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Registered number: OC381018 80PLUS PARTNERS LLP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
80PLUS PARTNERS LLP INFORMATION
Designated Members | J T Sherwin
| 80Plus Services Ltd
LLP registered number | OC381018
Registered office | The Chase Winsley Bradford-On-Avon BA15 2LX
Independent auditors | Adler Shine LLP Chartered Accountants Aston House Cornwall Avenue London N3 1LF
Bankers | Metro Bank London WC1B 5HA
80PLUS PARTNERS LLP CONTENTS
| Page
Members' report | 1 - 2
Independent auditors' report | 3 - 6
Statement of comprehensive income | 7 - 8
Balance sheet | 8 - 9
Reconciliation of members' interests | 9
Statement of cash flows | 10
Notes to the financial statements | 11 - 19
80PLUS PARTNERS LLP MEMBERS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The members present their annual report together with the audited financial statements of 80Plus Partners LLP (the "LLP") for the ended 31 December 2025. Principal activities The principal activity of the LLP is that of providing discretionary investment management services. Fair review of the business The LLP incurred a loss during the year as it continued to develop its investment and advisory activities. The members consider this position to be consistent with the current stage of the business and the level of activity undertaken during the period. The members remain focused on developing the LLP’s investment and advisory services and believe that the current strategy provides a suitable platform for future growth. Principal risks and uncertainties The LLP is authorised and regulated by the Financial Conduct Authority and provides investment management services to a non-UK domiciled fund. As such, the LLP is exposed to a range of principal risks and uncertainties associated with operating in the financial services sector. These include regulatory and compliance risk arising from changes in applicable laws and regulations in the United Kingdom and the jurisdiction in which the fund is domiciled, operational risks related to reliance on internal systems and third-party service providers, and business risk linked to fluctuations in assets under management and fee income. The LLP is also indirectly exposed to market risk, as adverse market conditions may affect the performance of the fund and lead to reduced investor demand or redemptions. The Members monitor these risks on an ongoing basis and maintain appropriate compliance, risk management and operational controls to mitigate potential impacts on the LLP’s activities and financial position. Plans for Future The LLP intends to raise funds and grow the business, both utilising existing relationships with the investment community and by seeking new suitable investors. The cost base of the LLP will be kept at a minimum allowing it to generate a profit over the next twelve months. Key performance indicators The members monitor the progress of the LLP on a monthly basis with reference to the LLP's KPI of maintaining regulatory capital to meet the FCA requirement. For the year under review this requirement was £75,000, compared to own funds of £128,475. Designated Members J T Sherwin and 80Plus Services Ltd were designated members of the LLP throughout the period. Members' responsibilities statement 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 (United Kingdom Accounting Standards and applicable law). 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 LLP and of the profit or loss of the LLP for that period. Page 1
80PLUS PARTNERS LLP MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 In preparing these financial statements, the members are required to: ∙select suitable accounting policies and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to 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 the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information to auditors Each of the persons who are members at the time when this members' report is approved has confirmed that: ∙so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and ∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information. Auditors The auditor, Adler Shine LLP, will be proposed for reappointment in accordance with section 487 of the Companies Act 2006. Going concern At the time of approving the financial statements, the directors have a reasonable expectation that the LLP has adequate resources to continue in operational existence for at least 12 months from the date of signing. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements This report was approved by the members and signed on their behalf by:
J T Sherwin Designated member
Date: 16 March 2026
Page 2
80PLUS PARTNERS LLP INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 80PLUS PARTNERS LLP
Opinion
We have audited the financial statements of 80Plus Partners LLP (the 'LLP') for the year ended 31 December 2025, which comprise the statement of comprehensive income, the balance sheet, the statement of cash flows, the reconciliation of members' interests and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the LLP's affairs as at 31 December 2025 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
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 LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report. Page 3
