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Registration number: 11463079

AlternIT One Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

AlternIT One Limited

Contents

Company Information | 1
Strategic Report | 2 to 4
Balance Sheet | 5
Notes to the Unaudited Financial Statements | 6 to 11

AlternIT One Limited

Company Information

Directors | D C Foreman N T Gannon N A Brooks D S Wallace C O'Dell C J Steele

Registered office | 9 Perseverance Works Kingsland Road London E2 8DD

Bankers | Metro Bank Plc One Southampton Row London WC1B 5HA

Accountants | Lambert Chapman LLP 3 Warners Mill Silks Way Braintree Essex CM7 3GB

AlternIT One Limited

Strategic Report for the Year Ended 31 July 2025

The directors present their strategic report for the year ended 31 July 2025.

Fair review of the business

The year to 31 July 2025 has been characterised by robust growth and productivity across the business. In the spirit of transparency and reflection we are pleased to outline some of the key developments and milestones achieved over the last twelve months.
Our Turnover increased by 24% allowing us to achieve double-digit profit growth. This expansion has been instrumental in supporting our continued progress. Our financial foundations were further strengthened, with net assets rising by an impressive 45%. As a service-led organisation, we are particularly pleased to report that book value also increased by 24%, positioning us well for future success.
The past year has marked a period of high-quality, strategically aligned growth for the firm, meaning we welcomed a 12% increase in new client acquisition. Our focus on serving regulated investment businesses continues to differentiate us in a competitive market. Rather than pursuing volume for its own sake, our new-client acquisition profile has matured, with a smaller number of highly sophisticated investment houses joining our client community. These organisations value the deep, high-touch outsourced support and secure public-cloud infrastructure services that have become our hallmark. Importantly, this growth is balanced by a healthy mix of client profiles, service types and spending levels, ensuring stability and diversity in our revenue base.
A clear trend is present in all these new relationships: the demand for global agility underpinned by deeply secure infrastructure design. Clients increasingly expect an architecture that is both highly mobile and uncompromisingly safe. In parallel, the rapid incorporation of AI capabilities into the SaaS application stack is amplifying the need for secure application delivery. As a SaaS-based firm with long-standing expertise in this domain, we are well positioned to meet this evolving requirement.
These results were delivered alongside significant investments in new premises and staff which, while moderating profit growth, have strengthened our foundation for future expansion. Midway through the year, we relocated to larger premises and tailored the new space to better reflect our identity and ambitions as a Company. This enabled us to continue investing in our people as headcount grew by 32% bringing the average number of staff to 62.
We have continued to invest in our own global capabilities to match client demand. The expansion of our 24×7 support team in New Zealand has been warmly received by both existing and prospective clients, reinforcing our ability to deliver a true follow-the-sun service and ensuring that critical systems remain supported around the clock.
Our growth strategy has also extended beyond technology. Active participation in key industry events, initiatives and networks has been instrumental in strengthening our brand and pipeline. Highlights included our role at the With Intelligence flagship HFM COO Summit, which attracted more than 300 senior delegates, or when we were invited by Northern Trust to host a private Cyber Incident Workshop for their Integrated Trading clients.
We maintained a strong presence across industry media and marketing outlets such as With Intelligence and contributed to numerous industry and charitable events throughout the year - not just in the pursuit of maintaining our networks, but to remain a genuine and valuable contributor to the industry.
To ensure our market positioning remains sharp, we commissioned an external brand review and customer feedback exercise during the year. The insights gained have informed a programme of further investment in marketing and positioning planned for 2025/26, reinforcing our reputation as a trusted, mature partner for regulated financial firms who embrace change to ensure the best for our clients.

