Company registration number 03074508 (England and Wales)
INVESTMENT SERVICES UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
INVESTMENT SERVICES UK LIMITED
COMPANY INFORMATION
Directors
R H Melwani
A H Melwani
Secretary
K A Melwani
Company number
03074508
Registered office
8 Wimpole Street
1st Floor
London
England
W1G 9SP
Auditor
Fisher, Sassoon & Marks
93 Gloucester Place
London
W1U 6JQ
INVESTMENT SERVICES UK LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 22
INVESTMENT SERVICES UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The results for the year and the financial position at the year end were considered satisfactory by the directors given the current trading conditions in Global Markets financial products.

Principal risks and uncertainties

As a service provider the directors consider that the key financial risk exposures faced by the company relate to credit risk and the need to maintain sufficient liquidity to satisfy regulatory capital requirements and working capital needs. The company does not take trade positions which expose it to material price risk nor does it have a material exposure to foreign exchange movements.

The company's financial risk management objectives are therefore to minimise the key financial risks through having clearly defined terms of business with counter parties and stringent credit control over transactions with them and regular monitoring of cash flow and management accounts to ensure regulatory capital requirements are not breached and the company maintains adequate working capital.

Development and performance

At the year end the company had net assets of £519,930 (2024: £475,679), inclusive of bank balances of £202,693(2024: £75,494).

Key performance indicators

The company's turnover decreased by 16.18% and administration expenses decreased by 1.14%. Key performance indicators were net profit ratio of 8.09% (2024: 17.36%) and a current asset ratio of 5.66% (2024: 4.35).

Directors statement of compliance with duty to promote the success of the company

The directors of the Company have acted in the way they consider, in good faith, would most likely promote the success of the company for the benefit of its shareholders, employees and customers as a whole. In doing so the directors have regarded (amongst other matters):

- the likely consequences of any decision in the long term,

- the interests of the Company's employees,

- the need to foster the Company's business relationships with customers and others,

- the desirability of the Company maintaining a reputation for high standards of business conduct, and

- the need to act fairly among shareholders, employees and customers of the Company.

The directors recognise that the shareholders of the Company are those who work, or have worked within the business. The Company is regulated by the Financial Conduct Authority (FCA) in the UK.

At each board meeting, directors receive reports on finance, risk and compliance matters. These assist the directors with ensuring that the Company is managed prudently and that the risks of non-compliance with legal or regulatory requirements are minimised. In this way, the assets of the Company are protected for the benefit of its shareholders and ensuring that the future prosperity of the Company and its reputation is safeguarded which benefits all stakeholders of the Company.

In particular, during the year, the directors discussed and agreed investment in new business opportunities that may, over time, enhance the profits of the Company and provide new markets and services that the Company can provide to clients and others.

INVESTMENT SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

On behalf of the board

R H Melwani
Director
10 April 2026
INVESTMENT SERVICES UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities
The principal activity of the company continued to be that of an arranger in financial instruments.
Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £28,304. The directors do not recommend payment of a final dividend.

Directors
The directors' interests in the shares of the company were as stated below.
R H Melwani
A H Melwani
Supplier payment policy

The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.

Financial instruments
Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the businesses.

Foreign currency risk
The company's principal foreign currency exposures arise from trading with overseas companies.
Credit risk
Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
Post reporting date events
There are no post balance sheet events to report.
Future developments
The company continues to expand its client base and is actively exploring new markets.
Auditor

The auditor, Fisher, Sassoon & Marks, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

INVESTMENT SERVICES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors 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 these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements 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 directors are 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. They are 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 to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R H Melwani
Director
10 April 2026
INVESTMENT SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INVESTMENT SERVICES UK LIMITED
- 5 -
Opinion

We have audited the financial statements of Investment Services UK Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 31 December 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.

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 directors' 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 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 directors are 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

INVESTMENT SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INVESTMENT SERVICES UK LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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 and returns; or

- certain disclosures of directors' 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 directors' r esponsibilities s tatement, the directors are 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 directors 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 directors are 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.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

- 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;

- 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 Financial Conduct Authority (FCA), Companies Act 2006, taxation legislation, data protection, anti-bribery, anti-money-laundering and employment ;

- 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.

INVESTMENT SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INVESTMENT SERVICES UK LIMITED (CONTINUED)
- 7 -

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 as set out in note 2 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 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.

Jonathan Marks (Senior Statutory Auditor)
For and on behalf of Fisher, Sassoon & Marks, Statutory Auditor
Chartered Accountants
93 Gloucester Place
London
W1U 6JQ
10 April 2026
INVESTMENT SERVICES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
897,383
1,070,586
Cost of sales
(73,393)
(104,605)
Gross profit
823,990
965,981
Administrative expenses
(705,164)
(713,280)
Operating profit
4
118,826
252,701
Interest payable and similar expenses
8
(2,254)
(2,174)
Profit before taxation
116,572
250,527
Tax on profit
9
(44,017)
(64,692)
Profit for the financial year
72,555
185,835

The profit and loss account has been prepared on the basis that all operations are continuing operations.

