These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships' regime and in accordance with the provision of Financial Reporting Standard 102 Section 1A - Small Entities.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

Confluence Investors LLP is a limited liability partnership incorporated in England and Wales. The registered office is The Grove 4th Floor, 248a Marylebone Road, London, United Kingdom, NW1 6JZ.

The limited liability partnership's principal activities are disclosed in the Members' Report.

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

As at the balance sheet date Capitalworks Services Limited have provided a facility of $120,000 in terms of funding to support the LLP to meet its debts over the next 12 months.

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average number of persons (excluding members) employed by the partnership during the year was:

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

The auditor's report is unqualified and includes the following:

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 March 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 limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The LLP received £46,000 (2024: £32,000) during the year from a related entity Capitalworks Services Limited, as an interest free working capital loan. As at 31 March 2025 the total amount owed to Capitalworks Services Limited with respect to the working capital loan was £78,250 (2024: £32,250).

During the year, Matthew Hodgkinson, a designated member with significant control over the LLP, made payments on behalf of the LLP of £1,789 (2024: £2,037), and received repayments from the LLP of £622 (2024: £1,572). The balance owed to Matthew Hodgkinson as at 31 March 2025 was £1,789 (2024: £465).

The LLP is controlled by Capitalworks Services Limited, a company incorporated in the United Kingdom. The ultimate controlling party of the LLP is Capitalworks Investment Partners Holdings Limited, a company incorporated in Malta.