Admira Partners UK Ltd

	Page
Strategic Report	1
Director's Report	2
Independent Auditor's Report	3—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—18

The director presents her strategic report for the year ended 31 August 2025.

Principal Activity

The principal activity of the Company during the year was the provision of football agency, sports consultancy and intermediary services within the international football industry. The Company acts in connection with player transfers, contract negotiations and advisory services for football clubs, football agents and other industry participants in multiple jurisdictions.

The Company is registered and authorised to carry out football agent activities and provides consultancy services to clients operating under different football associations and regulatory frameworks worldwide.

Review of the Business

The Company continued to develop its international network and maintained commercial relationships with football clubs, agents and other counterparties across various territories. Revenue was generated from consultancy, intermediary and football-related advisory services.

Turnover increased to £27.1 million (2024: £17.8 million), mainly due to a higher volume and value of transactions completed during the year, together with increased activity across the Company’s existing international network.

Gross profit increased to £1.8 million (2024: £1.4 million), although the gross profit margin decreased to 6.6% (2024: 7.8%). Profit before taxation was £1.7 million (2024: £1.1 million).

At the year end, the Company had net assets of £3.9 million (2024: £2.7 million) and cash at bank and in hand of £1.7 million (2024: £1.7 million).

The directors consider the performance and financial position of the Company at the year end to be satisfactory.

Principal Risks and Uncertainties

The Company operates in the international football market and is exposed to a number of business risks and uncertainties

Foreign Exchange Risk

The Company is exposed to foreign exchange risk because a significant proportion of its transactions are denominated in euros and US dollars.

Counterparty Risk

The Company is also exposed to credit risk in relation to amounts due from football clubs. The director monitors outstanding balances and the recoverability of amounts due.

Industry and Market Risk

The Company’s performance is dependent on activity within the international football market and may be affected by changes in market conditions and football regulations.

Future Developments

The Company intends to continue developing its football agency, intermediary and consultancy activities in the United Kingdom and overseas.

On behalf of the board

Mrs. Carolina Varela Martinez

Director

24/09/2026

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Admira Partners UK Ltd

Company No. 08182864

Director's Report For The Year Ended 31 August 2025

Director's Report

The director presents her report and the financial statements for the year ended 31 August 2025.

Dividends

The profit for the financial year after taxation was £1,309,626 (2024: £801,311).

Dividends of £172,322 were recognised during the year (2024: £174,511).

Directors

The director who held office during the year was:

Mrs. Carolina Varela Martinez

Statement of Director's Responsibilities

The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 the director 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 company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments 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; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Glazers Chartered Accountants, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mrs. Carolina Varela Martinez

Director

24/09/2026

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Page 3

Independent Auditor's Report

to the Members of

Admira Partners UK Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Admira Partners UK Ltd for the year ended 31 August 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit/(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.

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's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 director's 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual 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. In connection with our audit of the financial statements, 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 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.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Admira Partners UK Ltd

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 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 or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is 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 director 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 director is responsible for assessing the company'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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Admira Partners UK Ltd

Auditor's 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.

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

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:

1) Enquiries of management concerning the company's policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

2) The company's remuneration policies, key drivers for remuneration and bonus levels; and

3) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and United Kingdom Generally Accepted Accounting Practice.

In addition, we considered 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 company's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- Enquiring of management 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;

- Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant tax authorities; and

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Admira Partners UK Ltd

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ben Allen (Senior Statutory Auditor)

for and on behalf of Glazers Chartered Accountants , Statutory Auditor

24/09/2026

Glazers Chartered Accountants

843 Finchley Road

London

NW11 8NA

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Admira Partners UK Ltd

Profit and Loss Account

For The Year Ended 31 August 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	27,119,433	17,836,523
Cost of sales		(25,324,396 )	(16,448,639 )

GROSS PROFIT		1,795,037	1,387,884

Administrative expenses		(19,468 )	(319,535 )

OPERATING PROFIT		1,775,569	1,068,349
Fair value gains on investments		17,942	-
Income from other fixed asset investments		384	-
Other interest receivable and similar income	7	18,291	2,049
Interest payable and similar charges	8	(69,431 )	(1,983 )

PROFIT BEFORE TAXATION		1,742,755	1,068,415
Tax on Profit	9	(433,129 )	(267,104 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,309,626	801,311

The notes on pages 12 to 18 form part of these financial statements.

