Limited Liability Partnership registration number OC385589 (England and Wales)
ASHBY CAPITAL LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ASHBY CAPITAL LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 8
ASHBY CAPITAL LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
587,641
676,681
Current assets
Debtors
4
383,735
371,585
Cash at bank and in hand
829,152
948,216
1,212,887
1,319,801
Creditors: amounts falling due within one year
5
(612,395)
(819,581)
Net current assets
600,492
500,220
Total assets less current liabilities and net assets attributable to members
1,188,133
1,176,901
Represented by:
Loans and other debts due to members within one year
6
Other amounts
266,916
255,684
Members' other interests
Members' capital classified as equity
921,217
921,217
1,188,133
1,176,901

For the financial year ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 21 October 2025 and are signed on their behalf by:
21 October 2025
Mr P A Ferrari
Designated member
Limited Liability Partnership registration number OC385589 (England and Wales)
ASHBY CAPITAL LLP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
1,176,943
2,319,466
Members' drawings
(1,279,000)
(2,313,313)
Investing activities
Purchase of tangible fixed assets
(19,089)
(19,992)
Interest received
2,082
2,566
Net cash used in investing activities
(17,007)
(17,426)
Net decrease in cash and cash equivalents
(119,064)
(11,273)
Cash and cash equivalents at beginning of year
948,216
959,489
Cash and cash equivalents at end of year
829,152
948,216
ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Limited liability partnership information

Ashby Capital LLP is a limited liability partnership incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to limited liability partnerships subject to the small limited liability partnerships regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the period of lease
Fixtures, fittings & equipment
25% Reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.8
Equity

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue

costs.

ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.12

Comparative figures

The accounts relate to the year ended 31 March 2025. The comparative figures relate to the period from 1 January 2023 to 31 March 2024.

2
Employees

The average number of persons (excluding members) employed by the limited liability partnership during the year was:

2025
2024
Number
Number
Total
11
11
3
Tangible fixed assets
Leasehold improvement
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
756,450
277,530
1,033,980
Additions
14,562
4,527
19,089
At 31 March 2025
771,012
282,057
1,053,069
Depreciation and impairment
At 1 April 2024
204,016
153,283
357,299
Depreciation charged in the year
76,980
31,149
108,129
At 31 March 2025
280,996
184,432
465,428
Carrying amount
At 31 March 2025
490,016
97,625
587,641
At 31 March 2024
552,434
124,247
676,681
ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
44,983
8,902
Other debtors
164,411
165,664
Prepayments and accrued income
174,341
197,019
383,735
371,585
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
30,272
13,810
Other taxation and social security
161,289
295,550
Other creditors
190,146
190,268
Accruals
230,688
319,953
612,395
819,581
6
Loans and other debts due to members
2025
2024
£
£
Amounts due to members in respect of profits
266,916
255,684
Analysis of loans and other debts due to members
Amounts falling due within one year
266,916
255,684

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
7
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
250,230
250,230
Between two and five years
1,000,920
1,000,920
In over five years
250,230
500,460
1,501,380
1,751,610
ASHBY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
8
Related party transactions

During the year the following entities under common control, were charged by Ashby Capital LLP for investment advisory services.

Name of the entities | 20 25 | 20 2 4
Desert View Limited | £1,603,174 | £2,492,375
Paisley View Ltd | £244,184 | £316,862
Bedford Avenue Trustee Ltd | £283,920 | £387,060
Tower View Limited | £200,000 | £2 50,000
New Bartsview Limited | £581,480 | £763,889
Swansea View Limited | £250,000 | £312,500
New Brunelview Limited | £315,212 | £181,000
Guiseley View Limited | £200,000 | £250,000
Kensington View Limited Partnership | £366,668 | £425,000
Charterhouse View Ltd | £134,470 | £336,175
Arcade View Ltd | £100,852 | £124,360
Charterhouse Street Ltd | £134,470 | £Nil

As at 31 March 2025 Ashby Capital LLP was owed by the following entities.

Name of the entities | 20 25 | 20 2 4
Desert View Limited | £3 2,0 00 | £100,000
Arcade View Ltd | £30,256 | £Nil
Bedford Avenue Trustee Ltd | £3 | £Nil
Swansea View Limited | £Nil | £809
New Bartsview Limited | £43 | £264
New Brunelview Limited | £587 | £414
Tower View Limited | £55 | £42
Charterhouse View Ltd | £Nil | £17
Charterhouse Street Ltd | £265 | £Nil
Paisley View Ltd | £Nil | £1,5 40
Guiseley View Limited | £874 | £252
Kensington View Limited Partnership | £861 | £4,514
Judd Street View Limited | £38 | £625

As at 31 March 2025 Ashby Capital LLP owed to the following companies under common control.

Name of the entities | 20 25 | 202 4
New Mountain View Limited | £2 2,883 | £2 3,097
Desert View Limited | £167,159 | £167,159

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