Grant_Thornton_Advisors_(

Grant Thornton Advisors (NI) LLP

Members' report

For the period ended 31 December 2025

The members present their annual report together with the audited financial statements of Grant Thornton Advisors (NI) LLP (the "LLP") for the period ended 31 December 2025.

The LLP was incorporated on 20 November 2024 and as such these financial statements cover the LLP's first reporting period, from incorporation to 31 December 2025.

Principal activities

The LLP was incorporated on 20 November 2024.

The principal activity of the LLP is the provision of professional services.

Designated Members

Grant Thornton (Holdings) NI Limited and Grant Thornton Kaizen Limited were designated members of the LLP throughout the period.

Members

Richard Gillan, Alan Gourley, Louise Kelly, Peter Legge and Neal Taylor were members of the LLP from incorporation until 3 January 2025.

Members' capital and interests

Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

Details of changes in members' capital in the period ended 31 December 2025 are set out in the Reconciliation of members' interests.

Members are remunerated from the profits of the LLP 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.

Principal risks and uncertainties

In common with all entities operating in this sector, the entity faces economic, financial and competitor risk. The partners of the LLP manage competition through close attention to customer service level. The LLP has budgetary and financial reporting procedures, supported by appropriate key performance indicators, to manage credit, liquidity and other financial risk. The continued success of the LLP has been achieved by the people working in it. Their continued loyalty and hard work is much appreciated. The LLP faces increasing energy costs and increasing cost of living claims from employees. The LLP has access to considerable financial resources, namely members' capital, undistributed profits and borrowing facilities. This funding together with well established relationships with many clients and suppliers across different areas and industries, leaving the LLP well placed to manage the financial impact of our business risks and those that may arise as a result of other wider economic impacts. The members are of the opinion that the LLP is well positioned to manage these issues.

Future developments

The LLP plans to continue its present activities and current trading levels.

Page 1

Grant Thornton Advisors (NI) LLP

Members' report (continued)

For the period ended 31 December 2025

Post balance sheet events

There are no post balance sheet events requiring disclosure.

Members' responsibilities statement

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), 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 company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) 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;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

Disclosure of information to auditors

Each of the persons who are members at the time when this Members' report is approved has confirmed that:

so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and

that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

Page 2

Grant Thornton Advisors (NI) LLP

Members' report (continued)

For the period ended 31 December 2025

Auditors

The auditors, McAleer Jackson Ltd, were appointed during the period and have indicated their willingness to continue in office. The Designated members will propose a motion reappointing the auditors at a meeting of the members.

This report was approved by the members on

19 August 2026

and signed on their behalf by:

Louise Kelly

For an on behalf of

Grant Thornton Kaizen Limited

Designated member

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GRANT THORNTON ADVISORS (NI) LLP

Opinion

We have audited the financial statements of Grant Thornton Advisors (NI) LLP (the ‘limited liability partnership') for the period ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Reconciliation of Member's Interests and notes to the financial statements, including 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 limited liability partnership's affairs as at 31 December 2025, and of its loss for the period 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 limited liability partnerships 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 Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership 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 limited liability partnership'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 other information comprises the information included in the members' report, other than the financial statements and our auditor's report thereon. The members are responsible for the other information contained within the members' report. 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. 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 course of 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 in relation to which the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 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; or

the members were not entitled to prepare the financial statements in accordance with the small limited liability partnerships regime.

Responsibilities of members

As explained more fully in the members' responsibilities statement set out on page 2, 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 is 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 limited liability partnership'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 limited liability partnership or to cease operations, or have no realistic alternative but to do so.

Page 4

Auditor 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 an auditor's report 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.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We obtained an understanding of the legal and regulatory framework that the partnership operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included in the UK Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2008, pensions and tax legislation, various employment legislation, together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the limited liability partnership's ability to avoid a material penalty.

We tailored our response to those identified risks to include enquiring of management and external legal advisors concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with tax authorities and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. We apply professional scepticism throughout the audit to consider deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

the nature of the industry and sector, control environment and business performance including the partnership's remuneration policies, and performance targets

results of our enquiries of management and other key persons about the partnership's own policies for the identification and assessment of the risks of irregularities, including those that may occur either as a result of fraud or error, and matters we identified from our review of the partnership's policies, procedures and internal controls; and

the matters discussed among the audit engagement team regarding potential indicators of fraud and where it might occur in the financial statements;

design of audit procedures responsive to those risks that incorporate unpredictability around the nature, timing and extent of our testing.

