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Registered number:
FOR THE YEAR ENDED 30 JUNE 2025
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COMPANY INFORMATION
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CONTENTS
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STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The directors present their strategic report for the year ended 30 June 2025 to reflect the Company’s refined strategic focus and business developments.
Got Capital Ltd is a specialist provider of tailored working capital solutions to small and medium-sized enterprises (SMEs) in the UK. The company leverages proprietary technology to assess and approve funding quickly, often within hours, helping businesses manage cash flow gaps and fuel growth. Got Capital primarily operates through direct digital channels and a partner-referral model, allowing it to reach a broad SME base efficiently.
Revenue is generated through funding charges, origination fees, and other ancillary services related to short-term funding products. Customer retention and risk-adjusted returns are central to the business model, underpinned by data-driven credit assessment and a strong focus on customer service. The company’s business model focuses on providing revenue-based financing to SMEs, advancing funds against anticipated receivables. Leveraging proprietary underwriting algorithms and banking integrations, the company performs automated risk assessments to evaluate creditworthiness efficiently. Its repayment structure is flexible, aligning collections with clients’ revenue to ensure sustainable repayment. This approach generates a recurring revenue stream, with fees and interest on advances creating a predictable and scalable income model. Got Capital’s strategy centres on driving technology-enabled growth, investing in fintech infrastructure to streamline applications, underwriting, and repayments. A customer-centric approach guides enhancements to the user experience through intuitive interfaces and transparent pricing. The company aims for market expansion, consolidating its presence in the UK while selectively exploring entry into other English-speaking markets. Additionally, a partnership ecosystem is being developed through collaborations with payment processors and digital platforms to integrate and extend its offerings. Objectives Key objectives for FY25 include • Increase funding disbursement volume by 20% year-over-year. • Expand the client base by 20%. • Maintain a loan default rate below 5%. • Improve operational efficiency via automation, aiming for a 15% reduction in processing time.
The business is subject to a range of risks and uncertainties:
Credit risk: Risk of customer defaulting due to inability to repay, mitigated through robust underwriting, data-driven risk models, daily repayment structures.
Market Risk: Arises from changes in economic conditions affecting SMEs, managed through sectoral diversification and prudent exposure limits. Regulatory Risk: Results from changes in UK financial regulation, addressed via regular compliance reviews and legal oversight. Liquidity Risk: The possibility of insufficient cash to meet obligations, reduced through diversified funding sources and contingency cash reserves. Technology Risk: Linked to system failures or cyber threats, mitigated by ongoing investment in cybersecurity
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
and disaster recovery planning.
Reputation Risk: Stems from negative public perception from poor customer outcomes, managed through transparent communication and customer support teams.
• Total funds disbursed in the FY2025: £37.0m (FY2024: £30.2m) - 22.5% increase.
• Total income in FY2025: £51.7m (FY2024: £43.6m) - 18.6% increase. • Net funding in FY2025: £14.6m (FY2024: £13.3m) - 9.8% increase. • Net profit in FY2025: £2.7m (FY2024: £1.8m) - 50.0% increase.
Got Capital employs a disciplined approach to financial risk management, overseen by senior management. Core components include:
1) Credit Risk Management: Got Capital leverages AI-based credit scoring models and real-time banking data integration to accurately assess client creditworthiness. Sector-specific exposure limits are applied to control concentration risk and ensure a balanced portfolio. 2) Liquidity Management: The company conducts regular stress testing and scenario planning to maintain sufficient liquidity. Revolving credit facilities with partner institutions provide additional flexibility and security in funding operations. 3) Interest Rate and Market Risk: Exposure to interest rate and market fluctuations is limited due to the short-term nature of customer funding, minimizing the impact of market volatility on the business. 4) Operational and Cyber Risk: Operational and cyber risks are mitigated through annual penetration testing, comprehensive staff training in data protection and anti-fraud measures, and implementation of security protocols aligned with ISO 27001 standards.
1) Environmental: As a digital-first business, Got Capital maintains a minimal environmental footprint. The company achieved a fully paperless office in Q2 2025 and implements remote work policies to reduce commuting-related emissions, reflecting its commitment to sustainable operations.
2) Social: Got Capital focuses on supporting SMEs and empowering local communities. To date, it has disbursed funding to over 1,800 small businesses, contributing to job retention and growth. The company also prioritises employee well-being, achieving a 95% staff retention rate, and fosters a highly diverse and inclusive workforce across race, gender, religion, and age. 3) Governance: Robust governance underpins the company’s operations, with board oversight including independent non-executive directors. A strong culture of internal and external audit, compliance, and risk management ensures transparency, accountability, and adherence to best practice standards.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
FY2025 was a year of robust growth and resilience for Got Capital Ltd. The business continues to scale sustainably while addressing evolving risks and regulatory challenges. Looking ahead, the company is well-positioned to deepen its market presence, enhance technological capabilities, and deliver meaningful impact for SME clients across the UK and beyond.
This report was approved by the board and signed on its behalf.
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DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The director presents his report and the financial statements for the year ended 30 June 2025.
The director who served during the year was:
The profit for the year, after taxation, amounted to £2,722,222 (2024 - £1,797,119).
Ordinary dividends of £92,099 (2024 - £120,466) were declared and paid during the year. The director do not recommend a final dividend.
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements 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;
∙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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He 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.
Other than the developments mentioned in the strategic report there are no significant future developments.
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DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
There have been no significant events affecting the Company since the year end.
Under section 487(2) of the Companies Act 2006, Sopher + Co LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOT CAPITAL LIMITED
We have audited the financial statements of Got Capital Limited (the 'Company') for the year ended 30 June 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
∙give a true and fair view of the state of the Company's affairs as at 30 June 2025 and of its profit 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.
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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 Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
The director is responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOT CAPITAL LIMITED (CONTINUED)
required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the 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 the Director's Report have been prepared in accordance with applicable legal requirements.
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.
As explained more fully in the Director's Responsibilities Statement set out on page 4, 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 determines 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 director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOT CAPITAL LIMITED (CONTINUED)
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 Auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the short term royalty financing sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
∙understanding the design of the Company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing correspondence with HMRC.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GOT CAPITAL LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 we are required to state to them in an Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
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STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 23 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
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STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
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ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Got Capital Limited is a private limited liability company registered in England and Wales with its business address at Aldgate Tower, 2 Leman Street, London, E1 8FA and its registered office at 5 Elstree Way, Elstree Gate, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company is to provide short-term royalty financing.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Functional and presentation currency
Transactions and balances
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Other debtors are measured at the transaction price.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like future income streams receivable and other debtors and creditors, loans from banks and amounts owed to and from related parties.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
There were no factors that may affect future tax charges.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
At the year end, the Company was owed £6,332 (2024 - £8,732) by the director of the Company. During the year, the Company paid dividends of £92,099 (2024 - £120,466) to the director.
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