AlternIT One Limited

Strategic Report for the Year Ended 31 July 2025

Diversity and inclusion remain integral to our ESG commitments and to our commercial success. We were proud to sponsor a series of women’s lunches covering topics from AI to speed networking, fostering dialogue and visibility for women across the investment and technology community. These initiatives reflect our conviction that diverse perspectives are essential to innovation and resilience, and we will continue to invest in them.
Examining the technical and operational core of the business, the past year has been one of evolution for our Technical Teams. The year began with significant headcount expansion, a direct result of increased client acquisition, ongoing product innovation, and the internal progression of staff into new positions. This momentum created an ideal environment to restructure our teams, positioning us for sustainable scale and continued advancement in line with our long-term ambitions.
We have also made substantial headway towards our strategic objectives. Targeted investment in automation, the pursuit of ISO 27001 and 9001 standards, enhanced reporting suites, and comprehensive training programmes have all contributed to greater efficiency and elevated quality across the business. The landscape is constantly shifting, particularly with the integration of AI toolsets, but our robust, well-trained, and collaborative teams provide a solid foundation for AlternIT One’s (A1) ongoing success and future prospects.
The technical teams have continued to mature alongside the broader organisation, with tangible results already visible in streamlined processes, improved procedures, and a markedly enhanced user experience. These advances have supported our drive towards ISO accreditation, which remains a key milestone for the coming months.
Turning to service and support, we have further developed our ITSM platform, Halo, by integrating additional business units and increasing our operational visibility. This has enabled us to drive efficiency and optimise team utilisation across the company with real time information feeding our decision-making processes. We have also strengthened our Service Management function, bringing in new talent to enhance both Service Desk and Service Delivery management, all with the aim of improving our clients’ day-to-day interactions and experiences.
As highlighted earlier, we undertook a significant restructuring and investment in our 24/7 support offering this year. Our primary 24/7 support operations have now transitioned to New Zealand, allowing us to recruit and train local staff and deliver a true follow-the-sun service model. This move will continue to elevate the quality of our service delivery as we look ahead to 2026.
The infrastructure department now encompasses a diverse range of teams dedicated to client and internal projects, research and development, proactive management of infrastructures and the delivery of more specialist skillsets. Over the past twelve months, these groups have been brought together under unified management to foster greater cohesion and efficiency.
These structural investments will ensure A1 continues to lead on designing robust infrastructure solutions, supporting escalations, drive research and development, and respond to technological developments in the industry. For example, the recent addition of the Modern Workplace Engineering Team, spearheading the development and of our SaaS-based offering, defining security policies, evolving standards, and deploying automation.
At the heart of all these operations lies the indispensable Operations Team. Over the past year, they have driven efficiency and collaboration, embracing our organisational values at every turn. Their achievements include partnering with HR specialists to audit and benchmark our EDI policies, which has led to regular reviews and the improvement of our policy suite in alignment with best practices. The launch of a new HR platform has also transformed our approach to people management, delivering greater efficiency, improved data visibility, and a better employee experience.
Environmental, Social, and Governance (ESG) performance continues to be central focus for the Operations Team. Recognising our responsibility in promoting a sustainable and ethical future, we have embedded ESG principles into our operational fabric.
Looking ahead, we enter the new financial year with an exceptionally strong pipeline of opportunities and a clear strategy for sustained, high-quality growth. Our blend of secure, globally agile infrastructure expertise, deep SaaS application knowledge and ongoing commitment to industry engagement and ESG principles positions us to build on the momentum achieved this year.
The technical teams will maintain a strong focus on expanding our product portfolio, deepening automation, and refining processes throughout the business. Continued development of AI capabilities, security capabilities and their integration within our platforms stand at the forefront of our agenda. We anticipate a year of exciting progress, further strengthening Alternit One’s product offerings, service excellence, and client experience.
The coming year will see the infrastructure department increase their focus on our already expansive security offering. We have several security focused R&D projects underway to enhance our own tooling as well as client products and services. This momentum, alongside our strong partnerships with several security partners will see A1 raise the bar across our security offerings.
As we reflect on a year of substantial progress and achievement, we are energised by the solid foundations we have all passionately contributed to. The coming years promise further growth and innovation and we remain deeply grateful for the dedication and hard work of our entire team.

