Audacity Partners Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Audacity Partners Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08131916 . The registered office is 73 Swaby Road, London, SW18 3PJ.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At 31 July 2026 the company had net liabilities of £959 (2025: £58,198). The company generated a profit before the release of related party creditors of £16,026 in the year (2025: £8,474) and had net current assets of £5,157 (2025: net current liabilities of £64,807).

The director has prepared forecasts covering at least twelve months from the date of approval of these financial statements. Those forecasts indicate that the company can meet its liabilities as they fall due, taking account of its existing banking arrangements and the director's intention to continue supporting the company if required. The director therefore considers it appropriate to prepare the financial statements on the going concern basis and has not identified any material uncertainty in this respect.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. 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:

Plant & Machinery

25% Straight Line

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Audacity Partners Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2026

2.5. 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.

2.6. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2025: 1)

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Audacity Partners Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2026

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 August 2025	21,304
Additions	1,486

As at 31 July 2026	22,790

Depreciation
As at 1 August 2025	17,125
Provided during the period	1,855

As at 31 July 2026	18,980

Net Book Value
As at 31 July 2026	3,810

As at 1 August 2025	4,179

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 August 2025	3,224

As at 31 July 2026	3,224

Provision
As at 1 August 2025	-

As at 31 July 2026	-

Net Book Value
As at 31 July 2026	3,224

As at 1 August 2025	3,224

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,119	24,343
Other debtors	8,909	4,936

	10,028	29,279

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Audacity Partners Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	3,070	47,389
Bank loans and overdrafts	11,483	11,008
Other creditors	-	36,164
Taxation and social security	4,708	-

	19,261	94,561

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	12,489	-

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 August 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 July 2026
	£	£	£	£	£
Mr Alfredo Trivino Ortiz	(36,164 )	37,609	-	-	1,445

The balance at 1 August 2025 included amounts previously owed to family members of the director, reclassified to the director's loan account as loans made to the director personally. The balance owed at 31 July 2026 is unsecured, interest free and repayable on demand.

11. Related Party Transactions

During the year, close family members of the director released the company from trade creditor balances of £45,300 (2025: £85,750) for no consideration, as described in note 12. At 31 July 2026 the company owed £nil to these related parties (2025: £45,300).

At 31 July 2026 the director owed the company £1,445 (2025: the company owed the director £36,164). Details are given in note 10.

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Audacity Partners Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2026

12. Exceptional Items

Between 2020 and 2024, close family members of the director provided genuine freelance creative and content services to the company during a period of financial pressure. The related fees were charged to cost of sales in those years and recorded as trade creditors, with substantial amounts remaining unpaid. The deferred payment of these amounts formed part of the financial and operational support provided to the company during its restructuring and recovery.

On 13 May 2026, two of those family members entered into a binding agreement with the company, executed by Deeds of Release on the same date, releasing the company in full from balances totalling £45,300. The release represented the final settlement of amounts arising from those previously provided services and has been recognised in this year as other operating income, within operating profit. No consideration was given or received.

In the prior year, three family members released balances totalling £85,750 under a binding agreement reached on 20 April 2025, subsequently formalised by Deeds of Release. Across the two financial years, related party creditor balances totalling £131,050 were therefore released. Following these releases, no balances remain owed to family members in respect of these services.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,810		4,179
Investments	5		3,224		3,224

			7,034		7,403
CURRENT ASSETS
Debtors	6	10,028		29,279
Cash at bank and in hand		14,390		475

		24,418		29,754
Creditors: Amounts Falling Due Within One Year	7	(19,261 )		(94,561 )

NET CURRENT ASSETS (LIABILITIES)			5,157		(64,807 )

TOTAL ASSETS LESS CURRENT LIABILITIES			12,191		(57,404 )

Creditors: Amounts Falling Due After More Than One Year	8		(12,489 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(661 )		(794 )

NET LIABILITIES			(959 )		(58,198 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			(960 )		(58,199 )

SHAREHOLDERS' FUNDS			(959)		(58,198)