80PLUS PARTNERS LLP INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 80PLUS PARTNERS LLP (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The members are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, as applied to limited liability partnerships, requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of members
As explained more fully in the members' responsibilities statement set out on page 1, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so. Page 4
80PLUS PARTNERS LLP INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 80PLUS PARTNERS LLP (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have: • considered the nature of the industry and sectors, control environment and business performance; • made enquiries of management about their own identification and assessment of the risk of irregularities; • performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias; • undertaken appropriate sample based testing of bank transactions; • identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances of non-compliance. The key laws and regulations we considered in this context included UK Companies Act, data protection, anti-bribery, employment law, health and safety and Money Laundering Act and FCA Regulations. • discussed matters among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report. Page 5
80PLUS PARTNERS LLP INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF 80PLUS PARTNERS LLP (CONTINUED)
Use of our report
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed. Engin Zekia FCA (senior statutory auditor) for and on behalf of Adler Shine LLP Chartered Accountants Statutory Auditor Aston House Cornwall Avenue London N3 1LF 16 March 2026 Page 6
80PLUS PARTNERS LLP STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 58,948 | 58,116
Gross profit |  | 58,948 | 58,116
Administrative expenses |  | (140,766) | (148,406)
Operating loss |  | (81,818) | (90,290)
Loss for the year before members' remuneration and profit shares available for discretionary division among members |  | (81,818) | (90,290)
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2025(2024:£NIL).
The notes on pages 11 to 19 form part of these financial statements.
Page 7
80PLUS PARTNERS LLP BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 7 |  | 1,306 |  | 2,865
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 8 | 6,215 |  | 5,778 |
Cash at bank and in hand | 9 | 146,562 |  | 129,101 |
|  | 152,777 |  | 134,879 |
Creditors: amounts falling due within one year | 10 | (25,608) |  | (27,451) |
Net current assets |  |  | 127,169 |  | 107,428
Total assets less current liabilities |  |  | 128,475 |  | 110,293
Net assets |  |  | 128,475 |  | 110,293
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 11 |  | (21,025) |  | (39,207)
Members' other interests |  |  |  |  |
Members' capital classified as equity |  |  | 149,500 |  | 149,500
|  |  | 128,475 |  | 110,293
Total members' interests |  |  |  |  |
Loans and other debts due from members | 11 |  | (21,025) |  | (39,207)
Members' other interests |  |  | 149,500 |  | 149,500
|  |  | 128,475 |  | 110,293
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
J T Sherwin
Designated member
Date: 16 March 2026
The notes on pages 11 to 19 form part of these financial statements. Page 8
80PLUS PARTNERS LLP REGISTERED NUMBER: OC381018 RECONCILIATION OF MEMBERS' INTERESTS FOR THE YEAR ENDED 31 DECEMBER 2025
| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Other reserves | Total | Other amounts | Total
| £ | £ | £ | £ | £
Amounts due to members |  |  |  | (48,917) |
Balance at 1 January 2024 | 149,500 | - | 149,500 | (48,917) | 100,583
Loss for the year available for discretionary division among members | - | (90,290) | (90,290) | - | (90,290)
Members' interests after profit for the year | 149,500 | (90,290) | 59,210 | (48,917) | 10,293
Allocation of loss for the financial year | - | 90,290 | 90,290 | (90,290) | -
Amounts introduced by members | - | - | - | 100,000 | 100,000
Amounts due to members |  |  |  | (39,207) |
Balance at 31 December 2024 | 149,500 | - | 149,500 | (39,207) | 110,293
Loss for the year available for discretionary division among members | - | (81,818) | (81,818) | - | (81,818)
Members' interests after profit for the year | 149,500 | (81,818) | 67,682 | (39,207) | 28,475
Allocation of loss for the financial year | - | 81,818 | 81,818 | (81,818) | -
Amounts introduced by members | - | - | - | 100,000 | 100,000
Amounts due to members |  |  |  | (21,025) |
Balance at 31 December 2025 | 149,500 | - | 149,500 | (21,025) | 128,475
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
Page 9
80PLUS PARTNERS LLP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (81,818) | (90,290)
Adjustments for: |  |
Depreciation of tangible assets | 1,559 | 1,030
(Increase)/decrease in debtors | (437) | 3,239
(Decrease) in creditors | (1,843) | (19,199)
Net cash generated from operating activities before transactions with members | (82,539) | (105,220)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | - | (1,175)
Net cash from investing activities | - | (1,175)
Cash flows from financing activities |  |
Amounts introduced by members | 100,000 | 100,000
Net cash used in financing activities | 100,000 | 100,000
Net increase/(decrease) in cash and cash equivalents | 17,461 | (6,395)
Cash and cash equivalents at beginning of year | 129,101 | 135,496
Cash and cash equivalents at the end of year | 146,562 | 129,101
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 146,562 | 129,101
| 146,562 | 129,101
The notes on pages 11 to 19 form part of these financial statements.
