BENNBRIDGE SERVICES LLP

• ⚠

  Material uncertainty over going concern

  The Members believe that having considered the LLP's performance and position, as well as a review of the LLP's revenue, cashflow and expenditure projections, the LLP has adequate resources, an appropriate financial structure and suitable management arrangements in place to continue in operational existence until the LLP is closed on an orderly manner. Through the funding described above, the LLP will remain solvent. However, following the change in control, the LLP will cease trading and will no longer be serving the sole purpose of its establishment. There are no immediate plans for re-purposing the LLP and will be held dormant. For these reasons, the Members are preparing these financial statements on a basis other than the going concern basis. No adjustments other than redundancies were necessary to reflect the change in basis of preparation.

1. BENNBRIDGE SERVICES LLP 2016-11-25 → present
2. NEW 02 LLP 2016-11-11 → 2016-11-25

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Members believe that having considered the LLP's performance and position, as well as a review of the LLP's revenue, cashflow and expenditure projections, the LLP has adequate resources, an appropriate financial structure and suitable management arrangements in place to continue in operational existence until the LLP is closed on an orderly manner. Through the funding described above, the LLP will remain solvent. However, following the change in control, the LLP will cease trading and will no longer be serving the sole purpose of its establishment. There are no immediate plans for re-purposing the LLP and will be held dormant. For these reasons, the Members are preparing these financial statements on a basis other than the going concern basis. No adjustments other than redundancies were necessary to reflect the change in basis of preparation.”

Significant events

• “The LLP has seen a decrease in operational costs from £5,677,296 to £4,657,975 due to the closure of the boutique companies and as a consequent a reduction in the support needed from the LLP. This reduction has been off set by one off costs related to the closures of £1,368,566 resulting in an increase in expenditure year on year.”
• “In November 2023, BMFG decided upon a new strategy that focuses on its Australian operations. BennBridge, together with Skerryvore Asset Management LLP ("Skerryvore"), a BennBridge boutique, and BFMG have developed a business plan for UK financial services operations that centers on facilitating a change in control application for Skerryvore to fully acquire BennBridge Ltd. This transaction was completed on 1 August 2024 with the change in control being effective from that date.”
• “There are presently no plans to close down the LLP, however, post the change in control of BennBridge Ltd, the LLP will become a dormant entity.”
• “Subsequent to year end, following the change in control of Skerryvore AM LLP and BennBridge Ltd, the activities of the LLP will be closed down.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

1

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -1.5%

  £7,180,959 → £7,076,685

• Cash

  —

  Not reported

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Operating profit

  -29.5%

  £1,326,225 → £935,041

• Wages

  -18.2%

  £2,282,101 → £1,866,270

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers