ARPEGE_PARTNERS_LIMITED

ARPEGE PARTNERS LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARPEGE PARTNERS LIMITED FOR THE YEAR ENDED 31 JANUARY 2014

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The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arpege Partners Limited for the year ended 31 January 2014 set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Arpege Partners Limited, as a body, in accordance with the terms of our engagement letter dated 23 October 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Arpege Partners Limited and state those matters that we have agreed to state to the Board of Directors of Arpege Partners Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arpege Partners Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Arpege Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Arpege Partners Limited. You consider that Arpege Partners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arpege Partners Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Gerald Edelman

28 November 2014

Chartered Accountants

25 Harley Street

London

W1G 9BR

ARPEGE PARTNERS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2014

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2014

2013

Notes

Fixed assets

Tangible assets

8,681

Current assets

Debtors

23,965

12,000

Cash at bank and in hand

30,000

24,053

42,000

Creditors: amounts falling due within one year

(22,432)

(22,715)

Net current assets

1,621

19,285

Total assets less current liabilities

10,302

19,285

Capital and reserves

Called up share capital

100

Profit and loss account

10,202

19,185

Shareholders' funds

10,302

19,285

For the financial year ended 31 January 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 November 2014

Mr C Lamielle

Director

Company Registration No. 07135997

ARPEGE PARTNERS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for concultancy and advisory services net of VAT.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performances.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

10% reducing balance

Fixed assets

Tangible assets

Cost

At 1 February 2013

Additions

9,645

At 31 January 2014

9,645

Depreciation

At 1 February 2013

Charge for the year

964

At 31 January 2014

964

Net book value

At 31 January 2014

8,681

ARPEGE PARTNERS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2014

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Fixed asset investments

The company is a member of Casteel Capital LLP ("the LLP") and has no capital contribution as at 31 January 2013.

The LLP is incorporated in England and Wales and the principal activity of the LLP is that of investment advisory services. The aggregate amount of Members' loan and other interests of the LLP as at 30 June 2013 amounted to £597,564 and the profit for the year ended 30 June 2013 of the LLP was £507,562.

Share capital

2014

2013

Allotted, called up and fully paid

50 Ordinary-A shares of £1 each

50 Ordinary-B shares of £1 each

100