EFTA01113672.pdf

MEMBERS REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2013 FOR ARGENTHAL INVESTMENT PARTNERS LLP Registration Number : OC364824 Al2 ui'A3NOU WO' 18/12/2014 COMPANIES HOUSE #180 EFTA01113672  ARGENTHAL INVESTMENT PARTNERS LLP CONTENTS OF THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2013 Page Partnership Information Report of the Members 2 Profit and Loss Account 3 Balance Sheet 4 Notes to the Financial Statements S EFTA01113673  ARGENTHAL INVESTMENT PARTNERS LLP PARTNERSHIP INFORMATION PERIOD ENDED 31 DECEMBER 2013 MEMBERS: L LECLERCQ ARGENTHAL PRIVATE CAPITAL LTD REGISTERED OFFICE: 67 GROSVENOR STREET MAYFAIR LONDON WIK 31N UNITED KINGDOM BUSINESS ADDRESS: 67 GROSVENOR STREET MAYFAIR LONDON WIK MN UNITED KINGDOM REGISTERED NUMBER: OC364824 Page I EFTA01113674  ARGENTHAL INVESTMENT PARTNERS LLP REPORT OF THE MEMBERS PERIOD ENDED 31 DECEMBER 2013 The members present their report with the financial statements of the partnership for the period aided 31 December 2013. The members view the performance of the partnership in the paled as satisfactory. PRINCIPAL ACTIVITY The principal activity of the partnership in period undo review was the provision of financial advisory and intermediary services to the private equity sector. DESIGNATED MEMBERS The designated members who saved during the year were as follows: L LECLERCQ MEMBERS' RESPONSIBILITIES The members acknowledge their responsibility for • keeping adequateaccounting records that disclose with reasonable accuracy at any time the financial position of the company and that enable them to ensure that the financial statements comply with the Companies Act. • safeguarding the assets of the company and take reasonable steps for the prevention and detection of fraud and other irregularities. SMALL PARTNERSHIP PROVISIONS This report has been prepared in accordance with the special provisions for small limited liability partnerships applicable under Parts 15 & 16 of the Companies Act 2006. ON BEHALF OF THE MEMBERS LERCQ DES NATED MEMBER Dated: Of /140)4 Page 2 EFTA01113675  ARGENTHAL INVESTMENT PARTNERS LLP PROFIT AND LOSS ACCOUNT PERIOD ENDED 31 DECEMBER 2013 2012 Notes TURNOVER 132,559 77,420 Cost of sales (5,580) (5,669) GROSS PROFIT 126,979 71,751 Administrative expenses 88,163 55,3% OPERATING PROFIT/(LOSS) 3 38,816 16,445 Interest receivable and similar income Bank Interest PROFIT FOR THE PERIOD AVAILABLE FOR DISCRETIONARY DIVISION AMONG THE MEMBERS ----38,816 16,445 STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES The partnership's turnover and expenses all relate to continuing activities. The partnership had no recognied gains or losses other than those shown for the above financial period. The notes form part of Mac financial statements Page 3 EFTA01113676  ARGENTHAL INVESTMENT PARTNERS LLP BALANCE SHEET PERIOD ENDED 31 DECEMBER 2013 2012 2012 Notes FIXED ASSETS Tangible assets 5 1,059 1,881 CURRENT ASSETS Debtors 6 68,217 1,487 Cash at Bank 4,042 69,724 72,259 71,211 CREDITORS Amounts falling due within one year 7 5 501 2,512 NET CURRENT UABIUTIES 66,758 68,698 TOTAL ASSETS LESS CURRENT LIABILITIES 67,816 70,580 LOANS AND OTHER DEBTS DUE TO MEMBERS MEMBERS' CAPITAL 67,816 70,580 MEMORANDUM OF MEMBERS TOTAL INTERESTS Loans and other debts due to Members 8 Members capital and other interests 8 67,816 . • 70,580 MEMBERS' TOTAL INTERESTS 67,816 70,580 For the period ending 31 December 2013 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied byIlse Limited Liability Partnerships (Account and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs. The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.' FOR AND ON BEH LF OF THE MEMBERS L ERCQ - DESIGNATED MEMBER Approved by the Members on et/ .i..LI 2014 The notes form pan of these financial statements Page 4 EFTA01113677  ARGENTHAL INVESTMENT PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2013 I. ACCOUNTING POLICIES 1.1 Accounting contention The financial statements have been prepared under the historicaleott contention and in accordance with applicable accounting standards following the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships" (SORP) issued in March 2006. 