TJM Europe LLP - LLP accounts 22.3

REGISTERED NUMBER: OC400522 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

TJM EUROPE LLP

Page

General Information

1

Report of the Members

2

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Reconciliation of Members' Interests

11

Cash Flow Statement

13

Notes to the Financial Statements

14

DESIGNATED MEMBERS:

A Hine

R Scalone

TJM International Limited

REGISTERED OFFICE:

125 Old Broad Street

London

EC2N 1AR

REGISTERED NUMBER:

OC400522 (England and Wales)

AUDITORS:

PJE Chartered Accountants & Statutory Auditors

2 Oakfield Road

Clifton

Bristol

BS8 2AL

The members present their report with the financial statements of the LLP for the year ended 31 December 2022.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of foreign exchange services in accordance with the regulations of The Financial Conduct Authority.

REVIEW OF BUSINESS

In 2022 turnover decreased by 37% from £755,058 in 2021 to £476,637. This has been as a result of lower volatility in the global currency markets. Savings in costs have been made where possible through tight monitoring and control of overheads and the members have plans in place to make further savings in 2023/2024. There are also plans to build out the sovereign bond and FX business in the near future.

The profit for the financial year before members' remuneration and profit shares available for discretionary division among members amounted to £30,509 compared to £579,862 in 2021.

PRINCIPAL RISKS AND UNCERTAINTIES

Customer transactions are introduced to and processed by the LLP's brokers on a fully disclosed basis. In conjunction with the brokers, the LLP seeks to control the risks associated with its customer activities by requiring customers to maintain collateral in compliance with various regulatory and internal guidelines and, pursuant to such guidelines, customers may be required to deposit additional collateral, or reduce positions, where necessary.

Execution fees, brokerage fees and commissions receivable represent a concentration of credit risk. The LLP does not anticipate non-performance by its customers or brokers. In addition, the LLP has a policy of reviewing, as considered necessary, the creditworthiness of the brokers with which it conducts business.

DESIGNATED MEMBERS

The designated members during the year under review were:

A Hine

R Scalone

TJM International Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £30,509 (2021 - £579,862 profit).

MEMBERS' INTERESTS

The three designated members' interests are governed by the limited liability partnership agreement, whilst the non-designated members' interests are governed by deeds of adherence.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships 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 legislation applicable to limited liability partnerships 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 judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

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 enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

ON BEHALF OF THE MEMBERS:

A Hine - Designated member

30 March 2023

Opinion

We have audited the financial statements of TJM Europe LLP (the 'LLP') for the year ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests, Cash Flow Statement and Notes to the Financial Statements, 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 December 2022 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 LLPs 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 UK, including the FRC'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.

Other information

The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 where the Companies Act 2006 as applied to LLPs 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 Statement of Members' Responsibilities set out on page three, 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 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.

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 a Report of the Auditors 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.

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102, the Companies Act 2006, the Financial Reporting Council (FRC) and the UK Corporate Governance Code) and the relevant tax compliance regulations in the UK. In addition, we concluded that there are certain significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements being the Bribery Act 2010, Occupational Health and Safety Regulations and the Data Protection Act.

- We understood how the company is complying with those frameworks by reading internal policies and codes of conduct and assessing the entity level control environment, including the level of oversight of those charged with governance. We corroborated our enquiries through review of correspondence with regulatory bodies. We designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraph above. As well as enquiry, our procedures involved a review of board meetings and other committee minutes to identify any non-compliance with laws and regulations. Our procedures also involved journal entry testing, with a focus on journals meeting our defined risk criteria based on our understanding of the business.

- We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by holding enquiries with management and those charged with governance. Through these procedures we considered the risk of management override with revenue recognition as the key area of focus in particular. We addressed this risk through testing the underlying revenue transactional data throughout the year and after the year end date. We also reviewed manual journal entries posted to revenue and inspected deal documentation. We have gained comfort over the brokers' bonuses by inspecting investment payout calculations and testing of expenses which drive the bonuses paid and resulting fee income recognised.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved:

o Enquiry of management and those charged with governance as to any fraud identified or suspected in the period, any actual or potential litigation or claims or breaches of significant laws or regulations applicable to the company;

o Auditing the risk of management override of controls, through testing of a sample of journal entries and other adjustments for appropriateness;

o Enquiry of management, coupled with testing of journal entries, in order to identify and understand any significant transactions outside of the normal course of business;

o Challenging the judgements made by management through corroborating the basis for those judgments and considering contradicting evidence; and

o Reading financial statement disclosures and testing to supporting documentation to assess 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 Report of the Auditors.

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 to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application 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 a Report of the Auditors 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.

