Registration number: 10508987

eCapital Commercial Finance (South West) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

eCapital Commercial Finance (South West) Limited

Company Information

Directors

A Taylor D J Tilling L M Cleaver M Finn

Company secretary

Speafi Secretarial Limited

Registered office

Cube M4 Business Park Old Gloucester Road Bristol BS16 1FX

Auditors

Xeinadin Audit Limited Chartered Accountants Statutory AuditorsLeavesden Park 5 Hercules Way Watford Hertfordshire WD25 7GS

eCapital Commercial Finance (South West) Limited

(Registration number: 10508987)
Balance Sheet as at 31 December 2025

	Note	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	5		76,323		130,927
Tangible assets	6		23,022		23,788
			99,345		154,715
Current assets
Debtors	7	34,041,692		21,237,991
Cash at bank and in hand		1,874,572		1,892,924
		35,916,264		23,130,915
Creditors: Amounts falling due within one year	8	(31,495,025)		(20,029,441)
Net current assets			4,421,239		3,101,474
Total assets less current liabilities			4,520,584		3,256,189
Provisions for liabilities			(5,947)		(5,947)
Net assets			4,514,637		3,250,242
Capital and reserves
Called up share capital		1,199		1,199
Share premium reserve		1,583,803		1,583,803
Retained earnings		2,929,635		1,665,240
Shareholders' funds			4,514,637		3,250,242

These financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 April 2026 and signed on its behalf by:
 

......................................... A Taylor Director

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Optimum SME Finance Limited.

The address of its registered office is:
Cube M4 Business Park
Old Gloucester Road
Bristol
BS16 1FX

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is pound sterling £. The level of rounding is to the nearest one pound.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 28 April 2026 was Philp Cole FCA, who signed for and on behalf of Xeinadin Audit Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings, tools and equipment	2 - 5 years

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible assets	2-5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2024 - 35).

4	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	23,845	14,000
Other fees to auditors
All other assurance services	2,045	3,075

 

5	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2025	293,517	293,517
At 31 December 2025	293,517	293,517
Amortisation
At 1 January 2025	162,590	162,590
Amortisation charge	54,604	54,604
At 31 December 2025	217,194	217,194
Carrying amount
At 31 December 2025	76,323	76,323
At 31 December 2024	130,927	130,927

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

6	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2025	176,166	176,166
Additions	13,221	13,221
At 31 December 2025	189,387	189,387
Depreciation
At 1 January 2025	152,378	152,378
Charge for the year	13,987	13,987
At 31 December 2025	166,365	166,365
Carrying amount
At 31 December 2025	23,022	23,022
At 31 December 2024	23,788	23,788

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		33,531,947	20,952,508
Amounts owed by related parties	11	155,245	-
Prepayments		350,029	280,296
Other debtors		4,471	5,187
		34,041,692	21,237,991

8

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	25,785,031	18,683,337
Trade creditors		128,122	589,547
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	4,714,065	-
Taxation and social security		444,032	569,331
Accruals and deferred income		423,775	172,398
Other creditors		-	14,828
		31,495,025	20,029,441

eCapital Commercial Finance (South West) Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	25,785,031	18,683,337

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	87,240	80,270
Later than one year and not later than five years	70,219	82,685
	157,459	162,955

11	Related party transactions

Income and receivables from related parties

2025	Parent £
Amounts receivable from related party	155,245

Expenditure with and payables to related parties

2025	Other related parties £
Amounts payable to related party	4,714,065

12	Parent and ultimate parent undertaking

eCapital Commercial Finance Holdings UK Limited is the parent that produces consolidated financial statements, where these financial statements are consolidated. These are available from:

1 London Street
Reading
Berkshire
RG1 4PN

 The company's immediate parent is eCapital Commercial Finance Limited, incorporated in England and Wales.

 The ultimate parent is eCapital Finance Corp, incorporated in United States of America.