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REGISTERED NUMBER: 09294557 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2026

for

CLEAR CAPITAL MARKETS LTD

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 5 |

| Statement of Comprehensive Income | 9 |

| Statement of Financial Position | 10 |

| Statement of Changes in Equity | 11 |

| Statement of Cash Flows | 12 |

| Notes to the Statement of Cash Flows | 13 |

| Notes to the Financial Statements | 14 |

| CLEAR CAPITAL MARKETS LTD |

Company Information

for the Year Ended 31 March 2026

| DIRECTORS: | B Roberts

| A P Blaylock

| D Pellard

| REGISTERED OFFICE: | 6th Floor

| Wilson's Corner

| 23-25 Wilson Street

| LONDON

| EC2M 2DD

| REGISTERED NUMBER: | 09294557 (England and Wales)

| AUDITORS: | BDA Associates Limited

| Statutory Auditor

| Chartered Accountants

| Global House

| 1 Ashley Avenue

| Epsom

| Surrey

| KT18 5AD

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Strategic Report

for the Year Ended 31 March 2026

The directors present their strategic report for the year ended 31 March 2026.

PRINCIPAL ACTIVITIES

Clear Capital Markets Limited is authorised and regulated by the Financial Conduct Authority and provides execution-only, advisory and discretionary investment services to retail, professional and institutional clients. The Company specialises in UK equity markets and also provides corporate broking, capital raising and related capital markets services.

REVIEW OF BUSINESS

The Company continued to strengthen its position during the year as an established participant within the UK small and mid-cap equity markets with turnover increasing by 79% to £6,424,421.

Throughout the period, management remained focused on enhancing the Company's operational infrastructure, governance framework, compliance capabilities and client proposition. These investments have further strengthened the business and positioned it to capitalise on future growth opportunities.

KEY PERFORMANCE INDICATORS

2026 2025

£,000 £,000

Turnover 6,424 3,585

Operating Profit 2,081 608

Net Assets 666 764

The Company maintains a diversified client base comprising retail, professional and corporate clients and benefits from long-standing client relationships, a highly experienced management team and a strong reputation within the market.

PRINCIPAL RISKS AND UNCERTAINTIES

As an FCA-regulated investment firm, the Company operates within a highly regulated environment and is subject to ongoing regulatory oversight. The directors continually monitor regulatory developments and maintain appropriate systems and controls to ensure compliance with applicable requirements.

The Company's financial performance may be influenced by market conditions, investor sentiment, trading volumes and capital markets activity. To mitigate these risks, the Company maintains a diversified revenue base, strong compliance culture, prudent financial management and an experienced management team.

LIQUIDITY RISK

Clear Capital Markets manages liquidity risk through careful monitoring of operational cash flows and by maintaining strong working relationships with its custodians. The company remains focused on ensuring adequate liquidity to meet all obligations as they fall due.

CREDIT RISK

Credit risk continues to be effectively managed and monitored by senior management, ensuring counterparties meet the firm's financial and operational standards.

COMPETITIVE RISK

The competitive and market environment is continuously assessed by management. The firm actively monitors sector trends and regulatory developments to maintain a competitive edge and deliver value to clients.

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Strategic Report

for the Year Ended 31 March 2026

DEVELOPMENTS DURING YEAR

The Company's strategy remains focused on growing its core stockbroking and corporate broking activities whilst continuing to expand its client base and assets under administration.

The directors believe the Company is well positioned to benefit from increasing investor participation in UK equities and ongoing demand for capital markets services. The business continues to pursue opportunities to broaden its service offering, strengthen strategic relationships and increase market share within its chosen sectors.

The Company remains committed to maintaining the highest standards of regulatory compliance, governance and client service, which the directors consider fundamental to the long-term success of the business.

DEVELOPMENTS AFTER YEAR-END

Following the year end, the Company experienced a significant increase in client activity, trading volumes and corporate finance opportunities, resulting in a substantial improvement in financial performance. The directors believe this momentum reflects the strength of the Company's client relationships, reputation within the market, experienced management team and enhanced operational and compliance framework.

