CAPULA LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. CAPULA LIMITED 2002-06-17 → present
2. INSTEM LIMITED 2000-02-01 → 2002-06-17
3. INSTEM COMPUTER SYSTEMS LIMITED 1983-05-06 → 2000-02-01
4. KRATOS COMPUTER SYSTEMS LIMITED 1981-12-31 → 1983-05-06
5. KRATOS INSTEM LIMITED 1979-12-31 → 1981-12-31
6. INSTEM LIMITED 1969-05-05 → 1979-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company made a profit in the year amounting to £3.8m and had net operating cash inflows during the year. As at 31 December 2025, the company had net current assets of £13.2m and net assets of £14.9m. The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.”

Significant events

• “The company has continued to invest in research and development (R&D) and concentrates on the development of new Operational Technology solutions for its customers and new markets. R&D activity during the period involved the development of several new infrastructure protection, digital and cyber offerings which are expected to make significant contributions to the continued growth of the business.”
• “The continued focus on the strategy and investment has enabled the company to bolster the strong foundation established over the last four years, with new contracts won in the year of £49.8m (2024: £61.7m). In each of the core market sectors there is a continuing strong pipeline of opportunities enabling the company to close the year with a strong closing order book of £51.7m (2024: £57.9m).”
• “On 12 November 2024, the Company executed a deed to unconditionally release and discharge a loan receivable of £19.2 million from its previous immediate parent Capula Group Limited.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +2.7%

  £54,709,000 → £56,194,000

• Cash

  -0.2%

  £10,667,000 → £10,643,000

• Net assets

  +5.9%

  £14,070,000 → £14,896,000

• Employees

  +15.1%

  370 → 426

• Operating profit

  +5.1%

  £4,395,000 → £4,617,000

• Profit before tax

  +4%

  £4,583,000 → £4,767,000

• Wages

  +15%

  £18,869,000 → £21,702,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers