Capital Com Services Limited
Company Information
Capital Com Services Limited
Contents
Capital Com Services Limited
Director's report
For the year ended 31 December 2025
The Director presents his report and the financial statements for Capital Com Services Limited ('the Company') for the year ended 31 December 2025. The comparative information is for the period from incorporation on 10 November 2023 to 31 December 2024.
The Director is responsible for preparing the Director's report, the Strategic report and the financial statements, in accordance with applicable law.
Company law requires the Director to prepare financial statements for each financial year. Under that law he has elected to prepare the financial statements in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
Under company law the Director must not approve the financial statements unless he is 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 the financial statements, the Director is required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS Accounting Standards in conformity with the requirements of the Companies Act 2006, 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 he either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Additional matters included in the Strategic report
The Company has chosen, in accordance with s.414C(11) of the Companies Act 2006, to set out in the Strategic report information required by Schedule 7 of the Large and Medium-sized Companies (Accounts and Reports) Regulations 2008 to be contained in the Directors' report. It has done so in respect of risk exposure, future developments, and engagement with suppliers, customers and others.
The Company has chosen, in accordance with s.414C(11) of the Companies Act 2006, to set out in the Strategic report information required by Schedule 7 of the Large and Medium-sized Companies (Accounts and Reports) Regulations 2008 to be contained in the Directors' report. It has done so in respect of risk exposure, future developments, and engagement with suppliers, customers and others.
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Capital Com Services Limited
Director's report (continued)
For the year ended 31 December 2025
Going concern basis
The Director at the time of approving these financial statements believes that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and as such the Director has decided that the going concern basis is appropriate in preparing the financial statements.
The Director's assessment has considered future performance, solvency and liquidity over a period of at least 12 months from the date of approval of the Financial Statements. The Company is remunerated via service agreements with companies in the Capital Com Group ("the Group"). There are no indications that the Group will cease to provide financial support to the Company. The Company has no covenants in place with its banks that could result in borrowing being recalled, and there are strong controls around liquidity management to ensure sufficient funding levels are maintained.
The Director at the time of approving these financial statements believes that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and as such the Director has decided that the going concern basis is appropriate in preparing the financial statements.
The Director's assessment has considered future performance, solvency and liquidity over a period of at least 12 months from the date of approval of the Financial Statements. The Company is remunerated via service agreements with companies in the Capital Com Group ("the Group"). There are no indications that the Group will cease to provide financial support to the Company. The Company has no covenants in place with its banks that could result in borrowing being recalled, and there are strong controls around liquidity management to ensure sufficient funding levels are maintained.
The loss for the year, after taxation, amounted to £1,758,971 (2024 - profit £86,486). The company paid no dividends during the year (2024: £nil).
Charitable and Political Donations
During the year the Company made charitable donations totalling £307,955 (2024: £nil). No political donations were made during the year (2024: £nil).
Post balance sheet events
There are no post balance sheet events that require disclosure or adjustments in these financial statements.
Auditors
Buzzacott Audit LLP are appointed as auditors of the Company. In accordance with section 487 of the Companies Act 2006, the auditors will be deemed to be reappointed automatically.
Charitable and Political Donations
During the year the Company made charitable donations totalling £307,955 (2024: £nil). No political donations were made during the year (2024: £nil).
Post balance sheet events
There are no post balance sheet events that require disclosure or adjustments in these financial statements.
Auditors
Buzzacott Audit LLP are appointed as auditors of the Company. In accordance with section 487 of the Companies Act 2006, the auditors will be deemed to be reappointed automatically.
The Director who served during the year was:
This report was approved by the director on 9 July 2026 and signed by:
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Capital Com Services Limited
Strategic report
For the year ended 31 December 2025
The Director presents his Strategic Report for Capital Com Services Limited ('the Company') for the year ended
31 December 2025.
Principal activities
The principal activity of the Company is the provision of operational and ancillary support services to
regulated broking entities within the Capital.com Group (‘the Group’). These services are designed to facilitate
and enhance the Group's client-facing broking operations, which encompass a broad range of financial
instruments and trading products, including contracts for difference ("CFDs") and stockbroking. The Company
acts as a central service entity within the Group structure, delivering expertise and operational infrastructure that
enables Group broking entities to conduct their regulated activities efficiently and in accordance with applicable
legal and regulatory requirements. The Company did not itself hold any regulatory permissions to deal with
clients during the period under review.