1.2 Taxation No provision has been made for taxation in the finacial statements. Each Member is exclusively liable for any tax liabilities arising out of their interest in the Pirtnership, which will be assessed on the individual partners and not on the Partnership. 1.3 Tangible Fixed Assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at .. following annual rates in order to write off each asset over its estimated useful life. . , Computer Equipment 25% on cost Furniture & Fittings 25% on cost 2. TURNOVER The turnover was derived from the Partnership's principal activity, which was carried out wholly within the UK. 3. MEMBERS' REMUNERATION 2012 The Members' remuneration receivable during the period was: Profit available for distribution among Members: . • 95,635. 56,81, - • 95,635 . • . 56819 • The avenge number of Members during the period was as follows: 3 3 4. OPERATING PROFIT The operating (lossYprofit is stated after charging: Depreciation of owned fixed assets . 822. 822 The notes form part of these financial statements Page 5 EFTA01113678  ARGENTHAL INVESTMENT PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2013 5. TANGIBLE FIXED ASSETS Office & Furniture & Computer Total Finings Equipment COST £ £ £ M at I January 2013 3,289 3,289 Additions At 31 December 2013 3,289 3)89 DEPRECIATION M at 1 January 2013 1,408 1,408 Charge for the year 822 . 822: At 31 December 2013 2,230 2,230 • NET BOOK VALUE At 31 December 2013 1,059 1,059 'At I January 2013 1,881 . 1,881 6. _ DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2012 £ Trade debtors 2,993 Other debtors Loan to associated entity APC 32,839 Loan to associated entity Fimeris 2,897 Loan to associated entity Annorica Invest 30,493 * . VAT 1,005 1,487 68)17 1,487 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2012 £ Trade Creditors VAT and other taxation and social security costs 2,487 Other creditors 3.014 2,512 5,501 2,512 Page 6 EFTA01113679  ARGENTHAL INVESTMENT PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2013 1: RECONCILIATION OF MOVEMENTS IN MEMBERS' INTERESTS Members' Other Loans etc Members' Capital reserves due to members total interests f At 1 JANUARY 2013 24,060 56,819 (10,299) 70,580 Capital additions/withdrawals • - ?oath for the period 38,816 38,816 Allocated profits Payments to Members / Drawings (41,581) (41,581) At 31 DECEMBER 2013 20,060 95.635 (51,880) 67,816 Page 7 EFTA01113680  ARGENTHAL INVESTMENT PARTNERS LIP TRADING AND PROFIT AND LOSS ACCOUNT PERIOD ENDED 31 DECEMBER 2013 2012 2012 Turnover 132,559 77,420 • Cost of sales Direct costs (5,580) (5,669) GROSS PROFIT 126,979 71,751 Other income Bank deposit interest • 126.979 71,751 ADMINISTRATIVE EXPENSES Personnel Costs Wages and salaries 35,733 12,332 Employees National Insurance contributions 4,052 1,357 39,785. . 13,68r, Establishment Expenses Rent, rates & water 21,687 8,920 General Expenses Travel costs 6,017 Tax and Motor expenses Parking charges Printing, stationery & postage 732 162 Accountancy and taxation 3.246 1,328 Computer expenses 2,119 Entertaining - COMM CC - traveVaccomrsundry etc 20,964 14,182 Sundry expenses 349 SUNDRY - E payments 1,796 Professional fees re the FSA 7,500 Office costs • rental, light heat and cleaning • (13,200) Legal fees 150 2,700 Commissions 1,010 Telephone intemet & fax 3,474 2,210 Accommodation, subsistence & sundry 240 4,243 Depreciation of furniture & fittings Depreciation; office & computer equipment 822 1,115 52,325 39,440 Financial Costs Bank Charges 300 144 Fora costs (4,247) 2,033 38,816 16,445 This page does not form part of the statutory financial statements Page 8 EFTA01113681