Financial Statements

for the Year Ended 31 December 2025

for

Ankura Sovereign Advisors LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Ankura Consulting (Europe) Limited

REGISTERED OFFICE:

1 Angel Court

3rd Floor

London

EC2R 7HJ

REGISTERED NUMBER:

OC346618 (England and Wales)

AUDITORS:

Williams & Co Epsom LLP

Statutory Auditors

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

-

450

CURRENT ASSETS

Debtors

5

463,791

577,520

Cash at bank

6

560,977

709,400

1,024,768

1,286,920

CREDITORS

Amounts falling due within one year

7

129,548

671,319

NET CURRENT ASSETS

895,220

615,601

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

895,220

616,051

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

746,720

467,551

MEMBERS' OTHER INTERESTS

Capital accounts

148,500

148,500

895,220

616,051

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

746,720

467,551

Members' other interests

148,500

148,500

895,220

616,051

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 9 April 2026 and were signed by:

Ankura Consulting (Europe) Limited - Designated member

1.	STATUTORY INFORMATION

Newstate Partners LLP is a limited liability partnership incorporated 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" including the provisions of Section 1A "Small Entities" 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.

The LLP came under new ownership in the year which has resulted in changes to how the existing business was run. These changes are not expected to have any impact on the profitability of the LLP going forward and the members have prepared budgets and forecasts for the next few years to plan ahead.

The new parent organisation has also pledged financial support to the LLP and as a result, the accounts continue to be drawn up on a going concern basis.

Turnover

Turnover, which is stated net of value added tax, represents advisory fees charged in accordance with the client contract. Fees are recognised on the accruals basis as they fall or when conditions within a customer contract are met so the fees become due for payment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Taxation

No provision has been made for taxation in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP. Tax is assessed on the individual members and not on the LLP.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

and 31 December 2025

8,722

DEPRECIATION

At 1 January 2025

8,272

Charge for year

450

At 31 December 2025

8,722

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

450

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

417,408

423,902

Other debtors

-

17,676

VAT

-

4,808

Prepayments and accrued income

46,383

131,134

463,791

577,520

6.	CASH AT BANK

2025

2024

£

£

Cash at bank and in hand

560,977

709,400

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

84,955

57,935

Social security and other taxes

17,524

-

VAT

251

-

Accruals and deferred income

26,818

613,384

129,548

671,319

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

746,720

467,551

Falling due within one year

746,720

467,551

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Smith BA FCA (Senior Statutory Auditor)

for and on behalf of Williams & Co Epsom LLP

10.	PENSION COMMITMENTS

The company participates in a money purchase pension plan. The pension cost charged during the period was £30,350 (2024 £27,089). At the year end there were no outstanding contributions to the scheme (2024: £Nil).

11.	ULTIMATE CONTROLLING PARTY

The controlling party of the LLP is Ankura Consulting ( Europe ) Limited. This company does not have any persons of significant control.