INVESTMENT SERVICES UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
24,349
21,945
Current assets
Debtors
12
418,119
532,979
Cash at bank and in hand
202,693
75,494
620,812
608,473
Creditors: amounts falling due within one year
13
(109,606)
(139,946)
Net current assets
511,206
468,527
Total assets less current liabilities
535,555
490,472
Creditors: amounts falling due after more than one year
14
(15,625)
(14,793)
Net assets
519,930
475,679
Capital and reserves
Called up share capital
17
100,000
100,000
Profit and loss reserves
18
419,930
375,679
Total equity
519,930
475,679
The financial statements were approved by the board of directors and authorised for issue on 10 April 2026 and are signed on its behalf by:
R H Melwani
A H Melwani
Director
Director
Company registration number 03074508 (England and Wales)
INVESTMENT SERVICES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100,000
234,844
334,844
Year ended 31 December 2024:
Profit and total comprehensive income
-
185,835
185,835
Dividends
10
-
(45,000)
(45,000)
Balance at 31 December 2024
100,000
375,679
475,679
Year ended 31 December 2025:
Profit and total comprehensive income
-
72,555
72,555
Dividends
10
-
(28,304)
(28,304)
Balance at 31 December 2025
100,000
419,930
519,930
INVESTMENT SERVICES UK LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
128,212
267,845
Interest paid
(2,254)
(2,174)
Income taxes paid
(72,827)
(67,916)
Net cash inflow from operating activities
53,131
197,755
Investing activities
Purchase of tangible fixed assets
(8,278)
-
0
Repayment of loans
125,560
(274,731)
Net cash generated from/(used in) investing activities
117,282
(274,731)
Financing activities
Payment of finance leases obligations
(14,910)
(14,910)
Dividends paid
(28,304)
(45,000)
Net cash used in financing activities
(43,214)
(59,910)
Net increase/(decrease) in cash and cash equivalents
127,199
(136,886)
Cash and cash equivalents at beginning of year
75,494
212,380
Cash and cash equivalents at end of year
202,693
75,494
INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Company information

Investment Services UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Wimpole Street, 1st Floor, London, England, W1G 9SP.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover represents fees receivable from undertaking introductory services and provision of broking services on a matched principle basis. and is recognised on a trade settlement basis.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
20% Straight line basis
Fixtures, fittings & equipment
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
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.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

The directors do not consider there to be any critical judgements or key sources of estimation uncertainty involved in the preparation of the Company's financial statements.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Advisory
272,411
336,025
Fee income
621,332
729,165
Other
3,640
5,396
897,383
1,070,586
2025
2024
£
£
Turnover analysed by geographical market
U.K.
897,383
1,070,586
INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(2,280)
(3,926)
Depreciation of tangible fixed assets
5,874
7,316
Operating lease charges
44,038
52,572
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
8,400
8,400
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Introductory brokers
2
2
Administration
5
5
Total
7
7

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
265,975
274,733
Social security costs
23,957
24,914
Pension costs
1,304
1,286
291,236
300,933
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
97,825
97,806
INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs
Interest on finance leases and hire purchase contracts
2,254
2,174
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
44,017
64,692

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

2025
2024
£
£
Profit before taxation
116,572
250,527
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
29,143
62,632
Tax effect of expenses that are not deductible in determining taxable profit
8,449
10,231
Permanent capital allowances in excess of depreciation
(1,712)
(36)
Other permanent differences
2
(8,135)
Under/(over) provided in prior years
8,135
-
0
Taxation charge for the year
44,017
64,692
10
Dividends
2025
2024
£
£
Interim paid
28,304
45,000
INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
11
Tangible fixed assets
Land and buildings Leasehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 January 2025
-
0
162,520
162,520
Additions
1,547
6,731
8,278
At 31 December 2025
1,547
169,251
170,798
Depreciation and impairment
At 1 January 2025
-
0
140,575
140,575
Depreciation charged in the year
103
5,771
5,874
At 31 December 2025
103
146,346
146,449
Carrying amount
At 31 December 2025
1,444
22,905
24,349
At 31 December 2024
-
0
21,945
21,945

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Fixtures, fittings & equipment
19,863
20,303
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
105,737
221,534
Other debtors
312,382
305,879
Prepayments and accrued income
-
0
5,566
418,119
532,979

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
15
-
0
15,742
Trade creditors
44,978
31,227
Corporation tax
35,882
64,692
Other taxation and social security
7,931
7,792
Accruals and deferred income
20,815
20,493
109,606
139,946
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
15
15,625
14,793
15
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
-
0
15,742
After more than one year
15,625
14,793
15,625
30,535
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
4,008
8,059
In two to five years
12,024
24,179
16,032
32,238
Less: future finance charges
(407)
(1,703)
15,625
30,535

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is four years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,304
1,286

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000

The company has one class of ordinary shares which carry no right to fixed income. Each share is entitled to one vote in any circumstances.

18
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
375,679
234,844
Adjusted balance
375,679
234,844
Profit for the year
72,555
185,835
Dividends declared and paid in the year
(28,304)
(45,000)
At the end of the year
419,930
375,679
19
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
67,500
21,905
Years 2-5
270,000
-
0
337,500
21,905

On 1 October 2025, the company entered into a new lease agreement for its office premises at 8 Wimpole Street, London, W1 G 9SP, for a term of fi ve years. There is an option to break clause after three years.

INVESTMENT SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
20
Events after the reporting date

Subsequent to the reporting date, the Company issued share capital amounting to £1 00,000 in April 2026.

As th is transaction occurred after the end of the reporting period, it has not been recognised in these financial statements.

21
Related party transactions

At the year end the directors owed the company £174,66 5 (20 24: £300,225). This amount was repaid post year end.

22
Ultimate controlling party

There is no ultimate controlling interest.

23
Cash generated from operations
2025
2024
£
£
Profit after taxation
72,555
185,835
Adjustments for:
Taxation charged
44,017
64,692
Finance costs
2,254
2,174
Depreciation and impairment of tangible fixed assets
5,874
7,316
Movements in working capital:
Increase in debtors
(10,700)
(12,214)
Increase in creditors
14,212
20,042
Cash generated from operations
128,212
267,845
24
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
75,494
127,199
202,693
Lease liabilities
(30,535)
14,910
(15,625)
44,959
142,109
187,068
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