REGISTERED NUMBER: OC423850 (England and Wales)

Report of the Members and

Financial Statements

for the Year Ended 31 December 2025

for

Principa Capital LLP

Page

General Information

1

Report of the Members

2

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Reconciliation of Members' Interests

9

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

14

DESIGNATED MEMBERS:

A M El-Ansary

Principa Capital Partners Limited

A Zapf

REGISTERED OFFICE:

Rex House 4-12 Regent Street

Office 603

4th Floor

London

SW1Y 4PE

REGISTERED NUMBER:

OC423850 (England and Wales)

INDEPENDENT AUDITORS:

Anstey Bond LLP

Statutory Auditors &

Chartered Accountants

1-2 Charterhouse Mews

London

EC1M 6BB

The members present their report with the financial statements of the LLP for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of investment management services.

DESIGNATED MEMBERS

The designated members during the year under review were:

A M El-Ansary

Principa Capital Partners Limited

A Zapf

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £62,847 (2024 - £77,122 loss).

MEMBERS' INTERESTS

Each member's subscription to the capital of the Partnership is determined as per the LLP agreement dated 24th September 2018.

Details of changes in members' capital in the year ended 31 December 2025 are set out in the financial statements below.

Members are remunerated from the profits of the Partnership and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

GOING CONCERN

The Members have assessed the ability of the Partnership to continue as a going concern for the 12 months from the date of approval of these financial statements.

The Members consider that the Partnership can maintain sufficient income generating assets under

management to provide the Partnership with sufficient revenue and liquid resources so that the Partnership can cover its' costs, pay it's liabilities and meet it's regulatory capital requirement for the next 12 months from the date of approval of these financial statements.

The Members of the Partnership remain committed in supporting the business as needed. Therefore the Members have concluded that there are no material uncertainties that may cast significant doubt about the Partnership's ability to continue as a going concern for the next 12 months from the date of approval of these financial statements. Accordingly, the financial statements are prepared on the going concern basis.

The Partnership is required by its' regulator, the Financial Conduct Authority, to make disclosures in relation to its' risk management, regulatory capital and remuneration policy in accordance of the Capital Requirements Directive. This disclosure is available on: https://principa-capital.com/

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

AUDITORS

The auditors, Anstey Bond LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:

A M El-Ansary - Designated member

27 April 2026

Opinion

We have audited the financial statements of Principa Capital LLP (the 'LLP') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 LLPs 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 UK, including the FRC'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 members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 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 where the Companies Act 2006 as applied to LLPs 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 Statement of Members' Responsibilities set out on page three, 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 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 a Report of the Auditors 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.

We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above, and the further removed non - compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relation to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to 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 Report of the Auditors.

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 to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application 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 a Report of the Auditors 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.

Michael Whyke FCA CF (Senior Statutory Auditor)

for and on behalf of Anstey Bond LLP

Statutory Auditors &

Chartered Accountants

1-2 Charterhouse Mews

London

EC1M 6BB

27 April 2026

TURNOVER

171,813

138,574

Administrative expenses

(236,202

)

(217,503

)

OPERATING LOSS

4

(64,389

)

(78,929

)

Interest receivable and similar income

1,542

1,807

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

(62,847

)

(77,122

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(62,847

)

(77,122

)

FIXED ASSETS

Tangible assets

6

1,002

2,338

CURRENT ASSETS

Debtors

7

1,063,766

910,630

Cash and cash equivalents

160,699

134,511

1,224,465

1,045,141

CREDITORS

Amounts falling due within one year

8

(91,455

)

(77,753

)

NET CURRENT ASSETS

1,133,010

967,388

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,134,012

969,726

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

1,196,859

1,046,849

Other reserves classified as

equity

(62,847

)

(77,123

)

1,134,012

969,726

TOTAL MEMBERS' INTERESTS

Members' other interests

1,134,012

969,726

Amounts due from members

7

(846,263

)

(769,974

)

287,749

199,752

The financial statements were approved by the members of the LLP and authorised for issue on 27 April 2026 and were signed by:

A M El-Ansary - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 January 2025

1,046,849

(77,123

)

