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| Vantage Global Prime LLP
| Members' report and financial statements
| For the year ended 30 June 2025
| Registered number: OC376560
Vantage Global Prime LLP
Information
Designated Members | Mr D Shayer Ms S Li Mr M Mushtaq
LLP registered number | OC376560
Registered office | 7 Bell Yard London England WC2A 2JR
Independent auditor | Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL
Vantage Global Prime LLP
Contents
| Page
Members' report | 1 - 2
Independent auditor's report | 3 - 6
Statement of comprehensive income | 7
Statement of financial position | 8 - 9
Reconciliation of members' interests | 10
Statement of cash flows | 11
Notes to the financial statements | 12 - 22
Vantage Global Prime LLP
Members' report For the year ended 30 June 2025 The members present their annual report together with the financial statements of Vantage Global Prime LLP ('the LLP') for the year ended 30 June 2025. Principal activities The LLP was incorporated on 2 July 2012 and commenced trading on that date. The principal object of the limited liability partnership ('LLP') as a broker is to onboard retail and professional clients for the purposes of providing a platform for clients to buy and sell leveraged spot foreign exchange ("FX") and contract for differences ("CFD") products. 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: Mr D Shayer Ms S Li Mr M Mushtaq (appointed 2 July 2025) Members' capital and interests The members’ drawing policy permits drawings to be made on account of profit allocations, subject to the cash, working capital and regulatory capital requirements of the business. Drawings are discretionary and may be restricted to ensure that the LLP maintains sufficient capital to meet its regulatory obligations. A member’s capital contribution is linked to the financing requirements of the LLP. Capital is subscribed at “par” and does not appreciate in value. Incoming members introduce capital at par, and retiring members are repaid their capital at par only in the circumstances permitted by the LLP agreement, which include cessation of membership with replacement capital, regulatory approval where required, or the winding-up of the LLP. Where drawings exceed a member’s profit allocation and the LLP has no contractual right to require repayment, any resulting debit balance is treated as a further distribution, reducing that member’s equity interest. 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
Vantage Global Prime LLP
Members' report (continued) For the year ended 30 June 2025 Members' responsibilities statement (continued) 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; ∙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 auditor 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 auditor is 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 auditor is aware of that information. This report was approved by the members and signed on their behalf by:
................................................ Mr D Shayer Designated member
Date: 8 April 2026
Page 2
Independent auditor's report to the members of Vantage Global Prime LLP For the year ended 30 June 2025
Opinion
We have audited the financial statements of Vantage Global Prime LLP (the 'LLP') for the year ended 30 June 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Reconciliation of members' interests, the Statement of cash flows 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 30 June 2025 and of its profit 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 Auditor's 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.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's 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. Page 3
Independent auditor's report to the members of Vantage Global Prime LLP (continued) For the year ended 30 June 2025
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.
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 Auditor's 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: How the audit was considered capable of detecting irregularities including fraud Our approach to identify and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: ∙the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, including knowledge specific to auditing regulated investment brokers; ∙we made enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual, suspected and alleged fraud; ∙we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the LLP through discussions with members and other management at the planning stage, and from our knowledge and experience of regulated investment brokers; ∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to misstatement, including with respect to fraud and non-compliance with laws and regulations; and ∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the LLP including the Companies Act 2006 as applied to LLP's, The Financial Services and Markets Act 2000 and employment legislation. Page 4
Independent auditor's report to the members of Vantage Global Prime LLP (continued) For the year ended 30 June 2025 Auditors' responsibilities for the audit of the financial statements (continued) We assessed the extent of compliance with the laws and regulations identified above through: ∙making enquiries of management; ∙inspecting legal expenditure and correspondence throughout the year for any potential litigation or claims; and ∙considering the internal controls in place that are designed to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: ∙determined the susceptibility of the LLP to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process; ∙reviewed journal entries throughout the year to identify unusual transactions; ∙performed analytical procedures to identify any large, unusual or unexpected transactions and investigated any large variances from the prior period; ∙reviewed accounting estimated and evaluated where judgements or decisions made by management indicated bias on the part of the LLP's management; ∙performed a walkthrough of the trading platform and reconciled output data to the financial statements to ensure the completeness and occurrence of income; and ∙carried out substantive testing to check the occurrence and cut-off of expenditure. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included: ∙agreeing financial statement disclosures to underlying support documentation; ∙enquiring of management as to actual and potential litigation and claims; and ∙reviewing correspondence with the Financial Conduct Authority. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditor's report.
