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Registered number: 13181306 SOPRA STERIA FINANCIAL SERVICES LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
SOPRA STERIA FINANCIAL SERVICES LIMITED
CONTENTS
| Page
Company Information | 1
Directors' Report | 2 - 3
Independent Auditor's Report | 4 - 7
Statement of Comprehensive Income | 8
Statement of Financial Position | 9
Statement of Changes in Equity | 10
Notes to the Financial Statements | 11 - 21
SOPRA STERIA FINANCIAL SERVICES LIMITED
COMPANY INFORMATION
Directors | Mr R I McElroy
| Mr J N M Neilson
| Mr M R Gray
| Mr C A Wilson
Company secretary | Ms D H Curtis
Registered number | 13181306
Registered office | 6th Floor
| 1 Bartholomew Close
| London
| EC1A 7BL
Independent auditor | KPMG
| Chartered Accountants and Statutory Auditor
| The Soloist Building
| Lanyon Place
| Belfast
| BT1 3LP
Page 1
SOPRA STERIA FINANCIAL SERVICES LIMITED
DIRECTORS' REPORT FOR THE YEAR ENDED 31 DÉCEMBRE 2025 The Directors present their report and the financial statements for the year ended 31 December 2025.
Statement of Directors' responsibilities in respect of the Directors' Report and the financial statements
The Directors are responsible for preparing the Directors’ 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 they have elected to prepare the financial statements in accordance with FRS 101 'Reduced Disclosure Framework'. 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 year. In preparing the financial statements, the Directors are required to: ∙select suitable accounting policies and then apply them consistently; ∙make judgments and estimates that are reasonable and prudent; ∙state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙assess the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and ∙use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. 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 responsible for such internal controls as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.
Directors
The Directors who served during the year and to the date of this report were:
Mr R I McElroy
Mr J N M Neilson
Mr M R Gray
Mr C A Wilson
The Directors and Secretary who held office at 31 December 2025 had no interest or option to acquire an interest which exceeds 1% in the shares in, or debentures or loan stock of the Company or group companies, at any time during the year.
Political and charitable contributions
The Company made no disclosable donations nor incurred any political expenditure during the year. Page 2
SOPRA STERIA FINANCIAL SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DÉCEMBRE 2025
Disclosure of information to auditor
Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the Director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Auditor
Under section 487(2) of the Companies Act 2006, KPMG will be deemed to have been reappointed as auditor 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.
Small companies note
In preparing this report, the Directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006, including the exemption from preparing a Strategic Report. This report was approved by the board on 17 June 2026 and signed on its behalf.
Mr R I McElroy Director
Page 3
SOPRA STERIA FINANCIAL SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOPRA STERIA FINANCIAL SERVICES LIMITED Report on the audit of the financial statements Opinion We have audited the financial statements of Sopra Steria Financial Services Limited (the ‘Company’) for the year ended 31 December 2025 set out on pages 8 to 21 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and related notes, including the material accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is UK law and UK Accounting Standards, including FRS 101 “Reduced Disclosure Framework”. 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; ∙the financial statements have been properly prepared in accordance with FRS 101 “Reduced Disclosure Framework” issued by the UK's Financial Reporting Council; and ∙the financial statements 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 ethical requirements that are relevant to our audit of financial statements in the UK, including the Financial Reporting Council (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 The Directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”). In our evaluation of the Directors' conclusions, we considered the inherent risks to the Company’s business model and analysed how those risks might affect the Company’s financial resources or ability to continue operations over the going concern period. 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 the date 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. Page 4
SOPRA STERIA FINANCIAL SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOPRA STERIA FINANCIAL SERVICES LIMITED (CONTINUED) However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgments that were reasonable at the time they were made, the absence of reference to a material uncertainty in this auditor's report is not a guarantee that the Company will continue in operation. Detecting irregularities including fraud We identified the areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and risks of material misstatement due to fraud, using our understanding of the entity's industry, regulatory environment and other external factors and inquiry with the Directors. In addition, our risk assessment procedures included: inquiring with the Directors as to the Company’s policies and procedures regarding compliance with laws and regulations and prevention and detection of fraud; inquiring whether the Directors have knowledge of any actual or suspected non-compliance with laws or regulations or alleged fraud; inspecting the Company’s regulatory and legal correspondence; and reading Board minutes. We discussed identified laws and regulations, fraud risk factors and the need to remain alert among the audit team. The Company is subject to laws and regulations