Philip Evans BSc FCA (Senior Statutory Auditor)

for and on behalf of PJE Chartered Accountants & Statutory Auditors

2 Oakfield Road

Clifton

Bristol

BS8 2AL

30 March 2023

TURNOVER

3

476,637

755,058

Administrative expenses

446,128

175,196

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

30,509

579,862

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

30,509

579,862

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

30,509

579,862

FIXED ASSETS

Tangible assets

7

1,127

2,017

CURRENT ASSETS

Debtors

8

104,668

68,093

Cash at bank

136,318

101,703

240,986

169,796

CREDITORS

Amounts falling due within one year

9

67,820

26,984

NET CURRENT ASSETS

173,166

142,812

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

174,293

144,829

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

174,293

144,829

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

174,293

144,829

The financial statements were approved by the members of the LLP and authorised for issue on 30 March 2023 and were signed by:

A Hine - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Members'

capital

Other

(classified

Other

reserves

as debt)

amounts

Total

Total

£

£

£

£

£

Amount due to members

78,804

43,507

122,311

Amount due from members

-

-

-

Balance at 1 January 2022

-

78,804

43,507

122,311

122,311

Profit for the financial year available for discretionary division among members

30,509

-

-

-

30,509

Members' interests after profit for the year

30,509

78,804

43,507

122,311

152,820

Other divisions of profit

(30,509

)

-

30,509

30,509

-

Introduced by members

-

24,635

-

24,635

24,635

Drawings on account and distributions of profit

-

-

(3,162

)

(3,162

)

(3,162

)

Amount due to members

103,439

70,854

174,293

Amount due from members

-

-

-

Balance at 31 December 2022

-

103,439

70,854

174,293

174,293

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Members'

capital

Other

(classified

Other

reserves

as debt)

amounts

Total

Total

£

£

£

£

£

Amount due to members

60,543

74,918

135,461

Amount due from members

-

-

-

Balance at 1 January 2021

-

60,543

74,918

135,461

135,461

Profit for the financial year available for discretionary division among members

579,862

-

-

-

579,862

Members' interests after profit for the year

579,862

60,543

74,918

135,461

715,323

Other divisions of profit

(579,862

)

-

579,862

579,862

-

Introduced by members

-

18,261

-

18,261

18,261

Drawings on account and distributions of profit

-

-

(588,755

)

(588,755

)

(588,755

)

Amount due to members

78,804

66,025

144,829

Amount due from members

-

-

-

Balance at 31 December 2021

-

78,804

66,025

144,829

144,829

Cash flows from operating activities

Cash generated from operations

16

13,142

608,167

Net cash from operating activities

13,142

608,167

Cash flows from investing activities

Purchase of tangible fixed assets

-

(2,232

)

Net cash from investing activities

-

(2,232

)

Cash flows from financing activities

Transactions with members and

former members

Payments to members

(3,162

)

(588,755

)

Contributions by members

24,635

18,261

Net cash from financing activities

21,473

(570,494

)

Increase in cash and cash equivalents

34,615

35,441

Cash and cash equivalents at beginning of year

17

101,703

66,262

Cash and cash equivalents at end of year

17

136,318

101,703

1.	STATUTORY INFORMATION

TJM Europe LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration of introductory fees received or receivable. The LLP is not registered for VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Members

Allocation of profits

The allocation of profit is at the discretion of the management committee in accordance with the formal member remuneration procedures in place. Each member shares in profit based on the LLP partnership agreement and deed of adherence. The deed of adherence includes general and member-specific provisions that must be satisfied for any payout to be considered and satisfied.

Profits available for for discretionary allocation are classified as equity and included within members' other reserves.

No profit share shall be payable in the event of a loss but may be deductible from the member's current account.

Classification of share of profits in the cash flow statement

Any profit for the financial year before members' remuneration and profit shares available for discretionary division among members has been classified as operating cash flows.

Firstly, brokers' bonuses are deducted from the net profit and distributed in accordance with the deed of adherence entered into by each broker when they become a member of the LLP. These operating cash flows are paid for services rendered to the LLP as part of its revenue generating activities on any futures or options trade after all expenses related to the trade have been accounted for. The LLP may, at its absolute discretion, reduce the member's profit share to such sums it as it considers, appropriate, if subdued or negative financial performance of the LLP occurs and may, at its absolute discretion, determine that no profit share shall be payable in the event the LLP makes a loss.

Any remaining funds are then distributed on a discretionary basis between the designated members of the the LLP in accordance with the profit share agreement.

Designated member profit share split:

A. Hine - 7.5%

R. Scalone - 7.5%

TJM International Limited - 85%

All profit distributions are paid out of operating cash flows. The classification has been applied consistently from period to period.

Amounts due to/(from) members

Current amounts due to and from members are stated at their nominal value, as this approximates to the amortised cost.

The calculation and allocation of profit can only be made after all components of the entire trade package have been settled. Brokers then have the option to draw on their current account on a monthly basis.

Where a member's drawings exceed the actual profit allocation during the year, the net amount due from the member is included under current assets in amounts due from members. If the profit allocation exceeds the members' drawing, the net amount is included under current liabilities within loans and other debts due to members.

Cash flow statement

The cash flow statement has been prepared using the indirect method.