The revenue of the Company for the year ended 31 December 2025 was £50,786,770 (2024:
£2,292,678) and its net loss was £1,758,971 (2024: profit of £86,486). As at 31 December 2025 the total
assets of the Company were £43,849,110 (2024: £1,764,943) and its net assets were negative
£1,671,485 (2024: positive £87,486).
The Company's Key Performance Indicators ("KPIs"), which management uses to assess and monitor the
business and its performance, are comprised mainly of overall profitability and total assets.
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Capital Com Services Limited
Strategic report (continued)
For the year ended 31 December 2025
The Company's activities expose it to a variety of financial, operational and commercial risks. Financial risks and
uncertainties are outlined in Note 6 of the financial statements. The principal non-financial risks and how they
are managed are described below.
Regulatory and Legal Risk
The Company does not hold regulatory permissions and does not deal directly with clients. However, as a
provider of services to regulated broking entities within the Capital.com Group, the Company is indirectly
exposed to changes in the regulatory environment in which those entities operate. This risk is mitigated through
regular monitoring of relevant regulatory developments and access to legal and compliance expertise within the
Group.
Operational Risk
This is the risk of loss resulting from failed or inadequate internal processes, people or systems. The Company
manages this risk through a control-based environment in which risk assessments are undertaken, processes
are documented and activities are monitored, with significant issues escalated to senior management as
required.
Group Dependency and Commercial Risk
The Company derives substantially all of its revenue from intra-group service arrangements with Capital.com
Group broking entities and is therefore exposed to the financial performance and strategic direction of those
entities. This risk is monitored through regular commercial reviews and management information reporting.
People Risk
The Company is reliant on retaining and developing skilled personnel. This risk is mitigated through competitive
remuneration, career development opportunities and succession planning.
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Capital Com Services Limited
Strategic report (continued)
For the year ended 31 December 2025
The Company intends to continue providing operational and ancillary support services to regulated
broking entities within the Group. The Director expects the Company to develop in line with the broader strategic
objectives of the Group, supporting its continued growth and expansion into new markets and products where
appropriate.
The Director is required under section 172 of the Companies Act 2006 to act in the way they consider, in good
faith, would be most likely to promote the success of the Company for the benefit of its members as a whole,
having regard to a number of broader matters including the long-term consequences of decisions, the interests
of employees, relationships with suppliers and other stakeholders, and the reputation of the Company.
The Director considers that they have discharged this duty throughout the year under review. As a service entity
operating within the Group, many of the key decisions affecting the Company are made in the
context of the broader Group governance framework, within which the Director is an active participant. In
exercising their duties, the Director has had regard to the following matters:
Long-term consequences of decisions
Decisions regarding the scope and delivery of services provided to Group entities have been made with regard to
the long-term sustainability of the Company and the broader success of the Group.
Employees
The Director has given consideration to the interests and wellbeing of the Company's employees, including in
respect of remuneration, development opportunities and working conditions.
Relationships with stakeholders
The Company's principal stakeholder relationships are with Group broking entities to whom it provides services.
The Director has maintained close engagement with those entities to ensure that services continue to meet their
operational needs. The Company also relies on a number of third-party vendors and suppliers in the delivery of
its services, and the Director has had regard to the importance of maintaining strong and collaborative
relationships with those suppliers to ensure continuity and quality of service.
Reputation and standards of conduct
The Director has sought to maintain high standards of conduct across the Company's operations, consistent with the values and compliance expectation of the Capital.com Group.
This report was approved by the director on 9 July 2026 and signed by:
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Independent auditor's report to the members of Capital Com Services Limited
For the year ended 31 December 2025
We have audited the financial statements of Capital Com Services Limited ('the Company') for the year ended 31 December 2025 which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of material accounting policies set out on pages 18 - 23. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
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 the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the 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 Director with respect to going concern are described in the relevant sections of this report.
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Independent auditor's report to the members of Capital Com Services Limited (continued)
For the year ended 31 December 2025
The other information comprises the information included in the Annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Annual report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report has been prepared in accordance with applicable legal requirements.
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 Director's report.
Responsibilities of directors
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Independent auditor's report to the members of Capital Com Services Limited (continued)
For the year ended 31 December 2025
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 or error, and to issue an auditor's report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
How the audit was considered capable of detecting irregularities including fraud
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:
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 Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulation, including knowledge specific to auditing regulated investment advisory firms;
∙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 regulated investment advisory firms;
∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to
misstatement, including with respect to fraud and non-compliance with laws and regulations; and
misstatement, including with respect to fraud and non-compliance with laws and regulations; and
∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including the Companies Act 2006, The Financial Services and Markets Act 2000, employment legislation and taxation legislation.
