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REGISTERED NUMBER: 11383319 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Adept Live Limited

Adept Live Limited (Registered number: 11383319)

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

Balance Sheet | 1 |

Adept Live Limited (Registered number: 11383319)

Balance Sheet

31 May 2025

31.5.25 | 31.5.24 |

| £ | £ | £ | £

FIXED ASSETS | 8,536 |  | 6,027 |  |

CURRENT ASSETS | 163,607 |  | 128,056 |  |

CREDITORS

Amounts falling due within one year | (600,473 | ) | (338,579 | ) |

NET CURRENT LIABILITIES | (436,866 | ) | (210,523 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (428,330 | ) | (204,496 | ) |

CREDITORS

Amounts falling due after more than one year | (1,554 | ) | (5,907 | ) |

NET LIABILITIES | (429,884 | ) | (210,403 | ) |

CAPITAL AND RESERVES | (429,884 | ) | (210,403 | ) |

NOTES TO THE FINANCIAL STATEMENTS

1. | STATUTORY INFORMATION

| Adept Live Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 11383319

| Registered office: | Abacus House

| Pennine Business Park

| Longbow Close

| Huddersfield

| West Yorkshire

| HD2 1GQ

Adept Live Limited (Registered number: 11383319)

Balance Sheet - continued

31 May 2025

NOTES TO THE FINANCIAL STATEMENTS

2. | REPORT OF THE DIRECTORS

| Reflecting on our continued growth as one of the UK's most respected and enduring house music brands Love to be... (Owned and operated by Adept Live Limited).

| Our focus on delivering exceptional experiences, nurturing partnerships, and maintaining robust growth plans has ensured the company remains in a strong position in the global dance music industry.

| Despite a competitive events landscape and ongoing economic pressures across the entertainment sector, Love to be... has demonstrated resilience, innovation, and adaptability. Revenues for our festival sized events for the year have remained healthy, supported by a vibrant calendar of events across the UK and Worldwide, alongside continued development of our digital and brand partnerships.

| During this period, investment has been made into a new office space with recording studio and equipment to develop artists via music production and DJ streams, larger scale events and production globally and also investment in bringing on board some of the worlds biggest names in dance music.

| Our commitment to quality, consistency, and audience experience continues to pay dividends. Attendance levels have remained strong, and feedback from artists, venues, and guests has been overwhelmingly positive - affirming the enduring appeal of the Love to be... experience.

| Operational efficiency has been maintained through disciplined cost control and strategic investment in areas that support long-term sustainability, including digital marketing, artist relations, artist development and event production. We have also strengthened our internal systems to support accurate reporting, compliance, and transparent financial management.

| We have invested heavily in expanding our team, our digital footprint and also pr and marketing on a global level.

| We have grown our flagship Harrogate festival from 3300 (2024) - 6000 (2025) with revenue growth of 28%.

| We have ventured and invested in new territories and partnerships (Sydney, New York, Ibiza) as well as new U.K events to expand our fanbase and grow our data.

| Investment in our radio show has now seen growth to over 100 global fm and online radio stations with a reach of over 7 million and our record label has produced 15 releases this year, investing in nurturing emerging talent and headline names.

| Our social media following has seen an increase of 35% during this period with a follower figure on socials of over 115k (cumulative) with raw data growing by 12,000 to over 41k.

| Looking ahead, Love to be… enters 2026 with confidence and momentum. A refreshed event schedule, exciting collaborations, and continued focus on creative excellence will help us build on the solid foundations of this year's success. 2025 has seen the brand nominated for best festival newcomer award at the prestigious AAA awards London alongside the likes of the U.Ks largest indoor arena Co-Op live.

| We have an investor who is assisting the company in a strategic direction, and the loans provide from the investor do not carry any interest or capital repayment charges and therefore are regarded as Quasi Equity.

| The investor has committed to the company to be repaid once further scale is achieved and or a refinancing of the company would take place.

3. | AVERAGE NUMBER OF EMPLOYEES

| The average number of employees during the year was 5 (2024 - 3 ) .

Adept Live Limited (Registered number: 11383319)

Balance Sheet - continued

31 May 2025

NOTES TO THE FINANCIAL STATEMENTS

4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

|  | 31.5.25 |  |  | 31.5.24 |  |

|  | £ |  |  | £ |  |

| Director 2 |  |

| Balance outstanding at start of year |  | 18,900 |  |  | 20,831 |  |

| Amounts advanced |  | 15,425 |  |  | 1,531 |  |

| Amounts repaid |  | (16,148 | ) |  | (3,462 | ) |

| Balance outstanding at end of year |  | 18,177 |  |  | 18,900 |  |

| Included within creditors, due within one year, is a loan from a director of £2,941 (2024 - £5,355). The loan is interest free and is payable on demand.

5. | OTHER FINANCIAL COMMITMENTS

| At the balance sheet date there was a loan outstanding of £5,720 (2024: £9,886).

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2026 and were signed on its behalf by:

Mr M D Attwater - Director

Mr A S Walker - Director