IRIS Accounts Production v25.4.12.37 SO300935 designated member 1.6.24 31.5.25 31.5.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SO300935 2024-05-31 SO300935 2025-05-31 SO300935 2024-06-01 2025-05-31 SO300935 2023-05-31 SO300935 2023-06-01 2024-05-31 SO300935 2024-05-31 SO300935 ns15:Scotland 2024-06-01 2025-05-31 SO300935 ns14:Euro 2024-06-01 2025-05-31 SO300935 ns10:PartnerLLP1 2024-06-01 2025-05-31 SO300935 ns10:LimitedLiabilityPartnershipLLP 2024-06-01 2025-05-31 SO300935 ns10:SmallEntities 2024-06-01 2025-05-31 SO300935 ns10:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 SO300935 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 SO300935 ns10:LimitedLiabilityPartnershipsSORP 2024-06-01 2025-05-31 SO300935 ns10:FullAccounts 2024-06-01 2025-05-31 SO300935 ns10:PartnerLLP2 2024-06-01 2025-05-31 SO300935 ns10:PartnerLLP3 2024-06-01 2025-05-31 SO300935 ns10:RegisteredOffice 2024-06-01 2025-05-31 SO300935 ns5:CurrentFinancialInstruments 2025-05-31 SO300935 ns5:CurrentFinancialInstruments 2024-05-31 SO300935 ns5:RevaluationsIncreaseDecreaseInInvestments 2025-05-31 SO300935 ns5:CostValuation 2025-05-31

REGISTERED NUMBER: SO300935 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 31 May 2025 |

| for |

| West Sport Alliance Limited Liability |

| Partnership |

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

General Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

West Sport Alliance Limited Liability

Partnership

General Information

for the Year Ended 31 May 2025

| DESIGNATED MEMBERS: | V Efimov

| Ms D Efimova

| Ms N Polyanskaya

| REGISTERED OFFICE: | 39/5 Granton Crescent

| Edinburgh

| EH5 1BN

| REGISTERED NUMBER: | SO300935 (Scotland)

| ACCOUNTANTS: | Garside and Co. Limited

| Suite 631, Linen Hall

| 162-168 Regent Street

| London

| W1B 5TG

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Balance Sheet

31 May 2025

| 31.5.25 |  | 31.5.24

| as restated |

| Notes | € | € |

FIXED ASSETS

Investments | 4 | 644,383 |  | 563,919 |  |

CURRENT ASSETS

Stocks | 5 | 3,500,664 |  | 1,573,321 |  |

Debtors | 6 | 8,879,692 |  | 9,408,375 |  |

Investments | 7 | 585,605 |  | 585,605 |  |

Cash at bank | 8 | 6,630,388 |  | 3,072,625 |  |

19,596,349 |  | 14,639,926 |  |

CREDITORS

Amounts falling due within one year | 9 | (3,066,770 | ) | (2,032,550 | ) |

NET CURRENT ASSETS | 16,529,579 |  | 12,607,376 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS | 17,173,962 |  | 13,171,295 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 10 | 16,772,190 |  | 12,920,040 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 401,772 |  | 251,255 |  |

17,173,962 |  | 13,171,295 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 10 | 16,772,190 |  | 12,920,040 |  |

Members' other interests | 401,772 |  | 251,255 |  |

17,173,962 |  | 13,171,295 |  |

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Balance Sheet - continued

31 May 2025

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 May 2025.

The members acknowledge their responsibilities for:

(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 February 2026 and were signed by:

V Efimov - Designated member

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements

for the Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| West Sport Alliance Limited Liability Partnership is registered in Scotland. The LLP's registered number SO300935 and registered office address at 39/5 Granton Crescent, Edinburgh, EH5 1BN.

