Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Directors

The director shown below has held office during the period of
1 October 2023 to 24 March 2025

The directors shown below have held office during the period of
1 October 2023 to 30 November 2023

The directors shown below have held office during the period of
24 March 2025 to 31 March 2025

The director shown below has held office during the period of
30 November 2023 to 24 March 2025

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
13 November 2025

And signed on behalf of the board by:
Name: Nicholas James Dunn
Status: Director

Profit And Loss Account

for the Period Ended 31 March 2025

Balance sheet

As at 31 March 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2025 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.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Network assets - 10% on cost Fixed assets held at the balance sheet date which were under construction have not been depreciated. At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss to recognise. If there is an indication of possible impairment this is recognised immediately in the income statement.

  Intangible fixed assets amortisation policy

  Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development costs are being amortised evenly over their estimated useful life of ten years.

  Other accounting policies

  Finance costs Finance costs comprise of interest payable on borrowings and are expensed in the year in which they are incurred. £3.2m was waived as part of the transaction under which the company was acquired by its new parent. Debtors Trade and other receivables are initially recorded at their fair value and subsequently carried at amortised cost. Creditors Trade and other payables are non-interest bearing and are stated at their fair value on initial recognition, and then subsequently at amortised cost. Share Capital Ordinary shares are classified as equity. Any amounts above the nominal amount of the share will be shown within share premium. Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Profit or Loss and Other Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. There has been no tax recognised in the current year. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. There has been no deferred tax recognised in the current period. Deferred Tax asset exists in relation to brought forward losses however this has not been recognised. Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 2. Employees

  	18 months to 31 March 2025	2023
  Average number of employees during the period	0	1