The directors remain confident in the Company's prospects. The business enters the new financial year with a strengthened platform, growing levels of client engagement and a robust pipeline of opportunities across both broking and corporate finance activities.

The directors believe the Company is well placed to continue its growth trajectory and deliver long-term value for shareholders, clients and stakeholders.

ON BEHALF OF THE BOARD:

B Roberts - Director

26 June 2026

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Report of the Directors

for the Year Ended 31 March 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £17.20 per share.

The total distribution of dividends for the year ended 31 March 2026 will be £ 1,651,200 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

B Roberts

A P Blaylock

D Pellard

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

- | 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, BDA Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

B Roberts - Director

26 June 2026

Report of the Independent Auditors to the Members of

Clear Capital Markets Ltd

Opinion

We have audited the financial statements of Clear Capital Markets Ltd (the 'company') for the year ended 31 March 2026 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of 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 March 2026 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Clear Capital Markets Ltd

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 identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

Report of the Independent Auditors to the Members of

Clear Capital Markets Ltd

Auditors' 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 a Report of the Auditors 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud

and non-compliance with laws and regulations was as follows:

- 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, and from our commercial knowledge and experience of this company's particular sector;

- we focused on specific laws and regulations which we considered may have a material effect on the financial

statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection,

anti-bribery, employment and pensions legislation;

- we assessed the extent of compliance with the laws and regulations identified above though 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 the

instances of non-compliance throughout the audit.

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; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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, if any, were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which

included, but were not linked to:

- agreeing financial disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above, the more removed the laws and regulations are

from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also

limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and

other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve

deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Clear Capital Markets Ltd

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 a Report of the Auditors 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.

Mr Rajesh Amin (Senior Statutory Auditor)

for and on behalf of BDA Associates Limited

Statutory Auditor

Chartered Accountants

Global House

1 Ashley Avenue

Epsom

Surrey

KT18 5AD

28 June 2026

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Statement of Comprehensive

Income

for the Year Ended 31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

TURNOVER | 6,424,421 |  | 3,585,155 |  |

Cost of sales | (3,202,590 | ) | (1,916,307 | ) |

GROSS PROFIT | 3,221,831 |  | 1,668,848 |  |

Administrative expenses | (1,140,890 | ) | (1,060,061 | ) |

OPERATING PROFIT | 4 | 2,080,941 |  | 608,787 |  |

Interest receivable and similar income | 5 |  | - |  |

2,080,946 |  | 608,787 |  |

Interest payable and similar expenses | 5 | - |  | (3,352 | ) |

PROFIT BEFORE TAXATION | 2,080,946 |  | 605,435 |  |

Tax on profit | 6 | (527,712 | ) | (166,319 | ) |

PROFIT FOR THE FINANCIAL YEAR | 1,553,234 |  | 439,116 |  |

OTHER COMPREHENSIVE INCOME |

Listed investment revaluation | - |  | (1,810,138 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | - |  | (1,810,138 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,553,234 |  | (1,371,022 | ) |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Statement of Financial Position

31 March 2026

| 31.3.26 | 31.3.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 3,862 |  | 4,911 |  |

Investments | 9 | - |  | 35,000 |  |

3,862 |  | 39,911 |  |

CURRENT ASSETS

Debtors | 10 | 252,461 |  | 488,584 |  |

Cash at bank | 952,379 |  | 561,140 |  |

1,204,840 |  | 1,049,724 |  |

CREDITORS

Amounts falling due within one year | 11 | 541,365 |  | 324,196 |  |

NET CURRENT ASSETS | 663,475 |  | 725,528 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 667,337 |  | 765,439 |  |

PROVISIONS FOR LIABILITIES | 12 | 1,092 |  | 1,228 |  |

NET ASSETS | 666,245 |  | 764,211 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 96,000 |  | 96,000 |  |

Retained earnings | 14 | 570,245 |  | 668,211 |  |

SHAREHOLDERS' FUNDS | 666,245 |  | 764,211 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

