0001193125-23-017724 | S-1 | XBRL Viewer | Alvarium Tiedemann Holdings INC

Deferred offering costs | $

Current assets

Cash | $

$ 463,990

$ 551,258

$ 0

Prepaid Expenses | $

19,039

70,406

Total Current Assets | $

483,029

621,664

130,686

Provisions

Cash and marketable securities held in Trust Account | $

347,105,214

345,031,308

Total Assets | $

347,588,243

345,652,972

130,686

Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit

Accounts payable and accrued expenses | $

491,688

182,120

Accrued offering costs and expenses | $

113,778

Total Current Liabilities | $

491,688

182,120

113,778

Convertible promissory note — related party | $

477,038

Deferred underwriting fee | $

12,075,000

Warrant liabilities | $

6,365,078

23,093,608

Total Liabilities | $

19,408,804

35,350,728

113,778

Commitments and Contingencies | $

^[1]

Redeemable Ordinary Shares

Class A ordinary shares subject to possible redemption, 34,500,000 shares, issued and outstanding, at redemption values of approximately $10.06 and $10.00 at September 30, 2022 and December 31, 2021, respectively | $

347,105,214

345,031,308

Shareholders' Deficit

Preference shares | $

Class A ordinary shares | $

Class B ordinary shares | $

863

^[2]

719

^[2]

Capital and reserves

Additional paid-in capital | $

24,137

Profit and loss account | $

(18,926,638)

(34,729,927)

(7,948)

Total Shareholders' Deficit

(18,925,775)

(34,729,064)

16,908

£ 17,052

Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit | $

$ 347,588,243

$ 345,652,972

$ 130,686

[1]

See Note 6 for revised disclosure regarding contingent fees in connection with financial advisor engagements.

[2]

On December 31, 2020, an aggregate of 7,187,500 founder shares were issued to the Sponsor for an aggregate purchase price of $25,000. In February 2021, the Sponsor transferred an aggregate of 75,000 founder shares to the Company’s independent directors. Additionally, on February 23, 2021, the Company effectuated a recapitalization, and an additional 1,437,500 Class B ordinary shares were issued to the Sponsor and, as a result, the initial shareholders held 8,625,000 founder shares, including up to 1,125,000 founder shares which were subject to forfeiture by the Sponsor, if the over-allotment option was not exercised by the underwriters in full. As a result of the underwriters’ full exercise of their over-allotment option on February 26, 2021, none of the Class B ordinary shares are subject to forfeiture any longer.

Condensed Balance Sheets (Parentheticals)

12 Months Ended

Feb. 28, 2021

USD ($)

Dec. 31, 2020

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Sep. 30, 2022

$ / shares

Dec. 31, 2021

£ / shares

Dec. 31, 2020

£ / shares

Preference shares, par value (in Dollars per share) | $ / shares

$ 0.0001

Preference shares, shares authorized

1,000,000

Preference shares, shares issued

Preference shares, shares outstanding

Founder Shares | $

$ 24,856

$ 144

Sponsor.Member [Member] | Cartesian Growth Corp [Member]

Ordinary shares, par value (in Dollars per share) | £ / shares

75,000

7,187,500

Founder Shares | $

$ 1,437,500

$ 25,000

Class A Ordinary Shares

£ 0.01

Class A Ordinary Shares | Cartesian Growth Corp [Member]

Ordinary shares subject to possible redemption

34,500,000

Subject to possible redemption shares Outstanding

34,500,000

Ordinary shares subject to possible redemption price per share | $ / shares

$ 10

$ 10.06

Ordinary shares, par value (in Dollars per share) | $ / shares

$ 0.0001

Ordinary shares, authorized

200,000,000

Ordinary shares, issued

Ordinary shares, outstanding

Class B Ordinary Shares | Cartesian Growth Corp [Member]

34,500,000

Ordinary shares, par value (in Dollars per share) | $ / shares

$ 0.0001

Ordinary shares, authorized

20,000,000

Ordinary shares, issued

7,187,500

8,625,000

7,187,500

Ordinary shares, outstanding

7,187,500

8,625,000

7,187,500

^[1]

7,187,500

[1]

Unaudited Condensed Statements of Operations		3 Months Ended		9 Months Ended				12 Months Ended
Unaudited Condensed Statements of Operations	Dec. 31, 2020 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2022 GBP (£) shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2021 GBP (£) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 GBP (£) shares	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 GBP (£)
Turnover					£ 63,997,183		£ 49,820,243		£ 75,164,498	£ 52,263,050	£ 47,070,105
Cost of sales					(48,970,116)		(32,406,331)		(50,415,876)	(40,032,428)	(33,364,300)
Gross profit					15,027,067		17,413,912		24,748,622	12,230,622	13,705,805
Administrative expenses					(22,225,242)		(10,592,753)		(19,983,039)	(12,629,478)	(12,707,690)
Government grant income									0	759,664	0
Gains/(losses) on investments					2,108		0		(452,591)	165,014	140,235
Amortisation of goodwill					(2,617,635)		(2,553,677)		(3,429,870)	(3,488,827)	(2,836,126)
Amortisation of intangible assets other than goodwill					(3,217,301)		(1,717,564)		(2,293,872)	(2,334,873)	(2,345,165)
Loss from operations					(13,031,003)		2,549,918		(1,410,750)	(5,297,878)	(4,042,941)
Other income (expense):
Gain on impairment or disposal of operations									0	577,795	480
Gain loss on financial assets at fair value through profit or loss					(92,440)		0		(54,136)		0
Loss on disposal of investment in associate					(54,606)		0		(54,136)	0
Gain on disposal of investment in joint venture					4,660,853		0
Share of profit of associates					578,126		532,184		1,410,850	459,284	934,179
Share of profit of joint ventures					66,649		1,662,987		2,898,485	1,925,289	663,847
Income from other fixed asset investments					10,370		547,789		547,789	3,158	62,995
Interest receivable					142,268		198,985		204,070	249,084	142,245
Amounts written off investments					0		(53,120)		(373,425)	(879,498)	(169,418)
Interest payable					(2,981,105)		(1,491,055)		(1,811,470)	(729,588)	(813,457)
Profit/(loss) before taxation					(10,700,888)		3,947,688		1,411,413	(3,692,354)	(3,222,070)
Taxation on ordinary activities					654,170		613,258		536,461	315,163	(511,024)
Profit/(loss) for the financial year					(10,046,718)		4,560,946		1,947,874	(3,377,191)	(3,733,094)
Share of other comprehensive income of joint ventures					26,460		(116,036)		(507,667)	(112,050)	(165,917)
Foreign currency retranslation					2,122,113		(529,812)		(678,566)	951,843	(1,116,438)
Other comprehensive income/(loss) for the year					2,148,573		(645,848)		(1,186,233)	839,793	(1,282,355)
Total comprehensive income/(loss) for the year					(7,898,145)		3,915,098		761,641	(2,537,398)	(5,015,449)
Net Income (Loss) Attributable to Parent [Abstract]
The owners of the parent company					(10,038,066)		3,819,980		1,126,029	(4,845,399)	(4,693,952)
Non-controlling interests					(8,652)		740,966		821,845	1,468,208	960,858
Profit/(loss) for the financial year					(10,046,718)		4,560,946		1,947,874	(3,377,191)	(3,733,094)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
The owners of the parent company					(7,889,773)		3,175,891		(57,666)	(4,010,562)	(5,972,610)
Non-controlling interests					(8,372)		739,207		819,307	1,473,164	957,161
Total comprehensive income/(loss) for the year					£ (7,898,145)		£ 3,915,098		£ 761,641	£ (2,537,398)	£ (5,015,449)
Cartesian Growth Corp [Member]
Operating costs \| $	$ 7,948	$ 298,358	$ 239,380	$ 948,203		$ 537,871		$ 1,012,448
Loss from operations \| $	(7,948)	(298,358)	(239,380)	(948,203)		(537,871)		(1,012,448)
Other income (expense):
Interest earned on cash and marketable securities held in Trust Account \| $		1,539,531	4,440	2,096,274		24,019		31,308
Interest expense – debt discount \| $		(13,776)		(18,369)
Offering costs allocated to warrants \| $						(849,993)		(868,131)
Excess of Private Warrants fair value over purchase price \| $						(3,097,200)		(3,097,200)
Change in fair value of warrant liability \| $		6,982,035	(5,628,806)	16,728,530		2,941,413		3,911,091
Unrealized gain – treasury bills \| $		0		(22,368)
Change in fair value of conversion option liability \| $		5,998		41,331
Total other income (expense) \| $		8,513,788	(5,624,366)	18,825,398		(981,761)		(22,932)
Net income (loss) \| $	(7,948)	8,215,430	(5,863,746)	17,877,195		(1,519,632)		(1,035,380)
Profit/(loss) for the financial year \| $	$ (7,948)	$ 8,215,430	$ (5,863,746)	$ 17,877,195		$ (1,519,632)		$ (1,035,380)
Weighted average shares outstanding, basic \| shares								8,449,315	8,449,315
Weighted average shares outstanding, diluted \| shares								8,449,315	8,449,315
Common Class A [Member] \| Cartesian Growth Corp [Member]
Other income (expense):
Weighted average shares outstanding, basic \| shares		34,500,000	34,500,000	34,500,000	34,500,000	27,296,703	27,296,703	29,112,329	29,112,329
Earnings per share, basic \| $ / shares	$ 0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)		$ (0.03)
Weighted average shares outstanding, diluted \| shares		34,500,000	34,500,000	34,500,000	34,500,000	27,296,703	27,296,703	29,112,329	29,112,329
Earnings per share, diluted \| $ / shares	0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)		$ (0.03)
Common Class B [Member] \| Cartesian Growth Corp [Member]
Other income (expense):
Weighted average shares outstanding, basic \| shares		8,625,000	8,625,000	8,625,000	8,625,000	8,390,110	8,390,110	8,449,315	8,449,315
Earnings per share, basic \| $ / shares	0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)		$ (0.03)
Weighted average shares outstanding, diluted \| shares		8,625,000	8,625,000	8,625,000	8,625,000	8,390,110	8,390,110	8,449,315	8,449,315
Earnings per share, diluted \| $ / shares	$ 0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)		$ (0.03)

Unaudited Condensed Statements of Changes in Shareholders' Deficit

USD ($)

GBP (£)

Cartesian Growth Corp [Member]

USD ($)

Cartesian Growth Corp [Member]

GBP (£)

Called up share capital

GBP (£)

Share premium account

USD ($)

Share premium account

GBP (£)

Share premium account

Cartesian Growth Corp [Member]

USD ($)

Share premium account

Cartesian Growth Corp [Member]

GBP (£)

Other reserves

GBP (£)

Profit and loss account

USD ($)

Profit and loss account

GBP (£)

Profit and loss account

Cartesian Growth Corp [Member]

USD ($)

Profit and loss account

Cartesian Growth Corp [Member]

GBP (£)

Equity attributable to the owners of the parent company

GBP (£)

Non- controlling interests

GBP (£)

Class A

Called up share capital

Cartesian Growth Corp [Member]

USD ($)

Class A

Called up share capital

Cartesian Growth Corp [Member]

GBP (£)

Class B

Cartesian Growth Corp [Member]

Class B

Called up share capital

USD ($)

Class B

Called up share capital

Cartesian Growth Corp [Member]

USD ($)

Class B

Called up share capital

Cartesian Growth Corp [Member]

GBP (£)

Balance at Dec. 31, 2018

£ 49,117,212

£ 5,873

£ 23,001,035

£ 26,062,565

£ 49,069,473

£ 47,739

20,277,663

1,007

£ 20,276,656

20,277,663

Share of other comprehensive income of joint ventures

(3,733,094)

(4,693,952)

960,858

(165,917)

(1,116,438)

(1,112,741)

(3,697)

(5,015,449)

(5,972,610)

957,161

(1,408,460)

Acquisition of subsidiary with minority interest

8,818

663,385

19,541,406

1,007

20,276,656

8,818

20,286,481

(745,075)

Balance at Dec. 31, 2019

63,643,169

6,880

20,276,656

23,001,035

20,098,773

63,383,344

259,825

1,411,440

1,411,372

1,411,440

Share of other comprehensive income of joint ventures

(3,377,191)

(4,845,399)

1,468,208

(112,050)

951,843

946,887

4,956

(2,537,398)

(4,010,562)

1,473,164

(137,112)

7,296

1,281,624

1,411,372

7,296

1,418,736

(137,112)

60,791,518

$ 16,908

£ 17,052

$ 24,137

£ 24,137

$ (7,948)

£ (7,948)

£ 0

$ 719

£ 863

7,187,500

^[1]

8,625,000

Balance at Dec. 17, 2020 | $

62,387,395

6,948

21,688,028

23,001,035

16,095,507

60,791,518

1,595,877

Balance (in Shares) at Dec. 17, 2020 | shares

^[1]

Class B ordinary shares issued to Sponsor | $

24,856

24,137

$ 719

Class B ordinary shares issued to Sponsor (Shares) | shares

^[1]

7,187,500

(7,948)

60,791,518

16,908

17,052

24,137

(7,948)

£ 0

$ 719

£ 863

7,187,500

^[1]

8,625,000

Sale of 34,500,000 Units, net of underwriting commissions and offering expenses (in Shares) | shares

62,387,395

6,948

21,688,028

23,001,035

16,095,507

60,791,518

1,595,877

Issue of shares | $

326,309,933

326,306,483

$ 3,450

34,500,000

Sale of 8,900,000 Private Warrants | $

8,900,000

Initial classification of warrant liability | $

(23,907,500)

Remeasurement of Class A ordinary shares subject to possible redemption | $

(335,773,905)

(311,323,120)

(33,680,583)

$ (3,450)

Remeasurement of Class A ordinary shares subject to possible redemption (Shares) | shares

(34,500,000)

Balance at Mar. 31, 2021 | $

(4,901,560)

(38,589,228)

(38,590,091)

$ 0

$ 863

Balance (in Shares) at Mar. 31, 2021 | shares

8,625,000

60,791,518

16,908

17,052

24,137

(7,948)

£ 0

$ 719

£ 863

7,187,500

^[1]

8,625,000

62,387,395

6,948

21,688,028

23,001,035

16,095,507

60,791,518

1,595,877

923,365

923,325

923,365

Share of other comprehensive income of joint ventures

4,560,946

(1,519,632)

3,819,980

740,966

(116,036)

(529,812)

(528,053)

(1,759)

3,915,098

3,175,891

739,207

Cancellation of subscribed capital

(735,900)

(21)

Increase in shareholding in subsidiary company

(1,333)

(12,096,134)

(10,944,580)

(1,151,554)

Balance at Sep. 30, 2021 | $

(11,910,023)

923,325

(10,945,913)

(10,022,569)

(1,887,454)

(35,224,166)

(35,225,029)

$ 0

$ 863

Balance (in Shares) at Sep. 30, 2021 | shares

8,625,000

Balance at Sep. 30, 2021

54,392,470

6,967

22,611,353

23,001,035

8,325,485

53,944,840

447,630

60,791,518

16,908

£ 17,052

24,137

£ 24,137

(7,948)

£ (7,948)

£ 0

$ 719

£ 863

7,187,500

^[1]

8,625,000

62,387,395

6,948

21,688,028

23,001,035

16,095,507

60,791,518

1,595,877

Class B ordinary shares issued to Sponsor | $

10,417,998

506

10,417,492

10,417,998

144

$ 144

Class B ordinary shares issued to Sponsor (Shares) | shares

^[1]

1,437,500

Accretion of ordinary shares subject to possible redemption | $

(33,710,736)

(24,137)

(33,686,599)

Share of other comprehensive income of joint ventures

1,947,874

(1,035,380)

1,126,029

(1,035,380)

1,126,029

821,845

(507,667)

(678,566)

(676,028)

(2,538)

761,641

(57,666)

819,307

Cancellation of subscribed capital

(901,103)

(21)

Increase in shareholding in subsidiary company

(1,333)

(16,359,408)

(14,858,803)

(1,500,605)

(6,843,867)

485

10,417,492

(14,860,136)

(4,442,159)

(2,401,708)

Balance (in Shares) at Dec. 31, 2021 | shares

56,291,693

(34,729,064)

(34,729,927)

$ 863

^[1]

8,625,000

Balance at Mar. 31, 2021 | $

56,305,169

7,433

32,105,520

23,001,035

1,177,705

56,291,693

13,476

(38,589,228)

(38,590,091)

$ 0

$ 863

Balance (in Shares) at Mar. 31, 2021 | shares

8,625,000

Remeasurement of Class A ordinary shares subject to possible redemption | $

(12,426)

Balance at Jun. 30, 2021 | $

9,245,674

(29,355,980)

(29,356,843)

$ 0

$ 863

Balance (in Shares) at Jun. 30, 2021 | shares

8,625,000

Remeasurement of Class A ordinary shares subject to possible redemption | $

(4,440)

Balance at Sep. 30, 2021 | $

(5,863,746)

(35,224,166)

(35,225,029)

$ 0

$ 863

Balance (in Shares) at Sep. 30, 2021 | shares

8,625,000

Balance at Sep. 30, 2021

54,392,470

6,967

22,611,353

23,001,035

8,325,485

53,944,840

447,630

Balance (in Shares) at Dec. 31, 2021 | shares

56,291,693

(34,729,064)

(34,729,927)

$ 863

^[1]

8,625,000

Remeasurement of Class A ordinary shares subject to possible redemption | $

56,305,169

7,433

32,105,520

23,001,035

1,177,705

56,291,693

13,476

(119,996)

Balance at Mar. 31, 2022 | $

9,920,886

(24,928,174)

(24,929,037)

$ 863

Balance (in Shares) at Mar. 31, 2022 | shares

8,625,000

Balance (in Shares) at Dec. 31, 2021 | shares

56,291,693

(34,729,064)

(34,729,927)

$ 863

^[1]

8,625,000

56,305,169

7,433

32,105,520

23,001,035

1,177,705

56,291,693

13,476

Share of other comprehensive income of joint ventures

(10,046,718)

17,877,195

(10,038,066)

(8,652)

26,460

2,122,113

2,121,833

280

Increase in shareholding in subsidiary company

(7,898,145)

(7,889,773)

(8,372)

(15,616)

(15,616)

Balance (in Shares) at Sep. 30, 2022 | shares

48,386,304

(18,925,775)

(18,926,638)

$ 863

8,625,000

Balance at Mar. 31, 2022 | $

48,391,408

7,433

32,105,520

23,001,035

(6,727,684)

48,386,304

5,104

(24,928,174)

(24,929,037)

$ 863

Balance (in Shares) at Mar. 31, 2022 | shares

8,625,000

Remeasurement of Class A ordinary shares subject to possible redemption | $

(414,378)

Balance at Jun. 30, 2022 | $

(259,121)

(25,601,673)

(25,602,536)

$ 863

Balance (in Shares) at Jun. 30, 2022 | shares

8,625,000

Remeasurement of Class A ordinary shares subject to possible redemption | $

(1,539,532)

8,215,430

Balance (in Shares) at Sep. 30, 2022 | shares

48,386,304

$ (18,925,775)

$ 0

$ (18,926,638)

$ 863

8,625,000

Underwriting commissions and offering expenses

£ 48,391,408

£ 7,433

£ 32,105,520

£ 23,001,035

£ (6,727,684)

£ 48,386,304

£ 5,104

[1]

Unaudited Condensed Statements of Changes in Shareholders' Deficit (Parenthetical) - Cartesian Growth Corp [Member] - USD ($)

1 Months Ended

3 Months Ended

Dec. 31, 2020

Feb. 23, 2021

Mar. 31, 2021

$ 34,500,000

Private Warrants

$ 8,900,000

Founder Shares

$ 24,856

Sponsor [Member]

7,187,500

1,125,000

Founder Shares

$ 25,000

$ 1,437,500

Common Class B [Member]

8,625,000

Organization, Consolidation and Presentation of Financial Statements [Abstract]

^[1]

7,187,500

[1]

Unaudited Condensed Statements of Cash Flows		3 Months Ended	9 Months Ended				12 Months Ended
Unaudited Condensed Statements of Cash Flows	Dec. 31, 2020 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 GBP (£)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 GBP (£)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 GBP (£)	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 GBP (£)
Cash flows from operating activities:
Profit/(loss) for the financial year				£ (10,046,718)		£ 4,560,946		£ 1,947,874	£ (3,377,191)	£ (3,733,094)
Adjustments for:
Depreciation of tangible assets				368,699		417,606		552,293	536,319	438,768
Amortisation of intangible assets				5,834,937		4,271,241		5,723,742	5,823,700	5,181,291
Amounts written off investments				0		53,120		373,425	879,498	169,418
Loss on financial assets at fair value through profit or loss				92,440		0		54,136		0
Profit on disposal of investments				(4,608,356)
Share of profit of associates				(578,126)		(532,184)		(1,410,850)	(459,284)	(934,179)
Share of profit of joint ventures				(66,649)		(1,662,987)		(2,898,485)	(1,925,289)	(663,847)
Income from other fixed asset investments				(10,370)		(547,789)		(547,789)	(3,158)	(62,995)
Interest receivable				(142,268)		(198,985)		(204,070)	(249,084)	(142,245)
Interest payable				2,981,105		1,491,055		1,811,470	729,588	813,457
Equity-settled share-based payments						(1,333)		(1,333)	7,298	8,818
Cash-settled share-based payments				10,442,728
Gain on impairment or disposal of operations								0	(577,795)	(480)
(Gain)/loss on disposal of other investments				(2,108)		0		0	(222,222)	0
(Gain)/loss on disposal and restructuring of interests in joint ventures								452,591	57,206	(140,235)
Unrealised foreign currency gains				(1,234,940)		120,229		(46,570)	256,619	(366,910)
Taxation on ordinary activities				(654,170)		(613,258)		(536,461)	(315,163)	511,024
Impairment of other fixed asset investments						53,120
Changes in:
Trade and other debtors				645,397		(6,472,626)		(7,920,849)	(3,058,969)	(4,168,653)
Trade and other creditors				(4,264,444)		2,964,262		15,154,004	4,038,604	(1,485,856)
Cash generated from operations				(1,240,735)		3,849,297		12,503,128	2,140,677	(4,575,718)
Dividends received				2,542,731		2,315,282		3,109,589	2,351,142	7,547,756
Tax received/(paid)				(216,195)		(109,526)		(1,160,931)	(1,161,396)	(511,742)
Changes in operating assets and liabilities:
Net cash (used in)/from operating activities				1,085,801		6,055,053		14,451,786	3,330,423	2,460,296
Cash flows from investing activities
Purchase of tangible assets				(1,039,724)		(322,163)		(415,228)	(381,522)	(326,161)
Purchase of intangible assets										(5,589,979)
Cash receipts pursuant to asset acquisition				2,665,419
Cash advances and loans granted				(1,250,114)		(2,340,308)		(2,741,467)	(1,799,350)	(1,214,345)
Cash receipts from the repayment of advances and loans				471,549		189,325		615,512	404,677	1,673,506
Acquisition of subsidiaries net of cash acquired									71,157	(7,575,081)
Acquisition of interests in associates and joint ventures				(7,452)		(6,208)		(6,208)	(85)	(552,824)
Proceeds from sale of interests in associates and joint ventures								10,206
Purchases of other investments				(37,142)		(132,112)		(170,210)	(78,904)	(24,827)
Proceeds from sale of other investments				19,134				102,740	224,361	21,123
Interest received				93,090		40,966		43,210	59,402	10,206
Deferred consideration paid on acquisition				(192,461)		(853,000)		(859,107)	(999,081)	(460,847)
Outflow of cash balances on disposal of subsidiary									(2,934)
Transaction with equity holders				(15,615)		(1,596,107)		(6,326,146)
Net cash from/ (used in) investing activities				706,684		(5,019,607)		(9,746,698)	(2,502,279)	(14,039,229)
Cash flows from financing activities
Proceeds from issue of ordinary shares									1,411,440	10,500,245
Proceeds from borrowings						1,500,000		1,675,460	0	6,550,000
Proceeds from loans from participating interests						260,618
Repayments of loans from participating interests						(63,385)				(180,000)
Payments of finance lease liabilities				(127,174)		(367,510)		(240,336)	(222,793)	(206,529)
Interest paid				(3,167,353)		(476,958)		(912,769)	(628,992)	(739,273)
Dividends paid						(395,900)		(561,103)	(137,112)	(10,335,574)
Net cash from/(used in) financing activities				(3,294,527)		456,865		(38,748)	422,543	5,588,869
Net (decrease)/increase in cash and cash equivalents				(1,502,042)		1,492,311		4,666,340	1,250,687	(5,990,064)
Cash and cash equivalents at beginning of period				12,961,870		8,298,069		8,298,069	7,057,488	13,133,369
Exchange gains/(losses) on cash and cash equivalents				965,291		6,578		(2,539)	(10,106)	(85,817)
Cash and cash equivalents at end of period				£ 12,425,119		£ 9,796,958		£ 12,961,870	£ 8,298,069	£ 7,057,488
Cartesian Growth Corp [Member]
Cash flows from operating activities:
Profit/(loss) for the financial year \| $	$ (7,948)	$ 8,215,430	$ 17,877,195		$ (1,519,632)		$ (1,035,380)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Interest earned on cash and marketable securities held in Trust Account \| $			(2,096,274)		(24,019)		(31,308)
Interest expense — debt discount \| $		13,776	18,369
Offering costs allocated to warrants \| $					849,993		868,131
Excess of Private Warrants fair value over purchase price \| $					3,097,200		3,097,200
Change in fair value of warrant liability \| $		(6,982,035)	(16,728,530)		(2,941,413)		(3,911,091)
Unrealized loss — treasury bills \| $		0	22,368
Change in fair value of conversion option liability \| $		(5,998)	(41,331)
Changes in operating assets and liabilities:
Prepaid expenses \| $			51,367		(198,465)		(70,406)
Accounts payable and accrued expenses \| $	7,948		309,568		(7,830)		174,172
Net cash (used in)/from operating activities \| $			(587,268)		(744,166)		(908,682)
Cash flows from investing activities
Investment of cash in Trust Account \| $					(345,000,000)		(345,000,000)
Net cash from/ (used in) investing activities \| $					(345,000,000)		(345,000,000)
Cash flows from financing activities
Proceeds from sale of Units, net of underwriting commissions \| $					338,100,000		338,100,000
Proceeds from sale of Private Warrants \| $					8,900,000		8,900,000
Proceeds from issuance of promissory note to Sponsor \| $			500,000		144,890		144,890
Payment on promissory issued to Sponsor \| $					(144,890)		(144,890)
Payment of deferred offering costs \| $					(540,060)		(540,060)
Net cash from/(used in) financing activities \| $			500,000		346,459,940		346,459,940
Net (decrease)/increase in cash and cash equivalents \| $			(87,268)		715,774		551,258
Cash and cash equivalents at beginning of period \| $			551,258		0		0
Cash and cash equivalents at end of period \| $	0	$ 463,990	463,990		715,774		551,258
Supplemental disclosure of cash flow information:
Initial classification of Class A ordinary shares subject to possible redemption \| $					345,000,000		345,000,000
Remeasurement of Class A ordinary shares subject to possible redemption \| $			$ 2,073,906		24,019
Deferred underwriters' discount payable charged to additional paid-in capital \| $					12,075,000		12,075,000
Initial classification of warrant liability \| $					$ 27,004,700		$ 27,004,700
Deferred offering costs included in accrued expenses \| $	113,634
Deferred offering costs paid by Sponsor in exchange for issuance of Founder Shares \| $	$ 25,000

General Information

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

General information

1.	General information

Alvarium Investments Limited (the Company) is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Old Burlington Street, London, W1S 3AG, England. This report contains the consolidated results of Alvarium Investments Limited and its subsidiaries, joint ventures and associates (together the Group).

1.	General information

Alvarium Investments Limited (the Company) is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Old Burlington Street, London, W1S3AG, England. This report contains the consolidated results of Alvarium Investments Limited and its subsidiaries, joint ventures and associates (together the Group).

Organization and Business Operations

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Organization and Business Operations

1.	General information

1.	General information

Alvarium Investments Limited (the Company) is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Old Burlington Street, London, W1S3AG, England. This report contains the consolidated results of Alvarium Investments Limited and its subsidiaries, joint ventures and associates (together the Group).

Organization and Business Operations

Note 1 — Organization and Business Operations

Cartesian Growth Corporation (the “Company”) was incorporated as a Cayman Islands exempted company on December 18, 2020. The Company was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or engaging in any other similar business combination with one or more businesses (the “Business Combination”).

As of September 30, 2022, the Company had not commenced any operations. All activity through September 30, 2022 relates to the Company’s formation and its initial public offering (the “IPO”) which is described below and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company

generates non-operating income

in the form of interest income from the proceeds derived from the IPO.

The Company’s sponsor is CGC Sponsor LLC, a Cayman Islands limited liability Company (the “Sponsor”).

On February 26, 2021, the Company consummated the IPO, including the full exercise of the over-allotment option by the underwriters on February 23, 2021, of 34,500,000 units (the “Units” and, with respect to the Class A ordinary shares and warrants included in the Units, the “Class A ordinary shares” and “Public Warrants,” respectively), at $10.00 per Unit, generating gross proceeds of $345,000,000, which is further discussed in Note 3. Each Unit consists of one Class A ordinary share

and one-third of

one redeemable warrant to purchase one Class A ordinary share at a price of $11.50 per whole share. The registration statements on

Form S-1 (File

Nos. 333-252784 and 333-253428) for

the Company’s IPO were declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2021.

Simultaneously with the closing of the IPO, the Company consummated the sale of 8,900,000 warrants (the “Private Warrants,” and together with the “Public Warrants,” the “Warrants”), at a price of $1.00 per Private Warrant, in a private placement to the Sponsor, generating gross proceeds of $8,900,000, which is further discussed in Note 4.

Transaction costs of the IPO amounted to $19,540,060, consisting of $6,900,000 of underwriting commission, $12,075,000 of deferred underwriting commission, and $565,060 of other offering costs.

Following the closing of the IPO on February 26, 2021, $345,000,000 (or $10.00 per Unit) of the net offering proceeds of the sale of the Units and the sale of the Private Warrants was placed in a trust account for the benefit of the Company’s public shareholders (the “Trust Account”), with Continental Stock Transfer & Trust Company acting as trustee. The proceeds in the Trust Account may be invested in U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions

under Rule 2a-7 under the

Investment Company Act that invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the funds held in the Trust Account will not be released from the Trust Account until the earliest to occur of: (i) the completion of an initial Business Combination, (ii) the redemption of the Class A ordinary shares if the Company is unable to complete its initial Business Combination by February 26, 2023, subject to applicable law, and (iii) the redemption of any Class A ordinary shares properly tendered in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association (a) to modify the substance or timing of the Company’s obligation to redeem 100% of the Class A ordinary shares if it does not complete its initial Business Combination by February 26, 2023 or (b) with respect to any other provision relating to shareholders’ rights

or pre-initial business combination

activity.

The Company will provide the holders of its outstanding Class A ordinary shares (the “public shareholders”) with the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of the initial

Business Combination either (i) in connection with a general meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require the Company to seek shareholder approval under the law or stock exchange listing requirement. The public shareholders will be entitled to redeem their shares at

a per-share price, payable

in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, if any, divided by the number of then outstanding Class A ordinary shares. The amount in the Trust Account is initially anticipated to be $10.00 per public share. The per share amount the Company will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters.

The Company will have until February 26, 2023 to complete the initial Business Combination. If the Company is unable to complete the initial Business Combination by February 26, 2023, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the Class A ordinary shares, at

a per-share price, payable

in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less tax payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Class A ordinary shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.

The Company’s initial shareholders, officers and directors have agreed to (i) waive their redemption rights with respect to their Class B ordinary shares, par value of $0.0001 per share (the “founder shares”) (as described in Note 3) and any Class A ordinary shares purchased during or after the IPO, in connection with the completion of the initial Business Combination, (ii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination by February 26, 2023, although they will be entitled to liquidating distributions from the Trust Account with respect to any Class A ordinary shares they acquired during or after the IPO if the Company fails to complete the initial Business Combination within the prescribed time frame, and (iii) vote any founder shares held by them and any Class A ordinary shares purchased during or after the IPO (including in open market and privately-negotiated transactions) in favor of the initial Business Combination. The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account.

This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, then the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company has not independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company has not asked the Sponsor to reserve for such indemnification obligations. Therefore, the Company cannot assure you that the Sponsor would be able to satisfy those obligations. As a result, if any such claims were successfully made against the Trust Account, the funds available for the initial Business Combination and redemptions could be reduced to less than $10.00 per public share. In such event, the Company may not be able to complete the initial Business Combination, and the public shareholders would receive such lesser amount per share in connection with any redemption of the Class A

ordinary shares. None of the Company’s officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

Proposed Business Combination

Business Combination Agreement

On September 19, 2021, the Company, Tiedemann Wealth Management Holdings, LLC, a Delaware limited liability company (“TWMH”), TIG Trinity GP, LLC, a Delaware limited liability company (“TIG GP”), TIG Trinity Management, LLC, a Delaware limited liability company (“TIG MGMT” and, together with TIG GP, the “TIG Entities”), Alvarium Investments Limited, an English private limited company (“Alvarium” and, together with TWMH and the TIG Entities, the “Target Companies”), Rook MS LLC, a Delaware limited liability company and Alvarium Tiedemann Capital, LLC, a Delaware limited liability company (“Umbrella”) entered into a business combination agreement (as may be amended, supplemented, or otherwise modified from time to time, the “Business Combination Agreement”), pursuant to which the Company will hold Umbrella, a newly formed Delaware limited liability company for purposes of effecting the transactions contemplated by the Business Combination Agreement, which will hold the businesses of the Target Companies.

On February 11, 2022, the Company, TWMH, the TIG Entities, Alvarium, Umbrella Merger Sub and Umbrella entered into Amendment No. 1 to the Business Combination Agreement, solely to (a) amend Section 12.01(b) of the Business Combination Agreement for the purpose of extending the Outside Date, as such term is used in the Business Combination Agreement, to July 29, 2022 and (b) amend the form of Registration

Rights and Lock-up Agreement attached

as Exhibit F of the Business Combination Agreement for the purpose of providing that

the General Lock-up Period, as

such term is used in the Business Combination Agreement, will be (i) for an amount equal to forty percent (40%)

of the Lock-up Shares, as

such term is used in the Business Combination Agreement, one year from the closing of the Business Combination (the “Closing”), (ii) for an amount equal to thirty percent (30%)

of the Lock-up Shares, two

years from the Closing and (iii) for an amount equal to thirty percent (30%)

of the Lock-up Shares, three

years from the Closing.

On May 13, 2022, CGC, TWMH, the TIG Entities, Alvarium, Umbrella Merger Sub and Umbrella entered into Amendment No. 2 to the Business Combination Agreement, solely to amend the definitions of “Alvarium Closing Cash Adjustment,” “Available Cash,” “Companies Equity Value,” “CFO Expenses,” “Excess Transaction Expenses,” “SHP Discretionary Banking Fee,” “TIG Entities Closing Cash Adjustment,” “Transaction Expenses” and “TWMH Closing Cash Adjustment,” and to amend a certain schedule of each of the Alvarium Disclosure Schedule, the TIG Disclosure Schedule and the TWMH Disclosure Schedule.

On August 8, 2022, CGC, TWMH, the TIG Entities, Alvarium, Umbrella Merger Sub and Umbrella entered into Amendment No. 3 to the Business Combination Agreement, solely to (a) amend Section 3.07(a) of the Business Combination Agreement for the purpose of providing that 2,100,000 shares of the Alvarium Shareholders

Earn-Out

Consideration (as defined in the Business Combination Agreement) shall be issued at Closing and (b) amend Section 1.01 of the Business Combination Agreement to exclude from the definition of “Indebtedness” contained therein liabilities incurred or assumed by Alvarium (or the applicable subsidiary of Alvarium) in connection with the acquisition by Amalfi Bidco Limited of Prestbury Investment Partners Limited dated July 11, 2022.

Registration Statement on

Form S-4

The Company filed a registration statement on

Form S-4 (File No. 333-262644) (the

“Form S-4”) with

the SEC on February 11, 2022, in connection with the Business Combination Agreement. The consummation of the transactions contemplated by the Business Combination Agreement is subject to customary conditions, representations and warranties, covenants and closing conditions in the Business Combination Agreement, including, but not limited to, approval by the Company’s shareholders of the Business Combination Agreement,

the effectiveness of the

Form S-4, and

other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close materially before the Company’s mandatory liquidation date. The Company filed amendments to the Form

S-4

with the SEC on May 13, 2022, June 27, 2022, July 25, 2022 and August 8, 2022. On October 17, 2022, the SEC declared effective the Form

S-4

and the Company commenced mailing the definitive proxy statement/prospectus relating to the Company’s extraordinary general meeting to be held on November 17, 2022 in connection with the Business Combination.

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

pandemic and has concluded that while it is reasonably possible that the COVID-19 pandemic could have a negative effect on the Company’s financial position, results of operations and/or its ability to consummate an initial Business Combination, the specific impact is not readily determinable as of the date of these unaudited condensed financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The military conflict commenced in February 2022 by the Russian Federation in Ukraine has created and is expected to create further global economic consequences, including but not limited to the possibility of extreme volatility and disruptions in the financial markets, diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in inflation rates and uncertainty about economic and political stability. Such global consequences may materially and adversely affect the Company’s ability to consummate an initial Business Combination, or the operations of a target business with which the Company ultimately consummates an initial Business Combination. In addition, the Company’s ability to consummate an initial Business Combination may be dependent on the ability to raise equity and debt financing which may be impacted by these events, including as a result of increased market volatility, or decreased market liquidity in third-party financing being unavailable on terms acceptable to the Company or at all. The impact of this action and related sanctions on the global economy and the specific impact on the Company’s financial position, results of operations and/or ability to consummate an initial Business Combination are not yet determinable. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), which, among other things, imposes a 1% excise tax on any domestic corporation that repurchases its stock after December 31, 2022 (the “Excise Tax”). The Excise Tax is imposed on the fair market value of the repurchased stock, with certain exceptions. Because the combined company will be a Delaware corporation and the Company’s securities are expected to trade on Nasdaq following the Business Combination, the Company will be a “covered corporation” within the meaning of the Inflation Reduction Act following the Business Combination. While not free from doubt, absent any further guidance from Congress, the Excise Tax may apply to any redemptions of its Class A ordinary shares after December 31, 2022, including redemptions in connection with the Business Combination, unless an exemption is available.

While the parties anticipate that the Business Combination and any related redemption of its Class A ordinary shares will occur before December 31, 2022, there can be no assurance that the Closing will not be delayed. Issuances of securities in connection with the Business Combination are expected to reduce the amount of the Excise Tax in connection with redemptions occurring in the same calendar year, but the number of securities redeemed may exceed the number of securities issued. Consequently, the Excise Tax may make a transaction with the Company less appealing to potential business combination targets. Further, the application of the Excise Tax in the event of a liquidation is uncertain.

Liquidity and Going Concern Consideration

As of September 30, 2022, the Company had $463,990 in its operating bank account and working capital deficit of $8,659.

As of the date of this prospectus, the Company is within 12 months of its mandatory liquidation date of February 26, 2023. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update

(“ASU”) 2014-15, “Disclosures

of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company anticipates the consummation of the Business Combination materially before the Company’s mandatory liquidation date, alleviating the concern about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination and February 26, 2023, the Company’s mandatory liquidation date.

Although the Company believes that the previously discussed proposed Business Combination will occur, the Company’s liquidation requirement discussed in the preceding paragraph and liquidity condition raise substantial doubt about the Company’s ability to continue as a going concern through one year from the date these unaudited condensed financial statements were issued if the Business Combination is not consummated. These unaudited condensed financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Note 1 — Organization and Business Operations

As of December 31, 2021, the Company had not commenced any operations. All activity through December 31, 2021 relates to the Company’s formation and its initial public offering (the “IPO”) which is described below and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company generates

non-operating

income in the form of interest income from the proceeds derived from the IPO.

The Company’s sponsor is CGC Sponsor LLC, a Cayman Islands limited liability Company (the “Sponsor”).

On February 26, 2021, the Company consummated the IPO, including the full exercise of the over-allotment option by the underwriters on February 23, 2021, of 34,500,000 units (the “Units” and, with respect to the Class A ordinary shares and warrants included in the Units, the “Public Shares” and “Public Warrants”, respectively), at $10.00 per Unit, generating gross proceeds of $345,000,000, which is further discussed in Note 3. Each Unit consists of one Class A ordinary share and

one-third

of one redeemable warrant to purchase one Class A ordinary share at a price of $11.50 per whole share. The registration statements on Form

S-1

(File Nos.

333-252784

and

333-253428)

for the Company’s IPO were declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2021.

Transaction costs of the IPO amounted to $19,540,060 consisting of $6,900,000 of underwriting commission, $12,075,000 of deferred underwriting commission, and $565,060 of other offering costs.

Rule 2a-7 under

the Investment Company Act that invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the funds held in the Trust Account will not be released from the Trust Account until the earliest to occur of: (i) the completion of an initial Business Combination, (ii) the redemption of the Public Shares if the Company is unable to complete its initial Business Combination by February 26, 2023, subject to applicable law, and (iii) the redemption of any Public Shares properly tendered in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association (a) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if it does not complete its initial Business Combination by February 26, 2023 or (b) with respect to any other provision relating to shareholders’ rights or

pre-initial business

combination activity.

The Company will provide the holders of its outstanding Public Shares (the “public shareholders”) with the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of the initial Business

Combination either (i) in connection with a general meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled to redeem their shares at a

per-share price,

payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, if any, divided by the number of then outstanding Public Shares. The amount in the Trust Account is initially anticipated to be $10.00 per public share. The per share amount the Company will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters.

The Company will have until February 26, 2023 to complete the initial Business Combination (the “Combination Period”). If the Company is unable to complete the initial Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the Public Shares, at a

per-share price,

payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less tax payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.

The Company’s initial shareholders, officers and directors have agreed to (i) waive their redemption rights with respect to their founder shares (as described in Note 3) and any Public Shares purchased during or after the IPO, in connection with the completion of the initial Business Combination, (ii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination within the Combination Period, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they acquired during or after the IPO if the Company fails to complete the initial Business Combination within the prescribed time frame, and (iii) vote any founder shares held by them and any Public Shares purchased during or after the IPO (including in open market and privately-negotiated transactions) in favor of the initial Business Combination. The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account.

Business Combination Agreement

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

pandemic and has concluded that while it is reasonably possible that it could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Liquidity and Going Concern Consideration

As of December 31, 2021, the Company had approximately $0.6 million in its operating bank account.

The Company is within 12 months of its mandatory liquidation date of February 26, 2023 as of the date of this Annual Report on Form

10-K.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”)

2014-15,

“Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company anticipates the consummation of the Business Combination in the second or third quarter of 2022 (see Note 9) alleviating the concern about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate, February 26, 2023.

These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Statement of Compliance

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2021

Statement of compliance [Abstract]

Statement of compliance

2.	Statement of compliance

These financial statements prepared in accordance with FRS 102 (“UK GAAP”) differ in certain significant respects from financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Details of the significant differences between US GAAP and UK GAAP are set out in note 20 to these financial statements.

2.	Statement of compliance

statements.

3.	Accounting policies

Basis of preparation

The financial statements have been prepared for the sole purpose of inclusion in the

S-4

filing registration statement on behalf of the Cartesian Growth Corporation under the Securities Exchange Act of 1933 regarding the business combination of Alvarium Investments Limited, Tiedemann Advisors, LLC and TIG Advisors.

Significant Accounting Policies

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Significant Accounting Policies

3.	Accounting policies

Basis of preparation

These interim unaudited condensed consolidated financial statements have been prepared for the sole purpose of inclusion in the

S-4

These interim unaudited Condensed Consolidated Financial Statements do not constitute statutory accounts within the meaning of section 435 of the Companies Act 2006. They have been prepared on the basis of the accounting policies as set out in the Group’s annual financial statements prepared for the purpose of inclusion in the filing registration statement for the year ended 31 December 2021. The interim unaudited Condensed Consolidated Financial Statements to 30 September 2022 have been prepared in accordance with FRS 104 ‘Interim Financial Reporting’.

The financial information for the interim accounts ended 30 September 2022 and 2021 has not been audited. Therefore, these interim accounts should be read in conjunction with the Group’s annual financial statements prepared for the purpose of inclusion in the filing registration statement for the year ended 31 December 2021.

These interim unaudited Condensed Consolidated Financial Statements were approved and authorised for issue by the Board acting through a duly authorised committee of the Board of Directors on 14 December 2022. The full-year accounts to 31 December 2021 prepared for the purposes of the filing registration statement were approved by the Board of Directors on 13 May 2022 and do not constitute the Company’s statutory accounts for that year. Statutory accounts for the year ended 31 December 2021 have been reported on by the company’s statutory auditor and delivered to the registrar of companies. The report of the statutory auditor was (i) unqualified, (ii) did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report, and (iii) did not contain a statement under section 498 (2) or (3) of the Companies Act 2006.

The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.

The financial statements are presented in UK pounds sterling, which is the functional currency of the Group.

Going concern

The Group has recorded a loss of £10m for the period to 30 September 2022 and is in a net current liability position. As at the balance sheet date, the Group had creditors due within one year of £91.7m, compared to current assets of £60.4m. The creditors due within one year include £39.8m of subordinated shareholder loans which are due on

7th January 2023

, and £10.4m of bank loans, of which £10.3m are due on 3rd February 2023.

On 17 October 2022, the Securities and Exchange Commission declared the registration statement for the proposed business combination with Cartesian announced on 20 September 2021 effective. As a result, the existing bank debt facility will become repayable when the transaction closes on 3 January 2023. The new Group is currently agreeing terms for a debt facility with BMO for $250m, which will be used to pay off the existing bank debt facility as well as the subordinated shareholder loans. This refinancing is yet to be completed and is subject to the transaction completing. The transaction close is pending shareholder approval and there are no other conditions to be met. The refinancing agreements are at an advanced stage and there are no barriers to these being finalised. In the event of the transaction not closing, the Directors would initiate discussions with the shareholders and bank to refinance the existing debt.

In addition, the directors do not anticipate any scenario in which the new change in control environment would change the regulatory capital requirement to a level that would impact the Group’s ability to comply. While there will be changes to the existing legal entity group structure post-acquisition, all existing business lines will continue to operate.

The Group currently meets its day to day working capital requirements from cash reserves and recurring revenue streams. The Group also has a bank facility which is subject to covenants. There was a breach of covenant during the period which has been waived by the borrowers due to an agreement reached that Alvarium will repay the full balance of the outstanding facility once the transaction has closed. As at 30 September 2022, the group had cash balances of £12.4m. The directors have prepared both base and sensitised cash flow forecasts which indicate that the Group will have sufficient funds to meet its liabilities as they fall due for the next 12 months, even under severe but plausible downside scenarios assuming that the existing debt is repaid by the new proposed debt facility as discussed above.

The base case assumes that transactional revenue in

Co-Investments

and Merchant banking will continue as projected in the latest rolling forecasts, with the addition of further recurring revenue from additional raises across the capital markets entities in 2023 . Under this base case, the normal recurring revenue streams and divisional cash flows continue to adequately cover the operating cost base. This does not account for any future adverse market movements which is outside management control.

Management have applied stress test scenarios to its forecasts factoring in a severe but plausible downside scenario whereby transactional revenue and new business streams, in particular across

Co-Investments

and Merchant Banking, were significantly reduced. Under this scenario, the diversified mix of recurrent income still provides sufficient coverage to meet any obligations as and when they fall due, assuming that the existing debt is repaid by the new proposed debt facility as discussed above.

After reviewing the Company’s forecasts and risk assessments under both current and post-merger scenarios, the Directors have formed a judgement at the time of approving the financial statements, that

there is a reasonable expectation that the Company has adequate resources to continue in operational existence for 12 months from the date of signing these accounts. For this reason, the Directors continue to adopt the going concern basis in preparing the financial statements.

However, the circumstances above regarding the pending closure of the transaction and the associated debt refinancing indicates the existence of a material uncertainty related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern and, therefore, that the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Application of accounting policies

Except as described below, the accounting policies applied in these interim financial statements for the following areas are the same as those applied in the Group’s consolidated financial statements as at and for the year ended 31 December 2021.

The following accounting policies are as per year ended 31 December 2021:

•

Consolidation

•

Non-controlling

interests

•

Revenue recognition

•

Foreign currencies

•

Operating leases

•

Goodwill

•

Intangible assets

•

Tangible assets

•

Investments

•

Investments in associates

•

Investments in joint ventures

•

Impairment of fixed assets

•

Finance leases

•

Government grants

•

Provisions

•

Financial instruments

•

Executory contracts

•

Employee benefits

•

Business combinations

•

Income tax

Other income

Other income includes income from the disposal of assets held at book value. This income is recognised at the point of sale and is measured as the difference between the carrying value and the proceeds from the disposal.

Share based payments

The Group issues share-based payments to certain employees, including directors. These share-based payments are recognised in accordance with section 26 of FRS 102.

Equity-settled share-based payments are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, together with a corresponding increase in equity, based upon the group’s estimate of the shares that will eventually vest, which involves making assumptions about the number of leavers over the vesting period. The vesting period is determined by the period of time the employees must remain in the Group’s employment before the rights to the shares transfer unconditionally to them.

Cash settled share-based payments are measured at fair value at the balance sheet date. The Group recognises a liability based on the estimate of options that will vest and the expected vesting date. Further information on the cash settled share-based payments in the period are detailed in note 17 of these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Historic group accounting acquirer

The significant judgements in relation to this area are the same as those applied in the Group’s consolidated financial statements as at and for the year ended 31 December 2021.

Equity Method Investees

party’s holding in the relevant equity method investee is unrelated to their employment by the Group member to which they are related and the relevant related parties are not bound by any contractual or other agreement to vote in the same way as Alvarium in connection with their holdings in the relevant equity method investee. Furthermore, in each instance, the equity method investee also has an unrelated third party member and, as a result of governance provisions in the relevant equity method agreement, the equity method investee is controlled jointly by all of its members and not by Alvarium alone.

Entities excluded from consolidation due to limited economic rights

In the case of

LJ Maple Limited

LJ Maple Circus Limited

LJ Maple Hamlet Limited

LJ Maple Hill Limited

LJ Maple Belgravia Limited

LJ Maple St Johns Wood Limited

LJ Maple Kew Limited

LJ Maple Chelsea Limited

LJ Maple Tofty Limited

, LJ Green Lanes Holdings Limited,

LJ Maple Kensington Limited

LJ Maple Nine Elms Limited

LJ Maple Duke Limited

and

LJ Maple Abbey Limited

, the group control 100% of the voting rights (aside from reserved matters) by virtue of their holding of a certain class of shares.

These entities have all issued a separate class of shares to third party investors and raised finance from them, which has then been invested, indirectly, in one or more underlying real estate transactions. These classes of shares do not have any voting rights but are entitled to the vast majority of the economic returns from the investment. The Group is entitled to ongoing fees from the entities for monitoring and reporting on the underlying real estate transactions and also, potentially, when the underlying real estate transactions are exited and funds returned to investors, to performance based fees which are calculated as a percentage of the total profits from each underlying deal which exceed a defined return to the third party investors. The Group is not an investor itself and does not otherwise participate in distributions from these entities.

While the Group controls the ordinary voting rights of these entities, these entities are excluded from consolidation because of severe long-term restrictions on the Group’s ability to actually exercise control over them. These restrictions are contained in the articles of association and shareholders’ agreements of the relevant entities and they relate to the substantive business activities (including the financial and operating policies) of the entities and include reserved matters contained in the shareholders’ agreements which are substantive as regards the activities of the entities and which require the approval of 75% of all shareholders (including the investor share class). As a result of these restrictions and the Group’s limited economic rights in the entities, the Group does not have the power to govern the financial and operating policies of the entities so as to obtain a benefit from the entities’ activities and, accordingly, the entities are not controlled by the Group for the purposes of FRS 102 and are excluded from consolidation on this basis. Each entity has instead been classified as a fixed asset investment at cost less impairment, with any distributions recognised upon receipt.

Limited economic rights over entities owned by the group

The group owns 100% of the share capital of LJ London Holdings Limited. The company was incorporated to invest in a property joint venture. To fund this, loan funding was obtained by LJ London Holdings Limited from a third party. Under the terms of the loan the vast majority of the profits from the venture revert to the lender, with the group entitled to a promote fee at conclusion. The group had no financial exposure to the venture.

The group considers the terms of the loan to demonstrate a severe long term restriction over rights to income from LJ London Holdings Limited. It has therefore been classified as a fixed asset investment at cost less impairment, with any dividends recognised upon receipt. In the absence of the terms of the loan, it would otherwise have been classified as a subsidiary.

Share based payments

In April 2022, the Group granted awards to key employees and directors as part of a Long Term Incentive Plan. The value of these awards is determined by the appreciation of the Group’s value between 1 January 2019 and 31 December 2021 – the service period for these awards - provided that a minimum target valuation is met.

The Group has needed to make several judgements in recognising a liability for cash-settled share-based payments at 30 September 2022. In particular, the Group has needed to determine the vesting date, assess the probability of payment, make a judgement for when the mutual understanding between the Group and members in the scheme was established and conclude on the conditional link to the proposed business combination with Cartesian Growth Corporation under the Securities Exchange Act of 1933 in relation to a public list on the US NASDAQ under Alvarium Tiedemann.

The initial Award Letters were sent to employees of the Group in April 2022 – the grant date - and communicated an intent for a potential future award that would become payable upon the close of the proposed business combination. These Award Letters stated that the vesting date would be at 31 May 2022 and on the discretion of the Committee. The Award Letters were designed to be

non-binding

and the terms of settlement were left to the discretion of the Committee to ensure that these could be finalised once the proposed business combination was certain, and that the Awards could be cancelled in the event of the transaction not closing. Accordingly, payment was not deemed probable on the date of the letters, and a mutual understanding between the Group and the members in the scheme had not yet been achieved.

The Group held a Townhall on 21 September 2022 where it was communicated to the members of the LTIP that payments would be made to settle the plan imminently, regardless of whether or not the business combination closes. The Group has determined that it was at this point that a mutual understanding between the Group and members in the scheme had been established, and that 21 September should therefore be used as the vesting date. A liability has therefore been recognised for these payments, as disclosed in note 14 of these financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Useful economic lives and impairment of intangible assets

The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are

re-assessed

annually.

The Group also considers whether intangible assets are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash flows. See note 10 for the carrying amount of the intangible assets.

