Alltus Capital (UK) LLP - LLP accounts 23.2

REGISTERED NUMBER: OC384842 (England and Wales)

Report of the Members and

Financial Statements

for the Year Ended 31 May 2023

for

Alltus Capital (UK) LLP

Page

General Information

1

Report of the Members

2

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Reconciliation of Members' Interests

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

Designated members:

Alexander Griffin

Richard Whittall

Registered office:

Unit 24

8 Hornsey Street

London

N7 8EG

Registered number:

OC384842 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

The members present the report together with the audited financial statements of Alltus Capital (UK) LLP ("LLP") for the year ended 31 May 2023.

Principal activity

The principal activity of the LLP is the provision of investment management services. The LLP is regulated and authorised by the Financial Conduct Authority (the "FCA").

Review of business

The results for the year are shown on the Statement of Comprehensive Income on page 7. The LLP's balance sheet as detailed on page 8 shows a satisfactory position with total members' interests amounting to £96,520 (2022 - £83,019).

Designated members

The designated members during the year under review were:

Alexander Griffin

Richard Whittall

Results for the year and allocation to members

The profit for the year before members' remuneration and profit shares was £13,501 (2022 - £11,738 profit).

Members' interests

A members' capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at ''par'', so the retiring members are repaid their capital at ''par''.

Members' drawings and the subscription and repayment of members' capital

The policies of Alltus Capital (UK) LLP regarding the allocation of profits to members, interim drawings, on account distributions and the subscription and repayment of members' capital are disclosed in the accounting policies on page 12 are governed by the LLP Agreement dated 22 November 2012 (revised date - 2 May 2013).

Members' capital and drawings are determined by the regulatory requirements of the FCA and any trading needs of the LLP. Members' capital is not repayable except where allowed under FCA rules.

Members' profit shares

Any profits are shared amongst the members as decided by the Executive Committee and governed by the LLP Agreement dated 22 November 2012 (revised date - 2 May 2013).

Section 172(1) statement

The members of the LLP consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the LLP for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1)(a-f) of the Act) in the decisions taken during the year ended 31 May 2023. In particular, by performance of the following:

- Our business aims are designed to have a long-term beneficial impact on the LLP and to contribute to its success.

- Our business requires strong relationships with suppliers, customers and others and we continually strive to maintain and improve these relationships.

- The impact of the LLP's operations on the community and environment are considered by the members and reviewed regularly.

- As the members, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance.

- As the members, our intention is to behave responsibly toward our stakeholders and treat them fairly and equally, so they too may benefit from the success of our LLP.

Statement of members' responsibilities

The members are responsible for preparing the LLP's financial statements in accordance with applicable law and regulations and have elected to prepare a Members' report.

The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 require the Members to prepare LLP financial statements for each financial year. Under that law the members have elected to prepare the LLP's financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under Regulation 8 of 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 judgements and estimated 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; and

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

Under Regulation 6 of the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, 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 its financial statements comply with those regulations. They have general responsibility for taking such steps as are reasonable open to them to safeguard the assets of the LLP and to prevent and detect fraud and other irregularities.

In so far as the members are aware:

- there is no relevant audit information of which the LLP's auditor in unaware; and

- the members have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

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.

Auditors

The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the members:

Alexander Griffin - Designated member

29 August 2023

Opinion

We have audited the financial statements of Alltus Capital (UK) LLP (the 'LLP') for the year ended 31 May 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests, Cash Flow Statement and Notes to the Cash Flow Statement, 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 May 2023 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 pages two and 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.

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 gained an understanding of the legal and regulatory framework applicable to the LLP and the industry in which it operates, and considered the risk of acts by the LLP that were contrary to applicable laws and regulations, including fraud. We discussed with management the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and FCA capital requirements. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the members that represented a risk of material misstatement due to fraud.

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.

We reviewed the FCA register, and FCA capital requirement submissions for the reporting year for any disciplinary proceedings or instances of non-compliance with rules and regulations and none were identified.

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.

