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Registered number: 12012811 VICENTE & PARTNERS LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
VICENTE & PARTNERS LTD CONTENTS
| Page
Company information | 1
Balance sheet | 2 - 3
Statement of changes in equity | 4
Notes to the financial statements | 5 - 14
VICENTE & PARTNERS LTD COMPANY INFORMATION
Directors | A V Sebastian
| L Gaiduk
Company secretary | Broughton Secretaries Limited
Registered number | 12012811
Registered office | 14 Berkeley Street
| 5th Floor
| London
| W1J 8DX
Accountants | Blick Rothenberg Limited
| Chartered Accountants
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:12012811
VICENTE & PARTNERS LTD BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 7 |  | 33,529 |  | 7,295
Right of use asset | 8 |  | 605,646 |  | -
|  |  | 639,175 |  | 7,295
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 9 | 725,525 |  | 699,459 |
Bank and cash balances |  | 132,344 |  | 98,913 |
|  | 857,869 |  | 798,372 |
Creditors: amounts falling due within one year | 10 | (423,477) |  | (292,863) |
Net current assets |  |  | 434,392 |  | 505,509
Total assets less current liabilities |  |  | 1,073,567 |  | 512,804
Creditors: amounts falling due after more than one year | 11 |  | (503,266) |  | -
Net assets |  |  | 570,301 |  | 512,804
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 1 |  | 1
Profit and loss account |  |  | 570,300 |  | 512,803
Total equity |  |  | 570,301 |  | 512,804
Page 2
|  | REGISTERED NUMBER:12012811
VICENTE & PARTNERS LTD BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. 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 profit and loss account 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:
L Gaiduk
Director
Date: 17 August 2026
The notes on pages 5 to 14 form part of these financial statements. Page 3
VICENTE & PARTNERS LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 1 | 278,988 | 278,989
Profit for the year | - | 233,815 | 233,815
At 1 January 2025 | 1 | 512,803 | 512,804
Profit for the year | - | 307,497 | 307,497
Dividends: Equity capital | - | (250,000) | (250,000)
At 31 December 2025 | 1 | 570,300 | 570,301
| The notes on pages 5 to 14 form part of these financial statements.
Page 4
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Vicente & Partners Ltd is a private company limited by shares incorporated in England and Wales. The address of Its registered office is 14 Berkeley Street, 5th Floor, London, United Kingdom, W1J 8DX. The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
The company's sole customer is Vicente & Partners LLC, its parent undertaking. The company is therefore, dependent on the financial performance and support of Vicente & Partners LLC, such support the company would not be a going concern. After making enquiries of directors of the parent undertaking, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
| 2.3 | Revenue
Revenue arises from contracts to provide sales and marketing services to the parent company. To determine whether to recognise revenue, the Company follows a 5-step process: 1. Identifying the contract with a customer 2. Identifying the performance obligations 3. Determining the transaction price 4. Allocating the transaction price to the performance obligations, and then 5. Recognising revenue when/as performance obligation(s) are satisfied. The company has entered into one customer contract to provide sales and marketing services to the parent company. Revenue is recognised on a cost plus basis. Page 5
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold property | - | 20% |
|  |  |  | Fixtures and fittings | - | 14% |
|  |  |  | Computer equipment | - | 33% |
Leasehold improvements will be depreciated from subsequent period. 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 profit or loss.
| 2.5 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes 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. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Page 6
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Financial assets Basic financial assets, including other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Page 7
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.6 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.7 | Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
| 2.8 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 8
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Leased assets: the company as lessee
The company assesses whether a contract is, or contains, a lease, at inception of the contract. The company recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less from the commencement of the lease or the date of initial application of FRS 102) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the company uses its incremental borrowing rate or obtainable borrowing rate. The incremental borrowing rate is the estimated rate that the company would have to pay to borrow the same amount over a similar term, and with similar security to obtain an asset of equivalent value. The obtainable borrowing rate is the rate is the rate of interest the company would have to pay to borrow, over a similar term, an amount similar to the total undiscounted value of lease payments to be included in the measurement of the lease liability. The lease liability is remeasured when there is a change in the future lease payments, and a corresponding adjustment is made to the right of use asset.
| 2.10 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company 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 balance sheet. The assets of the plan are held separately from the company in independently administered funds. Page 9
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.11 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Sterling (£). 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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses are presented in administrative expenses.