Impairment tests for goodwill September 2022

The Group has assessed for any triggers during the period that may result in an impairment of goodwill. No material negative changes were noted since management performed a sensitivity analysis as of 31 December 2021. The Directors have also considered whether there were any triggers during the period to 30 September 2022 and have not noted any.

The analysis carried out for the year ended 31 December 2021 established that the discount rate would need to increase to more than 80% before an impairment of goodwill would be required.

Similarly the average annual growth rate for expected fund flows would need to reduce to more than

-30%

per annum before an impairment of goodwill would be required.

The Directors have considered recent market movements and macro-economic conditions in their assessment of the need for goodwill impairment as at 30 September 2022, and have concluded that the Group’s performance in the period and future outlook do not warrant an impairment given the significant headroom noted in the detailed analysis carried out for the year ended 31 December 2021.

Deferred tax assets in respect of tax losses

The group has material brought forward tax losses for which no deferred tax asset has been recognised. There is significant estimation uncertainty surrounding the timing of which these losses may be utilised in future. Management reviews forecasts in estimating whether sufficient future taxable profits are likely to arise to warrant recognition of an asset in respect of such losses. The Group’s policy is to only consider forecasts which have been finalised and approved as at the period end.

The financial information set out above does not constitute the Company’s statutory accounts for the years ended 31 December 2021, 2020 or 2019. These Consolidated financial statements were approved by the board of directors and authorised for issue on 13 May 2022.

The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group and company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.

The financial statements are presented in UK pounds sterling, which is the functional currency of the Group.

Going concern

Following the

COVID-19

Global Pandemic

(Covid-19),

the Board, Shareholders, Partners and Operations Committee continually monitored and discussed matters including cost and liquidity on a weekly basis at the height of his pandemic, successfully navigating an unprecedented period. Management remain focussed on navigating successfully through any further disruptions to normal activity.

The Group meets its day to day working capital requirements from cash reserves and recurring revenue streams. The Group also has a bank facility which is subject to covenants (see notes 16 and 17 & 30 for more information). As at 31 December 2021, the group had cash balances of £13m. The directors have prepared both base and sensitised cash flow forecasts which indicate that the Group will have sufficient funds to meet its liabilities as they fall due for the next 12 months, even under severe but plausible downside scenarios.

The base case assumes that transactional revenue in

Co-lnvestments

and Merchant banking will continue as forecast, with the addition of further recurring revenue from additional raises across the capital markets entities. In addition, Investment Advisory AUM revenue is forecast to grow by

2-3%

due to the implementation of new strategies from the office of the CIO. Under this base case, the normal recurring revenue streams and divisional cash flows continue to adequately cover the operating cost base and the

current bank debt facility. This does not account for adverse market movements which is outside management control.

Management have applied stress test scenarios to its forecasts factoring in a severe but plausible downside scenario whereby transactional revenue and new business streams, in particular across

Co-lnvestments

and Merchant Banking, were significantly

reduced. There was also a 5

% reduction in Investment Advisory revenues considered. Under this scenario, the diversified mix of recurrent income still provides sufficient coverage to meet any obligations as and when they fall due.

The Group is currently compliant with all debt facility covenants and projected to continue to meet these provisions. The bank loan is due for repayment at the maturity date in August 2022. Terms have been provided (for execution in due course) to extend the facility for a further six months to February 2023 under the original terms, in which time the business combination is expected to complete. In the event repayment is required in August 2022, the plausible downside forecasts indicate that the facility could be repaid in full if required.

Should the proposed business combination with Cartesian proceed, as announced on 20 September 2021, the existing bank debt facility would become repayable based on change of control reference in the facility agreement. However, this transaction would not proceed unless sufficient appropriate facilities were in place to enable the facility to be repaid in full, should repayment be needed.

After reviewing the Company’s forecasts and risk assessments under both current and postmerger scenarios, the Directors have formed a judgement at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for 12 months from the date of signing these accounts. For this reason, the Directors continue to adopt the going concern basis in preparing the

financial statements.

Consolidation

The Group consolidated financial statements include the financial statements of the Company and all of its subsidiary undertakings together with the Group’s share of the results of associates and joint ventures made up to 31 December 2021.

A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the Group owns less than 50

% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which gives it control of the financial and operating policies of that entity, the Group accounts for that entity as a subsidiary.

Where the Group controls more than

% of the voting powers of an entity but restrictions exist to entitlement of profit which would comprise a severe long term restriction, such entities are not consolidated. See the ‘significant judgement’ section on page 12 for more information.

Where a subsidiary has different accounting policies to the Group, adjustments are made to those subsidiary financial statements to apply the Group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the Group holds a long-term interest and where the Group has significant influence. The Group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Accounting for joint ventures and associates uses financial information provided by management of those entities. This is the best available information at the time of reporting and consolidated using the equity method appropriately in our Group results. Where information is received post

year-end

regarding conditions that existed at the

year-end,

this is treated as a type one adjusting event.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the Group control is accounted for as a business combination. Thereafter where the Group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the

non-controlling

interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

The Company historically held investments in two associates (Alvarium PO (Payments) Ltd and Alvarium Investment Management Ltd) where additional interests were subsequently purchased giving the company control and resulting in consolidation of a subsidiary undertaking. In accordance with FRS 102.A.3.21, and in order to give a true and fair view, goodwill was calculated as the sum of the goodwill arising on each purchase of shares in these entities, being the difference at the date of each purchase between the fair value of the consideration given and the fair value of the identifiable assets and liabilities attributable to the interest purchased. This represents a departure from the method set out in FRS 102, under which goodwill is calculated as the difference between the total acquisition cost of acquiring 100% of these entities and the fair value of the identifiable assets and liabilities of these entities on the date that they each became a subsidiary. The statutory method would not give a true and fair view because it would result in the group’s share of these entities’ retained reserves, during the period that it was an associate, being recharacterised as goodwill.

The effect of this departure at 31 December 2021, 31 December 2020, 31 December 2019 and 1 January 2019 is to:

•

decrease profit for the year by £34,266 (2020: £34,266

, 2019: £34,266)

•

increase the revaluation reserve by £133,722 (2020: £133,722) (1 Jan 2020 £133,722

) (1 Jan 2019: £133,722)

•

decrease retained profits by £

30,923

(2020: increase £3,343) (1 Jan 2020: increase 37,609

) (1 Jan 2019: £71,876); and

•

increase goodwill by £102,799 (2020: £137,065) (1 Jan 2020: £171,332

) (1 Jan 2019: £205,598)

All intra-Group transactions, balances, income and expenses are eliminated on consolidation. Adjustments are made to eliminate the profit or loss arising on transactions with associates to the extent of the Group’s interest in the entity.

Non-controlling

interests

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Judgements and key sources of estimation uncertainty

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Historic accounting acquirer

The Group was formed through a series of acquisitions commencing at the end of 2014 and completing in early 2015, through the combination of several existing entities with common shareholders and management under a newly formed company - LJ GP Limited (now Alvarium Investments Limited). This was previously accounted for as a business combination with four businesses with common shareholders being combined under LJ GP Limited as the accounting acquirer.

The consideration for this transaction was a mixture of cash, debt and equity. The combining entities were valued by management in line with comparative market multiples at that time. Asset management business was based on an EBITDA multiple whilst wealth management companies were valued on AUM. The valuation was underpinned by an unrelated third party investment into the group for a 20% stake under a new share issuance which settled in May 2015. The third party investment also triggered a

re-designation

of certain share classes with preferential income rights into a class of ordinary shares ranking pari passu in all respects.

Upon a review carried out as part of preparing the 2020 and 2019 special purpose financial statements for filing with the SEC, it was determined that a different entity, LJ Capital Limited, should have been treated as the acquirer in the business combination. This determination is on the basis that LJ Capital Limited was the largest of the combining companies and due to the number of their directors on the Boards of the new Group giving them the largest proportion of voting rights.

The determination of LJ Capital Limited as the accounting acquirer is a significant judgement which has a material impact on these financial statements and has led to a number of material changes on the accounting treatment of LJ Capital Limited Group and its underlying subsidiaries and minority holdings, which were previously fair valued as part of the business combination rather than brought in at historical amounts. The impact of this correction in acquirer has been disclosed in the in the consolidated financial statements previously filed with the SEC.

Equity method investees

There are certain of our joint venture and associates partners in equity method investees that, since the investment was entered into, have become related parties of the Group as a result of holding executive management positions in one or more Group members or subsidiary. An assessment was performed and determined that this does not give the Group control of the relevant equity method investee as each related party’s holding in the relevant equity method investee is unrelated to their employment by the Group member to which they are related and the relevant related parties are not bound by any contractual or other agreement to vote in the same way as Alvarium in connection with their holdings in the relevant equity method investee. Furthermore, in each instance, the equity method investee also has an unrelated third party member and, as a result of governance provisions in the relevant equity method agreement, the equity method investee is controlled jointly by all of its members and not by Alvarium alone.

Entities excluded from consolidation due to limited economic rights

In the case of LJ Maple Limited, LJ Maple Circus Limited, LJ Maple Hamlet Limited, LJ Maple Hill Limited, LJ Maple Belgravia Limited, LJ Maple St Johns Wood Limited, LJ Maple Kew Limited, LJ Maple Chelsea Limited, LJ Maple Tofty Limited, LJ Green Lanes Holdings Limited, LJ Maple Kensington Limited, LJ Maple Nine Elms Limited, LJ Maple Duke Limited and LJ Maple Abbey Limited, the group control 100% of the voting rights (aside from reserved matters) by virtue of their holding of a certain class of shares.

Each entity has instead been classified as a fixed asset investment at cost less impairment, with any distributions recognised upon receipt. Details concerning the financial performance and position of these entities can be found in note 13 of these financial statements.

Limited economic rights over entities owned by the group

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Useful economic lives and impairment of intangible assets

re-assessed

annually.

The group also considers whether intangible assets are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash flows. See note 11 for the carrying amount of the intangible assets, and note 3 for the useful economic lives for each class of asset.

Impairment tests for goodwill December 2021

The Group has determined that it has a single CGU in relation to asset management for the purposes of assessing the carrying value of goodwill. This determination is made on the basis that the Group’s structure is highly interconnected, with shared management, directors and clients. As a result, the Group is deemed to be the smallest identifiable group of assets that generates cash inflows that are largely independent.

In line with Section 27 of FRS 102, Impairment of Assets, a full impairment review was undertaken as at 31 December 2021. The recoverable amount within the fund management CGU was determined by assessing the

value-in-use

using long-term cash flow projections for the CGU.

Data for the explicit forecast period of 2022-2026 is based on the 2022 budget and forecasts for 2022-2026. Increases in operating costs have been taken into account and include assumed new business volumes. Cash

flows beyond the explicit forecast period are extrapolated using a long term terminal growth

rate of 3.0%.

To arrive at the net present value, cash flows have been discounted using a discount

rate of 12.5%.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

Management have performed a sensitivity analysis as of 31 December 2021 and established that the discount rate would need to increase to more than 95% before an impairment of goodwill would be required. The average annual growth rate for expected fund flows over the forecast period is 4.0% and would need to reduce to more than

-40%

per annum before an impairment of goodwill would be required.

Impairment tests for goodwill December 2020

In line with Section 27 of FRS 102, Impairment of Assets, a full impairment review was undertaken as at 31 December 2020. The recoverable amount within the fund management CGU was determined by assessing the

value-in-use

using long-term cash flow projections for the CGU.

Data for the explicit forecast period of 2021-2026 is based on the 2021 budget and forecasts for 2021-2026. Increases in operating costs have been taken into account and include assumed new business volumes. Cash flows beyond the explicit forecast period are extrapolated using a longterm terminal growth rate of 3.0%. To arrive at the net present value, cash flows have been discounted using a discount rate of 18.0%.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

Management have performed a sensitivity analysis as of 31 December 2020 and established that the discount rate would need to increase to more than 80% before an impairment of goodwill would be required.

The average annual growth rate for expected fund flows over the forecast period is 8.0% and would need to reduce to more than

-30%

per annum before an impairment of goodwill would be required.

Impairment tests for goodwill December 2019

In line with Section 27 of FRS 102, Impairment of Assets, a full impairment review was undertaken as at 31 December 2019. The recoverable amount within the fund management CGU was determined by assessing the

value-in-use

using long-term cash flow projections for the CGU.

Data for the explicit forecast period of 2020-2025 is based on the 2020 budget and forecasts for 2021-2025. Increases in operating costs have been taken into account and include assumed new business volumes. Cash

flows beyond the explicit forecast period are extrapolated using a longterm terminal growth rate of 3.0%. To arrive at the net present value, cash flows have been discounted using a discount rate of 18.0%.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

Management have performed a sensitivity analysis as of 31 December 2019 and established that the discount rate would need to increase to more than 60% before an impairment of goodwill would be required.

The average annual growth rate for expected fund flows over the forecast period is 8.0% and would need to reduce to more than

-24%

per annum before an impairment of goodwill would be required.

Impairment tests for equity method investees

The Group has considered whether there are any indications that its investments in joint ventures and associates may be impaired at 31 December 2021, and has noted one joint venture where impairment indicators exist. In line with Section 27 of FRS 102, Impairment of Assets, a detailed

value-in-use

calculation has therefore been produced for this asset.

Data for the explicit forecast period of 2022-2026 is based on the 2022 budget. Cash flows beyond the explicit forecast period are extrapolated using a long term terminal growth rate of 3.0%. To arrive at the net present value, cash flows have been discounted using a discount rate of 11.5%.

The overall

value-in-use

in this calculation is greater than the carrying amount for this joint venture, and hence no impairment charge has been recognised. The key assumptions used in this calculation were the discount rate and revenue growth rates.

Management have performed a sensitivity analysis as of 31 December 2021 and have established that the discount rate would need to increase by more than 100% before an impairment of this asset would be required. Similarly, reducing the terminal growth rate of 3% to 0% would still not result in an impairment to this asset.

Useful economic lives sensitivity

The tables below detail the impact of the amortisation charge reported in the event of a

5%-10%

increase or decrease in the useful economic lives of the Group’s intangible assets.

2021:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,429,870		2,293,872		—		5,723,742
Amortisation with -5% UEL		3,610,391		2,414,602		—		6,024,993
Amortisation with -10% UEL		3,810,968		2,548,747		—		6,359,715
Amortisation with +5% UEL		3,266,544		2,184,640		—		5,451,184
Amortisation with +10% UEL		3,118,065		2,085,338		—		5,203,403

2020:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,488,827		2,334,873		—		5,823,700
Amortisation with -5% UEL		3,672,451		2,457,761		—		6,130,212
Amortisation with -10% UEL		3,876,476		2,594,303		—		6,470,779
Amortisation with +5% UEL		3,322,693		2,223,689		—		5,546,382
Amortisation with +10% UEL		3,171,662		2,122,612		—		5,294,274

2019:


	Goodwill			Client lists			Brands			Total
	£			£			£			£
Current amortisation		(2,836,127	)		(2,315,165	)		(30,000	)		(5,181,291	)
Amortisation with -5% UEL		(2,985,397	)		(2,437,016	)		(31,579	)		(5,453,992	)
Amortisation with -10% UEL		(3,151,253	)		(2,572,405	)		(33,333	)		(5,756,991	)
Amortisation with +5% UEL		(2,701,074	)		(2,204,919	)		(28,571	)		(4,934,564	)
Amortisation with +10% UEL		(2,578,298	)		(2,104,695	)		(27,273	)		(4,710,266	)

Deferred tax assets in respect of tax losses

The group has material brought forward and carried forward tax losses in the United Kingdom and the United States of America. There is significant estimation uncertainty surrounding the timing of which these losses may be utilised in future. Management reviews forecasts in estimating whether sufficient future taxable profits are likely to arise to warrant recognition of an asset in respect of such losses. The Group’s policy is to only consider forecasts which have been finalised and approved as at the period end, which in this case are for the years ended 31 December 2022 and 2023. In the case of the United Kingdom, these forecasts indicate these losses are to be fully utilised in those periods.

Revenue recognition

Turnover comprises revenue (exclusive of Value Added Tax) recognised by the group in respect of services supplied.

Corporate finance engagements

Fees for annual or quarterly services are billed in advance. Turnover for the provision of annual or quarterly services is recognized in the profit and loss account on a pro rata basis as the service is delivered over the period from the date of the invoice or renewal. The resulting accrued or deferred income is included within debtors or creditors respectively. The service provided to clients is generally providing reporting on funds invested into the relevant deals. This would include corporate finance engagements, management support and office space.

Placement fees are recognised as invoiced at the point of transaction closing.

Interest and investment income

Interest income is recognised using the effective interest rate method.

Dividend income is recognised when the right to receive payment is established.

UK Investment advisory revenue

The revenue shown in the accounts represents amounts due to the group for services rendered in the year, exclusive of Value Added Tax. Consultancy fees are invoiced on a quarterly basis in arrears and therefore at any point in time there is a level of accrued income

pro-rata

to the services rendered.

The majority of Advisory fees are received from the Pershing Platform quarterly in arrears. At any point in time there is a level of accrued income

pro-rata

to the expected annual revenues from Pershing.

Overseas Investment advisory revenue

Portfolio management and performance fees generally consist of percentage fees based upon client’s portfolio size and performance and are billed to clients following the close of each calendar quarter. At the end of each month there is an income accrual provided for pro rata quarterly fees which are billed post quarter end. These fees are gross amounts with any related commissions payable presented in cost of sales.

Trust and fiduciary revenue

Invoices raised in advance for the provision of annual services are taken to the profit and loss account on a pro rata basis over the year from the date of the invoice or renewal. The resulting deferred income is included within creditors. Work in Progress is carried at 70% of recorded unbilled time at each month end. This is considered by management to be a reliable consistent estimate of the recoverable proportion of unbilled time at any point, based on retrospective reviews.

Private and family office revenue

Turnover represents amounts receivable for services net of VAT and trade discounts. Invoicing is completed monthly in arrears, with any resulting accrued income included in debtors at the year end.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. The services cover a clearly defined period of time with no uncertainty as to outcome, and therefore we have used the length of time elapsed as the main measure for determining the stage of completion.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The Group’s unrecognised deferred tax assets are disclosed in note 21 to the financial statements.

Foreign currencies

Functional and presentational currency

The Group financial statements are presented in pound sterling.

Foreign currency transactions

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and

non-monetary

items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at

period-end

exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

Foreign operations

The trading results of Group undertakings are translated into sterling at the average exchange rates for the year. The assets and liabilities of overseas undertakings, including goodwill and fair value adjustments arising on acquisition, are translated at the exchange rates ruling at the year end. Exchange adjustments arising from the retranslation of opening net investments and from the translation of the profits or losses at average rates are recognised in ‘Other comprehensive income’ and allocated to

non-controlling

interest as appropriate.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Subsidiaries, joint ventures and associates

-10

years straight line.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

The useful lives of the brands and licenses are based on the contractual agreements that underpin these or the period of expected use, whilst the useful lives of the customers lists depend on the nature of the customer relationships. These useful lives have been benchmarked to market data for entities of a similar nature as part of the PPA work carried out on the acquisition of these entities.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property improvements	-	Various - straight line over remaining term on property lease
Fixtures and fittings	-	Between 3 and 5 years straight line
Office equipment	-	Between 3 and 5 years straight line

Investments

Un-listed

fixed asset investments are initially recorded at cost and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. The Group also holds an unlisted convertible note investment at fair value, see note 13 for further detail.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate.

When the Group’s share of losses of an associate investment equals or exceeds the carrying amount of its investment, the Group stops recognising its share of further losses. The Group recognises its share of any subsequent profits only after its share of profits equals its share of losses not recognised.

Goodwill arising on acquisition of associates is included within the investment cost. This is amortised over 10 years and included in the share of profits/losses included in the income statement.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the joint venture.

When the Group’s share of losses of a joint venture investment equals or exceeds the carrying amount of its investment, the Group stops recognising its share of further losses. The Group recognises its share of any subsequent profits only after its share of profits equals its share of losses not recognised.

Goodwill arising on acquisition of joint ventures is included within the investment cost. This is amortised over 10 years and included in the share of profits/losses included in the income statement.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash flows that are largely independent of the cash flows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is

determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the Group recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Compound instruments

Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.

The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.

The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

Loans receivable

Loans receivable are measured initially at fair value and are measured subsequently at amortised cost using the effective interest method, less any impairment. An indicative interest rate is used to calculate the amortised cost of interest free related party loans. This is based on comparable interest rates on loans that the Group has given to other entities.

Executory contracts

Where the Group holds derivative options for

non-financial

instruments, these are treated as executory contracts and are therefore held off the balance sheet. See note 22 of these financial statements for more information.

Employee benefits

All employee benefits are categorised under cost of sales.

Defined contribution pension plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Share-based payments

Fair value has been determined with reference to recent transactions with external investors in the company’s shares.

Where the terms of an equity-settled transaction are modified, as a minimum an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the value of the transaction as a result of the modification, as measured at the date of modification.

Where an equity-settled transaction is cancelled, it is treated as if it had vested on the date of the cancellation, and any expense not yet recognised for the transaction is recognised immediately.

However, if a new transaction is substituted for the cancelled transaction and designated as a replacement transaction on the date that it is granted, the cancelled and new transactions are treated as if they were a modification of the original transaction, as described in the previous paragraph.

The group has

no-cash

settled arrangements.

Annual bonus plan

The Group operates an annual bonus plan for employees. An expense is recognised in the profit and loss account when the Group has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable estimate of the obligation can be made.

Short term benefits

Short term benefits, including holiday pay and other similar

non-monetary

benefits, are recognised as an expense in the period in which the service is received.

Business combinations

Business combinations are accounted for using the purchase method.

The cost of a business combination is measured as the aggregate of the fair values, at the acquisition date, of assets given, liabilities incurred or assumed, and equity instruments issued plus any costs directly attributable to the business combination.

Where control is achieved in stages, goodwill is calculated as the sum of the goodwill arising on each purchase of shares in these entities, being the difference at the date of each purchase between the fair value of the consideration given and the fair value of the identifiable assets and liabilities attributable to the interest purchased.

Where the business combination requires an adjustment to the cost contingent on future events, the estimated amount of that adjustment is included in the cost of the combination at the acquisition date at fair value. Where contingent consideration is estimated at acquisition and this estimate changes, any change to the consideration is treated as an adjustment to the goodwill.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values to the Group’s interest in the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised over its expected useful life. Where the Group is unable to make a reliable estimate of useful life, goodwill is amortised over a period not exceeding 10 years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. Reversals of impairment are recognised when the reasons for the impairment no longer apply.

Merger relief is applied where the Group issues equity shares in consideration for the shares of another company and secures at least a 90% equity holding in the other company. Where the criteria for merger relief are met, share premium is not recorded on the issue of these shares, and instead a merger reserve is used. This is a requirement of section 612 of the Companies Act 2006 when these criteria are met.

Impact of changes to accounting

FRS 102 was amended in December 2020 to deal with the financial reporting implications associated with the replacement of interest rate benchmarks as part of the international interest rate benchmark reforms. These amendments are referred to as Phase 2 of the interest rate benchmark reform related amendments to FRS 102. Application of the amendments is mandatory and effective for accounting periods beginning on or after 1 January 2021, with early application permitted. There is no effect of the interest rate benchmark reform on the current or prior years financial statements. The effect of the reform on the future financial statements is currently uncertain.

Significant Accounting Policies

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions

to Form 10-Q and Article

of Regulation S-X of the

SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The interim results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any future interim periods. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on

Form 10-K filed

with the SEC on March 18, 2022.

Emerging Growth Company Status

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a

non-binding

advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

to non-emerging growth

companies but any such election to

opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s unaudited condensed financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash of $463,990 and $551,258 as of September 30, 2022 and December 31, 2021, respectively. The Company did not have any cash equivalents as of September 30, 2022 and December 31, 2021.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $250,000. The Company has not experienced losses on this account.

Cash and Marketable Securities Held in Trust Account

At September 30, 2022 and December 31, 2021, substantially all of the assets held in the Trust Account were held in money market funds which invest in U.S. Treasury securities.

Convertible Debt

The Company accounts for promissory notes that feature conversion options in accordance with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 815, “Derivatives and Hedging” (“ASC 815”). ASC 815 requires companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments according to certain criteria. These criteria include circumstances in which (i) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (ii) a promissory note that embodies both the embedded derivative instrument and the host contract is not

re-measured

at fair value under otherwise applicable GAAP with changes in fair value reported in earnings as they occur and (iii) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

Warrant Liabilities

The Company evaluates the Warrants (which are discussed in Note 3, Note 4 and Note 9), in accordance with FASB ASC

Topic 815-40, “Derivatives

and Hedging, Contracts in Entity’s Own Equity”

(“ASC 815-40”)

and concluded that a provision in its warrant agreement related to certain tender or exchange offers precludes the Warrants from being accounted for as components of equity. As the Warrants meet the definition of a derivative as contemplated in

ASC 815-40, the

Warrants are recorded as derivative liabilities on the condensed balance

sheets and measured at fair value at inception (the date of the IPO) and at each reporting date in accordance with FASB ASC Topic 820, “Fair Value Measurement,” with changes in fair value recognized in the condensed statements of operations in the period of change.

Offering Costs Associated with the Initial Public Offering

The Company complies with the requirements of the FASB

ASC 340-10-S99-1. Offering costs

consisted of legal fees, accounting fees, underwriting fees and other costs incurred through the IPO that were directly related to the IPO. Offering costs are allocated to the separable financial instruments issued in the IPO based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities are expensed as incurred, presented

as non-operating expenses

in the condensed statements of operations. Offering costs associated with the Class A ordinary shares were charged to temporary equity upon the completion of the IPO.

Class A Ordinary Shares Subject to Possible Redemption

The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity” (ASC 480). Ordinary shares subject to mandatory redemption (if any) are classified as a liability instrument and measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. All of the 34,500,000 Class A ordinary shares contain a redemption feature which allows for the redemption of such Class A ordinary shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated memorandum and articles of association. In accordance with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in

ASC 480-10-S99, redemption

provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Accordingly, at September 30, 2022 and December 31, 2021, all Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit.

As of September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to redemption reflected on the condensed balance sheets are reconciled in the following table:


Gross Proceeds	$	345,000,000
Less:
Proceeds allocated to Public Warrants		(15,007,500	)
Class A ordinary shares issuance costs		(18,671,929	)
Plus:
Remeasurement of carrying value to redemption value		33,679,429
Interest earned on Trust Account		31,308

Class A ordinary shares subject to possible redemption at December 31, 2021	$	345,031,308
Interest earned on Trust Account		2,073,906

Class A ordinary shares subject to possible redemption at September 30, 2022	$	347,105,214

Income Taxes

The Company accounts for income taxes under FASB ASC Topic 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both (i) the expected impact of differences between the financial statement and tax basis of assets and liabilities and (ii) for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. Additionally, ASC 740 requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2022 and December 31, 2021, there were no unrecognized tax benefits, and no amounts were accrued for the payment of interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

There is currently no taxation imposed on income by the government of the Cayman Islands. In accordance with Cayman Islands income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Net (Loss) Income Per Share

The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net (loss) income per share is computed by dividing net (loss) income by the weighted average number of ordinary shares outstanding during the period. The Company has two classes of shares, Class A ordinary shares and Class B ordinary shares. Earnings and losses are shared pro rata between the two classes of shares. The Company has not considered the effect of the 20,400,000 Class A ordinary shares underlying the 11,500,000 Warrants and the 8,900,000 Private Warrants, in the calculation of diluted net (loss) income per share, since the exercise of the Warrants is contingent upon the occurrence of future events. As a result, diluted net (loss) income per ordinary share is the same as basic net (loss) income per ordinary share for the period presented.

The Company’s condensed statements of operations applies

the two-class method

in calculating net (loss) income per share. Basic and diluted net (loss) income per Class A ordinary share and Class B ordinary share is calculated by dividing net (loss) income attributable to the Company by the weighted average number of Class A ordinary shares and Class B ordinary shares outstanding, allocated proportionally to each class of shares.

Reconciliation of Net (Loss) Income per Share

The Company’s net (loss) income is adjusted for the portion of net (loss) income that is allocable to each class of shares. The allocable net (loss) income is calculated by multiplying net (loss) income by the ratio of weighted average number of shares outstanding attributable to Class A ordinary shares and Class B ordinary shares to the total weighted average number of shares outstanding for the period. Remeasurement of the carrying value of Class A ordinary shares to redemption value is excluded from net (loss) income per ordinary share because the redemption value approximates fair value.

Accordingly, basic and diluted (loss) income per ordinary share is calculated as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2022		2021			2022		2021
Class A ordinary shares subject to possible redemption
Numerator: Net income (loss) allocable to Class A ordinary shares subject to possible redemption
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of income (loss) to Class B ordinary shares		1,643,086		(1,172,749	)		3,575,439		(357,271	)

Proportionate share of net income (loss)	$	6,572,344	$	(4,690,997	)	$	14,301,756	$	(1,162,361	)

Denominator: Weighted Average Class A ordinary shares subject to possible redemption
Basic and diluted weighted average shares outstanding		34,500,000		34,500,000			34,500,000		27,296,703

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Class B ordinary shares
Numerator: Net income (loss) allocable to Class B ordinary shares
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of net income (loss) to Class A ordinary shares subject to possible redemption		6,572,344		(4,690,997	)		14,301,756		(1,162,361	)

Proportionate share of net (loss) income	$	1,643,086	$	(1,172,749	)	$	3,575,439	$	(357,271	)

Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,625,000		8,625,000			8,625,000		8,390,110

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Fair Value of Financial Instruments

The Company follows the guidance in FASB ASC Topic 820, “Fair Value Measurement,” for its financial assets and liabilities that

are re-measured and

reported at fair value at each reporting period,

and non-financial assets

and liabilities that

are re-measured and

reported at fair value at least annually.

inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:


Level 1 —		Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 —		Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

Level 3 —		Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

See Note 9 for additional information on assets and liabilities measured at fair value.

Recent Accounting Pronouncements

The Company’s management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the accompanying unaudited condensed financial statements.

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Emerging Growth Company Status

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash of $551,258 and 0 as of December 31, 2021 and December 31, 2020. The Company did not have any cash equivalents as of December 31, 2021 and December 31, 2020.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account.

Cash and Securities Held in Trust Account

At December 31, 2021, substantially all of the assets held in the Trust Account were held in money market funds which invest in U.S. Treasury securities.

Warrant Liabilities

The Company evaluated the Warrants (which are discussed in Note 3, Note 4 and Note 8) in accordance with ASC

815-40

815-40,

the Warrants are recorded as derivative liabilities on the balance sheet and measured at fair value at inception (the date of the IPO) and at each reporting date in accordance with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurement”, with changes in fair value recognized in the Statement of Operations in the period of change.

Offering Costs Associated with the Initial Public Offering

The Company complies with the requirements of the FASB ASC

340-10-S99-1. Offering

costs consisted of legal, accounting, underwriting fees and other costs incurred through the IPO that were directly related to the

IPO. Offering costs are allocated to the separable financial instruments issued in the IPO based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities are expensed as incurred, presented as

non-operating

expenses in the statement of operations. Offering costs associated with the Class A ordinary shares were charged to shareholders’ equity upon the completion of the IPO.

Ordinary Shares Subject to Possible Redemption

All of the 34,500,000 Class A ordinary shares sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated memorandum and articles of association. In accordance with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC

480-10-S99,

redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Accordingly, at December 31, 2021 all Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. At December 31, 2020, the Company had no Class A ordinary shares subject to possible redemption. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary share to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary share are affected by charges against additional paid in capital and accumulated deficit.

As of December 31, 2021, the ordinary shares subject to redemption reflected on the balance sheet are reconciled in the following table:


Gross proceeds from public issuance	$	345,000,000
Less:
Proceeds allocated to public warrants		(15,007,500	)
Class A ordinary shares issuance cost		(18,671,929	)
Add:
Accretion of carrying value to redemption value		33,679,429
Interest earned on Trust		31,308

Class A ordinary shares subject to redemption	$	345,031,308

Income Taxes

The Company accounts for income taxes under FASB ASC Topic 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2021, there were no unrecognized tax benefits, and no amounts were accrued for the payment of interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Net Income (Loss) Per Share

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the period. The Company has two classes of shares, Class A ordinary shares and Class B ordinary shares. Earnings and losses are shared pro rata between the two classes of shares. The Company has not considered the effect of the 20,400,000 ordinary shares underlying the 11,500,000 Warrants sold in the IPO and the 8,900,000 Private Warrants sold in the private placement, in the calculation of diluted loss per share, since the exercise of the warrants is contingent upon the occurrence of future events. As a result, diluted net income (loss) per ordinary share is the same as basic net income (loss) per ordinary share for the period presented.

The Company’s statement of operations applies the

two-class

method in calculating net income per share. Basic and diluted net income per ordinary share for Class A ordinary shares and Class B ordinary shares is calculated by dividing net income attributable to the Company by the weighted average number of Class A ordinary shares and Class B ordinary shares outstanding, allocated proportionally to each class of shares.

Reconciliation of Net Loss per Share

The Company’s net income is adjusted for the portion of net income that is allocable to each class of ordinary shares. The allocable net income is calculated by multiplying net income by the ratio of weighted average number of shares outstanding attributable to Class A ordinary shares and Class B ordinary shares to the total weighted average number of shares outstanding for the period. Accretion of the carrying value of Class A ordinary shares to redemption value is excluded from net income per ordinary share because the redemption value approximates fair value.

Accordingly, basic and diluted income per ordinary share is calculated as follows:


	For the Year Ended December 31, 2021			For the period from December 18, 2020 (inception) through December 31, 2020
Class A Ordinary Shares
Numerator: Net loss allocable to Class A ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class B ordinary shares		(232,904	)		—

Proportionate share of net loss	$	(802,476	)	$	(7,948	)

Denominator: Weighted Average Class A ordinary shares
Basic and diluted weighted average shares outstanding		29,112,329			—

Basic and diluted net loss per share	$	(0.03	)	$	0.00

Class B Ordinary Shares
Numerator: Net loss allocable to Class B ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class A ordinary shares		(802,476	)		(7,948	)

Proportionate share of net loss	$	(232,904	)	$	—
Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,449,315			—

Basic and diluted net loss per share	$	(0.03	)	$	—

Fair Value of Financial Instruments

The Company follows the guidance in FASB ASC Topic 820, “Fair Value Measurement,” for its financial assets and liabilities that are

re-measured

and reported at fair value at each reporting period, and

non-financial

assets and liabilities that are

re-measured

and reported at fair value at least annually.

The fair value of certain of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:


Level 1 –		Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 –		Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

Level 3 –		Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

See Note 8 for additional information on assets and liabilities measured at fair value.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

Recent Accounting Pronouncements

In August 2020, the Financial Accounting Standards Board’s issued ASU

2020-06,

“Debt-Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic

815-40):

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU

2020-06”),

which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. ASU

2020-06

also removes certain settlement conditions that are required for equity-linked contracts to qualify for scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Company adopted ASU

2020-06

on January 1, 2021. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows.

Initial Public Offering

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Initial Public Offering

Note 3 — Initial Public Offering

Public Units

On February 26, 2021, upon the consummation of the IPO, the Company sold 34,500,000 Units, which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 4,500,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share,

and one-third of

one redeemable Warrant to purchase one Class A ordinary share.

Public Warrants

Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as discussed herein. The Public Warrants will become exercisable on the later of 12 months from the closing of the IPO or 30 days after the completion of its initial Business Combination and will expire five years after the completion of the Company’s initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described adjacent to “Redemption of warrants when the price per ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, respectively.

The Company has agreed that as soon as practicable, but in no event later than fifteen (15) business days after the closing of the initial Business Combination, it will use its commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the Warrants. The Company will use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required to file or maintain in effect a registration statement or register or qualify the shares under applicable blue sky laws to the extent an exemption is available.

Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00

Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except as described herein with respect to the Private Warrants):

•

in whole and not in part;

•

at a price of $0.01 per Warrant;

•

upon not less than 30 days’ prior written notice of redemption

(the “30-day redemption

period”) to each Warrant holder;

•

if, and only if, the last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, share dividends, reorganizations. and recapitalizations), for any 20 trading days within

a 30-trading day period

ending on the third business day prior to the notice of redemption to the Warrant holders; and

•

if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying the Warrants.

Note 3 — Initial Public Offering

Public Units

On February 26, 2021, the Company sold 34,500,000 Units, which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 4,500,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share, and

one-third

of one redeemable warrant to purchase one Class A ordinary share.

Public Warrants

Each whole Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as discussed herein. The Warrants will become exercisable on the later of 12 months from the closing of the IPO or 30 days after the completion of its initial Business Combination and will expire five years after the completion of the Company’s initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

In addition, if (i) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (iii) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described adjacent to “Redemption of warrants when the price per ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, respectively.

The Company has agreed that as soon as practicable, but in no event later than fifteen (15) business days after the closing of the initial Business Combination, it will use its commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required to file or maintain in effect a registration statement or register or qualify the shares under applicable blue sky laws to the extent an exemption is available.

Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00

Once the Public Warrants become exercisable, the Company may redeem the outstanding Public Warrants (except as described herein with respect to the Private Warrants):

•

in whole and not in part;

•

at a price of $0.01 per Warrant;

•

upon not less than 30 days’ prior written notice of redemption (the

“30-day

redemption period”) to each warrant holder;

•

if, and only if, the last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations. and recapitalizations), for any 20 trading days within a

30-trading day

period ending on the third business day prior to the notice of redemption to the warrant holders; and

•

if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying the Warrants.

Private Placement	9 Months Ended	12 Months Ended
Private Placement	Sep. 30, 2022	Dec. 31, 2021
Cartesian Growth Corp [Member]
Private Placement (Details) [Line Items]
Private Placement	Note 4 — Private Placement Simultaneously with the closing of the IPO, the Sponsor purchased an aggregate of 8,900,000 Private Warrants at a price of $1.00 per Private Warrant, for an aggregate purchase price of $8,900,000, in a private placement. A portion of the proceeds from the sale of the Private Warrants was added to the proceeds from the IPO held in the Trust Account. The Private Warrants are identical to the Public Warrants, except that the Private Warrants, so long as they are held by the Sponsor or its permitted transferees, (i) will not be redeemable by the Company, (ii) may not (including the Class A ordinary shares issuable upon exercise of these Private Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the Company’s initial Business Combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to certain registration rights. If the Private Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants. The initial shareholders, officers, directors and independent directors have agreed to waive their redemption rights with respect to any Class A ordinary shares they may acquire during or after the IPO, in connection with the completion of the initial Business Combination. If the Company does not complete the initial Business Combination within the applicable time period, the proceeds of the sale of the Private Warrants will be used to fund the redemption of the Class A ordinary shares.	Note 4 — Private Placement Simultaneously with the closing of the IPO, the Sponsor purchased an aggregate of 8,900,000 Private Warrants at a price of $1.00 per Private Warrant, for an aggregate purchase price of $8,900,000, in a private placement. A portion of the proceeds from the private placement was added to the proceeds from the IPO held in the Trust Account. The Private Warrants are identical to the warrants sold in the IPO except that the Private Warrants, so long as they are held by the Sponsor or its permitted transferees, (i) will not be redeemable by the Company, (ii) may not (including the Class A ordinary shares issuable upon exercise of these Private Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the Company’s initial Business Combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to certain registration rights. If the Private Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the warrants included in the units being sold in the IPO. The initial shareholders, officers, directors and independent directors have agreed to waive their redemption rights with respect to any Public Shares they may acquire during or after the IPO, in connection with the completion of the initial Business Combination. If the Company does not complete the initial Business Combination within the applicable time period, the proceeds of the sale of the Private Warrants will be used to fund the redemption of the Public Shares.

Turnover

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Turnover

Turnover arises from:


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Rendering of services		63,997,183		49,820,243

Turnover

Turnover arises from:


	2021		2020		2019
	£		£		£
Rendering of services		75,164,498		52,263,050		47,070,105

The turnover is attributable to the one principal activity of the Group. An analysis of turnover by the geographical markets that substantially differ from each other is given

below:


	2021		2020		2019
	£		£		£
United Kingdom		53,053,810		32,371,445		27,832,611
Switzerland		5,550,023		5,535,726		6,115,067
Portugal		1,283,637		913,623		—
USA		8,367,509		7,339,809		7,386,159
Hong Kong		5,206,522		4,863,268		4,603,666
Spain		335,633		347,149		347,348
France		1,367,364		784,189		785,254
Australia		—		107,841		—

		75,164,498		52,263,050		47,070,105

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Investments, Debt and Equity Securities [Abstract]

Gains/(losses) on investments

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Gains/(losses) on investments

5.	Gains/(losses) on investments


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Gain on disposal of other investments		2,108		—

		2,108		—

5.	(Losses)/gains on investments


	2021			2020			2019
	£			£			£
(Loss)/gain on disposal and restructuring of interests in joint ventures and associates		(452,591	)		(57,208	)		140,235
Gain on disposal of other investments		—			222,222			—

		(452,591	)		165,014			140,235

The loss reported in 2021 includes a transaction of

£148,277 between equity holders in the group headed by Alvarium Investment (NZ) Limited which has had the impact of diluting the share of net assets of the investee held by the Group. The balance of £304,314 relates to the disposal of the group’s interests in Alvarium Media Finance.

The loss in the 2020 relates

to the Group reducing its holding in Alvarium Investment (NZ) Limited from

% to

The gain reported on disposal and restructuring of interests in joint ventures and associates in 2019 related to an investment in an associate. The investee issued new shares to a third party which diluted the Company’s shareholding from 35.28% to 30.00%. The gain represents the Company’s share in the associate’s net asset uplift resulting from the new share issue, which were issued at a premium.

Operating loss / profit

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Operating Income (Loss) [Abstract]

Operating loss / profit

6.	Operating profit

Operating profit or loss is stated after charging/(crediting):


	Period from			Period from
	1 Jan 22 to			1 Jan 21 to
	30 Sep 22			30 Sep 21
	£			£
Depreciation of tangible assets		368,697			417,606
Impairment of trade debtors		1,326,832			170,345
Equity-settled share-based payments expense		—			(1,333	)
Cash-settled share-based payments expense		10,442,728			—
Foreign exchange differences		(1,607,419	)		(57,806	)

6.	Operating profit/(loss)

Operating profit/(loss) is stated after charging/(crediting):


	2021			2020		2019
	£			£		£
Depreciation of tangible assets		552,293			536,319		438,768
Impairment of trade debtors		277,682			439,829		537,976
Equity-settled share-based payments (credit)/expense		(1,333	)		7,296		8,818
Foreign exchange differences		278,611			451,027		(122,097	)

Gain on Disposal of Investment in Joint Venture

9 Months Ended

Sep. 30, 2022

Gain Loss On Disposal Of Investments In Joint Venture [Abstract]

Gain on disposal of investment in joint venture

7.	Gain on disposal of investment in joint venture


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Gain on disposal of interests in JV		4,660,853		—

The gain reported in the current year relates to the disposal of the group’s 46% interest in Alvarium Investment (NZ) Limited and 23% interests in Templeton C&M Holdco Limited and NZ PropCo Holdings Limited. On 30 September 2022 the Group fully disposed of its investments in these joint ventures in return for cash consideration of £7.3m. £2.7m of this consideration is deferred, with £692k being receivable on 30 September 2023 and £1,975k being receivable in ten equal instalments over the next 5 years. The remaining £4.6m of consideration is included in accrued income at 30 September 2022 and was received on 3 October 2022.

Non-current

consideration receivable has been recognised at present value using a discount rate of 8%.

Income From Other Fixed Asset Investments

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Income Loss From Other Fixed Assets Investments [Abstract]

Income from other fixed asset investments

8.	Income from other fixed asset investments


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Income from disposal of asset held at book value		—		530,170
Other income		10,370		17,619

Total income from other fixed asset investments		10,370		547,789

7.	Income from other fixed asset investments


	2021		2020		2019
	£		£		£
Income from disposal of asset held at book value		530,170		—		—
Dividends from other fixed asset investments		17,619		3,158		62,995

		547,789		3,158		62,995

Interest Receivable

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Interest Receivable

8.	Interest receivable


	2021		2020		2019
	£		£		£
Interest on loans and receivables		44,002		100,694		31,735
Interest on cash and cash equivalents		313		1,700		2,588
Interest receivable from joint ventures and associates		159,755		146,690		107,922

		204,070		249,084		142,245

The total income recognised in respect of financial assets measured at amortised cost is £

204,070

(2020

: £

249,084

, 2019: £142,245).

The group does not have any financial assets measured at fair value through profit or loss

Interest Payable

12 Months Ended

Dec. 31, 2021

Interest Expense [Abstract]

Interest Payable

9.	Interest payable


	2021		2020		2019
	£		£		£
Interest on banks loans and overdrafts		626,214		631,866		655,819
Interest on obligations under finance leases and hire purchase contracts		19,683		37,226		53,488
Interest on shareholder loan facility		844,053		—		—
Other interest payable and similar charges		321,520		60,496		104,150

		1,811,470		729,588		813,457

The total expense recognised in relation to financial liabilities measured at amortised cost is £1,811,470 (2020

: £

729,588

, 2019: £813,457).

The group does not have any financial liabilities measured at fair value through profit or loss.

Taxation on Ordinary Activities

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxation on Ordinary Activities

9.	Taxation on ordinary activities

Major components of tax expense/(income)


	Period from			Period from
	1 Jan 22 to			1 Jan 21 to
	30 Sep 22			30 Sep 21
	£			£
Current tax:
UK current tax expense		—			521,217

Total UK current tax		—			521,217

Foreign current tax expense		294,578			265,691
Adjustments in respect of prior periods		26,709			—

Total foreign tax		321,287			265,691

Total current tax		321,287			786,908

Deferred tax:
Origination and reversal of timing differences		(720,671	)		75,762
Impact of change in tax rate		(218,318	)		—
Recognition of prior period timing differences		(36,468	)		(1,475,928	)

Total deferred tax		(975,457	)		(1,400,166	)

Taxation on ordinary activities		(654,170	)		(613,258	)

10.	Taxation on ordinary activities

Major components of tax (income)/expense


	2021			2020			2019
	£			£			£
Current tax:
UK current tax expense		303,357			686,159			550,281
Adjustments in respect of prior periods		380			(18,420	)		—

Total UK current tax		303,737			667,739			550,281
Foreign current tax expense		517,781			362,736			284,363
Adjustments in respect of prior periods		(20,344	)		30,727			(2,098	)

Total foreign tax		497,437			393,463			282,265

Total current tax		801,174			1,061,202			832,546

Deferred tax:
Origination and reversal of timing differences		1,407,915			(142,158	)		1,081
Impact of change in tax rate		(156,063	)		58,184			(322,603	)
Recognition of DTAs for previously unrecognised losses		(2,589,487	)		(1,292,391	)		—

Total deferred tax		(1,337,635	)		(1,376,365	)		(321,522	)

Taxation on ordinary activities		(536,461	)		(315,163	)		511,024

Reconciliation of tax income

The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2020: higher than, 2019: higher than) the standard rate of corporation tax in the UK

of 19% (2020: 19

%, 2019: 19%).


	2021			2020			2019
	£			£			£
Profit/(loss) on ordinary activities before taxation		1,411,413			(3,692,354	)		(3,222,070	)

Profit/(loss) on ordinary activities by rate of tax		268,168			(701,547	)		(612,193	)
Adjustment to tax charge in respect of prior periods		(19,964	)		12,307			(2,098	)
Effect of expenses not deductible for tax purposes		1,672,344			369,791			—
Effect of capital allowances and depreciation		52,978			3,298			420,326
Effect of revenue exempt from tax		(3	)		(125,015	)		(15,960	)
Effect of different overseas tax rates on some earnings		(193,301	)		(218,185	)		(3,893	)
Utilisation of tax losses		(422,151	)		(95,239	)		(304,019	)
Unused tax losses		402,001			1,235,991			(110,440	)
Gain/(loss) on disposal not taxable		28,173			(99,993	)		913,825
Amortisation arising on consolidation		651,675			662,877			(26,736	)
Recognition of DTAs for previously unrecognised losses		(2,589,487	)		(1,292,391	)		538,864
Effect of change in UK tax rates		(156,063	)		—			(322,603	)
Specific tax allowance in US subsidiary		—			(98,199	)		(98,829	)
Income from associates and JV’s not taxable in group		(230,831	)		31,142			134,780

Tax on profit/(loss)		(536,461	)		(315,163	)		511,024

On 3 March 2021 the UK government announced an intention to increase the UK corporation tax rate to 25% with effect from 1 April 2023. The impact of this on the Group’s deferred tax assets and liabilities is included

above.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
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-Paragraph 2
-Subparagraph (a)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Intangible Assets

10.	Intangible assets


	Goodwill		Patents, trademarks and licences		Client lists		Total
	£		£		£		£
Cost
At 1 January 2022		33,914,523		524,848		30,238,028		64,677,399
Additions		—		—		40,000,000		40,000,000
Translation gains/(losses)		561,187		—		1,146,275		1,707,462

At 30 September 2022		34,475,710		524,848		71,384,303		106,384,861

Amortisation
At 1 January 2022		19,074,971		524,848		11,435,493		31,035,312
Charge for the period		2,617,635		—		3,217,301		5,834,936

At 30 September 2022		21,692,606		524,848		14,652,794		36,870,248

Carrying amount
At 30 September 2022		12,783,104		—		56,731,509		69,514,613

At 31 December 2021		14,839,552		—		18,802,535		33,642,087

£40 million, through an intermediary. The acquisition was financed via a loan from Alvarium shareholders. This acquisition has been treated as an asset acquisition for accounting and reporting purposes and has resulted in the recognition of a £40m intangible asset for the customer relationship with Secure Income REIT plc, as disclosed above. This transaction has been treated as an asset acquisition because Prestbury Investment Partners Limited is not deemed to be a business for the purposes of this transaction, it is an entity which has been fully absorbed into LXI REIT Advisors Limited. Additionally, the Group has not acquired employees or processes from Prestbury Investment Partners Limited.

The acquisition is treated as a

non-cash

transaction for the purposes of the Statement of Cash Flows as the transaction comprised an acquisition of assets by assuming directly related liabilities. The transaction was physically settled by loan finance proceeds provided directly to Prestbury Investment Partners Limited by Alvarium shareholders.

This intangible asset is being amortised over the life of the contract, which is 6 years from acquisition.

11.	Intangible assets


	Goodwill			Patents, trademarks and licences		Client lists			Total
	£			£		£			£
Cost
At 1 January 2021		34,163,414			524,848		30,287,194			64,975,456
Additions		—			—		—			—
Translation gains/(losses)		(248,891	)		—		(49,166	)		(298,057	)

At 31 December 2021		33,914,523			524,848		30,238,028			64,677,399

Amortisation
At 1 January 2021		15,645,101			524,848		9,141,621			25,311,570
Charge for the year		3,429,870			—		2,293,872			5,723,742

At 31 December 2021		19,074,971			524,848		11,435,493			31,035,312

Carrying amount
At 31 December 2021		14,839,552			—		18,802,535			33,642,087

At 31 December 2020		18,518,313			—		21,145,573			39,663,886


	Goodwill			Patents, trademarks and licences		Client lists		Total
	£			£		£		£
Cost
At 1 January 2020		33,447,865			524,848		30,152,831		64,125,544
Additions		—			—		—		—
Disposals		(37,645	)		—		—		(37,645	)
Acquisitions through business combinations		453,488			—		—		453,488
Translation gains/(losses)		299,706			—		134,363		434,069

At 31 December 2020		34,163,414			524,848		30,287,194		64,975,456

Amortisation
At 1 January 2020		12,156,274			524,848		6,806,748		19,487,870
Charge for the year		3,488,827			—		2,334,873		5,823,700

At 31 December 2020		15,645,101			524,848		9,141,621		25,311,570

Carrying amount
At 31 December 2020		18,518,313			—		21,145,573		39,663,886

At 31 December 2019		21,291,591			—		23,346,083		44,637,674

Tangible Assets

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Tangible assets

11.	Tangible assets


	Land and buildings		Fixtures and fittings		Equipment			Total
	£		£		£			£
Cost or valuation
At 1 January 2022		893,306		704,325		1,783,885			3,381,516
Additions		942,300		18,884		84,276			1,045,460
Disposals		—		—		(66,757	)		(66,757	)
Translation gains/(losses)		21,475		29,765		148,468			199,708

At 30 September 2022		1,857,081		752,974		1,949,872			4,559,927

Depreciation
At 1 January 2022		725,991		555,008		1,342,365			2,623,364
Charge for the period		148,587		39,072		181,040			368,699
Disposals		—		—		(61,513	)		(61,513	)
Translation (gains)/losses		7,349		23,078		112,435			142,862

At 30 September 2022		881,927		617,158		1,574,327			3,073,412

Carrying amount
At 30 September 2022		975,154		135,816		375,545			1,486,515

At 31 December 2021		167,315		149,317		441,520			758,152

12.	Tangible assets


	Land and buildings		Fixtures and fittings			Equipment			Total
	£		£			£			£
Cost
At 1 January 2021		887,072		685,643			1,652,988			3,225,703
Additions		5,208		26,869			383,151			415,228
Disposals		—		(8,501	)		(228,879	)		(237,380	)
Translation gains/(losses)		1,026		314			(23,375	)		(22,035	)

At 31 December 2021		893,306		704,325			1,783,885			3,381,516

Depreciation
At 1 January 2021		509,023		477,337			1,323,930			2,310,290
Charge for the year		216,599		86,126			249,568			552,293
Disposals		—		(8,501	)		(210,903	)		(219,404	)
Translation gains/(losses)		369		46			(20,230	)		(19,815	)

At 31 December 2021		725,991		555,008			1,342,365			2,623,364

Carrying amount
At 31 December 2021		167,315		149,317			441,520			758,152

At 31 December 2020		378,049		208,306			329,058			915,413


	Land and buildings			Fixtures and fittings			Equipment			Total
	£			£			£			£
Cost
At 1 January 2020		868,001			605,633			1,232,267			2,705,901
Additions		22,102			81,008			278,412			381,522
Disposals		—			—			(32,900	)		(32,900	)
Acquisitions through bus. combs.		—			—			156,113			156,113
Disposals through bus. combs.		—			—			(2,241	)		(2,241	)
Translation gains/(losses)		(3,031	)		(998	)		21,337			17,308

At 31 December 2020		887,072			685,643			1,652,988			3,225,703

Depreciation
At 1 January 2020		294,406			358,305			1,016,261			1,668,972
Charge for the year		215,527			118,970			201,822			536,319
Disposals		—			—			(32,900	)		(32,900	)
Disposals through bus. combs.		—			—			(1,519	)		(1,519	)
Translation (gains)/losses		(910	)		62			16,020			15,172
Acquisitions through bus. combs.		—			—			124,246			124,246

At 31 December 2020		509,023			477,337			1,323,930			2,310,290

Carrying amount
At 31 December 2020		378,049			208,306			329,058			915,413

At 31 December 2019		573,595			247,328			216,006			1,036,929

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases:


	Land and buildings		Fixtures and fittings		Equipment		Total
	£		£		£		£
At 31 December 2021		165,505		—		—		165,505
At 31 December 2020		248,258		25,988		12,737		286,983

Investments

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Investments in and Advances to Affiliates [Abstract]

Investments

12.	Investments


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2022		2,960,255			10,265,495			2,245,098			15,470,848
Additions		—			7,452			39,327			46,779
Disposals		(54,614	)		(2,683,398	)		(19,134	)		(2,757,146	)
Revaluations		—			—			(92,440	)		(92,440	)
Transfer		—			8,020			(8,020	)		—
Share of profit or loss		578,126			66,649						644,775
Dividends received		(1,625,101	)		(907,280	)					(2,532,381	)
Movements in equity		—			26,460						26,460
Other movements		—			—			49,477			49,477
Gains/(losses) on translation		105,848			46,582			364,419			516,849

At 30 September 2022		1,964,514			6,829,980			2,578,727			11,373,221

Impairment
At 1 January 2022 and 30 September 2022		231,008			169,418			272,929			673,355

Carrying amount
At 30 September 2022		1,733,506			6,660,562			2,305,798			10,699,866

At 31 December 2021		2,729,247			10,096,077			1,972,169			14,797,493

The share of profit or loss from associates and joint ventures includes amortisation relating to the acquisition of those associates and joint ventures totalling £53,933 and £481,405 respectively.