Chris Evans BSc FCA (Senior Statutory Auditor)

for and on behalf of Haines Watts

Chartered Accountants and Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

30 August 2023

Revenue

147,952

129,120

Administrative expenses

(134,451

)

(117,382

)

Operating profit and

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

13,501

11,738

Other comprehensive income

-

-

Total comprehensive income for the year

13,501

11,738

Fixed assets

Property, plant and equipment

5

7,040

1,560

Current assets

Debtors

6

16,820

36,945

Cash at bank

303,592

295,730

320,412

332,675

Creditors

Amounts falling due within one year

7

230,932

251,216

Net current assets

89,480

81,459

Total assets less current liabilities

and

Net assets attributable to members

96,520

83,019

Loans and other debts due to members

9

33,019

21,281

Members' other interests

Capital accounts

50,000

50,000

Other reserves

13,501

11,738

96,520

83,019

Total members' interests

Loans and other debts due to members

9

33,019

21,281

Members' other interests

63,501

61,738

96,520

83,019

The financial statements were approved by the members of the LLP and authorised for issue on 29 August 2023 and were signed by:

Alexander Griffin - Designated member

Members' capital (classified as equity

)

Other Reserves

Total members' other interests

£

£

£

Members' interests at 1 June 2021

50,000

13,151

63,151

Profit for the year available for discretionary division among members

-

11,738

11,738

Members' interests after profit for the year

50,000

24,889

74,889

Allocation of prior year profits

-

(13,151

)

(13,151

)

Other payments to members

-

-

-

50,000

11,738

61,738

Loans and other debts due from members

Total members' interests 2022

£

£

Members' interests at 1 June 2021

21,867

85,018

Profit for the year available for discretionary division among members

-

11,738

Members' interests after profit for the year

21,867

96,756

Allocation of prior year profits

13,151

-

Other payments to members

(13,737

)

(13,737

)

21,281

83,019

Members' capital (classified as equity

)

Other Reserves

Total members' other interests

£

£

£

Members' interests at 1 June 2022

50,000

11,738

61,738

Profit for the year available for discretionary division among members

-

13,501

13,501

Members' interests after profit for the year

50,000

25,239

75,239

Allocation of prior year profits

-

(11,738

)

(11,738

)

50,000

13,501

63,501

Loans and other debts due from members

Total members' interests 2022

£

£

Members' interests at 1 June 2022

21,281

83,019

Profit for the year available for discretionary division among members

-

13,501

Members' interests after profit for the year

21,281

96,520

Allocation of prior year profits

11,738

-

Other payments to members

-

-

33,019

96,520

Cash flows from operating activities

Cash generated from operations

2

15,157

73,158

Net cash from operating activities

15,157

73,158

Cash flows from investing activities

Purchase of tangible fixed assets

(7,295

)

(1,057

)

Net cash from investing activities

(7,295

)

(1,057

)

Cash flows from financing activities

Transactions with members and former

members

Payments to members

-

(13,737

)

Net cash from financing activities

-

(13,737

)

Increase in cash and cash equivalents

7,862

58,364

Cash and cash equivalents at beginning of year

3

295,730

237,366

Cash and cash equivalents at end of year

3

303,592

295,730

1.	Classification of share of profits in the cash flow statement

Share of profit is designated in line with the LLP agreement.

2.	Reconciliation of profit for the financial year before members' remuneration and profit shares available for discretionary division among members to cash generated from operations

2023

2022

£

£

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

13,501

11,738

Depreciation charges

1,815

1,361

15,316

13,099

Decrease/(increase) in trade and other debtors

20,125

(30,481

)

(Decrease)/increase in trade and other creditors

(20,284

)

90,540

Cash generated from operations

15,157

73,158

3.	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 May 2023

31/5/23

1/6/22

£

£

Cash and cash equivalents

303,592

295,730

Year ended 31 May 2022

31/5/22

1/6/21

£

£

Cash and cash equivalents

295,730

237,366

4.	Analysis of changes in net funds

At 1/6/22

Cash flow

At 31/5/23

£

£

£

Net cash

Cash at bank

295,730

7,862

303,592

295,730

7,862

303,592

Net funds (before members' debt)

295,730

7,862

303,592

Loans and other debts

due to members

Other amounts due to members

(21,281

)

(11,738

)

(33,019

)

Net funds

274,449

(3,876

)

270,573

1.	Statutory information

Alltus Capital (UK) 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 were prepared in accordance with applicable United Kingdom accounting standards including the Statement of Recommended Practice, 'Accounting for Limited Liability Partnerships', and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102").

The presentation currency of these financial statements is Pound Sterling (£).

All amounts in the financial statements have been rounded to the nearest £1.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

Turnover

Turnover, which is stated net of value added tax, is attributable to the supply of investment advisory and management services provided during the year to a range of globally based clients, and arising from continuing activities in the UK. Fees are recognised once receivable, on the accruals basis.

Taxation

As an LLP, Alltus Capital (UK) LLP has made no provision for taxation in the accounts. Each partner is exclusively liable for any tax liabilities arising out of their interest in the Partnership, which will be assessed on the individual partners and not on the Partnership.

Foreign currencies

Transactions in foreign currencies are translated to the LLP's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement.

