EXTREME NETWORKS UK TECHNOLOGY LIMITED

Company Registration Number:
02153164 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The principal activity of the company is the sale and marketing of computer networking hardware products and the provision of related services on behalf of Extreme Networks Ireland Ops Limited under an agency agreement effective 1 July 2018. The company’s ultimate parent is Extreme Networks Inc.

Additional information

The principal risks and uncertainties facing the company are similar to those facing other companies in the network system sector namely technological obsolescence and revenue risk from competing businesses. These risks are managed at a global and a European regional level and are significantly mitigated by being an integral part of a leading global network solutions provider, delivering innovative, advanced network systems to businesses, governments and other enterprise level consumers. Key performance indicators focused on by management are: Turnover Gross margin and operating expenditure as a percentage of turnover.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Padraig Hayes
Clare Barbieri
Katayoun Motiey


Secretary Broughton Secretaries Limited

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 March 2025

And signed on behalf of the board by:
Name: Padraig Hayes
Status: Director

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 20,028,577 20,624,108
Gross profit(or loss): 20,028,577 20,624,108
Distribution costs: ( 17,366,258 ) ( 17,392,351 )
Administrative expenses: ( 2,941,818 ) ( 2,863,339 )
Other operating income: 7,228
Operating profit(or loss): (272,271) 368,418
Interest payable and similar charges: ( 774 ) ( 2,181 )
Profit(or loss) before tax: (273,045) 366,237
Tax: ( 26,140 ) ( 333,084 )
Profit(or loss) for the financial year: (299,185) 33,153

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 3,882,839 4,316,381
Total fixed assets: 3,882,839 4,316,381
Current assets
Debtors: 4 6,131,653 5,607,868
Cash at bank and in hand: 202,992 61,758
Total current assets: 6,334,645 5,669,626
Creditors: amounts falling due within one year: 5 ( 2,248,846 ) ( 2,959,447 )
Net current assets (liabilities): 4,085,799 2,710,179
Total assets less current liabilities: 7,968,638 7,026,560
Creditors: amounts falling due after more than one year: 6 ( 3,720,815 ) ( 4,143,136 )
Total net assets (liabilities): 4,247,823 2,883,424
Capital and reserves
Called up share capital: 2 2
Other reserves: 782,904 1,082,089
Profit and loss account: 3,464,917 1,801,333
Total Shareholders' funds: 4,247,823 2,883,424

The notes form part of these financial statements

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Balance sheet statements

For the year ending 30 June 2024 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.

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

This report was approved by the board of directors on 27 March 2025
and signed on behalf of the board by:

Name: Padraig Hayes
Status: Director

The notes form part of these financial statements

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover represents the invoiced value of services supplied to group companies. Such revenue comprises a standard percentage recharged on all costs incurred by the company in providing sales and marketing services.

    Tangible fixed assets depreciation policy

    Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful financial life. Leasehold improvements 20% on cost Fixtures and fittings and equipment Straight-line over 2 to 7 years Software Straight-line over 4 years