Subsidiaries, associates and other investments

Details of the new investments since the most recent

year-end

financial statements in which the Group and the parent Company have an interest of 20% or more are as follows:

Country of

incorporation

Class of

Percentage

of shares

held

Subsidiary undertakings

Alvarium Education Reit Limited

(1)

United Kingdom

Ordinary

100

Alvarium Willow GP

(2)

Isle of Man

Ordinary

100

Alvarium RE Public Markets Limited

(1)

United Kingdom

Ordinary

100

Amalfi Investment Partners Limited

(1)

United Kingdom

Ordinary

100

Joint ventures

Alvarium 64 Advisory LLP

(1)

United Kingdom

Partnership interest

Registered addresses

The subsidiaries, joint ventures and associates disclosed above are registered at the following addresses:

(1)

10 Old Burlington Street, London, W1S 3AG

(2)

Commerce House, 1 Bowring Road, Ramsey, Isle of Man, IM8 2LQ

13.	Investments


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2021		2,902,373			9,482,998			198,061			12,583,432
Additions		—			6,208			2,220,050			2,226,258
Disposals		(10,206	)		—			(85,121	)		(95,327	)
Revaluations		—			—			(87,892	)		(87,892	)
Share of profit or loss		1,410,850			2,898,485			—			4,309,335
Dividends received		(1,312,561	)		(1,266,860	)		—			(2,579,421	)
Movements in equity		—			(655,944	)		—			(655,944	)
Gains/(losses) on translation		(30,201	)		(199,392	)		—			(229,593	)

At 31 December 2021		2,960,255			10,265,495			2,245,098			15,470,848

Impairment
At 1 January 2021		231,008			169,418			30,429			430,855
Impairment losses		—			—			242,500			242,500

At 31 December 2021		231,008			169,418			272,929			673,355

Carrying amount
At 31 December 2021		2,729,247			10,096,077			1,972,169			14,797,493


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2020		3,014,578			9,081,205			121,298			12,217,081
Additions		250,734			90			78,904			329,728
Disposals		—			(57,180	)		(2,141	)		(59,321	)
Share of profit or loss		459,284			1,925,289			—			2,384,573
Dividends received		(902,844	)		(1,445,140	)		—			(2,347,984	)
Movements in equity		—			(112,050	)		—			(112,050	)
Gains on translation		80,621			90,784			—			171,405

At 31 December 2020		2,902,373			9,482,998			198,061			12,583,432


Impairment
At 1 January 2020		—			169,418			30,429			199,847
Impairment charge		231,008			—			—			231,008

At 31 December 2020		231,008			169,418			30,429			430,855

Carrying amount
At 31 December 2020		2,671,365			9,313,580			167,632			12,152,577

The share of profit or loss from associates and joint ventures includes amortisation relating to the acquisition of those associates and joint ventures totalling

68,321

(2020: £

73,526

, 2019: £49,114) and £

641,873

(

2020:

641,873

2019: £641,873).

The ‘other investments’ figure above includes a convertible note in an unlisted entity which was purchased in December 2021. This investment is held at a fair value of £1,607,301 which was the cost of the investment. The fair value of the note is driven by the credit quality of the underlying business and its ability to deliver a coupon, along with the potential outcome of any business sale in the next 36 months from the year end date, as the note has various equity upside features.

Subsidiaries, associates and other investments

Details of the investments in which the Group and the parent Company have an interest of 20% or more are as follows:


Sub s idiary undertakings	Country of incorporation		Class of share			Percentage of shares held
Sub s idiary undertakings	Country of incorporation		Class of share			2021		2020		2019
Alvarium RE Limited (1)		United Kingdom		Ordinary			100		100		100
Alvarium Investment Management Limited (1)		United Kingdom		Ordinary			75		75		75
				Ordinary	*		25		25		25
Alvarium PO (Payments) Limited*(1)		United Kingdom		Ordinary	*		100		100		100
LJ GP Carry Sarl(6)		Luxembourg		Ordinary			100		100		100
Alvarium Investment Advisors (UK) Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Investments Advisors (USA) Inc.(3)		USA		Ordinary			100		100		100
Alvarium RE (US) LLC.(3)		USA		Ordinary			100		100		0
Alvarium Investments Advisors (Suisse) SA(5)		Switzerland		Ordinary			100		100		100
Alvarium Investments Advisors (Hong Kong) Limited(23)		Hong Kong		Ordinary			100		100		100
Alvarium Investments Advisors (Portugal) Limited		Portugal		Ordinary			100		100		0
LJ GP International Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Trust and Fiduciary Holdings Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Group Holdings Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Management (Suisse) SA*(5)		Switzerland		Ordinary			100		100		100
LJ Management (IOM) Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Capital (IOM) Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Luxembourg SA*(6)		Luxembourg		Ordinary LLP			100		100		100
Alvarium Investment Managers (UK) LLP*(1)		United Kingdom		Interest			98		98		98
Alvarium PO Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Private Client Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Pradera Holdings Limited*(1)		United Kingdom		Ordinary			100		100		100
LJ Capital (IOM) Hadley Limited*(7)		Isle of Man		Ordinary			100		100		100
Alvarium Investment Management (US) Holdings Corp(4)		USA		Ordinary			100		100		100
LJ Sports and Entertainment LLC*(4)		USA		Ordinary			100		100		100


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
Alvarium Investment Managers LLC*(4)		USA		Partnership interest		100		100		100
Alvarium Fund Managers (UK) Limited*(1)		United Kingdom		Ordinary		100		100		0
LJ Capital (HPGL) Limited*(1)		United Kingdom		Ordinary A and B		100		100		100
Alvarium Cl (US) LLC(4)		USA		Partnership interest		100		100		0
Alvarium MB (US) BD LLC(4)		USA		Partnership interest		100		100		100
Alvarium Cl Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium Cl Advisors (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Home REIT Advisors Limited*(1)		United Kingdom		Ordinary		100		100		0
Alvarium Compass GP Limited*(7)		Isle of Man		Ordinary		100		100		100
Alvarium Group Operations Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium Investment Advisors (Singapore) Pte. Limited(29)		Singapore		Ordinary		100		100		0
Alvarium MB Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium MB (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Securities Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Investments Advisors (France) SAS*(2)		France		Ordinary		100		100		0
LJ Pankow I Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Pankow II Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		100
Puffin Agencies Limited*(9)		Gibraltar		Ordinary		100		100		100
Clambake Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Clambake Inc.* (8)		Marshall Islands		Ordinary		100		100		100
Dubois Services Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Cellar Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Management (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Skye Services Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Cellar lnc.*(10)		Turks and Caicos		Ordinary		100		100		100
LJ Capital Partners Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Triptych Holdings (Gibraltar) Limited*(9)		Gibraltar		Ordinary		100		100		100
LJ Skye Trustees Limited*(7)		Isle of Man		Ordinary		100		100		100
Alvarium Management (IOM) Limited		Isle of Man		Ordinary		100		100		0
Waterstreet One Limited*(7)		Isle of Man		Ordinary		100		100		100
Waterstreet Two Limited*(7)		Isle of Man		Ordinary		100		100		100
Park Limited*(7)		Isle of Man		Ordinary		100		100		100
Lake Limited*(7)		Isle of Man		Ordinary		100		100		100
Harbour Limited*(7)		Isle of Man		Ordinary		100		100		100
Stone Limited*(7)		Isle of Man		Ordinary		100		100		100
Whitebridge Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ QG Bow Limited*(7)		Isle of Man		Ordinary		100		100		100
CF I Feeder GP Limited*(25)		Cayman Islands		Ordinary		100		100		100
KF I Feeder GP Limited*(25)		Cayman Islands		Ordinary		100		100		100
LJ Ardstone Spain S.L.*(26)		Spain		Ordinary		70		70		70


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
LJ Cresco Holdco Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Directors (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
LJ Management Nominees (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
LJ UK Cities Carry LP Inc.* (7)		Isle of Man		Partnership interest		65		65		65
LJ Cresco GP Holdings Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Capital (IOM) T4 Limited*(7)		Isle of Man		Ordinary		100		100		100
Loire Services Limited*(7)		Isle of Man		Ordinary		100		100		100
Southwood Limited*(7)		Isle of Man		Ordinary		100		100		100
Mooragh (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Whitebridge (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Station 2 GP Limited*(19)		Isle of man		Ordinary		100		100		0
LJ Fusion Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		0
Alvarium Goodmayes Limited*(1)		United Kingdom		Ordinary		100		100		0
Alvarium Streatham Limited*(1)		United Kingdom		Ordinary		100		100		0
VO Feeder GP*(25)		Cayman Islands		Ordinary		100		100		0
Alvarium Cl (US) LLC(3)		USA		Partnership interest		100		0		0
LXI REIT Advisors Limited*(1)		United Kingdom		Ordinary		100		59
Alvarium Social Housing Advisors Limited*(1)		United Kingdom		Ordinary		100		76.4		0
Alvarium Penge Limited*(1)		United Kingdom		Ordinary		100		0		0
LJ Administration (UK) Limited*(1)		United Kingdom		Ordinary		0		0		100
Alvarium MB (US) LLC(4)		USA		Partnership interest		0		0		100
LJ Skye 2 (PTC) Limited*(19)		British Virgin Islands		Ordinary		0		0		100
Ecne Holdings Limited*(10)		Turks and Caicos		Ordinary		0		0		100
LJ Advisors Singapore Pte. Limited(29)		Singapore		Ordinary		0		0		100
Iskander SAS*(2)		France		Ordinary		0		0		100

Other holdings (refer to note 3 for accounting treatment)	Country of incorporation		Class of share		Percentage of shares held
	Country of incorporation		Class of share		2021		2020		2019
LJ Capital (Woody) Limited*		United Kingdom		A Shares		80		80		80
				B Shares		16		16		16
LJ Capital (RL) Limited*		British Virgin Islands		A Shares Ordinary		100		100		100
LJ London Holdings Limited		Isle of Man		shares		100		100		100
LJ Maple Limited*		Guernsey		A Shares		100		100		100
LJ Greenwich Sari*		Luxembourg		A Shares		0.19		0.19		0.19
				B Shares		100		100		100
LJ Maple Belgravia Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Circus Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Hamlet Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Hill Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple St. Johns Wood Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Kew Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Kensington Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Chelsea Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Tofty Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Duke Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Abbey Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Nine Elms Limited*		British Virgin Islands		A Shares		100		100		100


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
LJ Green Lanes Holdings Limited*		Isle of Man British Virgin		A Shares		100		100		100
LJ T4 GP Limited*		Islands		A Shares		100		100		100
PMD Finance Sari		Luxembourg		A Shares		1.57		1.57		60

Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share			2021		2020		2019
Queensgate Investments LLP*(13)		United Kingdom		LLP Interest		30		30		50
Queensgate Investments II GP LLP*(12)		United Kingdom		LLP Interest		30		30		30
Queensgate Investment Management Limited*(13)		United Kingdom		Ordinary		30		30		30
Queensgate Hospitality Management Limited*(31)		United Kingdom		Ordinary		30		30		30
				A Shares		100		100		100
Cellar Holdings Limited		Ireland		Ordinary Partnership		50		50		50
Queensgate Mayfair Carry LP*(7)		Isle of Man		Interest Partnership		50		50		50
Queensgate Carry Partner SCS		Luxembourg		Interest		29.1		29.1		29.1
Queensgate Investments I Sarl*(16)		Luxembourg		Ordinary Shares		37.5		37.5		37.5
Queensgate Mayfair Carry GP Ltd*(7)		Isle of Man		Ordinary Shares		50		50		50
Queensgate Mayfair Co-Invest GP Ltd*(7)		Isle of Man		Ordinary Shares Partnership		33.33		33.33		33.33
Queensgate Investments II Carry GP LLP*(21)		United Kingdom		Interest Partnership		16.67		16.67		33.33
Queensgate Fusion GP LLP*(2i)		United Kingdom		Interest		16.67		16.67		0
Queensgate Carry Partner GP Coop SA*(16)		Luxembourg		Ordinary Shares Partnership		50		50		50
Queensgate Investments II Carry LP*(21)		United Kingdom		Interest Partnership		24		24		24
Queensgate Bow Co-Invest Carry LP*(21)		United Kingdom		Interest		25.5		25.5		25.5
Queensgate Bow Co-Invest Carry GP LLP*(21)		United Kingdom		LLP Interest		33.33		33.33		33.33
Queensgate Bow GP LLP*(14)		United Kingdom		LLP interest Partnership		16.67		16.67		16.67
Gem Carry GP LLP*(21)		United Kingdom		Interest Partnership		50		50		0
Gem Carry LP*(21)		United Kingdom		Interest		25		25		0
Queensgate Investments II AIV GP LLP*(12)		United Kingdom		LLP Interest Partnership		16.67		16.67		0


Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share		2021		2020		2019
Queensgate Fusion Co-Invest Carry LP*(21)		United Kingdom		interest Partnership		25.5		25.5		25.5
Queensgate Fusion Co-Invest Carry GP LLP*(21)		United Kingdom		interest		25		25		25
Alvarium Capital Partners Limited*(1)		United Kingdom		Ordinary Shares		30		30		35
Alvarium Investment Managers (Suisse) SA*(30)		Switzerland		Ordinary Shares		30		30		30
NZ Propco Holdings Limited* (35)		New Zealand		Ordinary Shares Partnership		23		23		0
Urban Spaces Carry LP*(22)		Guernsey		interest		25		25		0
Cresco Pankow 1 SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Cresco Terra 1 New SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Cresco Station 1 SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Pradera European Retails Parks Carry LP*(36)		United Kingdom		Partnership interest		30		30		0
Templeton C&M Holdco Limited*(35)		New Zealand		Ordinary		23		23		0
Queensgate Investments II AIV GP LLP(12)		United Kingdom		Partnership interest		0		0		16.67
Albacore SA*(30)		Switzerland		Ordinary Shares		0		0		30

Joint ventures

Osprey Equity Partners Limited*(1)		United Kingdom		Ordinary		50		50		50
CRE S.a r.l*(17)		Luxembourg		Ordinary		33.33		33.33		33.33
Cresco Urban Yurt Sarl*(i8)		Luxembourg		Ordinary		33.33		33.33		33.33
Cresco Urban Yurt S.L.P.*(18)		Luxembourg		Partnership interest		33.33		33.33		33.33
Cresco Capital Advisors LLP*(1)		United Kingdom		LLP Interest		33.33		33.33		33.33
Cresco Capital Group Fund I GP Limited*(22)		Guernsey		Ordinary		33.33		33.33		33.33
Cresco Immobilien Verwaltungs Gmbh*(27)		Germany		Ordinary		33.33		33.33		33.33
Cresco Terra Holdings Sarl*(17)		Luxembourg		Ordinary Shares		30		30		30
Osprey Aldgate Advisors Limited*(1)		United Kingdom		Ordinary		50		50		50
Kuno Investments Limited*(20)		British Virgin Islands		Ordinary		49.9		49.9		49.9


Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share		2021		2020		2019
Alvarium Investment (NZ) Limited*(28)		New Zealand		Ordinary		46		46		50
Cresco Capital Urban Yurt Holdings 2 Sarl*(17)		Luxembourg		Ordinary		33.33		33.33		33.33
Alvarium Investments (AUS) Pty Limited*(33)		Australia		Ordinary		50		50		100
HPGL Holdings Limited*(24)		Hong Kong		Ordinary		50		50		50
Hadley Property Group Holdings Limited*(15)		United Kingdom		Ordinary		35		35		35
Alvarium Kalrock LLP*(1)		United Kingdom		Membership interest		40		40		40
Bluestar Advisors Limited*(1)		United Kingdom		Ordinary		40		40		0
Alvarium Bluestar Diamond Limited*(7)		Isle of Man		Ordinary		40		40		0
Alvarium Media Finance, LLC*(34)		United States		Membership Interest		50		50		0
Alvarium Osesam SAS*(2)		France		Ordinary		50		50		0
Pointwise Partners Limited*(1)		United Kingdom		Ordinary		50		50		0
Alvarium Core Partners LLP*(1)		United Kingdom		Membership interest		40		40		40
Casteel Capital LLP*(1)		United Kingdom		Membership Interest		50		50		50
Alvarium Guardian LLP*(1)		United Kingdom		Ordinary		50		0		0
Cresco Terra 2 S.C.A.(17)		Luxembourg		Partnership interest		0		0		30
LJ Management (Mauritius) Limited*(32)		Mauritius		Ordinary		0		0		50

Registered addresses

The subsidiaries, joint ventures and associates disclosed above are registered at the following addresses:

(1)	10 Old Burlington Street, London, W1S 3AG

(2)	35 Avenue Franklin D. Roosevelt, 75008, Paris

(3)	111 Brickell Avenue, Suite 2802, Miami, Florida, 33131

(4)	251 Little Falls Drive, Wilmington, DE 19808 New Castle County

(5)	8 Rue Saint Leger, Geneva 1205, Switzerland

(6)	6A, An Ditert L-8076 Bertrange, Luxembourg

(7)	Commerce House, 1 Bowring Road, Ramsey, Isle of Man, IM8 2LQ

(8)	Trust Company Complex, Ajeltake Road, Ajeltake Island, Marshall Islands

(9)	Suite 16, Watergardens 5, Waterport Wharf, Gibraltar

(10)	Britannic House, Providenciales, Turks and Caicos Islands

(11)	C/o Pitcher Partners, Level 13, 664 Collins Street, Docklands, VIC 3008

(12)	The Scalpel, 18 th Floor, 52 Lime Street, London, England, EC3M 7AF

(13)	8 Hill Street, London, W1J 5NG

(14)	Asticus Building, 2 nd Floor, 21 Palmer Street, London, England, SW1H 0AD

(15)	3 rd Floor, 16 Garrick Street, Garrick Street, London, United Kingdom, WC2E 9BA

(16)	1, Rue Jean-Pierre Brasseur, L-1258 Luxembourg

(17)	6, rue d’ Arion, L- 8399 Luxembourg Luxembourg

(18)	89e Parc d’Activité Luxembourg Capellan, Luxembourg

(19)	3rd Floor, Yamraj Building, Market Square, P.O. Box 3175, Road Town, Tortola, British Virgin Islands

(20)	Equity Trust (BVI) Limited, PO Box 438, Palm Grove House, Road Town Tortola, BVI

(21)	1 Exchange Crescent, Conference Square, Edinburgh, EH3 8UL

(22)	1 Royal Plaza Avenue, St Peter Port, Guernsey

(23)	Suite 3801, One Exchange Square, 8 Connaught Place, Central, Hong Kong

(24)	22F South China Building, 1-3 Wyndham Street, Central, Hong Kong

(25)	Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman, KY1-9008, Cayman Islands

(26)	RB De Catulunya, Num 86, P.1. PTA, Barcelona, 08008

(27)	Rudi-Dutschke-Strasse 26, 10969 Berlin, Germany

(28)	Zurich House, Level 9, 21 Queen Street, Auckland, 1010

(29)	c/o Abogado Pte Ltd, 8 Marina Boulevard, 05-02, Marina Bay Financial Centre Tower 1, Singapore 018981

(30)	Via Nassa 29, 6900 Lugano, Switzerland

(31)	97 Cromwell Road, London, England, SW7 4DN

(32)	6th Floor, Ken Lee Building, 20 Edith Cavell Street, Port Loius, Mauritius

(33)	Level 13, 664 Collins Street, Docklands VIC 3008

(34)	9000 W Sunset Boulevard, Penthouse, West Hollywood, CA 90069

(35)	19 Mackelvie Street, Grey Lynn, Auckland, 1021 , New Zealand

(36)	50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ

*	denotes investments not held directly by the parent Company

The below table represents the financial results of other holdings, for which the Group has not recorded the financial results in its consolidated financial statements. This is explained in detail in the ‘Entities excluded from consolidation due to limited economic rights’ section within note 3 to these financial statements:


	Capital and reserves						Profit/(loss) for the year
	2021			2020			2021			2020
	£			£			£			£
Subsidiary undertakings
LJ London Holdings Limited		—			1,133			(1,133	)		18,853
LJ Maple Limited*		(101,370	)		(74,866	)		(26,504	)		(28,240	)
LJ Maple Chelsea Limited*		380,115			391,228			(11,113	)		(9,166	)
LJ Maple Hamlet Limited*		41,389			(98,403	)		139,792			(28,935	)
LJ Maple Circus Limited*		(110,193	)		(101,918	)		(8,275	)		(7,751	)
LJ Maple Belgravia*		(41,308	)		(28,547	)		(12,761	)		(8,395	)
LJ Maple Tofty Limited*		(165,417	)		(157,361	)		(8,056	)		(7,332	)
LJ Maple St Johns Wood Limited*		(153,722	)		(179,249	)		(9,246	)		(41,655	)
LJ Maple Kew Limited*		(37,370	)		(29,833	)		(7,537	)		(6,361	)
LJ Maple Kensington Limited		(89,901	)		(85,916	)		(9,056	)		(11,370	)
LJ Maple Hill Limited*		139,861			129,574			10,287			28,262
LJ Maple Nine Elms Limited*		(621,591	)		(510,079	)		(111,512	)		(218,079	)
LJ Maple Duke Limited*		(224,513	)		(295,398	)		70,885			(30,862	)
LJ Maple Abbey Limited*		(172,889	)		(161,742	)		(11,147	)		(7,021	)
LJ T4 GP Limited*		25,536,278			25,529,573			6,705			866,508

*	denotes investments not held directly by the parent company

Debtors

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Receivables, Net, Current [Abstract]

Debtors

13.

Debtors


	30 Sep 22		31 Dec 21
	£		£
Trade debtors		9,732,164		8,911,840
Amounts owed by the groups associates and joint ventures		5,569,209		5,771,802
Deferred tax asset		5,218,041		4,104,324
Prepayments and accrued income		18,893,658		13,929,657
Corporation tax repayable		53,261		—
Other debtors		8,525,058		4,285,775

		47,991,391		37,003,398

14.

Debtors


	2021 £		2020 £
Trade debtors		8,911,840		5,821,677
Amounts owed by the Group’s associates and joint ventures		5,771,802		4,669,533
Deferred tax asset		4,104,324		2,770,219
Prepayments and accrued income		13,929,657		11,187,743
Corporation tax repayable		—		12,557
Deferred consideration receivable		—		—
Other debtors		4,285,775		4,594,370

		37,003,398		29,056,099

All debtors are due within one year.

Amounts due from the groups associates and joint ventures

The group has provided various working capital loans to a number of its associates and joint ventures. These have generally been used to fund the activities of the investees while they are in a start up phase. These loans have a variety of terms in respect of interest rates and repayment terms. Any interest accruing on these loans are added to the balances disclosed above.

Other current assets

12 Months Ended

Dec. 31, 2021

Other Current Assets [Abstract]

Other current assets

15.	Other current assets


	2021 £		2020 £
Other investments		4,254		4,940

Creditors: amounts falling due within one year

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Accounts Payable and Accrued Liabilities, Current [Abstract]

Creditors: amounts falling due within one year

14.	Creditors: amounts falling due within one year


	30 Sep 22		31 Dec 21
	£		£
Subordinated shareholder loan		39,767,149		—
Bank loans and overdrafts		10,373,499		10,323,187
Deferred consideration payable on acquisition		—		179,122
Trade creditors		4,380,595		2,175,401
Amounts owed to undertakings in which the company has a participating interest		827,158		749,005
Accruals and deferred income		19,579,527		23,950,275
Corporation tax		1,597,124		452,484
Social security and other taxes		2,578,099		1,001,918
Liability for cash-settled share-based payments		10,761,130		—
Obligations under finance leases and hire purchase contracts		—		127,174
Other creditors		1,814,169		1,945,286

		91,678,450		40,903,852

The shareholder loans attract interest at 25% and are repayable on 7th January 2023. There is an option to convert the shareholder loan to shares in the Group at an option price based on the Group’s latest valuation.

16.	Creditors: amounts falling due within one year


	2021		2020
	£		£
Bank loans and overdrafts		10,323,187		68,394
Deferred consideration payable on acquisition		179,122		877,492
Trade creditors		2,175,401		1,827,030
Amounts owed to the Group’s associates and joint ventures		749,005		219,998
Accruals and deferred income		23,950,275		9,598,521
Corporation tax		452,484		811,054
Social security and other taxes		1,001,918		1,705,021
Obligations under finance leases and hire purchase contracts		127,174		240,336
Other creditors		1,945,286		1,319,322

		40,903,852		16,667,168

Refer to note 18 for further details of the deferred consideration payable on acquisition.

The bank loan as at 31 December 2021, accrues interest at LIBOR plus

4.75

% (2020 and 2019: LIBOR plus 4.75%). It is due for repayment at the maturity date

in August 2022. The undrawn portion of the

facility

(£4.75m at the period end) attracts interest at 1.9%. The interest rate switched to a risk free benchmark (SONIA) on the cessation date for LIBOR which occurred on 31 December 2021. Accrued interest is payable monthly in arrears.

Creditors: amounts falling due after more than one year

12 Months Ended

Dec. 31, 2021

Accounts Payable and Accrued Liabilities, Noncurrent [Abstract]

Creditors: amounts falling due after more than one year

17.	Creditors: amounts falling due after more than one year


	2021 £		2020 £
Bank loans and overdrafts		—		8,750,000
Deferred consideration payable on acquisition		—		180,531
Obligations under finance leases and hire purchase contracts		—		127,174

		—		9,057,705

As at 31 December 2021, all

non-current

liabilities in 2020 are now current liabilities and disclosed in note 16.

The bank loan as at 31 December 2020, accrued interest at LIBOR plus 4.75% (2019: LIBOR plus 4.75%), due for repayment at the maturity date in August 2022. The undrawn portion of the facility (£6.25m at 31 December 2020) attracts interest at 1.9%. The interest rate switched to a risk free benchmark (SONIA) on the cessation date for LIBOR which occurred on 31 December 2021.

Deferred consideration payable on acquisition

12 Months Ended

Dec. 31, 2021

Disclosure Of Deferred Consideration Payable On Acquisition [Abstract]

Deferred consideration payable on acquisition

18.	Deferred consideration payable on acquisition

Details regarding the deferred consideration payable on acquisition are given below:


						Alvarium
	Iskander SAS			Albacore SA		Investment Managers (UK) LLP		Total
	£			£		£		£
Brought forward at 1 January 2021		1,058,023			—		—		1,058,023
Payments made		(859,107	)		—		—		(859,107	)
Interest		25,798			—		—		25,798
Foreign exchange variances		(45,592	)		—		—		(45,592	)

Carried forward at 31 December 2021		179,122			—		—		179,122


							Alvarium
	Iskander SAS			Albacore SA			Investment Managers (UK) LLP			Total
	£			£			£			£
Brought forward at 1 January 2020		993,017			411,439			422,192			1,826,648
Additions/(reversals)		(37,645	)		19,725			100,647			82,727
Payments made		—			(468,817	)		(530,264	)		(999,081	)
Interest		46,179			5,484			7,425			59,088
Foreign exchange variances		56,472			32,169			—			88,641

Carried forward at 31 December 2020		1,058,023			—			—			1,058,023

Alvarium Investment Managers (UK) LLP

Following

the acquisition of Alvarium Investment Managers (UK) LLP in March

2015

, the final deferred consideration instalment was settled in March

2020

. The amount due for payment in March

2020

was £

530,263

. This had historically been discounted using a discount rate of

9.75

During the year discount of £nil

(2020:

7,425

, 2019: £45,744) has been released to the income statement as an interest charge.

The estimates concerning the amount payable were also revised in line with the final payment calculations, resulting in the recognition of an additional £nil

(2020:

£100,646

, 2019: £111,242) liability due for payment.

The liability had been settled in full at 31 December 2020.

Iskander SAS

Following the acquisition of Iskander SAS in March 2019, deferred consideration was due in various instalments, the last of which was a fixed amount of EU

R215,803

paid in March 2022.

A downward adjustment of £NIL (2020

£37,646, EUR50,000

, 2019: EURNIL

) was made to the consideration during the year, and payments of EUR1,000,000 (2020

: EURNIL, 2019:

EURNIL) were made during the year and translated to a GBP equivalent of £859,107 (2020

: £NIL, 2019:

£NIL).

The remaining amount outstanding has been historically discounted using a discount rate of 5.50% (being the prevailing rate of interest on the group’s bank facility at the date of acquisition) to a present value of EUR183,781 (2020

EUR1,083,692) and translated to a GBP equivalent of £158,010 (2020

£931,650).

During

the year discount totalling £25,798 (2020

£46,179

, 2019: £40,935

) was released to the income statement, and a foreign exchange gain of £45,592 (2020

loss - £56,472

, 2019: gain - £18,414

) also recognised in the income statement.

Closing liabilities of £179,122 (2020

£877,492) and £NIL (2020

£180,531) are included in creditors falling due within one year and more than one year respectively.

Albacore SA

The group acquired a 30% share in Albacore SA during 2019. Deferred consideration of CHF 536,125 was estimated to be due in March 2020. During 2020 this was revised upwards to CHF570,880 and settled in full.

This had been discounted using a discount rate of 5.50% to a present value of CHF508,175 and translated to a GBP equivalent of £391,839.

During the year discount totalling £nil (2020

£5,484

, 2019: £16,430

) was released to the income statement, and a foreign exchange loss of £nil (2020

£32,169

, 2019: £3,170

) also recognised in the income statement.

The liability had been settled in full at 31 December 2020.

Obligations Under Finance Leases

12 Months Ended

Dec. 31, 2021

Lessee Disclosure [Abstract]

Obligations under finance leases

19.	Obligations under finance leases

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:


	2021			2020
	£			£
Not later than 1 year		130,009			260,018
Later than 1 year and not later than 5 years		—			130,009

		130,009			390,027
Less: future finance charges		(2,835	)		(22,517	)

Present value of minimum lease payments		127,174			367,510

Provisions

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Disclosure Of Provisions [Abstract]

Provisions

15.	Provisions


	Deferred tax (note 16)
	£
At 1 January 2022		1,958,233
Additions		(4,560	)
Charge against provision		(136,304	)
Foreign exchange difference		236,860

At 30 September 2022		2,054,229

20.	Provisions


	Deferred tax (note 21) £
At 1 January 2021		1,978,716
Additions		39,876
Charge against provision		(57,020	)
Foreign exchange difference		(3,339	)

At 31 December 2021		1,958,233


	Deferred tax (note 21) £
At 1 January 2020		2,098,969
Additions		1,527
Charge against provision		(129,076	)
Foreign exchange difference		7,296

At 31 December 2020		1,978,716


	Deferred tax (note 21) £
At 1 January 2019		2,771,200
Charge against provision		(609,442	)
Foreign exchange difference		(62,789	)

At 31 December 2019		2,098,969

Deferred Tax

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Components of Deferred Tax Assets and Liabilities [Abstract]

Deferred tax

16.	Deferred tax

The deferred tax included in the statement of financial position is as follows:


	30 Sep 22			31 Dec 21
	£			£
Included in debtors (note 13)		5,218,041			4,104,324
Included in provisions (note 15)		(2,054,229	)		(1,958,233	)

		3,163,812			2,146,091

The deferred tax account consists of the tax effect of timing differences in respect of:


	30 Sep 22			31 Dec 21
	£			£
Accelerated capital allowances		(35,748	)		(41,829	)
Unused tax losses		3,916,736			3,512,706
Business combinations		(2,016,653	)		(1,916,404	)
Corporate interest restriction		320,882			—
Accrued expenses not yet tax deductible		614,631			197,887
Specific allowance in US subsidiary		363,964			393,731

		3,163,812			2,146,091

Unrecognised deferred tax

The Group has the following unrecognised deferred tax assets and liabilities:


	30 Sep 22		31 Dec 21
	£		£
Unused tax losses		2,544,105		2,018,188
Accrued expenses not yet tax deductible		229,796		115,352

		2,773,901		2,133,540

21.	Deferred tax

The deferred tax included in the statement of financial position is as follows:


	2021 £			2020 £
Included in debtors (note 14)		4,104,324			2,770,219
Included in provisions (note 20)		(1,958,233	)		(1,978,716	)

		2,146,091			791,503

Unused tax losses

The Group has recognised carried forward deferred tax assets amounting to £2,853,572 (

2020:

£1,777,150) relating to unused UK corporation tax losses of £13,595,618 (

2020:

£9,353,421), which are forecast to be realised during the years ending 31 Dec 2022 and 2023 and will result in an estimated UK tax saving of £2,853,572 (2020

£1,777,150

). The deferred tax assets amounting to £1,777,150 as at 31 December 2020 were forecasted to be realised during the years ending 31 Dec 2021 and 31 Dec 2022.

The impact of the change in the rate of UK corporation tax t

o 25% from 1 April 2023 (announced March 2021) has been factored into the asset based on the forecast realisation date.

The Group has recognised carried forward deferred tax assets amounting to £53,610 (2020

£123,807) relating to unused Swiss corporation tax losses of CHF472,567 (2020

CHF1,071,407), which when realised will result in a Swiss tax saving of CHF66,112 (2020

CHF149,890).

The Group has recognised carried forward deferred tax assets amounting to £605,524 (2020

£781,007) relating to unused US corporation tax losses of $3,232,320 (2020

$4,687,500), which when realised will result in a US tax saving of $819,393 (2020

$1,067,637).

Specific allowance in US subsidiary

The Group

also has recognised a deferred tax asset in respect of some tax goodwill arising in a US subsidiary which is being amortised through to 2024. The amortisation charge, which is not recognised in the accounts, is a tax deductible expense and hence will result in a future tax deduction.

Business combinations

The Group has carried forward deferred tax liabilities amounting to £1,916,404 (2020

£1,976,805) in relation to separate intangible assets arising on business combinations from 2014 through to 2016. The impact of the change in the rate of UK corporation tax to 25% from 1 April 2023 (announced March 2021) has been factored into the liability based on the forecast realisation date.

Accrued expenses not yet tax deductible

The Group has recognised a deferred tax asset amounting to £197,887 (2020

: £

NIL

) in respect of certain accrued expenses amounting to $1,056,334 (2020

: $

NIL) in a US subsidiary which are not tax deductible until settled. Once realised this will result in a US tax saving of $267,781 (2020

: $

NIL

Unrecognised deferred tax

The Group has the following unrecognised deferred tax assets and liabilities:


	2021 £		2020 £
Accelerated capital allowances		—		(64,728	)
Unused tax losses		2,018,188		3,551,713
Accrued expenses not yet tax deductible		115,352		176,693
Impact of prior year adjustments		—		496,628
Specific allowance in US subsidiary		—		424,640

		2,133,540		4,584,946

Unused tax losses

In addition to the above, the group has cumulative UK tax losses of £2,347,834 (2020

: £

12,749,082), which if realised at the 2020 UK main corporation tax rate of 19% would generate a tax saving of £446,088 (2020

: £

2,422,326). If utilised at the rate of 25% expected to apply from 1 April 2023 then the tax saving generated from the future utilisation of these losses increases to £586,959 (2020

: £

3,187,271). No deferred tax asset has been recognised in respect of these tax losses due to the uncertain timing of sufficient taxable profits being generated to utilise them.

The group also has cumulative US tax losses relating to three US subsidiaries totalling $7,206,273 (2020

: $

5,316,060

, 2019: $2,019,090),

which if realised at the USA 2021 federal plus state corporation tax rate of 25.35% would generate a tax saving of $1,826,790 (2020

: $

1,347,621). At the USD:GBP exchange rates as of 31 December 2021, this amounts to an unrecognised deferred tax asset of £1,349,978 (2020

: £

985,824). No deferred tax asset has been recognised in respect of these tax losses due to the uncertain timing of sufficient profits being generated to utilise them.

The group also has cumulative French tax losses relating to a French subsidiary totalling EUR1,056,679 (2020

EUR605,943), which if realised at the French 2022 corporation tax rate of 25% would result in a tax saving of EUR264,170 (2020

EUR160,575). At the EUR:GBP exchange rates as of 31 December 2021, this amounts to an unrecognised deferred tax asset of £222,122 (2020

: £

143,563). No deferred tax asset has been recognised in respect of these tax losses due to the uncertain timing of sufficient profits being generated to utilise them.

Accrued expenses not yet tax deductible

The Group has an unrecognised deferred tax asset amounting to £115,352 (2020

: £

176,693) in respect of certain accrued expenses amounting to $615,759 (2020

: $

952,818) in a US subsidiary which are not tax deductible until settled. Once realised this will result in a US tax saving of $156,095 (2020

: $

241,539). No deferred tax asset has been recognised in respect of these accrued expenses due to the uncertain timing of sufficient profits being generated to utilise them.

Executory Contracts

12 Months Ended

Dec. 31, 2021

Disclosure Of Executory Contracts [Abstract]

Executory contracts

22.	Executory contracts

At 31 December 2020, the Group held an option to purchase crypto assets. This option was deemed to be a

non-financial

instrument because the option can only be settled for the underlying assets, rather than cash. As a result, this arrangement was treated as an executory contract to exercise the option, and was therefore held off the balance sheet. This executory contract had an intrinsic value of £270,013 at 31 December 2020.

At 31 December 2021 the Group does not have any similar arrangements.

Employee Benefits

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Employee benefits

23.	Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £1,092,981 (2020: £1,063,009

, 2019: £901,531).

Share-Based Payments

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Share-Based Payment Arrangement [Abstract]

Share-based payments

17.	Share based payments

The Group held a Townhall on 21 September 2022 where it was communicated to the members of the LTIP that cash payments would be made to settle the plan imminently. The Group has determined that it was at this point that a mutual understanding between the Group and members in the scheme had been established, and that 21 September should therefore be used as the vesting date. The fair value of these awards as at 30 September 2022 is £10,761,130 and a liability has therefore been recognised for this amount.

The total expense recognised in profit or loss for the period is as follows:


	30 Sep 22		30 Sep 21
	£		£
Equity-settled share-based payments		—		(1,333	)
Cash-settled share-based payments		10,442,728		—

		10,442,728		(1,333	)

The total carrying amount of the liability relating to cash-settled share-based payment transactions at 30 September 2022 is £10,761,130 (2021: £Nil). The liability is different to the expense recognised in the profit and loss disclosed above as an element of this liability is payable to foreign subsidiaries and is therefore denominated in foreign currencies. These liabilities are therefore revalued at the closing exchange rates.

24.	Share-based payments

During 2015, the Group set up an employee share scheme. 10,495 ordinary shares were issued to LJ GP Nominee Limited to fulfil the requirements of the scheme. LJ GP Nominee Limited is a subsidiary of Alvarium Investments Limited and holds the shares on trust for the employees. The intention of the scheme was to reward and provide incentive for staff/management to be rewarded financially for helping to build and grow the Group successfully.

Full rights to the shares do not pass to employees until a certain period of service has been completed, which is between 1 and 3 years from the date of grant. If an employee is a bad leaver in that period, the shares remain with LJ GP Nominee Limited and the employee is not entitled to any payment or reward. Whether an employee is a good or bad leaver is determined at the discretion of the directors. There are no other market or

non-market

vesting conditions. The vesting period is therefore treated as being between 1 and 3 years, and the fair value of the shares granted is therefore expensed over that period.

Once the shares have vested, no further payment is required to be made by the employee for the shares, and unconditional rights pass to them.

In determining the expense to recognise, management has had to consider the number of shares that will eventually vest, and therefore make a number of assumptions on the number of bad leavers throughout the vesting period. Management has assumed that there will be staff turnover of

15% throughout the vesting period and the cost has been discounted accordingly. This assumption will be reviewed annually.

The total expense recognised in profit or loss for the year is as follows:


	2021 £			2020 £		2019 £
Equity-settled share-based payments		(1,333	)		7,296		8,818

Government Grants

12 Months Ended

Dec. 31, 2021

Disclosure of Government Grants [Abstract]

Government grants

25.	Government grants

The amounts recognised in the Consolidated financial statements for government grants are as follows:


	2021 £		2020 £		2019 £
Recognised in other operating income:
Government grants recognised directly in income		—		759,664		—

Called Up Share Capital

12 Months Ended

Dec. 31, 2021

Called up share capital

26.	Called up share capital

Issued, called up and fully paid


	2021 No.		£		2020 No.		£		2019 No.		£
Ordinary class A shares of £0.01 (2020: £0.01, 2019: £0.01)each		28,410		284		28,410		284		28,410		284
Ordinary class E shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		2,145		21		2,145		21
Ordinary class E1 shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		1		—		1		—
Ordinary shares of £0.01 (2020: £0.01,2019: £0.01) each		714,908		7,149		664,331		6,643		657,403		6,575
Ordinary class E2 shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		1		—		1		—

		743,318		7,433		694,888		6,948		687,960		6,880

Ordinary shareholders are entitled to receive notice of, attend, speak at and vote at general meetings. They are entitled to receive distributions of profits other than those distributable to E and E1 shareholders.

E shareholders are not entitled to receive notice of, attend, speak at and vote at general meetings. They are entitled to receive distributions of profits in relation to specific deals and transactions as defined in the shareholders agreement and articles of association.

E1 shareholders are not entitled to receive notice of, attend, speak at and vote at general meetings. They are entitled to receive distributions of profits in relation to specific deals and transactions as defined in the shareholders agreement and articles of association.

E2 shareholders are not entitled to receive notice of, attend, speak at and vote at general meetings. They are entitled to receive distributions of profits in relation to specific deals and transactions as defined in the shareholders agreement and articles of association.

A shareholders are not entitled to receive notice of, attend, speak at and vote at general meetings. They are entitled to receive distributions of profits other than those distributable to E and E1 shareholders. Such profits shall be shared amongst the holders of the Ordinary shares and Ordinary A shares pair passu and pro rata to their holdings of such Ordinary and Ordinary A shares respectively, as though they were a single class of shares. In the event of a liquidation of the company prior to February 2022, the holders of the Ordinary A shares would be entitled to a priority distribution of £5,559,000.

Issue of Ordinary shares

46,604 Ordinary shares were issued in October 2021 for a total consideration of £9,494,633. The consideration was settled through the conversion of a subordinated shareholder loan to the new shares.

A further 3,973 ordinary shares were issued in April 2021 for a total consideration of £923,365. The consideration was settled through the transfer of a minority shareholding in LXI REIT Advisors Ltd and Alvarium Social Housing Advisors Ltd to the group, two existing subsidiaries of the group.

Issue of Ordinary shares 2020

6,928 Ordinary shares were authorised issued in August 2020 for a total cash consideration of £1,411,440.

Issue of Ordinary class A shares 2019

28,410 Ordinary class A shares were authorised and issued in February 2019 for a total consideration of £5,558,985. This was settled through the transfer of the trade and assets of a business acquired by the Group during the year, as disclosed in additions to client lists in note 14.

Issue of Ordinary shares 2019

51,540 Ordinary shares were authorised and issued in March 2019 for a total cash consideration of £10,500,244.

A further 20,706 Ordinary shares were authorised and issued in October 2019 for a total consideration of £4,218,433. This was settled through the transfer of a 41.4% shareholding in Alvarium Social Housing Advisors Ltd to the Group, further details of which are disclosed in note 30 to the accounts.

Cancellation of share capital

During the period, the E shares, E1 share and E2 share were all cancelled and purchased by the company from the holders at par for a consideration of £22.

Reserves

12 Months Ended

Dec. 31, 2021

Analysis of changes in net debt

Reserves

27.

Reserves

Share premium account

This reserve records the amount above the nominal value received for shares sold, less transaction costs.

Profit and loss account

This reserve records retained earnings and accumulated losses.

Other reserves

Other reserves consist of a merger reserve and a revaluation reserve. The split of these reserves is shown below.

Merger reserve

The merger reserve arose when the group was formed and represents the application of UK statutory merger relief by LJ GP Ltd on the issue of shares in exchange for shares in the other combining entities and the difference between the assets, liabilities and accumulated profit and loss account of LJ Capital, amounts transferred as part of the transaction and the capital structure of LJ GP Ltd. The balance within the reserve

was £22,867,313

at 31 December 2021 and 31 December 2020.

Revaluation reserve

The Company historically held investments in two associates - Unicorn Administration Limited and LJ Investment Management Limited - where additional interests were subsequently purchased giving the company control and resulting in consolidation of a subsidiary undertaking. This has resulted in a revaluation reserve. The balance within the

reserve was £133,722

at 31 December 2021 and 31 December 2020.

Other reserves


	2021		2020
	£		£
Merger reserve		22,867,313		22,867,313
Revaluation reserve		133,722		133,722

		23,001,035		23,001,035

Analysis of changes in net debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

28.	Analysis of changes in net debt


	At						Other			At
	1 Jan 2021			Cash flows			changes			31 Dec 2021
	£			£			£			£
Cash and cash equivalents		8,298,069			4,666,340			(2,539	)		12,961,870
Debt due within one year		(1,186,222	)		(400,557	)		(9,042,704	)		(10,629,483	)
Debt due after one year		(9,057,705	)		—			9,057,705			—

		(1,945,858	)		4,265,783			12,462			2,332,387

Impact of foreign exchange

The other changes of £2,539 recorded in cash and cash equivalents above relate to foreign exchange variances.

The

other changes to debt due within and after one year include foreign exchange gains of £

45,592

Impact of rolled up interest

The other changes to debt due within and after one year include the release of discount on deferred consideration of £25,798. This is rolled up and included in the closing balances.

This also includes rolled up interest on the Group’s bank facility of £4,793.

Obligations under finance leases

The Group’s obligations under finance leases disclosed in the above reduced by £240,336 during the period following capital repayments of that amount.


	At					Other			At
	1 Jan 2020			Cash flows		changes			31 Dec 2020
	£			£		£			£
Cash and cash equivalents		7,057,488			1,250,687		(10,106	)		8,298,069
Debt due within one year		(1,511,044	)		1,221,874		(897,052	)		(1,186,222	)
Debt due after one year		(9,683,832	)		—		626,127			(9,057,705	)

		(4,137,388	)		2,472,561		(281,031	)		(1,945,858	)

Impact of acquisition and disposal of subsidiaries

Included in the cash flows relating to cash and cash equivalents are cash inflows of £71,158 in respect of cash balances acquired with subsidiaries and cash outflows of £2,934 in respect of cash balances disposed of with the loss of control of a subsidiary during the year.

Impact of foreign exchange

The other changes of £10,106 recorded in cash and cash equivalents above relate to foreign exchange variances.

The other changes to debt due within and after one year include foreign exchange losses of £88,641

Impact of rolled up interest

The other changes to debt due within and after one year include the release of discount on deferred consideration of £59,088. This is rolled up and included in the closing balances.

This also includes rolled up interest on the Group’s bank facility of £40,270.

Impact of fair value adjustment to deferred consideration

The other changes to debt due within and after one year include fair value adjustments to deferred consideration amounting to £82,726.

Obligations under finance leases

The Group’s obligations under finance leases disclosed in the above reduced by £222,793 during the period following capital repayments of that amount.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Commitments and Contingencies Disclosure [Abstract]

Commitments Under Operating Leases

12 Months Ended

Dec. 31, 2021

Commitments under operating leases

29.	Commitments under operating leases

The total future minimum lease payments under

non-cancellable

operating leases are as follows:


	2021 £		2020 £
Not later than 1 year		1,456,570		—
Later than 1 year and not later than 5 years		4,653,430		3,082,584
Later than 5 years		3,095,534		3,904,607

		9,205,534		6,987,191

Commitments and Contingencies

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Commitments and Contingencies

30.	Contingencies

Acquisition of

Iskander

SAS

Following the acquisition in March 2019, a deferred consideration was payable in four further instalments of EUR525,000 due in September 2019, September 2020, September 2021 and March 2022. The share purchase agreement contained an adjustment mechanism whereby if Iskander’s assets under management (‘AUM’) reduced by 10% or more the total consideration is subject to a downward adjustment, to be reflected against the next deferred consideration instalment. Such a reduction is capped at EUR575,000 in

aggregate.

A drop in AUM occurred following completion and as a result the September 2019 instalment was not due, and the September 2020 instalment deferred to September 2021. In the event the AUM recovers, then a subsequent deferred consideration instalment would be increased to compensate for this. Management does

not

consider it probable that the AUM will recover sufficiently to cause the September 2021 instalment to be adjusted upwards and therefore EUR

575,000

of the deferred consideration has been derecognised from the financial statements. Should there be further fluctuations in AUM, the deferred consideration payable is subject to a maximum upwards adjustment of EUR

575,000

compared to the figures reported in the financial statements. At the year end GBP:EUR exchange rate this would amount to a potential upwards adjustment of £

514,081

Senior loan facility

The Company has a revolving loan facility with Natwest with a facility limit of £15.00m. At the year end £10.25m (2020: £8.75m

, 2019: £NIL

) has been drawn from the facility. The loan is subject to various financial covenants and is secured over the assets of the Group.

Increase in holdings in subsidiaries

At 31 December 2020 the Group had entered into a commitment to acquire a further 5.7% of Alvarium Social Housing Advisors Ltd for a total cash consideration of £330,435, payable in December 2021.

At 31 December 2020 the Group had also entered into a commitment to acquire a further 11.5% of LXI REIT Advisors Ltd for a total cash consideration of £3,927,160, payable in October and December 2021.

Both of these commitments were fully paid out in 2021 and the balances at 31 December 2021 are therefore £NIL.

Litigation

From

time-to-time

we may be involved in various legal proceedings, lawsuits and claims incidental to the conduct of our business, some of which may be material. Our businesses are also subject to extensive regulation, which may result in regulatory proceedings against us.

Alvarium’s subsidiary, LJ Management (IOM) Limited, is a

co-respondent

with others in a claim being brought by Ballacorey Wheat Limited and GEM Global Yield Fund Limited. LJ Management (IOM) Limited denies any liability and is defending the claim. However, if the claim succeeds, the liability (including costs) is materially covered by insurance.

Commitments and Contingencies

Note 6 — Commitments and Contingencies

Underwriting Agreement

The underwriter had a

45-day

option from the date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions. On February 26, 2021, the underwriter fully exercised its over-allotment option.

Upon consummation of the IPO on February 26, 2021, the underwriters were paid a cash underwriting fee of 2.0% of the gross proceeds of the IPO, or $6,900,000 in the aggregate.

The underwriters of the IPO are entitled to a deferred underwriting commission of 3.5% of the gross proceeds of the IPO, or $12,075,000 in the aggregate. Subject to the terms of the underwriting agreement, (i) the deferred underwriting commission was placed in the Trust Account and will be released to the underwriters only upon the completion of a Business Combination and (ii) the deferred underwriting commission will be waived by the underwriters in the event that the Company does not complete a Business Combination.

Registration Rights

On February 23, 2021, the Company entered into a registration rights agreement with respect to the founder shares, the Private Warrants and warrants that may be issued upon conversion of the Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Warrants and warrants that may be issued upon conversion of Working Capital Loans), which requires the Company to register such securities for resale (in the case of the founder shares, only after conversion to Class A ordinary shares).

Pursuant to such registration rights agreement, the holders of the majority of these securities will be entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders will have certain “piggy-back” registration rights with respect to registration statements filed subsequent

to the completion of the Company’s initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Financial Advisor Engagements and Resignations

On September 19, 2021, the Company engaged BofA Securities, Inc. (“BofA”) as its financial (M&A) advisor in connection with the Business Combination. Pursuant to this engagement, the Company agreed to pay to BofA an advisory fee of $3,000,000, contingent and payable upon the closing of a Business Combination. On May 13, 2022, BofA resigned from its role as financial (M&A) advisor to the Company and waived any fees to which it was entitled pursuant to its engagement, and BofA and the Company mutually terminated the engagement letter entered into in connection therewith.

On September 19, 2021, the Company engaged BofA as its capital markets advisor in connection with the Business Combination. Pursuant to this engagement, the Company will pay no additional compensation to BofA. On May 13, 2022, BofA resigned from its role as capital markets advisor to the Company for which it was not entitled to any fee, and BofA and the Company mutually terminated the engagement letter entered into in connection therewith.

Note 6 — Commitments and Contingencies

Underwriting Agreement

The underwriter had a

45-day

Upon consummation of the IPO on February 26, 2021, the underwriters were paid a cash underwriting fee of 2.0% of the gross proceeds of the IPO, or $6,900,000 in the aggregate.

The underwriters of the IPO are entitled to a deferred underwriting commission of 3.5% of the gross proceeds of the IPO, or $12,075,000 in the aggregate. Subject to the terms of the underwriting agreement, the deferred underwriting commission will be payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes an initial Business Combination and the deferred underwriting commission will be waived by the underwriters in the event that the Company does a Business Combination.

Registration Rights

On February 23, 2021, the Company entered into a registration rights agreement with respect to the Founder Shares, the Private Warrants and warrants that may be issued upon conversion of the Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Warrants and warrants that may be issued upon conversion of Working Capital Loans), which requires the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to Class A ordinary shares). Pursuant to such registration rights agreement, the holders of the majority of these securities will be entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders will have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the Company’s initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Financial Advisor Engagements

Class A Ordinary Shares Subject to Possible Redemption	9 Months Ended
Class A Ordinary Shares Subject to Possible Redemption	Sep. 30, 2022
Cartesian Growth Corp [Member]
Class A Ordinary Shares Subject to Possible Redemption	Note 7 — Class A Ordinary Shares Subject to Possible Redemption Class A Ordinary Shares — The Company is authorized to issue up to 200,000,000 Class A ordinary shares with a par value of $0.0001 per share. At each of September 30, 2022 and December 31, 2021 there were 34,500,000 issued and outstanding. Of the 34,500,000 issued and outstanding Class A ordinary shares, 34,500,000 shares are subject to possible redemption at September 30, 2022 and December 31, 2021 and, therefore, classified outside of permanent equity. At September 30, 2022 and December 31, 2021, all Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets.

