GRANULAR CAPITAL LTD

Company Registration Number:
11088063 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2025

Period of accounts

Start date: 01 January 2025

End date: 31 December 2025

GRANULAR CAPITAL LTD

Contents of the Financial Statements

for the Period Ended 31 December 2025

Balance sheet
Notes

GRANULAR CAPITAL LTD

Balance sheet

As at 31 December 2025


Notes
2025
2024


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,887 3,649
Investments:   0 0
Total fixed assets: 1,887 3,649
Current assets
Stocks: 0 0
Debtors: 4 232,633 281,127
Cash at bank and in hand: 506,147 509,050
Investments:   14,546 10,421
Total current assets: 753,326 800,598
Creditors: amounts falling due within one year: 5 (420,800) (472,980)
Net current assets (liabilities): 332,526 327,618
Total assets less current liabilities: 334,413 331,267
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 334,413 331,267
Capital and reserves
Called up share capital: 132,100 132,100
Share premium account: 14,900 14,900
Other reserves: 15,000 15,000
Profit and loss account: 172,413 169,267
Shareholders funds: 334,413 331,267

The notes form part of these financial statements

GRANULAR CAPITAL LTD

Balance sheet statements

For the year ending 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 April 2026
and signed on behalf of the board by:

Name: Darren Mirams
Status: Director

The notes form part of these financial statements

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

2. Employees

2025 2024
Average number of employees during the period 3 5

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

3. Tangible Assets

Total
Cost £
At 01 January 2025 28,432
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2025 28,432
Depreciation
At 01 January 2025 24,783
Charge for year 1,762
On disposals 0
Other adjustments 0
At 31 December 2025 26,545
Net book value
At 31 December 2025 1,887
At 31 December 2024 3,649

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

4. Debtors

2025 2024
££
Debtors due after more than one year: 0 0

Trade debtors include management fees receivable during the year £209,424 (2024: £252,739) and performance fee receivable of £Nil (2024: £Nil). No impairment loss recognised during the financial year (2024: £Nil)

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

5. Creditors: amounts falling due within one year note

Accrued expenses (£101,223), Corporation Tax payable (£319,577)

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

6. Financial commitments

As of 31 December 2025, the Company has the following minimum lease payments under cancellable operating lease. Mot later than 1 year £82,000, later than 1 year not later than 5 years £118,000

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

7. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: The Directors of the Company during the financial year had interest in transactions conducted within the Company. Renumeration in respect of the Directors was £302,181 in 2025 compared to £382,812 in 2024. Class A ordinary shares of nominal balance of £100 are held by Thiago Mordehachvili. Granular Capital Holdings subscribed for Class B Ordinary shares of nominal balance of £132,000 (2024: £132,000) where Thiago Mordehachvili is a Director of the Company and the ultimate beneficial owner of the Company
£
Balance at 01 January 2025 382,812
Balance at 31 December 2025 302,181

GRANULAR CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

8. Post balance sheet events

The Company declared to pay dividends of £100,000, £210,000, £185,000 and £150,000 on 19 January 2026, 23 February 2026, 23 March 2026 and 24 April 2026 respectively.