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 10
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the accounting policies, which are described in note 2, the key judgements exercised by the directors in preparing these accounts are: Leases - Estimating the obtainable borrowing rate The company cannot readily determine the interest rate implicit in the lease, therefore, the company use the obtainable borrowing rate (OBR) to measure the liability for the lease where Company is a lessee. The OBR is rate of interest a lessee would have to pay to borrow, over a similar term, an amount similar to the total undiscounted value of lease payments to be included in the measurement of the lease liability.
4. | Changes in accounting policy
The Periodic Review 2024 amendments to FRS 102 have been early adopted and have been applied from 1st January 2025 as follows: Leases In applying the requirements of Section 20, the following practical expedients have been taken advantage of: The company did not reassess whether a contract is, or contains, a lease at the date of initial application. Instead, the company applied the requirements of the revised Section 20 to contracts that were previously identified as containing a lease, and did not apply the requirements of the revised Section 20 to contracts that were not previously identified as containing a lease. As required by FRS 102, this practical expedient has been applied to all of the company’s contracts.
5. | Initial application of the periodic review amendments
| The periodic review amendments to FRS 102 became effective for the company with effect from 1 January 2025.
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Operating lease payments not charged to profit and loss | 38,582 | -
| Amortisation charge for the right-of-use assets by class of assets | (38,763) | -
| Interest expense on lease liabilities (included in finance cost) | (8,775) | -
|  | (8,594) | -
6. | Employees
| The average monthly number of employees, including directors, during the year was 13 (2024 - 10).
Page 11
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Tangible fixed assets
|  | Leasehold property | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2025 | - | - | 15,993 | 15,993
| Additions | 20,000 | 7,423 | 5,871 | 33,294
| At 31 December 2025 | 20,000 | 7,423 | 21,864 | 49,287
| Depreciation |  |  |  |
| At 1 January 2025 | - | - | 8,698 | 8,698
| Charge for the year | - | 702 | 6,358 | 7,060
| At 31 December 2025 | - | 702 | 15,056 | 15,758
| Net book value |  |  |  |
| At 31 December 2025 | 20,000 | 6,721 | 6,808 | 33,529
| At 31 December 2024 | - | - | 7,295 | 7,295
Page 12
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Right of use asset
|  | Leasehold property
|  | £
| Cost |
| At 1 January 2025 | -
| Initial application adjustment | 644,409
| At 31 December 2025 | 644,409
| Amortisation |
| Charge for the year | 38,763
| At 31 December 2025 | 38,763
| Net book value |
| At 31 December 2025 | 605,646
| At 31 December 2024 | -
9. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 570,754 | 592,381
| Other debtors | 70,463 | 73,671
| Prepayments | 84,308 | 33,407
|  | 725,525 | 699,459
Page 13
VICENTE & PARTNERS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 8,507 | 18,620
| Corporation tax | 96,359 | 82,885
| Other taxation and social security | 51,585 | 47,796
| Lease liability | 131,335 | -
| Other creditors | 4,284 | 72,030
| Accruals | 131,407 | 71,532
|  | 423,477 | 292,863
| Lease liability The lease liability is in respect of the lease of a office premises with five years left to run at the balance sheet date. Lease payments amount to £154,330 per year. The lease liability is measured on the future fixed lease payments discounted at an incremental borrowing rate of 4%.
11. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Lease liabilty | 503,266 | -
12. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2024 - 1) Ordinary share of £1.00 | 1 | 1
13. | Related party transactions
| The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
14. | Parent undertaking
The smallest group for which consolidated financial statements are drawn up is headed by Vicente & Partners LLC, whose registered office is 1209 Orange Street, Wilmington, Delaware, United States.
Page 14