Page 10
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
80Plus Partners LLP is a limited liability partnership incorporated in England and Wales. The registered office is The Chase, Winsley, Baradford-on-Avob, Wiltshire, BA15 2LX. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships". The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | 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. The members have received written assurances from one of the members that they will provide additional financial support to the partnership if required so as not to jeopardise the going concern status of the partnership nor prejudice the interests of creditors and to ensure the FCA's minimum capital required is met at all times.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the LLP will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 11
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Pensions
Defined contribution pension plan The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.
| 2.5 | Members' participating interests
Members' participation rigjhts are the rights of a member against the LLP that arise under the members' 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 LLPs perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or othwerwise 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 classed as equity. All amounts due to the members that are classed 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 tha are classified as equity are shown within 'Members' other interest'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests. The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the statement of comprehensive income. In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 12
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures, fittings and equipment | - | 33% | Straight-line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the LLP's cash management.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 13
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the LLP's balance sheet when the LLP 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic 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 LLP after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted Page 14
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the limited liability partnership's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The members consider that there have been no significant judgements or estimations during the year. Page 15
80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Management fees | 58,948 | 58,116
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cayman Islands | 58,948 | 58,116
5. | Auditors' remuneration
| During the year, the LLP obtained the following services from the LLP's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the LLP's auditors for the audit of the LLP's financial statements | 10,325 | 10,000
| Fees payable to the LLP's auditors in respect of: |  |
| Taxation compliance services | 1,300 | 1,250
| All non-audit services not included above | 1,625 | 1,550
6. | Employees
| Staff costs were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 43,560 | 53,699
| Cost of defined contribution scheme | 11,004 | 4,803
|  | 54,564 | 58,502
| The average monthly number of persons employed during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 1 | 1
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80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 January 2025 | 4,690
| At 31 December 2025 | 4,690
| Depreciation |
| At 1 January 2025 | 1,825
| Charge for the year on owned assets | 1,559
| At 31 December 2025 | 3,384
| Net book value |
| At 31 December 2025 | 1,306
| At 31 December 2024 | 2,865
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80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Prepayments and accrued income | 6,215 | 5,778
9. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 146,562 | 129,101
10. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 1,002 | 9,975
| Other taxation and social security | 1,866 | 2,116
| Accruals and deferred income | 22,740 | 15,360
|  | 25,608 | 27,451
11. | Loans and other debts due from members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due from members | 21,025 | 39,207
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80PLUS PARTNERS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 12. | Analysis of net debt
|  |  | At 1 January 2025 | Arising from cash flows | Other non-cash changes | At 31 December 2025
|  |  | £ | £ | £ | £
| Cash at bank and in hand | 129,101 | 17,461 | - | 146,562
| Net debt (before members' debt) | 129,101 | 17,461 | - | 146,562
| Loans and other debts due to members |  |  |  |
| Other amounts due from members | 39,207 | - | (18,182) | 21,025
| Net debt | 168,308 | 17,461 | (18,182) | 167,587
13. | Pension commitments
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £11,004 (2024 - £4,803).
14. | Ultimate controlling party
J T Sherwin is the ultimate controlling party by virtue of his ability to cast the majority of votes at a meeting of the members.
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