Shareholders' Deficit	9 Months Ended	12 Months Ended
Shareholders' Deficit	Sep. 30, 2022	Dec. 31, 2021
Cartesian Growth Corp [Member]
Shareholders' Deficit	Note 8 — Shareholders’ Deficit Preference Shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At September 30, 2022 and December 31, 2021, there were no preference shares issued or outstanding. Class B Ordinary Shares — The Company is authorized to issue 20,000,000 Class B ordinary shares with a par value of $0.0001 per share. At September 30, 2022 and December 31, 2021, there were 8,625,000 Class B ordinary shares issued and outstanding. On February 23, 2021, the Company effectuated a recapitalization resulting in the initial shareholders holding 8,625,000 Class B ordinary shares, including up to 1,125,000 founder shares which were subject to forfeiture by the Sponsor, if the over-allotment option was not exercised by the underwriters in full. As a result of the underwriters’ full exercise of their over-allotment option on February 26, 2021, none of the Class B ordinary shares are subject to forfeiture any longer. Prior to an initial Business Combination, only holders of Class B ordinary shares will be entitled to vote on the appointment of directors and may remove a member of the Company’s board of directors for any reason prior to the consummation of an initial Business Combination. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of the Company’s shareholders except as required by law. Unless specified in the Company’s amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act (As Revised) of the Cayman Islands, as amended from time to time, or applicable share exchange rules, the affirmative vote of a majority of the Company’s ordinary shares that are voted is required to approve any such matter voted on by its shareholders. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Company’s initial Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20%of the sum of (i) the total number of the Company’s ordinary shares issued and outstanding upon completion of the IPO, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities (as defined herein) or rights issued or deemed issued by the Company in connection with or in relation to the completion of the initial Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller of a target business in the initial Business Combination and any warrants issued upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.	Note 7 — Shareholders’ Equity Preference Shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2021 and December 31, 2020, there were no preference shares issued or outstanding. Class A Ordinary Shares — The Company is authorized to issue up to 200,000,000 Class A ordinary shares with a par value of $0.0001 per share. At December 31, 2021 and December 31, 2020 there were 34,500,000 and 0, respectively, issued and outstanding. Of the issued and outstanding Class A ordinary shares, 34,500,000 shares are subject to possible redemption, at December 31, 2021 and, therefore, classified outside of permanent equity. At December 31, 2021 all Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. Class B Ordinary Shares —The Company is authorized to issue 20,000,000 Class B ordinary shares with a par value of $0.0001 per share. At December 31, 2021 and December 31, 2020, there were 8,625,000 and 7,187,500 Class B ordinary shares, respectively, issued and outstanding. On February 23, 2021, the Company effectuated a recapitalization resulting in the initial shareholders holding 8,625,000 Class B ordinary shares, including up to 1,125,000 founder shares which were subject to forfeiture by the Sponsor, if the over-allotment option was not exercised by the underwriters in full. As a result of the underwriters’ full exercise of their over-allotment option on February 26, 2021, none of the Class B ordinary shares are subject to forfeiture any longer. Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders except as required by law. Unless specified in the Company’s amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act (As Revised) of the Cayman Islands, as amended from time to time, or applicable share exchange rules, the affirmative vote of a majority of the Company’s ordinary shares that are voted is required to approve any such matter voted on by its shareholders. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Company’s initial Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of the Company’s ordinary shares issued and outstanding upon completion of the IPO, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities (as defined herein) or rights issued or deemed issued by the Company in connection with or in relation to the completion of the initial Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller of a target business in the initial Business Combination and any warrants issued upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

Fair Value Measurements

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Fair Value Disclosures [Line Items]

Fair Value Measurements

Note 9 — Fair Value Measurements

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


	September 30, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	347,105,214	$	347,105,214	$	—	$	—

Liabilities:
Public Warrants Liability	$	3,278,650	$	3,278,650	$	—	$	—
Private Warrants Liability		3,086,428		—		—		3,086,428

	$	6,365,078	$	3,278,650	$	—	$	3,086,428


	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	345,031,308	$	345,031,308	$	—	$	—

Liabilities:
Public Warrants Liability	$	12,765,000	$	12,765,000	$	—	$	—
Private Warrants Liability		10,328,609		—		—		10,328,609

	$	23,093,609	$	12,765,000	$	—	$	10,328,609

The Warrants are accounted for as liabilities in accordance with

ASC 815-40 and

are presented within warrant liabilities on the condensed balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the condensed statements of operations.

classified as Level 3 as of September 30, 2022 and December 31, 2021 due to the use of unobservable inputs. For the period ended December 31, 2021, the Public Warrants were reclassified from a Level 3 to a Level 1 classification due to the use of the observed trading price of the separated Public Warrants. For the three and nine months ended September 30, 2022, there were no transfers between Levels 1, 2 or 3.

The following table presents the changes Level 3 liabilities for the nine months ended September 30, 2022:


Fair Value at January 1, 2022	$	10,328,609
Change in fair value		(4,682,154	)

Fair Value at March 31, 2022		5,646,455
Change in fair value		225,658

Fair Value at June 30, 2022		5,872,113
Change in fair value		(2,785,685	)

Fair Value at September 30, 2022	$	3,086,428

The following table presents the changes Level 3 liabilities for the year ended December 31, 2021:


Fair Value at January 1, 2021	$	—
Initial fair value of Public Warrants and Private Warrants		27,004,700
Transfer of Public Warrants to Level 1		(15,007,500	)
Change in fair value		(1,668,591	)

Fair Value at December 31, 2021	$	10,328,609

The key inputs into the Monte Carlo simulation model as of September 30, 2022 and December 31, 2021 were as follows:


	September 30, 2022			December 31, 2021
Risk-free interest rate		4.05	%		1.30	%
Expected term remaining (years)		5.19			5.49
Expected volatility		34.1	%		17.5	%
Trading stock price	$	9.91		$	9.88

The Company utilizes a Monte Carlo simulation model to estimate the fair value of the conversion feature of the Working Capital Note, which is required to be recorded at its initial fair value on the date of issuance and each balance sheet date thereafter. Changes in the estimated fair value of the conversion feature of the Working Capital Note are recognized as

non-cash

gains or losses in the condensed statements of operations.

The key assumptions in the Monte Carlo simulation model relate to the expected trading share-price volatility of the Class A ordinary shares, risk-free interest rate, strike price – warrants and debt conversion, expected term of the warrants and the probability of consummation of a Business Combination. The expected trading share-price volatility of the Class A ordinary shares is based on the average trading share price volatility of shares of special purpose acquisition companies (SPACs) that are searching for a target to consummate a business combination. The risk-free interest rate is based on interpolation of U.S. Treasury yields with a term commensurate with the term of the warrants. The Company anticipates the dividend yield to be zero. The expected term of the warrants is assumed to be the timing and likelihood of consummating a Business Combination.

The estimated fair value of the conversion feature of the Working Capital Note as of issuance and for the period ended September 30, 2022 are $41,331 and $0, respectively.

The following are the primary assumptions used for the valuation of the conversion feature of the Working Capital Note:


	May 25, 2022			September 30, 2022
Warrant Valuation Terms
Risk-free interest rate		2.72	%		4.05	%
Expected term remaining (years)		5.32			5.19
Expected volatility		10.9	%		34.1	%
Trading share price	$	9.77		$	9.91


	May 25, 2022			September 30, 2022
Compound Option Terms
Strike price — debt conversion	$	1.00		$	1.00
Strike price — warrants	$	11.50		$	11.50
Term — debt conversion		0.32			0.19
Term — warrant conversion		5.32			5.19
Probability of consummation of a Business Combination		90	%		90	%
Probability of consummation of a Business Combination — Target Date 11/30/2022		90	%		90	%
Probability of consummation of a Business Combination — Target Date 2/28/2023		10	%		10	%

The following table presents the changes in the fair value of the Level 3 conversion option:


Fair value at May 25, 2022 (date of issuance)	$	41,331
Change in fair value		(35,333	)

Fair value at June 30, 2022		5,998
Change in fair value		(5,998	)

Fair value at September 30, 2022	$	—

There were no transfers in or out of Level 3 from other levels in the fair value hierarchy during the period ended September 30, 2022 for the conversion feature of the Working Capital Note.

Note 8 — Fair Value Measurements

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	345,031,308	$	345,031,308	$	—	$	—

Liabilities:
Public Warrants Liability		12,765,000		12,765,000		—		—
Private Warrants Liability		10,328,609		—		—		10,328,609

	$	23,093,609	$	12,765,000	$	—	$	10,328,609

The Warrants are accounted for as liabilities in accordance with ASC

815-40

and are presented within warrant liabilities on the balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the Statement of Operations.

The Company established the initial fair value of the Public Warrants and Private Warrants on February 26, 2021, the date of the Company’s IPO, using a Monte Carlo simulation model. As of December 31, 2021, the fair value for the Private Warrants was estimated using a Monte Carlo simulation model, and the fair value of the Public Warrants by reference to the quoted market price. The Public and Private Warrants were classified as Level 3 at the initial measurement date, and the Private Warrants were classified as Level 3 as of December 31, 2021 due to the use of unobservable inputs. For the period ending December 31, 2021, the Public Warrants were reclassified from a Level 3 to a Level 1 classification due to use of the observed trading price of the separated Public Warrants.

The following table presents the changes Level 3 liabilities for the year ended December 31, 2021:


Fair Value at January 1, 2021	$	—
Initial fair value of public and private warrants		27,004,700
Transfer of public warrants to Level 1		(15,007,500	)
Change in fair value		(1,668,591	)

Fair Value at December 31, 2021	$	10,328,609

The key inputs into the Monte Carlo simulation as of February 26, 2021 and December 31, 2021 were as follows:


	(Initial Measurement) February 26, 2021			December 31, 2021
Risk-free interest rate		0.98	%		1.30	%
Expected term remaining (years)		6.13			5.49
Expected volatility		24.2	%		17.5	%
Stock price	$	9.565		$	9.88

Events after the reporting period

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Events after the reporting period

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Subsequent Event [Line Items]

19.	Events after the reporting period

On 17 October 2022, the Securities and Exchange Commission declared the registration statement for the proposed business combination and public listing with Cartesian announced on 20 September 2021 effective. The closing date of this business combination is expected to be 3 January 2023 subject to shareholder approval.

31.	Subsequent events

The company increased its stake in LXI REIT Advisors Limited by 27.5% in Jan 2021 acquiring 240 £0.01 ordinary shares for £9,786,067. An additional 2% was acquired in April 2021 for £648,800 (20 £0.01 ordinary shares), a further 3.5% was acquired in October 2021 for £1,135,400 (35 £0.01 ordinary shares) and a final 8% was acquired in December 2021 for £2,791,760 (80 £0.01 ordinary shares).

In addition, the company increased its stake in Alvarium Social Housing Limited by 17.9% in 2021, acquiring 50 £0.01 ordinary shares for £289,855 in March 2021, 50 £0.01 ordinary shares for £289,855 in June 2021, 50 £0.01 ordinary shares for £289,855 in September 2021, a further 29 £0.01 ordinary shares for £274,663 in April 2021 and a final 57 £0.01 ordinary shares for £330,435 in December 2021.

£8,650,667 of subordinated shareholder loans were arranged on 20

January 2021. These accrue interest at 12% per annum, and are due for repayment at the maturity date of 30 June 2023. There is an option to convert the shareholder loan to shares in the Group at an option price of £203.73 per share. The option to convert the shareholder loan to equity was exercised in October 2021 by the lenders. The resulting impact was a decrease of the shareholder loan balance and an increase to equity of £9.5m.

On 11 July 2022, a subsidiary of Alvarium, LXI REIT Advisors Limited, acquired the rights to manage Secure Income REIT plc, by purchasing the existing shares of Prestbury Investment Partners Limited, for £40 million. The acquisition was financed via a loan from Alvarium shareholders. This acquisition will be treated as an asset acquisition for accounting and reporting purposes.

Interest rate benchmarks such as the London Interbank Offered Rate (LIBOR) are being reformed, and it has been confirmed that LIBOR will cease after 31 December 2021. As a consequence, entities have to amend contractual terms referenced to LIBOR and other interest rate benchmarks and switch to new alternative benchmarks rates. The interest rate switched to a risk free benchmark (SONIA) on the cessation date for LIBOR which occurred on 31 December 2021. Management have carried out an assessment of the impact of this change in interest rate and have concluded that the impact is immaterial.

As at the date of approval of these Consolidated financial statements (13 May 2022) there

have been no other subsequent events to disclose.

Events after the reporting period

Subsequent Event [Line Items]

Note 10 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, other than the below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.

On October 25, 2022, CGC, TWMH, the TIG Entities, Alvarium, Umbrella Merger Sub and Umbrella entered into an Amended & Restated Business Combination Agreement (the “A&R Business Combination Agreement”), pursuant to which, among other things, the Business Combination Agreement was amended and restated to provide that (i) at Closing, CGC shall, or shall cause Continental Stock Transfer & Trust Company to, simultaneously (a) cancel a number of Class A ordinary shares held by the Sponsor equal to the number of the Sponsor Redemption Shares (as defined in the A&R Business Combination Agreement) and (b) issue the Non-Redeeming Bonus Shares (as defined in the A&R Business Combination Agreement) on a pro rata basis by number of Non-Redeemed SPAC Class A Common Shares (as defined in the A&R Business Combination

Agreement) to the holders of such Non-Redeemed SPAC Class A Common Shares (as defined in the A&R Business Combination Agreement); (ii) the term “Outside Date” shall mean January 4, 2023; (iii) 1,050,000 shares of the TWMH Members Earn-Out Consideration (as defined in the A&R Business Combination Agreement) and 1,050,000 shares of the TIG Entities Members Earn-Out Consideration (as defined in the A&R Business Combination Agreement) shall be issued at Closing (as defined in the (as defined in the A&R Business Combination Agreement); (iv) a termination fee in an amount of $5,500,000 shall be payable by Alvarium (severally and not jointly) to CGC, and a termination fee in an aggregate amount of $11,000,000 shall be payable by the TIG Entities and TWMH (jointly and severally) to CGC, if CGC shall have terminated the A&R Business Combination Agreement pursuant to Section 12.01(b) thereof, as described more fully below under “Termination Fee”; (v) on the Closing Date (as defined in the A&R Business Combination Agreement), immediately following the Alvarium Exchange Effective Time (as defined in the A&R Business Combination Agreement) but prior to the Umbrella Merger, CGC shall contribute SPAC Class B Common Stock (as defined in the A&R Business Combination Agreement) and cash to a newly formed wholly owned Delaware corporation (“SPAC Holdings”), which SPAC Holdings shall then contribute to Umbrella Merger Sub; (vi) 11,788,132 shares of SPAC Class A Common Stock (as defined in the A&R Business Combination Agreement) shall be initially reserved for the post-combination company’s equity incentive plan and 1,813,559 shares of SPAC Class A Common Stock shall be initially reserved for the post-combination company’s employee stock purchase plan; and (vii) in addition, the form of Registration Rights and Lock-Up Agreement attached as Exhibit F to the A&R Business Combination Agreement was amended to reduce from 100% to 50% the percentage of Lock-Up Shares held by the Inactive Target Holders (as defined therein) that are restricted from transfer thereunder.

Note 9 — Subsequent Events

Proposed Business Combination

The Company filed a registration statement on Form

S-4

(File

No. 333-262644)

(the “Form

S-4”)

with the SEC on February 11, 2022, in connection with the Business Combination Agreement. The consummation of the transactions contemplated by the Business Combination Agreement is subject to customary conditions, representations and warranties, covenants and closing conditions in the Business Combination Agreement, including, but not limited to, approval by the Company’s shareholders of the Business Combination Agreement, the effectiveness of the Form

S-4,

and other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close in the second or third quarter of 2022.

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review and other than with respect to the filing of the Form

S-4

described above, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Related Party Transactions

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Related Party Transactions

18.	Related party transactions


		Transaction value						Balance
Related Party	Nature of RPT	Q3 2022			Q3 2021			Q3 2022			Q4 2021
Related Individuals
Ali Bouzarif	Revenue share		(335,337	)		(400,772	)		22,908			(532,073	)

									22,908			(532,073	)

Amounts owed to group’s associates and JVs
Queensgate Investments 1 Sarl	Loan payable		—			—			(5,625	)		(5,625	)
Queensgate Investments II GP LLP	Loan payable		—			—			(178,149	)		(178,149	)
Alvarium Wealth (NZ) Limited	Fees payable		—			—			—			(34,113	)
Alvarium Investments (NZ) Limited	Fees payable		—			—			—			(137,497	)
Alvarium Capital Partners Limited	Expenses payable		—			—			—			(16	)
Alvarium Capital Partners Limited	Fees payable		—			—			—			(233,663	)
Alvarium Investment Managers (Suisse)	Fees payable		(74,016	)		—			(24,568	)		—
Cresco Capital Advisors LLP	Fees payable		18,000			18,000			—			(7,200	)
Pointwise Partners	Fees payable		(1,360,302	)		(874,101	)		(618,817	)		(152,742	)

Total									(827,159	)		(749,005	)


		Transaction value						Balance
Related Party	Nature of RPT	Q3 2022			Q3 2021			Q3 2022		Q4 2021
Amounts owed by group’s associates and JVs
Alvarium Capital Partners Limited	Fees receivable		—			—			—		10,000
Alvarium Capital Partners Limited	Expenses receivable		—			12,523			—		15,881
Alvarium Core Partners LLP	Expenses receivable		2,488			2,590			7,570		5,081
Alvarium Investment Managers (Suisse)	Expenses receivable		17,226			1,497			21,436		9,115
Alvarium Investments (Aus) Pty Ltd	Loan receivable		114,574			26,342			560,095		445,342
Alvarium Investments (Aus) Pty Ltd	Expenses receivable		30,965			—			32,013		1,048
Alvarium Investments (NZ) Limited	Loan receivable		—			—			—		1,434,572
Alvarium Investments (NZ) Limited	Expenses receivable		—			38,538			—		85,565
Alvarium Osesam	Expenses receivable		87,739			77,050			147,093		53,545
Bluestar Advisors	Fees receivable		7,500			7,500			9,000		—
Bluestar Advisors	Expenses receivable		2,239			748			3,404		1,256
Casteel Capital LLP	Fees receivable		37,800			37,800			37,800		5,170
Casteel Capital LLP	Expenses receivable		2,697			1,002			283		2,534
CRE Sarl	Fees receivable		15,033			75,038			—		9,933
CRE Sarl	Expenses receivable		—			—			6,785		6,498
Cresco Capital Urban Yurt Holdings 2 Sarl	Expenses receivable		—			—			1,829		1,752
Cresco Immobilien Verwaltungs	Loan receivable		—			—			414,522		396,990
Cresco Immobilien Verwaltungs	Loan interest		23,923			24,270			139,393		109,744
Cresco Urban Yurt Sarl	Loan receivable		—			(14,546	)		29,033		27,805
Cresco Urban Yurt Sarl	Loan interest		1,571			(16,382	)		2,673		1,000
Hadley DM Services Limited	Loan receivable		(168,896	)		(62,607	)		530,000		698,896
Hadley DM Services Limited	Loan interest		(18,604	)		23,327			99,588		118,192
NZ PropCo	Fees receivable		—			—			—		100,985
Osprey Equity Partners Limited	Loan receivable		—			77,000			259,246		259,246
Osprey Equity Partners Limited	Expenses receivable		21,013			7,080			28,138		7,125
Pointwise Partners	Fees receivable		156,418			64,105			182,708		24,022
Pointwise Partners	Expenses receivable		42,347			29,645			231,386		189,041
Pointwise Partners	Loan receivable		976,461			934,705			2,726,658		1,750,197
Queensgate Investments LLP	Expenses receivable		171			705			1,437		1,266

Total									5,472,090		5,771,801

Amounts owed to/(from) other entities
LJ Maple Duke Holdings Limited	Loan receivable		—			—			285,000		285,000
LJ Maple St Johns Wood Limited	Loan receivable		—			—			183,306		183,306
LJ Maple Kensington Limited	Loan receivable		—			—			23,020		23,020
LJ Maple Belgravia Limited	Cash advances		—			3,430			3,430		3,430
LJ Maple Kensington Limited	Cash advances		—			41,699			41,699		41,699
LJ Maple Limited	Cash advances		—			119,119			119,119		119,119
LJ Maple St Johns Wood Limited	Cash advances		—			75,510			75,510		75,510


		Transaction value					Balance
Related Party	Nature of RPT	Q3 2022		Q3 2021			Q3 2022			Q4 2021
LJ Maple Abbey Limited	Cash advances		—		85,850			85,850			85,850
LJ Maple Chelsea Limited	Cash advances		—		119,010			119,010			119,010
LJ Maple Hill Limited	Cash advances		—		136,567			136,567			136,567
LJ Maple Tofty Limited	Cash advances		—		231,186			231,186			231,186
LJ Maple Kew Limited	Cash advances		—		4,441			4,441			4,441
LJ Maple Nine Elms Limited	Cash advances		—		(108,864	)		(108,864	)		(108,864	)
LJ Maple Hamlet Limited	Cash advances		—		(66,937	)		(66,937	)		(66,937	)
LJ Maple Circus Limited	Cash advances		—		(25,228	)		(25,228	)		(25,228	)
LJ Maple Duke Limited	Cash advances		—		(1,618	)		(1,618	)		(1,618	)
Stratford Corporate Trustees Ltd	Expenses receivable		54,560		70,742			—			21,000
Lepe Partners LLP	Expenses payable		—		(195	)		—			—

Total								1,105,491			1,126,491

Balances owed to or from the Group’s related parties which are included within debtors or creditors at

period-end

are set out in notes 13 and 14.

32.	Related party transactions

During the year the Group entered into the following transactions with related parties:


		Transaction value									Balance
Related Party	Nature of RPT	2021			2020			2019			2021			2020
Related Individuals
Ali Bouzarif	Revenue share		(532,073	)		—			—			(532,073	)		—

												(532,073	)		—

Amounts owed to group’s associates and JVs
Non-Executive Director of a trading subsidiary	Fees payable		—			(4,000	)		—						(2,000	)
Queensgate Investments 1 Sarl	Loan payable		—			—			—			(5,625	)
Queensgate Investments II GP LLP	Loan payable		—			—			—			(178,149	)		(178,149	)
Alvarium Wealth (NZ) Limited	Fees payable		(60,378	)		—			—			(34,113	)		—
Alvarium Investments (NZ) Limited	Fees payable		(137,497	)		(349,094	)		—			(137,497	)		—
Alvarium Capital Partners Limited	Expenses payable		218			—			—			(16	)		—
Alvarium Capital Partners Limited	Expenses receivable		—			—			—			—			52,376
Alvarium Capital Partners Limited	Loan payable		—			—			180,000			(63,385	)		(63,385	)
Alvarium Capital Partners Limited	Fees payable		(562,888	)		(15,519	)		—			(170,278	)		—
Alvarium Investment Managers (Suisse)	Fees payable		(55,623	)		23,252			(83,315	)		—			(33,124	)


		Transaction value								Balance
Related Party	Nature of RPT	2021			2020			2019		2021			2020
Cresco Urban Yurt SLP	Loan receivable		(89,944	)		—			—		—			71,524
Hadley DM Services Limited	Loan receivable		(62,606	)		(258,079	)		—		698,896			761,502
Hadley DM Services Limited	Loan interest		32,665			60,385			68,166		118,192			85,527
Hadley Property Group Limited	Loan receivable		—			—			—		—			40,000
Hadley Property Group Limited	Loan interest		—			3,671			4,000		—			29,413
NZ PropCo	Fees receivable		100,985			—			—		100,985			—
Osprey Equity Partners Limited	Loan receivable		(26,479	)		222,224			63,500		259,246			285,724
Osprey Equity Partners Limited	Expenses receivable		—			—			—		7,125			—
Pointwise Partners	Fees receivable		213,063			—			—		213,063			—
Pointwise Partners	Loan receivable		972,157			778,040			—		1,750,197			778,040
Queensgate Investments LLP	Expenses receivable		—			—			—		1,261			382

Total											5,771,802			4,669,533

Amounts owed to/(from) other entities
LJ Maple Duke Holdings Limited	Loan receivable		—			—			—		285,000			285,000
LJ Maple St Johns Wood Limited	Loan receivable		—			—			—		183,306			183,306
LJ Maple Kensington Limited	Loan receivable		—			—			—		23,020			23,020
LJ Maple Belgravia Limited	Cash advances		3,430			—			—		3,430			—
LJ Maple Kensington Limited	Cash advances		41,699			—			—		41,699			—
LJ Maple Limited	Cash advances		42,367			—			—		119,119			76,752
LJ Maple St Johns Wood Limited	Cash advances		75,510			—			—		75,510			—
LJ Maple Abbey Limited	Cash advances		85,850			—			—		85,850			—
LJ Maple Chelsea Limited	Cash advances		119,010			—			—		119,010			—
LJ Maple Hill Limited	Cash advances		136,567			—			—		136,567			—
LJ Maple Tofty Limited	Cash advances		231,186			—			—		231,186			—
LJ Maple Nine Elms Limited	Cash advances		(108,864	)		—			—		(108,864	)		—
LJ Maple Hamlet Limited	Cash advances		(66,937	)		—			—		(66,937	)		—
LJ Maple Circus Limited	Cash advances		(25,228	)		—			—		(25,228	)		—
LJ Maple Duke Limited	Cash advances		(1,618	)		—			—		(1,618	)		—
Stratford Corporate Trustees Ltd	Expenses receivable		—			21,000			—		21,000			21,000


		Transaction value								Balance
Related Party	Nature of RPT	2021		2020			2019			2021		2020
Lepe Partners LLP	Expenses payable		342		(6,080	)		—			—		(6,080	)
Wyndham Capital Management Limited	Fees payable		—		(350,249	)		(348,125	)		—		—

Total											1,122,050		582,998

Other transactions

In addition to the transactions disclosed above, the during 2020 Group divested 50% of its interest in Alvarium Investments (Aus) Ltd for AUS$1 to Tailorspace Inc, a shareholder in the Company.

During 2020, the Group acquired a subsidiary from LJ Portugal Ltd for a consideration of EUR578,335. LJ Portugal Ltd is related by virtue of having common shareholders.

Description of relationships

The nature of the relationship between the Group and its related parties can be seen in the subheadings above. Wyndham Capital Management Limited is an entity controlled by a significant shareholder in the Group.

There are certain related parties (such as employees and shareholders) of the Group that are copartners of the equity method investees and own voting shares. We have performed an assessment and have determined that this does not give the Group control of the investees. The investments are made separately to the terms of employment or ownership of the Group, and the related parties are not bound by any contractual or other agreement to vote in the same way as the Group.

Related Party Transactions

Note 5 — Related Party Transactions

Founder Shares

On December 31, 2020, the Company issued an aggregate of 7,187,500 founder shares to the Sponsor for an aggregate purchase price of $25,000, or approximately $0.003 per share, in cash. In February 2021, the Sponsor transferred an aggregate of 75,000 founder shares to its independent directors. On February 23, 2021, the Company effectuated a recapitalization, and as a result, the initial shareholders held 8,625,000 founder shares, including up to 1,125,000 founder shares which were subject to forfeiture by the Sponsor, if the over-allotment option was not exercised by the underwriters in full. As a result of the underwriters’ full exercise of their over-allotment option on February 26, 2021, none of the Class B ordinary shares are subject to forfeiture any longer.

30-trading

day period commencing at least 150 days after the initial Business Combination, or (ii) the Company consummates a subsequent liquidation, merger, capital stock exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property.

Promissory Note

On December 31, 2020, the Sponsor issued to the Company an unsecured promissory note to borrow up to $250,000 to be used for a portion of the expenses of the IPO. These loans

were non-interest bearing, unsecured

and were due at the earlier of September 30, 2021 or the closing of the IPO. As of February 26, 2021, the Company had borrowings of $144,890 under the promissory note, and on February 26, 2021, repaid the $144,890 from the proceeds of the IPO.

Working Capital Loans

In order to fund working capital deficiencies or finance transaction costs in connection with an initial Business Combination, the Sponsor, the Company’s officers, directors or their affiliates may, but are not obligated to, loan the Company funds from time to time as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company will repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible into Private Warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Warrants.

On May 25, 2022, the Company issued an unsecured promissory note (the “Working Capital Note”) in the principal amount of $500,000 to the Sponsor, which was funded in its entirety by the Sponsor upon execution of the Working Capital Note. The Working Capital Note does not bear interest and the principal balance will be payable on the earlier to occur of (i) the date on which the Company consummates its initial Business Combination and (ii) the date that the winding up of the Company is effective (such earlier date, the “Maturity

Date”). In the event the Company consummates its initial Business Combination, the Sponsor has the option, on the Maturity Date, to convert all or any portion of the principal outstanding under the Working Capital Note into that number of warrants (“Working Capital Warrants”) equal to the portion of the principal amount of the Working Capital Note being converted, divided by $1.00, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the Private Warrants, including the transfer restrictions applicable thereto. The Working Capital Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Working Capital Note and all other sums payable with regard to the Working Capital Note becoming immediately due and payable. The issuance of the Working Capital Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

As of September 30, 2022 and December 31, 2021, the Company had $477,038 and $0 borrowings under the Working Capital Note, net of debt discount of $22,962 and $0, respectively.

Administrative Service Fee

The Company agreed to pay the Sponsor $10,000 per month for office space, utilities, secretarial support and administrative services. The Company began incurring these fees on February 23, 2021 and will continue to incur these fees monthly until the earlier of the completion of an initial Business Combination and the Company’s liquidation. For the three and nine months ended September 30, 2022, the Company incurred $30,000 and $90,000 in such fees, respectively, of which $10,000 are included in accrued expenses in the accompanying condensed balance sheets as of September 30, 2022. For the three and nine months ended September 30, 2021, the Company incurred and paid $30,000 and $80,000 in such fees, respectively.

Note 5 — Related Party Transactions

Founder Shares

The initial shareholders have agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until the earlier of (i) one year after the date of the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (ii) the Company consummates a subsequent liquidation, merger, capital share exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property.

Promissory Note

On December 31, 2020, the Sponsor issued to the Company an unsecured promissory note to borrow up to $250,000 to be used for a portion of the expenses of the IPO. These loans were

non-interest bearing,

unsecured and were due at the earlier of June 30, 2021 or the closing of the IPO. As of February 26, 2021, the Company had borrowings of $144,890 under the promissory note, and on February 26, 2021, repaid the $144,890 from the proceeds of the IPO. As of December 31, 2021, the Company had no outstanding borrowings under the promissory note.

Working Capital Loans

In order to fund working capital deficiencies or finance `transaction costs in connection with an initial Business Combination, the Sponsor, the Company’s officers, directors or their affiliates may, but are not obligated to, loan

the Company funds from time o time as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company will repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible into Private Warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Warrants. As of December 31, 2021, the Company had no borrowings under Working Capital Loans.

Administrative Service Fee

Controlling Party

12 Months Ended

Dec. 31, 2021

Controlling Party [Abstract]

Controlling Party

33.	Controlling party

In the opinion of the directors, the company is not under the control of any single individual or entity.

Summary financial information for equity method investees

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Summary financial information for equity method investees

34.	Summary financial information for equity method investees

The

following tables summarise the financial information of the Group’s significant equity method investment reported to the Group by the management of those entities, adjusted for fair value adjustments at acquisition and differences in accounting policies.

Summary financial information for the year ended 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		10,484,310			3,973,114			794,888			150,256			1,868,300			54,279,088			1,652,717			—
Cost of sales		(9,239,869	)		(2,677,306	)		(535,380	)		—			(818,137	)		(43,903,091	)		(1,578,183	)		—

Gross profit/(loss)		1,244,441			1,295,808			259,508			150,256			1,050,163			10,375,997			74,534			—
Administrative expenses / Other income		(1,174,100	)		(540,103	)		(116,050	)		(323,644	)		(73,124	)		(34,753,384	)		(292,903	)		1,991,460

Operating profit/(loss)		70,341			755,705			143,458			(173,388	)		977,039			(24,377,387	)		(218,369	)		1,991,460
Taxation on ordinary activities		—			(138,695	)		—			—			—			8,986,845			—			—

Profit/(loss) for the financial year		70,341			617,010			143,458			(173,388	)		977,039			(15,390,542	)		(218,369	)		1,991,460


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%
Turnover		1,091,744			1,506,469			2,124,445			5,451,611			5,095,381			12,164,600			13,815,121			2,791,256
Cost of sales		(329,166	)		(1,162,085	)		(1,181,879	)		(4,508,831	)		(2,306,806	)		(1,380,900	)		(6,169,248	)		(830,351	)

Gross profit/(loss)		762,578			344,384			942,566			942,780			2,788,575			10,783,700			7,645,873			1,960,905
Administrative expenses / Other income		(114,898	)		(284,598	)		(44,488	)		(503,255	)		(2,798,346	)		(6,705,306	)		(7,142,166	)		(2,523,031	)

Operating profit/(loss)		647,680			59,786			898,078			439,525			(9,771	)		4,078,394			503,707			(562,126	)
Taxation on ordinary activities		—			—			—			(54,373	)		—			(1,366,673	)		(1,113,974	)		237,838

Profit/(loss) for the financial year		647,680			59,786			898,078			385,152			(9,771	)		2,711,721			(610,267	)		(324,288	)

Summary financial information as at 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		21,259			515,420			483			491			2,904			9,338,733			5,601			—
Current assets		9,893,323			2,199,523			482,173			271,878			528,167			180,294,696			1,249,988			3,703,197

Total assets		9,914,582			2,714,943			482,656			272,369			531,071			189,633,429			1,255,589			3,703,197

Current liabilities		(5,446,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(4,867,040	)		(2,290,239	)		—
Non-current liabilities		(1,875,000	)		—			—			—			—			(224,272,257	)		—			—

Total liabilities		(7,321,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(229,139,297	)		(2,290,239	)		—

Net assets		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Capital and reserves
Called up share capital		—			100,110			14			600			—			—			—			—
Share premium		—			50,055			999,996			—			—			—			—			—
Members’ interests		2,592,981			—			—			—			429,448			—			—			3,703,197
Profit and loss account Non-controlling interest		—			1,511,457			(599,403	)		2,516			—			(39,505,868	)		(1,034,650	)		—

Shareholders funds		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		777,894			498,487			120,182			1,558			214,724			(9,086,350	)		(517,325	)		1,481,279
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		(23,059	)		—			—			—			—			9,086,350			517,325			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		850,543			—			—			—			56,211			—			—			41,984

Carrying amount of goodwill		—			505,206			—			—			—			—			—			—
Carrying amount of net investment		1,605,378			498,487			120,182			1,558			270,935			—			—			1,523,263


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		—			169,543			—			289,070			297,121			178,819,520			8,765,173			24,146,342
Current assets		303,313			706,121			261,633			3,132,832			1,155,802			3,241,332			8,094,719			4,047,343

Total assets		303,313			875,664			261,633			3,421,902			1,452,923			182,060,852			16,859,892			28,193,685

Current liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(3,216,513	)		(4,382,663	)		(7,982,267	)
Non-current liabilities		—			—			—			—			—			(170,209,878	)		(9,020,628	)		(24,280,110	)

Total liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(173,426,391	)		(13,403,291	)		(32,262,377	)

Net assets		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			102,098
Share premium		—			—			—			—			—			—			—			—
Members’ interests		57,107			—			—			—			—			—			—			(815,518	)
Profit and loss account Non-controlling interest		—			(865,337	)		178,569			1,934,477			(1,199,412	)		5,599,065 3,035,343			3,450,210			(3,355,272	)

Shareholders funds		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		19,036			(281,398	)		66,523			650,190			(419,759	)		2,575,594			1,724,844			(1,414,144	)
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			281,398			—			—			419,759									1,827,368
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		—			—			—			—			—									—
Carrying amount of goodwill		—			—			—			—			—			—			2,834,940			—

Carrying amount of net investment		19,036			—			66,523			650,190			—			2,575,594			1,724,844			413,224

Summary financial information for the year ended 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		7,145,050			3,715,933			598,419			246,777			1,296,358			56,697,480			—			—
Cost of sales		(5,495,752	)		(2,661,482	)		(674,137	)		—			(745,334	)		(47,481,189	)		(613,433	)		—

Gross profit/(loss)		1,649,298			1,054,451			(75,718	)		246,777			551,024			9,216,291			(613,433	)		—
Administrative expenses / Other income		(1,095,542	)		(448,474	)		(247,390	)		(453,889	)		(58,819	)		(43,206,790	)		(202,858	)		2,577,767

Operating profit/(loss)		553,756			605,977			(323,108	)		(207,112	)		492,205			(33,990,499	)		(816,291	)		2,577,767
Taxation on ordinary activities		(10,948	)		(121,196	)		—			(1,096	)		—			10,665,485			—			—

Profit/(loss) for the financial year		542,808			484,781			(323,108	)		(208,208	)		492,205			(23,325,014	)		(816,291	)		2,577,767


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other

Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20 % - 50	%
Turnover		1,028,927			1,359,511			1,935,905			4,665,968			9,632,109			7,064,322			13,702,036			4,139,503
Cost of sales		(497,635	)		(1,057,493	)		(1,039,581	)		(3,898,629	)		(6,160,080	)		(593,579	)		(6,557,180	)		(2,277,412	)

Gross profit/(loss)		531,292			302,018			896,324			767,339			3,472,029			6,470,743			7,144,856			1,862,091
Administrative expenses / Other income		(111,313	)		(564,828	)		(63,558	)		(722,925	)		(2,391,764	)		(3,945,098	)		(6,914,413	)		(2,220,074	)

Operating profit/(loss)		419,979			(262,810	)		832,766			44,414			1,080,265			2,525,645			230,443			(357,983	)
Taxation on ordinary activities		—			—			—			(77,134	)		213,877			(745,731	)		(945,264	)		(4,280	)

Profit/(loss) for the financial year		419,979			(262,810	)		832,766			(32,720	)		1,294,142			1,779,914			(714,821	)		(362,263	)

Summary financial information as at 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kai rock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		45,948			220,000			30,233			1,140			3,739			15,693,138			4,427			—
Current assets		13,000,933			2,523,939			363,186			541.069			507,738			276,441,912			9,060			2,475,034

Total assets		13,126,881			2,743,947			401,419			542,217			511,477			292,135,050			13,487			2,475,034

Current liabilities		(6,621,633	)		(1,210,347	)		(144,260	)		(365,713	)		(207,610	)		(132,249,357	)		(829,778	)		—
Non-current liabilities		(2,000,000	)		—			—			—			—			(181,186,081	)		—			—

Total liabilities		(8,621,633	)		(1,210,347	)		(144,268	)		(365,713	)		(207,610	)		(313,435,438	)		(829,778	)		—

Net assets		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Capital and reserves
Called up share capital		—			102,055			14			600			—			—			—			—
Share premium		—			51,028			999,996			—			—			—			—			—
Members’ interests		4,505,248			—			—			—			303,067			—			—			2,475,034
Profit and loss account
Non-controlling interest		—			1,300,517			(742,059	)		175,904			—			(21,300,380	)		(816,291	)		—

Shareholders funds		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Expected carrying amount of net investment		1,351,574			460,080			77,145			88,252			151,934			(4,899,089	)		(408,146	)		990,014
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			—			—			—			—			4,899,089			408,146			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		77,158												52,474									77,206

Carrying amount of goodwill		—			586,058			—			—			—			—			—			—
Carrying amount of net investment		1,428,732			460,080			77,145			88,252			204,407			—			—			1,067,220


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		860			202,620			—			372,423			46,621			251,644,701			10,207,395			3,615,604
Current assets		184,529			459,323			333,035			3,686,144			1,610,855			27,335			7,720,822			4,891,470

Total assets		185,339			661,943			333,035			4,058,567			1,657,476			251,672,036			17,928,217			8,507,074

Current liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,836,009	)		(6,362,727	)		(3,701,089	)		(6,421,020	)
Non-current liabilities		—			—			—			—			(11,008	)		(242,402,590	)		(10,155,392	)		(4,065,836	)

Total liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,847,017	)		(248,765,317	)		(13,856,481	)		(10,486,856	)

Net assets		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			109,696
Share premium		—			—			—			—			—			—			—			—
Members’ interests		74,453			—			—			—			—			—			—			(1.047,399	)
Profit and loss account		—			(980,970	)		186,602			1,657,264			(1,189,641	)		3,385,592			4,065,345			(1,042,079	)
Non-controlling interest																	(478,926	)					—

Shareholders funds		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Expected carrying amount of net investment		24,815			(319,910	)		69,193			557,730			(416,339	)		1,557,397			2,031,796			(938,404	)
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			319,910			—			—			416,339									1,278,487
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		15,161			—			—			—			—									—

Carrying amount of goodwill		—			—			—			—			—			—			3,476,813			—
Carrying amount of net investment		39,976			—			69,193			557,730			—			1,557,397			2,031,796			340,083

Summary financial information for the year ended 31 December 2019


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		9,318,930			3,734,355			695,653			2,541,262			1,502,952			475,584			—			867,399
Cost of sales		(6,617,096	)		(2,857,802	)		(781,830	)		—			(531,801	)		(319,739	)		—			—

Gross profit/(loss)		2,701,834			876,553			(86,177	)		2,541,262			971,151			155,845			—			867,399
Administrative expenses / Other income		(1,455,902	)		(341,173	)		(175,001	)		(4,122,626	)		(91,342	)		(3,087,680	)		—			—

Operating profit/(loss)		1,245,932			535,380			(261,178	)		(1,581.364	)		879,809			(2,931,835	)		—			867,399
Taxation on ordinary activities		(20,111	)		(107,076	)		—			—			—			1,900,617			—			—

Profit/(loss) for the financial year		1,225,821			428,304			(261,178	)		(1,581,364	)		879,809			(1,031,218	)		—			867,399


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		50	%		49.90	%		20% - 50	%
Turnover		1,230,305			1,361,224			2,182,515			5,101,052			3,731,411			14,526,570			12,636,547			2,824,340
Cost of sales		(440,954	)		(799,564	)		(1,261,331	)		(3,058,558	)		(1,772,859	)		(10,694,878	)		(5,797,619	)		(1,839,199	)

Gross profit/(loss)		789,351			561,660			921,184			2,042,494			1,958,552			3,831,692			6,838,928			985,141
Administrative expenses / Other income		(152,634	)		(820,363	)		(149,279	)		(1,584,575	)		(2,972,970	)		(2,725,155	)		(6,121,790	)		(1,683,347	)

Operating profit/(loss)		636,717			(258,703	)		771,905			457,919			(1,014,418	)		1,100,537			717,138			(698,206	)
Taxation on ordinary activities		—			—			—			(155,940	)		(1,578	)		(421,147	)		(1,032,764	)		(24,794	)

Profit/(loss)for the financial year		636,717			(258,703	)		771,905			301,979			(1,015,996	)		685,390			(315,626	)		(723,000	)

For equity method investees which are governed by a limited liability partnership, the Group’s share of net assets from limited liability partnerships is determined by the underlying partnership agreements, rather than the Group’s percentage holding in these entities.

The Group’s policy for discontinuing recognition of losses in investments where the carrying value is nil is disclosed in note 2 of these financial statements.

Significant Differences Between Generally Accepted Accounting Policies in the United Kingdom (UK GAAP) and those of the United States (US GAAP)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Significant Differences Between Generally Accepted Accounting Policies in the United Kingdom (UK GAAP) and those of the United States (US GAAP)

20.	Significant differences between generally accepted accounting policies in the United Kingdom (UK GAAP) and those of the United States (US GAAP)

The Company’s financial statements have been prepared in accordance with FRS 102, which differs in certain respects from the requirements of accounting principles generally accepted in the United States (“US GAAP”). The effects of the application of US GAAP to Alvarium Investments Limited (“the Company”) results are set out below.

There are other presentational differences between UK and US GAAP which do not impact net income or shareholders’ equity, and thus are not included in the reconciliation below.

The impact of the conversion to US GAAP on net income in the periods ending 30 September 2022 and 30 September 2021 is as follows:


	30 Sep 22 £			30 Sep 21 £
Loss for the financial period as reported under UK GAAP		(10,046,718	)		4,560,946
Reversal of amortisation of goodwill (d)		2,617,635			2,553,677
Amortisation of separately recognised intangible assets arising on business combinations (a)		(60,971	)		(61,429	)
Additional amortisation of intangible asset grossed up for deferred tax under US GAAP (n)		(467,593	)		—
Reclassification of asset acquisition as business combination (g)		956,172			956,172
Reversal of equity method investment amortisation (h)		535,338			532,435
Amortisation of additional intangible assets within equity method investments (i)		(328,911	)		(374,592	)
Release of deferred tax on equity method amortisation above (i)		62,236			71,023
Recognition of excess losses against loans provided to certain equity method investees (k)		(219,128	)		(262,107	)
Revenue recognition adjustments (m)		(1,076,087	)		(90,827	)
Impact of GAAP differences on results of equity method investments (l)		(221,635	)		—
Deferred tax (expense)/benefit (0)		648,771			(3,965,949	)

Net income under US GAAP		(7,600,891	)		3,919,349
Net income attributable to non-controlling interest under US GAAP		8,652			(540,135	)

Net income attributable to shareholders’ of the parent company under US GAAP		(7,592,239	)		3,379,214

The impact of the conversion to US GAAP on shareholders funds as at 30 September 2022 and 31 December 2021 is as follows:


	2022 £			2021 £
Shareholders funds as at 30 September 2022 and 31 December 2021 as reported under UK GAAP		48,391,408			56,305,169
Reversal of amortisation of goodwill (d)		21,692,608			19,074,973
Impact on goodwill of additional deferred tax liabilities recognised on acquisition (a)		5,284,823			5,284,823
Impact on intangible assets of additional deferred tax liabilities recognised on asset acquisition (o)		12,827,094			—
Amortisation of separately recognised intangible assets arising on business combinations (a)		(687,389	)		(626,418	)
Additional amortisation of intangible asset grossed up for deferred tax under US GAAP (n)		(467,593	)		—
Reclassification of asset acquisition as business combination ( g)		4,780,860			3,824,688
Fair value adjustments on step acquisitions (f)		11,471,931			11,471,931
Acquisition costs and fair value adjustments to deferred consideration previously capitalised (b) & (c)		(1,695,685	)		(1,695,685	)
Fair value adjustments on non-controlling interests (e)		10,933,918			10,933,918
Revenue recognition adjustments (m)		(2,039,661	)		(963,574	)
Reversal of equity method investment amortisation (h)		4,564,243			4,028,905
Accumulated amortisation of additional intangible assets within equity method investments (i)		(5,684,351	)		(5,355,440	)
Release of deferred tax on equity method amortisation above (i)		1,078,926			1,016,690
Additional impairment of investment in joint venture (j)		(254,152	)		(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(1,876,103	)		(1,611,431	)
Impact of GAAP differences on results of equity method investments (l)		—			221,635
Deferred taxes (p)		(18,947,266	)		(6,768,943	)
Cumulative translation adjustments on all of the above		1,761,311			323,116

Shareholders funds as at 30 September 2022 and 31 December 2021 under US GAAP		91,134,922			95,210,205
Non-controlling interest		(5,103	)		(13,475	)

Total equity attributable to shareholders’ of the parent company under US GAAP		91,129,819			95,196,730

The impact of the conversion to US GAAP on the Company’s statement of cashflows for the periods ended 30 September 2022 and 2021 is as follows:


	30 Sep 2022 £			30 Sep 2021 £
Operating activities

Net cash from operating activities per UK GAAP		1,085,801			6,055,053
Reclassification of interest received from investing activities		93,090			40,966
Reclassification of interest paid from financing activities		(3,167,353	)		(476,958	)

Net cash from operating activities per US GAAP		(1,988,462	)		5,619,061

Investing activities

Net cash used in investing activities per UK GAAP		706,684			(5,019,607	)
Reclassification of interest received to operating activities		(93,090	)		(40,966	)
Reclassification of transactions between equity holders		15,615			1,596,107

Net cash used in investing activities per US GAAP		629,209			(3,464,466	)

Financing activities

Net cash (used in)/ from financing activities per UK GAAP		(3,294,527	)		456,865
Reclassification of interest paid to operating activities		3,167,353			476,958
Reclassification of transactions between equity holders		(15,615	)		(1,596,107	)

Net cash (used in)/ from financing activities per US GAAP		(142,789	)		(662,284	)

Net change in cash and cash equivalents from UK to US GAAP		—			—

In addition, the Company had

non-cash

financing activity of £9.4m relating to a loan from shareholders for the period ended 30 September 2021.

Business combinations

(a) Intangible assets other than goodwill

Under FRS102 for acquisitions made after 1 January 2019, intangible assets other than goodwill are only required to be recognised to the extent that they are both separable and arise from contractual rights.

Under US GAAP intangible assets that are either separable or arise from contractual rights are required to be recognised. This leads to the recognition of additional intangible assets under US GAAP than under FRS102 for acquisitions made by the Company after 1 January 2019.

Due to the recognition of additional deferred tax liabilities under US GAAP compared to UK GAAP, the amount of goodwill recognized in the previous business combination accounting has also increased.

(b) Expense acquisition costs

Under FRS102, acquisition costs incurred by the acquirer are capitalised as part of the purchase consideration for the acquisition.

Under US GAAP, these are required to be charged to acquisition costs in the income statement.

Under FRS102, any fair value adjustments to deferred consideration outside the measurement period can be adjusted against goodwill.

Under US GAAP, any fair value adjustments outside the measurement period are adjusted through the P&L.

(d) Goodwill amortisation

Under FRS 102, goodwill is presumed to have a finite useful economic life and is recorded at cost less accumulated amortisation and impairment. Accordingly, the Company amortised goodwill on a straight-line basis over an estimated useful life of 10 years.

US GAAP prohibits the amortisation of goodwill and instead requires that goodwill be tested at least annually for impairment or more frequently if impairment indicators exist. Amortisation expense recognised under FRS 102 was reversed under US GAAP.

(e)

Non-controlling

interest

Under FRS102, no goodwill is recognised for the

non-controlling

interest of an acquired company.

Under US GAAP, goodwill is recognised on the entire Company acquired, including the amount pertaining to the

non-controlling

interest. This has led to conversion adjustments in respect of two acquisitions made in 2019 by the Company.

(f) Step acquisitions

Under FRS102 where control of a subsidiary is achieved in stages, no fair value adjustments are made to any existing holdings in the subsidiary.

Under US GAAP where control of a subsidiary is achieved in stages, any existing holdings in the subsidiary are fair valued with any resulting gain or loss recorded in the income statement. This has led to reconciliation adjustments in respect of two acquisitions made in 2019 by the Company, along with a further three in 2015.

(g) Reclassification of asset acquisition as business combination

In February 2019 the Company acquired certain assets from LEPE Partners LLP, a merchant banking business. Under UK GAAP this did not meet the definition of a business combination. One customer related intangible asset of £

12,748,964

was recognised and is being amortised over

years. Under US GAAP, following the application of the screening test to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single asset or a group of similar assets, it was determined that this met the definition of a business combination.

This is the impact of the reversal of the amortisation recorded under UK GAAP, as Goodwill, which is not amortisable, would have been recognised for US GAAP.

Investments in joint ventures and associates

(h) Implied goodwill amortisation

Under FRS102 any implied goodwill arising on the acquisition of an interest in a joint venture or associate is amortised over a period of 10 years.

Under US GAAP no such amortisation charge is booked. This has led to the reversal of any accumulated amortisation on implied goodwill recorded by the Company under FRS102.

(i) Separate intangible assets arising on acquisition of an equity method investment

Under US GAAP where implied goodwill on an acquisition arises, this is required to be assessed for separate intangible assets. This has given rise to separate intangible assets being identified in respect of two of the Company’s equity method investments. These intangible assets have then been amortised over their estimated useful economic lives through the Company’s share of profits from joint ventures and associates. The deferred tax impact of the recognition of such intangible assets has also been recognised.

Such intangible assets are not required to be recognised and amortised under UK GAAP.

(j) Additional impairment of equity method investments

Given the reversal of the implied goodwill amortisation, under US GAAP the goodwill is required to be assessed for impairment at each reporting date. As a result of this, an additional impairment has been recorded compared to that reported under UK GAAP.

(k) Treatment of losses in excess of investment in equity method investments

Under UK GAAP, when the Group’s share of losses of an associate or joint venture investment equals or exceeds the carrying amount of its investment, the Group stops recognising its share of further losses. The Group recognises its share of any subsequent profits only after its share of profits equals its share of losses not recognised.

Under US GAAP excess losses are offset against the Group’s other interests in the investee, including loans advanced.

(l) Impact of GAAP differences on results of equity method investments

In 2022 an equity method investee had amortised goodwill on its own balance sheet under UK GAAP. Conversion of these results to US GAAP has resulted in the reversal of this amortisation amounting to £221,635.

(m) Revenue Recognition

Upon the adoption of ASC 606, various adjustments to revenue impacted current and prior period FRS102 revenue recognition, primarily due to when performance obligations were considered satisfied under FRS102 compared to US GAAP, under ASC 606.

The Company’s full accounting policy for revenue recognition under FRS102 can be found on in the accounting policies disclosed to note 3 in these financial statements.

The Company’s full accounting policy for revenue recognition under US GAAP is detailed below:

Revenue recognition differs under ASC 606, which applies a specific 5 step model, which results in certain adjustments when compared to revenue recognized under FRS 102. The five step model applies under ASC 606 is as follows.

1. Identification of contract with customer

2. Identification of performance obligation

3. Determination of transaction price

4. Allocation of transaction to performance obligation

5. Recognition of revenue when performance obligations are met.

For the purposes of this reconciliation, the Company considered the adoption date of ASC 606 to be 1/1/2018.

The difference in policy resulted in differences in the following revenue recognition differences:

Corporate finance engagements

•

Within the Merchant Banking division, it was noted that under US GAAP, retainer fees should be recognized in line with completion of the related performance obligation. Under FRS 102, such fees were recognized when received. This resulted in timing adjustments which decreased revenue by £193,765 in the nine months ended 30 September 2021 and decreased revenue by £1,076,087 in the nine months ended 30 September 2022.

•

In the

Co-investment

division, an advisory fee that was recognised fully in 2018 under UK GAAP was noted as needing to be recognised over the life of the contract (2019 to 2021) commensurate with the satisfaction of the performance obligation under US GAAP. Recognising this revenue over time in line with the performance obligation has resulted in an increase of revenue of £102,938 in the nine months ended 30 September 2021, as revenue has been deferred to match the Group’s satisfaction of the underlying performance obligation.

UK Investment advisory revenue, Overseas Investment advisory revenue, Trust and fiduciary

revenue, Private and family office revenue

The five step model was applied to the variable consideration revenue recognised in the Family Office Services and Investment Advisory divisions. US GAAP requires recognition of variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognised will not occur when the uncertainty associated with the variable consideration is resolved subsequently. Under FRS 102, such revenue was recognised based on the best estimate at the time it was recorded. From the analysis performed, the Group noted no significant differences requiring adjustment.

(n) Additional amortisation of intangible asset grossed up for deferred tax under US GAAP.

Under UK GAAP, deferred tax is not recognised in relation to timing differences arising from assets or liabilities acquired in a transaction which is not accounted for as a business combination.

Under US GAAP, where such assets or liabilities are acquired deferred tax is accounted for using the simultaneous equation method as set out in ASC 740.

In relation to an asset acquisition made during 2022, this has resulted in an additional deferred tax liability of £12,827,094 being recognised under US GAAP with a corresponding increase also recorded in intangible assets. The additional amortisation arising on this grossed up intangible asset is £467,593.

(o) Impact on intangible assets of additional deferred tax liabilities recognised on asset acquisition.

Under UK GAAP, deferred tax is not recognised in relation to timing differences arising from assets or liabilities acquired in a transaction which is not accounted for as a business combination.

Under US GAAP, where such assets or liabilities are acquired deferred tax is accounted for using the simultaneous equation method as set out in ASC 740.

(p) Income taxes

A reconciliation of the income tax expense/(credit) under UK GAAP to US GAAP is given below.


	30 Sep 22 £			30 Sep 21 £
Income tax expense/(credit) under UK GAAP		(654,170	)		(613,258	)

Recognition of deferred taxes in respect of non-tax adjustments (1)		(648,771	)		1,548,118
Impact of a transaction in the subsequent events window on UK deferred tax assets (2)		—			2,417,831

Total adjustment to deferred tax expense/(benefit)		(648,771	)		3,965,949

Income tax expense/(credit) US GAAP		(1,302,941	)		3,352,691

A reconciliation of the deferred tax asset/(liability) under UK GAAP to US GAAP is given below.


	30 Sep 22 £			31 Dec 21 £
Deferred tax asset/(liability) under UK GAAP		3,163,812			2,146,091

Recognition of deferred taxes in respect of non-tax adjustments (1)		(6,120,172	)		(6,768,943	)
Impact of additional deferred tax arising on asset acquisition (3)		(12,827,094	)		—

Total adjustment to deferred tax asset/(liability)		(18,947,266	)		(6,768,943	)

Deferred tax asset/(liability) under US GAAP		(15,783,454	)		(4,622,852	)

(1) Deferred taxes in respect of

non-tax

adjustments

This line represents the

tax-effect

non-tax

adjustments including the effects of valuation allowance adjustments and tax rate changes in the UK on the additional deferred tax assets and liabilities recognised under US GAAP.

(2) Impact of a transaction in the subsequent events window on UK deferred tax assets

In January 2021 the group increased its shareholding in a UK subsidiary from 59% to 83% through a transaction with noncontrolling interests. This resulted in that subsidiary being able to utilise the group’s UK tax losses and timing differences.

Under UK GAAP, transactions with noncontrolling interests that take place in the subsequent events window are not considered in the assessment of the realizability of deferred tax assets. Under US GAAP, this is considered to be an adjusting subsequent event and therefore the transaction is brought into consideration in assessing the realizability of the group’s UK deferred tax assets.

If this source of income had been considered in assessing the realizability of deferred tax assets, a deferred tax asset of £2,417,831 would have been recognised in the period ended 31 December 2020 instead of the period ended 30 September 2021 under UK GAAP. This has resulted in earlier recognition of this asset under US GAAP than under UK GAAP.

(3) Impact of additional deferred tax arising on asset acquisition

In July 2022 the group acquired a company which owned one contract based intangible asset. Under UK and US GAAP this was not considered to meet the definition of a business and hence it has been accounted for as an asset acquisition under both standards.

Under UK GAAP, no deferred tax is accounted for on such transactions and any timing differences are considered to be permanent in nature.

Under US GAAP, deferred tax is accounted for on such transactions using the simultaneous equation method of accounting. As a result under US GAAP additional deferred tax liabilities of £12,827,094 compared to those recognised under UK GAAP.

(q) Leases

Under UK GAAP, rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. These operating leases are kept

off-balance

sheet.

Under U.S. GAAP the Group will apply ASC 842 which includes operating leases on the balance sheet through a gross up with the recognition of

right-of-use

assets and associated lease liabilities. However, upon adoption of ASC 842, there are no net differences between US GAAP and U.K. GAAP with respect to net income, the Statement of Changes in Equity, or the Statement of Cash Flows.

Additionally, the application of ASC 842 does not have a significant impact on the Group’s Statement of Cash Flows or Income Statement for the nine month period ended 30 September 2022. The gross up on the balance sheet will be reflected in recognition of

right-of-use

assets of £9,451,484, lease incentives of £2,610,363, deferred rent of £142,447 and lease liabilities of £12,275,537.

35.	Significant differences between generally accepted accounting policies in the United Kingdom (UK GAAP) and those of the United States (US GAAP)

There are other presentational differences between UK and US GAAP which do not impact net income or shareholders’ equity, and thus are not included in the reconciliation below.

The impact of the conversion to US GAAP on net income in the periods ending 31 December 2021, 2020 and 2019 is as follows:


	2021 £			2020 £			2019 £
Profit/(loss) for the financial year as reported under UK GAAP		1,947,874			(3,377,191	)		(3,733,094	)
Reversal of amortisation of goodwill (d)		3,429,870			3,488,827			2,836,126
Amortisation of separately recognised intangible assets arising on business combinations (a)		(81,761	)		(82,850	)		(461,807	)
Reclassification of asset acquisition as business combination (g)		1,274,896			1,274,896			1,274,896
Expense acquisition costs previously capitalised (b)		—			—			(380,290	)
Fair value adjustments on step acquisitions (f)		—			—			10,021,062
Reversal of equity method investment amortisation (h)		710,194			715,400			690,987
Amortisation of additional intangible assets within equity method investments (i)		(485,647	)		(660,093	)		(824,297	)
Release of deferred tax on equity method amortisation above (i)		91,967			125,104			156,393
Additional impairment of investment in joint venture (j)		—			—			(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(126,797	)		(183,224	)		(603,290	)
Revenue recognition adjustments (m)		(609,183	)		161,990			(516,381	)
Fair value adjustment to deferred consideration (c)		—			(63,001	)		(111,242	)
Impact of GAAP differences on results of equity method investments (1)		221,635			(4,497,520	)		4,457,782
Deferred tax (expense)/benefit (n)		(3,870,387	)		501,961			1,890,505

Net income under US GAAP		2,502,661			(2,595,701	)		14,443,198
Net income attributable to non-controlling interest under US GAAP		(590,120	)		(1,246,901	)		(948,405	)

Net income attributable to shareholders’ of the parent company under US GAAP		1,912,541			(3,842,602	)		13,494,793

The impact of the conversion to US GAAP on shareholders funds as at 31 December 2021 and 2020 is as follows:


	2021 £			2020 £
Shareholders funds as at 31 December 2021, 2020 and 2019 as reported under UK GAAP		56,305,169			62,387,395
Reversal of amortisation of goodwill (d)		19,074,973			15,645,102
Impact on goodwill of additional deferred tax liabilities recognised on acquisition (a)		5,284,823			5,284,823
Amortisation of separately recognised intangible assets arising on business combinations (a)		(626,418	)		(544,657	)
Reclassification of asset acquisition as business combination ( g)		3,824,688			2,549,792
Acquisition costs and fair value adjustments to deferred consideration previously capitalised (b) & (c)		(1,695,685	)		(1,695,685	)
Fair value adjustments on step acquisitions (f)		11,471,931			11,471,931
Fair value adjustments on non-controlling interests (e)		10,933,918			10,933,918
Revenue recognition adjustments (m)		(963,574	)		(354,391	)
Reversal of equity method investment amortisation (h)		4,028,905			3,318,711
Accumulated amortisation of additional intangible assets within equity method investments (i)		(5,355,440	)		(4,869,793	)
Release of deferred tax on equity method amortisation above (i)		1,016,690			924,724
Additional impairment of investment in joint venture (j)		(254,152	)		(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(1,611,431	)		(1,519,133	)
Impact of GAAP differences on results of equity method investments ( 1)		221,635
Deferred taxes (n)		(6,768,943	)		(2,900,089	)
Cumulative translation adjustments on all of the above		323,116			441,843

Shareholders funds as at 31 December 2021 , 2020 and 2019 under US GAAP		95,210,205			100,820,339
Non-controlling interest		(13,475	)		(11,254,993	)

Total equity attributable to shareholders’ of the parent company under US GAAP		95,196,730			89,565,346

The impact of the conversion to US GAAP on the Company’s statement of cashflows for the years ended 31 December 2021, 2020 and 2019 is as follows:


	2021 £			2020 £			2019 £

Operating activities

Net cash from operating activities per UK GAAP Reclassification of interest received from investing		14,451,786			3,330,423			2,460,296
activities		43,210			59,402			10,206
Reclassification of interest paid from financing activities		(912,769	)		(628,992	)		(739,273	)
Net cash from operating activities per US GAAP		13,582,227			2,760,833			1,731,229


Investing activities

Net cash used in investing activities per UK GAAP Reclassification of interest received to operating		(9,746,698	)		(2,502,279	)		(14,039,229	)
activities		(43,210	)		(59,402	)		(10,206	)
Reclassification of transaction between equity holders		6,326,146			—			—
Net cash used in investing activities per US GAAP		(3,463,762	)		(2,561,681	)		(14,049,435	)

Financing activities

Net cash from financing activities per UK GAAP Reclassification of interest paid to operating		(38,748	)		422,543			5,588,869
activities		912,769			628,992			739,273
Reclassification of transaction between equity holders		(6,326,146	)		—			—
Net cash from financing activities per US GAAP		(5,452,125	)		1,051,535			6,328,142

Net change in cash from UK to US GAAP		—			—			—

In addition, the Company had

non-cash

financing activity of £10.3m relating to the issue of new share capital in exchange for the conversion of a shareholder loan and further shares in two subsidiary companies for the period ended 31 December 2021. The Group also received non-cash consideration of £1,607,301 as disclosed in note 13 of these financial statements.

Business combinations

(a) Intangible assets other than goodwill

Due to the recognition of additional deferred tax liabilities under US GAAP compared to UK GAAP, the amount of goodwill recognized in the previous business combination accounting has also increased.

(b) Expense acquisition costs

Under FRS102, acquisition costs incurred by the acquirer are capitalised as part of the purchase consideration for the acquisition.

Under US GAAP, these are required to be charged to acquisition costs in the income statement.

Under FRS102, any fair value adjustments to deferred consideration outside the measurement period can be adjusted against goodwill.

Under US GAAP, any fair value adjustments outside the measurement period are adjusted through the P&L.

(d) Goodwill amortisation

(e)

Non-controlling

interest

Under FRS102, no goodwill is recognised for the

non-controlling

interest of an acquired company.

Under US GAAP, goodwill is recognised on the entire Company acquired, including the amount pertaining to the

non-controlling

interest. This has led to conversion adjustments in respect of two acquisitions made in 2019 by the Company.

(f) Step acquisitions

Under FRS102 where control of a subsidiary is achieved in stages, no fair value adjustments are made to any existing holdings in the subsidiary.

Additionally, the restatement in relation to the historic accounting acquirer - detailed in the sole purpose 2020 and 2019 financial statements filed with the SEC - has led to three historic acquisitions being treated as step acquisitions. This has led to further fair value adjustments under US GAAP.

(g) Reclassification of asset acquisition as business combination

Under US GAAP, following the application of the screening test to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single asset or a group of similar assets, it was determined that this met the definition of a business combination.

This is the impact of the reversal of the amortisation recorded under UK GAAP, as Goodwill, which is not amortisable, would have been recognised for US GAAP.

Investments in joint ventures and associates

(h) Implied goodwill amortisation

Under FRS102 any implied goodwill arising on the acquisition of an interest in a joint venture or associate is amortised over a period of 10 years.

Under US GAAP no such amortisation charge is booked. This has led to the reversal of any accumulated amortisation on implied goodwill recorded by the Company under FRS102.

(i) Separate intangible assets arising on acquisition of an equity method investment

Such intangible assets are not required to be recognised and amortised under UK GAAP.

(j) Additional impairment of equity method investments

(k) Treatment of losses in excess of investment in equity method investments

Under US GAAP excess losses are offset against the Group’s other interests in the investee, including loans advanced.

(l) Impact of GAAP differences on results of equity method investments

In 2019 the Group entered into an associate arrangement in which it obtained a 23% ownership interest in NZ PropCo Holdings Limited. Subsequently, NZ PropCo Holdings Limited acquired a portfolio of properties which constitute a business combination. The initial business combination accounting differs between UK and US GAAP, specifically related to the difference between the fair value of assets acquired and the consideration paid, which resulted in a bargain purchase gain.

Under FRS102 bargain purchase gains are not recognised through income when a business combination occurs. These are deferred until the associated underlying assets are sold. This results in the entity being in a loss and net liability position for both 2019 and 2020. In an excess loss position, there is no value to recognise on the statement of financial position and the Group would only recognise a share of the entity profits when its investment moves into a profitable position.

Under US GAAP, assets are measured at fair value as of the acquisition date. This has led to the inclusion of a bargain purchase gain in 2019 which results in an adjustment from UK GAAP resulting in a share of profit being recognised. In 2020 the entity incurred losses in excess of the profit recognised in 2019. Under the equity method, losses are only recognised to the extent they do not reduce the carrying balance of the investment below zero. This has therefore resulted in a reversal of the gains from 2019.

Separately, in 2021 an equity method investee had amortised goodwill on its own balance sheet under UK GAAP. Conversion of these results to US GAAP has resulted in the reversal of this amortisation amounting to £221,635.

(m) Revenue Recognition

The Company’s full accounting policy for revenue recognition under FRS102 can be found on in the accounting policies disclosed to note 3 in these financial statements.

The Company’s full accounting policy for revenue recognition under US GAAP is detailed below:

1. Identification of contract with customer

2. Identification of performance obligation

3. Determination of transaction price

4. Allocation of transaction to performance obligation

5. Recognition of revenue when performance obligations are met.

For the purposes of this reconciliation, the Company considered the adoption date of ASC 606 to be 1/1/2018.

The difference in policy resulted in differences in the following revenue recognition differences:

Corporate finance engagements

•

decreased revenue by £241,881 in 2019, increased revenue

by £24,741 in 2020 and decreased revenue by £733,933 in 2021.

•

In the Co-investment division, an advisory fee that was recognised fully in 2018 under UK GAAP was noted as needing to be recognised over the life of the contract (2019 to 2021) commensurate with the satisfaction of the performance obligation under US GAAP. Recognising this revenue over time in line with the performance obligation has resulted in a decrease in revenue of £274,500 in 2019, an increase of revenue of

£137,250 in 2020 and an increase in revenue of £137,250 in 2021, as revenue has been deferred to match the Group’s satisfaction of the underlying performance obligation.

UK Investment advisory revenue, Overseas Investment advisory revenue, Trust and fiduciary

revenue, Private and family office revenue

(n) Income taxes

A reconciliation of the income tax expense/(credit) under UK GAAP to US GAAP is given below.


	2021 £			2020 £			2019 £

Income tax expense/(credit) under UK GAAP		(536,461	)		(315,163	)		511,024
Recognition of deferred taxes in respect of non-tax adjustments, other than the effect below (1)		(263,270	)		(31,320	)		(15,497	)
Recognition of deferred tax asset in respect of losses due to recognition of deferred tax liabilities (2)		—			—			(1,793,000	)
Recognition of French deferred tax asset in respect of losses due to recognition of deferred tax liabilities above (2)		(29,574	)		(95,454	)		(40,362	)
Impact of change in UK tax rate on deferred tax assets and liabilities recognised under US GAAP (3)		1,745,400			585,000			—
Impact of change in French tax rate on deferred tax liabilities recognised under US GAAP (5)		—			—			(41,646	)
Deferred tax assets no longer supported by deferred taxes from non-tax adjustments (4)		—			1,457,644			—

Total deferred taxes in respect of non-tax adjustments		1,452,556			1,915,870			(1,890,505	)
Impact of a transaction in the subsequent events window on UK deferred tax assets (5)		2,417,831			(2,417,831	)		—

Total adjustment to deferred tax expense/(benefit)		3,870,387			(501,961	)		(1,890,505	)

Income tax expense/(credit) US GAAP		3,333,926			(817,124	)		(1,379,481	)

A reconciliation of the deferred tax asset/(liability) under UK GAAP to US GAAP is given below.


	202 1 £			2020 £
Deferred tax asset/(liability) under UK GAAP		2,146,091			791,503
Impact of a transaction in the subsequent events window on UK deferred tax assets (5)		—			2,417,831
Recognition of deferred taxes in respect of non-tax adjustments		(6,768,943	)		(5,317,920	)

Total adjustment to deferred tax asset/(liability)		(6,768,943	)		(2,900,089	)

Deferred tax asset/(liability) under US GAAP		(4,622,852	)		(2,108,586	)

(1) Deferred taxes in respect of

non-tax

adjustments

This line represents the

tax-effect

non-tax

adjustments excluding the effects of valuation allowance adjustments and tax rate changes described below.

(2) Recognition of French deferred tax asset in respect of losses due to recognition of deferred tax liabilities

The recognition of the deferred tax liabilities for intangible assets under US GAAP means that deferred tax assets that were not recognized under UK GAAP meet the recognition threshold under US GAAP. Additional deferred assets of £95,454 and £162,174 in France were therefore recognised in 2020 and 2021 respectively.

(3) lmpact of change in UK corporate tax rate on deferred tax assets and liabilities recognised in (1) above

In respect of UK based acquirees, the deferred tax liabilities and assets recognised in (1) above were calculated based on the enacted future tax rates expected to be prevailing in the period of the reversal of the temporary difference, as was legislated in the UK at the time. In early 2020 a legislated reduction in UK corporation tax from 19% to 17% scheduled to come into effect from 1 April 2020 was withdrawn, and it was enacted that the tax rate would remain at 19%.

In June 2021 it was enacted that the UK corporation tax rate would increase to 25% from 1 April 2023.

This line represents the revaluation of those deferred tax assets and liabilities.

(4) Deferred tax assets no longer supported by deferred taxes from

non-tax

adjustments

As a result of the ability to consider additional sources of income in the assessment of the realizability of deferred tax assets under US GAAP, the tax effect of

non-tax

adjustments are no longer offset with an adjustment to the valuation allowance.

This adjustment reverses this offset to the valuation allowance.

(5) Impact of a transaction in the subsequent events window on UK deferred tax assets

If this source of income had been considered in assessing the realizability of deferred tax assets, an additional deferred tax asset of £2,417,831 would have been recognised under UK GAAP in 2020. The impact of this GAAP difference fully reverses during 2021.

(o) Transactions between equity holders

During the year the Group had a transaction between equity holders which is included in the ‘Cash flows from investing activities’ section of the statement of cash flows under FRS 102. Under US GAAP, transactions with shareholders in their capacity as shareholders are included in the “Cash flows from financing activities” section.

This has therefore led to a reclassification in the US GAAP statement of cash flows presented in this note.

Accounting Policies (Policies)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Basis of Presentation

Basis of preparation

These interim unaudited condensed consolidated financial statements have been prepared for the sole purpose of inclusion in the

S-4

The financial statements are presented in UK pounds sterling, which is the functional currency of the Group.

The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group and company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.

The financial statements are presented in UK pounds sterling, which is the functional currency of the Group.

Going concern

7th January 2023

, and £10.4m of bank loans, of which £10.3m are due on 3rd February 2023.

The base case assumes that transactional revenue in

Co-Investments

Management have applied stress test scenarios to its forecasts factoring in a severe but plausible downside scenario whereby transactional revenue and new business streams, in particular across

Co-Investments

Going concern

Following the

COVID-19

Global Pandemic

(Covid-19),

The base case assumes that transactional revenue in

Co-lnvestments

2-3%

current bank debt facility. This does not account for adverse market movements which is outside management control.

Management have applied stress test scenarios to its forecasts factoring in a severe but plausible downside scenario whereby transactional revenue and new business streams, in particular across

Co-lnvestments

and Merchant Banking, were significantly

reduced. There was also a 5

financial statements.

Consolidation

Where the Group controls more than

year-end

regarding conditions that existed at the

year-end,

this is treated as a type one adjusting event.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

non-controlling

interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

The effect of this departure at 31 December 2021, 31 December 2020, 31 December 2019 and 1 January 2019 is to:

•

decrease profit for the year by £34,266 (2020: £34,266

, 2019: £34,266)

•

increase the revaluation reserve by £133,722 (2020: £133,722) (1 Jan 2020 £133,722

) (1 Jan 2019: £133,722)

•

decrease retained profits by £

30,923

(2020: increase £3,343) (1 Jan 2020: increase 37,609

) (1 Jan 2019: £71,876); and

•

increase goodwill by £102,799 (2020: £137,065) (1 Jan 2020: £171,332

) (1 Jan 2019: £205,598)

Non-controlling interests

Non-controlling

interests

Judgements and key sources of estimation uncertainty

Significant judgements

Historic group accounting acquirer

The significant judgements in relation to this area are the same as those applied in the Group’s consolidated financial statements as at and for the year ended 31 December 2021.

Equity Method Investees

Entities excluded from consolidation due to limited economic rights

In the case of

LJ Maple Limited

LJ Maple Circus Limited

LJ Maple Hamlet Limited

LJ Maple Hill Limited

LJ Maple Belgravia Limited

LJ Maple St Johns Wood Limited

LJ Maple Kew Limited

LJ Maple Chelsea Limited

LJ Maple Tofty Limited

, LJ Green Lanes Holdings Limited,

LJ Maple Kensington Limited

LJ Maple Nine Elms Limited

LJ Maple Duke Limited

and

LJ Maple Abbey Limited

, the group control 100% of the voting rights (aside from reserved matters) by virtue of their holding of a certain class of shares.

Limited economic rights over entities owned by the group

Share based payments

non-binding

Key sources of estimation uncertainty

Useful economic lives and impairment of intangible assets

re-assessed

annually.

Impairment tests for goodwill September 2022

The analysis carried out for the year ended 31 December 2021 established that the discount rate would need to increase to more than 80% before an impairment of goodwill would be required.

Similarly the average annual growth rate for expected fund flows would need to reduce to more than

-30%

per annum before an impairment of goodwill would be required.

Deferred tax assets in respect of tax losses

Judgements and key sources of estimation uncertainty

Significant judgements

Historic accounting acquirer

re-designation

of certain share classes with preferential income rights into a class of ordinary shares ranking pari passu in all respects.

Equity method investees

Entities excluded from consolidation due to limited economic rights

Limited economic rights over entities owned by the group

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Useful economic lives and impairment of intangible assets

re-assessed

annually.

Impairment tests for goodwill December 2021

value-in-use

using long-term cash flow projections for the CGU.

flows beyond the explicit forecast period are extrapolated using a long term terminal growth

rate of 3.0%.

To arrive at the net present value, cash flows have been discounted using a discount

rate of 12.5%.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

-40%

per annum before an impairment of goodwill would be required.

Impairment tests for goodwill December 2020

value-in-use

using long-term cash flow projections for the CGU.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

The average annual growth rate for expected fund flows over the forecast period is 8.0% and would need to reduce to more than

-30%

per annum before an impairment of goodwill would be required.

Impairment tests for goodwill December 2019

value-in-use

using long-term cash flow projections for the CGU.

The overall

value-in-use

was greater than the carrying value and hence no impairment charge has been recognised. The key assumptions used in determining this amount were expected aggregated fund flows and the discount rate.

The average annual growth rate for expected fund flows over the forecast period is 8.0% and would need to reduce to more than

-24%

per annum before an impairment of goodwill would be required.

Impairment tests for equity method investees

value-in-use

calculation has therefore been produced for this asset.

The overall

value-in-use

Useful economic lives sensitivity

The tables below detail the impact of the amortisation charge reported in the event of a

5%-10%

increase or decrease in the useful economic lives of the Group’s intangible assets.

2021:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,429,870		2,293,872		—		5,723,742
Amortisation with -5% UEL		3,610,391		2,414,602		—		6,024,993
Amortisation with -10% UEL		3,810,968		2,548,747		—		6,359,715
Amortisation with +5% UEL		3,266,544		2,184,640		—		5,451,184
Amortisation with +10% UEL		3,118,065		2,085,338		—		5,203,403

2020:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,488,827		2,334,873		—		5,823,700
Amortisation with -5% UEL		3,672,451		2,457,761		—		6,130,212
Amortisation with -10% UEL		3,876,476		2,594,303		—		6,470,779
Amortisation with +5% UEL		3,322,693		2,223,689		—		5,546,382
Amortisation with +10% UEL		3,171,662		2,122,612		—		5,294,274

2019:


	Goodwill			Client lists			Brands			Total
	£			£			£			£
Current amortisation		(2,836,127	)		(2,315,165	)		(30,000	)		(5,181,291	)
Amortisation with -5% UEL		(2,985,397	)		(2,437,016	)		(31,579	)		(5,453,992	)
Amortisation with -10% UEL		(3,151,253	)		(2,572,405	)		(33,333	)		(5,756,991	)
Amortisation with +5% UEL		(2,701,074	)		(2,204,919	)		(28,571	)		(4,934,564	)
Amortisation with +10% UEL		(2,578,298	)		(2,104,695	)		(27,273	)		(4,710,266	)

Deferred tax assets in respect of tax losses

Revenue recognition

Turnover comprises revenue (exclusive of Value Added Tax) recognised by the group in respect of services supplied.

Corporate finance engagements

Placement fees are recognised as invoiced at the point of transaction closing.

Interest and investment income

Interest income is recognised using the effective interest rate method.

Dividend income is recognised when the right to receive payment is established.

UK Investment advisory revenue

pro-rata

to the services rendered.

The majority of Advisory fees are received from the Pershing Platform quarterly in arrears. At any point in time there is a level of accrued income

pro-rata

to the expected annual revenues from Pershing.

Overseas Investment advisory revenue

Trust and fiduciary revenue

Private and family office revenue

Turnover represents amounts receivable for services net of VAT and trade discounts. Invoicing is completed monthly in arrears, with any resulting accrued income included in debtors at the year end.

Income tax

The Group’s unrecognised deferred tax assets are disclosed in note 21 to the financial statements.

Foreign currencies

Functional and presentational currency

The Group financial statements are presented in pound sterling.

Foreign currency transactions

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

non-monetary

items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at

period-end

exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

Foreign operations

non-controlling

interest as appropriate.

Operating leases

The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Subsidiaries, joint ventures and associates

-10

years straight line.

Intangible assets

Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Tangible assets

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property improvements	-	Various - straight line over remaining term on property lease
Fixtures and fittings	-	Between 3 and 5 years straight line
Office equipment	-	Between 3 and 5 years straight line

Investments

Un-listed

Investments in associates

Goodwill arising on acquisition of associates is included within the investment cost. This is amortised over 10 years and included in the share of profits/losses included in the income statement.

Investments in joint ventures

Goodwill arising on acquisition of joint ventures is included within the investment cost. This is amortised over 10 years and included in the share of profits/losses included in the income statement.

Impairment of fixed assets

Finance leases

determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Government grants

Provisions

Financial instruments

Compound instruments

The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.

Loans receivable

Executory contracts

Where the Group holds derivative options for

non-financial

instruments, these are treated as executory contracts and are therefore held off the balance sheet. See note 22 of these financial statements for more information.

Employee benefits

All employee benefits are categorised under cost of sales.

Defined contribution pension plans

Share-based payments

Fair value has been determined with reference to recent transactions with external investors in the company’s shares.

Where an equity-settled transaction is cancelled, it is treated as if it had vested on the date of the cancellation, and any expense not yet recognised for the transaction is recognised immediately.

The group has

no-cash

settled arrangements.

Annual bonus plan

Short term benefits

Short term benefits, including holiday pay and other similar

non-monetary

benefits, are recognised as an expense in the period in which the service is received.

Business combinations

Business combinations are accounted for using the purchase method.

Impact of changes to accounting

Application of accounting policies

The following accounting policies are as per year ended 31 December 2021:

•

Consolidation

•

Non-controlling

interests

•

Revenue recognition

•

Foreign currencies

•

Operating leases

•

Goodwill

•

Intangible assets

•

Tangible assets

•

Investments

•

Investments in associates

•

Investments in joint ventures

•

Impairment of fixed assets

•

Finance leases

•

Government grants

•

Provisions

•

Financial instruments

•

Executory contracts

•

Employee benefits

•

Business combinations

•

Income tax

Other Income [Policy Text Block]

Other income

Share based payments

The Group issues share-based payments to certain employees, including directors. These share-based payments are recognised in accordance with section 26 of FRS 102.

Emerging Growth Company Status

Basis of Presentation

to Form 10-Q and Article

of Regulation S-X of the

Form 10-K filed

with the SEC on March 18, 2022.

Basis of Presentation

non-binding

advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

to non-emerging growth

companies but any such election to

Emerging Growth Company Status

Judgements and key sources of estimation uncertainty

Use of Estimates

Income tax

Income Taxes

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2021, there were no unrecognized tax benefits, and no amounts were accrued for the payment of interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

Cash and Cash Equivalents

Concentration of Credit Risk

Cash and Marketable Securities Held in Trust Account

At September 30, 2022 and December 31, 2021, substantially all of the assets held in the Trust Account were held in money market funds which invest in U.S. Treasury securities.

Cash and Securities Held in Trust Account

At December 31, 2021, substantially all of the assets held in the Trust Account were held in money market funds which invest in U.S. Treasury securities.

Convertible Debt

re-measured

Warrant Liabilities

The Company evaluates the Warrants (which are discussed in Note 3, Note 4 and Note 9), in accordance with FASB ASC

Topic 815-40, “Derivatives

and Hedging, Contracts in Entity’s Own Equity”

(“ASC 815-40”)

ASC 815-40, the

Warrants are recorded as derivative liabilities on the condensed balance

Warrant Liabilities

The Company evaluated the Warrants (which are discussed in Note 3, Note 4 and Note 8) in accordance with ASC

815-40

815-40,

Offering Costs Associated with the Initial Public Offering

The Company complies with the requirements of the FASB

ASC 340-10-S99-1. Offering costs

as non-operating expenses

in the condensed statements of operations. Offering costs associated with the Class A ordinary shares were charged to temporary equity upon the completion of the IPO.

Offering Costs Associated with the Initial Public Offering

The Company complies with the requirements of the FASB ASC

340-10-S99-1. Offering

costs consisted of legal, accounting, underwriting fees and other costs incurred through the IPO that were directly related to the

non-operating

expenses in the statement of operations. Offering costs associated with the Class A ordinary shares were charged to shareholders’ equity upon the completion of the IPO.

Class A Ordinary Shares Subject to Possible Redemption

ASC 480-10-S99, redemption

As of September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to redemption reflected on the condensed balance sheets are reconciled in the following table:


Gross Proceeds	$	345,000,000
Less:
Proceeds allocated to Public Warrants		(15,007,500	)
Class A ordinary shares issuance costs		(18,671,929	)
Plus:
Remeasurement of carrying value to redemption value		33,679,429
Interest earned on Trust Account		31,308

Class A ordinary shares subject to possible redemption at December 31, 2021	$	345,031,308
Interest earned on Trust Account		2,073,906

Class A ordinary shares subject to possible redemption at September 30, 2022	$	347,105,214

Ordinary Shares Subject to Possible Redemption

480-10-S99,

As of December 31, 2021, the ordinary shares subject to redemption reflected on the balance sheet are reconciled in the following table:


Gross proceeds from public issuance	$	345,000,000
Less:
Proceeds allocated to public warrants		(15,007,500	)
Class A ordinary shares issuance cost		(18,671,929	)
Add:
Accretion of carrying value to redemption value		33,679,429
Interest earned on Trust		31,308

Class A ordinary shares subject to redemption	$	345,031,308

Net (Loss) Income Per Share

The Company’s condensed statements of operations applies

the two-class method

Net Income (Loss) Per Share

The Company’s statement of operations applies the

two-class

Reconciliation of Net (Loss) Income per Share

Accordingly, basic and diluted (loss) income per ordinary share is calculated as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2022		2021			2022		2021
Class A ordinary shares subject to possible redemption
Numerator: Net income (loss) allocable to Class A ordinary shares subject to possible redemption
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of income (loss) to Class B ordinary shares		1,643,086		(1,172,749	)		3,575,439		(357,271	)

Proportionate share of net income (loss)	$	6,572,344	$	(4,690,997	)	$	14,301,756	$	(1,162,361	)

Denominator: Weighted Average Class A ordinary shares subject to possible redemption
Basic and diluted weighted average shares outstanding		34,500,000		34,500,000			34,500,000		27,296,703

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Class B ordinary shares
Numerator: Net income (loss) allocable to Class B ordinary shares
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of net income (loss) to Class A ordinary shares subject to possible redemption		6,572,344		(4,690,997	)		14,301,756		(1,162,361	)

Proportionate share of net (loss) income	$	1,643,086	$	(1,172,749	)	$	3,575,439	$	(357,271	)

Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,625,000		8,625,000			8,625,000		8,390,110

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Reconciliation of Net Loss per Share

Accordingly, basic and diluted income per ordinary share is calculated as follows:


	For the Year Ended December 31, 2021			For the period from December 18, 2020 (inception) through December 31, 2020
Class A Ordinary Shares
Numerator: Net loss allocable to Class A ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class B ordinary shares		(232,904	)		—

Proportionate share of net loss	$	(802,476	)	$	(7,948	)

Denominator: Weighted Average Class A ordinary shares
Basic and diluted weighted average shares outstanding		29,112,329			—

Basic and diluted net loss per share	$	(0.03	)	$	0.00

Class B Ordinary Shares
Numerator: Net loss allocable to Class B ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class A ordinary shares		(802,476	)		(7,948	)

Proportionate share of net loss	$	(232,904	)	$	—
Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,449,315			—

Basic and diluted net loss per share	$	(0.03	)	$	—

Fair Value of Financial Instruments

The Company follows the guidance in FASB ASC Topic 820, “Fair Value Measurement,” for its financial assets and liabilities that

are re-measured and

reported at fair value at each reporting period,

and non-financial assets

and liabilities that

are re-measured and

reported at fair value at least annually.


Level 1 —		Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 —		Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

Level 3 —		Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

See Note 9 for additional information on assets and liabilities measured at fair value.

Fair Value of Financial Instruments

The Company follows the guidance in FASB ASC Topic 820, “Fair Value Measurement,” for its financial assets and liabilities that are

re-measured

and reported at fair value at each reporting period, and

non-financial

assets and liabilities that are

re-measured

and reported at fair value at least annually.


Level 1 –		Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 –		Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

Level 3 –		Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

See Note 8 for additional information on assets and liabilities measured at fair value.

Impact of changes to accounting

Recent Accounting Pronouncements

In August 2020, the Financial Accounting Standards Board’s issued ASU

2020-06,

“Debt-Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic

815-40):

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU

2020-06”),

which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. ASU

2020-06

on January 1, 2021. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows.

Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Summary of impact of amortization on goodwill and finite lived tangible assets due to estimated increase or decrease in percentage terms of estimated useful lives

The tables below detail the impact of the amortisation charge reported in the event of a

5%-10%

increase or decrease in the useful economic lives of the Group’s intangible assets.

2021:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,429,870		2,293,872		—		5,723,742
Amortisation with -5% UEL		3,610,391		2,414,602		—		6,024,993
Amortisation with -10% UEL		3,810,968		2,548,747		—		6,359,715
Amortisation with +5% UEL		3,266,544		2,184,640		—		5,451,184
Amortisation with +10% UEL		3,118,065		2,085,338		—		5,203,403

2020:


	Goodwill		Client lists		Brands		Total
	£		£		£		£
Current amortisation		3,488,827		2,334,873		—		5,823,700
Amortisation with -5% UEL		3,672,451		2,457,761		—		6,130,212
Amortisation with -10% UEL		3,876,476		2,594,303		—		6,470,779
Amortisation with +5% UEL		3,322,693		2,223,689		—		5,546,382
Amortisation with +10% UEL		3,171,662		2,122,612		—		5,294,274

2019:


	Goodwill			Client lists			Brands			Total
	£			£			£			£
Current amortisation		(2,836,127	)		(2,315,165	)		(30,000	)		(5,181,291	)
Amortisation with -5% UEL		(2,985,397	)		(2,437,016	)		(31,579	)		(5,453,992	)
Amortisation with -10% UEL		(3,151,253	)		(2,572,405	)		(33,333	)		(5,756,991	)
Amortisation with +5% UEL		(2,701,074	)		(2,204,919	)		(28,571	)		(4,934,564	)
Amortisation with +10% UEL		(2,578,298	)		(2,104,695	)		(27,273	)		(4,710,266	)

Summary of estimated useful lives of goodwill and finite lived intangible assets other than goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Summary of useful lives of property plant and equipment

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property improvements	-	Various - straight line over remaining term on property lease
Fixtures and fittings	-	Between 3 and 5 years straight line
Office equipment	-	Between 3 and 5 years straight line

Summary Of Ordinary Shares Subject To Redemption

As of September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to redemption reflected on the condensed balance sheets are reconciled in the following table:


Gross Proceeds	$	345,000,000
Less:
Proceeds allocated to Public Warrants		(15,007,500	)
Class A ordinary shares issuance costs		(18,671,929	)
Plus:
Remeasurement of carrying value to redemption value		33,679,429
Interest earned on Trust Account		31,308

Class A ordinary shares subject to possible redemption at December 31, 2021	$	345,031,308
Interest earned on Trust Account		2,073,906

Class A ordinary shares subject to possible redemption at September 30, 2022	$	347,105,214

As of December 31, 2021, the ordinary shares subject to redemption reflected on the balance sheet are reconciled in the following table:


Gross proceeds from public issuance	$	345,000,000
Less:
Proceeds allocated to public warrants		(15,007,500	)
Class A ordinary shares issuance cost		(18,671,929	)
Add:
Accretion of carrying value to redemption value		33,679,429
Interest earned on Trust		31,308

Class A ordinary shares subject to redemption	$	345,031,308

Schedule of basic and diluted loss per ordinary share

Accordingly, basic and diluted (loss) income per ordinary share is calculated as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2022		2021			2022		2021
Class A ordinary shares subject to possible redemption
Numerator: Net income (loss) allocable to Class A ordinary shares subject to possible redemption
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of income (loss) to Class B ordinary shares		1,643,086		(1,172,749	)		3,575,439		(357,271	)

Proportionate share of net income (loss)	$	6,572,344	$	(4,690,997	)	$	14,301,756	$	(1,162,361	)

Denominator: Weighted Average Class A ordinary shares subject to possible redemption
Basic and diluted weighted average shares outstanding		34,500,000		34,500,000			34,500,000		27,296,703

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Class B ordinary shares
Numerator: Net income (loss) allocable to Class B ordinary shares
Net (loss) income	$	8,215,430	$	(5,863,746	)	$	17,877,195	$	(1,519,632	)
Less: Allocation of net income (loss) to Class A ordinary shares subject to possible redemption		6,572,344		(4,690,997	)		14,301,756		(1,162,361	)

Proportionate share of net (loss) income	$	1,643,086	$	(1,172,749	)	$	3,575,439	$	(357,271	)

Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,625,000		8,625,000			8,625,000		8,390,110

Basic and diluted net income (loss) per share	$	0.19	$	(0.14	)	$	0.41	$	(0.04	)

Accordingly, basic and diluted income per ordinary share is calculated as follows:


	For the Year Ended December 31, 2021			For the period from December 18, 2020 (inception) through December 31, 2020
Class A Ordinary Shares
Numerator: Net loss allocable to Class A ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class B ordinary shares		(232,904	)		—

Proportionate share of net loss	$	(802,476	)	$	(7,948	)

Denominator: Weighted Average Class A ordinary shares
Basic and diluted weighted average shares outstanding		29,112,329			—

Basic and diluted net loss per share	$	(0.03	)	$	0.00

Class B Ordinary Shares
Numerator: Net loss allocable to Class B ordinary shares
Net loss	$	(1,035,380	)	$	(7,948	)
Less: Allocation of net income to Class A ordinary shares		(802,476	)		(7,948	)

Proportionate share of net loss	$	(232,904	)	$	—
Denominator: Weighted Average Class B ordinary shares
Basic and diluted weighted average shares outstanding		8,449,315			—

Basic and diluted net loss per share	$	(0.03	)	$	—

Turnover (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Disaggregation of Revenue [Abstract]

Schedule of detailed information of turnover from rendering of services

Turnover arises from:


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Rendering of services		63,997,183		49,820,243

Turnover arises from:


	2021		2020		2019
	£		£		£
Rendering of services		75,164,498		52,263,050		47,070,105

The turnover is attributable to the one principal activity of the Group. An analysis of turnover by the geographical markets that substantially differ from each other is given

below:


	2021		2020		2019
	£		£		£
United Kingdom		53,053,810		32,371,445		27,832,611
Switzerland		5,550,023		5,535,726		6,115,067
Portugal		1,283,637		913,623		—
USA		8,367,509		7,339,809		7,386,159
Hong Kong		5,206,522		4,863,268		4,603,666
Spain		335,633		347,149		347,348
France		1,367,364		784,189		785,254
Australia		—		107,841		—

		75,164,498		52,263,050		47,070,105

Gains/(losses) on investments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of gains/(losses) on investments


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Gain on disposal of other investments		2,108		—

		2,108		—


	2021			2020			2019
	£			£			£
(Loss)/gain on disposal and restructuring of interests in joint ventures and associates		(452,591	)		(57,208	)		140,235
Gain on disposal of other investments		—			222,222			—

		(452,591	)		165,014			140,235

Operating loss / profit (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Operating Income (Loss) [Abstract]

Schedule Of Operating Profit or Loss


	Period from			Period from
	1 Jan 22 to			1 Jan 21 to
	30 Sep 22			30 Sep 21
	£			£
Depreciation of tangible assets		368,697			417,606
Impairment of trade debtors		1,326,832			170,345
Equity-settled share-based payments expense		—			(1,333	)
Cash-settled share-based payments expense		10,442,728			—
Foreign exchange differences		(1,607,419	)		(57,806	)

Operating profit/(loss) is stated after charging/(crediting):


	2021			2020		2019
	£			£		£
Depreciation of tangible assets		552,293			536,319		438,768
Impairment of trade debtors		277,682			439,829		537,976
Equity-settled share-based payments (credit)/expense		(1,333	)		7,296		8,818
Foreign exchange differences		278,611			451,027		(122,097	)

Gain on Disposal of Investment in Joint Venture (Tables)

9 Months Ended

Sep. 30, 2022

Gain Loss On Disposal Of Investments In Joint Venture [Abstract]

Schedule Of Gain On Disposal Of Investments In Joint Venture


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Gain on disposal of interests in JV		4,660,853		—

Fair Value Measurements (Tables) - Cartesian Growth Corp [Member]

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Fair Value Disclosures [Line Items]

Schedule of the Company's assets and liabilities that are measured at fair value on a recurring basis


	September 30, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	347,105,214	$	347,105,214	$	—	$	—

Liabilities:
Public Warrants Liability	$	3,278,650	$	3,278,650	$	—	$	—
Private Warrants Liability		3,086,428		—		—		3,086,428

	$	6,365,078	$	3,278,650	$	—	$	3,086,428


	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	345,031,308	$	345,031,308	$	—	$	—

Liabilities:
Public Warrants Liability	$	12,765,000	$	12,765,000	$	—	$	—
Private Warrants Liability		10,328,609		—		—		10,328,609

	$	23,093,609	$	12,765,000	$	—	$	10,328,609


	December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
U.S. Money Market held in Trust Account	$	345,031,308	$	345,031,308	$	—	$	—

Liabilities:
Public Warrants Liability		12,765,000		12,765,000		—		—
Private Warrants Liability		10,328,609		—		—		10,328,609

	$	23,093,609	$	12,765,000	$	—	$	10,328,609

Schedule of changes Level 3 liabilities

The following table presents the changes Level 3 liabilities for the nine months ended September 30, 2022:


Fair Value at January 1, 2022	$	10,328,609
Change in fair value		(4,682,154	)

Fair Value at March 31, 2022		5,646,455
Change in fair value		225,658

Fair Value at June 30, 2022		5,872,113
Change in fair value		(2,785,685	)

Fair Value at September 30, 2022	$	3,086,428

The following table presents the changes Level 3 liabilities for the year ended December 31, 2021:


Fair Value at January 1, 2021	$	—
Initial fair value of Public Warrants and Private Warrants		27,004,700
Transfer of Public Warrants to Level 1		(15,007,500	)
Change in fair value		(1,668,591	)

Fair Value at December 31, 2021	$	10,328,609

The following table presents the changes Level 3 liabilities for the year ended December 31, 2021:


Fair Value at January 1, 2021	$	—
Initial fair value of public and private warrants		27,004,700
Transfer of public warrants to Level 1		(15,007,500	)
Change in fair value		(1,668,591	)

Fair Value at December 31, 2021	$	10,328,609

Schedule of key inputs into the Monte Carlo simulation

The key inputs into the Monte Carlo simulation model as of September 30, 2022 and December 31, 2021 were as follows:


	September 30, 2022			December 31, 2021
Risk-free interest rate		4.05	%		1.30	%
Expected term remaining (years)		5.19			5.49
Expected volatility		34.1	%		17.5	%
Trading stock price	$	9.91		$	9.88

The key inputs into the Monte Carlo simulation as of February 26, 2021 and December 31, 2021 were as follows:


	(Initial Measurement) February 26, 2021			December 31, 2021
Risk-free interest rate		0.98	%		1.30	%
Expected term remaining (years)		6.13			5.49
Expected volatility		24.2	%		17.5	%
Stock price	$	9.565		$	9.88

Schedule of primary assumptions used for the valuation of the conversion feature of the Working Capital Note

The following are the primary assumptions used for the valuation of the conversion feature of the Working Capital Note:


	May 25, 2022			September 30, 2022
Warrant Valuation Terms
Risk-free interest rate		2.72	%		4.05	%
Expected term remaining (years)		5.32			5.19
Expected volatility		10.9	%		34.1	%
Trading share price	$	9.77		$	9.91


	May 25, 2022			September 30, 2022
Compound Option Terms
Strike price — debt conversion	$	1.00		$	1.00
Strike price — warrants	$	11.50		$	11.50
Term — debt conversion		0.32			0.19
Term — warrant conversion		5.32			5.19
Probability of consummation of a Business Combination		90	%		90	%
Probability of consummation of a Business Combination — Target Date 11/30/2022		90	%		90	%
Probability of consummation of a Business Combination — Target Date 2/28/2023		10	%		10	%

Schedule of changes in the fair value of the Level 3 conversion option

The following table presents the changes in the fair value of the Level 3 conversion option:


Fair value at May 25, 2022 (date of issuance)	$	41,331
Change in fair value		(35,333	)

Fair value at June 30, 2022		5,998
Change in fair value		(5,998	)

Fair value at September 30, 2022	$	—

Income Loss From Other Fixed Assets Investments [Abstract]

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

+ References + Details

Income From Other Fixed Asset Investments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Schedule of income from other fixed asset investments


	Period from		Period from
	1 Jan 22 to		1 Jan 21 to
	30 Sep 22		30 Sep 21
	£		£
Income from disposal of asset held at book value		—		530,170
Other income		10,370		17,619

Total income from other fixed asset investments		10,370		547,789


	2021		2020		2019
	£		£		£
Income from disposal of asset held at book value		530,170		—		—
Dividends from other fixed asset investments		17,619		3,158		62,995

		547,789		3,158		62,995

Interest Receivable (Tables)

12 Months Ended

Dec. 31, 2021

Interest and Other Income [Abstract]

Schedule of Interest Receivable


	2021		2020		2019
	£		£		£
Interest on loans and receivables		44,002		100,694		31,735
Interest on cash and cash equivalents		313		1,700		2,588
Interest receivable from joint ventures and associates		159,755		146,690		107,922

		204,070		249,084		142,245

Interest Payable (Tables)

12 Months Ended

Dec. 31, 2021

Interest Expense [Abstract]

Schedule of Interest Payable


	2021		2020		2019
	£		£		£
Interest on banks loans and overdrafts		626,214		631,866		655,819
Interest on obligations under finance leases and hire purchase contracts		19,683		37,226		53,488
Interest on shareholder loan facility		844,053		—		—
Other interest payable and similar charges		321,520		60,496		104,150

		1,811,470		729,588		813,457

Taxation on Ordinary Activities (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)


	Period from			Period from
	1 Jan 22 to			1 Jan 21 to
	30 Sep 22			30 Sep 21
	£			£
Current tax:
UK current tax expense		—			521,217

Total UK current tax		—			521,217

Foreign current tax expense		294,578			265,691
Adjustments in respect of prior periods		26,709			—

Total foreign tax		321,287			265,691

Total current tax		321,287			786,908

Deferred tax:
Origination and reversal of timing differences		(720,671	)		75,762
Impact of change in tax rate		(218,318	)		—
Recognition of prior period timing differences		(36,468	)		(1,475,928	)

Total deferred tax		(975,457	)		(1,400,166	)

Taxation on ordinary activities		(654,170	)		(613,258	)


	2021			2020			2019
	£			£			£
Current tax:
UK current tax expense		303,357			686,159			550,281
Adjustments in respect of prior periods		380			(18,420	)		—

Total UK current tax		303,737			667,739			550,281
Foreign current tax expense		517,781			362,736			284,363
Adjustments in respect of prior periods		(20,344	)		30,727			(2,098	)

Total foreign tax		497,437			393,463			282,265

Total current tax		801,174			1,061,202			832,546

Deferred tax:
Origination and reversal of timing differences		1,407,915			(142,158	)		1,081
Impact of change in tax rate		(156,063	)		58,184			(322,603	)
Recognition of DTAs for previously unrecognised losses		(2,589,487	)		(1,292,391	)		—

Total deferred tax		(1,337,635	)		(1,376,365	)		(321,522	)

Taxation on ordinary activities		(536,461	)		(315,163	)		511,024

Schedule of Effective Income Tax Rate Reconciliation


	2021			2020			2019
	£			£			£
Profit/(loss) on ordinary activities before taxation		1,411,413			(3,692,354	)		(3,222,070	)

Profit/(loss) on ordinary activities by rate of tax		268,168			(701,547	)		(612,193	)
Adjustment to tax charge in respect of prior periods		(19,964	)		12,307			(2,098	)
Effect of expenses not deductible for tax purposes		1,672,344			369,791			—
Effect of capital allowances and depreciation		52,978			3,298			420,326
Effect of revenue exempt from tax		(3	)		(125,015	)		(15,960	)
Effect of different overseas tax rates on some earnings		(193,301	)		(218,185	)		(3,893	)
Utilisation of tax losses		(422,151	)		(95,239	)		(304,019	)
Unused tax losses		402,001			1,235,991			(110,440	)
Gain/(loss) on disposal not taxable		28,173			(99,993	)		913,825
Amortisation arising on consolidation		651,675			662,877			(26,736	)
Recognition of DTAs for previously unrecognised losses		(2,589,487	)		(1,292,391	)		538,864
Effect of change in UK tax rates		(156,063	)		—			(322,603	)
Specific tax allowance in US subsidiary		—			(98,199	)		(98,829	)
Income from associates and JV’s not taxable in group		(230,831	)		31,142			134,780

Tax on profit/(loss)		(536,461	)		(315,163	)		511,024

Intangible Assets (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets


	Goodwill		Patents, trademarks and licences		Client lists		Total
	£		£		£		£
Cost
At 1 January 2022		33,914,523		524,848		30,238,028		64,677,399
Additions		—		—		40,000,000		40,000,000
Translation gains/(losses)		561,187		—		1,146,275		1,707,462

At 30 September 2022		34,475,710		524,848		71,384,303		106,384,861

Amortisation
At 1 January 2022		19,074,971		524,848		11,435,493		31,035,312
Charge for the period		2,617,635		—		3,217,301		5,834,936

At 30 September 2022		21,692,606		524,848		14,652,794		36,870,248

Carrying amount
At 30 September 2022		12,783,104		—		56,731,509		69,514,613

At 31 December 2021		14,839,552		—		18,802,535		33,642,087


	Goodwill			Patents, trademarks and licences		Client lists			Total
	£			£		£			£
Cost
At 1 January 2021		34,163,414			524,848		30,287,194			64,975,456
Additions		—			—		—			—
Translation gains/(losses)		(248,891	)		—		(49,166	)		(298,057	)

At 31 December 2021		33,914,523			524,848		30,238,028			64,677,399

Amortisation
At 1 January 2021		15,645,101			524,848		9,141,621			25,311,570
Charge for the year		3,429,870			—		2,293,872			5,723,742

At 31 December 2021		19,074,971			524,848		11,435,493			31,035,312

Carrying amount
At 31 December 2021		14,839,552			—		18,802,535			33,642,087

At 31 December 2020		18,518,313			—		21,145,573			39,663,886


	Goodwill			Patents, trademarks and licences		Client lists		Total
	£			£		£		£
Cost
At 1 January 2020		33,447,865			524,848		30,152,831		64,125,544
Additions		—			—		—		—
Disposals		(37,645	)		—		—		(37,645	)
Acquisitions through business combinations		453,488			—		—		453,488
Translation gains/(losses)		299,706			—		134,363		434,069

At 31 December 2020		34,163,414			524,848		30,287,194		64,975,456

Amortisation
At 1 January 2020		12,156,274			524,848		6,806,748		19,487,870
Charge for the year		3,488,827			—		2,334,873		5,823,700

At 31 December 2020		15,645,101			524,848		9,141,621		25,311,570

Carrying amount
At 31 December 2020		18,518,313			—		21,145,573		39,663,886

At 31 December 2019		21,291,591			—		23,346,083		44,637,674

Tangible Assets (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Plant Equipment


	Land and buildings		Fixtures and fittings		Equipment			Total
	£		£		£			£
Cost or valuation
At 1 January 2022		893,306		704,325		1,783,885			3,381,516
Additions		942,300		18,884		84,276			1,045,460
Disposals		—		—		(66,757	)		(66,757	)
Translation gains/(losses)		21,475		29,765		148,468			199,708