969,726

Loss for the financial year available for discretionary division among members

-

(62,847

)

(62,847

)

Members' interests after loss for the year

1,046,849

(139,970

)

906,879

Share of losses

-

77,123

77,123

Introduced by members

150,010

-

150,010

Balance at 31 December 2025

1,196,859

(62,847

)

1,134,012

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

-

Amount due from members

(769,974

)

Balance at 1 January 2025

(769,974

)

199,752

Loss for the financial year available for discretionary division among members

-

(62,847

)

Members' interests after loss for the year

(769,974

)

136,905

Share of losses

-

77,123

Introduced by members

(76,289

)

73,721

Amount due to members

-

Amount due from members

(846,263

)

Balance at 31 December 2025

(846,263

)

287,749

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 January 2024

1,052,055

(120,888

)

931,167

Loss for the financial year available for discretionary division among members

-

(77,122

)

(77,122

)

Members' interests after loss for the year

1,052,055

(198,010

)

854,045

Other divisions of profit

-

(1

)

(1

)

Share of losses

-

120,888

120,888

Introduced by members

(5,206

)

-

(5,206

)

Balance at 31 December 2024

1,046,849

(77,123

)

969,726

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

-

Amount due from members

(740,181

)

Balance at 1 January 2024

(740,181

)

190,986

Loss for the financial year available for discretionary division among members

-

(77,122

)

Members' interests after loss for the year

(740,181

)

113,864

Other divisions of profit

1

-

Share of losses

-

120,888

Introduced by members

(29,794

)

(35,000

)

Amount due to members

-

Amount due from members

(769,974

)

Balance at 31 December 2024

(769,974

)

199,752

Cash flows from operating activities

Cash generated from operations

2

(126,199

)

(94,599

)

Net cash from operating activities

(126,199

)

(94,599

)

Cash flows from investing activities

Interest received

1,542

1,807

Net cash from investing activities

1,542

1,807

Cash flows from financing activities

Transactions with members and former

members

Losses allocated

77,124

-

Contributions by members

73,721

85,888

Net cash from financing activities

150,845

85,888

Increase/(decrease) in cash and cash equivalents

26,188

(6,904

)

Cash and cash equivalents at beginning of year

3

134,511

141,415

Cash and cash equivalents at end of year

3

160,699

134,511

1.	CLASSIFICATION OF SHARE OF PROFITS IN THE CASH FLOW STATEMENT

Discretionary amounts due to members in respect of their participation of rights in the profits of the LLP for the financial year are classed as equity until allocation is approved by the members. The allocation to the members of residual profits for a financial year occurs at the Balance Sheet date. A member's share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profit and losses are included within 'Other reserves'.

Drawings are included as a reduction in the balance due to members.

2.	RECONCILIATION OF LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Loss for the financial year before members' remuneration and profit shares available for discretionary division among members

(62,847

)

(77,122

)

Depreciation charges

1,336

1,336

Finance income

(1,542

)

(1,807

)

(63,053

)

(77,593

)

(Increase)/decrease in trade and other debtors

(76,848

)

1,602

Increase/(decrease) in trade and other creditors

13,702

(18,608

)

Cash generated from operations

(126,199

)

(94,599

)

3.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

160,699

134,511

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

134,511

141,415

4.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 1.1.25

Cash flow

changes

At 31.12.25

£

£

£

£

Net cash

Cash and cash equivalents

134,511

26,188

160,699

134,511

26,188

160,699

Net funds (before

members' debt)

134,511

26,188

-

160,699

Loans and other debts

due to members

Other amounts

due to members

-

76,289

(76,289

)

-

Net funds

134,511

102,477

(76,289

)

160,699

1.	STATUTORY INFORMATION

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

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" 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The LLP has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

Related party exemption

The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Judgments in applying accounting policies

Preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the Statement of Financial Position and the amounts reported for revenues and expenses during the year.

Critical judgements in applying the entity's accounting policies

The members have not been required to make any other critical judgements in applying the accounting policies.

