Limited Liability Partnership registration number OC355115 (England and Wales)
EME CAPITAL LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
EME CAPITAL LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
R A Shaheen
A Salam
Limited liability partnership number
OC355115
Registered office
73 Cornhill
London
EC3V 3QQ
Accountants
Gerald Edelman LLP
73 Cornhill
London
EC3V 3QQ
EME CAPITAL LLP
CONTENTS
Page
Members' report
1
Accountants' report
3
Statement of comprehensive income
4
Balance sheet
5
Reconciliation of members' interests
6 - 7
Notes to the financial statements
8 - 12
EME CAPITAL LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The members present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the LLP in the year under review was that of the performance of advisory, capital raising and arranging deals in investment activities.

Development and performance

The trading result for the year and the financial position at the end of the year are shown in the attached financial statements. The profit for the year before members' remuneration was £21,226 (202 4: £100,034 loss).

Members' drawings, contributions and repayments

The members participate fully in the firm's profit, share the risk and subscribe the firm's capital.

There is no opportunity for appreciation in the value of capital subscribed. Capital introduced by new members and capital repaid to retiring members is done at par.

The drawings policy of the LLP agreement allows each member to draw in advance a proportion of their annual profit share and any capital introduced in regular instalments, subject to the cash requirements of the business and the agreement of the other members. Each member is responsible for the payment of their respective tax liability based on their final profit share for the year. Undrawn profits at the end of the year may be drawn in subsequent periods subject to the cash requirements of the business and the agreement of the other members.

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

R A Shaheen
A Salam
Going concern

Having reviewed the LLP's financial forecasts and expected future cash flows, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Thus, the LLP continues to adopt the going concern basis in preparing the financial statements for the year ended 30 June 2025.

This report has been prepared in accordance with the special provisions relating to small LLP s within Part 15 of the Companies Act 2006.

Approved by the members on 10 February 2026 and signed on behalf by:
10 February 2026
R A Shaheen
Designated Member
EME CAPITAL LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

EME CAPITAL LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EME CAPITAL LLP FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EME Capital LLP for the year ended 30 June 2025 set out on pages 4 to 12 from the limited liability partnership’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the limited liability partnership's members of EME Capital LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of EME Capital LLP and state those matters that we have agreed to state to the limited liability partnership's members of EME Capital LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EME Capital LLP and its members as a body, for our work or for this report.

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

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

Gerald Edelman LLP
Accountants
73 Cornhill
London
EC3V 3QQ
10 February 2026
EME CAPITAL LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
2025
2024
£
£
Turnover
34,167
9,166
Administrative expenses
(12,941)
(15,987)
Operating profit/(loss)
21,226
(6,821)
Amounts written off investments
-
(93,213)
Profit/(loss) for the financial year before members' remuneration and profit shares available for discretionary division among members
21,226
(100,034)
EME CAPITAL LLP
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 5 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
3
-
106,587
Current assets
Debtors
4
339
822
Cash at bank and in hand
12,805
3,635
13,144
4,457
Creditors: amounts falling due within one year
5
(11,150)
(23,773)
Net current assets/(liabilities)
1,994
(19,316)
Total assets less current liabilities and net assets attributable to members
1,994
87,271
Represented by:
Members' other interests
Members' capital classified as equity
1,129,455
1,147,418
Other reserves classified as equity
(1,038,921)
(1,060,147)
1,994
87,271

For the financial year ended 30 June 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 10 February 2026 and are signed on their behalf by:
10 February 2026
R A Shaheen
Designated member
Limited Liability Partnership registration number OC355115 (England and Wales)
EME CAPITAL LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2025
£
£
£
£
£
£
Members' interests at 1 July 2024
1,147,418
(1,060,147)
87,271
-
-
87,271
Profit for the financial year available for discretionary division among members
-
21,226
21,226
-
-
21,226
Members' interests after profit for the year
1,147,418
(1,038,921)
108,497
-
-
108,497
Introduced by members
-
-
-
350
350
350
Repayments of capital
(17,963)
-
(17,963)
3,556,582
3,556,582
3,538,619
Drawings
-
-
-
(88,890)
(88,890)
(88,890)
Members' interests at 30 June 2025
1,129,455
(1,038,921)
90,534
(88,540)
(88,540)
1,994
EME CAPITAL LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2024
£
£
£
£
£
£
Amounts due from members
(3,554,426)
Members' interests at 1 July 2023
4,704,000
(960,113)
3,743,887
(3,554,426)
(3,554,426)
189,461
Loss for the financial year available for discretionary division among members
-
(100,034)
(100,034)
-
-
(100,034)
Members' interests after loss for the year
4,704,000
(1,060,147)
3,643,853
(3,554,426)
(3,554,426)
89,427
Introduced by members
-
-
-
1,000
1,000
1,000
Repayments of capital
(3,556,582)
-
(3,556,582)
3,556,582
3,556,582
-
Drawings
-
-
-
(3,156)
(3,156)
(3,156)
Members' interests at 30 June 2024
1,147,418
(1,060,147)
87,271
-
-
87,271
EME CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
1
Accounting policies
Limited liability partnership information

EME Capital LLP is a limited liability partnership incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ .

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the requirements of the Statement of Recommended Practice, 'Accounting by Limited Liability Partnerships 2019' issued in December 201 8, together with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern
The members' assessment of the ability of the LLP to continue as a going concern is set out in the Members' Report.
1.3
Turnover
Turnover represents the amounts, net of value added tax, invoiced in the period for the work done, together with the accrued revenue for services provided to clients during the period. Income is recognised when the LLP has performed services in accordance with the agreement with the relevant client and has obtained a right to consideration for those services. Where such income has not been billed at the balance sheet date it is included within accrued income.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

EME CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 9 -

Under the Members' Agreement to which the LLP is a party, all profits apart from those available for discretionary division among members are treated as being allocated in the financial year and are therefore disclosed as members' remuneration. The remainder of profit shares, which have not been allocated until after the balance sheet date are treated in the financial statements as unallocated at the balance sheet date and included within equity reserves. Members' capital is classified as in accordance with the LLP agreement (as amended on 29 November 2010).

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and a ny impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The limited liability partnership 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 limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

EME CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 10 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

EME CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 11 -
1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11
Taxation
Taxation payable on the LLP profits is the personal liability of the members, although payments of such liabilities are administered by the LLP on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation are accounted for in the financial statements. Sums set aside in respect of members' tax obligations are included within loans and other debts due to members or set against amounts due from members as appropriate.
2
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2025
2024
Notes
£
£
In respect of:
Fixed asset investments
3
-
93,213
Recognised in:
Amounts written off investments
-
93,213

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

3
Fixed asset investments
2025
2024
£
£
Unlisted investments
-
106,587
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1
-
Other debtors
338
822
339
822
EME CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
4
Debtors
(Continued)
- 12 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,000
2,676
Taxation and social security
-
9,604
Other creditors
5,150
11,493
11,150
23,773
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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