At 30 September 2022		1,857,081		752,974		1,949,872			4,559,927

Depreciation
At 1 January 2022		725,991		555,008		1,342,365			2,623,364
Charge for the period		148,587		39,072		181,040			368,699
Disposals		—		—		(61,513	)		(61,513	)
Translation (gains)/losses		7,349		23,078		112,435			142,862

At 30 September 2022		881,927		617,158		1,574,327			3,073,412

Carrying amount
At 30 September 2022		975,154		135,816		375,545			1,486,515

At 31 December 2021		167,315		149,317		441,520			758,152


	Land and buildings		Fixtures and fittings			Equipment			Total
	£		£			£			£
Cost
At 1 January 2021		887,072		685,643			1,652,988			3,225,703
Additions		5,208		26,869			383,151			415,228
Disposals		—		(8,501	)		(228,879	)		(237,380	)
Translation gains/(losses)		1,026		314			(23,375	)		(22,035	)

At 31 December 2021		893,306		704,325			1,783,885			3,381,516

Depreciation
At 1 January 2021		509,023		477,337			1,323,930			2,310,290
Charge for the year		216,599		86,126			249,568			552,293
Disposals		—		(8,501	)		(210,903	)		(219,404	)
Translation gains/(losses)		369		46			(20,230	)		(19,815	)

At 31 December 2021		725,991		555,008			1,342,365			2,623,364

Carrying amount
At 31 December 2021		167,315		149,317			441,520			758,152

At 31 December 2020		378,049		208,306			329,058			915,413


	Land and buildings			Fixtures and fittings			Equipment			Total
	£			£			£			£
Cost
At 1 January 2020		868,001			605,633			1,232,267			2,705,901
Additions		22,102			81,008			278,412			381,522
Disposals		—			—			(32,900	)		(32,900	)
Acquisitions through bus. combs.		—			—			156,113			156,113
Disposals through bus. combs.		—			—			(2,241	)		(2,241	)
Translation gains/(losses)		(3,031	)		(998	)		21,337			17,308

At 31 December 2020		887,072			685,643			1,652,988			3,225,703

Depreciation
At 1 January 2020		294,406			358,305			1,016,261			1,668,972
Charge for the year		215,527			118,970			201,822			536,319
Disposals		—			—			(32,900	)		(32,900	)
Disposals through bus. combs.		—			—			(1,519	)		(1,519	)
Translation (gains)/losses		(910	)		62			16,020			15,172
Acquisitions through bus. combs.		—			—			124,246			124,246

At 31 December 2020		509,023			477,337			1,323,930			2,310,290

Carrying amount
At 31 December 2020		378,049			208,306			329,058			915,413

At 31 December 2019		573,595			247,328			216,006			1,036,929

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases:


	Land and buildings		Fixtures and fittings		Equipment		Total
	£		£		£		£
At 31 December 2021		165,505		—		—		165,505
At 31 December 2020		248,258		25,988		12,737		286,983

Investments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Summary of Investments in and Advances to Affiliates, Schedule of Investments


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2022		2,960,255			10,265,495			2,245,098			15,470,848
Additions		—			7,452			39,327			46,779
Disposals		(54,614	)		(2,683,398	)		(19,134	)		(2,757,146	)
Revaluations		—			—			(92,440	)		(92,440	)
Transfer		—			8,020			(8,020	)		—
Share of profit or loss		578,126			66,649						644,775
Dividends received		(1,625,101	)		(907,280	)					(2,532,381	)
Movements in equity		—			26,460						26,460
Other movements		—			—			49,477			49,477
Gains/(losses) on translation		105,848			46,582			364,419			516,849

At 30 September 2022		1,964,514			6,829,980			2,578,727			11,373,221

Impairment
At 1 January 2022 and 30 September 2022		231,008			169,418			272,929			673,355

Carrying amount
At 30 September 2022		1,733,506			6,660,562			2,305,798			10,699,866

At 31 December 2021		2,729,247			10,096,077			1,972,169			14,797,493


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2021		2,902,373			9,482,998			198,061			12,583,432
Additions		—			6,208			2,220,050			2,226,258
Disposals		(10,206	)		—			(85,121	)		(95,327	)
Revaluations		—			—			(87,892	)		(87,892	)
Share of profit or loss		1,410,850			2,898,485			—			4,309,335
Dividends received		(1,312,561	)		(1,266,860	)		—			(2,579,421	)
Movements in equity		—			(655,944	)		—			(655,944	)
Gains/(losses) on translation		(30,201	)		(199,392	)		—			(229,593	)

At 31 December 2021		2,960,255			10,265,495			2,245,098			15,470,848

Impairment
At 1 January 2021		231,008			169,418			30,429			430,855
Impairment losses		—			—			242,500			242,500

At 31 December 2021		231,008			169,418			272,929			673,355

Carrying amount
At 31 December 2021		2,729,247			10,096,077			1,972,169			14,797,493


	Interests in associates			Joint ventures			Other investments other than loans			Total
	£			£			£			£
Share of net assets/cost
At 1 January 2020		3,014,578			9,081,205			121,298			12,217,081
Additions		250,734			90			78,904			329,728
Disposals		—			(57,180	)		(2,141	)		(59,321	)
Share of profit or loss		459,284			1,925,289			—			2,384,573
Dividends received		(902,844	)		(1,445,140	)		—			(2,347,984	)
Movements in equity		—			(112,050	)		—			(112,050	)
Gains on translation		80,621			90,784			—			171,405

At 31 December 2020		2,902,373			9,482,998			198,061			12,583,432


Impairment
At 1 January 2020		—			169,418			30,429			199,847
Impairment charge		231,008			—			—			231,008

At 31 December 2020		231,008			169,418			30,429			430,855

Carrying amount
At 31 December 2020		2,671,365			9,313,580			167,632			12,152,577

Schedule of Equity Method Investments

The

Summary financial information for the year ended 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		10,484,310			3,973,114			794,888			150,256			1,868,300			54,279,088			1,652,717			—
Cost of sales		(9,239,869	)		(2,677,306	)		(535,380	)		—			(818,137	)		(43,903,091	)		(1,578,183	)		—

Gross profit/(loss)		1,244,441			1,295,808			259,508			150,256			1,050,163			10,375,997			74,534			—
Administrative expenses / Other income		(1,174,100	)		(540,103	)		(116,050	)		(323,644	)		(73,124	)		(34,753,384	)		(292,903	)		1,991,460

Operating profit/(loss)		70,341			755,705			143,458			(173,388	)		977,039			(24,377,387	)		(218,369	)		1,991,460
Taxation on ordinary activities		—			(138,695	)		—			—			—			8,986,845			—			—

Profit/(loss) for the financial year		70,341			617,010			143,458			(173,388	)		977,039			(15,390,542	)		(218,369	)		1,991,460


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%
Turnover		1,091,744			1,506,469			2,124,445			5,451,611			5,095,381			12,164,600			13,815,121			2,791,256
Cost of sales		(329,166	)		(1,162,085	)		(1,181,879	)		(4,508,831	)		(2,306,806	)		(1,380,900	)		(6,169,248	)		(830,351	)

Gross profit/(loss)		762,578			344,384			942,566			942,780			2,788,575			10,783,700			7,645,873			1,960,905
Administrative expenses / Other income		(114,898	)		(284,598	)		(44,488	)		(503,255	)		(2,798,346	)		(6,705,306	)		(7,142,166	)		(2,523,031	)

Operating profit/(loss)		647,680			59,786			898,078			439,525			(9,771	)		4,078,394			503,707			(562,126	)
Taxation on ordinary activities		—			—			—			(54,373	)		—			(1,366,673	)		(1,113,974	)		237,838

Profit/(loss) for the financial year		647,680			59,786			898,078			385,152			(9,771	)		2,711,721			(610,267	)		(324,288	)

Summary financial information as at 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		21,259			515,420			483			491			2,904			9,338,733			5,601			—
Current assets		9,893,323			2,199,523			482,173			271,878			528,167			180,294,696			1,249,988			3,703,197

Total assets		9,914,582			2,714,943			482,656			272,369			531,071			189,633,429			1,255,589			3,703,197

Current liabilities		(5,446,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(4,867,040	)		(2,290,239	)		—
Non-current liabilities		(1,875,000	)		—			—			—			—			(224,272,257	)		—			—

Total liabilities		(7,321,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(229,139,297	)		(2,290,239	)		—

Net assets		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Capital and reserves
Called up share capital		—			100,110			14			600			—			—			—			—
Share premium		—			50,055			999,996			—			—			—			—			—
Members’ interests		2,592,981			—			—			—			429,448			—			—			3,703,197
Profit and loss account Non-controlling interest		—			1,511,457			(599,403	)		2,516			—			(39,505,868	)		(1,034,650	)		—

Shareholders funds		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		777,894			498,487			120,182			1,558			214,724			(9,086,350	)		(517,325	)		1,481,279
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		(23,059	)		—			—			—			—			9,086,350			517,325			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		850,543			—			—			—			56,211			—			—			41,984

Carrying amount of goodwill		—			505,206			—			—			—			—			—			—
Carrying amount of net investment		1,605,378			498,487			120,182			1,558			270,935			—			—			1,523,263


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		—			169,543			—			289,070			297,121			178,819,520			8,765,173			24,146,342
Current assets		303,313			706,121			261,633			3,132,832			1,155,802			3,241,332			8,094,719			4,047,343

Total assets		303,313			875,664			261,633			3,421,902			1,452,923			182,060,852			16,859,892			28,193,685

Current liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(3,216,513	)		(4,382,663	)		(7,982,267	)
Non-current liabilities		—			—			—			—			—			(170,209,878	)		(9,020,628	)		(24,280,110	)

Total liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(173,426,391	)		(13,403,291	)		(32,262,377	)

Net assets		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			102,098
Share premium		—			—			—			—			—			—			—			—
Members’ interests		57,107			—			—			—			—			—			—			(815,518	)
Profit and loss account Non-controlling interest		—			(865,337	)		178,569			1,934,477			(1,199,412	)		5,599,065 3,035,343			3,450,210			(3,355,272	)

Shareholders funds		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		19,036			(281,398	)		66,523			650,190			(419,759	)		2,575,594			1,724,844			(1,414,144	)
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			281,398			—			—			419,759									1,827,368
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		—			—			—			—			—									—
Carrying amount of goodwill		—			—			—			—			—			—			2,834,940			—

Carrying amount of net investment		19,036			—			66,523			650,190			—			2,575,594			1,724,844			413,224

Summary financial information for the year ended 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		7,145,050			3,715,933			598,419			246,777			1,296,358			56,697,480			—			—
Cost of sales		(5,495,752	)		(2,661,482	)		(674,137	)		—			(745,334	)		(47,481,189	)		(613,433	)		—

Gross profit/(loss)		1,649,298			1,054,451			(75,718	)		246,777			551,024			9,216,291			(613,433	)		—
Administrative expenses / Other income		(1,095,542	)		(448,474	)		(247,390	)		(453,889	)		(58,819	)		(43,206,790	)		(202,858	)		2,577,767

Operating profit/(loss)		553,756			605,977			(323,108	)		(207,112	)		492,205			(33,990,499	)		(816,291	)		2,577,767
Taxation on ordinary activities		(10,948	)		(121,196	)		—			(1,096	)		—			10,665,485			—			—

Profit/(loss) for the financial year		542,808			484,781			(323,108	)		(208,208	)		492,205			(23,325,014	)		(816,291	)		2,577,767

Summary financial information as at 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kai rock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		45,948			220,000			30,233			1,140			3,739			15,693,138			4,427			—
Current assets		13,000,933			2,523,939			363,186			541.069			507,738			276,441,912			9,060			2,475,034

Total assets		13,126,881			2,743,947			401,419			542,217			511,477			292,135,050			13,487			2,475,034

Current liabilities		(6,621,633	)		(1,210,347	)		(144,260	)		(365,713	)		(207,610	)		(132,249,357	)		(829,778	)		—
Non-current liabilities		(2,000,000	)		—			—			—			—			(181,186,081	)		—			—

Total liabilities		(8,621,633	)		(1,210,347	)		(144,268	)		(365,713	)		(207,610	)		(313,435,438	)		(829,778	)		—

Net assets		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Capital and reserves
Called up share capital		—			102,055			14			600			—			—			—			—
Share premium		—			51,028			999,996			—			—			—			—			—
Members’ interests		4,505,248			—			—			—			303,067			—			—			2,475,034
Profit and loss account
Non-controlling interest		—			1,300,517			(742,059	)		175,904			—			(21,300,380	)		(816,291	)		—

Shareholders funds		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Expected carrying amount of net investment		1,351,574			460,080			77,145			88,252			151,934			(4,899,089	)		(408,146	)		990,014
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			—			—			—			—			4,899,089			408,146			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		77,158												52,474									77,206

Carrying amount of goodwill		—			586,058			—			—			—			—			—			—
Carrying amount of net investment		1,428,732			460,080			77,145			88,252			204,407			—			—			1,067,220


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		860			202,620			—			372,423			46,621			251,644,701			10,207,395			3,615,604
Current assets		184,529			459,323			333,035			3,686,144			1,610,855			27,335			7,720,822			4,891,470

Total assets		185,339			661,943			333,035			4,058,567			1,657,476			251,672,036			17,928,217			8,507,074

Current liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,836,009	)		(6,362,727	)		(3,701,089	)		(6,421,020	)
Non-current liabilities		—			—			—			—			(11,008	)		(242,402,590	)		(10,155,392	)		(4,065,836	)

Total liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,847,017	)		(248,765,317	)		(13,856,481	)		(10,486,856	)

Net assets		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			109,696
Share premium		—			—			—			—			—			—			—			—
Members’ interests		74,453			—			—			—			—			—			—			(1.047,399	)
Profit and loss account		—			(980,970	)		186,602			1,657,264			(1,189,641	)		3,385,592			4,065,345			(1,042,079	)
Non-controlling interest																	(478,926	)					—

Shareholders funds		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Expected carrying amount of net investment		24,815			(319,910	)		69,193			557,730			(416,339	)		1,557,397			2,031,796			(938,404	)
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			319,910			—			—			416,339									1,278,487
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		15,161			—			—			—			—									—

Carrying amount of goodwill		—			—			—			—			—			—			3,476,813			—
Carrying amount of net investment		39,976			—			69,193			557,730			—			1,557,397			2,031,796			340,083

Summary financial information for the year ended 31 December 2019


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		9,318,930			3,734,355			695,653			2,541,262			1,502,952			475,584			—			867,399
Cost of sales		(6,617,096	)		(2,857,802	)		(781,830	)		—			(531,801	)		(319,739	)		—			—

Gross profit/(loss)		2,701,834			876,553			(86,177	)		2,541,262			971,151			155,845			—			867,399
Administrative expenses / Other income		(1,455,902	)		(341,173	)		(175,001	)		(4,122,626	)		(91,342	)		(3,087,680	)		—			—

Operating profit/(loss)		1,245,932			535,380			(261,178	)		(1,581.364	)		879,809			(2,931,835	)		—			867,399
Taxation on ordinary activities		(20,111	)		(107,076	)		—			—			—			1,900,617			—			—

Profit/(loss) for the financial year		1,225,821			428,304			(261,178	)		(1,581,364	)		879,809			(1,031,218	)		—			867,399


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		50	%		49.90	%		20% - 50	%
Turnover		1,230,305			1,361,224			2,182,515			5,101,052			3,731,411			14,526,570			12,636,547			2,824,340
Cost of sales		(440,954	)		(799,564	)		(1,261,331	)		(3,058,558	)		(1,772,859	)		(10,694,878	)		(5,797,619	)		(1,839,199	)

Gross profit/(loss)		789,351			561,660			921,184			2,042,494			1,958,552			3,831,692			6,838,928			985,141
Administrative expenses / Other income		(152,634	)		(820,363	)		(149,279	)		(1,584,575	)		(2,972,970	)		(2,725,155	)		(6,121,790	)		(1,683,347	)

Operating profit/(loss)		636,717			(258,703	)		771,905			457,919			(1,014,418	)		1,100,537			717,138			(698,206	)
Taxation on ordinary activities		—			—			—			(155,940	)		(1,578	)		(421,147	)		(1,032,764	)		(24,794	)

Profit/(loss)for the financial year		636,717			(258,703	)		771,905			301,979			(1,015,996	)		685,390			(315,626	)		(723,000	)


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other

Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20 % - 50	%
Turnover		1,028,927			1,359,511			1,935,905			4,665,968			9,632,109			7,064,322			13,702,036			4,139,503
Cost of sales		(497,635	)		(1,057,493	)		(1,039,581	)		(3,898,629	)		(6,160,080	)		(593,579	)		(6,557,180	)		(2,277,412	)

Gross profit/(loss)		531,292			302,018			896,324			767,339			3,472,029			6,470,743			7,144,856			1,862,091
Administrative expenses / Other income		(111,313	)		(564,828	)		(63,558	)		(722,925	)		(2,391,764	)		(3,945,098	)		(6,914,413	)		(2,220,074	)

Operating profit/(loss)		419,979			(262,810	)		832,766			44,414			1,080,265			2,525,645			230,443			(357,983	)
Taxation on ordinary activities		—			—			—			(77,134	)		213,877			(745,731	)		(945,264	)		(4,280	)

Profit/(loss) for the financial year		419,979			(262,810	)		832,766			(32,720	)		1,294,142			1,779,914			(714,821	)		(362,263	)

Summary of Other than Securities Investment Holdings, Schedule of Investments


	Capital and reserves						Profit/(loss) for the year
	2021			2020			2021			2020
	£			£			£			£
Subsidiary undertakings
LJ London Holdings Limited		—			1,133			(1,133	)		18,853
LJ Maple Limited*		(101,370	)		(74,866	)		(26,504	)		(28,240	)
LJ Maple Chelsea Limited*		380,115			391,228			(11,113	)		(9,166	)
LJ Maple Hamlet Limited*		41,389			(98,403	)		139,792			(28,935	)
LJ Maple Circus Limited*		(110,193	)		(101,918	)		(8,275	)		(7,751	)
LJ Maple Belgravia*		(41,308	)		(28,547	)		(12,761	)		(8,395	)
LJ Maple Tofty Limited*		(165,417	)		(157,361	)		(8,056	)		(7,332	)
LJ Maple St Johns Wood Limited*		(153,722	)		(179,249	)		(9,246	)		(41,655	)
LJ Maple Kew Limited*		(37,370	)		(29,833	)		(7,537	)		(6,361	)
LJ Maple Kensington Limited		(89,901	)		(85,916	)		(9,056	)		(11,370	)
LJ Maple Hill Limited*		139,861			129,574			10,287			28,262
LJ Maple Nine Elms Limited*		(621,591	)		(510,079	)		(111,512	)		(218,079	)
LJ Maple Duke Limited*		(224,513	)		(295,398	)		70,885			(30,862	)
LJ Maple Abbey Limited*		(172,889	)		(161,742	)		(11,147	)		(7,021	)
LJ T4 GP Limited*		25,536,278			25,529,573			6,705			866,508

*	denotes investments not held directly by the parent company

Subsidiaries Associates And Other Investments [Member]

Schedule of Equity Method Investments

Details of the new investments since the most recent

year-end

financial statements in which the Group and the parent Company have an interest of 20% or more are as follows:

Country of

incorporation

Class of

Percentage

of shares

held

Subsidiary undertakings

Alvarium Education Reit Limited

(1)

United Kingdom

Ordinary

100

Alvarium Willow GP

(2)

Isle of Man

Ordinary

100

Alvarium RE Public Markets Limited

(1)

United Kingdom

Ordinary

100

Amalfi Investment Partners Limited

(1)

United Kingdom

Ordinary

100

Joint ventures

Alvarium 64 Advisory LLP

(1)

United Kingdom

Partnership interest

Registered addresses

The subsidiaries, joint ventures and associates disclosed above are registered at the following addresses:

(1)

10 Old Burlington Street, London, W1S 3AG

(2)

Commerce House, 1 Bowring Road, Ramsey, Isle of Man, IM8 2LQ

Details of the investments in which the Group and the parent Company have an interest of 20% or more are as follows:


Sub s idiary undertakings	Country of incorporation		Class of share			Percentage of shares held
Sub s idiary undertakings	Country of incorporation		Class of share			2021		2020		2019
Alvarium RE Limited (1)		United Kingdom		Ordinary			100		100		100
Alvarium Investment Management Limited (1)		United Kingdom		Ordinary			75		75		75
				Ordinary	*		25		25		25
Alvarium PO (Payments) Limited*(1)		United Kingdom		Ordinary	*		100		100		100
LJ GP Carry Sarl(6)		Luxembourg		Ordinary			100		100		100
Alvarium Investment Advisors (UK) Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Investments Advisors (USA) Inc.(3)		USA		Ordinary			100		100		100
Alvarium RE (US) LLC.(3)		USA		Ordinary			100		100		0
Alvarium Investments Advisors (Suisse) SA(5)		Switzerland		Ordinary			100		100		100
Alvarium Investments Advisors (Hong Kong) Limited(23)		Hong Kong		Ordinary			100		100		100
Alvarium Investments Advisors (Portugal) Limited		Portugal		Ordinary			100		100		0
LJ GP International Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Trust and Fiduciary Holdings Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Group Holdings Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Management (Suisse) SA*(5)		Switzerland		Ordinary			100		100		100
LJ Management (IOM) Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Capital (IOM) Limited*(7)		Isle of Man		Ordinary			100		100		100
LJ Luxembourg SA*(6)		Luxembourg		Ordinary LLP			100		100		100
Alvarium Investment Managers (UK) LLP*(1)		United Kingdom		Interest			98		98		98
Alvarium PO Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Private Client Limited*(1)		United Kingdom		Ordinary			100		100		100
Alvarium Pradera Holdings Limited*(1)		United Kingdom		Ordinary			100		100		100
LJ Capital (IOM) Hadley Limited*(7)		Isle of Man		Ordinary			100		100		100
Alvarium Investment Management (US) Holdings Corp(4)		USA		Ordinary			100		100		100
LJ Sports and Entertainment LLC*(4)		USA		Ordinary			100		100		100


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
Alvarium Investment Managers LLC*(4)		USA		Partnership interest		100		100		100
Alvarium Fund Managers (UK) Limited*(1)		United Kingdom		Ordinary		100		100		0
LJ Capital (HPGL) Limited*(1)		United Kingdom		Ordinary A and B		100		100		100
Alvarium Cl (US) LLC(4)		USA		Partnership interest		100		100		0
Alvarium MB (US) BD LLC(4)		USA		Partnership interest		100		100		100
Alvarium Cl Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium Cl Advisors (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Home REIT Advisors Limited*(1)		United Kingdom		Ordinary		100		100		0
Alvarium Compass GP Limited*(7)		Isle of Man		Ordinary		100		100		100
Alvarium Group Operations Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium Investment Advisors (Singapore) Pte. Limited(29)		Singapore		Ordinary		100		100		0
Alvarium MB Limited(1)		United Kingdom		Ordinary		100		100		100
Alvarium MB (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Securities Limited*(1)		United Kingdom		Ordinary		100		100		100
Alvarium Investments Advisors (France) SAS*(2)		France		Ordinary		100		100		0
LJ Pankow I Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Pankow II Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		100
Puffin Agencies Limited*(9)		Gibraltar		Ordinary		100		100		100
Clambake Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Clambake Inc.* (8)		Marshall Islands		Ordinary		100		100		100
Dubois Services Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Cellar Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Management (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Skye Services Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Cellar lnc.*(10)		Turks and Caicos		Ordinary		100		100		100
LJ Capital Partners Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Triptych Holdings (Gibraltar) Limited*(9)		Gibraltar		Ordinary		100		100		100
LJ Skye Trustees Limited*(7)		Isle of Man		Ordinary		100		100		100
Alvarium Management (IOM) Limited		Isle of Man		Ordinary		100		100		0
Waterstreet One Limited*(7)		Isle of Man		Ordinary		100		100		100
Waterstreet Two Limited*(7)		Isle of Man		Ordinary		100		100		100
Park Limited*(7)		Isle of Man		Ordinary		100		100		100
Lake Limited*(7)		Isle of Man		Ordinary		100		100		100
Harbour Limited*(7)		Isle of Man		Ordinary		100		100		100
Stone Limited*(7)		Isle of Man		Ordinary		100		100		100
Whitebridge Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ QG Bow Limited*(7)		Isle of Man		Ordinary		100		100		100
CF I Feeder GP Limited*(25)		Cayman Islands		Ordinary		100		100		100
KF I Feeder GP Limited*(25)		Cayman Islands		Ordinary		100		100		100
LJ Ardstone Spain S.L.*(26)		Spain		Ordinary		70		70		70


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
LJ Cresco Holdco Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Directors (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
LJ Management Nominees (UK) Limited*(1)		United Kingdom		Ordinary		100		100		100
LJ UK Cities Carry LP Inc.* (7)		Isle of Man		Partnership interest		65		65		65
LJ Cresco GP Holdings Limited*(7)		Isle of Man		Ordinary		100		100		100
LJ Capital (IOM) T4 Limited*(7)		Isle of Man		Ordinary		100		100		100
Loire Services Limited*(7)		Isle of Man		Ordinary		100		100		100
Southwood Limited*(7)		Isle of Man		Ordinary		100		100		100
Mooragh (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
Whitebridge (BVI) Limited*(19)		British Virgin Islands		Ordinary		100		100		100
LJ Station 2 GP Limited*(19)		Isle of man		Ordinary		100		100		0
LJ Fusion Feeder GP Limited*(7)		Isle of Man		Ordinary		100		100		0
Alvarium Goodmayes Limited*(1)		United Kingdom		Ordinary		100		100		0
Alvarium Streatham Limited*(1)		United Kingdom		Ordinary		100		100		0
VO Feeder GP*(25)		Cayman Islands		Ordinary		100		100		0
Alvarium Cl (US) LLC(3)		USA		Partnership interest		100		0		0
LXI REIT Advisors Limited*(1)		United Kingdom		Ordinary		100		59
Alvarium Social Housing Advisors Limited*(1)		United Kingdom		Ordinary		100		76.4		0
Alvarium Penge Limited*(1)		United Kingdom		Ordinary		100		0		0
LJ Administration (UK) Limited*(1)		United Kingdom		Ordinary		0		0		100
Alvarium MB (US) LLC(4)		USA		Partnership interest		0		0		100
LJ Skye 2 (PTC) Limited*(19)		British Virgin Islands		Ordinary		0		0		100
Ecne Holdings Limited*(10)		Turks and Caicos		Ordinary		0		0		100
LJ Advisors Singapore Pte. Limited(29)		Singapore		Ordinary		0		0		100
Iskander SAS*(2)		France		Ordinary		0		0		100

Other holdings (refer to note 3 for accounting treatment)	Country of incorporation		Class of share		Percentage of shares held
	Country of incorporation		Class of share		2021		2020		2019
LJ Capital (Woody) Limited*		United Kingdom		A Shares		80		80		80
				B Shares		16		16		16
LJ Capital (RL) Limited*		British Virgin Islands		A Shares Ordinary		100		100		100
LJ London Holdings Limited		Isle of Man		shares		100		100		100
LJ Maple Limited*		Guernsey		A Shares		100		100		100
LJ Greenwich Sari*		Luxembourg		A Shares		0.19		0.19		0.19
				B Shares		100		100		100
LJ Maple Belgravia Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Circus Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Hamlet Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Hill Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple St. Johns Wood Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Kew Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Kensington Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Chelsea Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Tofty Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Duke Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Abbey Limited*		British Virgin Islands		A Shares		100		100		100
LJ Maple Nine Elms Limited*		British Virgin Islands		A Shares		100		100		100


Subsidiary undertakings	Country of incorporation		Class of share		Percentage of shares held
Subsidiary undertakings	Country of incorporation		Class of share		2021		2020		2019
LJ Green Lanes Holdings Limited*		Isle of Man British Virgin		A Shares		100		100		100
LJ T4 GP Limited*		Islands		A Shares		100		100		100
PMD Finance Sari		Luxembourg		A Shares		1.57		1.57		60

Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share			2021		2020		2019
Queensgate Investments LLP*(13)		United Kingdom		LLP Interest		30		30		50
Queensgate Investments II GP LLP*(12)		United Kingdom		LLP Interest		30		30		30
Queensgate Investment Management Limited*(13)		United Kingdom		Ordinary		30		30		30
Queensgate Hospitality Management Limited*(31)		United Kingdom		Ordinary		30		30		30
				A Shares		100		100		100
Cellar Holdings Limited		Ireland		Ordinary Partnership		50		50		50
Queensgate Mayfair Carry LP*(7)		Isle of Man		Interest Partnership		50		50		50
Queensgate Carry Partner SCS		Luxembourg		Interest		29.1		29.1		29.1
Queensgate Investments I Sarl*(16)		Luxembourg		Ordinary Shares		37.5		37.5		37.5
Queensgate Mayfair Carry GP Ltd*(7)		Isle of Man		Ordinary Shares		50		50		50
Queensgate Mayfair Co-Invest GP Ltd*(7)		Isle of Man		Ordinary Shares Partnership		33.33		33.33		33.33
Queensgate Investments II Carry GP LLP*(21)		United Kingdom		Interest Partnership		16.67		16.67		33.33
Queensgate Fusion GP LLP*(2i)		United Kingdom		Interest		16.67		16.67		0
Queensgate Carry Partner GP Coop SA*(16)		Luxembourg		Ordinary Shares Partnership		50		50		50
Queensgate Investments II Carry LP*(21)		United Kingdom		Interest Partnership		24		24		24
Queensgate Bow Co-Invest Carry LP*(21)		United Kingdom		Interest		25.5		25.5		25.5
Queensgate Bow Co-Invest Carry GP LLP*(21)		United Kingdom		LLP Interest		33.33		33.33		33.33
Queensgate Bow GP LLP*(14)		United Kingdom		LLP interest Partnership		16.67		16.67		16.67
Gem Carry GP LLP*(21)		United Kingdom		Interest Partnership		50		50		0
Gem Carry LP*(21)		United Kingdom		Interest		25		25		0
Queensgate Investments II AIV GP LLP*(12)		United Kingdom		LLP Interest Partnership		16.67		16.67		0


Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share		2021		2020		2019
Queensgate Fusion Co-Invest Carry LP*(21)		United Kingdom		interest Partnership		25.5		25.5		25.5
Queensgate Fusion Co-Invest Carry GP LLP*(21)		United Kingdom		interest		25		25		25
Alvarium Capital Partners Limited*(1)		United Kingdom		Ordinary Shares		30		30		35
Alvarium Investment Managers (Suisse) SA*(30)		Switzerland		Ordinary Shares		30		30		30
NZ Propco Holdings Limited* (35)		New Zealand		Ordinary Shares Partnership		23		23		0
Urban Spaces Carry LP*(22)		Guernsey		interest		25		25		0
Cresco Pankow 1 SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Cresco Terra 1 New SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Cresco Station 1 SCA*(17)		Luxembourg		Ordinary Shares		30		30		0
Pradera European Retails Parks Carry LP*(36)		United Kingdom		Partnership interest		30		30		0
Templeton C&M Holdco Limited*(35)		New Zealand		Ordinary		23		23		0
Queensgate Investments II AIV GP LLP(12)		United Kingdom		Partnership interest		0		0		16.67
Albacore SA*(30)		Switzerland		Ordinary Shares		0		0		30

Joint ventures

Osprey Equity Partners Limited*(1)		United Kingdom		Ordinary		50		50		50
CRE S.a r.l*(17)		Luxembourg		Ordinary		33.33		33.33		33.33
Cresco Urban Yurt Sarl*(i8)		Luxembourg		Ordinary		33.33		33.33		33.33
Cresco Urban Yurt S.L.P.*(18)		Luxembourg		Partnership interest		33.33		33.33		33.33
Cresco Capital Advisors LLP*(1)		United Kingdom		LLP Interest		33.33		33.33		33.33
Cresco Capital Group Fund I GP Limited*(22)		Guernsey		Ordinary		33.33		33.33		33.33
Cresco Immobilien Verwaltungs Gmbh*(27)		Germany		Ordinary		33.33		33.33		33.33
Cresco Terra Holdings Sarl*(17)		Luxembourg		Ordinary Shares		30		30		30
Osprey Aldgate Advisors Limited*(1)		United Kingdom		Ordinary		50		50		50
Kuno Investments Limited*(20)		British Virgin Islands		Ordinary		49.9		49.9		49.9


Associates	Country of incorporation		Class of share		Percentage of shares held
Associates	Country of incorporation		Class of share		2021		2020		2019
Alvarium Investment (NZ) Limited*(28)		New Zealand		Ordinary		46		46		50
Cresco Capital Urban Yurt Holdings 2 Sarl*(17)		Luxembourg		Ordinary		33.33		33.33		33.33
Alvarium Investments (AUS) Pty Limited*(33)		Australia		Ordinary		50		50		100
HPGL Holdings Limited*(24)		Hong Kong		Ordinary		50		50		50
Hadley Property Group Holdings Limited*(15)		United Kingdom		Ordinary		35		35		35
Alvarium Kalrock LLP*(1)		United Kingdom		Membership interest		40		40		40
Bluestar Advisors Limited*(1)		United Kingdom		Ordinary		40		40		0
Alvarium Bluestar Diamond Limited*(7)		Isle of Man		Ordinary		40		40		0
Alvarium Media Finance, LLC*(34)		United States		Membership Interest		50		50		0
Alvarium Osesam SAS*(2)		France		Ordinary		50		50		0
Pointwise Partners Limited*(1)		United Kingdom		Ordinary		50		50		0
Alvarium Core Partners LLP*(1)		United Kingdom		Membership interest		40		40		40
Casteel Capital LLP*(1)		United Kingdom		Membership Interest		50		50		50
Alvarium Guardian LLP*(1)		United Kingdom		Ordinary		50		0		0
Cresco Terra 2 S.C.A.(17)		Luxembourg		Partnership interest		0		0		30
LJ Management (Mauritius) Limited*(32)		Mauritius		Ordinary		0		0		50

Registered addresses

The subsidiaries, joint ventures and associates disclosed above are registered at the following addresses:

(1)	10 Old Burlington Street, London, W1S 3AG

(2)	35 Avenue Franklin D. Roosevelt, 75008, Paris

(3)	111 Brickell Avenue, Suite 2802, Miami, Florida, 33131

(4)	251 Little Falls Drive, Wilmington, DE 19808 New Castle County

(5)	8 Rue Saint Leger, Geneva 1205, Switzerland

(6)	6A, An Ditert L-8076 Bertrange, Luxembourg

(7)	Commerce House, 1 Bowring Road, Ramsey, Isle of Man, IM8 2LQ

(8)	Trust Company Complex, Ajeltake Road, Ajeltake Island, Marshall Islands

(9)	Suite 16, Watergardens 5, Waterport Wharf, Gibraltar

(10)	Britannic House, Providenciales, Turks and Caicos Islands

(11)	C/o Pitcher Partners, Level 13, 664 Collins Street, Docklands, VIC 3008

(12)	The Scalpel, 18 th Floor, 52 Lime Street, London, England, EC3M 7AF

(13)	8 Hill Street, London, W1J 5NG

(14)	Asticus Building, 2 nd Floor, 21 Palmer Street, London, England, SW1H 0AD

(15)	3 rd Floor, 16 Garrick Street, Garrick Street, London, United Kingdom, WC2E 9BA

(16)	1, Rue Jean-Pierre Brasseur, L-1258 Luxembourg

(17)	6, rue d’ Arion, L- 8399 Luxembourg Luxembourg

(18)	89e Parc d’Activité Luxembourg Capellan, Luxembourg

(19)	3rd Floor, Yamraj Building, Market Square, P.O. Box 3175, Road Town, Tortola, British Virgin Islands

(20)	Equity Trust (BVI) Limited, PO Box 438, Palm Grove House, Road Town Tortola, BVI

(21)	1 Exchange Crescent, Conference Square, Edinburgh, EH3 8UL

(22)	1 Royal Plaza Avenue, St Peter Port, Guernsey

(23)	Suite 3801, One Exchange Square, 8 Connaught Place, Central, Hong Kong

(24)	22F South China Building, 1-3 Wyndham Street, Central, Hong Kong

(25)	Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman, KY1-9008, Cayman Islands

(26)	RB De Catulunya, Num 86, P.1. PTA, Barcelona, 08008

(27)	Rudi-Dutschke-Strasse 26, 10969 Berlin, Germany

(28)	Zurich House, Level 9, 21 Queen Street, Auckland, 1010

(29)	c/o Abogado Pte Ltd, 8 Marina Boulevard, 05-02, Marina Bay Financial Centre Tower 1, Singapore 018981

(30)	Via Nassa 29, 6900 Lugano, Switzerland

(31)	97 Cromwell Road, London, England, SW7 4DN

(32)	6th Floor, Ken Lee Building, 20 Edith Cavell Street, Port Loius, Mauritius

(33)	Level 13, 664 Collins Street, Docklands VIC 3008

(34)	9000 W Sunset Boulevard, Penthouse, West Hollywood, CA 90069

(35)	19 Mackelvie Street, Grey Lynn, Auckland, 1021 , New Zealand

(36)	50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ

*	denotes investments not held directly by the parent Company

Debtors (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Receivables, Net, Current [Abstract]

Summary of debtors


	30 Sep 22		31 Dec 21
	£		£
Trade debtors		9,732,164		8,911,840
Amounts owed by the groups associates and joint ventures		5,569,209		5,771,802
Deferred tax asset		5,218,041		4,104,324
Prepayments and accrued income		18,893,658		13,929,657
Corporation tax repayable		53,261		—
Other debtors		8,525,058		4,285,775

		47,991,391		37,003,398


	2021 £		2020 £
Trade debtors		8,911,840		5,821,677
Amounts owed by the Group’s associates and joint ventures		5,771,802		4,669,533
Deferred tax asset		4,104,324		2,770,219
Prepayments and accrued income		13,929,657		11,187,743
Corporation tax repayable		—		12,557
Deferred consideration receivable		—		—
Other debtors		4,285,775		4,594,370

		37,003,398		29,056,099

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Other Current Assets [Abstract]

Summary of other current assets


	2021 £		2020 £
Other investments		4,254		4,940

Creditors: amounts falling due within one year (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Accounts Payable and Accrued Liabilities, Current [Abstract]

Summary of creditors current


	30 Sep 22		31 Dec 21
	£		£
Subordinated shareholder loan		39,767,149		—
Bank loans and overdrafts		10,373,499		10,323,187
Deferred consideration payable on acquisition		—		179,122
Trade creditors		4,380,595		2,175,401
Amounts owed to undertakings in which the company has a participating interest		827,158		749,005
Accruals and deferred income		19,579,527		23,950,275
Corporation tax		1,597,124		452,484
Social security and other taxes		2,578,099		1,001,918
Liability for cash-settled share-based payments		10,761,130		—
Obligations under finance leases and hire purchase contracts		—		127,174
Other creditors		1,814,169		1,945,286

		91,678,450		40,903,852


	2021		2020
	£		£
Bank loans and overdrafts		10,323,187		68,394
Deferred consideration payable on acquisition		179,122		877,492
Trade creditors		2,175,401		1,827,030
Amounts owed to the Group’s associates and joint ventures		749,005		219,998
Accruals and deferred income		23,950,275		9,598,521
Corporation tax		452,484		811,054
Social security and other taxes		1,001,918		1,705,021
Obligations under finance leases and hire purchase contracts		127,174		240,336
Other creditors		1,945,286		1,319,322

		40,903,852		16,667,168

Creditors: amounts falling due after more than one year (Tables)

12 Months Ended

Dec. 31, 2021

Accounts Payable and Accrued Liabilities, Noncurrent [Abstract]

Summary of creditors noncurrent


	2021 £		2020 £
Bank loans and overdrafts		—		8,750,000
Deferred consideration payable on acquisition		—		180,531
Obligations under finance leases and hire purchase contracts		—		127,174

		—		9,057,705

Deferred consideration payable on acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Schedule Of Deferred Consideration Payable On Acquisition [Abstract]

Schedule of deferred consideration payable on acquisition

Details regarding the deferred consideration payable on acquisition are given below:


						Alvarium
	Iskander SAS			Albacore SA		Investment Managers (UK) LLP		Total
	£			£		£		£
Brought forward at 1 January 2021		1,058,023			—		—		1,058,023
Payments made		(859,107	)		—		—		(859,107	)
Interest		25,798			—		—		25,798
Foreign exchange variances		(45,592	)		—		—		(45,592	)

Carried forward at 31 December 2021		179,122			—		—		179,122


							Alvarium
	Iskander SAS			Albacore SA			Investment Managers (UK) LLP			Total
	£			£			£			£
Brought forward at 1 January 2020		993,017			411,439			422,192			1,826,648
Additions/(reversals)		(37,645	)		19,725			100,647			82,727
Payments made		—			(468,817	)		(530,264	)		(999,081	)
Interest		46,179			5,484			7,425			59,088
Foreign exchange variances		56,472			32,169			—			88,641

Carried forward at 31 December 2020		1,058,023			—			—			1,058,023

Obligations Under Finance Leases (Tables)

12 Months Ended

Dec. 31, 2021

Lessee Disclosure [Abstract]

Summary of finance lease, liability, fiscal year maturity

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:


	2021			2020
	£			£
Not later than 1 year		130,009			260,018
Later than 1 year and not later than 5 years		—			130,009

		130,009			390,027
Less: future finance charges		(2,835	)		(22,517	)

Present value of minimum lease payments		127,174			367,510

Provisions (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Disclosure Of Provisions [Abstract]

Schedule of Reconciliation of Provisions


	Deferred tax (note 16)
	£
At 1 January 2022		1,958,233
Additions		(4,560	)
Charge against provision		(136,304	)
Foreign exchange difference		236,860

At 30 September 2022		2,054,229


	Deferred tax (note 21) £
At 1 January 2021		1,978,716
Additions		39,876
Charge against provision		(57,020	)
Foreign exchange difference		(3,339	)

At 31 December 2021		1,958,233


	Deferred tax (note 21) £
At 1 January 2020		2,098,969
Additions		1,527
Charge against provision		(129,076	)
Foreign exchange difference		7,296

At 31 December 2020		1,978,716


	Deferred tax (note 21) £
At 1 January 2019		2,771,200
Charge against provision		(609,442	)
Foreign exchange difference		(62,789	)

At 31 December 2019		2,098,969

Deferred Tax (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Components of Deferred Tax Assets and Liabilities [Abstract]

Schedule of deferred tax included in the statement of financial position

The deferred tax included in the statement of financial position is as follows:


	30 Sep 22			31 Dec 21
	£			£
Included in debtors (note 13)		5,218,041			4,104,324
Included in provisions (note 15)		(2,054,229	)		(1,958,233	)

		3,163,812			2,146,091

The deferred tax included in the statement of financial position is as follows:


	2021 £			2020 £
Included in debtors (note 14)		4,104,324			2,770,219
Included in provisions (note 20)		(1,958,233	)		(1,978,716	)

		2,146,091			791,503

Schedule of deferred tax account consists of the tax effect

The deferred tax account consists of the tax effect of timing differences in respect of:


	30 Sep 22			31 Dec 21
	£			£
Accelerated capital allowances		(35,748	)		(41,829	)
Unused tax losses		3,916,736			3,512,706
Business combinations		(2,016,653	)		(1,916,404	)
Corporate interest restriction		320,882			—
Accrued expenses not yet tax deductible		614,631			197,887
Specific allowance in US subsidiary		363,964			393,731

		3,163,812			2,146,091

Schedule of unrecognized deferred tax assets and liabilities

The Group has the following unrecognised deferred tax assets and liabilities:


	30 Sep 22		31 Dec 21
	£		£
Unused tax losses		2,544,105		2,018,188
Accrued expenses not yet tax deductible		229,796		115,352

		2,773,901		2,133,540

The Group has the following unrecognised deferred tax assets and liabilities:


	2021 £		2020 £
Accelerated capital allowances		—		(64,728	)
Unused tax losses		2,018,188		3,551,713
Accrued expenses not yet tax deductible		115,352		176,693
Impact of prior year adjustments		—		496,628
Specific allowance in US subsidiary		—		424,640

		2,133,540		4,584,946

Share-Based Payments (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Share-Based Payment Arrangement, Recognized Amount [Abstract]

Schedule of Share Based Payment Expense Recognised in Profit or Loss

The total expense recognised in profit or loss for the period is as follows:


	30 Sep 22		30 Sep 21
	£		£
Equity-settled share-based payments		—		(1,333	)
Cash-settled share-based payments		10,442,728		—

		10,442,728		(1,333	)

The total expense recognised in profit or loss for the year is as follows:


	2021 £			2020 £		2019 £
Equity-settled share-based payments		(1,333	)		7,296		8,818

Government Grants (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of Government Grants [Abstract]

Schedule of Amounts Recognised in Financial Statements for Government Grants

The amounts recognised in the Consolidated financial statements for government grants are as follows:


	2021 £		2020 £		2019 £
Recognised in other operating income:
Government grants recognised directly in income		—		759,664		—

Called Up Share Capital (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Issued, called up and fully paid


	2021 No.		£		2020 No.		£		2019 No.		£
Ordinary class A shares of £0.01 (2020: £0.01, 2019: £0.01)each		28,410		284		28,410		284		28,410		284
Ordinary class E shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		2,145		21		2,145		21
Ordinary class E1 shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		1		—		1		—
Ordinary shares of £0.01 (2020: £0.01,2019: £0.01) each		714,908		7,149		664,331		6,643		657,403		6,575
Ordinary class E2 shares of £0.01 (2020: £0.01, 2019: £0.01) each		—		—		1		—		1		—

		743,318		7,433		694,888		6,948		687,960		6,880

Reserves (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of analysis of changes in net debt

Schedule of reserves


	2021		2020
	£		£
Merger reserve		22,867,313		22,867,313
Revaluation reserve		133,722		133,722

		23,001,035		23,001,035

Analysis of changes in net debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]


	At						Other			At
	1 Jan 2021			Cash flows			changes			31 Dec 2021
	£			£			£			£
Cash and cash equivalents		8,298,069			4,666,340			(2,539	)		12,961,870
Debt due within one year		(1,186,222	)		(400,557	)		(9,042,704	)		(10,629,483	)
Debt due after one year		(9,057,705	)		—			9,057,705			—

		(1,945,858	)		4,265,783			12,462			2,332,387


	At					Other			At
	1 Jan 2020			Cash flows		changes			31 Dec 2020
	£			£		£			£
Cash and cash equivalents		7,057,488			1,250,687		(10,106	)		8,298,069
Debt due within one year		(1,511,044	)		1,221,874		(897,052	)		(1,186,222	)
Debt due after one year		(9,683,832	)		—		626,127			(9,057,705	)

		(4,137,388	)		2,472,561		(281,031	)		(1,945,858	)

Commitments Under Operating Leases (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments Under Operating Leases

The total future minimum lease payments under

non-cancellable

operating leases are as follows:


	2021 £		2020 £
Not later than 1 year		1,456,570		—
Later than 1 year and not later than 5 years		4,653,430		3,082,584
Later than 5 years		3,095,534		3,904,607

		9,205,534		6,987,191

Related Party Transactions (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Summary of Related Party Transactions


		Transaction value						Balance
Related Party	Nature of RPT	Q3 2022			Q3 2021			Q3 2022			Q4 2021
Related Individuals
Ali Bouzarif	Revenue share		(335,337	)		(400,772	)		22,908			(532,073	)

									22,908			(532,073	)

Amounts owed to group’s associates and JVs
Queensgate Investments 1 Sarl	Loan payable		—			—			(5,625	)		(5,625	)
Queensgate Investments II GP LLP	Loan payable		—			—			(178,149	)		(178,149	)
Alvarium Wealth (NZ) Limited	Fees payable		—			—			—			(34,113	)
Alvarium Investments (NZ) Limited	Fees payable		—			—			—			(137,497	)
Alvarium Capital Partners Limited	Expenses payable		—			—			—			(16	)
Alvarium Capital Partners Limited	Fees payable		—			—			—			(233,663	)
Alvarium Investment Managers (Suisse)	Fees payable		(74,016	)		—			(24,568	)		—
Cresco Capital Advisors LLP	Fees payable		18,000			18,000			—			(7,200	)
Pointwise Partners	Fees payable		(1,360,302	)		(874,101	)		(618,817	)		(152,742	)

Total									(827,159	)		(749,005	)


		Transaction value						Balance
Related Party	Nature of RPT	Q3 2022			Q3 2021			Q3 2022		Q4 2021
Amounts owed by group’s associates and JVs
Alvarium Capital Partners Limited	Fees receivable		—			—			—		10,000
Alvarium Capital Partners Limited	Expenses receivable		—			12,523			—		15,881
Alvarium Core Partners LLP	Expenses receivable		2,488			2,590			7,570		5,081
Alvarium Investment Managers (Suisse)	Expenses receivable		17,226			1,497			21,436		9,115
Alvarium Investments (Aus) Pty Ltd	Loan receivable		114,574			26,342			560,095		445,342
Alvarium Investments (Aus) Pty Ltd	Expenses receivable		30,965			—			32,013		1,048
Alvarium Investments (NZ) Limited	Loan receivable		—			—			—		1,434,572
Alvarium Investments (NZ) Limited	Expenses receivable		—			38,538			—		85,565
Alvarium Osesam	Expenses receivable		87,739			77,050			147,093		53,545
Bluestar Advisors	Fees receivable		7,500			7,500			9,000		—
Bluestar Advisors	Expenses receivable		2,239			748			3,404		1,256
Casteel Capital LLP	Fees receivable		37,800			37,800			37,800		5,170
Casteel Capital LLP	Expenses receivable		2,697			1,002			283		2,534
CRE Sarl	Fees receivable		15,033			75,038			—		9,933
CRE Sarl	Expenses receivable		—			—			6,785		6,498
Cresco Capital Urban Yurt Holdings 2 Sarl	Expenses receivable		—			—			1,829		1,752
Cresco Immobilien Verwaltungs	Loan receivable		—			—			414,522		396,990
Cresco Immobilien Verwaltungs	Loan interest		23,923			24,270			139,393		109,744
Cresco Urban Yurt Sarl	Loan receivable		—			(14,546	)		29,033		27,805
Cresco Urban Yurt Sarl	Loan interest		1,571			(16,382	)		2,673		1,000
Hadley DM Services Limited	Loan receivable		(168,896	)		(62,607	)		530,000		698,896
Hadley DM Services Limited	Loan interest		(18,604	)		23,327			99,588		118,192
NZ PropCo	Fees receivable		—			—			—		100,985
Osprey Equity Partners Limited	Loan receivable		—			77,000			259,246		259,246
Osprey Equity Partners Limited	Expenses receivable		21,013			7,080			28,138		7,125
Pointwise Partners	Fees receivable		156,418			64,105			182,708		24,022
Pointwise Partners	Expenses receivable		42,347			29,645			231,386		189,041
Pointwise Partners	Loan receivable		976,461			934,705			2,726,658		1,750,197
Queensgate Investments LLP	Expenses receivable		171			705			1,437		1,266

Total									5,472,090		5,771,801

Amounts owed to/(from) other entities
LJ Maple Duke Holdings Limited	Loan receivable		—			—			285,000		285,000
LJ Maple St Johns Wood Limited	Loan receivable		—			—			183,306		183,306
LJ Maple Kensington Limited	Loan receivable		—			—			23,020		23,020
LJ Maple Belgravia Limited	Cash advances		—			3,430			3,430		3,430
LJ Maple Kensington Limited	Cash advances		—			41,699			41,699		41,699
LJ Maple Limited	Cash advances		—			119,119			119,119		119,119
LJ Maple St Johns Wood Limited	Cash advances		—			75,510			75,510		75,510


		Transaction value					Balance
Related Party	Nature of RPT	Q3 2022		Q3 2021			Q3 2022			Q4 2021
LJ Maple Abbey Limited	Cash advances		—		85,850			85,850			85,850
LJ Maple Chelsea Limited	Cash advances		—		119,010			119,010			119,010
LJ Maple Hill Limited	Cash advances		—		136,567			136,567			136,567
LJ Maple Tofty Limited	Cash advances		—		231,186			231,186			231,186
LJ Maple Kew Limited	Cash advances		—		4,441			4,441			4,441
LJ Maple Nine Elms Limited	Cash advances		—		(108,864	)		(108,864	)		(108,864	)
LJ Maple Hamlet Limited	Cash advances		—		(66,937	)		(66,937	)		(66,937	)
LJ Maple Circus Limited	Cash advances		—		(25,228	)		(25,228	)		(25,228	)
LJ Maple Duke Limited	Cash advances		—		(1,618	)		(1,618	)		(1,618	)
Stratford Corporate Trustees Ltd	Expenses receivable		54,560		70,742			—			21,000
Lepe Partners LLP	Expenses payable		—		(195	)		—			—

Total								1,105,491			1,126,491

32.	Related party transactions

During the year the Group entered into the following transactions with related parties:


		Transaction value									Balance
Related Party	Nature of RPT	2021			2020			2019			2021			2020
Related Individuals
Ali Bouzarif	Revenue share		(532,073	)		—			—			(532,073	)		—

												(532,073	)		—

Amounts owed to group’s associates and JVs
Non-Executive Director of a trading subsidiary	Fees payable		—			(4,000	)		—						(2,000	)
Queensgate Investments 1 Sarl	Loan payable		—			—			—			(5,625	)
Queensgate Investments II GP LLP	Loan payable		—			—			—			(178,149	)		(178,149	)
Alvarium Wealth (NZ) Limited	Fees payable		(60,378	)		—			—			(34,113	)		—
Alvarium Investments (NZ) Limited	Fees payable		(137,497	)		(349,094	)		—			(137,497	)		—
Alvarium Capital Partners Limited	Expenses payable		218			—			—			(16	)		—
Alvarium Capital Partners Limited	Expenses receivable		—			—			—			—			52,376
Alvarium Capital Partners Limited	Loan payable		—			—			180,000			(63,385	)		(63,385	)
Alvarium Capital Partners Limited	Fees payable		(562,888	)		(15,519	)		—			(170,278	)		—
Alvarium Investment Managers (Suisse)	Fees payable		(55,623	)		23,252			(83,315	)		—			(33,124	)


		Transaction value								Balance
Related Party	Nature of RPT	2021			2020			2019		2021			2020
Cresco Urban Yurt SLP	Loan receivable		(89,944	)		—			—		—			71,524
Hadley DM Services Limited	Loan receivable		(62,606	)		(258,079	)		—		698,896			761,502
Hadley DM Services Limited	Loan interest		32,665			60,385			68,166		118,192			85,527
Hadley Property Group Limited	Loan receivable		—			—			—		—			40,000
Hadley Property Group Limited	Loan interest		—			3,671			4,000		—			29,413
NZ PropCo	Fees receivable		100,985			—			—		100,985			—
Osprey Equity Partners Limited	Loan receivable		(26,479	)		222,224			63,500		259,246			285,724
Osprey Equity Partners Limited	Expenses receivable		—			—			—		7,125			—
Pointwise Partners	Fees receivable		213,063			—			—		213,063			—
Pointwise Partners	Loan receivable		972,157			778,040			—		1,750,197			778,040
Queensgate Investments LLP	Expenses receivable		—			—			—		1,261			382