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 1.1 Accounting convention

| These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS102 "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 euro, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest €.

| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

| 1.2 Going concern

| At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

| 1.3 Turnover

| Turnover represents the fee income for goods and services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

| 1.4 Members' participating interests

| Profit share is paid to certain members under the terms of the partnership agreement and represents an allocation of profits.

| Members from time to time make drawings, which represents allocated profits paid on account. The level and timing of these distributions is determined by management taking into account the LLP's cash requirements.

| The allocation to the members of residual profits for a financial period occurs following the finalisation of the financial statements for that period. A member's share in the profit or loss for the period is accounted for as an allocation of profits. Unallocated profits an losses are included within 'other reserves'.

| 1.5 Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

| 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.

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

| 1.7 Stocks

| Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

| At each reporting date, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

| 1.8 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.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment..

| 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.

| 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.

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

| 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 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.

| 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. Amounts 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 through 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.

| 1.9 Foreign exchange

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

| Investments in associates

| Investments in associate undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. | EMPLOYEE INFORMATION

| The average number of employees during the year was 8 (2024 - 7 ) .

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

4. | FIXED ASSET INVESTMENTS

| Interest

| in

| associate

| undertakings

€ |

| COST OR VALUATION

| At 1 June 2024 | 563,919 |  |

| Revaluations | 80,464 |  |

| At 31 May 2025 | 644,383 |  |

| NET BOOK VALUE

| At 31 May 2025 | 644,383 |  |

| At 31 May 2024 | 563,919 |  |

| The above investment represents 40% shares in IM RICOSTAN SRL (see Note 17).

5. | STOCKS

| 31.5.25 |  | 31.5.24

| as restated |

€ | € |

| Finished goods | 3,500,664 |  | 1,573,321 |  |

6. | DEBTORS

|  | 31.5.25 |  |  | 31.5.24 |  |

| restated |  |

| € |  |  | € |  |

| Amounts falling due within one year |  |

| Trade debtors |  | 7,549,799 |  |  | 5,628,102 |  |

| Other debtors |  | 30,000 |  |  | 90,000 |  |

| Loans |  | 175,061 |  |  | 1,050,000 |  |

| Prepayments |  | - |  |  | 1,212,478 |  |

|  | 7,754,860 |  |  | 7,980,580 |  |

| Amounts falling due after more than one year: |  |

| Trade debtors |  | 14,337 |  |  | 14,337 |  |

| Amounts owed by associates |  | 1,110,495 |  |  | 1,413,458 |  |

|  | 1,124,832 |  |  | 1,427,795 |  |

| Aggregate amounts |  | 8,879,692 |  |  | 9,408,375 |  |

West Sport Alliance Limited Liability

Partnership (Registered number: SO300935)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

7. | CURRENT ASSET INVESTMENTS

| 31.5.25 |  | 31.5.24

| as restated |

€ | € |

| Unlisted investments | 585,605 |  | 585,605 |  |

8. | CASH AT BANK

|  | 31.5.25 |  |  | 31.5.24 |  |

| restated |  |

| € |  |  | € |  |

| Cash at bank |  | 6,630,388 |  |  | 3,072,625 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.5.25 |  | 31.5.24

| as restated |

€ | € |

| Trade creditors | 2,283,791 |  | 929,495 |  |

| Accrued income | 710,703 |  | 1,087,422 |  |

| Accrued expenses | 72,276 |  | 15,633 |  |

3,066,770 |  | 2,032,550 |  |

10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| 31.5.25 |  | 31.5.24

| as restated |

€ | € |

| Amounts owed to members in respect of profits | 16,772,190 |  | 12,920,040 |  |

| Falling due within one year | 16,772,190 |  | 12,920,040 |  |

11. | RELATED PARTY DISCLOSURES

| The designated member V Efimov also holds 40% shares in the associated company IM RICOSTAN SRL.

| A loan has been extended to balance IM RICOSTAN SRL. At the reporting date the balance outstanding was €1,100,495 (2024 : €1,413,458).

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is V Efimov.