that directly affect the financial statements including companies and financial reporting legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items, including assessing the financial statement disclosures and agreeing them to supporting documentation when necessary. The Company, is not subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. Auditing standards limit the required audit procedures to identify non-compliance with these non-direct laws and regulations to inquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance. We assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. As required by auditing standards, we performed procedures to address the risk of management override of controls and the risk of fraudulent revenue recognition. We identified a fraud risk in relation to the Company’s percentage of completion revenue. In response to risk of fraud, we also performed procedures including: identifying journal entries to test based on risk criteria and comparing the identified entries to supporting documentation; evaluating the business purpose of significant unusual transactions; assessing significant accounting estimates for bias; and assessing the disclosures in the financial statements. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. Page 5
SOPRA STERIA FINANCIAL SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOPRA STERIA FINANCIAL SERVICES LIMITED (CONTINUED) Other information The Directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the Directors’ Report. The financial statements and our auditor’s report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work we have not identified material misstatements in the other information. Opinions on other matters prescribed by the Companies Act 2006 Based solely on our work on the other information undertaken during the course of the audit: ∙we have not identified material misstatements in the Directors' Report; ∙in our opinion, the information given in the Directors’ Report is consistent with the financial statements; ∙in our opinion, the Directors’ Report has been prepared in accordance with the Companies Act 2006. Matters on which we are required to report by exception Under the Companies Act 2006 we are required 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. We have nothing to report in these respects. Respective responsibilities and restrictions on use Responsibilities of Directors for the financial statements As explained more fully in the Directors’ Responsibilities Statement set out on page 2, the Directors are responsible for: the preparation of the financial statements including being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; 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 they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 6
SOPRA STERIA FINANCIAL SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOPRA STERIA FINANCIAL SERVICES LIMITED (CONTINUED) 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, other irregularities or error, and to issue an opinion in an auditor’s report. 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, other irregularities 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. A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities. The purpose of our audit work and to whom we owe our responsibilities Our 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. Sarah-Jayne Naughton (Senior statutory auditor) for and on behalf of KPMG Chartered Accountants and Statutory Auditor The Soloist Building Lanyon Place Belfast BT1 3LP 24 June 2026 Page 7
SOPRA STERIA FINANCIAL SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024
Note | £000 | £000
Turnover | 4 | 6,991 | 3,260
Administrative expenses |  | (6,996) | (6,210)
Share-based payments |  | (36) | (22)
Operating loss | 5 | (41) | (2,972)
Interest payable and similar expenses | 9 | (107) | (101)
Loss before tax |  | (148) | (3,073)
Tax credit on loss | 10 | 87 | 732
Loss for the financial year |  | (61) | (2,341)
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
There was no other comprehensive income for 2025 or 2024.
The notes on pages 11 to 21 form part of these financial statements.
Page 8
SOPRA STERIA FINANCIAL SERVICES LIMITED REGISTERED NUMBER:13181306
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £000 |  | £000
Fixed assets |  |  |  |  |
Intangible assets | 11 |  | 2,125 |  | 2,839
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 12 | 7,724 |  | 3,188 |
|  | 7,724 |  | 3,188 |
Creditors: amounts falling due within one year | 13 | (6,947) |  | (3,984) |
Net current assets/(liabilities) |  |  | 777 |  | (796)
Total assets less current liabilities |  |  | 2,902 |  | 2,043
Deferred taxation liability | 14 | (593) |  | (709) |
|  |  | (593) |  | (709)
Net assets |  |  | 2,309 |  | 1,334
Capital and reserves |  |  |  |  |
Called up share capital | 15 |  | 8,505 |  | 7,505
Other reserves | 16 |  | 7,606 |  | 7,606
Retained losses |  |  | (13,802) |  | (13,777)
Shareholder's funds |  |  | 2,309 |  | 1,334
The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 June 2026.
Mr R I McElroy
Director
The notes on pages 11 to 21 form part of these financial statements. Page 9
SOPRA STERIA FINANCIAL SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital (note 15) | Other reserves (note 16) | Retained losses | Total equity
| £000 | £000 | £000 | £000
At 1 janvier 2024 | 7,505 | 7,606 | (11,459) | 3,652
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (2,341) | (2,341)
Total comprehensive income for the year | - | - | (2,341) | (2,341)
Share-based payments | - | - | 23 | 23
At 1 janvier 2025 | 7,505 | 7,606 | (13,777) | 1,334
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (61) | (61)
Total comprehensive income for the year | - | - | (61) | (61)
Shares issued during the year | 1,000 | - | - | 1,000
Share-based payments | - | - | 36 | 36
At 31 décembre 2025 | 8,505 | 7,606 | (13,802) | 2,309
| The notes on pages 11 to 21 form part of these financial statements.
