 1,057,759 | 1,057,759
Profit for the year available for discretionary division among members | - | 63,492 | 63,492 | - | - | 63,492
Members' interests after profit for the year | 45,000 | 118,482 | 163,482 | 1,109,159 | 1,109,159 | 1,272,641
Other division of profits | - | (54,990) | (54,990) | 54,990 | 54,990 | -
Other movements | - | - | - | (17,987) | (17,987) | (17,987)
Drawings | - | - | - | (416,832) | (416,832) | (416,832)
Amounts due to members |  |  |  | 729,330 | 729,330 |
Balance at 31 December 2024 | 45,000 | 63,492 | 108,492 | 729,330 | 729,330 | 837,822
The notes on pages 5 to 11 form part of these financial statements.
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Soros Capital Management UK LLP
Reconciliation of members' interests (continued) For the year ended 31 December 2024
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests. In the event of winding up loans and other debts due to members rank after unsecured creditors. There is no protection for unsecured creditors.
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Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024
1. | General information
Soros Capital Management UK LLP is a limited liability partnership incorporated in England and Wales on 11 May 2021. The address of the registered office and it's principal place of business is 5-10 Bolton Street, London, United Kingdom, W1J 8BA. 2.Significant accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships". The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies (see note 3). The financial statements are prepared in Pound Sterling (£) which is also the functional currency of the LLP. The following principal accounting policies have been applied consistently throughout the year:
| 2.2 | Going concern
After reviewing the forecasts and projections the members have reasonable expectations that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.
| 2.3 | Revenue
Revenue comprises of the fair value of the consideration received or receivable to the LLP from its principal activity of providing intellectual property services. All revenue arose from services performed within the United Kingdom. Revenue is recognised when it can be measured reliably and it is probable that the economic benefits associated with the transactions will flow into the LLP.
| 2.4 | Administrative expenses
Administrative expenses are accounted for on accrual basis.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 5
Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024 2.Significant accounting policies (continued)
| 2.6 | Tangible assets
Tangible 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:
|  |  |  | Computer equipment | - | 3 years 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.
| 2.7 | Taxation
The taxation payable on the LLP's profits is the personal liability of the members and consequently neither taxation nor related deferred taxation are accounted for in the financial statements. Amounts retained for tax are treated in the same way as other profits of the LLP and are included in 'Members' interests' or in 'Loans and other debts due to members' depending on whether or not division of profits has occurred.
| 2.8 | Debtors
Short term debtors are measured at transaction price, less any impairment for doubtful debts.
| 2.9 | Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand, demand deposits with financial institutions repayable without penalty on notice and other short term highly liquid investments with original maturity of 3 months or less and bank overdrafts. Page 6
Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024 2.Significant accounting policies (continued)
| 2.10 | Financial instruments
The LLP only enters into transactions that result in the recognition of basic financial instruments like trade debtors, creditors and loans to related parties. Debt instruments, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.11 | Operating leases
Leases are classified as finance leases whenever the terms of the lease transfers substantially all the risks and rewards of ownership of the leased asset to the LLP. All other leases are classified as operating leases. Rentals payable under operating leases are charged to the Statement of comprehensive income on a straightline basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.
| 2.12 | Creditors
Basic financial liabilities include trade and other payables. Creditors are measured at the transaction price. Other financial liabilities, including loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 7
Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024 2.Significant accounting policies (continued)
| 2.13 | Foreign currency translation
Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income except where deferred in other comprehensive income as qualifying cash flow hedges.
| 2.14 | Members capital (classified as equity)
Members capital represents the value of capital contributed by the members.
| 2.15 | Loans and debts due to members
The members of the LLP are remunerated based on the profit of the LLP in respect of each financial year. It is allocated amongst the members in accordance with the limited liability partnership agreement. Loans and debts due to members comprises of residual profit share and balances due in respect of expenses incurred and settled on behalf of the LLP. These balances are due for repayment within one year.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the LLP's accounting policies, which are described in note 2, the members are required to make judgments, estimates and assumptions which affect the amounts reported for assets and liabilities as at the year-end date and amounts reported for revenues and expenses during the year. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. However, the nature of estimation means that actual outcomes could differ from those estimates. There were no significant estimates or judgments made in the year.
4. | Employees
| The LLP had no employees as at the year ended 31 December 2024.
| The average monthly number of employees during the year was 0 (2023 - 0).
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Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024
5. | Tangible assets
|  | Computer equipment
|  | £
| Cost |
| At 1 January 2024 | 4,882
| Additions | 7,745
| At 31 December 2024 | 12,627
| Accumulated depreciation |
| At 1 January 2024 | 4,340
| Charge for the year | 2,909
| At 31 December 2024 | 7,249
| Net book value |
| At 31 December 2024 | 5,378
| At 31 December 2023 | 542
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 188,968 | 292,071
| Other debtors | 6,456 | 6,360
| Prepayments and accrued income | 793,292 | 248,847
|  | 988,716 | 547,278
| Included within other debtors is an amount of £6,456 (2023: £6,360) in respect of a rent deposit due in more than one year.
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Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 10,725 | 13,674
|  | 10,725 | 13,674
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 7,914 | 12,091
| Amounts owed to group undertakings | 104,241 | 379,800
| Other taxation and social security | 40,128 | 7,663
| Accruals and deferred income | 14,714 | 10,550
|  | 166,997 | 410,104
9. | Contingent liabilities
| Contingent liabilities regarding deferred compensation plans are disclosed below. The contingent liabilities could potentially increase or decrease based on factors including the benchmarked return linked to the compensation scheme. The compensation commitments have been made to certain key members based on a three year vesting schedule.
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Compensation commitments |  |
| 2024 | - | 25,141
| 2029 | 412,793 | -
|  | 412,793 | 25,141
| Other than the above, there were no contingent liabilities at 31 December 2024 and 31 December 2023.
10. | Related party transactions
| During the period, Soros Capital Management LLC settled various administrative expenditure on behalf of Soros Capital Management UK LLP totalling £104,212 (2023: £104,934) . As at 31 December 2024, £104,241 (2023: £379,800) remained outstanding and due to Soros Capital Management LLC from the LLP. Soros Capital Management LLC is considered to be a related party by virtue of common control.
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Soros Capital Management UK LLP
Notes to the financial statements For the year ended 31 December 2024
11. | Controlling party
The LLP is under the control of Soros Capital UK Holdco Ltd, the managing member of the LLP. The ultimate parent company is Soros Capital Management LLC, a limited liability company incorporated in the United States of America.
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