REGISTERED NUMBER: OC345770 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

QUARTET CAPITAL PARTNERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

C.G. McInnes

T.S.H. Davies

REGISTERED OFFICE:

16 Water Lane

Richmond

Surrey

TW9 1TJ

REGISTERED NUMBER:

OC345770 (England and Wales)

AUDITORS:

Dafferns Audit Limited

Chartered Accountants

Statutory Auditor

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

FIXED ASSETS

Tangible assets

5

3,323

3,064

Investments

6

1,426,802

1,426,802

1,430,125

1,429,866

CURRENT ASSETS

Debtors

7

401,270

308,014

Cash at bank

281,053

369,060

682,323

677,074

CREDITORS

Amounts falling due within one year

8

204,542

194,223

NET CURRENT ASSETS

477,781

482,851

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,907,906

1,912,717

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

1,709,051

1,713,862

MEMBERS' OTHER INTERESTS

Capital accounts

619,800

619,800

Other reserves

11

(420,945

)

(420,945

)

1,907,906

1,912,717

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

1,709,051

1,713,862

Members' other interests

198,855

198,855

Amounts due from members

7

(32,400

)

(37,855

)

1,875,506

1,874,862

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 November 2026 and were signed by:

C.G. McInnes - Designated member

1.	STATUTORY INFORMATION

Quartet Capital Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises revenue recognised by the LLP in respect of services supplied during the year, exclusive of value added tax.

Tangible fixed assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Fixtures and fittings

-

33.33% on cost

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

Investments in associates

Investments in associates are entities over which the LLP has significant influence but not control. Significant influence is presumed when the LLP holds 20% or more of the voting power.

The LLP accounts for investments in associates in its financial statements using the cost model. Associates are initially recognised at cost, including any directly attributable transaction costs. Subsequently they are carried at cost less any accumulated impairment losses. The LLP does not adjust the carrying amount for its share of the associate's profits or losses.

At each reporting date, the LLP assess whether there is objective evidence that an investment in an associate is impaired.If such evidence exists, the LLp estimates the recoverable amount of the investment and recognises an impairment loss in profit or loss when the carrying amount exceeds the recoverable amount.

Financial instruments

Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other administrative expenses.

Other financial assets and liabilities, such as loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Going concern

The partnership has a satisfactory capital position and as a consequence the members believe that the company is well placed to manage its business risks successfully. The members believe that the LLP has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the members have adopted the going concern basis in preparing the financial statements.

Members' profit share

A member's share in the profit or the loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within "other reserves".

Taxation

The taxation payable on profits is the personal liability of members during the year.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2025 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 June 2025

4,734

58,030

62,764

Additions

-

2,215

2,215

At 31 May 2026

4,734

60,245

64,979

DEPRECIATION

At 1 June 2025

2,959

56,741

59,700

Charge for year

591

1,365

1,956

At 31 May 2026

3,550

58,106

61,656

NET BOOK VALUE

At 31 May 2026

1,184

2,139

3,323

At 31 May 2025

1,775

1,289

3,064

6.	INVESTMENTS

On 29 October 2024, Quartet Capital Partners LLP acquired 25% of Deft Holdings Limited (company number 09537006) for £1,350,000 funded by a capital injection by C.G. McInnes.

Deft Holdings Limited is incorporated in England and Wales with the registered office address being Preston Park House, South Road, Brighton, East Sussex, United Kingdom, BN1 6SB.

The carrying value of this investment in associate was initially recognised at cost £1,426,802, including legal fees incurred on acquisition.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

170,675

156,598

Amounts due from members

32,400

37,855

Other debtors

89,257

23,480

Prepayments and accrued income

108,938

90,081

401,270

308,014

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

96,098

57,067

Social security and other taxes

38,691

32,225

Other creditors

4,334

10,177

Accruals and deferred income

65,419

94,754

204,542

194,223

9.	LEASING AGREEMENTS

2026

2025

Within one year

97,000

97,000

Between one and five years

97,000

194,000

In more than five

194,000

291,000

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with other creditors who are unsecured. There is no protection afforded to creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the members.

The restrictions or limitations existing on the ability of the members to reduce the amount of 'Members' other interests' are those of the regulatory capital requirements of the FCA.

11.

RESERVES

Other

reserves

£

At 1 June 2025

(420,945

)

At 31 May 2026

(420,945

)

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

The Report of the Auditors was unqualified.

Geoffrey Cox BA FCA (Senior Statutory Auditor)

for and on behalf of Dafferns Audit Limited

13.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £194,000 (2025: £291,000)

14.	ULTIMATE CONTROLLING PARTY

The controlling party is C.G. McInnes.