Critical accounting estimates and assumptions

The Partnership makes estimates and assumptions concerning the future. The resulting accounting

estimates may not equal the related actual results. There are no estimates or assumptions that have significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year are addressed below.

a) Useful economic lives of non-financial assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets.The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilization and the physical condition of the assets.

b) Impairment of debtors

The Members make an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Revenue

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to thePartnership and the revenue can be reliably measured. Revenue is measured as the fair value of he 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 Partnership 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.

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 provided on the following basis:

Office equipment - 3 years

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 the Statement of Comprehensive Income.

Financial instruments

The Partnership's financial assets comprise basic financial assets, being trade and other receivables, cash at bank and current asset investments.

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

Trade and other receivables are measured initially at transaction price and thereafter at the amount

of cash or other consideration expected to be received less any impairment. Any impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when the contractual rights to the cash flow from the financial

assets expire or are settled, or when substantially all the risks and rewards of the ownership of the

asset are transferred.

Investments represent the Partnership's investment portfolio of listed equities and bonds managed

by a third party. This investment is measured at fair value through profit or loss based on the underlying net asset value of the portfolio and is considered as level 1,as a price for the portfolio is readily and regularly available and an active market exists.

Impairment

An impairment loss is measured as the difference between an asset's carrying amount and a best estimate of its recoverable value, which is an approximation of the amount that the Partnership would receive for the asset if it were to be sold at the reporting date.

Financial liabilities

The Partnership's financial liabilities comprise basic financial liabilities, being trade and otherpayables.These are measured initially at the transaction price and thereafter at the amount of cash or other consideration expected to be paid.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business form suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, that are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Foreign currencies

Functional and presentational currency

The Partnership's presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchangerate at the dates of the transactions. Transactions in foreign currencies are recorded at the rate ruling at the commencement of the month during which the transaction arises. Monetary assets andliabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the date of the Statement of Financial Position. All differences are taken to the Statement of Comprehensive Income.

Operating leases: the partnership as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals paid under operating leases are charged to Statement of Comprehensive Income on astraight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on astraight line basis over the lease term, unless another systematic basis is representative of the timepattern of the lessee's benefit from the use of the leased asset.

Pension costs and other post-retirement benefits

Defined contribution pension plan

The Partnership operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Partnership pays fixed contributions into a separate entity. Once the contributions have been paid the Partnership 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 Partnership in independently administered funds.

Members capital and profit allocations

Repayment of capital

Capital contributed by the Members is recognised as equity in the financial statements of the LLP on the basis that, in accordance with the Partnership agreement, capital is only repayable upon the winding-up of the Partnership or at the discretion of the Managing Member. The Partnership has no obligation to repay capital to Members.

Drawings and profit allocations

The Members may take drawings in anticipation of future profit allocations. Profit allocations are at

the discretion of the Members. Any drawings in excess of profit allocations are included in debtors.

3.	EMPLOYEE INFORMATION

2025

2024

£

£

Wages and salaries

82,725

82,461

Social security costs

2,540

5,124

Other pension costs

3,309

3,298

88,574

90,883

The average number of employees during the year was as follows:

2025

2024

Administration

1

1

4.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£

£

Other operating leases

20,748

19,340

Depreciation - owned assets

1,336

1,336

Auditors' remuneration

7,500

9,000

Foreign exchange differences

5,759

4,319

5.	INFORMATION IN RELATION TO MEMBERS

2025

2024

The average number of members during the year was

3

3

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

and 31 December 2025

7,876

DEPRECIATION

At 1 January 2025

5,538

Charge for year

1,336

At 31 December 2025

6,874

NET BOOK VALUE

At 31 December 2025

1,002

At 31 December 2024

2,338

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

128,493

80,828

Amounts due from members

846,263

769,974

Other debtors

73,556

38,506

VAT

9,015

10,951

Prepayments and accrued income

6,439

10,371

1,063,766

910,630

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,654

41,838

Social security and other taxes

2,015

2,862

Other creditors

47,757

20,033

Accruals and deferred income

24,029

13,020

91,455

77,753

9.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is Principa Capital Partners Limited. The Partnership is included in the consolidated financial statements of Principa Capital Partners Limited.

The ultimate controlling party is Ashraf Medhat El-Ansary by virtue of his shareholdings.