REGISTERED NUMBER: 08179193 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Trefoil Capital Advisers Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Gates

A C Gates

D R Smith

J F Leyland

C C Keen

R Maraviglia

REGISTERED OFFICE:

15th floor 33 Cavendish Square

London

W1G 0PW

REGISTERED NUMBER:

08179193 (England and Wales)

AUDITOR:

St James's Associates Limited

Statutory Auditors

Orion House

5 Upper St Martin's Lane

London

WC2H 9EA

FIXED ASSETS

Tangible assets

4

47,813

86,734

Investments

5

698,361

412,596

746,174

499,330

CURRENT ASSETS

Debtors: amounts falling due within one year

6

553,466

630,206

Debtors: amounts falling due after more than one year

6

120,000

120,000

Cash at bank

782,098

736,352

1,455,564

1,486,558

CREDITORS

Amounts falling due within one year

7

463,626

373,375

NET CURRENT ASSETS

991,938

1,113,183

TOTAL ASSETS LESS CURRENT LIABILITIES

1,738,112

1,612,513

PROVISIONS FOR LIABILITIES

7,161

12,087

NET ASSETS

1,730,951

1,600,426

CAPITAL AND RESERVES

Called up share capital

1,001

1,001

Retained earnings

8

1,729,950

1,599,425

1,730,951

1,600,426

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

J Gates - Director

1.	STATUTORY INFORMATION

Trefoil Capital Advisers Ltd a private company, limited by shares, registered in England. The company's registered number and registered office address can be found on the Company Information page. The presentation currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest £.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprises the value of charges levied for investment advice provided to clients and is stated net of VAT. Turnover is calculated on an accruals basis, any income due to the Company and not invoiced as at the year end date will be accounted for as accrued income. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value.

Tangible fixed assets

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

Land and buildings - in accordance with the term of the licence for shared office

Plant and machinery etc - 33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Office renovation costs and rent and office costs

During the year the company entered into an licence agreement to share an office space and contribute to the rent and office costs including the initial renovation costs.

The renovation costs are being amortised over the period 24 December 2022 to 15 December 2025, being the earliest date the agreement can be terminated.

Rental and office running costs are charged to the profit and loss account on a straight line basis over the period of the licence agreement.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

49,600

79,656

129,256

Additions

-

3,688

3,688

At 31 December 2024

49,600

83,344

132,944

DEPRECIATION

At 1 January 2024

11,212

31,310

42,522

Charge for year

19,220

23,389

42,609

At 31 December 2024

30,432

54,699

85,131

NET BOOK VALUE

At 31 December 2024

19,168

28,645

47,813

At 31 December 2023

38,388

48,346

86,734

During the year the company entered into an licence agreement to share an office space and contribute to the rent and office costs including the initial renovation costs. The renovation costs are being amortised over the period 24 December 2022 to 15 December 2025, being the earliest date the agreement can be terminated.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

412,596

Additions

245,058

Revaluations

31,119

Exchange differences

9,588

At 31 December 2024

698,361

NET BOOK VALUE

At 31 December 2024

698,361

At 31 December 2023

412,596

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2023

17,904

Valuation in 2024

31,119

Cost

649,338

698,361

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

-

491,703

Other debtors

553,466

138,503

553,466

630,206

Amounts falling due after more than one year:

Other debtors

120,000

120,000

Aggregate amounts

673,466

750,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

40,203

33,466

Taxation and social security

77,827

263,755

Other creditors

345,596

76,154

463,626

373,375

8.

RESERVES

Retained

earnings

£

At 1 January 2024

1,599,425

Profit for the year

130,525

At 31 December 2024

1,729,950

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

The Report of the Auditor was unqualified.

Christopher Fossitt (Senior Statutory Auditor)

for and on behalf of St James's Associates Limited

10.	OTHER FINANCIAL COMMITMENTS

The company has entered into a licencing agreement to share office space. The licence is for the period 24 December 2022 to 30 June 2027, with an option for early termination on 15 December 2025. The share of the rental and office costs payable is based on the office area occupied by the company and the annual amount under the agreement is £135,766.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

R Maraviglia

Balance outstanding at start of year

120,000

-

Amounts advanced

-

120,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

120,000

120,000

During the year ended 31 December 2023 the company made a loan in the sum of £120,000 to R Maraviglia. The loan is interest free and repayable in full on 31 March 2027.

12.	RELATED PARTY DISCLOSURES

During the period, the company purchased services in the sum of £850,000 (2023 £1,029,987) from Trefoil Capital LLP which is an entity under common control of the directors. The balance owed to Trefoil Capital LLP at the period end was £25,000 (2023 £25,000).

Included in Fixed Asset Investments is an amount of £3,000 that the company paid during 2022 as a capital contribution to Trefoil Capital LLP. The company acts as a managing member of that entity.

13.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by the shareholders.