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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
COMPANY INFORMATION
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
CONTENTS
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their Strategic report, together with the Directors' report, the financial statements and auditor's report, for The Entrepreneur's Investment Office for the year ended 31 December 2024.
The Entrepreneur’s Investment Office Limited (hereinafter, the “Firm”) is a UK private limited company based in London and regulated by the Financial Conduct Authority, UK (the “FCA”), FRN 763760.
The Firm is a company established on 31st August 2016 and authorised by the FCA on 30th December 2016. The Firm is permitted to carry on the following regulated activities: - Advising on investments (except on Pension transfers and Pension opt outs); - Arranging (bringing about) deals in investments; - Making arrangements with a view to transactions in investments; and - Agreeing to carry out a regulated activity. The Firm is a MIFIDPRU Investment Firm categorized as a Small and Non-Interconnected firm (“SNI Firm”). The Firm neither controls nor holds client money or assets.
The Firm’s principal function is to provide investment advisory and deal arranging services to Professional Clients and Market Counterparties, with a specific focus on family offices, corporates, funds, financial institutions and ultra-high net worth individuals based in the UK, Europe and North America.
The statement of comprehensive income is set out on page 8. Income from other companies under common control amounted to £301,260. The profit for the financial year after tax amounted to £121,577 (2023: £36,436 loss) The Company's net assets at the end of the year were £267,696 (2023: £254,109) Principal risks and uncertainties
The Company's income is reliant on the successful trading of it's related companies and therefore their risks should be considered. These include fluctuations in markets which affect the fellow group companies income. Related companies had a succesful trading year.
Credit risk exposures are the Company's bank deposits, loans and investments. The banks the company use have good quality credit ratings, these are monitored and it is considered acceptable for the Company to rely on the credit ratings. The Company also considers other sources of information that would flag up any potential concerns for institutional exposures. Agreements have been reached with long term loan holders converted to equity. Exposure risk remains in relation to balances due from overseas companies as this will depend upon their continued successful trading and fruition of projects.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company relies on its staff and its internal systems and controls. If an operational risk event were to occur, this could have an impact on profitability. The Company continues to engage in long term investment projects that require considerable pre-revenue investment in money, time and other resources. The company has been able to finance, in the interim, the cash shortfalls from shareholder reserves and management commitments.
The main KPI used for the business is income generated by companies under common control and it's share of revenue pool
The Directors have and continue to act in good faith to ensure that the business' success for the benefit of a wide range of shareholders.
This report was approved by the board and signed on its behalf.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £121,577 (2023 - loss £36,436).
The directors who served during the year were:
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors have decided to de-regulate the company and to eventually close it down. The main reason being that the revenues generated by the company are not substantial enough to warrant the continuance.
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
We have audited the financial statements of The Entrepreneur's Investment Office Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and the related notes, including material accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.2 to the financial statements that the directors have decided to de-regulate the company and to eventually close it down. This is mainly due to that the revenues generated by the company are not substantial enough to warrant continuance. The directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 2.2. Our opinion is not modified in respect of this matter.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures which are capable for detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; - Performing audit work over the risk of management override of controls, including testing of journal entrires and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accoutning estimates for bias; - Reviewing minutes of meetings of those charged with governance; - Reviewing financial statement disclosures and testing to support documentation to access compliance with applicable laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
United Kingdom
EC2Y 5AU
MHA is the trading name of MHA Audit Services LLP, a Limited Liability Partnership in England and Wales (registered number OC455542).
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
REGISTERED NUMBER: 10351774
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 24 form part of these financial statements.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Entrepreneur's Investment Office Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address can be found on the Company Information page. The financial statements cover a period of tweleve months ending 31 December 2024.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Directors have decided to de-regulate the company and to eventually close it down. The main reason being that the revenues generated by the company are not substantial enough to warrant the continuance. Investments have been reclassified from fixed assets to current assets, no other material adjustments have been made to the accounts. For this reason and in accordance with UK accounting standards, the directors have prepared the financial statements on the basis that the Company is no longer a going concern.
Functional and presentation currency
Transactions and balances
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Key sources of estimating uncertainty (a)The Directors are confident of the value of the current asset investment in its 20.15% associate company (The Entrepreneur's Investment Office - DIFC). The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. (a) Investment impairment Current asset investment in associate is stated at cost less revaluation and disposals. In categorising these as investments, the directors make a judgement as to whether the associate company values can be maintained.
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.Taxation (continued)
There were no factors that may affect future tax charges
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ENTERPRENEUR'S INVESTMENT OFFICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
Capital redemption reserve
Treasury shares
Profit and loss account
There is no ultimate controlling party.
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