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 Auditor's 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. Page 5
Independent auditor's report to the members of Vantage Global Prime LLP (continued) For the year ended 30 June 2025 Jonathan West (Senior statutory auditor) for and on behalf of Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL 9 April 2026 Page 6
Vantage Global Prime LLP
Statement of comprehensive income For the year ended 30 June 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 5,201,268 | 1,905,972
Cost of sales |  | (106,777) | (133,686)
Gross profit |  | 5,094,491 | 1,772,286
Administrative expenses |  | (1,855,211) | (1,456,576)
Operating profit |  | 3,239,280 | 315,710
Profit for the year before members' remuneration and profit shares |  | 3,239,280 | 315,710
Profit for the year before members' remuneration and profit shares |  | 3,239,280 | 315,710
Members' remuneration charged as an expense |  | (251,434) | (239,111)
Profit for the financial year available for discretionary division among members |  | 2,987,846 | 76,599
Total comprehensive income for the year |  | 2,987,846 | 76,599
All amounts relate to continuing operations. There was no other comprehensive income for 2025 or 2024. The notes on pages 12 to 22 form part of these financial statements.
Page 7
Vantage Global Prime LLP - Registered number: OC376560
Statement of financial position As at 30 June 2025
|  | 2025 |  | 2024 (As restated)
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 9 |  | - |  | 5,229
Tangible assets | 10 |  | 28,295 |  | 6,124
|  |  | 28,295 |  | 11,353
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 11 | 2,698,530 |  | 1,071,289 |
Cash and cash equivalents | 12 | 1,833,764 |  | 418,899 |
|  | 4,532,294 |  | 1,490,188 |
Creditors: amounts Falling Due Within One Year | 13 | (108,112) |  | (36,910) |
Net current assets |  |  | 4,424,182 |  | 1,453,278
Total assets less current liabilities |  |  | 4,452,477 |  | 1,464,631
Net assets |  |  | 4,452,477 |  | 1,464,631
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 14 |  | (2,130,488) |  | (2,130,488)
|  |  | (2,130,488) |  | (2,130,488)
Members' other interests |  |  |  |  |
Members' capital classified as equity |  | 3,595,119 |  | 3,595,119 |
Other reserves classified as equity |  | 2,987,846 |  | - |
|  |  | 6,582,965 |  | 3,595,119
|  |  | 4,452,477 |  | 1,464,631
Total members' interests |  |  |  |  |
Loans and other debts due to members | 14 |  | (2,130,488) |  | (2,130,488)
Members' other interests |  |  | 6,582,965 |  | 3,595,119
|  |  | 4,452,477 |  | 1,464,631
Page 8
Vantage Global Prime LLP - Registered number: OC376560
Statement of financial position (continued) As at 30 June 2025 The financial statements were approved and authorised for issue by the members and were signed on their behalf on 8 April 2026.
................................................ Mr D Shayer | ................................................ Ms S Li
Designated member | Designated member
The notes on pages 12 to 22 form part of these financial statements. Page 9
Vantage Global Prime LLP
Reconciliation of members' interests For the year ended 30 June 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 | Total
| £ | £ | £ | £ | £ | £
Amounts due to members |  |  |  | (2,207,087) | (2,207,087) |
Balance at 1 July 2023 | 3,595,119 | - | 3,595,119 | (2,207,087) | (2,207,087) | 1,388,032
Members' remuneration charged as an expense (as restated) | - | - | - | 239,111 | 239,111 | 239,111
Profit for the year available for discretionary division among members | - | 76,599 | 76,599 | - | - | 76,599
Members' interests after profit for the year | 3,595,119 | 76,599 | 3,671,718 | (1,967,976) | (1,967,976) | 1,703,742
Other division of profits | - | (76,599) | (76,599) | 76,599 | 76,599 | -
Drawings on account and distribution of profit (as restated) | - | - | - | (239,111) | (239,111) | (239,111)
Amounts due to members |  |  |  | (2,130,488) | (2,130,488) |
Balance at 30 June 2024 | 3,595,119 | - | 3,595,119 | (2,130,488) | (2,130,488) | 1,464,631
Members' remuneration charged as an expense | - | - | - | 251,434 | 251,434 | 251,434
Profit for the year available for discretionary division among members | - | 2,987,846 | 2,987,846 | - | - | 2,987,846
Members' interests after profit for the year | 3,595,119 | 2,987,846 | 6,582,965 | (1,879,054) | (1,879,054) | 4,703,911
Drawings on account and distribution of profit | - | - | - | (251,434) | (251,434) | (251,434)
Amounts due to members |  |  |  | (2,130,488) | (2,130,488) |
Balance at 30 June 2025 | 3,595,119 | 2,987,846 | 6,582,965 | (2,130,488) | (2,130,488) | 4,452,477
The LLP may retain profits within members’ equity to meet regulatory capital and working-capital requirements. Amounts allocated to regulatory capital reserves are not repayable except in specific circumstances permitted by regulation or the LLP agreement. Distributions are made only where sufficient capital is maintained.
