Company registration number 06695582 (England and Wales)
CAPSTONE GLOBAL LIBRARY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
CAPSTONE GLOBAL LIBRARY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
CAPSTONE GLOBAL LIBRARY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
78,199
219,386
Debtors
6
270,346
381,129
Cash at bank and in hand
139,036
164,475
487,581
764,990
Creditors: amounts falling due within one year
7
(219,966)
(162,254)
Net current assets
267,615
602,736
Creditors: amounts falling due after more than one year
8
(1,349,061)
(1,114,721)
Net liabilities
(1,081,446)
(511,985)
Capital and reserves
Called up share capital
9
100
100
Other reserves
8,738,435
8,738,435
Profit and loss reserves
(9,819,981)
(9,250,520)
Total equity
(1,081,446)
(511,985)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 July 2026
Mr R Coughlan
Director
Company registration number 06695582 (England and Wales)
CAPSTONE GLOBAL LIBRARY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Capital contribution
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
100
8,738,435
(8,777,670)
(39,135)
Year ended 31 December 2024:
Loss for the year
-
-
(472,850)
(472,850)
Balance at 31 December 2024
100
8,738,435
(9,250,520)
(511,985)
Year ended 31 December 2025:
Loss for the year
-
-
(569,461)
(569,461)
Balance at 31 December 2025
100
8,738,435
(9,819,981)
(1,081,446)
CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Capstone Global Library Limited is a private company limited by shares incorporated in England and Wales. The registered office is Shaw Gibbs Limited, 264 Banbury Road, Oxford, OX2 7DY.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The 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 £1.

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

1.2
Going concern

The company is reliant on continued support from its parent company which has been demonstrated by a letter of support received from Coughlan Companies LLC, a company registered in the United States of America.true

After making enquires and considering the uncertainties, the director has a reasonable expectation that the company has adequate resource to continue in operational existence for the foreseeable future. The director has also considered the implications of the cost of living crisis and the war in Ukraine on the business and, whilst he accepts that the ongoing situations present a risk to the business, this is not considered to be an overall threat to its going concern status and therefore the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Revenue from the sale of books is recognised when the significant risks and rewards of ownership of the books have passed to the buyer (usually on dispatch of the books), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue in respect of services provided to Coughlan Companies LLC is calculated as attributable costs plus a mark up, as agreed between Capstone Global Library Limited and Coughlan Companies LLC.

1.4
Pre-publication costs

Publication costs include one time expenses associated with developing and producing new or revised book publications, which include editorial expenses, author fees, prepress, photograph expenses, title right charges, royalty fees and any other costs incurred up to completion of the publication. Pre-publication costs are amortised over a three-year period, which approximates the lives of the related book publications, using a straight line method, which approximates the estimated sales cycle of the related books.

Disposals represent pre-publication costs of titles which are no longer in print.

Amortisation charges in respect of pre-publication costs are accounted for as a direct cost of sale.

Costs incurred in the UK but relating to future US title revenue streams are charged to the intercompany account on a monthly basis.

CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Pre-publication costs
3 years straight line
1.5
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:

Equipment
3 - 10 years straight line

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.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on purchase costs on a FIFO basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
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.

1.8
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.

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.

CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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.

1.9
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.

1.10
Taxation

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

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.

1.11
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.

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.

1.12
Retirement benefits

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

1.13
Leases

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.

1.14
Foreign exchange

Assets, liabilities and transactions in foreign currencies are principally held between group companies and are translated into sterling at the rates agreed and fixed between group companies. The exchange rates agreed and fixed between the group companies are linked with published exchange rates. Exchange differences are taken into account in arriving at the operating profit.

1.15

Royalty advances

Advances of royalties to authors are included within trade debtors when the advance is paid, less any provision required to adjust the advance to its net realisable value.

CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.16

Product development allocations

The company does not incur any direct p roduct development spend on new publishing lines. Content is licensed from its US parent company on an Intercompany royalty basis.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock valuation and obsolescence

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on purchase costs on FIFO basis. Estimated selling price less costs to complete and sell, includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires estimates to be made, which include the forecasted customer demand, the promotional, competitive and economic environment as well as the ageing of stock. These variables are monitored by the director and a provision is in place to mitigate the relevant risks.

Returns provision

Returns provisions are accounted for where the company has committed to offer refunds on returns over a certain period. The director determine s the relevant provision by using the historic rate of returns for the relevant products.

Useful economic life of tangible fixed assets

The useful economic lives of tangible fixed assets have been derived from the judgement of the director, using his best estimate of the write-down period.

3
Employees

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

2025
2024
Number
Number
Total
10
12
CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
4
Intangible fixed assets
Pre-publication costs
£
Cost
At 1 January 2025
1,468
Disposals
(1,452)
At 31 December 2025
16
Amortisation and impairment
At 1 January 2025
1,468
Disposals
(1,452)
At 31 December 2025
16
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
5
Tangible fixed assets
Equipment
£
Cost
At 1 January 2025 and 31 December 2025
46,001
Depreciation and impairment
At 1 January 2025 and 31 December 2025
46,001
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
211,905
301,786
Other debtors
58,441
79,343
270,346
381,129
CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
48,179
40,787
Other creditors
171,787
121,467
219,966
162,254
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings
1,349,061
1,114,721
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Related party transactions

The company has taken advantage of the exemptions provided by section 33 under FRS102 not to disclose transactions and outstanding balances with its parent company and fellow wholly owned subsidiaries.

11
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, as follows:

2025
2024
£
£
Total commitments
-
0
1,101
12
Parent company

The immediate and ultimate parent company is Coughlan Companies LLC, a company registered in the United States of America. The registered office is 1710 Roe Crest Dr, North Mankato, MN 56003.

Capstone Global Library Limited is included in the consolidated financial statements of Coughlan Companies LLC which is the smallest group for which consolidated financial statements are prepared. These consolidated financial statements are available from its registered office at 1710 Roe Crest Dr, North Mankato, MN 56003.

CAPSTONE GLOBAL LIBRARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified.

Senior Statutory Auditor:
Samantha Daniels
Statutory Auditor:
Shaw Gibbs (Audit) Limited
Date of audit report:
13 July 2026
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