REGISTERED NUMBER: OC445765 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Merivel Capital Partners LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Merivel Limited

Rally Capital Limited

REGISTERED OFFICE:

Lake House

Market Hill

Royston

SG8 9JN

BUSINESS ADDRESS:

10 North End

Bassingbourn

Royston

Hertfordshire

SG8 5NX

REGISTERED NUMBER:

OC445765 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

The members present their report with the financial statements of the LLP for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of intermediary services to corporate investors.

DESIGNATED MEMBERS

The designated members during the year under review were:

Merivel Limited

Rally Capital Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £888,632 (2025 - £357,834 profit).

MEMBERS' INTERESTS

All members are equity members, share in the profits and subscribe the entire capital. Payments are made subject to the cash requirements of the business.

Details of changes in members' capital in the year ended 31 March 2026 are set out in the financial statements.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships 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 legislation applicable to limited liability partnerships 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. 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;

-	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 enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of 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.

ON BEHALF OF THE MEMBERS:

Merivel Limited - Designated member

9 July 2026

TURNOVER

888,632

357,834

Cost of sales

255,350

27,914

GROSS PROFIT

633,282

329,920

Administrative expenses

88,413

82,637

544,869

247,283

Other operating income

343,763

110,551

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

888,632

357,834

FIXED ASSETS

Tangible assets

5

82

412

CURRENT ASSETS

Debtors

6

161,533

39,439

Cash at bank

238,181

143,656

399,714

183,095

CREDITORS

Amounts falling due within one year

7

74,283

3,007

NET CURRENT ASSETS

325,431

180,088

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

325,513

180,500

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

305,513

160,500

MEMBERS' OTHER INTERESTS

Merivel Limited capital

account

10,000

10,000

Rally Capital capital account

10,000

10,000

325,513

180,500

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

305,513

160,500

Members' other interests

20,000

20,000

Amounts due from members

6

(39,510

)

(32,975

)

286,003

147,525

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

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

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 9 July 2026 and were signed by:

Merivel Limited - Designated member

Rally Capital Limited - Designated member

1.	STATUTORY INFORMATION

Merivel Capital Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

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 statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign currencies

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

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2025 - 1 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.26

31.3.25

£

£

Depreciation - owned assets

330

329

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

and 31 March 2026

989

DEPRECIATION

At 1 April 2025

577

Charge for year

330

At 31 March 2026

907

NET BOOK VALUE

At 31 March 2026

82

At 31 March 2025

412

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

77,000

-

Amounts due from members

39,510

32,975

Other debtors

1,193

4,516

Social security and other

taxes

279

1,412

Prepayments and accrued income

43,551

536

161,533

39,439

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

2,489

157

Accrued expenses

71,794

2,850

74,283

3,007

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.26

31.3.25

£

£

Amounts owed to members in respect of profits

305,513

160,500

Falling due within one year

305,513

160,500

Loans and other debts due to members rank below all other creditors.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.