We assessed the extent of compliance with the laws and regulations identified above through:
∙making enquiries of management;
∙inspecting legal expenditure throughout the year for any potential litigation or claims; and
∙considering the internal controls in place that are designed 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:
∙determined the susceptibility of the company to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process;
∙reviewed journal entries throughout the year to identify unusual transactions; particularly in relation to expenditure;
∙performed analytical procedures to identify any large, unusual or unexpected transactions and investigated any large variances from the prior period;
∙reviewed accounting estimates and evaluated where judgements or decisions made by management indicated bias on the part of the company's management; and
∙carried out substantive testing to check the occurrence and cut-off of expenditure.
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Independent auditor's report to the members of Capital Com Services Limited (continued)
For the year ended 31 December 2025
Auditors' responsibilities for the audit of the financial statements (continued)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 auditor's 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 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.
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.
for and on behalf of
130 Wood Street
EC2V 6DL
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Capital Com Services Limited
Statement of comprehensive income
For the year ended 31 December 2025
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Capital Com Services Limited - Registered number: 15274245
Statement of financial position
As at 31 December 2025
The financial statements were approved and authorised for issue by the Director on 9 July 2026 and were signed by:
The notes on pages 14 to 36 form part of these financial statements.
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Capital Com Services Limited
Statement of changes in equity
For the year ended 31 December 2025
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Capital Com Services Limited
Statement of cash flows
For the year ended 31 December 2025
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Capital Com Services Limited
Statement of cash flows (continued)
For the year ended 31 December 2025
The notes on pages 14 to 36 form part of these financial statements.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Capital Com Services Limited (the 'Company') is a limited company incorporated in England and Wales with the registration number 15274245. The Company's registered office and principal place of business is at 2nd Floor, 4 Orchard Place, London, SW1H 0BF.
Its primary business activity is providing business support services to other group companies within the Group .
Details of the Company's accounting policies, including changes during the year, are included in note 4.
In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The areas where judgements and estimates have been made in preparing the financial statements and their effects are disclosed in note 5.
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Company impact - IFRS at transition date
IFRS has been adopted for the first time by the Company, with the effective date of transition being 1 January 2025. As the prior period was the Company's first period of account since incorporation, no opening balance comparatives are available.
The following table summarises the impacts of adopting IFRS accounting standards on the Company's financial statements as of 1 January 2025.
The Company has reviewed future standards, applicable from 1 January 2025 and onwards and do not consider any to have a material impact on the Company.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
2.Basis of preparation (continued)
The following tables summarise the impacts of adopting new accounting standards on the Company's financial statements.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
2.Basis of preparation (continued)
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
2.Basis of preparation (continued)
4.Accounting policies
The financial statements have been prepared in accordance with International Accounting Standards (IASs) as adopted by the UK, IFRIC Interpretations and the parts of the Companies Act 2006 applicable to companies reporting under IASs.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
4.Accounting policies (continued)
The financial statements are prepared on the historical cost basis, and the accounting policies set out below have been applied. The preparation of financial statements in conformity with IASs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies (see note 5).
The Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date these financial statements are authorised for issue, and they have been prepared on that basis.
The Company derives substantially all of its revenue from intra-group service agreements with other Capital.com Group entities and is reliant on their continued operation and financial performance. Cash flow forecasts for the 12-month period following approval reflect continued receipt of intra-group service fee income at levels consistent with current contractual arrangements, with no indications that any Group entity intends to reduce or withdraw those arrangements. The Company has no bank covenants or external financing conditions that could result in facilities being recalled.
The Company reported a net liability position of £1,671,485 as at 31 December 2025 (2024: net assets of £87,486) and a loss after tax of £1,758,971 for the year (2024: profit of £86,486). The net liability position is driven by lease liabilities of £24,898,404 recognised under IFRS 16, which exceed the corresponding right-of-use asset of £23,826,005 at 31 December 2025 because interest accreting on the liability in the early years of the lease outpaces straight-line depreciation on the asset. During the year the Company drew down £4,100,000 under a credit facility provided by a related group entity, of which £2,793,734 remained outstanding at 31 December 2025. This facility provides the Company with access to funding beyond its operating cash flows and supports the Director's assessment that adequate resources are available for the foreseeable future.
