ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

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Registered number: OC339098

MAVEN GLOBAL LLP

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

MAVEN GLOBAL LLP

INFORMATION

Designated Members	R A Dhamija
	P Kassimatis

LLP registered number

OC339098

Registered office

17 Grosvenor Street

London

W1K 4QG

Independent auditors

Adler Shine LLP

Chartered Accountants

Statutory Auditors

Aston House

Cornwall Avenue

London

N3 1LF

MAVEN GLOBAL LLP

CONTENTS

	Page
Members' report	1 - 2
Independent auditors' report	3 - 6
Statement of comprehensive income	7
Statement of financial position	8 - 9
Reconciliation of members' interests	10
Statement of cash flows	11
Notes to the financial statements	12 - 20

MAVEN GLOBAL LLP

MEMBERS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The members present their annual report together with the audited financial statements of Maven Global LLP (the "LLP") for the year ended 31 August 2021.

Principal activities

The principal activity of the LLP during the period continued to be that of regulated investment advisory services and transactional services. The LLP is authorised and regulated by the Financial Conduct Authority (FCA).

Designated Members

R A Dhamija and P Kassimatis were designated members of the LLP throughout the period.

Members' capital and interests

Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

Details of changes in members' capital in the year ended 31 August 2021 are set out in the reconciliation of members' interests.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

Members' responsibilities statement

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.

In preparing these financial statements, the members are required to:

∙select suitable accounting policies 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 LLP will continue in business.

Page 1

MAVEN GLOBAL LLP

MEMBERS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are members at the time when this members' report is approved has confirmed that:

∙so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and

∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

This report was approved by the members and signed on their behalf by:

P Kassimatis

Designated member

Date: 13 December 2021

Page 2

MAVEN GLOBAL LLP

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAVEN GLOBAL LLP

Opinion

We have audited the financial statements of Maven Global LLP (the 'LLP') for the year ended 31 August 2021, which comprise the statement of comprehensive income, the statement of financial position, the statement of cash flows, the reconciliation of members' interests and the related notes, including a summary of significant 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).

In our opinion the financial statements:

∙give a true and fair view of the state of the LLP's affairs as at 31 August 2021 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Basis for opinion

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Page 3

MAVEN GLOBAL LLP

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAVEN GLOBAL LLP (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, as applied to limited liability partnerships, requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of members

As explained more fully in the members' responsibilities statement set out on page 1, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Page 4

MAVEN GLOBAL LLP

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAVEN GLOBAL LLP (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

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 auditors' 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements.

∙We obtained an understanding in this regard through discussions with management and the application of our cumulative audit knowledge and experience of this sector. The key laws and regulations we considered in this context included the Companies Act 2006, Statement of Recommended Practice "Accounting by Limited Liability Partnerships", and applicable tax legislation.

∙We considered the nature of the industry and sector, control environment and business performance.

∙We discussed mattered amongst the audit team regarding how and where fraud might occur in the financial statements and the potential indicators of fraud.

∙We address the risk of fraud arising from management override of journals by performing audit procedures which included, but were not limited to, the test of journals, enquiries of management, reviewing accounting estimates for evidence of bias, and evaluation the business rationale of any significant transactions which appeared unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 auditors' report.

Page 5

MAVEN GLOBAL LLP

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAVEN GLOBAL LLP (CONTINUED)

Use of our report

This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an auditors' 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 LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Taylor (senior statutory auditor)

for and on behalf of

Adler Shine LLP

Chartered Accountants

Statutory Auditors

Aston House

Cornwall Avenue

London

N3 1LF

15 December 2021

Page 6

MAVEN GLOBAL LLP

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 AUGUST 2021

	2021	2020
Note	£	£


Turnover	4	989,759	727,861
Cost of sales		(16,200)	(21,248)
Gross profit		973,559	706,613
Administrative expenses		(265,259)	(355,315)
Other operating income	5	-	16,808
Operating profit	6	708,300	368,106
Interest receivable and similar income	10	209	2,035
Profit before tax		708,509	370,141
Profit for the year before members' remuneration and profit shares available for discretionary division among members		708,509	370,141

There was no other comprehensive income for 2021(2020:£NIL).

The notes on pages 12 to 20 form part of these financial statements.

