# Capitalixe original filings and director overlap

Prepared 5 November 2026. Case SP-GTS-001. The requester has confirmed **CAPITALIXE LTD, 11853977** as the original business.

## Result

The original Capitalixe incorporation allocates **one ordinary GBP 1 share to Lissele Pratt and one to Ivan Kovachev**, out of two shares with the same stated rights. That is an equal **initial allotment**, not a finding about current beneficial ownership. The same incorporation document's PSC sections nevertheless state that each holds more than 50% but less than 75% of the shares and votes. The inconsistency therefore exists within the original filing as well as the current PSC webpage. It must not be silently reconciled or treated as proof of wrongdoing.

The latest publicly filed accounts name **Ivan Kovachev as director** on the page recording board approval and signature on its behalf on **5 January 2026**. This supplies a dated original-company document during the period of his listed GTS appointment. It does not establish prohibited competition, trading by GTS, or who personally submitted either company's electronic filings.

## Document findings

### CF-01 - Documented initial share allocation

Capitalixe's [original incorporation document](sources/capitalixe-filings/incorporation.pdf), PDF pp. 5-6, records two ordinary shares with nominal value GBP 1 each and allocates one to each founder. The rights on p. 5 describe one vote per share and the same dividend/capital-distribution rights. Page 13 names both subscribers on a memorandum dated 27 February 2019. The certificate on p. 1 records incorporation on 1 March 2019; the application on p. 2 records receipt on 28 February 2019. These are different document events, not inconsistent incorporation dates.

**Limit:** This establishes the filed allocation at formation. A current share register, transfers and any arrangements affecting beneficial control remain necessary to establish ownership at later dates.

### CF-02 - The PSC ambiguity is in the original filing

PDF pp. 8-9 name Lissele and state the more-than-50%-but-less-than-75% shares/votes bands. PDF pp. 10-11 do the same for Ivan, adding a majority-director appointment/removal right. Those entries do not fit the straightforward two equal ordinary-share allotment disclosed on pp. 5-6 without some further explanation or correction.

**Limit:** No explanation for the mismatch was established in this branch. Do not infer an undisclosed agreement, deliberate misstatement, current 50/50 ownership or a particular legal consequence. The source records need to be reconciled against the company's registers and underlying instructions. Preserve both parts of the filing as found.

### CF-03 - Dated director representation during the GTS period

The [accounts for the year ended 31 March 2025](sources/capitalixe-filings/accounts-2025.pdf), PDF p. 3 / printed p. 2, record that the board approved and authorised the statements for issue and that they were signed on its behalf on **5 January 2026**. The page names **Ivan Kovachev, Director**. The official filing index dates this accounts filing to **22 January 2026**.

This is consistent with the Capitalixe officer register's ongoing director listing and falls after GTS's 20 August 2024 incorporation and before the GTS DS01 authorisation dated 19 February 2026.

**Limit:** The filed accounts contain a printed name and a signature statement; this is not independent authentication of the human who approved, signed or uploaded them. Parallel appointments are not themselves a finding of a breach of duties.

### CF-04 - Share capital at the accounts date

Accounts PDF p. 8 / printed p. 7, note 8, records two fully paid ordinary GBP 1 shares for 2025 and the comparative 2024 period. It does **not** name their holders. This supports the nominal-capital baseline at those accounts dates but does not resolve the PSC-band discrepancy or establish ownership immediately before dissolution of GTS.

### CF-05 - The public accounts do not establish a GTS transaction

The nine-page public accounts comprise a cover, statement of financial position, approval page and notes. No named GTS, Impact or Kovacheva counterparty or specific related-party transaction was identified in the reviewed pages. The accounts say the company opted not to file the statement of income and retained earnings. The aggregate balance-sheet figures therefore cannot establish revenue diversion, customer overlap or the identity of a trading counterparty.

**Limit:** This is a bounded review of a public filing. It is not evidence that no related transactions existed. The underlying ledgers, invoices, bank records and contracts were not available. Generic accounting-policy language is not a reliable description of the company's actual service delivery.

### CF-06 - Confirmation statement date precision

The [2025 CS01](sources/capitalixe-filings/cs01-2025.pdf), p. 1, gives statement date **15 February 2025** and electronic receipt **28 February 2025**, matching the index date. The [2026 CS01](sources/capitalixe-filings/cs01-2026.pdf), p. 1, gives statement date **15 February 2026** and electronic receipt **3 March 2026**, whereas the official index dates the filing **4 March 2026**. Preserve all three fields for 2026 rather than replacing one with another.

Both three-page statements use generic authorisation wording and identify no individual signatory in the reviewed text. Neither supplies an updated shareholder allocation or resolves the original PSC discrepancy.

## Comparison with GTS

| Question | Capitalixe original records | GTS original records, reviewed by the corporate branch | Implication and limit |
| --- | --- | --- | --- |
| Initial shares | Two ordinary GBP 1 shares; one each to Lissele and Ivan | One ordinary GBP 1 share allocated to Ivan | Different documented initial allocations; no current-ownership conclusion follows automatically |
| Ivan's director role | Named on accounts approval/signature page dated 5 January 2026; register appointment from 1 March 2019 | Register appointment from 20 August 2024; DS01 names him with 19 February 2026 signature date | A concrete overlapping corporate-role timeline; not proof of trading or wrongdoing |
| Elena | Not named in the Capitalixe documents reviewed in this branch | Director and secretary; named on DS01 | Capitalixe's public team webpage is a separate source for her consultancy role, not these filings |
| Ownership ambiguity | Initial equal allotment conflicts with both >50%-<75% PSC bands | Initial sole allocation and 75%+ PSC are consistent on their face | Obtain company registers and original filing instructions to resolve Capitalixe's mismatch; do not invent a share split |

## Captures and provenance

All four PDFs were downloaded through ordinary TLS-validated HTTPS from links on the official [filing index](https://find-and-update.company-information.service.gov.uk/company/11853977/filing-history). No credentials, contact or private account access was used. PDFs are preserved unchanged. Image-only PDFs were rendered to PNG with Poppler and the relevant complete pages visually inspected; text extraction alone did not recover their content. No OCR text is passed off as the original.

| File | Actual successful retrieval, UTC | PDF length |
| --- | --- | --- |
| `incorporation.pdf` | 2026-11-05 11:36:06.317987 | 32 pages |
| `accounts-2025.pdf` | 2026-11-05 11:35:57.984778 | 9 pages |
| `cs01-2025.pdf` | 2026-11-05 11:36:00.237703 | 3 pages |
| `cs01-2026.pdf` | 2026-11-05 11:35:55.763180 | 3 pages |

The `*-meta.json` sidecars give exact source URLs, response status, final URLs and timestamps. [The manifest](sources/capitalixe-filings/manifest.json) records bytes and SHA-256 digests for raw captures and derivatives; filesystem modification times are explicitly distinguished from retrieval timestamps. Images named `incorporation-05.png`, `incorporation-06.png`, `incorporation-09.png`, `incorporation-11.png`, `accounts-2025-3.png` and `accounts-2025-8.png` are the key review pages.

## Next evidence that would resolve the remaining questions

1. The company's register of members and any transfer documents covering August 2024 onward, together with any shareholder agreement or filing instructions explaining the PSC bands.
2. The actual scope of Ivan's duties, any declared interests or consent, and any actual dated business communications. The original-company accounts help date a represented role but cannot answer these questions.
3. Original GTS trading records and attributable email messages. The public accounts contain no usable customer-by-customer or counterparty comparison.

The original legal-entity identification is requester-confirmed. Person-level identity correspondence, actual competition and wrongdoing remain separate evidential questions.