    Other accounting policies

    FOREIGN CURRENCY Transactions denominated in currencies other than Sterling are translated into Sterling at the rates of exchange prevailing at the date when the transaction took place. Balances denominated in currencies other than Sterling are translated into Sterling at the rate ruling at the balance sheet date or the applicable forward contract rate. TAXATION The charge for taxation is based on the profit for the period. Deferred tax is calculated on the differences between the company’s taxable profits and results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in years different from those in which they are recognised in the financial statements. LEASES (a) Application of IFRS 16 Liabilities are measured at the present value of the remaining lease payments, discounted using the incremental rate of borrowing as of 1 July 2019. The weighted average rate applied is 4.5%. In applying IFRS 16, the company has used the following practical expedients permitted by the standard: - did not recognise right-of-use assets and liabilities for leases for which the lease term is less than 12 months; - did not recognise right-of-use assets and liabilities for leases of low value assets (e.g. IT equipment); - certain lease contracts include fixed payments for services, such as operations, maintenance, or other services. The company has elected to account for fixed lease and non-lease components as a single lease component except for the logistic service asset class. (b) Right-of-use (ROU) and lease liabilities measurement Operating lease ROU assets and operating lease liabilities are recognised based on the present value of the future minimum lease payments over the lease term at commencement date. The interest rate used to determine the present value of future payments is the company’s incremental borrowing rate because the rate implicit in the leases are not readily determinable. The company’s incremental borrowing rate is a hypothetical rate for collateralised borrowings based on the current economic environment, credit history, credit rating, value of leases, currency in which the lease obligation is satisfied, rate sensitivity, lease term and materiality. (c) Impairment test Under IFRS 16, right-of-use assets are tested for impairment. PENSIONS The company operates a defined contribution scheme. Pension benefits for employees are met by payments to a defined contribution pension fund. Contributions are charged to the profit and loss account in the financial year in which they fall due and are in accordance with the rules of the scheme. SHARE BASED PAYMENTS The cost of equity settled transactions with employees is measured by reference to the fair value at the date at which they are granted and is recognized over the vesting period, which ends on the date on which the relevant employee becomes fully entitled to the award. Fair value is determined by the directors using an appropriate pricing model. In valuing equity settled transactions, no account is taken of any vesting conditions, or other conditions linked to the price of the shares of Extreme Networks, Inc. (market conditions). No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vesting irrespective of whether or not the market conditions are satisfied, providing that all other conditions are satisfied. At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest or in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the profit and loss account, with a corresponding entry in equity. When the terms of equity settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the original award terms continues to be recognised over the original vesting period. In addition, any expense is recognised over the remainder of the new vesting period for the incremental fair value of any modifications, based on the difference between the fair value of the original award and the fair value of the modified award, both as measured on the date of modification. No reduction is recognised if this modification is negative. Where an equity settled award is cancelled it is treated as if it has vested on the date of cancellation, and any cost not yet recognised in the profit and loss account for the award is expensed immediately. Any compensation paid up to the fair value of the award at cancellation or settlement date is deducted from equity, with any excess over fair value being treated as an expense in the profit and loss account.

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 112 118

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 6,214,015 978,142 0 7,192,157
Additions 7,990 16,922 24,912
Disposals
Revaluations
Transfers
At 30 June 2024 6,214,015 986,132 16,922 7,217,069
Depreciation
At 1 July 2023 2,113,128 762,648 0 2,875,776
Charge for year 382,348 75,048 1,058 458,454
On disposals
Other adjustments
At 30 June 2024 2,495,476 837,696 1,058 3,334,230
Net book value
At 30 June 2024 3,718,539 148,436 15,864 3,882,839
At 30 June 2023 4,100,887 215,494 0 4,316,381

Land & Buildings include Right of Use Asset (cost £4,534,623). Fixtures & Fittings include Right of Use Asset (cost £55,302). Office Equipment includes Software (cost £16,922)

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 913,572 973,444
Other debtors 5,218,081 4,634,424
Total 6,131,653 5,607,868

Other debtors include amounts owed by group undertakings, deferred tax and other debtors.

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 57,668 144,168
Taxation and social security 572,874 883,921
Accruals and deferred income 1,197,258 1,530,406
Other creditors 421,046 400,952
Total 2,248,846 2,959,447

Trade creditors are payable on standard commercial terms. PAYE and social welfare and corporation tax are payable in accordance with the statutory provisions.

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 3,720,815 4,143,136
Total 3,720,815 4,143,136

Other creditors include lease liabilities.

EXTREME NETWORKS UK TECHNOLOGY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Financial Commitments

Lease Liabilities (2024). Included in current liabilities (Note 12) £421,046. Included in non-current liabilities (Note 13) £3,720,815. Total lease liabilities £4,141,861. Maturity Analysis (2024). Not later than 1 year £421,046. Later than 1 year but not later than 5 years £3,720,815. Later than 5 year £0.