We communicatee 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/auditorresponsibilities. The description forms part of our Auditor's report.

Use of our report

This report is made solely to the limited liability partnership's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to limited liability partnerships 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 limited liability partnership's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the limited liability partnership and the limited liability partnership's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Barnett (Senior Statutory Auditor)

for and on behalf of McAleer Jackson Ltd

Statutory Auditors

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

19 August 2026

Page 5

Grant Thornton Advisors (NI) LLP

Statement of comprehensive income

For the period ended 31 December 2025

14 month period ended

31 December

2025

Note

Turnover

16,716,152

Cost of sales

(14,280,231)

Gross profit

2,435,921

Administrative expenses

(2,708,902)

Operating loss

(272,981)

Deferred tax credit

57,226

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

(215,755)

All amounts relate to continuing operations.

There was no other comprehensive income for 2025.

___________

The notes on pages 10 to 21 form part of these financial statements.

Page 6

Grant Thornton Advisors (NI) LLP

Registered number:NC001801

Balance sheet

As at 31 December 2025

2025

Note

Fixed assets

191,129

Tangible assets

___________

191,129

Current assets

7,190,502

Debtors: amounts falling due within one year

1,596,086

Cash at bank and in hand

___________

8,786,588

Current liabilities

Creditors: amounts falling due within one year

(6,574,258)

___________

2,212,330

Net current assets

___________

Total assets less current liabilities

2,403,459

Net assets

2,403,459

Represented by:

Members' other interests

Members' capital classified as equity

2,619,214

Other reserves classified as equity

(215,755)

2,403,459

___________

2,403,459

Total members' interests

Members' other interests

2,403,459

___________

2,403,459

Page 7

Grant Thornton Advisors (NI) LLP

Registered number:NC001801

Balance sheet (continued)

As at 31 December 2025

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 19 August 2026.

Louise Kelly

for and on behalf of

Grant Thornton Kaizen Limited

Designated member

The notes on pages 10 to 21 form part of these financial statements.

Grant Thornton Advisors (NI) LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 8

Grant Thornton Advisors (NI) LLP

Reconciliation of members' interests

For the period ended 31 December 2025

Other reserves

Members' capital

Total

Loss for the period available for discretionary division among members

(215,755)

_________

Members' interests after profit for the period

(215,755)

Amounts introduced by members

2,619,214

Balance at 31 December 2025

(215,755)

2,619,214

2,403,459

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 9

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

General information

Grant Thornton Advisors (NI) LLP is a Limited Liability Partnership incorporated and registered in Northern Ireland. The registered number of the LLP is NC001801. The registered office of the LLP is 1215 Donegall Square West, Belfast, BT1 6JH, which is also the principal place of business of the LLP.

The principal activity of the LLP during the period was the provision of professional services.

The LLP was incorporated on 20 November 2024 and as such these financial statements cover the LLP's first reporting period, from incorporation to 31 December 2025.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;

the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Grant Thornton Holdings Limited as at 31 December 2025 and these financial statements may be obtained from CRO.

2.3

Going concern

After reviewing the LLP's forecasts and projections, the directors have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore adopts the going concern basis in preparing its financial statement.

Page 10

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The LLP'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. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and nonmonetary 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 periodend 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 that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.5

Revenue

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

Page 11

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

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

2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 LLP operates and generates income.

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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 12

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Accounting policies (continued)

2.8

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Statement of comprehensive income.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

2.9

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straightline method.

Depreciation is provided on the following basis:

Leasehold improvements

10% and 6.67% straight line

Fixtures and fittings

15% straight line

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.

2.10

Amounts receivable under contracts

Amounts receivable under contracts is reflected in the accounts at the expected recoverable revenue for work carried out during the financial period that has not yet been invoiced after impairment.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 13

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Accounting policies (continued)

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a shortterm instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an outright short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are 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 amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

Page 14

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Accounting policies (continued)

2.15

Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the reporting date.

Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These 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.

The LLP makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

a) Recognition of revenue

In calculating revenue from service contracts, the LLP make certain estimates as to the extent to which performance obligations have been satisfied. In doing so, the LLP estimate the remaining time and external costs to be incurred in completing contracts and the clients' willingness and ability to pay for the services provided. These estimates depend upon the outcome of future events and may need to be revised as circumstances change. Estimates of revenue, cost or extent of progress toward completion are revised if circumstances change. Estimates are updated at each reporting date, including application of any constraint in respect of variable consideration until the uncertainty is resolved. Any resulting increases in estimated revenues or costs are reflected in the income statement in the period in which the circumstances arose.

b) Useful economic lives of tangible 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 reassessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets

c) Recoverability of debtors

Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

d) Impairment of amounts receivable under contracts

The LLP makes an estimate of the provision required against amounts receivable under contracts for nonrecoverability. These estimates are based on historical experience and the level of provision is reviewed on an ongoing basis.