Financial instruments

In the ordinary course of business, the LLP enters into customer transactions held at a prime broker, where trades are matched with counterparties and processed. Such financial instruments are recorded in the financial statements. Under the terms of its prime broker agreement, the LLP is not subject to direct credit risk, as each of the parties to the transactions are obligated to the prime broker directly

These instruments are not thought to be off-balance sheet arrangements. The management committee periodically evaluates the credit risks inherent in these transactions and establishes loss allowances for such risks if and when these are deemed necessary.

3.

TURNOVER

The turnover and profit for the financial year before members' remuneration and profit shares are attributable to the one principal activity of the LLP.

An analysis of turnover by class of business is given below:

31.12.22

31.12.21

£

£

Services

476,637

755,058

476,637

755,058

4.	EMPLOYEE INFORMATION

There were no staff costs for the year ended 31 December 2022 nor for the year ended 31 December 2021.

The average number of employees during the year was NIL (2021 - NIL).

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.22

31.12.21

£

£

Other operating leases

40,736

84,003

Depreciation - owned assets

890

2,547

Auditors' remuneration

19,217

19,912

Foreign exchange differences

(7,637

)

(358

)

6.	INFORMATION IN RELATION TO MEMBERS

31.12.22

31.12.21

The amount of profit attributable to the member with the largest entitlement was:

£3,834

£566,268

31.12.22

31.12.21

The average number of members during the year was:

4

7

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

and 31 December 2022

2,361

43,350

45,711

DEPRECIATION

At 1 January 2022

2,208

41,486

43,694

Charge for year

153

737

890

At 31 December 2022

2,361

42,223

44,584

NET BOOK VALUE

At 31 December 2022

-

1,127

1,127

At 31 December 2021

153

1,864

2,017

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

90,551

54,133

Other debtors

11,811

11,553

Prepayments and accrued income

2,306

2,407

104,668

68,093

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

9,998

7,871

Accrued expenses

57,822

19,113

67,820

26,984

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.22

31.12.21

£

£

Within one year

32,400

32,400

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.12.22

31.12.21

£

£

Amounts owed to members in respect of profits

70,854

66,025

Capital account

103,439

78,804

174,293

144,829

Falling due within one year

174,293

144,829

Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event.

12.	ULTIMATE PARENT COMPANY

TJM Investments, LLC (incorporated in USA) is regarded by the directors as being the company's ultimate parent company. Copies of the financial statements can be found at TJM Investments, LLC, 318 West Adams, 9th Floor, Chicago, IL 60606.

13.	OFF-BALANCE SHEET ARRANGEMENTS

Customer transactions are introduced to and held at a prime broker, where trades are matched with counterparties and processed. Under the terms of its prime broker agreement, the LLP is not subject to direct credit risk, as each of the parties to the transactions are obligated to the prime broker directly. In conjunction with the prime broker, the LLP seeks to control the risks associated with its customer activities by requiring customers to maintain collateral in compliance with various regulatory and internal guidelines. Compliance with the various guidelines is monitored and credit lines are, from time to time, adjusted or eliminated by the prime broker where necessary.

The LLP does not anticipate non-performance by its customers or its prime broker. In addition, the LLP has a policy of reviewing, as deemed necessary from time to time, the performance of the prime broker with which it conducts business.

The LLP applies the same risk management policies for off-balance sheet risks as it does for its on balance sheet risks. In the case of commitments to hold funds with a prime broker, customers and counterparties will be subject to the same credit management policies as for loans and advances.

At the year end date, the members were not aware of any off-balance sheet arrangements associated with TJM Europe LLP.

14.	RELATED PARTY DISCLOSURES

During the year, TJM Europe LLP made gross sales to TJM Investments, LLC (incorporated in USA), the immediate parent of TJM International Limited of £430,461 (2021: £753,269). At the year end, a balance is owed from TJM Investments, LLC of £90,551 (2021: 54,123). This balance is included within trade debtors.

During the year, TJM Europe LLP made gross sales to TJM Institutional Services, LLC (incorporated in USA), a company under common control, of £15 (2021: £897). At the year end, a balance is owed to TJM Europe LLP of £0 (2021: £10). This balance is included within trade debtors.

At the year end date, TJM Europe LLP owed TJM Holdings, LLC (incorporated in USA), a company under common control, £0 (2021: £1,322). This balance is included within trade creditors.

All balances due to and from TJM Europe LLP are unsecured, have no fixed repayment date and carry no interest.

15.	ULTIMATE CONTROLLING PARTY

The controlling member of the LLP is TJM International Limited. There is no ultimate controlling party.

16.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS

31.12.22

31.12.21

£

£

Profit for the financial year before members' remuneration and profit shares available for discretionary division among members

30,509

579,862

Non-member accrued brokers bonuses

(22,518

)

-

Depreciation charges

890

2,547

8,881

582,409

(Increase)/decrease in trade and other debtors

(36,575

)

20,870

Increase in trade and other creditors

40,836

4,888

Cash generated from operations

13,142

608,167

17.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2022

31.12.22

1.1.22

£

£

Cash and cash equivalents

136,318

101,703

Year ended 31 December 2021

31.12.21

1.1.21

£

£

Cash and cash equivalents

101,703

66,262