B Roberts - Director

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Statement of Changes in Equity

for the Year Ended 31 March 2026

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 April 2024 | 96,000 |  | 754,095 |  | 1,810,138 |  | 2,660,233 |  |

Changes in equity

Dividends | - |  | (525,000 | ) | - |  | (525,000 | ) |

Total comprehensive income | - |  | 439,116 |  | (1,810,138 | ) | (1,371,022 | ) |

Balance at 31 March 2025 | 96,000 |  | 668,211 |  | - |  | 764,211 |  |

Changes in equity

Dividends | - |  | (1,651,200 | ) | - |  | (1,651,200 | ) |

Total comprehensive income | - |  | 1,553,234 |  | - |  | 1,553,234 |  |

Balance at 31 March 2026 | 96,000 |  | 570,245 |  | - |  | 666,245 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Statement of Cash Flows

for the Year Ended 31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,171,094 |  | 677,503 |  |

Interest paid | - |  | (3,352 | ) |

Tax paid | (162,537 | ) | (117,885 | ) |

Net cash from operating activities | 2,008,557 |  | 556,266 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | - |  | (2,892 | ) |

Sale of tangible fixed assets | - |  | 238 |  |

Sale of fixed asset investments | 35,000 |  | - |  |

Interest received | 5 |  | - |  |

Net cash from investing activities | 35,005 |  | (2,654 | ) |

Cash flows from financing activities

Loan repayments in year | - |  | (1,920 | ) |

Amount introduced by directors | 3,180 |  | 9,769 |  |

Amount withdrawn by directors | (4,303 | ) | - |  |

Listed investment revaluation | - |  | 9,862 |  |

Equity dividends paid | (1,651,200 | ) | (525,000 | ) |

Net cash from financing activities | (1,652,323 | ) | (507,289 | ) |

Increase in cash and cash equivalents | 391,239 |  | 46,323 |  |

Cash and cash equivalents at beginning of year | 2 | 561,140 |  | 514,817 |  |

Cash and cash equivalents at end of year | 2 | 952,379 |  | 561,140 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Statement of Cash Flows

for the Year Ended 31 March 2026

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.26 |  | 31.3.25

£ | £ |

| Profit before taxation | 2,080,946 |  | 605,435 |  |

| Depreciation charges | 1,049 |  | 752 |  |

| Loss on disposal of fixed assets | - |  | 38,366 |  |

| Finance costs | - |  | 3,352 |  |

| Finance income | (5 | ) | - |  |

2,081,990 |  | 647,905 |  |

| Decrease/(increase) in trade and other debtors | 236,123 |  | (77,065 | ) |

| (Decrease)/increase in trade and other creditors | (147,019 | ) | 106,663 |  |

| Cash generated from operations | 2,171,094 |  | 677,503 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 31 March 2026

| 31.3.26 |  | 1.4.25

£ | £ |

| Cash and cash equivalents | 952,379 |  | 561,140 |  |

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 561,140 |  | 514,817 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.25 | Cash flow | At 31.3.26

£ | £ | £ |

| Net cash |

| Cash at bank | 561,140 |  | 391,239 |  | 952,379 |  |

561,140 |  | 391,239 |  | 952,379 |  |

| Total | 561,140 |  | 391,239 |  | 952,379 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| Clear Capital Markets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Significant judgements and estimates

| In the process of applying its accounting policies, the company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented. On an ongoing basis, the company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on reducing balance

| 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 statement of financial position 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Going concern

| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore, accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

| Cash and cash equivalents

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

| Related parties

| Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transaction on the financial statements.