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Admira Partners UK Ltd

Statement of Comprehensive Income

For The Year Ended 31 August 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,309,626	801,311
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,309,626	801,311

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Admira Partners UK Ltd

Balance Sheet

As At 31 August 2025

Balance Sheet

Registered number: 08182864

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	10		-		2,666
Investments	11		170,851		580,482

			170,851		583,148
CURRENT ASSETS
Debtors	12	4,488,319		4,730,692
Cash at bank and in hand		1,738,740		1,734,167

		6,227,059		6,464,859
Creditors: Amounts Falling Due Within One Year	13	(2,530,337 )		(4,317,649 )

NET CURRENT ASSETS (LIABILITIES)			3,696,722		2,147,210

TOTAL ASSETS LESS CURRENT LIABILITIES			3,867,573		2,730,358

NET ASSETS			3,867,573		2,730,358

CAPITAL AND RESERVES
Called up share capital	14		10,000		10,000
Profit and Loss Account			3,857,573		2,720,358

SHAREHOLDERS' FUNDS			3,867,573		2,730,358

The financial statements were approved by the board and authorised for issue on 24 September 2026 and signed on its behalf by:

Mrs. Carolina Varela Martinez

Director

The notes on pages 12 to 18 form part of these financial statements.

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Admira Partners UK Ltd

Statement of Changes in Equity

For The Year Ended 31 August 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 September 2023	10,000	2,093,558	2,103,558
Profit for the year and total comprehensive income	-	801,311	801,311

Dividends paid	-	(174,511)	(174,511)

As at 31 August 2024 and 1 September 2024	10,000	2,720,358	2,730,358


Profit for the year and total comprehensive income	-	1,309,626	1,309,626

Dividends paid	-	(172,322)	(172,322)

As at 31 August 2025	10,000	3,857,573	3,867,573

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Admira Partners UK Ltd

Statement of Cash Flows

For The Year Ended 31 August 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from/(used in) operations	1	285,077	(1,190,397 )
Interest paid		(69,431 )	(1,983 )
Tax paid		(484,999 )	(423,658 )

Net cash used in operating activities		(269,353 )	(1,616,038 )

Cash flows from investing activities
Purchase of tangible assets		-	(2,666 )
Purchase of other fixed asset investments		-	(580,482 )
Proceeds from disposal of other fixed asset investments		427,573	-
Interest received		18,291	2,049
Dividends received		384	-

Net cash generated from/(used in) investing activities		446,248	(581,099 )

Cash flows from financing activities
Equity dividends paid		(172,322 )	(174,511 )



Increase/(decrease) in cash and cash equivalents		4,573	(2,371,648 )
Cash and cash equivalents at beginning of year	2	1,734,167	4,105,815

Cash and cash equivalents at end of year	2	1,738,740	1,734,167

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Admira Partners UK Ltd

Notes to the Statement of Cash Flows

For The Year Ended 31 August 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from/(used in) operations

	2025	2024
	£	£
Profit for the financial year	1,309,626	801,311
Adjustments for:
Tax on profit	433,129	267,104
Interest expense	69,431	1,983
Interest income	(18,291 )	(2,049 )
Income from investments	(384)	-
Loss on disposal of tangible assets	2,666	-
Net fair value gains recognised in profit or loss	(17,942)	-
Foreign exchange gains	(89)	-
Movements in working capital:
Decrease/(increase) in trade and other debtors	242,373	(1,118,891 )
Decrease in trade and other creditors	(1,735,442 )	(1,139,855 )

Net cash generated from/(used in) operations	285,077	(1,190,397 )

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,738,740	1,734,167

3. Analysis of changes in net funds

	As at 1 September 2024	Cash flows	As at 31 August 2025
	£	£	£
Cash at bank and in hand	1,734,167	4,573	1,738,740

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Admira Partners UK Ltd

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

Admira Partners UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08182864 . The registered office is Vineyards Business Centre, 36 Gloucester Avenue, London, NW1 7BB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in pounds sterling, which is the Company’s functional and presentation currency.

2.2. Going Concern Disclosure

The director has considered the Company’s financial position, cash-flow requirements and expected trading performance for a period of at least 12 months from the date on which these financial statements are authorised for issue.

At the reporting date, the Company had net current assets of £3,696,722 and cash at bank and in hand of £1,738,740. Based on the assessment performed, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going-concern basis.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the directors 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.

Revenue recognition

Judgement is applied in determining the point at which the Company has completed its contractual obligations and becomes entitled to commission or consultancy income.

This assessment is based on the relevant contracts and may depend on completion of a player transfer, execution of an employment or representation agreement, achievement of another contractual milestone or delivery of the agreed service.