Page 15

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Turnover

An analysis of turnover by class of business is as follows:

14 month period ended

31 December

2025

16,716,152

Fees

_________

16,716,152

All turnover arose within the United Kingdom.

Operating loss

The operating loss is stated after charging:

14 month period ended

31 December

2025

Exchange differences

34,810

Depreciation of tangible fixed assets

90,324

Bad debts

15,742

Auditors' remuneration

During the period, the LLP obtained the following services from the LLP's auditors:

14 month period ended

31 December

2025

Fees payable to the LLP's auditors for the audit of the LLP's financial statements

9,750

Page 16

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Employees

Staff costs were as follows:

14 month period ended

31 December

2025

Wages and salaries

16,629,818

Social security costs

1,418,989

Cost of defined contribution scheme

433,729

_________

18,482,536

The average monthly number of persons (including members with contracts of employment) employed during the period was as follows:

14 month period ended

31 December

2025

No.

Professional staff

231

Senior management

_________

241

Page 17

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Taxation

14 month period ended

31 December

2025

Corporation tax

Total current tax

Deferred tax

Origination and reversal of timing differences

(57,226)

_________

Total deferred tax

(57,226)

Deferred tax credit

(57,226)

Factors affecting tax charge for the period

The tax assessed for the period is higher than the standard rate of corporation tax in the UK of 25%. The differences are explained below:

14 month period ended

31 December

2025

Loss on ordinary activities before tax

(272,981)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25%

(68,245)

Effects of:

Expenses not deductible for tax purposes

1,721

Fixed asset timing differences

9,298

_________

Total tax credit for the period

(57,226)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 18

Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

Tangible fixed assets

Leasehold improvements

Fixtures and fittings

Total

Cost or valuation

Additions

1,665

Transfers

823,073

198,652

1,021,725

_________

At 31 December 2025

823,073

200,317

1,023,390

_________

Depreciation

Charge for the period

81,259

9,065

90,324

Transfers

567,261

174,676

741,937

_________

At 31 December 2025

648,520

183,741

832,261

_________

Net book value

At 31 December 2025

174,553

16,576

191,129

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Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

10.

Debtors

2025

4,641,753

Trade debtors

1,336

Amounts owed by group undertakings

235,931

Other debtors

314,238

Prepayments and accrued income

Amounts receivable under contracts

1,940,018

Deferred taxation

57,226

7,190,502

Trade debtors are stated after provision for impairment of €373,085.

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Amounts receivable under contracts is stated after provision for impairment of €387,431.

_________

11.

Cash and cash equivalents

2025

Cash at bank and in hand

1,596,086

_________

1,596,086

12.

Creditors: Amounts falling due within one year

2025

296,796

Trade creditors

Amounts owed to group undertakings

2,269,709

1,218,517

Other taxation and social security

109,762

Other creditors

Accruals and deferred income

2,679,474

_________

6,574,258

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

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Grant Thornton Advisors (NI) LLP

Notes to the financial statements

For the period ended 31 December 2025

13.

Deferred taxation

2025

Credited to profit or loss

57,226

_________

At end of year

57,226

The deferred tax asset is made up as follows:

2025

Fixed asset timing differences

6,147

Short term timing differences

51,079

_________

57,226

14.

Pension commitments

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £433,729. Contributions totaling £104,314 were payable to the fund at the year end.

15.

Related party transactions

The LLP has availed of FRS 102 Section 33, Paragraph 33.1A which allows non-disclosure of transactions between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Grant Thornton (NI) LLP is a Partnership with common members. At the period end, Grant Thornton Advisors (NI) LLP owed Grant Thornton (NI) LLP £1,608,375 (2024: £Nil). During the period, Grant Thornton Advisors (NI) LLP purchased goods/services from Grant Thornton (NI) LLP totalling £4,137,266 (2024: £Nil). During the period, Grant Thornton Advisors (NI) LLP sold goods/services to Grant Thornton (NI) LLP totalling £13,618,416 (2024: £Nil).

16.

Post balance sheet events

There are no post balance sheet events requiring disclosure.

17.

Controlling party

The LLP is controlled by its members. Accordingly, there is no ultimate controlling party.

Page 21