As disclosed in Note 2.2, the Company has adopted IFRS for the first time in the year ended 31 December 2025, with a transition date of 1 January 2025. The requirements of IFRS 1 (First-time Adoption of International Financial Reporting Standards) have been applied in preparing these financial statements. The Company has reviewed standards effective for periods beginning on or after 1 January 2025 and does not consider any to have a material impact beyond those already reflected in these financial statements.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
4.Accounting policies (continued)
Revenue is recognised in accordance with IFRS 15 (Revenue from Contracts with Customers) when, or as, performance obligations are satisfied. The Company identifies its contracts with customers, determines the performance obligations within those contracts, and allocates the transaction price accordingly.
The Company's revenue arises from the provision of operational and ancillary support services to regulated broking entities within the Capital.com Group under intra-group service agreements. These services are provided on a continuous basis over the contract term and revenue is therefore recognised over time, as the customer simultaneously receives and consumes the benefits of the services as they are performed.
The transaction price is determined by reference to the terms of each intra-group service agreement. Where the consideration is variable (for example, where fees are calculated by reference to volumes or other performance metrics of the receiving entity), revenue is recognised only to the extent that it is highly probable that a significant reversal of cumulative revenue will not occur when the uncertainty is resolved.
Revenue is recognised in the period in which the services are performed. Amounts billed but not yet recognised as revenue are deferred and presented as contract liabilities. Amounts earned but not yet billed are accrued and presented within trade and other receivables.
Interest income is recognised on a time-proportion basis using the effective interest method.
Interest expense and other borrowing costs are charged to statement of comprehensive income as incurred.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
4.Accounting policies (continued)
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
4.Accounting policies (continued)
Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computations of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary differences arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwill.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all of part of the asset to be recovered.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
4.Accounting policies (continued)
Depreciation is provided on all other items of property, plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following rates:
Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
Impairment of financial assets
The loss allowances for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation based on the Company's past history, existing market conditions as well as forward looking estimates at the end of each reporting period.
Going concern
The Director has exercised judgement in concluding that preparation on the going concern basis is appropriate, given the Company's net liability position and dependence on continued intra-group revenue. The key assumptions and sensitivities are described in Note 4.3.
The loss allowances for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation based on the Company's past history, existing market conditions as well as forward looking estimates at the end of each reporting period.
Going concern
The Director has exercised judgement in concluding that preparation on the going concern basis is appropriate, given the Company's net liability position and dependence on continued intra-group revenue. The key assumptions and sensitivities are described in Note 4.3.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Financial risk factors
The Company captures the different risks it is exposed to through its Risk Management Framework. This identifies, measures and mitigates potential risks, including financial risks; credit risk, liquidity risk, currency risk and capital risk inherent in its business model and arising from the products and services it offers to its clients. The risk management policies employed by the Company to manage these risks are summarised below:
6.1 Market Risk
Market risk is defined as the risk of loss arising from changes in market risk factors. The main market risk factors are foreign exchange rates and interest rates.
(i) Interest rate risk
The Company is exposed to interest rate risk arising from changes in interest rates paid or earned on assets and liabilities.
Sensitivity analysis has not been presented as the impact of possible market movements on the Company's revenue is considered to be immaterial.
(ii) Foreign exchange risk
Transactional currency exposures arise in the normal course of the Company's business activities where transactions are denominated in currencies other than the Company's functional currency.
The Company is exposed to foreign currency risk through monetary assets and liabilities arising from such transactions. Given the Company's net exposure to foreign exchange risk at the reporting date is considered to be immaterial sensitivity analysis has not been presented.
6.2 Credit risk
Credit risk arises from cash and cash equivalents and financial assets carried at amortised cost, deposits with banks and financial institutions as well as credit exposures to customers, including outstanding receivables.
(i) Risk management
For banks and financial institutions, only independently rated parties with a strong rating and credit profile are onboarded and necessary due diligence procedures are followed. Credit exposure is spread across well-established financial institutions and is monitored on an ongoing basis.
(ii) Impairment of financial assets
The Company has the following types of financial assets that are subject to the expected credit loss model:
The Company captures the different risks it is exposed to through its Risk Management Framework. This identifies, measures and mitigates potential risks, including financial risks; credit risk, liquidity risk, currency risk and capital risk inherent in its business model and arising from the products and services it offers to its clients. The risk management policies employed by the Company to manage these risks are summarised below:
6.1 Market Risk
Market risk is defined as the risk of loss arising from changes in market risk factors. The main market risk factors are foreign exchange rates and interest rates.
(i) Interest rate risk
The Company is exposed to interest rate risk arising from changes in interest rates paid or earned on assets and liabilities.
