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

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 April 2026 was Sean Wiegand FCA, who signed for and on behalf of Lambert Chapman LLP.

Tax

CGiX Re-Write
This comprises capitalised costs incurred for the development of an enhanced version of CGiX, a software application for the calculation of capital gains and investment tax management. The anticipated useful life of the costs capitalised, is five years from the date of final development being 31 December 2018. This project was fully amortised.

What-If
Costs capitalised after 31 December 2018 are in respect of additional add-ons to enhance the current version of CGiX. In respect of the What-If application project, the anticipated useful life of the capitalised costs, is seven years from the final development date being October 2020, with amortisation commencing from January 2021. The costs are currently being amortised, until 31 December 2027.

Data Tools
Costs capitalised from July 2020 in respect of the Data Tools Event Utilities project had an anticipated useful life of seven years from the final development date being November 2021. No amortisation had been included until January 2022 when the project went live. The costs are currently being amortised, until 31 December 2028.

CGiX Enhancement
Post the Re-Write of CGiX, further enhancement were made to the current version of CGiX. The Enhancement also has a useful life of five years and development was complete as at 31 July 2021, no amortisation has been included for this project until after the go live date of 31 December 2021. The capitalised costs are currently being amortised, until 31 December 2026.

ESG - ETHiX
The company have developed a new standalone product called ETHiX, this application utilises modern web technology and is compatible with the client's office systems. The anticipated useful life of the costs capitalised, is five years from the date of final development being 28 February 2022. No amortisation has been included for this project until 1 July 2022 when the product was made available to the market. The costs were amortised until 31 December 2024 when the board decided the balance to be written off.

ORF Database/Tools
The company was developing a new system called Offshore Reporting Funds (ORF) Tools with the purpose of creating a Proof of Concept to transform the data team’s processes from manual to automated to avoid human error due to the complexity and bespoke nature. Due to the complexity and dependencies, the project was put on hold and absorbed by the significantly larger Master Securities Database (MSD) project. The costs capitalised in this project will be absorbed and amortised together with the MSD project following completion and go live.

Master Securities Database (MSD)
The company is currently developing a new platform to support market needs for Securities and related market event data based on the ISO20022 standards called MSD – Master Securities Database. This solution will source and standardise publicly available and commercially available data sources and consolidate them into a standardised ISO20022 data structure. This anticipated useful life of the costs capitalised is ten years and the initial Phase 1 live deployment is targeted for Q1 2027.

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents comprise current and deposit bank accounts.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary shares are classified as equity.

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.