Registration number: 11276314

SystemIQ Capital Limited

Company Information

Directors

J Stewart J M Oppenheim G Polk I Spazzapan P G Polman D P Fletcher

Registered office

Russell Square House 10-12 Russell Square London WC1B 5EH

Accountants

EVMS Partners LLP Chartered Accountants45 Ludgate Hill London EC4M 7JU

SystemIQ Capital Limited

(Registration number: 11276314)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	21,196	10,185
Current assets
Debtors	5	429,069	320,757
Cash at bank and in hand		2,049,444	2,228,323
		2,478,513	2,549,080
Creditors: Amounts falling due within one year	6	(370,854)	(592,335)
Net current assets		2,107,659	1,956,745
Total assets less current liabilities		2,128,855	1,966,930
Creditors: Amounts falling due after more than one year	6	(1,045,958)	(1,025,449)
Provisions for liabilities		(2,959)	(2,547)
Net assets		1,079,938	938,934
Capital and reserves
Called up share capital	7	52,725	60,725
Share premium reserve		283,737	283,737
Capital redemption reserve		26,300	18,300
Retained earnings		717,176	576,172
Shareholders' funds		1,079,938	938,934

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the 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:
 

......................................... J Stewart Director

SystemIQ Capital Limited

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

1	General information

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

The address of its registered office is: Russell Square House, 10-12 Russell Square, London, WC1B 5EH.

These financial statements were authorised for issue by the Board on 24 April 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Foreign currency transactions and balances

The Company's functional and presentational currency is £ Sterling.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Turnover

Turnover comprises advisory income and operating income, both of which are recognised in the accounting period during which the respective services are rendered.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Finance income and costs policy

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowings

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

SystemIQ Capital Limited

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

Defined contribution pension obligation

The Company contributes to a defined contribution plan 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.

Tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

•	The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

•	any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Computer equipment - 33%

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.

Trade debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

SystemIQ Capital Limited

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

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no
more than three months from the date of acquisition and that are readily convertible to known
amounts of cash with insignificant risk of change in value.

Trade creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other third parties, loans to related parties and investments in ordinary shares.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2024 - 13).

SystemIQ Capital Limited

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

4	Tangible assets

	Computer equipment £
Cost
At 1 January 2025	18,455
Additions	18,630
Disposals	(6,197)
At 31 December 2025	30,888
Depreciation
At 1 January 2025	8,270
Charge for the year	7,619
Eliminated on disposal	(6,197)
At 31 December 2025	9,692
Carrying amount
At 31 December 2025	21,196
At 31 December 2024	10,185

5

Debtors

Current	2025 £	2024 £
Trade debtors	190,971	198,014
Amounts owed by related parties	3,897	12,322
Prepayments	208,774	107,797
Other debtors	25,427	2,624
	429,069	320,757

SystemIQ Capital Limited

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

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	94,475	175,139
Taxation and social security	44,456	189,806
Accruals and deferred income	210,035	215,708
Other creditors	21,888	11,682
	370,854	592,335

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other loans	1,045,958	1,025,449

Other loans comprise fixed-rate, unsecured loan notes bearing interest at 2% per annum.

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A Ordinary Shares of £0.10 each	217,245	21,725	217,245	21,725
B Ordinary Shares of £0.10 each	310,000	31,000	390,000	39,000
	527,245	52,725	607,245	60,725

On 21 March 2025 the Company repurchased 80,000 B Ordinary shares of £0.10 each for aggregate consideration of £46,396. The shares were subsequently cancelled, leading to £8,000 being transferred from share capital to the capital redemption reserve.

The A Ordinary shares and B Ordinary shares rank pari passu in all respects.

8	Pension commitments

The Company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date the company owed £9,363 (2024: £82,082) to the pension fund.