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Registered number: 06974140
AMERSHAM INVESTMENT MANAGEMENT LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MARCH 2026
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AMERSHAM INVESTMENT MANAGEMENT LTD
REGISTERED NUMBER: 06974140
BALANCE SHEET
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital redemption reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 August 2026.
The notes on pages 2 to 12 form part of these financial statements.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
Amersham Investment Management LTD is a private company incorporated in England and Wales with a registration number 06974140. The address of the registered office is 128 City Road, London, England, EC1V 2NX. The nature of the company’s operations and principal activity is investment fund management.
2.Accounting policies
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Basis of preparation of financial statements
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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 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 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 Company's accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
Change in accounting reference date
During the period, the Company changed its accounting reference date from 31 October to 31 March. As a result, the current financial statements cover a period of 17 months ended 31 March 2026, whereas the comparative figures cover the 12 month period ended 31 October 2024. Accordingly, the comparative amounts presented in these financial statements are not directly comparable with those of the current period.
The following principal accounting policies have been applied:
The directors believe new opportunities arising will increase revenue and profitability for the Company in future periods. Accordingly, they have reasonable expectation that the company has adequate resources to maintain operational existence in the foreseeable future.
As a result, the directors continue to prepare the financial statements on a going concern basis.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Establishment fees
Establishment fees are recognised at the point at which the establishment of the investment structure has been completed and the related service has been delivered.
Investment management fees
Investment management fees are earned for the ongoing management of client investments and are recognised over the period in which the services are provided.
Due diligence fees
Due diligence fee income is recognised when the agreed due diligence services have been completed and the related report or findings have been delivered to the client. Where services are provided over a period of time and the outcome can be measured reliably, revenue is recognised by reference to the stage of completion at the reporting date.
Advisory and consultancy fees
Advisory and consultancy fees are recognised as revenue over the period in which the services are provided. Where services are provided under a specific engagement, revenue is recognised when the relevant performance obligations have been satisfied and the client has obtained the benefit of the services performed.
Interest income is recognised in profit or loss using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Tangible fixed 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, on a reducing balance basis.
Depreciation is provided on the following basis:
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 profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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.
Impairment of financial assets
Basic 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.
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.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
2.Accounting policies (continued)
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Financial instruments (continued)
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Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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The average monthly number of employees, including directors, during the period was 1 (2024 - 1).
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
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Charge for the period on owned assets
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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45,000 (2024 - 45,000) Ordinary shares of £1.00 each
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
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Related party transactions
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During the year key management personnel were remunerated £Nil (2024: £4,600). The company also incurred purchases of £Nil (2024: £9,245) in respect of key management personnel services.
During the year the company made sales of £59,355 (2024: £41,076) to entities in which key management personnel has significant influence.
At the year end the following amounts were due to/(from) the related parties:
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Entities in which key management personnel has significant influence
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The ultimate parent company is New Amersham Holdings Ltd.
The ultimate controlling party is J Forsyth by virtue of his majority shareholding.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
Amersham Investment Management Limited (“the Firm”) is authorised and regulated by the Financial Conduct Authority and is categorised as a BIPRU €50,000 Limited Licence Firm for regulatory purposes. The firm is not part of a group or subject to consolidated reporting. This statement has been prepared by the firm in accordance with BIPRU 11 and summarises the material disclosures the firm is required to make under Pillar 3 of the Capital Requirements Directive.
Frequency
Pillar 3 disclosures will be issued on an annual basis after the firm’s audited accounts have been prepared. The disclosures are made at the firm’s accounting reference date which is 31st March 2026.
Materiality
The firm regards the information in these disclosures as material if its omission or misstatement could change or influence the assessment or decision of a user relying on this information to make an economic decision. If the firm deems a certain disclosure to be immaterial, it may be omitted from this statement.
Risk Management
The firm is formally governed by Mr John Forsyth. The director, apart from being the primary individual to consider and approve general business matters (such as strategy, finance, people and operational matters), oversees the stewardship of the firm’s reputation and stature with clients, counterparts and regulators. In order to discharge this responsibility, the director considers and approves, amongst other things: internal policies; compliance matters; financial results and budgets; capital adequacy; investment performance; terms of engagement with clients and investors.
Quarterly management accounts are used to monitor and project its capital resources and a compliance manual, a compliance monitoring programme and an ICAAP process have been adopted to facilitate risk management in the firm. Given the nature and activities of the firm, its risk appetite is low. It does not securitise assets or deal as principal and therefore it does not have a trading book.
The key risks are considered to be operational risks namely key person risk, reputational risk, client concentration risk, staff errors and IT security or system failures.
Remuneration disclosure
The Firm is authorised and regulated by the Financial Conduct Authority (“FCA”) as a Limited Licence Firm and so, it is subject to FCA Rules on remuneration. The FCA has sought to apply proportionality in the first instance by categorising firms into three levels. The Firm falls within the FCA's proportionality level three and as such this disclosure is made in line with the requirements for a Level three.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
Application of the requirements
We are required to disclose certain information on at least an annual basis regarding our Remuneration policy and practices for those staff whose professional activities have a material impact on the risk profile of the firm. Our disclosure is made in accordance with our size, internal organisation and the nature, scope and complexity of our activities.
1. Summary of information on the decision-making process used for determining the firm’s remuneration policy.
• The Firm’s policy has been agreed by the Board of Directors in line with the RemCode principles laid down by the FCA.
• Due to the size, nature and complexity of the Firm, we are not required to appoint an independent remuneration committee.
• The Firm’s policy will be reviewed as part of annual process and procedures, or following a significant change to the business requiring an update to its internal capital adequacy assessment.
• The Firm’s ability to pay bonuses is based on the overall performance of the Firm overall once its fund’s managed returns have been calculated by client appointed third party administrators and profits earned from its portfolio management activities determined.
2. Summary of how the firm links between pay and performance.
• Individuals are rewarded based on their contribution to the overall strategy of the business.
• Other factors such as performance, reliability, effectiveness of controls, business development and contribution to the business are taken into account when assessing the performance of the senior staff responsible for the infrastructure of the firm.
3. Aggregate quantitative information on remuneration, for staff whose actions have a material impact on the risk profile of the firm. The total amount of directors’ remuneration charged in the year ending 31st March 2026 was £Nil.
Capital Resources
As the firm is a BIPRU €50,000 Limited Licence Firm, it has calculated its capital resources in accordance with GENPRU 2.2. The firm’s capital resources are detailed in the below. As at 31st March 2026, the firm has £133,186 of Tier 1 resources and a capital requirement of the higher of the Base Capital Requirement (€50k); the sum of the Credit Risk Capital Requirement and the Market Risk Capital Requirement and the Fixed Overheads Requirement (3 months expenditure of the firm). In the opinion of the Directors the highest of these three is likely to be the Base Capital Requirement (€50k) while the firm’s current activity level is maintained.
Pillar 1 and Pillar 2
As at the date of this report the firm has a surplus of capital resources over its Pillar 1 capital resources requirement. Pillar 2 capital is additional capital against risks not adequately covered in Pillar 1. The firm has undertaken an Internal Capital Adequacy Assessment Process (ICAAP) to determine whether it needs any further regulatory capital due to the risks it faces as set out above. As a result of this review the firm has concluded that it does not need any further regulatory capital to meet its requirements under Pillar 2.
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AMERSHAM INVESTMENT MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
The auditors' report on the financial statements for the period ended 31 March 2026 was unqualified.
The audit report was signed on 3 August 2026 by Charalambos Patsalides ACA FCCA (Senior Statutory Auditor) on behalf of Haslers Assurance LLP.
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