Company No: 05624417 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	R E Antell
	D D I Briggs
	P S Kemp
	Dr T Paulun (Resigned 01 February 2024)
	J M Rick
	S Riediger
	W P Von Rintelen

REGISTERED OFFICE	Hill Place
	London Road
	Southborough
	Tunbridge Wells
	Kent
	TN4 0PY
	United Kingdom

COMPANY NUMBER

05624417 (England and Wales)

AUDITOR	S&W Partners Audit Limited
	Statutory Auditor
	Brockbourne House
	77 Mount Ephraim
	Tunbridge Wells
	Kent
	TN4 8BS

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	19,695		19,927
		19,695		19,927
Current assets
Debtors	4	406,792		279,977
Cash at bank and in hand		876,707		787,020
		1,283,499		1,066,997
Creditors: amounts falling due within one year	5	( 1,066,396)		( 658,253)
Net current assets		217,103		408,744
Total assets less current liabilities		236,798		428,671
Creditors: amounts falling due after more than one year	6	0		( 224,035)
Net assets		236,798		204,636
Capital and reserves
Called-up share capital		88		88
Share premium account		5,996		5,996
Profit and loss account		230,714		198,552
Total shareholder's funds		236,798		204,636

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of K B Tech Limited (registered number: 05624417) were approved and authorised for issue by the Board of Directors on 04 September 2025. They were signed on its behalf by:

P S Kemp Director

D D I Briggs Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K B Tech Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hill Place, London Road, Southborough, Tunbridge Wells, Kent, TN4 0PY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of K B Tech Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where indicated.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. The parent company in a signed letter of support has confirmed it will continue to provide support to K B Tech Limited by continuing to use and pay for the Company's services for at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as earned when the service or support is provided to the customer. Where projects are invoiced in advance and relate to the subsequent financial period, revenue is included in deferred income in creditors.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the [appropriate pricing] model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	22		19

3. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2024	23,567		23,567
Additions	8,369		8,369
At 31 December 2024	31,936		31,936
Accumulated depreciation
At 01 January 2024	3,640		3,640
Charge for the financial year	8,601		8,601
At 31 December 2024	12,241		12,241
Net book value
At 31 December 2024	19,695		19,695
At 31 December 2023	19,927		19,927

4. Debtors

	2024		2023
	£		£
Trade debtors	141,087		75,105
Amounts owed by Group undertakings	54,815		62,606
Prepayments and accrued income	57,255		69,421
Deferred tax asset	128,049		52,143
VAT recoverable	25,586		16,952
Other debtors	0		3,750
	406,792		279,977

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	38,193		3,488
Amounts owed to Group undertakings	45,271		0
Accruals and deferred income	898,101		644,565
Other taxation and social security	69,884		0
Other creditors	14,947		10,200
	1,066,396		658,253

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

	2024		2023
	£		£
Accruals	0		224,035

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	14,550		19,400
between one and five years	0		14,550
	14,550		33,950

8. Share based payment

During the year, the Company participated in the Deutsche Börse Group Share Plan (GSP), an equity-settled share-based payment arrangement. The GSP is a voluntary equity-settled share purchase plan offered by Deutsche Börse AG to eligible employees of the Company. Under the plan, employees may acquire up to 100 Deutsche Börse AG shares at a discounted price. The discount is 40% on the first 50 shares and 10% on the remaining 50 shares. As the GSP is a share purchase plan and not an option plan, there are no outstanding, forfeited, exercised, or expired options. During the year, employees subscribed and purchased shares under the GSP as part of their participation in the plan.

The fair value of the shares granted under the GSP was determined based on the market price of Deutsche Börse AG shares at the grant date: 2023: €166.25 (Xetra opening price on 17 May 2023) and 2024: €177.95 (Xetra opening price on 15 May 2024). There are no performance or service conditions beyond the eligibility criteria already met at the time of subscription. Therefore, the vesting period is considered immediate and the discount applied (40% for the first 50 shares, 10% for the next 50) was used to calculate the fair value of the benefit provided to employees. No complex valuation models were used.

The total expense recognised in the profit and loss account in respect of equity-settled share-based payment arrangements was: £11,803 (2023: £2,810).

9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Matthew Neill BA (Hons) MA FCA on behalf of S&W Partners Audit Limited.

10. Ultimate controlling party

The ultimate parent company is Deutsche Börse AG. which is incorporated in Germany. The controlling party is European Energy Exchange AG, as the immediate parent company.

The financial statements are consolidated into the financial statements of the parent company, Deutsche Börse AG. The parent company's registered office address is 60485 Frankfurt/Main, Germany.