Total											5,771,802			4,669,533

Amounts owed to/(from) other entities
LJ Maple Duke Holdings Limited	Loan receivable		—			—			—		285,000			285,000
LJ Maple St Johns Wood Limited	Loan receivable		—			—			—		183,306			183,306
LJ Maple Kensington Limited	Loan receivable		—			—			—		23,020			23,020
LJ Maple Belgravia Limited	Cash advances		3,430			—			—		3,430			—
LJ Maple Kensington Limited	Cash advances		41,699			—			—		41,699			—
LJ Maple Limited	Cash advances		42,367			—			—		119,119			76,752
LJ Maple St Johns Wood Limited	Cash advances		75,510			—			—		75,510			—
LJ Maple Abbey Limited	Cash advances		85,850			—			—		85,850			—
LJ Maple Chelsea Limited	Cash advances		119,010			—			—		119,010			—
LJ Maple Hill Limited	Cash advances		136,567			—			—		136,567			—
LJ Maple Tofty Limited	Cash advances		231,186			—			—		231,186			—
LJ Maple Nine Elms Limited	Cash advances		(108,864	)		—			—		(108,864	)		—
LJ Maple Hamlet Limited	Cash advances		(66,937	)		—			—		(66,937	)		—
LJ Maple Circus Limited	Cash advances		(25,228	)		—			—		(25,228	)		—
LJ Maple Duke Limited	Cash advances		(1,618	)		—			—		(1,618	)		—
Stratford Corporate Trustees Ltd	Expenses receivable		—			21,000			—		21,000			21,000


		Transaction value								Balance
Related Party	Nature of RPT	2021		2020			2019			2021		2020
Lepe Partners LLP	Expenses payable		342		(6,080	)		—			—		(6,080	)
Wyndham Capital Management Limited	Fees payable		—		(350,249	)		(348,125	)		—		—

Total											1,122,050		582,998

Summary financial information for equity method investees (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Summary of equity method investments

The

Summary financial information for the year ended 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		10,484,310			3,973,114			794,888			150,256			1,868,300			54,279,088			1,652,717			—
Cost of sales		(9,239,869	)		(2,677,306	)		(535,380	)		—			(818,137	)		(43,903,091	)		(1,578,183	)		—

Gross profit/(loss)		1,244,441			1,295,808			259,508			150,256			1,050,163			10,375,997			74,534			—
Administrative expenses / Other income		(1,174,100	)		(540,103	)		(116,050	)		(323,644	)		(73,124	)		(34,753,384	)		(292,903	)		1,991,460

Operating profit/(loss)		70,341			755,705			143,458			(173,388	)		977,039			(24,377,387	)		(218,369	)		1,991,460
Taxation on ordinary activities		—			(138,695	)		—			—			—			8,986,845			—			—

Profit/(loss) for the financial year		70,341			617,010			143,458			(173,388	)		977,039			(15,390,542	)		(218,369	)		1,991,460


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%
Turnover		1,091,744			1,506,469			2,124,445			5,451,611			5,095,381			12,164,600			13,815,121			2,791,256
Cost of sales		(329,166	)		(1,162,085	)		(1,181,879	)		(4,508,831	)		(2,306,806	)		(1,380,900	)		(6,169,248	)		(830,351	)

Gross profit/(loss)		762,578			344,384			942,566			942,780			2,788,575			10,783,700			7,645,873			1,960,905
Administrative expenses / Other income		(114,898	)		(284,598	)		(44,488	)		(503,255	)		(2,798,346	)		(6,705,306	)		(7,142,166	)		(2,523,031	)

Operating profit/(loss)		647,680			59,786			898,078			439,525			(9,771	)		4,078,394			503,707			(562,126	)
Taxation on ordinary activities		—			—			—			(54,373	)		—			(1,366,673	)		(1,113,974	)		237,838

Profit/(loss) for the financial year		647,680			59,786			898,078			385,152			(9,771	)		2,711,721			(610,267	)		(324,288	)

Summary financial information as at 31 December 2021


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		21,259			515,420			483			491			2,904			9,338,733			5,601			—
Current assets		9,893,323			2,199,523			482,173			271,878			528,167			180,294,696			1,249,988			3,703,197

Total assets		9,914,582			2,714,943			482,656			272,369			531,071			189,633,429			1,255,589			3,703,197

Current liabilities		(5,446,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(4,867,040	)		(2,290,239	)		—
Non-current liabilities		(1,875,000	)		—			—			—			—			(224,272,257	)		—			—

Total liabilities		(7,321,601	)		(1,053,321	)		(82,049	)		(269,253	)		(101,623	)		(229,139,297	)		(2,290,239	)		—

Net assets		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Capital and reserves
Called up share capital		—			100,110			14			600			—			—			—			—
Share premium		—			50,055			999,996			—			—			—			—			—
Members’ interests		2,592,981			—			—			—			429,448			—			—			3,703,197
Profit and loss account Non-controlling interest		—			1,511,457			(599,403	)		2,516			—			(39,505,868	)		(1,034,650	)		—

Shareholders funds		2,592,981			1,661,622			400,607			3,116			429,448			(39,505,868	)		(1,034,650	)		3,703,197

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		777,894			498,487			120,182			1,558			214,724			(9,086,350	)		(517,325	)		1,481,279
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		(23,059	)		—			—			—			—			9,086,350			517,325			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		850,543			—			—			—			56,211			—			—			41,984

Carrying amount of goodwill		—			505,206			—			—			—			—			—			—
Carrying amount of net investment		1,605,378			498,487			120,182			1,558			270,935			—			—			1,523,263


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		—			169,543			—			289,070			297,121			178,819,520			8,765,173			24,146,342
Current assets		303,313			706,121			261,633			3,132,832			1,155,802			3,241,332			8,094,719			4,047,343

Total assets		303,313			875,664			261,633			3,421,902			1,452,923			182,060,852			16,859,892			28,193,685

Current liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(3,216,513	)		(4,382,663	)		(7,982,267	)
Non-current liabilities		—			—			—			—			—			(170,209,878	)		(9,020,628	)		(24,280,110	)

Total liabilities		(246,206	)		(1,719,858	)		(62,064	)		(1,471,332	)		(2,652,235	)		(173,426,391	)		(13,403,291	)		(32,262,377	)

Net assets		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			102,098
Share premium		—			—			—			—			—			—			—			—
Members’ interests		57,107			—			—			—			—			—			—			(815,518	)
Profit and loss account Non-controlling interest		—			(865,337	)		178,569			1,934,477			(1,199,412	)		5,599,065 3,035,343			3,450,210			(3,355,272	)

Shareholders funds		57,107			(844,194	)		199,569			1,950,570			(1,199,312	)		8,634,461			3,456,601			(4,068,692	)

Expected carrying amount of net investment Differences between amounts at which investments are carried and amounts of underlying equity and net assets		19,036			(281,398	)		66,523			650,190			(419,759	)		2,575,594			1,724,844			(1,414,144	)
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			281,398			—			—			419,759									1,827,368
Returns achieved on a different basis as per LLP/Shareholder agreement than as per% of investment		—			—			—			—			—									—
Carrying amount of goodwill		—			—			—			—			—			—			2,834,940			—

Carrying amount of net investment		19,036			—			66,523			650,190			—			2,575,594			1,724,844			413,224

Summary financial information for the year ended 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		7,145,050			3,715,933			598,419			246,777			1,296,358			56,697,480			—			—
Cost of sales		(5,495,752	)		(2,661,482	)		(674,137	)		—			(745,334	)		(47,481,189	)		(613,433	)		—

Gross profit/(loss)		1,649,298			1,054,451			(75,718	)		246,777			551,024			9,216,291			(613,433	)		—
Administrative expenses / Other income		(1,095,542	)		(448,474	)		(247,390	)		(453,889	)		(58,819	)		(43,206,790	)		(202,858	)		2,577,767

Operating profit/(loss)		553,756			605,977			(323,108	)		(207,112	)		492,205			(33,990,499	)		(816,291	)		2,577,767
Taxation on ordinary activities		(10,948	)		(121,196	)		—			(1,096	)		—			10,665,485			—			—

Profit/(loss) for the financial year		542,808			484,781			(323,108	)		(208,208	)		492,205			(23,325,014	)		(816,291	)		2,577,767

Summary financial information as at 31 December 2020


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kai rock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%

Non-current assets		45,948			220,000			30,233			1,140			3,739			15,693,138			4,427			—
Current assets		13,000,933			2,523,939			363,186			541.069			507,738			276,441,912			9,060			2,475,034

Total assets		13,126,881			2,743,947			401,419			542,217			511,477			292,135,050			13,487			2,475,034

Current liabilities		(6,621,633	)		(1,210,347	)		(144,260	)		(365,713	)		(207,610	)		(132,249,357	)		(829,778	)		—
Non-current liabilities		(2,000,000	)		—			—			—			—			(181,186,081	)		—			—

Total liabilities		(8,621,633	)		(1,210,347	)		(144,268	)		(365,713	)		(207,610	)		(313,435,438	)		(829,778	)		—

Net assets		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Capital and reserves
Called up share capital		—			102,055			14			600			—			—			—			—
Share premium		—			51,028			999,996			—			—			—			—			—
Members’ interests		4,505,248			—			—			—			303,067			—			—			2,475,034
Profit and loss account
Non-controlling interest		—			1,300,517			(742,059	)		175,904			—			(21,300,380	)		(816,291	)		—

Shareholders funds		4,505,248			1,533,600			257,151			176,504			303,867			(21,300,388	)		(816,291	)		2,475,034

Expected carrying amount of net investment		1,351,574			460,080			77,145			88,252			151,934			(4,899,089	)		(408,146	)		990,014
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			—			—			—			—			4,899,089			408,146			—
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		77,158												52,474									77,206

Carrying amount of goodwill		—			586,058			—			—			—			—			—			—
Carrying amount of net investment		1,428,732			460,080			77,145			88,252			204,407			—			—			1,067,220


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20% - 50	%

Non-current assets		860			202,620			—			372,423			46,621			251,644,701			10,207,395			3,615,604
Current assets		184,529			459,323			333,035			3,686,144			1,610,855			27,335			7,720,822			4,891,470

Total assets		185,339			661,943			333,035			4,058,567			1,657,476			251,672,036			17,928,217			8,507,074

Current liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,836,009	)		(6,362,727	)		(3,701,089	)		(6,421,020	)
Non-current liabilities		—			—			—			—			(11,008	)		(242,402,590	)		(10,155,392	)		(4,065,836	)

Total liabilities		(110,936	)		(1,621,770	)		(125,433	)		(2,385,210	)		(2,847,017	)		(248,765,317	)		(13,856,481	)		(10,486,856	)

Net assets		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Capital and reserves
Called up share capital		—			21,143			21,000			16,093			100			53			6,391			109,696
Share premium		—			—			—			—			—			—			—			—
Members’ interests		74,453			—			—			—			—			—			—			(1.047,399	)
Profit and loss account		—			(980,970	)		186,602			1,657,264			(1,189,641	)		3,385,592			4,065,345			(1,042,079	)
Non-controlling interest																	(478,926	)					—

Shareholders funds		74,453			(959,827	)		207,602			1,673,357			(1,189,541	)		2,906,719			4,071,736			(1,979,782	)

Expected carrying amount of net investment		24,815			(319,910	)		69,193			557,730			(416,339	)		1,557,397			2,031,796			(938,404	)
Differences between amounts at which investments are carried and amounts of underlying equity and net assets
Effect of discontinued recognition of losses as the carrying value of investment is down to 0		—			319,910			—			—			416,339									1,278,487
Returns achieved on a different basis as per LLP/Shareholder agreement than as per % of investment		15,161			—			—			—			—									—

Carrying amount of goodwill		—			—			—			—			—			—			3,476,813			—
Carrying amount of net investment		39,976			—			69,193			557,730			—			1,557,397			2,031,796			340,083

Summary financial information for the year ended 31 December 2019


	Queensgate Investments			Alvarium Investment Management (Suisse)			Alvarium Capital Partners			Osprey Equity Partners			Casteel Capital			NZ PropCo Holdings			Pointwise Partners			Alvarium Kalrock
Group ownership		30	%		30	%		30	%		50	%		50	%		23	%		50	%		40	%
Turnover		9,318,930			3,734,355			695,653			2,541,262			1,502,952			475,584			—			867,399
Cost of sales		(6,617,096	)		(2,857,802	)		(781,830	)		—			(531,801	)		(319,739	)		—			—

Gross profit/(loss)		2,701,834			876,553			(86,177	)		2,541,262			971,151			155,845			—			867,399
Administrative expenses / Other income		(1,455,902	)		(341,173	)		(175,001	)		(4,122,626	)		(91,342	)		(3,087,680	)		—			—

Operating profit/(loss)		1,245,932			535,380			(261,178	)		(1,581.364	)		879,809			(2,931,835	)		—			867,399
Taxation on ordinary activities		(20,111	)		(107,076	)		—			—			—			1,900,617			—			—

Profit/(loss) for the financial year		1,225,821			428,304			(261,178	)		(1,581,364	)		879,809			(1,031,218	)		—			867,399


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other
Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		50	%		49.90	%		20% - 50	%
Turnover		1,230,305			1,361,224			2,182,515			5,101,052			3,731,411			14,526,570			12,636,547			2,824,340
Cost of sales		(440,954	)		(799,564	)		(1,261,331	)		(3,058,558	)		(1,772,859	)		(10,694,878	)		(5,797,619	)		(1,839,199	)

Gross profit/(loss)		789,351			561,660			921,184			2,042,494			1,958,552			3,831,692			6,838,928			985,141
Administrative expenses / Other income		(152,634	)		(820,363	)		(149,279	)		(1,584,575	)		(2,972,970	)		(2,725,155	)		(6,121,790	)		(1,683,347	)

Operating profit/(loss)		636,717			(258,703	)		771,905			457,919			(1,014,418	)		1,100,537			717,138			(698,206	)
Taxation on ordinary activities		—			—			—			(155,940	)		(1,578	)		(421,147	)		(1,032,764	)		(24,794	)

Profit/(loss)for the financial year		636,717			(258,703	)		771,905			301,979			(1,015,996	)		685,390			(315,626	)		(723,000	)


	Cresco Capital Advisers			Cresco Immobilien Verwaltungs GMBH			Cresco Capital Group Fund 1 GP			Cresco Capital Urban Yurt Holdings			Hadley Property Group Holdings			Alvarium Investments (NZ)			Kuno Investments			Other

Group ownership		33.33	%		33.33	%		33.33	%		33.33	%		35	%		46	%		49.90	%		20 % - 50	%
Turnover		1,028,927			1,359,511			1,935,905			4,665,968			9,632,109			7,064,322			13,702,036			4,139,503
Cost of sales		(497,635	)		(1,057,493	)		(1,039,581	)		(3,898,629	)		(6,160,080	)		(593,579	)		(6,557,180	)		(2,277,412	)

Gross profit/(loss)		531,292			302,018			896,324			767,339			3,472,029			6,470,743			7,144,856			1,862,091
Administrative expenses / Other income		(111,313	)		(564,828	)		(63,558	)		(722,925	)		(2,391,764	)		(3,945,098	)		(6,914,413	)		(2,220,074	)

Operating profit/(loss)		419,979			(262,810	)		832,766			44,414			1,080,265			2,525,645			230,443			(357,983	)
Taxation on ordinary activities		—			—			—			(77,134	)		213,877			(745,731	)		(945,264	)		(4,280	)

Profit/(loss) for the financial year		419,979			(262,810	)		832,766			(32,720	)		1,294,142			1,779,914			(714,821	)		(362,263	)

Significant Differences Between Generally Accepted Accounting Policies in the United Kingdom (UK GAAP) and those of the United States (US GAAP) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Schedule Of Deferred Tax Assets And Liabilities [Line Items]

Summary of the Impact of the Conversion to US GAAP on the Company's Net Income , Shareholders Funds & Statement of Cashflows

The impact of the conversion to US GAAP on net income in the periods ending 30 September 2022 and 30 September 2021 is as follows:


	30 Sep 22 £			30 Sep 21 £
Loss for the financial period as reported under UK GAAP		(10,046,718	)		4,560,946
Reversal of amortisation of goodwill (d)		2,617,635			2,553,677
Amortisation of separately recognised intangible assets arising on business combinations (a)		(60,971	)		(61,429	)
Additional amortisation of intangible asset grossed up for deferred tax under US GAAP (n)		(467,593	)		—
Reclassification of asset acquisition as business combination (g)		956,172			956,172
Reversal of equity method investment amortisation (h)		535,338			532,435
Amortisation of additional intangible assets within equity method investments (i)		(328,911	)		(374,592	)
Release of deferred tax on equity method amortisation above (i)		62,236			71,023
Recognition of excess losses against loans provided to certain equity method investees (k)		(219,128	)		(262,107	)
Revenue recognition adjustments (m)		(1,076,087	)		(90,827	)
Impact of GAAP differences on results of equity method investments (l)		(221,635	)		—
Deferred tax (expense)/benefit (0)		648,771			(3,965,949	)

Net income under US GAAP		(7,600,891	)		3,919,349
Net income attributable to non-controlling interest under US GAAP		8,652			(540,135	)

Net income attributable to shareholders’ of the parent company under US GAAP		(7,592,239	)		3,379,214

The impact of the conversion to US GAAP on shareholders funds as at 30 September 2022 and 31 December 2021 is as follows:


	2022 £			2021 £
Shareholders funds as at 30 September 2022 and 31 December 2021 as reported under UK GAAP		48,391,408			56,305,169
Reversal of amortisation of goodwill (d)		21,692,608			19,074,973
Impact on goodwill of additional deferred tax liabilities recognised on acquisition (a)		5,284,823			5,284,823
Impact on intangible assets of additional deferred tax liabilities recognised on asset acquisition (o)		12,827,094			—
Amortisation of separately recognised intangible assets arising on business combinations (a)		(687,389	)		(626,418	)
Additional amortisation of intangible asset grossed up for deferred tax under US GAAP (n)		(467,593	)		—
Reclassification of asset acquisition as business combination ( g)		4,780,860			3,824,688
Fair value adjustments on step acquisitions (f)		11,471,931			11,471,931
Acquisition costs and fair value adjustments to deferred consideration previously capitalised (b) & (c)		(1,695,685	)		(1,695,685	)
Fair value adjustments on non-controlling interests (e)		10,933,918			10,933,918
Revenue recognition adjustments (m)		(2,039,661	)		(963,574	)
Reversal of equity method investment amortisation (h)		4,564,243			4,028,905
Accumulated amortisation of additional intangible assets within equity method investments (i)		(5,684,351	)		(5,355,440	)
Release of deferred tax on equity method amortisation above (i)		1,078,926			1,016,690
Additional impairment of investment in joint venture (j)		(254,152	)		(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(1,876,103	)		(1,611,431	)
Impact of GAAP differences on results of equity method investments (l)		—			221,635
Deferred taxes (p)		(18,947,266	)		(6,768,943	)
Cumulative translation adjustments on all of the above		1,761,311			323,116

Shareholders funds as at 30 September 2022 and 31 December 2021 under US GAAP		91,134,922			95,210,205
Non-controlling interest		(5,103	)		(13,475	)

Total equity attributable to shareholders’ of the parent company under US GAAP		91,129,819			95,196,730

The impact of the conversion to US GAAP on the Company’s statement of cashflows for the periods ended 30 September 2022 and 2021 is as follows:


	30 Sep 2022 £			30 Sep 2021 £
Operating activities

Net cash from operating activities per UK GAAP		1,085,801			6,055,053
Reclassification of interest received from investing activities		93,090			40,966
Reclassification of interest paid from financing activities		(3,167,353	)		(476,958	)

Net cash from operating activities per US GAAP		(1,988,462	)		5,619,061

Investing activities

Net cash used in investing activities per UK GAAP		706,684			(5,019,607	)
Reclassification of interest received to operating activities		(93,090	)		(40,966	)
Reclassification of transactions between equity holders		15,615			1,596,107

Net cash used in investing activities per US GAAP		629,209			(3,464,466	)

Financing activities

Net cash (used in)/ from financing activities per UK GAAP		(3,294,527	)		456,865
Reclassification of interest paid to operating activities		3,167,353			476,958
Reclassification of transactions between equity holders		(15,615	)		(1,596,107	)

Net cash (used in)/ from financing activities per US GAAP		(142,789	)		(662,284	)

Net change in cash and cash equivalents from UK to US GAAP		—			—

The impact of the conversion to US GAAP on net income in the periods ending 31 December 2021, 2020 and 2019 is as follows:


	2021 £			2020 £			2019 £
Profit/(loss) for the financial year as reported under UK GAAP		1,947,874			(3,377,191	)		(3,733,094	)
Reversal of amortisation of goodwill (d)		3,429,870			3,488,827			2,836,126
Amortisation of separately recognised intangible assets arising on business combinations (a)		(81,761	)		(82,850	)		(461,807	)
Reclassification of asset acquisition as business combination (g)		1,274,896			1,274,896			1,274,896
Expense acquisition costs previously capitalised (b)		—			—			(380,290	)
Fair value adjustments on step acquisitions (f)		—			—			10,021,062
Reversal of equity method investment amortisation (h)		710,194			715,400			690,987
Amortisation of additional intangible assets within equity method investments (i)		(485,647	)		(660,093	)		(824,297	)
Release of deferred tax on equity method amortisation above (i)		91,967			125,104			156,393
Additional impairment of investment in joint venture (j)		—			—			(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(126,797	)		(183,224	)		(603,290	)
Revenue recognition adjustments (m)		(609,183	)		161,990			(516,381	)
Fair value adjustment to deferred consideration (c)		—			(63,001	)		(111,242	)
Impact of GAAP differences on results of equity method investments (1)		221,635			(4,497,520	)		4,457,782
Deferred tax (expense)/benefit (n)		(3,870,387	)		501,961			1,890,505

Net income under US GAAP		2,502,661			(2,595,701	)		14,443,198
Net income attributable to non-controlling interest under US GAAP		(590,120	)		(1,246,901	)		(948,405	)

Net income attributable to shareholders’ of the parent company under US GAAP		1,912,541			(3,842,602	)		13,494,793

The impact of the conversion to US GAAP on shareholders funds as at 31 December 2021 and 2020 is as follows:


	2021 £			2020 £
Shareholders funds as at 31 December 2021, 2020 and 2019 as reported under UK GAAP		56,305,169			62,387,395
Reversal of amortisation of goodwill (d)		19,074,973			15,645,102
Impact on goodwill of additional deferred tax liabilities recognised on acquisition (a)		5,284,823			5,284,823
Amortisation of separately recognised intangible assets arising on business combinations (a)		(626,418	)		(544,657	)
Reclassification of asset acquisition as business combination ( g)		3,824,688			2,549,792
Acquisition costs and fair value adjustments to deferred consideration previously capitalised (b) & (c)		(1,695,685	)		(1,695,685	)
Fair value adjustments on step acquisitions (f)		11,471,931			11,471,931
Fair value adjustments on non-controlling interests (e)		10,933,918			10,933,918
Revenue recognition adjustments (m)		(963,574	)		(354,391	)
Reversal of equity method investment amortisation (h)		4,028,905			3,318,711
Accumulated amortisation of additional intangible assets within equity method investments (i)		(5,355,440	)		(4,869,793	)
Release of deferred tax on equity method amortisation above (i)		1,016,690			924,724
Additional impairment of investment in joint venture (j)		(254,152	)		(254,152	)
Recognition of excess losses against loans provided to certain equity method investees (k)		(1,611,431	)		(1,519,133	)
Impact of GAAP differences on results of equity method investments ( 1)		221,635
Deferred taxes (n)		(6,768,943	)		(2,900,089	)
Cumulative translation adjustments on all of the above		323,116			441,843

Shareholders funds as at 31 December 2021 , 2020 and 2019 under US GAAP		95,210,205			100,820,339
Non-controlling interest		(13,475	)		(11,254,993	)

Total equity attributable to shareholders’ of the parent company under US GAAP		95,196,730			89,565,346

The impact of the conversion to US GAAP on the Company’s statement of cashflows for the years ended 31 December 2021, 2020 and 2019 is as follows:


	2021 £			2020 £			2019 £

Operating activities

Net cash from operating activities per UK GAAP Reclassification of interest received from investing		14,451,786			3,330,423			2,460,296
activities		43,210			59,402			10,206
Reclassification of interest paid from financing activities		(912,769	)		(628,992	)		(739,273	)
Net cash from operating activities per US GAAP		13,582,227			2,760,833			1,731,229


Investing activities

Net cash used in investing activities per UK GAAP Reclassification of interest received to operating		(9,746,698	)		(2,502,279	)		(14,039,229	)
activities		(43,210	)		(59,402	)		(10,206	)
Reclassification of transaction between equity holders		6,326,146			—			—
Net cash used in investing activities per US GAAP		(3,463,762	)		(2,561,681	)		(14,049,435	)

Financing activities

Net cash from financing activities per UK GAAP Reclassification of interest paid to operating		(38,748	)		422,543			5,588,869
activities		912,769			628,992			739,273
Reclassification of transaction between equity holders		(6,326,146	)		—			—
Net cash from financing activities per US GAAP		(5,452,125	)		1,051,535			6,328,142

Net change in cash from UK to US GAAP		—			—			—

Summary of Reconciliation of the Income Tax Expense/(Credit) Under UK GAAP to US GAAP


	2021			2020			2019
	£			£			£
Profit/(loss) on ordinary activities before taxation		1,411,413			(3,692,354	)		(3,222,070	)

Profit/(loss) on ordinary activities by rate of tax		268,168			(701,547	)		(612,193	)
Adjustment to tax charge in respect of prior periods		(19,964	)		12,307			(2,098	)
Effect of expenses not deductible for tax purposes		1,672,344			369,791			—
Effect of capital allowances and depreciation		52,978			3,298			420,326
Effect of revenue exempt from tax		(3	)		(125,015	)		(15,960	)
Effect of different overseas tax rates on some earnings		(193,301	)		(218,185	)		(3,893	)
Utilisation of tax losses		(422,151	)		(95,239	)		(304,019	)
Unused tax losses		402,001			1,235,991			(110,440	)
Gain/(loss) on disposal not taxable		28,173			(99,993	)		913,825
Amortisation arising on consolidation		651,675			662,877			(26,736	)
Recognition of DTAs for previously unrecognised losses		(2,589,487	)		(1,292,391	)		538,864
Effect of change in UK tax rates		(156,063	)		—			(322,603	)
Specific tax allowance in US subsidiary		—			(98,199	)		(98,829	)
Income from associates and JV’s not taxable in group		(230,831	)		31,142			134,780

Tax on profit/(loss)		(536,461	)		(315,163	)		511,024

Summary of Reconciliation of the Deferred Tax Asset/(Liability) Under UK GAAP to US GAAP

The deferred tax account consists of the tax effect of timing differences in respect of:


	30 Sep 22			31 Dec 21
	£			£
Accelerated capital allowances		(35,748	)		(41,829	)
Unused tax losses		3,916,736			3,512,706
Business combinations		(2,016,653	)		(1,916,404	)
Corporate interest restriction		320,882			—
Accrued expenses not yet tax deductible		614,631			197,887
Specific allowance in US subsidiary		363,964			393,731

		3,163,812			2,146,091

Change in Accounting Method Accounted for as Change in Estimate [Member]

Schedule Of Deferred Tax Assets And Liabilities [Line Items]

Summary of Reconciliation of the Income Tax Expense/(Credit) Under UK GAAP to US GAAP

A reconciliation of the income tax expense/(credit) under UK GAAP to US GAAP is given below.


	30 Sep 22 £			30 Sep 21 £
Income tax expense/(credit) under UK GAAP		(654,170	)		(613,258	)

Recognition of deferred taxes in respect of non-tax adjustments (1)		(648,771	)		1,548,118
Impact of a transaction in the subsequent events window on UK deferred tax assets (2)		—			2,417,831

Total adjustment to deferred tax expense/(benefit)		(648,771	)		3,965,949

Income tax expense/(credit) US GAAP		(1,302,941	)		3,352,691

A reconciliation of the income tax expense/(credit) under UK GAAP to US GAAP is given below.


	2021 £			2020 £			2019 £

Income tax expense/(credit) under UK GAAP		(536,461	)		(315,163	)		511,024
Recognition of deferred taxes in respect of non-tax adjustments, other than the effect below (1)		(263,270	)		(31,320	)		(15,497	)
Recognition of deferred tax asset in respect of losses due to recognition of deferred tax liabilities (2)		—			—			(1,793,000	)
Recognition of French deferred tax asset in respect of losses due to recognition of deferred tax liabilities above (2)		(29,574	)		(95,454	)		(40,362	)
Impact of change in UK tax rate on deferred tax assets and liabilities recognised under US GAAP (3)		1,745,400			585,000			—
Impact of change in French tax rate on deferred tax liabilities recognised under US GAAP (5)		—			—			(41,646	)
Deferred tax assets no longer supported by deferred taxes from non-tax adjustments (4)		—			1,457,644			—

Total deferred taxes in respect of non-tax adjustments		1,452,556			1,915,870			(1,890,505	)
Impact of a transaction in the subsequent events window on UK deferred tax assets (5)		2,417,831			(2,417,831	)		—

Total adjustment to deferred tax expense/(benefit)		3,870,387			(501,961	)		(1,890,505	)

Income tax expense/(credit) US GAAP		3,333,926			(817,124	)		(1,379,481	)

Summary of Reconciliation of the Deferred Tax Asset/(Liability) Under UK GAAP to US GAAP

A reconciliation of the deferred tax asset/(liability) under UK GAAP to US GAAP is given below.


	30 Sep 22 £			31 Dec 21 £
Deferred tax asset/(liability) under UK GAAP		3,163,812			2,146,091

Recognition of deferred taxes in respect of non-tax adjustments (1)		(6,120,172	)		(6,768,943	)
Impact of additional deferred tax arising on asset acquisition (3)		(12,827,094	)		—

Total adjustment to deferred tax asset/(liability)		(18,947,266	)		(6,768,943	)

Deferred tax asset/(liability) under US GAAP		(15,783,454	)		(4,622,852	)

A reconciliation of the deferred tax asset/(liability) under UK GAAP to US GAAP is given below.


	202 1 £			2020 £
Deferred tax asset/(liability) under UK GAAP		2,146,091			791,503
Impact of a transaction in the subsequent events window on UK deferred tax assets (5)		—			2,417,831
Recognition of deferred taxes in respect of non-tax adjustments		(6,768,943	)		(5,317,920	)

Total adjustment to deferred tax asset/(liability)		(6,768,943	)		(2,900,089	)

Deferred tax asset/(liability) under US GAAP		(4,622,852	)		(2,108,586	)

Significant Accounting Policies (Details)			3 Months Ended						9 Months Ended				12 Months Ended
Significant Accounting Policies (Details)	Jan. 20, 2021	Dec. 31, 2020 USD ($)	Sep. 30, 2022 USD ($) shares	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) shares	Sep. 30, 2022 GBP (£)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 GBP (£)	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 GBP (£)	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 GBP (£)	Oct. 17, 2022 GBP (£)	Sep. 30, 2022 GBP (£) shares	Dec. 31, 2021 GBP (£) shares	Dec. 31, 2020 GBP (£)	Jan. 01, 2020 GBP (£)	Jan. 01, 2019 GBP (£)	Dec. 31, 2015
Significant Accounting Policies (Details) [Line Items]
Cash																			£ 13,000,000
Cash and cash equivalents																		£ 12,425,119	12,961,870	£ 8,298,069
Profit (Loss) for the financial year as reported under UK GAAP										£ (10,046,718)		£ 4,560,946		£ 1,947,874	£ (3,377,191)	£ (3,733,094)
Retained earnings accumulated deficit																		£ (6,727,684)	£ 1,177,705	16,095,507
Percentage of stake held by third party in the company that was considered for valuation purpose																							20.00%
Percentage of the votes in terms of number of shareholders needed for the implementation of certain matters			75.00%						75.00%				75.00%					75.00%	75.00%
Goodwill Impairment testing discount rate used													18.00%						18.00%
Impairment testing for equity method investment long term growth rate used													3.00%	3.00%
Impairment testing for equity method investment discount rate used													11.50%						11.50%
Creditors amounts falling due within one year																		£ 91,678,450	£ 40,903,852	16,667,168
Assets, current																		60,423,093	£ 49,969,522	37,359,108
Debt instrument, maturity date									Jan. 07, 2023	Jan. 07, 2023
Loans payable to bank																		10.4
Unused tax losses for which no deferred tax asset recognised																		0
Debt Instrument Redemption 3rd February 2023 [Member]
Significant Accounting Policies (Details) [Line Items]
Loans payable to bank																		10.3
Subsequent Event [Member] \| BMO [Member]
Significant Accounting Policies (Details) [Line Items]
Line of credit facility, maximum borrowing capacity																	£ 250,000,000
Subordinated Shareholders Loans [Member]
Significant Accounting Policies (Details) [Line Items]
Short-term debt																		£ 39,800,000
Subordinated Shareholders Loans [Member] \| Subsequent Event [Member]
Significant Accounting Policies (Details) [Line Items]
Debt instrument, maturity date	Jun. 30, 2023
Beyond Two Thousand And Twenty Six [Member]
Significant Accounting Policies (Details) [Line Items]
Goodwill Impairment testing long term growth rate used													3.00%	3.00%
Goodwill Impairment testing discount rate used													12.50%						12.50%
FRS One Hundred And Two [Member] \| Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
Significant Accounting Policies (Details) [Line Items]
Profit (Loss) for the financial year as reported under UK GAAP														£ 34,266	£ 34,266	£ 34,266
Revaluation reserve																			£ 133,722	133,722	£ 133,722	£ 133,722
Retained earnings accumulated deficit																				3,343	37,609	71,876
Goodwill																			£ 102,799	£ 137,065	£ 171,332	£ 205,598
Stress Test [Member]
Significant Accounting Policies (Details) [Line Items]
Estimated percentage growth rate of revenue per annum													5.00%	5.00%
Minimum [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee but rights to profit is subject to long term restriction													50.00%	50.00%	50.00%
Goodwill Impairment testing long term growth rate used									30.00%	30.00%			40.00%	40.00%	30.00%	24.00%
Goodwill Impairment testing discount rate used													95.00%						95.00%
Impairment testing for equity method investment long term growth rate used													0.00%	0.00%
Sensitivity analysis estimated increase in the discount rate for impairment testing													100.00%						100.00%
Minimum [Member] \| Beyond Two Thousand And Twenty Six [Member]
Significant Accounting Policies (Details) [Line Items]
Goodwill Impairment testing discount rate used		80.00%											80.00%			60.00%			80.00%	80.00%
Minimum [Member] \| Investment Advisory Fees [Member]
Significant Accounting Policies (Details) [Line Items]
Estimated percentage growth rate of revenue per annum													2.00%	2.00%	2.00%
Maximum [Member] \| Consolidation [Member]
Significant Accounting Policies (Details) [Line Items]
Equity method investment ownership percentage		50.00%											50.00%						50.00%	50.00%
Maximum [Member] \| Investment Advisory Fees [Member]
Significant Accounting Policies (Details) [Line Items]
Estimated percentage growth rate of revenue per annum													3.00%	3.00%	3.00%
Arithmetic Average [Member]
Significant Accounting Policies (Details) [Line Items]
Goodwill Impairment testing long term growth rate used													4.00%	4.00%	8.00%	8.00%
Cartesian Growth Corp [Member]
Significant Accounting Policies (Details) [Line Items]
Federal depository insurance coverage \| $			$ 250,000						$ 250,000				$ 250,000
Class A ordinary shares subject to redemption \| $		$ 0	347,105,214						347,105,214				345,031,308
Cash \| $		0	463,990						463,990				551,258
Cash and cash equivalents \| $		0	463,990						463,990				551,258
Profit (Loss) for the financial year as reported under UK GAAP \| $		(7,948)	8,215,430	$ (259,121)	$ 9,920,886	$ (5,863,746)	$ 9,245,674	$ (4,901,560)	17,877,195		$ (1,519,632)		(1,035,380)
Retained earnings accumulated deficit \| $		(7,948)	(18,926,638)						(18,926,638)				(34,729,927)
Assets, current \| $		0	$ 483,029						$ 483,029				$ 621,664
LJ Maple Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Circus Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Hamlet Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Belgravia Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple St Johns Wood Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Kew Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Chelsea Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Tofty Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Green Lanes Holdings Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Kensington Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Nine Elms Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Duke Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Abbey Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%				100.00%					100.00%	100.00%
LJ Maple Hill Limited [Member]
Significant Accounting Policies (Details) [Line Items]
Percentage of voting rights held in the investee with limited economic interest			100.00%						100.00%									100.00%
Common Class A [Member] \| Cartesian Growth Corp [Member]
Significant Accounting Policies (Details) [Line Items]
Class A ordinary shares subject to redemption \| $		$ 0
IPO and Private Placement [Member] \| Cartesian Growth Corp [Member]
Significant Accounting Policies (Details) [Line Items]
Exercisable to purchase shares \| shares			20,400,000						20,400,000				20,400,000					20,400,000	20,400,000
IPO [Member] \| Cartesian Growth Corp [Member]
Significant Accounting Policies (Details) [Line Items]
Exercisable to purchase shares \| shares			11,500,000						11,500,000				11,500,000					11,500,000	11,500,000
Private Placement [Member] \| Cartesian Growth Corp [Member]
Significant Accounting Policies (Details) [Line Items]
Exercisable to purchase shares \| shares			8,900,000						8,900,000				8,900,000					8,900,000	8,900,000

Organization and Business Operations (Details)	1 Months Ended		9 Months Ended	12 Months Ended
Organization and Business Operations (Details)	Feb. 26, 2021 USD ($) $ / shares	Feb. 23, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 GBP (£) shares	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 GBP (£) £ / shares	Aug. 16, 2022	Aug. 08, 2022 shares	Dec. 31, 2021 £ / shares	Dec. 31, 2020 $ / shares	Dec. 31, 2020 £ / shares
Organization and Business Operations (Details) [Line Items]
Interest expenses \| £					£ 321,520	£ 60,496	£ 104,150
Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Gross Proceeds				$ 345,000,000
Price per warrant (in Dollars per share) \| $ / shares			$ 10
Public shares redeem percentage	100.00%		100.00%	100.00%
Public share price per share (in Dollars per share) \| $ / shares			$ 10	$ 10
Interest expenses			$ 100,000	$ 100,000
Public per share (in Dollars per share) \| $ / shares				$ 10
Operating bank account			463,990,000,000	$ 600,000
Working Capital Deficit			$ 8,659
Inflation Reduction Act Two Thousand And Twenty Two [Member] \| Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Percentage Of Excise Tax On Repurchases Of Stock								1.00%
Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Business Combination Earnout Shares Consideration \| shares									2,100,000
IPO [Member] \| Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Initial public offering units (in Shares) \| shares		34,500,000	8,900,000	8,900,000	8,900,000
Price per share (in Dollars per share) \| $ / shares	$ 10	$ 10	$ 1	$ 1
Gross proceeds	$ 345,000,000	$ 345,000,000
Gross Proceeds			$ 8,900,000	$ 8,900,000
Transaction costs			19,540,060	19,540,060
Underwriting commission			6,900,000	6,900,000
Deferred underwriting commission			12,075,000	12,075,000
Other offering cost			$ 565,060	$ 565,060
Net offering proceeds	$ 345,000,000
Price per warrant (in Dollars per share) \| $ / shares	$ 10
Class A Ordinary Shares
Organization and Business Operations (Details) [Line Items]
Common Stock, Par or Stated Value Per Share \| £ / shares							£ 0.01			£ 0.01		£ 0.01
Class A Ordinary Shares \| Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Price per share (in Dollars per share) \| $ / shares		$ 11.5
Common Stock, Par or Stated Value Per Share \| $ / shares			$ 0.0001	$ 0.0001							$ 0.0001
Common Class B [Member] \| Cartesian Growth Corp [Member]
Organization and Business Operations (Details) [Line Items]
Common Stock, Par or Stated Value Per Share \| $ / shares			$ 0.0001	$ 0.0001							$ 0.0001

Accounting Policies (Details) - Schedule of ordinary shares subject to redemption - Cartesian Growth Corp [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Gross Proceeds		$ 345,000,000
Less:Proceeds allocated to Public Warrants		(15,007,500)
Class A ordinary shares issuance cost		(18,671,929)
Plus: Remeasurement of carrying value to redemption value		33,679,429
Interest earned on Trust Account	$ 2,073,906	31,308
Class A ordinary shares subject to possible redemption	$ 347,105,214	$ 345,031,308	$ 0

Payments to acquire businesses, gross | £

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

Accounting Policies (Details) - Schedule of basic and diluted loss per ordinary share		3 Months Ended		9 Months Ended			12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2022 GBP (£) shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 GBP (£) shares	Dec. 31, 2020 GBP (£)
Numerator: Net income (loss) allocable to Class A ordinary shares subject to possible redemption
Net (loss) income \| £					£ 644,775			£ 4,309,335	£ 2,384,573
Cartesian Growth Corp [Member]
Numerator: Net income (loss) allocable to Class A ordinary shares subject to possible redemption
Net (loss) income	$ (7,948)	$ 8,215,430	$ (5,863,746)	$ 17,877,195		$ (1,519,632)	$ (1,035,380)
Less: Allocation of income (loss) to Class B ordinary shares		1,643,086	(1,172,749)	3,575,439		(357,271)	(232,904)
Proportionate share of net income (loss)	(7,948)	1,643,086	(1,172,749)	3,575,439		(357,271)	(802,476)
Numerator: Net (loss) income allocable to Class B ordinary shares
Net (loss) income		8,215,430	(5,863,746)	17,877,195		(1,519,632)
Net income (loss)	(7,948)	8,215,430	(5,863,746)	17,877,195		(1,519,632)	(1,035,380)
Less: Allocation of net income (loss)to Class A ordinary shares subject to possible redemption	$ (7,948)	6,572,344	(4,690,997)	14,301,756		(1,162,361)	(802,476)
Proportionate share of net (loss) income		$ 6,572,344	$ (4,690,997)	$ 14,301,756		$ (1,162,361)
Proportionate share of net (loss) income							$ (232,904)
Weighted average ordinary shares [Abstract]
Weighted average shares outstanding, basic \| shares							8,449,315	8,449,315
Weighted average shares outstanding, diluted \| shares							8,449,315	8,449,315
Common Class A [Member] \| Cartesian Growth Corp [Member]
Weighted average ordinary shares [Abstract]
Weighted average shares outstanding, basic \| shares		34,500,000	34,500,000	34,500,000	34,500,000	27,296,703	29,112,329	29,112,329
Weighted average shares outstanding, diluted \| shares		34,500,000	34,500,000	34,500,000	34,500,000	27,296,703	29,112,329	29,112,329
Net (loss) income per share, basic \| $ / shares	$ 0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)	$ (0.03)
Net (loss) income per share, diluted \| $ / shares	0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)	$ (0.03)
Common Class B [Member] \| Cartesian Growth Corp [Member]
Weighted average ordinary shares [Abstract]
Weighted average shares outstanding, basic \| shares		8,625,000	8,625,000	8,625,000	8,625,000	8,390,110	8,449,315	8,449,315
Weighted average shares outstanding, diluted \| shares		8,625,000	8,625,000	8,625,000	8,625,000	8,390,110	8,449,315	8,449,315
Net (loss) income per share, basic \| $ / shares	0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)	$ (0.03)
Net (loss) income per share, diluted \| $ / shares	$ 0	$ 0.19	$ (0.14)	$ 0.41		$ (0.04)	$ (0.03)

Accounting Policies (Details) - Summary of impact of amortization on goodwill and finite lived tangible assets due to estimated increase or decrease in percentage terms of estimated useful lives - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Amortisation of Goodwill	£ 2,617,635	£ 2,553,677	£ 3,429,870	£ 3,488,827	£ 2,836,126
Amortisation of intangible assets other than goodwill	£ 5,834,937	£ 4,271,241	5,723,742	5,823,700	5,181,291
Amortisation of goodwill and finite lived intangible assets other than goodwill			5,723,742	5,823,700	(5,181,291)
-5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortisation of goodwill			3,610,391	3,672,451	(2,985,397)
Estimated amortization of goodwill and finite lived intangible assets other than goodwill			6,024,993	6,130,212	(5,453,992)
-10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortisation of goodwill			3,810,968	3,876,476	(3,151,253)
Estimated amortization of goodwill and finite lived intangible assets other than goodwill			6,359,715	6,470,779	(5,756,991)
+5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortisation of goodwill			3,266,544	3,322,693	(2,701,074)
Estimated amortization of goodwill and finite lived intangible assets other than goodwill			5,451,184	5,546,382	(4,934,564)
+10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortisation of goodwill			3,118,065	3,171,662	(2,578,298)
Estimated amortization of goodwill and finite lived intangible assets other than goodwill			5,203,403	5,294,274	(4,710,266)
Client lists [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Amortisation of intangible assets other than goodwill			2,293,872	2,334,873	(2,315,165)
Client lists [Member] \| -5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			2,414,602	2,457,761	(2,437,016)
Client lists [Member] \| -10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			2,548,747	2,594,303	(2,572,405)
Client lists [Member] \| +5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			2,184,640	2,223,689	(2,204,919)
Client lists [Member] \| +10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			2,085,338	2,122,612	(2,104,695)
Brands [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Amortisation of intangible assets other than goodwill			0	0	(30,000)
Brands [Member] \| -5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			0	0	(31,579)
Brands [Member] \| -10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			0	0	(33,333)
Brands [Member] \| +5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			0	0	(28,571)
Brands [Member] \| +10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated amortization of finite lived intangible assets other than goodwill			£ 0	£ 0	£ (27,273)

Accounting Policies (Details) - Summary of impact of amortization on goodwill and finite lived tangible assets due to estimated increase or decrease in percentage terms of estimated useful lives (Parenthetical)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
-5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated percentage increase decrease in economic useful lives of goodwill and intangible assets other than goodwill	5.00%	5.00%	5.00%
-10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated percentage increase decrease in economic useful lives of goodwill and intangible assets other than goodwill	10.00%	10.00%	10.00%
+5% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated percentage increase decrease in economic useful lives of goodwill and intangible assets other than goodwill	5.00%	5.00%	5.00%
+10% UEL [Member]
Disclosure In Tabular Form Of Impact Of Amortization On Goodwill And Finite Lived Tangible Assets Due To Estimated Increase Or Decrease In Percentage Terms Of Estimated Useful Lives [Line Items]
Estimated percentage increase decrease in economic useful lives of goodwill and intangible assets other than goodwill	10.00%	10.00%	10.00%

Accounting Policies (Details) - Summary of estimated useful lives of goodwill and finite lived intangible assets other than goodwill	12 Months Ended
	Dec. 31, 2021
Disclosure In Tabular Form Of Estimated Useful Lives Of Goodwill And Finite Lived Intangible Assets Other Than Goodwill [Line Items]
Goodwill	10 years
Licensing Agreements [Member] \| Minimum [Member]
Disclosure In Tabular Form Of Estimated Useful Lives Of Goodwill And Finite Lived Intangible Assets Other Than Goodwill [Line Items]
Finite-lived intangible asset	2 years
Licensing Agreements [Member] \| Maximum [Member]
Disclosure In Tabular Form Of Estimated Useful Lives Of Goodwill And Finite Lived Intangible Assets Other Than Goodwill [Line Items]
Finite-lived intangible asset	5 years
Customer Lists [Member] \| Minimum [Member]
Disclosure In Tabular Form Of Estimated Useful Lives Of Goodwill And Finite Lived Intangible Assets Other Than Goodwill [Line Items]
Finite-lived intangible asset	9 years
Customer Lists [Member] \| Maximum [Member]
Disclosure In Tabular Form Of Estimated Useful Lives Of Goodwill And Finite Lived Intangible Assets Other Than Goodwill [Line Items]
Finite-lived intangible asset	22 years

Accounting Policies (Details) - Summary of useful lives of property plant and equipment	12 Months Ended
	Dec. 31, 2021
Short leasehold property improvements [Member]
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Various - straight line over remaining term on property lease
Fixtures and fittings [Member] \| Minimum [Member]
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Fixtures and fittings [Member] \| Maximum [Member]
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Office equipment [Member] \| Minimum [Member]
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office equipment [Member] \| Maximum [Member]
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

Gains/(losses) on investments (Detail) - Schedule of Gains/(Losses) on Investments - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gain (Loss) on Securities [Line Items]
(Loss)/gain on disposal and restructuring of interests in joint ventures and associates			£ (452,591)	£ (57,208)	£ 140,235
Gain on disposal of other investments	£ 2,108	£ 0	0	222,222	0
Total	£ 2,108	£ 0	£ (452,591)	£ 165,014	£ 140,235

Gains/(losses) on investments (Details) - GBP (£)	12 Months Ended
Gains/(losses) on investments (Details) - GBP (£)	Dec. 31, 2021	Dec. 31, 2020
Maximum [Member]
Gain (Loss) on Securities [Line Items]
Percentage of decrease in shares of existing shareholders	35.28%
Minimum [Member]
Gain (Loss) on Securities [Line Items]
Percentage of decrease in shares of existing shareholders	30.00%
Alvarium Investment (NZ) Limited [Member]
Gain (Loss) on Securities [Line Items]
Loss on restructuring of interests in joint ventures and associates	£ 148,277
Equity method investment ownership percentage	46.00%	50.00%
Alvarium Media Finance [Member]
Gain (Loss) on Securities [Line Items]
Equity method investment, realized gain (loss) on disposal	£ 304,314

Turnover (Detail) - Schedule Of Detailed Information Of Turnover From Rendering Of Services - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax	£ 63,997,183	£ 49,820,243	£ 75,164,498	£ 52,263,050	£ 47,070,105
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			53,053,810	32,371,445	27,832,611
Switzerland
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			5,550,023	5,535,726	6,115,067
Portugal
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			1,283,637	913,623	0
USA
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			8,367,509	7,339,809	7,386,159
Hong Kong
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			5,206,522	4,863,268	4,603,666
Spain
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			335,633	347,149	347,348
France
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			1,367,364	784,189	785,254
Australia
Disaggregation of Revenue [Line Items]
Revenue from contract with customer excluding assessed tax			£ 0	£ 107,841	£ 0

Initial Public Offering (Details) - Cartesian Growth Corp [Member] - $ / shares		1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 26, 2021	Feb. 23, 2021	Sep. 30, 2022	Dec. 31, 2021
Initial Public Offering (Details) [Line Items]
Price per share	$ 9.565		$ 9.91	$ 9.88
Business combination description			In addition, if (i) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (iii) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummatesits initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described adjacent to “Redemption of warrants when the price per ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, respectively.	In addition, if (i) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (iii) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described adjacent to “Redemption of warrants when the price per ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, respectively.
Redemption warrants, description			Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00 Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except as described herein with respect to the Private Warrants): • in whole and not in part; • at a price of $0.01 per Warrant; • upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each Warrant holder; • if, and only if, the last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, share dividends, reorganizations. and recapitalizations), for any 20 trading days within a 30-trading day period ending on the third business day prior to the notice of redemption to the Warrant holders; and • if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying the Warrants.
IPO [Member]
Initial Public Offering (Details) [Line Items]
Purchase price units	34,500,000
Price per unit	$ 10
Number of shares purchased		34,500,000	8,900,000	8,900,000
Over-Allotment Option [Member]
Initial Public Offering (Details) [Line Items]
Number of shares purchased	4,500,000
Class A Ordinary Shares
Initial Public Offering (Details) [Line Items]
Price per share			$ 11.5	$ 11.5

Private Placement (Details) - Cartesian Growth Corp [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Feb. 26, 2021	Feb. 23, 2021
IPO [Member]
Private Placement (Details) [Line Items]
Private placement warrants	8,900,000	8,900,000
Price per share	$ 1	$ 1	$ 10	$ 10
Private Placement [Member]
Private Placement (Details) [Line Items]
Price per share	$ 1	$ 1
Aggregate purchase price	$ 8,900,000	$ 8,900,000

Related Party Transactions (Details)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Feb. 28, 2021

Feb. 23, 2021

Dec. 31, 2020

USD ($)

$ / shares

Feb. 23, 2021

Sep. 30, 2022

USD ($)

Sep. 30, 2021

USD ($)

Sep. 30, 2022

USD ($)

$ / shares

Sep. 30, 2021

USD ($)

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2021

GBP (£)

Dec. 31, 2020

GBP (£)

Dec. 31, 2015

GBP (£)

May 25, 2022

USD ($)

Dec. 31, 2021

GBP (£)

Feb. 26, 2021

USD ($)

Dec. 31, 2020

$ / shares

£ 0

Share Subscriptions [Member]

Related party transaction, rate

3.00%

3 years

Alvarium Investments (Aus) Ltd [Member]

Percentage divested

50.00%

Divestiture price | $ / shares

$ 1

LJ Portugal Ltd [Member] | Subsidiary Of LJ Portugal Ltd [Member]

Payments to acquire businesses, gross | £

£ 578,335

Mr A S Davies [Member] | Share Subscriptions [Member]

Common stock, value, subscriptions | £

£ 99,960

Due from officers or stockholders | £

99,960

£ 99,960

Mr C M Hamilton [Member] | Share Subscriptions [Member]

Common stock, value, subscriptions | £

99,960

Due from officers or stockholders | £

99,960

Mr N Beaton [Member] | Share Subscriptions [Member]

Common stock, value, subscriptions | £

£ 99,960

Due from officers or stockholders | £

£ 99,960

Price per share (in Dollars per share) | $ / shares

Sponsor paid

$ 25,000

$ 0.003

Business combination, description

The initial shareholders have agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until the earlier of (i) one year after the date of the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (ii) the Company consummates a subsequent liquidation, merger, capital stock exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property.