AlternIT One Limited

Strategic Report for the Year Ended 31 July 2025

Diversity and inclusion remain integral to our ESG commitments and to our commercial success. We were proud to sponsor a series of women’s lunches covering topics from AI to speed networking, fostering dialogue and visibility for women across the investment and technology community. These initiatives reflect our conviction that diverse perspectives are essential to innovation and resilience, and we will continue to invest in them.
Examining the technical and operational core of the business, the past year has been one of evolution for our Technical Teams. The year began with significant headcount expansion, a direct result of increased client acquisition, ongoing product innovation, and the internal progression of staff into new positions. This momentum created an ideal environment to restructure our teams, positioning us for sustainable scale and continued advancement in line with our long-term ambitions.
We have also made substantial headway towards our strategic objectives. Targeted investment in automation, the pursuit of ISO 27001 and 9001 standards, enhanced reporting suites, and comprehensive training programmes have all contributed to greater efficiency and elevated quality across the business. The landscape is constantly shifting, particularly with the integration of AI toolsets, but our robust, well-trained, and collaborative teams provide a solid foundation for AlternIT One’s (A1) ongoing success and future prospects.
The technical teams have continued to mature alongside the broader organisation, with tangible results already visible in streamlined processes, improved procedures, and a markedly enhanced user experience. These advances have supported our drive towards ISO accreditation, which remains a key milestone for the coming months.
Turning to service and support, we have further developed our ITSM platform, Halo, by integrating additional business units and increasing our operational visibility. This has enabled us to drive efficiency and optimise team utilisation across the company with real time information feeding our decision-making processes. We have also strengthened our Service Management function, bringing in new talent to enhance both Service Desk and Service Delivery management, all with the aim of improving our clients’ day-to-day interactions and experiences.
As highlighted earlier, we undertook a significant restructuring and investment in our 24/7 support offering this year. Our primary 24/7 support operations have now transitioned to New Zealand, allowing us to recruit and train local staff and deliver a true follow-the-sun service model. This move will continue to elevate the quality of our service delivery as we look ahead to 2026.
The infrastructure department now encompasses a diverse range of teams dedicated to client and internal projects, research and development, proactive management of infrastructures and the delivery of more specialist skillsets. Over the past twelve months, these groups have been brought together under unified management to foster greater cohesion and efficiency.
These structural investments will ensure A1 continues to lead on designing robust infrastructure solutions, supporting escalations, drive research and development, and respond to technological developments in the industry. For example, the recent addition of the Modern Workplace Engineering Team, spearheading the development and of our SaaS-based offering, defining security policies, evolving standards, and deploying automation.
At the heart of all these operations lies the indispensable Operations Team. Over the past year, they have driven efficiency and collaboration, embracing our organisational values at every turn. Their achievements include partnering with HR specialists to audit and benchmark our EDI policies, which has led to regular reviews and the improvement of our policy suite in alignment with best practices. The launch of a new HR platform has also transformed our approach to people management, delivering greater efficiency, improved data visibility, and a better employee experience.
Environmental, Social, and Governance (ESG) performance continues to be central focus for the Operations Team. Recognising our responsibility in promoting a sustainable and ethical future, we have embedded ESG principles into our operational fabric.
Looking ahead, we enter the new financial year with an exceptionally strong pipeline of opportunities and a clear strategy for sustained, high-quality growth. Our blend of secure, globally agile infrastructure expertise, deep SaaS application knowledge and ongoing commitment to industry engagement and ESG principles positions us to build on the momentum achieved this year.
The technical teams will maintain a strong focus on expanding our product portfolio, deepening automation, and refining processes throughout the business. Continued development of AI capabilities, security capabilities and their integration within our platforms stand at the forefront of our agenda. We anticipate a year of exciting progress, further strengthening Alternit One’s product offerings, service excellence, and client experience.
The coming year will see the infrastructure department increase their focus on our already expansive security offering. We have several security focused R&D projects underway to enhance our own tooling as well as client products and services. This momentum, alongside our strong partnerships with several security partners will see A1 raise the bar across our security offerings.
As we reflect on a year of substantial progress and achievement, we are energised by the solid foundations we have all passionately contributed to. The coming years promise further growth and innovation and we remain deeply grateful for the dedication and hard work of our entire team.

Approved by the Board on 10 October 2025 and signed on its behalf by:

N T Gannon
Director

AlternIT One Limited

(Registration number: 11463079)
Balance Sheet as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 18,719 | 15,636
Tangible assets | 5 | 271,302 | 51,020
|  | 290,021 | 66,656
Current assets |  |  |
Debtors | 6 | 2,060,529 | 1,852,650
Cash at bank and in hand |  | 2,501,333 | 2,119,378
|  | 4,561,862 | 3,972,028
Creditors: Amounts falling due within one year | 7 | (2,474,158) | (2,406,747)
Net current assets |  | 2,087,704 | 1,565,281
Total assets less current liabilities |  | 2,377,725 | 1,631,937
Creditors: Amounts falling due after more than one year | 7 | (885) | (11,410)
Provisions for liabilities |  | (39,656) | (11,377)
Net assets |  | 2,337,184 | 1,609,150
Capital and reserves |  |  |
Called up share capital | 8 | 10,716 | 10,716
Other reserves |  | 45,366 | 45,366
Retained earnings |  | 2,281,102 | 1,553,068
Shareholders' funds |  | 2,337,184 | 1,609,150

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2025 and signed on its behalf by:

N T Gannon
Director

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 9 Perseverance Works, Kingsland Road, London, E2 8DD.