Page 10
Vantage Global Prime LLP
Statement of cash flows For the year ended 30 June 2025
|  |  | 2025 | 2024 (As restated)
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 2,987,846 | 76,599
Adjustments for: |  |
Members' remuneration charged as an expense | 251,434 | 239,111
Amortisation of intangible assets | 5,229 | 5,228
Depreciation of tangible assets | 5,558 | 3,751
(Increase) in debtors | (127,241) | (910,937)
Increase/(decrease) in creditors | 71,202 | (14,772)
Net cash generated from operating activities before transactions with members | 3,194,028 | (601,020)
Members' remuneration charged as an expense | (251,434) | (239,111)
Net cash generated from operating activities | 2,942,594 | (840,131)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (27,729) | -
Loan provided | (1,500,000) | -
Net cash from investing activities | (1,527,729) | -
Net increase/(decrease) in cash and cash equivalents | 1,414,865 | (840,131)
Cash and cash equivalents at beginning of year | 418,899 | 1,259,030
Cash and cash equivalents at the end of year | 1,833,764 | 418,899
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 1,833,764 | 418,899
| 1,833,764 | 418,899
The notes on pages 12 to 22 form part of these financial statements.
Page 11
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
1. | General information
Vantage Global Prime LLP is a limited liability partnership and is incorporated in England and Wales. Its registration number is OC376560. The address of the registered office is 7 Bell Yard, London, England, WC2A 2JR, and the principal place of business is 3rd Floor, 37 Jewry Street, London, England, EC3N 2ER. 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 Republic of Ireland' ('FRS 102') 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 | Revenue
Trading revenue represents gains and losses arising on client trading activity, in CFD contracts and in the transactions undertaken to hedge the risk associated with client trading activity in accordance with its matched principal broker's status. Consultancy fees are recognised on the accruals basis when the work is performed. 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 12
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.3 | 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 Statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.
| 2.4 | Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period. An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making. The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable. Profit allocations are made in accordance with the LLP agreement and are discretionary. The LLP retains an unconditional right to avoid distributing cash or other assets in respect of profit allocations. Accordingly, profit allocations are treated as appropriations of profit within equity and are not recognised as liabilities unless the LLP becomes unconditionally obliged to settle them. The LLP classifies distributions of profits as financing cash flows in the Statement of cash flows given that these transactions represent an appropriation of equity. Payments of salaries to designated members under employment contracts are classified as operating activities.
| 2.5 | Members' participation rights
Members’ rights and obligations are governed by the members' agreement. These include rights to profit allocations, capital, and other amounts. Participation rights are classified as either liabilities or equity based on whether the LLP has an unconditional right to avoid settlement. Where drawings exceed allocated profits and the LLP has no right to demand repayment, the resulting debit balance is treated as a further distribution, reducing that member’s equity interest. Such balances are not recognised as assets, as they do not meet the definition of a recoverable amount under FRS 102. Page 13
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.6 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Licences | - | 10 | years on the straight line basis
| 2.7 | 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. 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:
|  |  |  | Office equipment | - | 25% |
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.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | Financial instruments
Financial instruments are recognised in the LLP's Statement of financial position when the LLP becomes party Page 14
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.11 | Financial instruments (continued)
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. 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 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 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. Page 15
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
3. | Judgements 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Investment brokerage services | 4,000,428 | 1,605,972
| Consultancy services | 1,200,840 | 300,000
|  | 5,201,268 | 1,905,972
| All turnover arose within the United Kingdom.
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation | 10,786 | 3,751
| Amortisation | 5,229 | 5,228
| Operating lease payments | 159,231 | -
| Exchange differences | 209,655 | 184,808
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Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
6. | Auditor's remuneration
| During the year, the LLP obtained the following services from the LLP's auditor and its associates:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the LLP's auditor for the audit of the LLP's financial statements | 18,000 | 6,540
| Fees payable to the LLP's auditor in respect of: |  |
| Audit-related assurance services | 16,000 | -
| All non-audit services not included above | 2,500 | -
| All auditor's remuneration from the year ended 30 June 2025 relates to amounts paid to the LLP's previous auditor.