Page 7

MAVEN GLOBAL LLP

REGISTERED NUMBER: OC339098

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	11		3,042		2,198
Current assets
Debtors: amounts falling due within one year	12	724,217		398,472
Cash at bank and in hand	13	1,276,994		984,485
		2,001,211		1,382,957
Creditors: amounts falling due within one year	14	(1,142,879)		(900,014)
Net current assets			858,332		482,943
Total assets less current liabilities			861,374		485,141

Net assets			861,374		485,141

Represented by:
Loans and other debts due to members within one year
Other amounts	15		37,865		-
Members' other interests
Members' capital classified as equity		115,000		115,000
Other reserves classified as equity		708,509		370,141
			823,509		485,141
			861,374		485,141

Total members' interests
Amounts due from members (included in debtors)	12	(610,330)	(312,026)
Loans and other debts due to members	15	37,865	-
Members' other interests		823,509	485,141
		251,044	173,115

Page 8

MAVEN GLOBAL LLP

REGISTERED NUMBER: OC339098

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2021

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

P Kassimatis

Designated member

Date: 13 December 2021

The notes on pages 12 to 20 form part of these financial statements.

Maven Global LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 9

MAVEN GLOBAL LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 AUGUST 2021


	Equity			Debt	Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Loans and debts due to members less any amounts due to members in debtors	Total
	£	£	£	£	£
Amounts due from members				(309,913)
Balance at 1 September 2019	160,000	301,868	461,868	(309,913)	151,955
Profit for the year available for discretionary division among members	-	370,141	370,141	-	370,141
Members' interests after profit for the year	160,000	672,009	832,009	(309,913)	522,096
Other division of profits	-	(301,868)	(301,868)	301,868	-
Amounts introduced by members	35,000	-	35,000	(35,000)	-
Repayment of capital	(80,000)	-	(80,000)	-	(80,000)
Drawings	-	-	-	(268,981)	(268,981)
Tax payments	-	-	-	-	-
Amounts due from members				(312,026)
Balance at 31 August 2020	115,000	370,141	485,141	(312,026)	173,115
Profit for the year available for discretionary division among members	-	708,509	708,509	-	708,509
Members' interests after profit for the year	115,000	1,078,650	1,193,650	(312,026)	881,624
Other division of profits	-	(370,141)	(370,141)	370,141	-
Drawings	-	-	-	(630,580)	(630,580)
Amounts due to members				37,865
Amounts due from members				(610,330)
Balance at 31 August 2021	115,000	708,509	823,509	(572,465)	251,044

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 10

MAVEN GLOBAL LLP

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2021

			2021	2020
			£	£

Cash flows from operating activities
Profit for the financial year	708,509	370,141
Adjustments for:
Depreciation of tangible assets	1,014	3,401
Interest received	(209)	(2,035)
(Increase)/decrease in debtors	(27,441)	89,920
Increase/(decrease) in creditors	242,865	(194,645)
Net cash generated from operating activities before transactions with members	924,738	266,782

Cash flows from investing activities
Purchase of tangible fixed assets	(1,858)	-
Interest received	209	2,035
Net cash from investing activities	(1,649)	2,035
Cash flows from financing activities
Members' capital contributed	-	35,000
Members' capital repaid	-	(80,000)
Amounts introduced by members	-	(35,000)
Distribution paid to members	(630,580)	(268,981)
Net cash used in financing activities	(630,580)	(348,981)
Net increase/(decrease) in cash and cash equivalents	292,509	(80,164)
Cash and cash equivalents at beginning of year	984,485	1,064,649
Cash and cash equivalents at the end of year	1,276,994	984,485

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,276,994	984,485

The notes on pages 12 to 20 form part of these financial statements.

Page 11

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1.	General information

Maven Global LLP is a limited liability partnership registered in England and Wales. Its registered office address and principal place of business is 17 Grosvenor Street, London, W1K 4QG.
The principal activity of the LLP during the period continued to be that of regulated investment advisory services and transactional services. The LLP is authorised and regulated by the Financial Conduct Authority (FCA).
The financial statements are presented in Sterling (£), rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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 LLP's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the designated members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign 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 was determined.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 12

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP 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:

Rendering of services

Revenue 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 revenue can be measured reliably;

∙it is probable that the LLP 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; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

2.8

Tangible fixed assets

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.