Recoverability of related-party loans

The Company had loans receivable from companies under common control totalling £1,999,291 at 31 August 2025 (2024: £804,825).

The director has assessed the recoverability of these balances with reference to the borrowers’ financial positions, expected future cash flows, repayment arrangements and ability to obtain financial support where necessary.

Valuation of listed investments

Listed investments with a carrying value of £170,851 at 31 August 2025 (2024: £580,482) are measured at fair value by reference to quoted market prices at the reporting date.

Where investments are denominated in foreign currencies, their fair values are translated into sterling using the exchange rate ruling at the reporting date.

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Admira Partners UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.4. Turnover

Turnover represents amounts receivable for football agency, intermediary and consultancy services, net of discounts and value added tax.

Revenue is recognised when the Company has completed its contractual obligations and becomes entitled to payment.

This may be on completion of a player transfer, execution of a contract, achievement of another contractual milestone or delivery of the relevant consultancy service.

Revenue is presented gross where the Company acts as principal and net of amounts payable to other parties where the Company acts as an agent.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

– 25% per annum straight line

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.6. Investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed for

impairment at each reporting date and any impairment losses or reversals of impairment losses are

recognised immediately in profit or loss.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Admira Partners UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.10. Employee Benefits

Short-term employee benefits are recognised as an expense in the period in which the related service is provided.

Contributions to defined-contribution pension schemes are recognised as an expense when they fall due.

2.11. Dividends

Dividends are recognised as liabilities when they have been properly authorised and are no longer at the discretion of the Company.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
Europe	22,035,945	12,698,151
North America	1,327,049	3,285,474
South America	1,061,932	1,852,898
Asia	2,694,507	-

	27,119,433	17,836,523

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	3,000	-

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Admira Partners UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Other pension costs	120,000	296,000

6. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

7. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	18,291	2,049
Dividends from other fixed asset investments - listed	384	-

	18,675	2,049

8. Interest Payable and Similar Charges

	2025	2024
	£	£
Foreign exchange charges	68,287	-
Late payment tax charges	1,144	1,983

	69,431	1,983

9. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	433,129	267,104


Total tax charge for the period			433,129	267,104

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	1,742,755	1,068,415

Tax on profit at 25% (UK standard rate)	435,689	267,104
Dividends from companies	(96 )	-
Revenue exempt from taxation	(2,464 )	-

Total tax charge for the period	433,129	267,104

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Admira Partners UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

10. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 September 2024	2,666
Disposals	(2,666 )

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	-

As at 1 September 2024	2,666

11. Investments

	Listed
	£
Cost or Valuation
As at 1 September 2024	580,482
Disposals	(427,573 )
Fair value adjustments	17,942

As at 31 August 2025	170,851

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	170,851

As at 1 September 2024	580,482

12. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,333,546	3,702,615
Prepayments and accrued income	150,272	211,801
Other debtors	5,210	11,344
Loan receivable from related party 1	530,000	530,000
Loan receivable from related party 2	1,119,291	274,839
VAT	-	93

	4,138,319	4,730,692
Due after more than one year
Loan receivable from related party 2 >1 year	350,000	-

	4,488,319	4,730,692

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Admira Partners UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

13. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,496,401	4,261,786
Corporation tax	3,993	55,863
Taxation and social security	29,943	-

	2,530,337	4,317,649

14. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
10,000 Ordinary Shares of £ 1 each	10,000	10,000

15. Financial Instruments

The company has the following financial instruments:

	2025	2024
	£	£
Financial assets
Financial assets measured at fair value through profit and loss	170,851	580,482
Financial assets that are debt Instruments measured at amortised cost	4,488,319	4,730,692

Financial liabilities
Financial liabilities measured at amortised cost	2,496,401	4,261,786

16. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	172,322	174,511

17. Related Party Disclosures

During the year, the Company advanced further funds to a company under common ownership and control. The loan balance outstanding at 31 August 2025 amounted to £1,469,291 (2024: £274,825).

The Company also has an existing loan receivable from another company under common ownership and control. The balance outstanding at 31 August 2025 was £530,000 (2024: £530,000).

The loans are unsecured and interest-free. With the exception of a loan of £350,000 which is contractually repayable on 31 October 2026, the loans have no fixed repayment date and are repayable at such time as may be agreed in writing between the parties.

18. Controlling Parties

The company's ultimate controlling party is Carolina Varela Martinez by virtue of her interest in the share capital of the company.

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