Sensitivity analysis has not been presented as the impact of possible market movements on the Company's revenue is considered to be immaterial.
(ii) Foreign exchange risk
Transactional currency exposures arise in the normal course of the Company's business activities where transactions are denominated in currencies other than the Company's functional currency.
The Company is exposed to foreign currency risk through monetary assets and liabilities arising from such transactions. Given the Company's net exposure to foreign exchange risk at the reporting date is considered to be immaterial sensitivity analysis has not been presented.
6.2 Credit risk
Credit risk arises from cash and cash equivalents and financial assets carried at amortised cost, deposits with banks and financial institutions as well as credit exposures to customers, including outstanding receivables.
(i) Risk management
For banks and financial institutions, only independently rated parties with a strong rating and credit profile are onboarded and necessary due diligence procedures are followed. Credit exposure is spread across well-established financial institutions and is monitored on an ongoing basis.
(ii) Impairment of financial assets
The Company has the following types of financial assets that are subject to the expected credit loss model:
∙trade and other receivables
∙cash and cash equivalents
∙funds deposited in financial institutions
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Trade receivables
The Company considers the probability of default upon initial recognition of each asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward-looking information.
Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the Company.
Over the term of the receivables, the Company accounts for its credit risk by appropriately providing for expected credit losses on a timely basis. In calculating the expected credit loss rates, the Company considers historical loss rates for each category of customers, and adjusts for forward looking macroeconomic data.
The Company has not provided for expected credit losses ('ECL') against receivables and cash and cash equivalents as these are deemed to be not material.
The table below shows an analysis of the Company's bank accounts by the credit rating of the bank in which they are held:
6.3 Liquidity risk
Although the Company has limited liquidity risk, due to intercompany revenue agreements, the Company monitors the liquidity needs of the firm on a constant basis day-to-day. The Company has procedures to ensure sufficient funds are met at all times and have incorporated an internal limit above the regulatory driven requirements.
The following tables detail the Company's remaining contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
6.4 Currency risk
Currency risk is the risk that the value of its assets fluctuate due to changes in foreign exchange rates. Currency risk arises when future commercial transactions and recognised assets and liabilities are denominated in a currency that is not the Company's measurement currency. This risk is minimal with relation to the Company's balance sheet items and relates to exposures primarily to US Dollar and Euro denominated assets. The Company's Management monitors the exchange rate fluctuations on a continuous basis and acts accordingly.
Page 26
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Page 27
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
9.Staff costs and average number of employees (continued)
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The monthly average number of persons, including the directors, employed by the Company during the year was
as follows:
as follows:
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Page 29
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Page 30
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
12.Tax expense (continued)
Changes in tax rates and factors affecting the future tax charges
There were no factors that may affect future tax charges.
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Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
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Page 32
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
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Page 33
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Page 34
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Retained earnings
Page 35
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
Details of transactions between the Company and its related parties are disclosed below.
also owed £
December 2025.
owed £
£
During the year, the Company earned £530,258 (2024: £nil) in relation to services provided to Capital
Com NEWCO Limited, a company under common control. The Company was owed £312,800 (2024: £nil) by Capital Com NEWCO Limited at 31 December 2025.
During the year, the Company earned £59,951 (2024: £nil) in relation to services provided to
CAPITAL GENERAL SERVICES LTD, a company under common control. The Company was owed £23,755 (2024: £nil) by CAPITAL GENERAL SERVICES LTD at 31 December 2025.
During the year, the Company earned £671,322 (2024: £nil) in relation to services provided to Capital
Com IP Limited, a company under common control. The Company was owed £294,492 (2024: £nil) by
Capital Com IP Limited at 31 December 2025.
During the year, the Company earned £80,172 (2024: £nil) in relation to services provided to CAPITAL VAULT HOLDING LTD, a company under common control.
During the year, the Company drew down on its facility with CAPITAL COM INVESTMENTS LIMITED totalling £2,793,734. The Company was charged interest of £42,501.
There were no capital commitments noted as at 31 December 2025 or 31 December 2024.
Page 36
Capital Com Services Limited
Notes to the financial statements
For the year ended 31 December 2025
There have been no significant events affecting the company since the year end.
The immediate parent undertaking of the Company as of 31 December 2025 was Capital Com Investments Limited whose registered address is Vasileiou Makedonos, 8, Kinnis Business Centre, 3rd floor, Limassol, 3040, Cyprus. The directors consider the ultimate controlling party to be Viktor Prokopenya .
Page 37