Eriswell Capital Management LLP

	Page
Members' Report	1
Independent Auditor's Report	2—4
Profit and Loss Account	5
Statement of Comprehensive Income	6
Balance Sheet	7—8
Reconciliation of Members' Interests	9—10
Notes to the Financial Statements	10—12

Opinion

We have audited the financial statements of Eriswell Capital Management LLP for the year ended 31 March 2026 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

In our opinion the financial statements:

give a true and fair view of the state of the limited liability partnership's affairs as at 31 March 2026 and of its profit/(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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities in the circumstances set out in note 2.1 to the financial statements, 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 entity's ability to continue as a going concern for a period of at least 12 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 note that in prior year, the financial statements were not audited.

We have nothing to report in this regard.

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Independent Auditor's Report (continued)

to the Members of

Eriswell Capital Management LLP

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

•certain disclosures of directors’ remuneration specified by law are not made; or

•we have not received all the information and explanations we require for our audit; or

•the members were not entitled to prepare the financial statements in accordance with the small limited liability partnerships regime.

Responsibilities of Members

As explained more fully in the members’ responsibilities statement set out on page 2, 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 memebers 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 company’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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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:

• Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and noncompliance with laws and regulations.

• Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations.

• Enquire of management and those charged with governance around actual and potential litigation and claims.

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

• Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon.

• Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified.

• Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period.

• Review of after period end information to ensure expenditure has been accounted for in the correct period.

• Perform analytical review procedures to identify any irregularities and investigation thereon.

• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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Independent Auditor's Report (continued)

to the Members of

Eriswell Capital Management LLP

Use Of Our Report

This report is made solely to the limited liability partnership’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the limited liability partnership’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 limited liability partnership and the limited liability partnership’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Graham FCA (Senior Statutory Auditor)

for and on behalf of TWP Accounting LLP Chartered Accountants , Statutory Auditor

22/06/2026

TWP Accounting LLP Chartered Accountants

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

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Eriswell Capital Management LLP

Profit and Loss Account

For The Year Ended 31 March 2026

Profit and Loss Account

		2026	2025
	Notes	£	£
TURNOVER		91,465	75,450
Cost of sales		(15,512 )	(14,098 )

GROSS PROFIT		75,953	61,352

Administrative expenses		(35,052 )	(36,602 )

OPERATING PROFIT	3	40,901	24,750
Income from other current asset investments		3,467	-
Other interest receivable and similar income	7	193	623

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS		44,561	25,373

The notes on pages 10 to 12 form part of these financial statements.

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Eriswell Capital Management LLP

Statement of Comprehensive Income

For The Year Ended 31 March 2026

Statement of Comprehensive Income

	2026	2025
	£	£
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS	44,561	25,373
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	44,561	25,373

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Eriswell Capital Management LLP

Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: OC334533

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	8		62		83
Tangible Assets	9		6,467		7,978

			6,529		8,061
CURRENT ASSETS
Debtors	10	7,500		7,500
Investments	11	73,991		64,474
Cash at bank and in hand		18,761		17,139

		100,252		89,113
Creditors: Amounts Falling Due Within One Year	12	(8,574 )		(6,636 )

NET CURRENT ASSETS (LIABILITIES)			91,678		82,477

TOTAL ASSETS LESS CURRENT LIABILITIES			98,207		90,538

NET ASSETS ATTRIBUTABLE TO MEMBERS			98,207		90,538

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		(1,793)		(9,462)

			(1,793)		(9,462)

Equity
Members' other interests
Other reserves		100,000		100,000

			100,000		100,000

			98,207		90,538

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			(1,793)		(9,462)
Members' other interests			100,000		100,000

			98,207		90,538

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Eriswell Capital Management LLP

Balance Sheet (continued)

As At 31 March 2026

The financial statements have been prepared in accordance with the provision applicable to entities subject to the small LLP regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by

Ms Andrea Badelt

Designated Member

22/06/2026

The notes on pages 10 to 12 form part of these financial statements.

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Eriswell Capital Management LLP

Reconciliation of Members' Interests

For The Year Ended 31 March 2026

Reconciliation of Members' Interests

	EQUITY			DEBT
	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors
	Members'Capital classified as Equity	Other Reserves	Total Equity	Members'Capital classified as Debt	Total members' interest
	£	£	£	£	£
Amounts due to members	-	-	-	4,608	-

Balance at 1 April 2024	-	100,000	100,000	4,608	104,608
Profit/(loss) for the financial year available for discretionary division among members	-	25,373	25,373	-	25,373

Members' interests after profit/(loss) for the year	-	125,373	125,373	4,608	129,981
Repayment of Capital	-	-	-	(39,443)	(39,443)
Other Movements	-	(25,373)	(25,373)	25,373	-

Amounts due to members	-	-	-	(9,462)	-

As at 31 March 2025 and 1 April 2025	-	100,000	100,000	(9,462)	90,538


Profit/(loss) for the financial year available for discretionary division among members	-	44,561	44,561	-	44,561

Members' interests after profit/(loss) for the year	-	144,561	144,561	(9,462)	135,099
Repayment of Capital	-	-	-	(36,892)	(36,892)
Other Movements	-	(44,561)	(44,561)	44,561	-

Amounts due to members	-	-	-	(1,793)	-

As at 31 March 2026	-	100,000	100,000	(1,793)	98,207

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Eriswell Capital Management LLP

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

Eriswell Capital Management LLP is a limited liability partnership, incorporated in England & Wales, registered number

OC334533. The Registered Office is TaxAssist Accountants, 26-28 Molesey Road, Hersham, Surrey, KT12 4RQ

The LLP's principal activity continues to be that of investment services

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of financial services for which the members charge management fees that are collected on a monthly basis from the funds under management

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are the company website database and visual solution. It is amortised to the profit and loss accounts at 25% reducing balance.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Reducing Balance

2.5. Investments

Investments are included in the financial statements at cost price as at the reporting date. Investments relate exclusively to UK Government Gilts with a maturity of 3 Years or less.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Depreciation of tangible fixed assets	1,831	2,184
Amortisation of intangible fixed assets	21	28

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Eriswell Capital Management LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Auditor's Remuneration

Remuneration received by the LLP's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	6,924	6,600

5. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2025: 2)

6. Members' Remuneration

	2026		2025
Average number of members during the year	2		2

7. Interest Receivable and Similar Income

	2026	2025
	£	£
Bank interest receivable	72	456
Interest on short term deposits	121	167
Income From Investments	3,467	-

	3,660	623

8. Intangible Assets

	Other
	£
Cost
As at 1 April 2025	10,575

As at 31 March 2026	10,575

Amortisation
As at 1 April 2025	10,492
Provided during the period	21

As at 31 March 2026	10,513

Net Book Value
As at 31 March 2026	62

As at 1 April 2025	83

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Eriswell Capital Management LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

9. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2025	4,629	37,291	41,920
Additions	-	320	320

As at 31 March 2026	4,629	37,611	42,240

Depreciation
As at 1 April 2025	2,314	31,628	33,942
Provided during the period	771	1,060	1,831

As at 31 March 2026	3,085	32,688	35,773

Net Book Value
As at 31 March 2026	1,544	4,923	6,467

As at 1 April 2025	2,315	5,663	7,978

10. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	7,500	7,500

11. Current Asset Investments

	2026	2025
	£	£
Listed investments	73,991	64,474

12. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1,650	36
Accruals and deferred income	6,924	6,600

	8,574	6,636

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