Highgate Capital Management (Services) L - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09415660 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

HIGHGATE CAPITAL MANAGEMENT (SERVICES)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Kruglykhin

P Moutchiev

REGISTERED OFFICE:

Aztec House 397-405, Archway Road

Highgate

London

N6 4ER

REGISTERED NUMBER:

09415660 (England and Wales)

FIXED ASSETS

Investments

3

630,818

571,782

CURRENT ASSETS

Cash at bank

399

5,364

NET CURRENT ASSETS

399

5,364

TOTAL ASSETS LESS CURRENT LIABILITIES

631,217

577,146

CREDITORS

Amounts falling due after more than one year

4

1,765,825

1,485,933

NET LIABILITIES

(1,134,608

)

(908,787

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(1,135,608

)

(909,787

)

SHAREHOLDERS' FUNDS

(1,134,608

)

(908,787

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 August 2018 and were signed on its behalf by:

P Moutchiev - Director

1.	STATUTORY INFORMATION

Highgate Capital Management (Services) Limited is a limited liability company registered in England. The

Registered Office is Aztec House, 397-405 Archway Road, London N6 4ER.

2.	ACCOUNTING POLICIES

Basis of measurement and preparation of accounts

These financial statements have been prepared in accordance with applicable United Kingdom accounting

standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Irelands

(FRS 102) and the Companies Act 2006.

The financial statements are presented in the functional currency, Sterling, on the basis that this represents the

currency of the primary economic environment in which it operates.

Accounting estimates, assumptions and judgements

The preparation of these financial statements necessitates the use of estimates, assumptions and judgements.

These estimates, assumptions and judgements affect the reported amounts of assets, liabilities, contingent

assets and contingent liabilities at the reporting date as well as the reported income and expenses for the

reporting periods. While estimates are based on management's best knowledge and judgement using

information and financial data available to them, the actual outcome may differ from these estimates.

There were no judgements or estimates having a significant effect on amounts recognised in the financial

statements for the year ended 31 December 2017.

Going concern

The directors have reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future and to continue to adopt the going concern basis of accounting in preparing

the financial statements

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling

on the date of the transaction. Exchange gains and losses are recognised in the income statement.

Fixed asset investments

Fixed asset investments are stated in the balance sheet at cost less any provision made for impairment in value.

Profit/(loss) allocation from subsidiary

This represents the accounting profit/(loss) that has been allocated to the company in its capacity as the

corporate member to Highgate Capital Management LLP ('HCM LLP'), as per the Partnership Accounts of HCM

LLP for the relevant period.

Cash and cash equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at banks and in hand, and short term deposits

with an original maturity date of less than one month.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

571,782

Additions

1,027,218

Share of profit/(loss)

(968,182

)

At 31 December 2017

630,818

NET BOOK VALUE

At 31 December 2017

630,818

At 31 December 2016

571,782

This investment represents capital contributions to Highgate Capital Management LLP throughout the period

ended 31 December 2017. Highgate Capital Management LLP is a Limited Liability Partnership incorporated in

England and Wales. During the period, Highgate Capital Management LLP allocated a loss of £144,964 (2016:

loss of £293,533) to the company.

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Deep Discount Notes Issued

1,765,825

1,485,933

The company issued 2 deep discount notes during the period (2016: 7 notes). Each note had an issuance price

of £100,000 and is redeemable after 5 years at a price of £127,630. The notes have been issued to an entity

which is owned by a family trust in which Andrey Kruglykhin, a director of the company, is a beneficiary.