The principal place of business is: 2nd Floor East, 52-54 Gracechurch Street, London, EC3V 0EH.

These financial statements were authorised for issue by the Board on 10 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in IT support. Turnover is shown net of value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised within the profit and loss account for the accounting period they relate to.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% Straight Line
Computer equipment | 33% Straight Line
Leasehold property improvements | 20%, 33% and 50% Straight Line

Development costs

The amounts paid in connection with the development of software used in connection with the business' activity. The assets are carried at the costs less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Software development | 33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Long term employee benefits

The holiday year for AlternIT One Limited runs to 31 December 2025.
Any unused holiday can only be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employees services are received.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 62 (2024 - 47).

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4 | Intangible assets

| Software development £ | Total £
Cost or valuation
At 1 August 2024 | 22,535 | 22,535
Additions | 9,450 | 9,450
At 31 July 2025 | 31,985 | 31,985
Amortisation
At 1 August 2024 | 6,899 | 6,899
Amortisation charge | 6,367 | 6,367
At 31 July 2025 | 13,266 | 13,266
Carrying amount
At 31 July 2025 | 18,719 | 18,719
At 31 July 2024 | 15,636 | 15,636

5 | Tangible assets

| Leasehold property improvements £ | Office equipment £ | Computer equipment £ | Total £
Cost or valuation
At 1 August 2024 | 36,056 | 19,024 | 118,030 | 173,110
Additions | 183,636 | 21,975 | 74,942 | 280,553
Disposals | (8,821) | (215) | (124) | (9,160)
At 31 July 2025 | 210,871 | 40,784 | 192,848 | 444,503
Depreciation
At 1 August 2024 | 30,543 | 14,091 | 77,456 | 122,090
Charge for the year | 19,135 | 4,571 | 34,774 | 58,480
Eliminated on disposal | (7,350) | (12) | (7) | (7,369)
At 31 July 2025 | 42,328 | 18,650 | 112,223 | 173,201
Carrying amount
At 31 July 2025 | 168,543 | 22,134 | 80,625 | 271,302
At 31 July 2024 | 5,513 | 4,933 | 40,574 | 51,020

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 924,626 | 1,083,215
Other debtors | 75,094 | 50,202
Prepayments and accrued income | 1,060,809 | 719,233
| 2,060,529 | 1,852,650

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 848,222 | 815,670
Loans and borrowings | 10 | 10,505 | 10,225
Taxation and social security |  | 733,386 | 828,930
Other creditors |  | 21,852 | 10,109
Accruals and deferred income |  | 860,193 | 741,813
|  | 2,474,158 | 2,406,747

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 885 | 11,410

AlternIT One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordianry A Shares of £0.01 each | 964,200 | 9,642 | 964,200 | 9,642
Ordinary B Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
Ordianry C Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
Ordinary D Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
Ordinary E Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
Ordinary F Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
Ordinary G Shares of £0.01 each | 17,900 | 179 | 17,900 | 179
| 1,071,600 | 10,716 | 1,071,600 | 10,716

On 2 August 2021 the 10,000 Ordinary £1 Shares were redesignated as 964,200 Ordinary £0.01 A shares, 17,900 Ordinary £0.01 B Shares and 17,900 Ordinary £0.01 C Shares.

9 | Share based payments

No further share options have been issued to employees during the year with a fair value of £nil (2024 - £45,366). The options have no vesting conditions, consequently the fair value has been recognised in full as an expense. The options expire 10 years from the date of issue and can only be exercised in the event of a change in majority ownership or sale of the majority of trading assets of the company.

10 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 10,505 | 10,225

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 885 | 11,410

11 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £402,300 (2024 - £24,720).