REGISTERED NUMBER: 08402407 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

AS & EH PARTNERSHIP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N Chacko

Mr J C Kollat

Mr M J Theakstone

REGISTERED OFFICE:

141-143 Shoreditch High Street

3rd Floor

London

E1 6JE

REGISTERED NUMBER:

08402407 (England and Wales)

AUDITORS:

Affinia

Chartered Accountants

3rd Floor Chancery House

St Nicholas Way

Sutton

SM1 1JB

FIXED ASSETS

Intangible assets

4

50,001

82,482

CURRENT ASSETS

Debtors

5

4,787,525

4,436,316

Cash at bank

132,688

755,311

4,920,213

5,191,627

CREDITORS

Amounts falling due within one year

6

133,982

1,072,002

NET CURRENT ASSETS

4,786,231

4,119,625

TOTAL ASSETS LESS CURRENT LIABILITIES

4,836,232

4,202,107

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

4,835,232

4,201,107

SHAREHOLDERS' FUNDS

4,836,232

4,202,107

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

Mr J C Kollat - Director

1.	STATUTORY INFORMATION

AS & EH Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover/ revenue recognition

Turnover represents custom projects, license revenue and E-Commerce revenue.

Custom projects revenue is recognised on a percentage completion basis, the license revenue is recognised at the time of providing access to the licensed fonts and delivery, which is in line with the group company policy. E-commerce revenue is recognised upon purchase of the font.

Goodwill

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flow have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Intangible asset

Intangible assets are initially recognised at cost. Subsequent to initial recognition, intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses.

Patents and licences are amortised on a straight-line basis over their estimated useful life of five years.

Development costs are amortised on a straight-line basis at a rate of 20% per annum over their estimated useful life.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents include cash on hand, cash at banks, and short-term deposits with an original maturity of three months or less. These are highly liquid investments readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 6 ).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

70,000

162,405

232,405

AMORTISATION

At 1 January 2024

70,000

79,923

149,923

Charge for year

-

32,481

32,481

At 31 December 2024

70,000

112,404

182,404

NET BOOK VALUE

At 31 December 2024

-

50,001

50,001

At 31 December 2023

-

82,482

82,482

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

62,095

492,275

Amounts owed by group undertakings

4,683,610

3,834,680

Other debtors

-

10,690

Accrued income

39,324

97,799

Prepayments

2,496

872

4,787,525

4,436,316

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

13,057

188,432

Tax

62,853

675,229

Social security and other taxes

-

3,846

Pension payable

-

667

VAT

218

25,139

Other creditors

11,692

5,578

Deferred income

17

157,127

Accrued expenses

46,145

15,984

133,982

1,072,002

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

-

-

1,000

Ordinary

£1

1,000

1,000

1,000

1,000

8.

RESERVES

Retained

earnings

£

At 1 January 2024

4,201,107

Profit for the year

634,125

At 31 December 2024

4,835,232

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Graham Speck (Senior Statutory Auditor)

for and on behalf of Affinia

12.	CONTROLLING PARTY

The ultimate controlling parties are considered to be HGGC Fund III GP Ltd as a result of an acquisition in December 2023.