Working capital loan

$ 1,500,000

Warrant price per share (in Dollars per share) | $ / shares

$ 1

Office space monthly rent

$ 10,000

Service fee expense

30,000

$ 30,000

90,000

$ 80,000

100,000

Debt discount

22,962

Cartesian Growth Corp [Member] | Accrued Liabilities [Member]

Due to related parties

10,000

Cartesian Growth Corp [Member] | Unsecured Promissory Note [Member]

Debt instrument face value

$ 500,000

Cartesian Growth Corp [Member] | Working Capital Note [Member]

Notes Payable, Related Parties

$ 477,038

$ 0

Cartesian Growth Corp [Member] | Sponsor [Member]

Founder Shares (in Shares) | shares

75,000

7,187,500

Cartesian Growth Corp [Member] | IPO [Member]

Sponsor loan expenses

$ 250,000

Borrowings amount

$ 144,890

Value of repaid

$ 144,890

Cartesian Growth Corp [Member] | Class B Ordinary Share [Member]

Shares issued (in Shares) | shares

8,625,000

Founder Shares (in Shares) | shares

^[1]

7,187,500

Cartesian Growth Corp [Member] | Class B Ordinary Share [Member] | Founder Shares [Member]

Founder Shares (in Shares) | shares

1,125,000

[1]

Commitments and Contingencies (Details)			1 Months Ended		9 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Sep. 19, 2021 USD ($)	Feb. 26, 2021 USD ($)	Oct. 31, 2021 GBP (£)	Mar. 31, 2019 EUR (€)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 EUR (€)	Sep. 30, 2021 EUR (€)	Dec. 31, 2020 GBP (£)	Dec. 31, 2019 GBP (£)
Commitments and Contingencies (Details) [Line Items]
Other commitment							£ 0
Revolving Credit Facility [Member]
Commitments and Contingencies (Details) [Line Items]
Line of credit facility, maximum borrowing capacity							15,000,000
Line of credit							10,250,000			£ 8,750,000	£ 0
Iskander SAS [Member]
Commitments and Contingencies (Details) [Line Items]
Deferred consideration payable on acquisition per installment due \| €				€ 525,000
Percentage of increase decrease in assets under management				10.00%
Deferred consideration payable threshold aggregate downward price adjustment				€ 575,000			£ 514,081	€ 575,000
Derecognition of deferred consideration acquisition installment due \| €									€ 575,000
Alvarium Social Housing Advisors Ltd [Member] \| Increase in holdings in subsidiaries [Member]
Commitments and Contingencies (Details) [Line Items]
Percentage of voting interests to be acquired						5.70%	5.70%	5.70%
Other commitment							£ 330,435
LXI REIT Advisors Ltd [Member]
Commitments and Contingencies (Details) [Line Items]
Other commitment							£ 3,927,160
LXI REIT Advisors Ltd [Member] \| Increase in holdings in subsidiaries [Member]
Commitments and Contingencies (Details) [Line Items]
Percentage of voting interests to be acquired						11.50%	11.50%	11.50%
Other commitment			£ 3,927,160
Cartesian Growth Corp [Member]
Commitments and Contingencies (Details) [Line Items]
Underwriting discount percent		2.00%
Gross proceeds \| $		$ 6,900,000			$ 12,075,000	$ 12,075,000
Deferred underwriting discount percent					3.50%	3.50%	3.50%	3.50%
Cartesian Growth Corp [Member] \| BofA Securities, Inc. ("BofA") [Member]
Commitments and Contingencies (Details) [Line Items]
Advisory fee \| $	$ 3,000,000
Advisory Fee \| $	$ 3,000,000
Underwriting Agreement [Member] \| Cartesian Growth Corp [Member]
Commitments and Contingencies (Details) [Line Items]
Underwriting agreement, description					The underwriter had a 45-day option from the date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions.	The underwriter had a 45-day option from the date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions.	The underwriter had a 45-day option from the date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions.	The underwriter had a 45-day option from the date of the IPO to purchase up to an aggregate of 4,500,000 additional Units at the public offering price less the underwriting commissions.

Class A Ordinary Shares Subject to Possible Redemption (Details)	Sep. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2021 £ / shares shares	Feb. 23, 2021 shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2020 £ / shares shares	Dec. 31, 2019 £ / shares
Cartesian Growth Corp [Member]
Temporary Equity [Line Items]
Common stock, shares issued				8,625,000
Common Class A Member
Temporary Equity [Line Items]
Common stock par value (in Dollars per share) \| £ / shares			£ 0.01			£ 0.01	£ 0.01
Common Class A Member \| Cartesian Growth Corp [Member]
Temporary Equity [Line Items]
Common stock, shares authorized	200,000,000	200,000,000	200,000,000		200,000,000	200,000,000
Common stock par value (in Dollars per share) \| $ / shares	$ 0.0001	$ 0.0001			$ 0.0001
Common stock, shares issued	0	0	0		0	0
Common stock, shares outstanding	0	0	0		0	0
Shares issued	34,500,000	34,500,000	34,500,000
Common Class A Member \| Subject To Possible Redemption [Member] \| Cartesian Growth Corp [Member]
Temporary Equity [Line Items]
Common stock, shares issued	34,500,000	34,500,000	34,500,000
Common stock, shares outstanding	34,500,000	34,500,000	34,500,000

Shareholders' Deficit (Details)

1 Months Ended

9 Months Ended

12 Months Ended

Feb. 23, 2021

Dec. 31, 2020

$ / shares

Feb. 23, 2021

Sep. 30, 2022

$ / shares

Dec. 31, 2021

$ / shares

Dec. 31, 2021

£ / shares

Dec. 31, 2020

£ / shares

Dec. 31, 2019

£ / shares

Preference shares, shares authorized

1,000,000

Preference shares, par value (in Dollars per share) | $ / shares

$ 0.0001

Issued and outstanding shares of public offering, percentage

8,625,000

20.00%

Class A Ordinary Shares

Common stock par value (in Dollars per share) | £ / shares

£ 0.01

Class A Ordinary Shares | Cartesian Growth Corp [Member]

Common stock, shares authorized

200,000,000

Common stock par value (in Dollars per share) | $ / shares

$ 0.0001

Subject to possible redemption shares

34,500,000

Common stock, shares outstanding

Class A Ordinary Shares | Subject To Possible Redemption [Member] | Cartesian Growth Corp [Member]

34,500,000

Common stock, shares outstanding

34,500,000

34,500,000

Class B Ordinary Shares [Member] | Cartesian Growth Corp [Member]

Common stock, shares authorized

20,000,000

Common stock par value (in Dollars per share) | $ / shares

$ 0.0001

Common stock, shares outstanding

7,187,500

8,625,000

7,187,500

7,187,500

8,625,000

7,187,500

8,625,000

Class B Ordinary Shares [Member] | Founder Shares [Member] | Cartesian Growth Corp [Member]

^[1]

7,187,500

1,125,000

[1]

Fair Value Measurements (Details) - Schedule of the Company's assets and liabilities that are measured at fair value on a recurring basis - Cartesian Growth Corp [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Assets:
U.S. Money Market held in Trust Account	$ 347,105,214	$ 345,031,308
Liabilities:
Warrants Liability	6,365,078	23,093,609
Public Warrants Liability [Member]
Liabilities:
Warrants Liability	3,278,650	12,765,000
Private Warrants Liability [Member]
Liabilities:
Warrants Liability	3,086,428	10,328,609
Quoted Prices In Active Markets (Level 1) [Member]
Assets:
U.S. Money Market held in Trust Account	347,105,214	345,031,308
Liabilities:
Warrants Liability	3,278,650	12,765,000
Quoted Prices In Active Markets (Level 1) [Member] \| Public Warrants Liability [Member]
Liabilities:
Warrants Liability	3,278,650	12,765,000
Quoted Prices In Active Markets (Level 1) [Member] \| Private Warrants Liability [Member]
Liabilities:
Warrants Liability
Significant Other Observable Inputs (Level 2) [Member]
Assets:
U.S. Money Market held in Trust Account
Liabilities:
Warrants Liability
Significant Other Observable Inputs (Level 2) [Member] \| Public Warrants Liability [Member]
Liabilities:
Warrants Liability
Significant Other Observable Inputs (Level 2) [Member] \| Private Warrants Liability [Member]
Liabilities:
Warrants Liability
Significant Other Unobservable Inputs (Level 3) [Member]
Assets:
U.S. Money Market held in Trust Account
Liabilities:
Warrants Liability	3,086,428	10,328,609
Significant Other Unobservable Inputs (Level 3) [Member] \| Public Warrants Liability [Member]
Liabilities:
Warrants Liability
Significant Other Unobservable Inputs (Level 3) [Member] \| Private Warrants Liability [Member]
Liabilities:
Warrants Liability	$ 3,086,428	$ 10,328,609

Fair Value Measurements (Details) - Schedule of changes Level 3 liabilities - Cartesian Growth Corp [Member] - USD ($)	3 Months Ended			12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Line Items]
Fair Value at January 1, 2021	$ 5,872,113	$ 5,646,455	$ 10,328,609	$ 0
Initial fair value of public and private warrants				27,004,700
Transfer of public warrants to Level 1				(15,007,500)
Change in fair value	(2,785,685)	225,658	(4,682,154)	(1,668,591)
Fair Value at December 31, 2021	$ 3,086,428	$ 5,872,113	$ 5,646,455	$ 10,328,609

Fair Value Measurements (Details) - Schedule of Schedule of Key Inputs into the Monte Carlo Simulation Model - Cartesian Growth Corp [Member] - $ / shares		9 Months Ended	12 Months Ended
	Feb. 26, 2021	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Line Items]
Risk-free interest rate	0.98%	4.05%	1.30%
Expected term remaining (years)	6 years 1 month 17 days	5 years 2 months 8 days	5 years 5 months 26 days
Expected volatility	24.20%	34.10%	17.50%
Trading stock price	$ 9.565	$ 9.91	$ 9.88

Fair Value Measurements (Details) - Cartesian Growth Corp [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	May 25, 2022
Conversion Option [Member]
Fair Value Disclosures [Line Items]
Fair value transfers between levels		$ 0
Liabilities, fair Value disclosure	$ 0	0	$ 41,331
Fair Value, Inputs, Level 1, 2 and 3 [Member]
Fair Value Disclosures [Line Items]
Fair value transfers between levels	$ 0	$ 0

Fair Value Measurements (Details) - Schedule of Warrant Valuation Terms - Cartesian Growth Corp [Member] - $ / shares			9 Months Ended	12 Months Ended
	May 25, 2022	Feb. 26, 2021	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Line Items]
Risk-free interest rate		0.98%	4.05%	1.30%
Expected term remaining (years)		6 years 1 month 17 days	5 years 2 months 8 days	5 years 5 months 26 days
Expected volatility		24.20%	34.10%	17.50%
Trading stock price		$ 9.565	$ 9.91	$ 9.88
Working Capital Note [Member]
Fair Value Disclosures [Line Items]
Risk-free interest rate	2.72%		4.05%
Expected term remaining (years)	5 years 3 months 25 days		5 years 2 months 8 days
Expected volatility	10.90%		34.10%
Trading stock price	$ 9.77		$ 9.91

Fair Value Measurements (Details) - Schedule of Compound Option Terms - Conversion Option [Member] - Cartesian Growth Corp [Member]	Sep. 30, 2022 shares	May 25, 2022 shares
Strike Price Debt Conversion [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	1	1
Strike price warrants [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	11.5	11.5
Term Debt Conversion [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	0.19	0.32
Term Warrant Conversion [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	5.19	5.32
Probability of Consummation of a Business Combination [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	90	90
Probability of consummation of a Business Combination – Target Date 11/30/2022 [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	90	90
Probability of consummation of a Business Combination – Target Date 2/28/2023 [Member]
Fair Value Disclosures [Line Items]
Embedded Derivative Liability, Measurement Input	10	10

Fair Value Measurements (Details) - Schedule of changes in the fair value of the Level 3 conversion option - Conversion Option [Member] - Cartesian Growth Corp [Member] - USD ($)	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, Beginning balance	$ 5,998	$ 41,331
Change in fair value	(5,998)	(35,333)
Fair value, Ending balance	$ 0	$ 5,998

Events after the reporting period (Details)			1 Months Ended							9 Months Ended	12 Months Ended
Events after the reporting period (Details)	Jul. 11, 2022 GBP (£)	Jan. 20, 2021 GBP (£) £ / shares	Dec. 31, 2021 GBP (£) £ / shares shares	Oct. 31, 2021 GBP (£) £ / shares shares	Sep. 30, 2021 GBP (£) £ / shares shares	Jun. 30, 2021 GBP (£) £ / shares shares	Apr. 30, 2021 GBP (£) £ / shares shares	Mar. 31, 2021 GBP (£) £ / shares shares	Jan. 31, 2021 GBP (£) £ / shares shares	Sep. 30, 2022	Dec. 31, 2021 £ / shares	Oct. 25, 2022 USD ($) shares
Subsequent Event [Line Items]
Debt instrument, maturity date										Jan. 07, 2023
Subordinated Shareholders Loans [Member]
Subsequent Event [Line Items]
Debt instrument convertible conversion period		2021-10
Subsequent Event [Member] \| Subordinated Shareholders Loans [Member]
Subsequent Event [Line Items]
Debt instrument face value \| £		£ 8,650,667
Debt instrument percentage of accrued interest		12.00%
Debt instrument, maturity date		Jun. 30, 2023
Debt instrument, convertible, conversion price \| £ / shares		£ 203.73
Stockholders' equity, period increase \| £		£ 9,500,000
Subsequent Event [Member] \| LXI REIT Advisors Ltd [Member]
Subsequent Event [Line Items]
Percentage of voting interests to be acquired			8.00%	3.50%			2.00%		27.50%
Sale of stock, number of shares issued in transaction			80	35			20		240
Sale of stock, price per share \| £ / shares			£ 0.01	£ 0.01			£ 0.01		£ 0.01		£ 0.01
Business combination, step acquisition, equity interest in acquiree, fair value \| £			£ 2,791,760	£ 1,135,400			£ 648,800		£ 9,786,067
Subsequent Event [Member] \| Alvarium Social Housing Advisors Ltd [Member]
Subsequent Event [Line Items]
Percentage of voting interests to be acquired											17.90%
Sale of stock, number of shares issued in transaction			57		50	50	29	50
Sale of stock, price per share \| £ / shares			£ 0.01		£ 0.01	£ 0.01	£ 0.01	£ 0.01			£ 0.01
Business combination, step acquisition, equity interest in acquiree, fair value \| £			£ 330,435		£ 289,855	£ 289,855	£ 274,663	£ 289,855
Subsequent Event [Member] \| LXI REIT Advisors Ltd [Member] \| Customer Relationships [Member]
Subsequent Event [Line Items]
Asset acquisition consideration transferred equity interest issued \| £	£ 40,000,000
Subsequent Event [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Percentage of shares subject to restriction in transfer												100.00%
Percentage of shares subject to restriction in transfer one												50.00%
Subsequent Event [Member] \| Alvarium [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Fees payable in case of termination of agreement \| $												$ 5,500,000
Subsequent Event [Member] \| TWMH And TIG [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Fees payable in case of termination of agreement \| $												$ 11,000,000
Subsequent Event [Member] \| Earnout Shares Payable To TWMH [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Business combination contingent consideration payable in shares												1,050,000
Subsequent Event [Member] \| Earnout Shares Payable To TIG Entities [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Business combination contingent consideration payable in shares												1,050,000
Subsequent Event [Member] \| Common Class A [Member] \| Post Business Combination Equity Incentive Plan [Member] \| SPAC Class A Common Stock [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Common stock shares reserved for future issuance												11,788,132
Subsequent Event [Member] \| Common Class A [Member] \| Post Business Combination Employee Stock Purchase Plan [Member] \| SPAC Class A Common Stock [Member] \| A And R Business Combination Agreement [Member] \| Cartesian Growth Corp [Member]
Subsequent Event [Line Items]
Common stock shares reserved for future issuance												1,813,559

Interest Receivable (Details) - Schedule of Interest Receivable - GBP (£)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest and Other Income [Abstract]
Interest on loans and receivables	£ 44,002	£ 100,694	£ 31,735
Interest on cash and cash equivalents	313	1,700	2,588
Interest receivable from joint ventures and associates	159,755	146,690	107,922
Total	£ 204,070	£ 249,084	£ 142,245

Interest Receivable (Details) - GBP (£)	12 Months Ended
Interest Receivable (Details) - GBP (£)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Income, Operating	£ 204,070	£ 249,084	£ 142,245
Financial Assets At Amortised Cost [Member]
Interest Income, Operating	£ 204,070	£ 249,084	£ 142,245

Income From Other Fixed Asset Investments (Details) - Schedule Of Income From Other Fixed Asset Investments - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Income Loss From Other Fixed Asset Investments [Line Items]
Income from disposal of asset held at book value	£ 0	£ 530,170	£ 530,170	£ 0	£ 0
Dividends from other fixed asset investments			17,619	3,158	62,995
Other income	10,370	17,619
Total income from other fixed asset investments	£ 10,370	£ 547,789	£ 547,789	£ 3,158	£ 62,995

Interest Payable (Details) - Schedule of Interest Payable - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Expense [Abstract]
Interest on banks loans and overdrafts			£ 626,214	£ 631,866	£ 655,819
Interest on obligations under finance leases and hire purchase contracts			19,683	37,226	53,488
Interest on shareholder loan facility			844,053	0	0
Other interest payable and similar charges			321,520	60,496	104,150
Total	£ 2,981,105	£ 1,491,055	£ 1,811,470	£ 729,588	£ 813,457

Interest Payable (Details) - GBP (£)	9 Months Ended		12 Months Ended
Interest Payable (Details) - GBP (£)	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Payable [Abstract]
Interest Expense	£ 2,981,105	£ 1,491,055	£ 1,811,470	£ 729,588	£ 813,457

Operating loss / profit (Details) - Schedule Of Operating Profit or Loss - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Operating Profit Loss [Line Items]
Depreciation of tangible assets	£ 368,699	£ 417,606	£ 552,293	£ 536,319	£ 438,768
Impairment of trade debtors	1,326,832	170,345	277,682	439,829	537,976
Equity-settled share-based payments (credit)/expense	0	(1,333)	(1,333)	7,296	8,818
Cash-settled share-based payments	10,442,728	(1,333)
Foreign exchange differences	£ (1,607,419)	£ (57,806)	£ 278,611	£ 451,027	£ (122,097)

Gain on Disposal of Investment in Joint Venture (Details) - Schedule Of Gain On Disposal Of Investments In Joint Venture - GBP (£)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disposal of Investments in Joint Venture [Member]
Schedule of Gain Loss on Disposal of Investments in Joint Venture [Line Items]
Gain on disposal of interests in JV	£ 4,660,853	£ 0

Gain on Disposal of Investment in Joint Venture - (Details) £ in Thousands	9 Months Ended
	Sep. 30, 2022 GBP (£) Instalment
Schedule of Gain Loss on Disposal of Investments in Joint Venture [Line Items]
Number of instalments within which deferred consideration will be received \| Instalment	10
Deferred consideration non current receivable discount rate	8.00%
Disposal of Investments in Joint Venture [Member]
Schedule of Gain Loss on Disposal of Investments in Joint Venture [Line Items]
Investments in joint venture disposed consideration	£ 7,300
Deferred consideration receivable on sale of investments in joint venture	2,700
Deferred consideration receivable year one	692
Deferred consideration receivable year over five years	1,975
Accrued income consideration receivable	£ 4,600
Alvarium Investment Limited [Member] \| Disposal of Investments in Joint Venture [Member]
Schedule of Gain Loss on Disposal of Investments in Joint Venture [Line Items]
Percentage of disposal of ownership interest	46.00%
Templeton C&M Holdco Limited and NZ PropCo Holdings Limited [Member] \| Disposal of Investments in Joint Venture [Member]
Schedule of Gain Loss on Disposal of Investments in Joint Venture [Line Items]
Percentage of disposal of ownership interest	23.00%

Taxation on Ordinary Activities (Details) - Schedule of Components of Income Tax Expense (Benefit) - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current tax:
UK current tax expense	£ 0	£ 521,217	£ 303,357	£ 686,159	£ 550,281
Adjustments in respect of prior periods			380	(18,420)	0
Total UK current tax	0	521,217	303,737	667,739	550,281
Foreign current tax expense	294,578	265,691	517,781	362,736	284,363
Adjustments in respect of prior periods	26,709	0	(20,344)	30,727	(2,098)
Total foreign tax	321,287	265,691	497,437	393,463	282,265
Total current tax	321,287	786,908	801,174	1,061,202	832,546
Deferred tax:
Origination and reversal of timing differences	(720,671)	75,762	1,407,915	(142,158)	1,081
Impact of change in tax rate	(218,318)	0	(156,063)	58,184	(322,603)
Recognition of DTAs for previously unrecognised losses	(36,468)	(1,475,928)	(2,589,487)	(1,292,391)	0
Total deferred tax	(975,457)	(1,400,166)	(1,337,635)	(1,376,365)	(321,522)
Taxation on ordinary activities	£ (654,170)	£ (613,258)	£ (536,461)	£ (315,163)	£ 511,024

Taxation on Ordinary Activities (Details) - Schedule of Effective Income Tax Rate Reconciliation - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Profit/(loss) on ordinary activities before taxation	£ (10,700,888)	£ 3,947,688	£ 1,411,413	£ (3,692,354)	£ (3,222,070)
Profit/(loss) on ordinary activities by rate of tax			268,168	(701,547)	(612,193)
Adjustment to tax charge in respect of prior periods			(19,964)	12,307	(2,098)
Effect of expenses not deductible for tax purposes			1,672,344	369,791	0
Effect of capital allowances and depreciation			52,978	3,298	420,326
Effect of revenue exempt from tax			(3)	(125,015)	(15,960)
Effect of different overseas tax rates on some earnings			(193,301)	(218,185)	(3,893)
Utilisation of tax losses			(422,151)	(95,239)	(304,019)
Unused tax losses			402,001	1,235,991	(110,440)
Gain/(loss) on disposal not taxable			28,173	(99,993)	913,825
Amortisation arising on consolidation			651,675	662,877	(26,736)
Recognition of DTAs for previously unrecognised losses			(2,589,487)	(1,292,391)	538,864
Effect of change in UK tax rates			(156,063)	0	(322,603)
Specific tax allowance in US subsidiary			0	(98,199)	(98,829)
Income from associates and JV's not taxable in group			(230,831)	31,142	134,780
Taxation on ordinary activities	£ (654,170)	£ (613,258)	£ (536,461)	£ (315,163)	£ 511,024

Taxation on Ordinary Activities (Details)		1 Months Ended	12 Months Ended
Taxation on Ordinary Activities (Details)	Apr. 01, 2023	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Line Items]
Statutory tax rate		25.00%	19.00%	19.00%	19.00%
Subsequent Event [Member]
Income Tax Disclosure [Line Items]
Statutory tax rate	25.00%

Tangible Assets (Detail) - Schedule of Property and Plant Equipment - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Beginning balance ,Cost	£ 3,381,516	£ 3,225,703	£ 3,225,703	£ 2,705,901
Additions	1,045,460		415,228	381,522
Disposals	(66,757)		(237,380)	(32,900)
Acquisitions through bus. combs				156,113
Disposals through bus. combs.				(2,241)
Translation gains/(losses)	199,708		(22,035)	17,308
Ending balance ,Cost	4,559,927		3,381,516	3,225,703	£ 2,705,901
Beginning balance, Depreciation	2,623,364	2,310,290	2,310,290	1,668,972
Charge for the year	368,699	417,606	552,293	536,319	438,768
Disposals	(61,513)		(219,404)	(32,900)
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Disposals Through Business Combinations				(1,519)
Translation (gains)/losses	142,862		(19,815)	15,172
Acquisitions through bus. combs				124,246
Ending balance ,Depreciation	3,073,412		2,623,364	2,310,290	1,668,972
Ending balance	1,486,515		758,152	915,413	1,036,929
Ending balance			165,505	286,983
Land and Building [Member]
Property, Plant and Equipment [Line Items]
Beginning balance ,Cost	893,306	887,072	887,072	868,001
Additions	942,300		5,208	22,102
Disposals	0		0	0
Acquisitions through bus. combs				0
Disposals through bus. combs.				0
Translation gains/(losses)	21,475		1,026	(3,031)
Ending balance ,Cost	1,857,081		893,306	887,072	868,001
Beginning balance, Depreciation	725,991	509,023	509,023	294,406
Charge for the year	148,587		216,599	215,527
Disposals	0		0	0
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Disposals Through Business Combinations				0
Translation (gains)/losses	7,349		369	(910)
Acquisitions through bus. combs				0
Ending balance ,Depreciation	881,927		725,991	509,023	294,406
Ending balance	975,154		167,315	378,049	573,595
Ending balance			165,505	248,258
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Beginning balance ,Cost	704,325	685,643	685,643	605,633
Additions	18,884		26,869	81,008
Disposals	0		(8,501)	0
Acquisitions through bus. combs				0
Disposals through bus. combs.				0
Translation gains/(losses)	29,765		314	(998)
Ending balance ,Cost	752,974		704,325	685,643	605,633
Beginning balance, Depreciation	555,008	477,337	477,337	358,305
Charge for the year	39,072		86,126	118,970
Disposals	0		(8,501)	0
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Disposals Through Business Combinations				0
Translation (gains)/losses	23,078		46	62
Acquisitions through bus. combs				0
Ending balance ,Depreciation	617,158		555,008	477,337	358,305
Ending balance	135,816		149,317	208,306	247,328
Ending balance			0	25,988
Equipment [Member]
Property, Plant and Equipment [Line Items]
Beginning balance ,Cost	1,783,885	1,652,988	1,652,988	1,232,267
Additions	84,276		383,151	278,412
Disposals	(66,757)		(228,879)	(32,900)
Acquisitions through bus. combs				156,113
Disposals through bus. combs.				(2,241)
Translation gains/(losses)	148,468		(23,375)	21,337
Ending balance ,Cost	1,949,872		1,783,885	1,652,988	1,232,267
Beginning balance, Depreciation	1,342,365	£ 1,323,930	1,323,930	1,016,261
Charge for the year	181,040		249,568	201,822
Disposals	(61,513)		(210,903)	(32,900)
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Disposals Through Business Combinations				(1,519)
Translation (gains)/losses	112,435		(20,230)	16,020
Acquisitions through bus. combs				124,246
Ending balance ,Depreciation	1,574,327		1,342,365	1,323,930	1,016,261
Ending balance	£ 375,545		441,520	329,058	£ 216,006
Ending balance			£ 0	£ 12,737

Intangible Assets - Schedule of Intangible Assets (Details) - GBP (£)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	£ 33,642,087	£ 39,663,886	£ 44,637,674
Ending balance	69,514,613	33,642,087	39,663,886
Goodwill [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	14,839,552	18,518,313	21,291,591
Ending balance	12,783,104	14,839,552	18,518,313
Patents, trademarks and licences [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	0	0	0
Ending balance		0	0
Client lists [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	18,802,535	21,145,573	23,346,083
Ending balance	56,731,509	18,802,535	21,145,573
Cost [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	64,677,399	64,975,456	64,125,544
Additions	40,000,000	0	0
Translation gains/(losses)	1,707,462	(298,057)	434,069
Disposals			(37,645)
Acquisitions through business combinations			453,488
Ending balance	106,384,861	64,677,399	64,975,456
Cost [Member] \| Goodwill [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	33,914,523	34,163,414	33,447,865
Additions		0	0
Translation gains/(losses)	561,187	(248,891)	299,706
Disposals			(37,645)
Acquisitions through business combinations			453,488
Ending balance	34,475,710	33,914,523	34,163,414
Cost [Member] \| Patents, trademarks and licences [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	524,848	524,848	524,848
Additions		0	0
Translation gains/(losses)		0	0
Disposals			0
Acquisitions through business combinations			0
Ending balance	524,848	524,848	524,848
Cost [Member] \| Client lists [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	30,238,028	30,287,194	30,152,831
Additions	40,000,000	0	0
Translation gains/(losses)	1,146,275	(49,166)	134,363
Disposals			0
Acquisitions through business combinations			0
Ending balance	71,384,303	30,238,028	30,287,194
Amortisation [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	31,035,312	25,311,570	19,487,870
Charge for the year	5,834,936	5,723,742	5,823,700
Ending balance	36,870,248	31,035,312	25,311,570
Amortisation [Member] \| Goodwill [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	19,074,971	15,645,101	12,156,274
Charge for the year	2,617,635	3,429,870	3,488,827
Ending balance	21,692,606	19,074,971	15,645,101
Amortisation [Member] \| Patents, trademarks and licences [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	524,848	524,848	524,848
Charge for the year		0	0
Ending balance	524,848	524,848	524,848
Amortisation [Member] \| Client lists [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Beginning balance	11,435,493	9,141,621	6,806,748
Charge for the year	3,217,301	2,293,872	2,334,873
Ending balance	£ 14,652,794	£ 11,435,493	£ 9,141,621

Intangible Assets (Details) £ in Millions	Jul. 11, 2022 GBP (£)
Schedule of Intangible Assets and Goodwill [Line Items]
Intangible assets amortization period	6 years
LXI REIT Advisors Limited [Member] \| Customer Relationships [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Asset acquisition consideration transferred equity interest issued	£ 40
LXI REIT Advisors Limited [Member] \| Customer Relationships [Member] \| Intangible Asset [Member]
Schedule of Intangible Assets and Goodwill [Line Items]
Asset acquisition indemnification asset amount	£ 40

Executory Contracts (Details)	Dec. 31, 2020 GBP (£)
Executory contracts intrinsic value	£ 270,013

Employee Benefits (Details) - GBP (£)	12 Months Ended
Employee Benefits (Details) - GBP (£)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Expense related to defined contribution plan	£ 1,092,981	£ 1,063,009	£ 901,531

Related Party Transactions (Detail) - Summary of Related Party Transactions - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Individuals [Member]
Related Party Transaction [Line Items]
Owed to balance	£ (22,908)		£ (532,073)
Related Individuals [Member] \| Ali Bouzarif [Member] \| Revenue Share [Member]
Related Party Transaction [Line Items]
Nature of RPT	Revenue share		Revenue share
Transaction value	£ (335,337)	£ (400,772)	£ (532,073)
Owed to balance	(22,908)		(532,073)
Associates and JVs [Member]
Related Party Transaction [Line Items]
Owed to balance	(827,159)		(749,005)
Owed by balance	£ 5,472,090		5,771,801
Associates and JVs [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Owed to balance			(749,005)	£ (219,998)
Associates and JVs [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Owed by balance			£ 5,771,802	4,669,533
Associates and JVs [Member] \| Non-Executive Director of a trading subsidiary [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value				(4,000)
Owed to balance				(2,000)
Associates and JVs [Member] \| Queensgate Investments 1 Sarl [Member] \| Loan Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Loan payable
Owed to balance	£ (5,625)		£ (5,625)
Associates and JVs [Member] \| Queensgate Investments 1 Sarl [Member] \| Loan Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan payable
Owed to balance			£ (5,625)
Associates and JVs [Member] \| Queensgate Investments II GP LLP [Member] \| Loan Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Loan payable
Owed to balance	£ (178,149)		£ (178,149)
Associates and JVs [Member] \| Queensgate Investments II GP LLP [Member] \| Loan Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan payable
Owed to balance			£ (178,149)	(178,149)
Associates and JVs [Member] \| Alvarium Wealth (NZ) Limited [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Owed to balance			£ (34,113)
Associates and JVs [Member] \| Alvarium Wealth (NZ) Limited [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ (60,378)
Owed to balance			(34,113)
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Owed to balance			£ (137,497)
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ (137,497)	(349,094)
Owed to balance			(137,497)
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value		38,538
Owed by balance			£ 85,565
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 85,565	777
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Owed by balance			£ 1,434,572
Associates and JVs [Member] \| Alvarium Investments (NZ) Limited [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (20,873)	920,371	£ 1,959,775
Owed by balance			1,434,572	1,508,012
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Owed to balance			£ (233,663)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ (562,888)	(15,519)
Owed to balance			£ (170,278)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Loan Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan payable
Transaction value					180,000
Owed to balance			£ (63,385)	(63,385)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Expenses Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses payable
Owed to balance			£ (16)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Expenses Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses payable
Transaction value			£ 218
Owed to balance			(16)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Owed by balance			£ 15,881
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value		12,523
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Expenses Receivable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed to balance				(52,376)
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 13,694
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Owed by balance			£ 10,000
Associates and JVs [Member] \| Alvarium Capital Partners Limited [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 10,000
Owed by balance			£ 12,187
Associates and JVs [Member] \| Alvarium Investment Managers (Suisse) [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Transaction value	£ (74,016)
Owed to balance	£ (24,568)
Associates and JVs [Member] \| Alvarium Investment Managers (Suisse) [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ (55,623)	23,252	(83,315)
Owed to balance				(33,124)
Associates and JVs [Member] \| Alvarium Investment Managers (Suisse) [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 17,226	1,497
Owed by balance	£ 21,436		£ 9,115
Associates and JVs [Member] \| Alvarium Investment Managers (Suisse) [Member] \| Expenses Receivable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance				4,284
Associates and JVs [Member] \| Alvarium Investment Managers (Suisse) [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 9,115
Associates and JVs [Member] \| Cresco Capital Advisors LLP [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Transaction value	£ 18,000	18,000
Owed to balance			£ (7,200)
Associates and JVs [Member] \| Cresco Capital Advisors LLP [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ 18,000
Owed to balance			£ (7,200)
Associates and JVs [Member] \| Cresco Capital Advisors LLP [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 24,000	24,000	31,250
Owed by balance				7,200
Associates and JVs [Member] \| Pointwise Partners [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees payable
Transaction value	£ (1,360,302)	(874,101)
Owed to balance	£ (618,817)		£ (152,742)
Associates and JVs [Member] \| Pointwise Partners [Member] \| Fees Payable [Member] \| Owed To [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value			£ (152,742)
Owed to balance			(152,742)
Associates and JVs [Member] \| Pointwise Partners [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 42,347	29,645
Owed by balance	£ 231,386		189,041
Associates and JVs [Member] \| Pointwise Partners [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Transaction value	£ 976,461	934,705
Owed by balance	£ 2,726,658		£ 1,750,197
Associates and JVs [Member] \| Pointwise Partners [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ 972,157	778,040
Owed by balance			1,750,197	778,040
Associates and JVs [Member] \| Pointwise Partners [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Transaction value	£ 156,418	64,105
Owed by balance	£ 182,708		£ 24,022
Associates and JVs [Member] \| Pointwise Partners [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 213,063
Owed by balance			213,063
Associates and JVs [Member] \| Alvarium Core Partners LLP [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 2,488	2,590
Owed by balance	£ 7,570		£ 5,081
Associates and JVs [Member] \| Alvarium Core Partners LLP [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 5,081	1,605
Associates and JVs [Member] \| Alvarium Core Partners LLP [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value				435,000	403,000
Associates and JVs [Member] \| Alvarium Investments (Aus) Pty Ltd [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 30,965
Owed by balance	£ 32,013		£ 1,048
Associates and JVs [Member] \| Alvarium Investments (Aus) Pty Ltd [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 1,048	404
Associates and JVs [Member] \| Alvarium Investments (Aus) Pty Ltd [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Transaction value	£ 114,574	26,342
Owed by balance	£ 560,095		£ 445,342
Associates and JVs [Member] \| Alvarium Investments (Aus) Pty Ltd [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (4,906)
Owed by balance			445,342	450,248
Associates and JVs [Member] \| Alvarium Osesam [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 87,739	77,050
Owed by balance	£ 147,093		£ 53,545
Associates and JVs [Member] \| Alvarium Osesam [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 53,545	43,834
Associates and JVs [Member] \| Bluestar Advisors [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 2,239	748
Owed by balance	£ 3,404		£ 1,256
Associates and JVs [Member] \| Bluestar Advisors [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 1,256	192
Associates and JVs [Member] \| Bluestar Advisors [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Transaction value	£ 7,500	7,500
Owed by balance	£ 9,000
Associates and JVs [Member] \| Bluestar Diamond Limited [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 56,000
Associates and JVs [Member] \| Casteel Capital LLP [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 2,697	1,002
Owed by balance	£ 283		£ 2,534
Associates and JVs [Member] \| Casteel Capital LLP [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 2,534	32,493
Associates and JVs [Member] \| Casteel Capital LLP [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Transaction value	£ 37,800	37,800
Owed by balance	£ 37,800		£ 5,170
Associates and JVs [Member] \| Casteel Capital LLP [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 5,170
Owed by balance			5,170
Associates and JVs [Member] \| CRE S.a.r.l [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Owed by balance	£ 6,785		£ 6,498
Associates and JVs [Member] \| CRE S.a.r.l [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 6,498	6,910
Associates and JVs [Member] \| CRE S.a.r.l [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Transaction value	£ 15,033	75,038
Owed by balance			£ 9,933
Associates and JVs [Member] \| CRE S.a.r.l [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 21,103	44,340	151,710
Owed by balance			9,933	5,325
Associates and JVs [Member] \| Cresco Capital Urban Yurt Holdings 2 Sarl [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Owed by balance	£ 1,829		£ 1,752
Associates and JVs [Member] \| Cresco Capital Urban Yurt Holdings 2 Sarl [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 1,752	1,863
Associates and JVs [Member] \| Cresco Immobilien Verwaltungs [Member]
Related Party Transaction [Line Items]
Transaction value	23,923	24,270
Owed by balance	£ 139,393		£ 109,744
Associates and JVs [Member] \| Cresco Immobilien Verwaltungs [Member] \| Loan Interest [Member]
Related Party Transaction [Line Items]
Nature of RPT	Loan interest
Associates and JVs [Member] \| Cresco Immobilien Verwaltungs [Member] \| Loan Interest [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan interest
Transaction value			£ 56,394	30,265	26,855
Owed by balance			109,744	80,499
Associates and JVs [Member] \| Cresco Immobilien Verwaltungs [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Owed by balance	£ 414,522		£ 396,990
Associates and JVs [Member] \| Cresco Immobilien Verwaltungs [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ 26,593	55,431
Owed by balance			396,990	399,642
Associates and JVs [Member] \| Cresco Urban Yurt Sarl [Member]
Related Party Transaction [Line Items]
Transaction value	1,571	(16,382)
Owed by balance	£ 2,673		£ 1,000
Associates and JVs [Member] \| Cresco Urban Yurt Sarl [Member] \| Loan Interest [Member]
Related Party Transaction [Line Items]
Nature of RPT	Loan interest
Associates and JVs [Member] \| Cresco Urban Yurt Sarl [Member] \| Loan Interest [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan interest
Transaction value			£ 2,708	3,342	3,298
Owed by balance			1,000	15,294
Associates and JVs [Member] \| Cresco Urban Yurt Sarl [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Transaction value		(14,546)
Owed by balance	£ 29,033		£ 27,805
Associates and JVs [Member] \| Cresco Urban Yurt Sarl [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (31,192)
Owed by balance			£ 27,805	44,703
Associates and JVs [Member] \| Cresco Urban Yurt SLP [Member] \| Loan Interest [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan interest
Transaction value			£ 2,878	5,704	5,628
Owed by balance				18,420
Associates and JVs [Member] \| Cresco Urban Yurt SLP [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (89,944)
Owed by balance				71,524
Associates and JVs [Member] \| Hadley DM Services Limited [Member]
Related Party Transaction [Line Items]
Transaction value	(18,604)	23,327
Owed by balance	£ 99,588		£ 118,192
Associates and JVs [Member] \| Hadley DM Services Limited [Member] \| Loan Interest [Member]
Related Party Transaction [Line Items]
Nature of RPT	Loan interest
Associates and JVs [Member] \| Hadley DM Services Limited [Member] \| Loan Interest [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan interest
Transaction value			£ 32,665	60,385
Owed by balance			118,192	85,527	68,166
Associates and JVs [Member] \| Hadley DM Services Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Transaction value	£ (168,896)	(62,607)
Owed by balance	£ 530,000		£ 698,896
Associates and JVs [Member] \| Hadley DM Services Limited [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (62,606)	(258,079)
Owed by balance			£ 698,896	761,502
Associates and JVs [Member] \| Hadley Property Group Limited [Member] \| Loan Interest [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan interest
Transaction value				3,671
Owed by balance				29,413	4,000
Associates and JVs [Member] \| Hadley Property Group Limited [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Owed by balance				40,000
Associates and JVs [Member] \| NZ PropCo [Member] \| Fees Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Fees receivable
Owed by balance			£ 100,985
Associates and JVs [Member] \| NZ PropCo [Member] \| Fees Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees receivable
Transaction value			£ 100,985
Owed by balance			100,985
Associates and JVs [Member] \| Osprey Equity Partners Limited [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 21,013	7,080
Owed by balance	£ 28,138		£ 7,125
Associates and JVs [Member] \| Osprey Equity Partners Limited [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 7,125
Associates and JVs [Member] \| Osprey Equity Partners Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable
Transaction value		77,000
Owed by balance	£ 259,246		£ 259,246
Associates and JVs [Member] \| Osprey Equity Partners Limited [Member] \| Loan Receivable \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Loan receivable
Transaction value			£ (26,479)	222,224
Owed by balance			259,246	285,724	63,500
Associates and JVs [Member] \| Queensgate Investments LLP [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable
Transaction value	£ 171	705
Owed by balance	1,437		£ 1,266
Associates and JVs [Member] \| Queensgate Investments LLP [Member] \| Expenses Receivable [Member] \| Owed By [Member]
Related Party Transaction [Line Items]
Nature of RPT			Expenses receivable
Owed by balance			£ 1,261	382
Other Entities [Member]
Related Party Transaction [Line Items]
Owed from balance			1,122,050	582,998
Other Entities [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Owed from balance	£ 1,105,491		£ 1,126,491
Other Entities [Member] \| LJ Maple Duke Holdings Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable		Loan receivable
Owed from balance	£ 285,000		£ 285,000	285,000
Other Entities [Member] \| LJ Maple St Johns Wood Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		75,510	£ 75,510
Owed from balance	£ 75,510		£ 75,510
Other Entities [Member] \| LJ Maple St Johns Wood Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable		Loan receivable
Owed from balance	£ 183,306		£ 183,306	183,306
Other Entities [Member] \| LJ Maple Kensington Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		41,699	£ 41,699
Owed from balance	£ 41,699		£ 41,699
Other Entities [Member] \| LJ Maple Kensington Limited [Member] \| Loan Receivable
Related Party Transaction [Line Items]
Nature of RPT	Loan receivable		Loan receivable
Owed from balance	£ 23,020		£ 23,020	23,020
Other Entities [Member] \| LJ Maple Belgravia Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		3,430	£ 3,430
Owed from balance	£ 3,430		£ 3,430
Other Entities [Member] \| LJ Maple Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		119,119	£ 42,367
Owed from balance	£ 119,119		£ 119,119	76,752
Other Entities [Member] \| LJ Maple Abbey Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		85,850	£ 85,850
Owed from balance	£ 85,850		£ 85,850
Other Entities [Member] \| LJ Maple Chelsea Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		119,010	£ 119,010
Owed from balance	£ 119,010		£ 119,010
Other Entities [Member] \| LJ Maple Hill Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		136,567	£ 136,567
Owed from balance	£ 136,567		£ 136,567
Other Entities [Member] \| LJ Maple Tofty Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		231,186	£ 231,186
Owed from balance	£ 231,186		231,186
Other Entities [Member] \| LJ Maple Kew Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances
Transaction value		4,441
Owed from balance	£ 4,441		£ 4,441
Other Entities [Member] \| LJ Maple Nine Elms Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		(108,864)	£ (108,864)
Owed from balance	£ (108,864)		£ (108,864)
Other Entities [Member] \| LJ Maple Hamlet Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		(66,937)	£ (66,937)
Owed from balance	£ (66,937)		£ (66,937)
Other Entities [Member] \| LJ Maple Circus Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		(25,228)	£ (25,228)
Owed from balance	£ (25,228)		£ (25,228)
Other Entities [Member] \| LJ Maple Duke Limited [Member] \| Cash Advances [Member]
Related Party Transaction [Line Items]
Nature of RPT	Cash advances		Cash advances
Transaction value		(1,618)	£ (1,618)
Owed from balance	£ (1,618)		£ (1,618)
Other Entities [Member] \| Stratford Corporate Trustees Ltd [Member] \| Expenses Receivable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses receivable		Expenses receivable
Transaction value	£ 54,560	70,742		21,000
Owed from balance			£ 21,000	21,000
Other Entities [Member] \| Lepe Partners LLP [Member] \| Expenses Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT	Expenses payable		Expenses payable
Transaction value		£ (195)	£ 342	(6,080)
Owed from balance				(6,080)
Other Entities [Member] \| Wyndham Capital Management Limited [Member] \| Fees Payable [Member]
Related Party Transaction [Line Items]
Nature of RPT			Fees payable
Transaction value				£ (350,249)	£ (348,125)

Government Grants (Details) - Schedule of Amounts Recognised in Financial Statements for Government Grants - GBP (£)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Recognised in other operating income:
Government grants recognised directly in income		£ 759,664

Share-Based Payments (Details) - GBP (£)	12 Months Ended
Share-Based Payments (Details) - GBP (£)	Dec. 31, 2021	Dec. 31, 2015	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation arrangement fair value of cash settled awards liability			£ 10,761,130
Liability for cash-settled share-based payments			£ 10,761,130	£ 0
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation arrangement by share based payment award, number of shares issued		10,495
Staff turnover throughout vesting period	15.00%
Share-Based Payment Arrangement, Option [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation arrangement by share based payment award, service period	1 year
Share based compensation arrangement by share based payment award, vesting period	1 year
Share-Based Payment Arrangement, Option [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation arrangement by share based payment award, service period	3 years
Share based compensation arrangement by share based payment award, vesting period	3 years

Share-Based Payments (Details) - Schedule of Share Based Payment Expense Recognised in Profit or Loss - GBP (£)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity-settled share-based payments		£ (1,333)	£ (1,333)	£ 7,296	£ 8,818
Cash-settled share-based payments	£ 10,442,728
Total expense recognised in profit or loss	£ 10,442,728	£ (1,333)

Obligations Under Finance Leases (Details) - Summary of Finance Lease, Liability, Fiscal Year Maturity - GBP (£)	Dec. 31, 2021	Dec. 31, 2020
Finance Lease, Liability, to be Paid [Abstract]
Not later than 1 year	£ 130,009	£ 260,018
Later than 1 year and not later than 5 years	0	130,009
Finance lease, liability, to be paid	130,009	390,027
Less: future finance charges	(2,835)	(22,517)
Present value of minimum lease payments	£ 127,174	£ 367,510

Provisions (Detail) - Schedule of Reconciliation of Provisions - GBP (£)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Provisions [Abstract]
Beginning	£ 1,958,233	£ 1,978,716	£ 2,098,969	£ 2,771,200
Additions	(4,560)	39,876	1,527	(609,442)
Charge against provision	(136,304)	(57,020)	(129,076)
Foreign exchange difference	236,860	(3,339)	7,296	(62,789)
Ending	£ 2,054,229	£ 1,958,233	£ 1,978,716	£ 2,098,969

Deferred Tax (Details) - Schedule of Deferred Tax Included in the Statement of Financial Position - GBP (£)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Deferred Tax Included In The Statement Of Financial Position [Line Items]
Deferred tax assets, net	£ 3,163,812	£ 2,146,091	£ 791,503
Debtors [Member]
Schedule Of Deferred Tax Included In The Statement Of Financial Position [Line Items]
Included in debtors (note 13)	5,218,041	4,104,324	2,770,219
Provisions [Member]
Schedule Of Deferred Tax Included In The Statement Of Financial Position [Line Items]
Included in provisions (note 15)	£ (2,054,229)	£ (1,958,233)	£ (1,978,716)

Deferred Tax (Details) - Schedule of Deferred Tax Account Consists of the Tax Effect - GBP (£)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets, Net	£ 3,163,812	£ 2,146,091	£ 791,503
Accelerated capital allowances [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Liabilities	(35,748)	(41,829)	(1,911)
Unused tax losses [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets	3,916,736	3,512,706	2,681,964
Business combinations [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Liabilities	(2,016,653)	(1,916,404)	(1,976,805)
Corporate interest restriction [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets	320,882
Accrued expenses not yet tax deductible [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets	614,631	197,887	0
Specific allowance in US subsidiary [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets	£ 363,964	£ 393,731	£ 88,255

Deferred Tax (Details) - Schedule of Unrecognized Deferred Tax Assets and Liabilities - GBP (£)	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities	£ 2,773,901	£ 2,133,540	£ 2,133,540	£ 4,584,946
Accelerated capital allowances [Member]
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities		0		(64,728)
Unused tax losses [Member]
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities	2,544,105	2,018,188	2,018,188	3,551,713
Accrued expenses not yet tax deductible [Member]
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities	£ 229,796	115,352	£ 115,352	176,693
Impact of prior year adjustments [Member]
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities		0		496,628
Specific allowance in US subsidiary [Member]
Schedule Of Unrecognized Deferred Tax Assets And Liabilities [Line Items]
Unrecognised Deferred Tax Assets and Liabilities		£ 0		£ 424,640

Deferred Tax (Details)	1 Months Ended	12 Months Ended
Deferred Tax (Details)	Mar. 31, 2021	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 GBP (£)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 GBP (£)	Dec. 31, 2022 GBP (£)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 GBP (£)	Dec. 31, 2021 CHF (SFr)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 GBP (£)	Dec. 31, 2020 CHF (SFr)	Dec. 31, 2020 EUR (€)
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Operating losses carry forward									£ 13,595,618				£ 9,353,421
Statutory tax rate	25.00%	19.00%	19.00%	19.00%	19.00%	19.00%
Deferred tax assets									1,777,150				1,777,150
Forecast [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets							£ 1,777,150
Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Accrued Liabilities									615,759				952,818
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		£ 156,095		£ 241,539
Unrecognized Tax Benefits									115,352				176,693
Accrued Expenses Not Yet Tax Deductible [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities									197,887				0
Accrued Liabilities									1,056,334				0
Increase in Unrecognized Tax Benefits is Reasonably Possible									267,781				0
Tax Year 2022 [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible									2,853,572
Tax Year Two Thousand And Twenty Three [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible													1,777,150
United Kingdom
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets relating to unused tax losses eligible to be carried forward									2,853,572				1,777,150
United Kingdom \| Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Cumulative tax losses									2,347,834				12,749,082
Unused Tax Losses For Whichh No Deferred Tax Asset Recognised									0
United Kingdom \| Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member] \| Nineteen Percent Tax Rate [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Statutory tax rate		19.00%	19.00%
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		£ 446,088		2,422,326
United Kingdom \| Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member] \| Twenty Five Percent Tax Rate [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Statutory tax rate		25.00%	25.00%
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		£ 586,959		3,187,271
United Kingdom \| With Effect From First April Two Thousand And Twenty Three [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Statutory tax rate	25.00%
Switzerland
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets relating to unused tax losses eligible to be carried forward									53,610				123,807
Operating losses carry forward \| SFr										SFr 472,567				SFr 1,071,407
Switzerland \| Tax Year 2022 [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible \| SFr										SFr 66,112
Switzerland \| Tax Year Two Thousand And Twenty Three [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible \| SFr														SFr 149,890
USA
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets relating to unused tax losses eligible to be carried forward									605,524				781,007
Operating losses carry forward \| $								$ 3,232,320				$ 4,687,500
USA \| Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Statutory tax rate		25.35%	25.35%
Cumulative tax losses						£ 2,019,090			7,206,273				5,316,060
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		£ 1,826,790		£ 1,347,621
Unused Tax Losses For Whichh No Deferred Tax Asset Recognised									0
Unrecognized Tax Benefits									1,349,978				985,824
USA \| Tax Year 2022 [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible \| $								$ 819,393
USA \| Tax Year Two Thousand And Twenty Three [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Decrease in unrecognized tax benefits is reasonably possible \| $												$ 1,067,637
FRANCE \| Unrecognised Deferred Tax Assets and Liabilities Unused Tax Losses [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Statutory tax rate		25.00%	25.00%
Cumulative tax losses \| €											€ 1,056,679				€ 605,943
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions \| €			€ 264,170		€ 160,575
Unused Tax Losses For Whichh No Deferred Tax Asset Recognised									0
Unrecognized Tax Benefits									222,122				143,563
Arising From Business Combination From Two Thousand Fourteen To Two Thousand And Sixteen [Member]
Disclosure In Entirety Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax liabilities business combination									£ 1,916,404				£ 1,976,805

Debtors (Detail) - Summary of Debtors - GBP (£)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Receivables, Net, Current [Abstract]
Trade debtors	£ 9,732,164	£ 8,911,840	£ 5,821,677
Amounts owed by the groups associates and joint ventures	5,569,209	5,771,802	4,669,533
Deferred tax asset	5,218,041	4,104,324	2,770,219
Prepayments and accrued income	18,893,658	13,929,657	11,187,743
Corporation tax repayable	53,261	0	12,557
Deferred consideration receivable		0	0
Other debtors	8,525,058	4,285,775	4,594,370
Total	£ 47,991,391	£ 37,003,398	£ 29,056,099

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

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Commitments Under Operating Leases (Details) - Schedule Of Future Minimum Lease Payments Under Operating Leases - GBP (£)	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Not later than 1 year	£ 1,456,570	£ 0
Later than 1 year and not later than 5 years	4,653,430	3,082,584
Later than 5 years	3,095,534	3,904,607
Total future minimum lease payments	£ 9,205,534	£ 6,987,191

Other Current Assets (Details) - Summary of Other Current Assets - GBP (£)	Dec. 31, 2021	Dec. 31, 2020
Other Current Assets [Abstract]
Other investments	£ 4,254	£ 4,940

Called Up Share Capital (Details) - Schedule of Issued, Called Up and Fully Paid	Sep. 30, 2022 GBP (£)	Dec. 31, 2021 GBP (£) shares	Dec. 31, 2020 GBP (£) shares	Dec. 31, 2019 GBP (£) shares
Class of Stock [Line Items]
Stockholders' Equity, Amount	£ 48,386,304	£ 56,291,693	£ 60,791,518
Called up share capital
Class of Stock [Line Items]
Shares, Outstanding		743,318	694,888	687,960
Stockholders' Equity, Amount \| £		£ 7,433	£ 6,948	£ 6,880
Ordinary shares \| Called up share capital
Class of Stock [Line Items]
Shares, Outstanding		714,908	664,331	657,403
Stockholders' Equity, Amount \| £		£ 7,149	£ 6,643	£ 6,575
Class A Ordinary Shares \| Called up share capital
Class of Stock [Line Items]
Shares, Outstanding		28,410	28,410	28,410
Stockholders' Equity, Amount \| £		£ 284	£ 284	£ 284
Class E Ordinary Shares \| Called up share capital
Class of Stock [Line Items]
Shares, Outstanding			2,145	2,145
Stockholders' Equity, Amount \| £			£ 21	£ 21
Class E1 Ordinary Shares \| Called up share capital
Class of Stock [Line Items]
Shares, Outstanding			1	1
Class E2 Ordinary Shares \| Called up share capital
Class of Stock [Line Items]
Shares, Outstanding			1	1

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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