Contents of the Financial Statements

for the Period Ended 30 June 2021

Directors' report period ended 30 June 2021

The directors present their report with the financial statements of the company for the period ended 30 June 2021

Directors

The director shown below has held office during the whole of the period from
1 July 2020 to 30 June 2021

The director shown below has held office during the period of
1 October 2020 to 30 June 2021

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
15 October 2021

And signed on behalf of the board by:
Name: Gavin Butcher
Status: Director

Profit And Loss Account

for the Period Ended 30 June 2021

Balance sheet

As at 30 June 2021

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 June 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 June 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents fees receivable for investment management services provided. Turnover includes management fees which are recognised on an accruals basis and performance fees which are based on discrete periods and are recognised when they crystallise and become due.Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised.Rendering of servicesTurnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied.The amount of turnover can be measured reliably,It is probable that the company will receive the consideration due under the contract,The stage of completion of the contract at the end of the reporting period can be measured reliably,andThe costs incurred and the costs to complete the contract can be measured reliably.

  Tangible fixed assets depreciation policy

  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.The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimateduseful lives.Depreciation is provided on the following basis:Computer equipment - over 3 yearsThe 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.

  Valuation information and policy

  The company enters into transactions that result in the recognition of basic financial instruments, like trade and other debtors and creditors, and other financial instruments, like investments.Debt instruments that are payable or receivable within one year, typically trade 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, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.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 profit or loss.Other financial instruments are recognised initially at fair value, which is normally the transaction price(including transaction costs, except in the initial measurement of financial assets and liabilities that are measured at fair value through profit or loss). At the end of each reporting period, these financialinstruments are remeasured to fair value. For financial assets and liabilities measured at fair value through profit or loss, changes in fair value are recognised in the profit or loss.Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.Functional and presentation currencyThe company's functional and presentational currency is GBP.Transactions and balancesForeign 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 wasdetermined.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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

  Other accounting policies

  DividendsEquity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.PensionsDefined contribution pension planThe company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in Creditors in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.Provisions for liabilitiesProvisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.When payments are eventually made, they are charged to the provision carried in the Statement of financial position.Current and deferred taxationTax is recognised in the Statement of income and retained earnings, 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 reporting date in the countries where the company operates and generates income.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date.

Notes to the Financial Statements

for the Period Ended 30 June 2021

• 2. Employees

  	2021	2020
  Average number of employees during the period	2	2