Page 13

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

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:

Fixtures and fittings

25%

reducing balance

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.

2.9

Debtors

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.

2.10

Cash and cash equivalents

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.

In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the LLP's cash management.

2.11

Creditors

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.

2.12

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, 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 in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt

Page 14

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.12

Financial instruments (continued)

instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported amount of revenue and expenses during the reporting period. Al though these estimates are based on managements best knowledge of the amounts, events or actions, actual results ultimately may differ from these estimates.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
No significant estimates or judgments were applied in the preparation of the financial statements.

Advisory fees	863,967	485,000
Transactional revenue	96,350	211,957
Spot FX revenue	29,442	30,904
	989,759	727,861

Analysis of turnover by country of destination:

					2021	2020
					£	£

United Kingdom	337,269	402,696
Rest of Europe	254,823	126,127
Rest of the world	397,667	199,038
	989,759	727,861

Page 15

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

5.	Other operating income
		2021	2020
		£	£

	Net rents receivable	-	16,808

	Exchange differences	89,475	13,184
	Other operating lease rentals	23,211	76,879

7.	Auditors' remuneration
		2021	2020
		£	£

Fees payable to the LLP's auditor and its associates for the audit of the LLP's annual financial statements

7,500

7,000

	Fees payable to the LLP's auditor and its associates in respect of:
	Taxation compliance services	500	475

Page 16

MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Wages and salaries	27,083	39,151
Social security costs	-	2,343
Cost of defined contribution scheme	657	912
	27,740	42,406

The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:

	2021	2020
	No.	No.

Employees	1	4

9.	Information in relation to members
		2021	2020
		Number	Number


The average number of members during the year was	2	2

					2021	2020
					£	£

	The amount of profit attributable to the member with the largest entitlement was	296,113	237,191

10.	Interest receivable
		2021	2020
		£	£

Other interest receivable

209

2,035

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MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

11.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 September 2020	4,574	6,947	11,521
Additions	-	1,858	1,858
Disposals	(4,574)	-	(4,574)
At 31 August 2021	-	8,805	8,805
Depreciation
At 1 September 2020	4,574	4,749	9,323
Charge for the year on owned assets	-	1,014	1,014
Disposals	(4,574)	-	(4,574)
At 31 August 2021	-	5,763	5,763
Net book value
At 31 August 2021	-	3,042	3,042
At 31 August 2020	-	2,198	2,198

12.

Debtors

					2021	2020
					£	£


Trade debtors	101,000	76,000
Prepayments and accrued income	12,887	10,446
Amounts due from members	610,330	312,026
	724,217	398,472

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MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

13.	Cash and cash equivalents
		2021	2020
		£	£

	Cash at bank and in hand	1,276,994	984,485

14.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	1,366	101,932
Other taxation and social security	5,402	9,199
Other creditors	1,095,611	730,675
Accruals and deferred income	40,500	58,208
	1,142,879	900,014


	Other amounts due to members	(37,865)	-

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

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MAVEN GLOBAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

16.	Analysis of net debt

		At 1 September 2020	Arising from cash flows	Other non-cash changes	At 31 August 2021
		£	£	£	£

Cash at bank and in hand	984,485	347,421	-	1,331,906
Net debt (before members' debt)	984,485	347,421	-	1,331,906
Loans and other debts due to members
Other amounts due to members	-	-	(37,865)	(37,865)
	984,485	347,421	(37,865)	1,294,041

17.	Pension commitments

The entity contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £657 (2020 - £912). Contributions totalling £Nil (2020 - £153) were payable to the fund at the balance sheet date and are included in creditors.

18.	Related party transactions
	During the year the LLP allocated profits totalling £370,141 (2020 - £301,868) to its members who made drawings totalling £530,580 (2020 - £268,981). As at the balance sheet date the members owed the LLP £472,465 (2020 - £312,026).

19.	Post balance sheet events

Following the year end, on 9 September 2021, Maven Synthesis Limited was incorporated as a 95% subsidiary.

20.	Controlling party

The ultimate controlling party is P Kassimatis, by virtue of his majority equity share.

Page 20