3. | EMPLOYEES AND DIRECTORS

| 31.3.26 |  | 31.3.25

£ | £ |

| Wages and salaries | 369,030 |  | 288,550 |  |

| Social security costs | 37,358 |  | 19,624 |  |

| Other pension costs | 4,785 |  | 4,070 |  |

411,173 |  | 312,244 |  |

| The average number of employees during the year was as follows:

| 31.3.26 |  | 31.3.25

| Selling and administration | 8 |  | 8 |  |

| 31.3.26 |  | 31.3.25

£ | £ |

| Directors' remuneration | 34,644 |  | 34,554 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.26 |  | 31.3.25

£ | £ |

| Depreciation - owned assets | 1,049 |  | 753 |  |

| Loss on disposal of fixed assets | - |  | 38,366 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank loan interest | - |  | 3,352 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.3.26 |  | 31.3.25

£ | £ |

| Current tax:

| UK corporation tax | 527,849 |  | 165,091 |  |

| Deferred tax | (137 | ) | 1,228 |  |

| Tax on profit | 527,712 |  | 166,319 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 31.3.26 |  | 31.3.25

£ | £ |

| Profit before tax | 2,080,946 |  | 605,435 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | 520,237 |  | 151,359 |  |

| Effects of:

| Expenses not deductible for tax purposes | 7,350 |  | 4,676 |  |

| Capital allowances in excess of depreciation | - |  | (535 | ) |

| Depreciation in excess of capital allowances | 262 |  | - |  |

| Deferred taxation | (137 | ) | 1,228 |  |

| Loss on disposal | - |  | 9,591 |  |

| Total tax charge | 527,712 |  | 166,319 |  |

| Tax effects relating to effects of other comprehensive income |

| There were no tax effects for the year ended 31 March 2026.

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

6. | TAXATION - continued

| 31.3.25 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Listed investment revaluation | (1,810,138 | ) | - |  | (1,810,138 | ) |

7. | DIVIDENDS

| 31.3.26 |  | 31.3.25

£ | £ |

| Ordinary shares of £1 each

| Final | 1,651,200 |  | 525,000 |  |

8. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 21,419 |  |

| DEPRECIATION

| At 1 April 2025 | 16,508 |  |

| Charge for year | 1,049 |  |

| At 31 March 2026 | 17,557 |  |

| NET BOOK VALUE

| At 31 March 2026 | 3,862 |  |

| At 31 March 2025 | 4,911 |  |

9. | FIXED ASSET INVESTMENTS

| Listed

| investments

£ |

| COST OR VALUATION

| At 1 April 2025 | 35,000 |  |

| Disposals | (35,000 | ) |

| At 31 March 2026 | - |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

| At 31 March 2025 | 35,000 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

9. | FIXED ASSET INVESTMENTS - continued

| Cost or valuation at 31 March 2026 is represented by:

| Listed |  | Unlisted |

| investments |  | investments |  | Totals

£ | £ | £ |

| Valuation in 2022 | - |  | 38,366 |  | 38,366 |  |

| Valuation in 2024 | 1,855,000 |  | - |  | 1,855,000 |  |

| Valuation in 2025 | (1,855,000 | ) | (38,366 | ) | (1,893,366 | ) |

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.26 |  | 31.3.25

£ | £ |

| Trade debtors | - |  | 3,738 |  |

| Other debtors | 58,589 |  | 79,773 |  |

| Prepayments and accrued income | 193,872 |  | 405,073 |  |

252,461 |  | 488,584 |  |

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.26 |  | 31.3.25

£ | £ |

| Tax | 530,402 |  | 165,091 |  |

| Social security and other taxes | - |  | 1,044 |  |

| Other creditors | 1,629 |  | - |  |

| Directors' current accounts | 9,334 |  | 10,457 |  |

| Accrued expenses | - |  | 147,604 |  |

541,365 |  | 324,196 |  |

12. | PROVISIONS FOR LIABILITIES

| 31.3.26 |  | 31.3.25

£ | £ |

| Deferred tax | 1,092 |  | 1,228 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2025 | 1,228 |  |

| decrease | (136 | ) |

| Balance at 31 March 2026 | 1,092 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.26 |  | 31.3.25

| value: | £ | £ |

| 96,000 | Ordinary | £1 | 96,000 |  | 96,000 |  |

CLEAR CAPITAL MARKETS LTD (REGISTERED NUMBER: 09294557) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

14. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | 668,211 |  |

| Profit for the year | 1,553,234 |  |

| Dividends | (1,651,200 | ) |

| At 31 March 2026 | 570,245 |  |