Page 10
SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025
1. | General information
The Company is a private company limited by shares, registered in England and Wales. The registered office is 6th Floor, 1 Bartholomew Close, London, EC1A 7BL. The principal activity of the Company is the provision of debt management services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' (FRS 101) and the Companies Act 2006. The Company's functional and presentational currency is Pounds Sterling and amounts are presented in round thousands (£000). The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been consistently applied to all the years presented, unless otherwise stated:
| 2.2 | Financial reporting standard 101 - reduced disclosure exemptions
In preparing these financial statements the Company has applied the exemptions available under FRS101 in respect of the following disclosures. Therefore these financial statements do not include: •certain comparative information as otherwise required by UK-adopted International Accounting Standards; •certain disclosures regarding the Company's capital; •certain disclosures regarding the Company's revenue; •certain disclosures regarding the Company's leases; •a statement of cash flows and related notes; •the effect of future accounting standards not yet adopted; •the disclosure of the remuneration of key management personnel; and •disclosure of related party transactions with other wholly owned members of the group headed by Sopra Steria Group S.A. In addition, and in accordance with FRS 101, further disclosure exemptions have been adopted because equivalent disclosures are included in the consolidated financial statements of Sopra Steria Group S.A. These financial statements do not include certain disclosures in respect of: •Share-based payments; •Financial Instruments (other than certain disclosures required as a result of recording financial instruments at fair value); •Certain disclosures required by IAS 12 Income Taxes in respect of Pillar Two income taxes; •Fair value measurement as required by IFRS 13 and IFRS 7; and •The impairment of goodwill and indefinite life intangible assets, as required by IAS 36. The financial statements of Sopra Steria Group S.A can be obtained as described in note 18. Page 11
SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 2.Accounting policies (continued)
| 2.3 | Going concern
The Directors are satisfied that the Company has adequate resources for its foreseeable needs given current budget and forecasts, support from its immediate parent company, availability of liquid resources and current loan facilities. For this reason, the Directors have concluded that there are no material uncertainties in adopting the going concern basis in preparing the financial statements.
| 2.4 | Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rendering of services Revenue from providing services is recognised in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. If the contract is based on a daily fee, revenue is recognised in the amount to which the Company has a right to invoice. Customers are invoiced on a monthly basis.
| 2.5 | Interest payable
Interest payable and similar expenses includes interest payable on group loans which are charged to profit or loss as it accrues, using the effective interest method.
| 2.6 | Pensions
Defined contribution pension plan The Company operates 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. Page 12
SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 2.Accounting policies (continued)
| 2.7 | Share-based payments
The Company participates in an employee share scheme in which the Company receives services from employees as consideration for equity instruments (options) of Sopra Steria S.A. Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period with a corresponding credit to retained earnings. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). The Company's share-based payment arrangements are entirely equity-settled. Sopra Steria Group S.A. and various related trusts are obligated for the settlement of the shares.
| 2.8 | Current and deferred taxation
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. Page 13
SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 2.Accounting policies (continued)
| 2.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised in administrative expenses in the Statement of Comprehensive Income where the carrying amount exceeds the recoverable amount. Amortisation is provided on intangible fixed assets so as to write off cost less residual value over their anticipated useful lives on a straight-line basis. This amortisation is charged to administrative expenses in the Statement of Comprehensive Income. The estimated useful lives range as follows:
|  |  |  | Customer relationships and other intangible assets |  |  | 4 to 6 years
|  |  |  | Computer software |  |  | 5 years
| 2.10 | Impairment of intangible assets
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is an indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are tested individually. Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.
| 2.11 | 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.
| 2.12 | Creditors
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Page 14
SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 2.1, the Directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgments and estimations that the Directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. The main areas of uncertainty and estimation relate to the following: Intangible assets Valuation of intangible fixed assets (note 11): The intangible assets include customer relationships that arose from the purchase of business from a fellow subsidiary company. The valuation required estimates of future profitability, due to the earn-out payment which is to be made for this business, as well as judgment on the revenues and profits to be made from the customers and contracts transferred. Further judgment is required around the future economic life of the assets acquired.
4. | Turnover
The whole of the turnover is attributable to debt management and other related services and arose in the United Kingdom.
5. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Amortisation of intangible fixed assets | 714 | 604
6. | Auditor's remuneration
| During the year, the Company obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Auditors' remuneration | 8 | 7
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025
7. | Employees
| The average monthly number of employees, including the Directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Operations | 30 | 19
|  | Administration | 3 | 3
|  |  | 33 | 22
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Directors' emoluments | 484 | 422
| The highest paid Director received remuneration of £454 thousand (2024: £392 thousand).
| During the year 1 Director received shares under a long-term incentive scheme in respect of services provided to the Company (2024: 1).
| J N M Neilson is also a Director of other Sopra Steria Group companies in the United Kingdom. The Directors do not believe that it is practicable to apportion his remuneration between his services as Director of the Company and his services as Director of other Sopra Steria Group companies. His remuneration is disclosed in the accounts of Sopra Steria Limited.
9. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Loans from group undertakings | 107 | 101
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Corporation tax |  |
| Current tax on profits for the year | 149 | (871)
| Adjustments in respect of previous periods | (120) | (826)
| Total current tax credit | 29 | (1,697)
| Deferred tax |  |
| Deferred tax - current year | (179) | 56
| Deferred tax - prior year | 63 | 909
| Total deferred tax | (116) | 965
| Tax credit on loss | (87) | (732)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25% (2024: 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Loss on ordinary activities before tax | (148) | (3,073)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%) | (37) | (768)
| Effects of: |  |
| Other expenses not deductible for tax purposes | 9 | 24
| Share-based payments | 9 | 5
| Adjustments to tax charge in respect of prior periods | (57) | 83
| Research and development tax credits | (11) | (76)
| Total tax credit for the year | (87) | (732)
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 10.Taxation (continued)
| Factors that may affect future tax charges
The deferred tax balances recognised in the financial statements have been calculated using tax rates that were enacted or substantively enacted at the balance sheet date. Changes in the timing of the reversal of temporary differences, or future changes in tax legislation, could affect the amount of tax charged in future periods.
11. | Intangible assets
|  | Computer software | Customer relationships and other intangible assets | Total
|  | £000 | £000 | £000
| Cost |  |  |
| At 1 January 2025 | 4,466 | 1,280 | 5,746
| At 31 décembre 2025 | 4,466 | 1,280 | 5,746
| Amortisation |  |  |
| At 1 January 2025 | 1,757 | 1,150 | 2,907
| Charge for the year on owned assets | 658 | 56 | 714
| At 31 décembre 2025 | 2,415 | 1,206 | 3,621
| Net book value |  |  |
| At 31 décembre 2025 | 2,051 | 74 | 2,125
| At 31 décembre 2024 | 2,709 | 130 | 2,839
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 11.Intangible assets (continued)
| The individual intangible assets which are material to the financial statements are as follows:
|  | Net book value | Remaining amortisation period (years)
|  | 2025 | 2024 | 2025 | 2024
|  | £000 | £000 |  |
| Computer software |  |  |  |
| Debt management platform | 1,455 | 1,940 | 3 | 4
12. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Due within one year |  |
| Trade debtors | 24 | 5
| Amounts owed by group undertakings | 6,969 | 619
| Other debtors | - | 8
| Prepayments and accrued income | 125 | 231
| Amounts recoverable on long-term contracts | 606 | 517
| Tax recoverable | - | 1,808
|  | 7,724 | 3,188
| Amounts owed by group undertakings relate to trading balances. These are unsecured, do not bear interest and are payable on demand. Amounts recoverable on long-term contracts represent cost, deferred in accordance with IFRS 15, where the related performance obligation is incomplete.
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025
13. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Trade creditors | 209 | -
| Amounts owed to group undertakings | 1,073 | 1,808
| Corporation tax | 2 | -
| Other taxation and social security | 1,166 | 88
| Other creditors | 1 | 2
| Accruals and deferred income | 4,496 | 2,086
|  | 6,947 | 3,984
| Amounts owed to group undertakings relate to loans and trading balances. These are all unsecured. No interest is charged on short-term trading balances and these are repayable on demand. The loan is repayable within 10 days of request by the lender and attracts interest at 1.5% above the Bank of England base rate.
14. | Deferred taxation
|  | 2025
|  | £000
| At beginning of year | (709)
| Debited to profit or loss | 116
| At end of year | (593)
| The deferred tax liability is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
| Accelerated capital allowances | (593) | (709)
15. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £000 | £000
|  | Allotted, called up and fully paid |  |
|  | 8,505,000 (2024: 7,505,000) Ordinary shares of £1.00 each | 8,505 | 7,505
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SOPRA STERIA FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÉCEMBRE 2025 15.Share capital (continued) During the year, the Company issued 1,000,000 ordinary £1 shares at par value.
16. | Reserves
Other reserves During 2022, the Company's immediate holding company injected capital of £2.5 million and waived a loan of £5.1 million leading to the creation of a capital contribution reserve.
17. | Pension commitments
The pension cost represents contributions payable by the Company to the plan and amounted to £153 thousand (2024: £148 thousand). There are no contributions payable to the fund by the Company at the reporting date, as these are settled by the immediate parent company who manages all payroll payments.
18. | Controlling party
The Company's immediate holding company is Sopra Steria Limited, a company registered in England and Wales. The Company's ultimate holding company at the end of the reporting period is Sopra Steria Group S.A., a company registered in France and listed on the Euronext stock exchange. Sopra Steria Group S.A. has included the Company and its immediate holding company in its group accounts, copies of which may be obtained from Sopra Steria Group S.A., PAE les Glaisins, 74940 Annecy-le-Vieux, France. They are also available on the Sopra Steria Group website at www.soprasteria.com. The smallest and largest group in which the results of the Company are consolidated is Sopra Steria Group S.A., a company incorporated in France. In these accounts "Group" refers to the group of companies of which Sopra Steria Group S.A. is the ultimate holding company.
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