7. | Staff costs and average number of employees
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 551,336 | 518,352
| Social security costs | 101,495 | 91,627
| Cost of defined contribution scheme | 11,163 | 14,491
|  | 663,994 | 624,470
| The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Average number of employees | 11 | 11
Page 17
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
8. | Information in relation to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | Number | Number
| The average number of members during the year was | 3 | 3
| The member with the largest entitlement to profit for the year is the corporate member, which received a residual profit allocation of £2,987,846. Amounts attributable to members are determined in accordance with the members' agreement. Salaried members receive fixed remuneration, all remaining profit is allocated to members based on discretionary profit-sharing arrangements. Undivided profits and allocated but unpaid profit shares remain within equity until paid because the LLP retains discretion to avoid distribution.
9. | Intangible assets
|  | Licences
|  | £
| Cost |
| At 1 July 2024 | 52,280
| At 30 June 2025 | 52,280
| Amortisation |
| At 1 July 2024 | 47,051
| Charge for the year | 5,229
| At 30 June 2025 | 52,280
| Net book value |
| At 30 June 2025 | -
| At 30 June 2024 | 5,229
Page 18
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
10. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 July 2024 | 15,872
| Additions | 27,729
| At 30 June 2025 | 43,601
| Depreciation |
| At 1 July 2024 | 9,748
| Charge for the year | 5,558
| At 30 June 2025 | 15,306
| Net book value |
| At 30 June 2025 | 28,295
| At 30 June 2024 | 6,124
11. | Debtors
|  |  |  |  | 2025 | 2024 (as restated)
|  |  |  |  | £ | £
| Trade debtors | 203,513 | 542,461
| Amounts owed by group undertakings | - | 2,400
| Other debtors | 2,304,941 | 465,213
| Prepayments and accrued income | 190,076 | 61,215
|  | 2,698,530 | 1,071,289
Page 19
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
12. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024 (as restated)
|  |  |  |  | £ | £
| Bank current accounts | 1,603,685 | 418,899
| Restricted cash | 230,079 | -
|  | 1,833,764 | 418,899
| Included within the total cash and cash equivalents balance is £230,079 (2024: £0) of the LLP’s own funds, designated as a prudential cash buffer. These funds are held in a segregated client money bank account in accordance with the FCA’s Client Assets Sourcebook (CASS 7). Cash held in segregated client money accounts is treated as ‘client money’ under FCA CASS regulations and is subject to withdrawal restrictions. It is not available to meet the LLP’s general operational expenses or obligations to its general creditors until the LLP has confirmed, through the required regulatory calculations, that the balances are no longer required to protect client money or custody assets. In the event of an administration, and assuming no specific regulatory restriction applies, the amount segregated would be due to the LLP and is therefore recognised as an asset on the Statement of Financial Position.
13. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 73,360 | 28,758
| Other creditors | 2,993 | 1,852
| Accruals and deferred income | 31,759 | 6,300
|  | 108,112 | 36,910
14. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | (2,130,488) | (2,130,488)
|  | (2,130,488) | (2,130,488)
| All amounts are due within one year.
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 20
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
15. | Prior year adjustments
Liquidity provider balances Amounts owed by a liquidity provider of £445,475 at 30 June 2024 were incorrectly classified as cash and cash equivalents. These amounts represented funds due from a third party and should have been presented as other debtors. The comparative figures have been restated to correct this misclassification. This adjustment does not affect net assets or profit for the prior year. Members remuneration charged as an expense The financial statements for the year ended 30 June 2024 did not disclose members’ remuneration charged as an expense relating to salary remuneration received by the designated members of £239,111. These amounts should have been disclosed in the Reconciliation of Members’ Interests note. The comparative figures have been restated to correct this omission. This adjustment does not affect net assets or profit for the prior year.
16. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £11,163 (2024: £14,491). Contributions totalling £2,993 (2024: £1,852) were payable to the fund at the reporting date and are included in creditors.
17. | Commitments under operating leases
| At 30 June 2025 the LLP had future minimum lease payments due under operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 144,365 | -
| Later than 1 year and not later than 5 years | 270,932 | -
|  | 415,297 | -
Page 21
Vantage Global Prime LLP
Notes to the financial statements For the year ended 30 June 2025
18. | Related party transactions
| Remuneration of key management personne l The total compensation paid to key management personnel in the year was £220,000 (2024: £210,000) in respect of salaries and £2,642 (2024: £2,642) in respect of pension contributions to defined Transactions with related parties During the year the limited liability partnership entered into the following transactions with related parties: During the year, the LLP received £3,053,719 (2024: £1,218,614) in respect of commissions earned from Vantage International Group Limited, a company under common control. At the year end, £203,513 (2024: £242,461) was owed by Vantage International Group Limited.
19. | Controlling party
The LLP's immediate parent company is Ruby Victory Holdings Limited, a company incorporated in the BVI. The ultimate controlling party is Jie Tang.
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