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Company No: 07382345 (England and Wales)

# MIDDLETON ADVISORS CORPORATE LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH THE REGISTRAR

MIDDLETON ADVISORS CORPORATE LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

Contents

MIDDLETON ADVISORS CORPORATE LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
MIDDLETON ADVISORS CORPORATE LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

DIRECTORS | T Hudson
| M Parkinson

SECRETARY | T Hudson

REGISTERED OFFICE | 22 Baker Street
| London
| W1U 3BW
| United Kingdom

COMPANY NUMBER | 07382345 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| 264 Banbury Road
| Oxford
| OX2 7DY
| United Kingdom

MIDDLETON ADVISORS CORPORATE LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2026
MIDDLETON ADVISORS CORPORATE LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 32,863 |  | 78,434
|  | 32,863 |  | 78,434
Current assets |  |  |  |
Debtors | 5 | 652,915 |  | 959,058
Cash at bank and in hand |  | 507,661 |  | 857,011
|  | 1,160,576 |  | 1,816,069
Creditors: amounts falling due within one year | 6 | ( 1,101,919) |  | ( 1,609,384)
Net current assets |  | 58,657 |  | 206,685
Total assets less current liabilities |  | 91,520 |  | 285,119
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 33,552)
Provision for liabilities |  | ( 7,929) |  | ( 11,068)
Net assets |  | 83,591 |  | 240,499
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1,155 |  | 1,186
Share premium account |  | 45,640 |  | 45,640
Capital redemption reserve |  | 31 |  | 0
Profit and loss account |  | 36,765 |  | 193,673
Total shareholders' funds |  | 83,591 |  | 240,499

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Middleton Advisors Corporate Limited (registered number: 07382345) were approved and authorised for issue by the Board of Directors on 08 August 2026. They were signed on its behalf by:

T Hudson Director |  | M Parkinson Director

MIDDLETON ADVISORS CORPORATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026
MIDDLETON ADVISORS CORPORATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2026

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Middleton Advisors Corporate Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Baker Street, London, W1U 3BW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.
Fair value is measured by use of the Black Scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 3 - 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 26 |  | 28

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2025 | 1,303,066 |  | 1,303,066
At 31 March 2026 | 1,303,066 |  | 1,303,066
Accumulated amortisation |  |  |
At 01 April 2025 | 1,303,066 |  | 1,303,066
At 31 March 2026 | 1,303,066 |  | 1,303,066
Net book value |  |  |
At 31 March 2026 | 0 |  | 0
At 31 March 2025 | 0 |  | 0

#### 4. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2025 | 272,515 |  | 272,515
Additions | 11,266 |  | 11,266
Disposals | ( 116,782) |  | ( 116,782)
At 31 March 2026 | 166,999 |  | 166,999
Accumulated depreciation |  |  |
At 01 April 2025 | 194,081 |  | 194,081
Charge for the financial year | 30,758 |  | 30,758
Disposals | ( 90,703) |  | ( 90,703)
At 31 March 2026 | 134,136 |  | 134,136
Net book value |  |  |
At 31 March 2026 | 32,863 |  | 32,863
At 31 March 2025 | 78,434 |  | 78,434

#### 5. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 275,460 |  | 880,592
Amounts owed by Group undertakings | 104,207 |  | 0
Amounts owed by related parties | 12,043 |  | 11,518
Amounts owed by directors | 193,666 |  | 0
Prepayments | 31,545 |  | 21,236
Other debtors | 35,994 |  | 45,712
| 652,915 |  | 959,058

#### 6. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Bank overdrafts | 472,737 |  | 0
Trade creditors | 76,879 |  | 178,169
Accruals | 166,507 |  | 786,166
Corporation tax | 118,873 |  | 282,227
Other taxation and social security | 254,219 |  | 345,108
Obligations under finance leases and hire purchase contracts | 0 |  | 5,734
Other creditors | 12,704 |  | 11,980
| 1,101,919 |  | 1,609,384

#### 7. Creditors: amounts falling due after more than one year

| 2026 |  | 2025
| £ |  | £
Obligations under finance leases and hire purchase contracts | 0 |  | 33,552

#### 8. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
11,546 Founder ordinary shares of £ 0.01 each (2025: nil shares) | 115.46 |  | 0
103,922 Ordinary shares of £ 0.01 each (2025: nil shares) | 1,039.22 |  | 0
Nil A ordinary shares (2025: 52,321 shares of £ 0.01 each) | 0 |  | 523.21
Nil B ordinary shares (2025: 52,321 shares of £ 0.01 each) | 0 |  | 523.21
Nil C ordinary shares (2025: 12,372 shares of £ 0.01 each) | 0 |  | 123.72
Nil D ordinary shares (2025: 1,546 shares of £ 0.01 each) | 0 |  | 15.46
| 1,154.68 |  | 1,185.60

The company has two classes of shares in issue: ordinary shares and founder shares.
All ordinary shares are held by the Middleton Advisors Corporate Employee Ownership Trust (“the EOT”), which holds the shares for the benefit of the employees of the company.
Founder shares are held by two directors of the company. These shares are not held by the EOT.

#### 9. Financial commitments

Commitments

| 2026 |  | 2025
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 292,527 |  | 76,146

#### 10. Related party transactions

Transactions with the entity's directors

Dividends totaling £50,750 (2025 - £1,292,491) were paid in the year in respect of shares held by the company's directors.
At the balance sheet date £193,665 (2025 - £Nil) remains due from the directors and is included within current assets. These amounts are repayable on demand, and interest has been charged in line with HMRC's official rate.
Included in other debtors is £104,207 (2025 - £Nil), owed by the company's shareholder, an employee ownership trust. This amount is repayable on demand

#### 11. Ultimate controlling party

Parent Company:

Middleton Advisors Trustees Limited
22 Baker Street, 22 Baker Street, London, England, W1U 3BW

During the year control of the company was transferred from the company's directors to Middleton Advisors Trustees Limited, a limited company acting as the trustee of The Middleton Advisors Corporate Employee Ownership Trust.