ACCOUNTS - Final Accounts preparation

Company registration number: 09108787

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	TEAMVIEWER UK LIMITED


TEAMVIEWER UK LIMITED

COMPANY INFORMATION

Directors	G Beyschlag
	R M Clayson (appointed 15 July 2024)
	M R Banfield (appointed 1 February 2025)


Registered number	09108787


Registered office	2nd Floor Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	2nd Floor
	Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


TEAMVIEWER UK LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 - 8


TEAMVIEWER UK LIMITED REGISTERED NUMBER:09108787

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		2,380		2,664
			2,380		2,664
Current assets
Debtors: amounts falling due within one year	5	4,053,001		541,495
Cash at bank and in hand		579,177		131,846
		4,632,178		673,341
Creditors: amounts falling due within one year	6	(4,204,174)		(484,885)
Net current assets			428,004		188,456
Total assets less current liabilities			430,384		191,120
Provisions for liabilities
Other provisions		(6,045)		(1,166)
			(6,045)		(1,166)
Net assets			424,339		189,954

Capital and reserves
Allotted, called up and fully-paid share capital	1	1
Capital contribution	1,021,383	140,817
Profit and loss account	(597,045)	49,136
	424,339	189,954

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ M R Banfield	................................................ R M Clayson
Director	Director

Date: 23 September 2025	Date:23 September 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 1


TEAMVIEWER UK LIMITED REGISTERED NUMBER:09108787

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

Page 2


TEAMVIEWER UK LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Capital contribution	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	1	-	63,547	63,548

Loss for the year	-	-	(14,411)	(14,411)
Share based payment charge	-	140,817	-	140,817

At 1 January 2024	1	140,817	49,136	189,954

Loss for the year	-	-	(646,181)	(646,181)
Share based payment charge	-	880,566	-	880,566
At 31 December 2024	1	1,021,383	(597,045)	424,339

The notes on pages 4 to 8 form part of these financial statements.

Page 3


TEAMVIEWER UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

TeamViewer UK Limited is a private Company limited by shares, incorporated in the United Kingdom under the Companies Act 2006, registered in England and Wales. The address of its registered office is disclosed on the company information page. The Company does not have a principal place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Company generated a net loss of £646,181 (2023 - £14,411) for the year ended 31 December 2024. The Directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, with the full support of the parent company. Accordingly, the Directors continue to adopt the going concern basis in preparing the annual Financial Statements with no material uncertainty.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Turnover

Turnover is charged based on the expenditure incurred, with an agreed mark-up. All turnover is derived from the parent company. Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax and other sales taxes, for services rendered.

2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4


TEAMVIEWER UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

Financial instruments

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 entity after deducting all of its financial liabilities.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5


TEAMVIEWER UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
The expense in relation to restricted stock units over the parent company’s shares granted to employees of a subsidiary is recognised by the subsidiary as a capital contribution, and presented as an increase in the parent company’s investment in that subsidiary.
Where the terms and conditions of restricted stock units are modified before they vest, the increase in the fair value of the restricted stock units, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Cancellations or settlements are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 10).

Page 6


TEAMVIEWER UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 January 2024	3,304
	Additions	1,220
	At 31 December 2024	4,524
	Depreciation
	At 1 January 2024	640
	Charge for the year on owned assets	1,504
	At 31 December 2024	2,144
	Net book value
	At 31 December 2024	2,380
	At 31 December 2023	2,664

Page 7


TEAMVIEWER UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	786,248	516,905
Other debtors	8,104	19,433
Prepayments and accrued income	3,254,574	5,157
Deferred taxation	4,075	-
	4,053,001	541,495

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,317	-
Amounts owed to group undertakings	31,674	-
Corporation tax	59,932	40,070
Other taxation and social security	128,034	42,120
Other creditors	36,952	16,597
Accruals and deferred income	3,946,265	386,098
	4,204,174	484,885

As at 31 December 2024, an amount of £3,233,688 (2023 - £nil) is included in prepayments in relation to costs directly attributable to the acquisition of Chamber Topco Limited, which was completed subsequent to the year end. See note 7 for further details.

7.	Post balance sheet events

Subsequent to the year end, on 31 January 2025, TeamViewer UK Limited acquired 100% shareholding in Chamber Topco Limited. The provisional total investment value within TeamViewer UK Limited amounted to 728,910,308 USD, equivalent to 581,286,489 GBP.

8.	Controlling party

The parent of the smallest group for which consolidated financial statements were drawn up was TeamViewer Germany GmbH, a company incorporated in Germany. The registered office is Bahnhofsplatz 2, 73033 Göppingen, Deutschland.

9.	Auditor's information

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

The audit report was signed on 24 September 2025 by Tom Woods FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 8