ACCOUNTS - Final Accounts preparation

Company Registration Number: 16037595

ACUMEN VENTURES DEBT PARTNERS LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025


ACUMEN VENTURES DEBT PARTNERS LIMITED REGISTERED NUMBER:16037595

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025
Note		£

Fixed assets
Investments	6		222,857
			222,857
Current assets
Debtors: amounts falling due after more than one year	7	53,007
Debtors: amounts falling due within one year	7	697,270
Cash at bank and in hand	8	898
		751,175
Creditors: amounts falling due within one year	9	(1,178,935)
Net current (liabilities)			(427,760)
Total assets less current liabilities			(204,903)

Net (liabilities)			(204,903)

Capital and reserves
Called up share capital	10	1
Profit and loss account		(204,904)
Total equity		(204,903)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Jiwoo Choi

Director

Date: 20 July 2026

The notes on pages 3 to 8 form part of these financial statements.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£

Loss for the period	-	(204,904)	(204,904)
Shares issued during the period	1	-	1
At 31 December 2025	1	(204,904)	(204,903)

The notes on pages 3 to 8 form part of these financial statements.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

The Company is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of the registered office is given in the company information page of these financial statements.

These financial statements represent a period from incorporation on 23 October 2024. As such, there is no comparative information.

The principal activity of the Company is the provision of investment advisory services.

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. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

2.3

Small company disclosure exemptions

The Company has taken advantage of the following exemptions on the basis that it is a small company:

- Financial Reporting Standard 102 Section 1A.7 exemption from the requirement to produce a Statement of Cash Flows;
- Companies Act Strategic Report exemption for small companies under section 414B.

2.4

Going concern

The director has assessed the Company's ability to continue as a going concern as at the date of issue of these financial statements and for the next 12 months following the date of approval of the financial statements. This assessment considers all available information about the future, considering the possible outcomes of events and changes in conditions and the Company's significant areas of financial risk including liquidity. Although the Company is in a net liability position of £204,903 as at 31 December 2025, the director has assessed the cash flows and availability of financial support from the ultimate parent company, Acumen Fund, Inc. Following review, the director is satisfied that there are no material uncertainties related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.6

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company 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.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

At each reporting period end date, the Company reviews the carrying amounts of the investment in subsidiary to determine whether there is any indication of an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Recoverable amount is the higher of fair value less costs to sell and value in use.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.9

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Creditors

Short-term creditors are measured at the transaction price. Amounts owed to group undertakings and other short-term creditors are measured at the transaction price. Where applicable, financial liabilities are subsequently measured at amortised cost using the effective interest method.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The Company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the Company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no key estimates or sources of estimation uncertainty.

4.	Turnover
	An analysis of turnover by class of business is as follows:
		14 month period from 23 October 2024 to 31 December
		2025
		£

	Investment advisory income	697,270
	Grant management fee income	53,007
		750,277

Employees

The Company has no employees. The average monthly number of employees, including directors, during the period was 0.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

6.	Fixed asset investments

		Investments in subsidiary company
		£
	Cost or valuation
	Additions	222,857
	At 31 December 2025	222,857

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

Hardest to Reach Debt Limited

ALN House, Eldama Ravine Close, Off Eldama Ravine, P.O. Box 764 - 00606
NAIROBI

Ordinary shares
Preference shares

100%

	The principal activity of the subsidiary is the provision of investment advisory services. The aggregate of the share capital and reserves as at 31 December 2025 and the profit or loss for the 9 month period ended on that date for the subsidiary undertaking were as follows:
	Name	Aggregate of share capital and reserves £	Profit/(Loss) £

Hardest to Reach Debt Limited

190,809

(30,257)

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

7.	Debtors
		2025
		£

	Due after more than one year
	Accrued income	53,007
		53,007

					2025
					£

	Due within one year
	Accrued income	697,270
		697,270

8.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	898
		898

9.	Creditors: Amounts falling due within one year
		2025
		£

	Amounts owed to group undertakings	1,133,594
	Accruals and deferred income	45,341
		1,178,935

The amounts owed to group undertakings is interest free and repayable on demand.

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ACUMEN VENTURES DEBT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

10.	Share capital
		2025
		£

	Allotted, called up and unpaid
	1 Ordinary share of USD 1	1
		1

The share capital above was issued upon incorporation of the Company.

The ordinary share confers equal rights to dividends and capital distributions and carries voting rights of one vote per share on a poll. The share is not redeemable.

11.

Related party transactions

The Company's turnover is primarily derived from Acumen H2R Expansion Investments Limited, the General Partner of Acumen H2R Expansion Fund LP. Acumen H2R Expansion Investments Limited is a related party by virtue of common ownership. Income is earned for the provision of investment advisory services and grant management services. The total income recognised during the period is disclosed in note 4. The full amount remained receivable at the reporting date, with the related ageing analysis set out in note 7.

During the period, the Company was recharged costs incurred on behalf of the Company by the ultimate parent company, Acumen Fund, Inc, which totalled £909,840. Acumen Fund, Inc also provided an interest free loan to the Company for £223,754.

The total amount outstanding at the balance sheet date was £1,133,594.

12.	Post balance sheet events

There have been no significant events affecting the Company since the period end.

13.	Controlling party

The immediate parent undertaking is Acumen Capital Partners, LLC, a company incorporated in the United States of America, which owns 100% of the Company's share capital.

The ultimate parent company and ultimate controlling party is Acumen Fund, Inc, a company incorporated in the United States of America.

The smallest group to consolidate these financial statements is Acumen Capital Partners, LLC, a company incorporated in the United States of America with a registered office of 850 New Burton Road Suite 201, Dover, DE 19904, United States of America.

14.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2025 was unqualified.

The audit report was signed on 20 July 2026 by Christine Cochrane (Senior statutory auditor) on behalf of KPMG Audit Limited.

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