Operating lease

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

Payments (excluding costs for services and insurance) made under operating leases are recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expense.

Members' remuneration and interest

Members' rights to participate in the profits or losses, or assets of an LLP are analysed between those that give rise to, from the LLP's perspective, either a financial liability or equity in accordance with Section 11 of FRS 102. Members' different participation rights are analysed separately into liability and equity elements.

Non-discretionary amounts becoming due to members in respect of equity participation rights in the profits of the LLP for an accounting period that give rise to liabilities are presented as an expense within the income statement (within the heading 'Members' remuneration charged as an expense').

Amounts becoming due to members in respect of equity participation rights, following a discretionary division of profits, are debited directly to equity in the accounting period in which the division occurs. Such amounts are not presented as an expense within the income statement. A discretionary division of profits that takes place after the balance sheet date is a non-adjusting event under FRS 102 Section 32, 'Events after the balance sheet date'.

In the event of a winding up, members' other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests.

Basic financial instruments

Financial assets and liabilities are recognised when the LLP becomes party to the contractual provisions of the financial instrument. The LLP holds basic financial instruments which comprise cash at bank, trade and other receivables, and trade and other payables. The LLP has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the LLP's cash management are included as a component of cash and cash equivalents for the purpose only of the cashflow statement.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

The partnership assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation is charged to the profit and loss account on a straight-line basis over the estimated useful lives of each part of an item of tangible fixed assets. The estimated useful lives are as follows:

Computer equipment

-

over 3 years on a straight line basis

Fixtures, fittings and equipment

-

over 3 years on a straight line basis

Short leasehold

-

on a 33% reducing balance basis

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the LLP expects to consume an asset's future economic benefits.

Impairment

Financial assets (including trade and other debtors)

Financial assets not carried at fair value through profit or loss are assessed at each reporting date to determine whether there is objective evidence that they are impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. For financial instruments measured at cost less impairment an impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the Partnership would receive for the asset if it were to be sold at the reporting date. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in profit or loss. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the members have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the members consider that the LLP maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the LLP's assets are assessed for recoverability on a regular basis, and the members consider that the LLP is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. The revenue generated by the LLP is on a cost plus mark up basis and therefore the members consider that there is not a threat to the going concern status of the entity.

The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the LLP's ability to continue as a going concern. Thus the members have continued to adopt the going concern basis of accounting in preparing these financial statements.

3.	Operating profit

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

2023

2022

£

£

Other operating leases

3,525

-

Depreciation - owned assets

1,815

1,361

Foreign exchange differences

(1,448

)

(19,030

)

4.	Information in relation to members

2023

2022

The average number of members during the year was

2

3

The profit for the year ended 31 May 2023 has yet to be allocated to the members.

5.	Property, plant and equipment

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

Cost

At 1 June 2022

-

1,595

7,148

8,743

Additions

7,295

-

-

7,295

Disposals

-

-

(2,601

)

(2,601

)

At 31 May 2023

7,295

1,595

4,547

13,437

Depreciation

At 1 June 2022

-

1,595

5,588

7,183

Charge for year

608

-

1,207

1,815

Eliminated on disposal

-

-

(2,601

)

(2,601

)

At 31 May 2023

608

1,595

4,194

6,397

Net book value

At 31 May 2023

6,687

-

353

7,040

At 31 May 2022

-

-

1,560

1,560

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

925

20,543

Other debtors

4,430

-

VAT

6,048

10,429

Prepayments and accrued income

5,417

5,973

16,820

36,945

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

-

6,480

Other creditors

219,331

231,955

Accruals and deferred income

11,601

12,781

230,932

251,216

8.	Financial instruments

2023

2022

£

£

Financial assets:

Assets measured at amortised cost

308,947

316,273

Financial liabilities:

Financial liabilities measured at amortised cost

263,951

244,738

Financial assets measured at amortised cost comprise of cash, trade debtors and other debtors.

Financial liabilities measured at amortised cost comprise of other creditors, accrued expenses and amounts owed to members.

9.

Loans and other debts due to members

2023

2022

£

£

Loans from members

19,518

9,543

Amounts owed to members in respect of profits

13,501

11,738

33,019

21,281

10.	Related party disclosures

During the year, the LLP received income of £147,952 (2022: £129,120) from Alltus Asset Limited, a company incorporated in the Cayman Islands and controlled equally by Alexander Griffin and Richard Whittall. At the year end, the LLP was owed £925 (2022: £20,543).

During the year the LLP paid for research on behalf of Alltus Global Japan Fund. At the year end, the LLP owed £219,331 (2022: £231,955).

11.	Ultimate controlling party

The controlling party is Alexander Griffin.