IRIS Accounts Production v26.1.0.640 SC274480 Board of Directors 1.1.25 31.12.25 31.12.25 26/3/2026 false true false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC274480 2024-12-31 SC274480 2025-12-31 SC274480 2025-01-01 2025-12-31 SC274480 2023-12-31 SC274480 2024-01-01 2024-12-31 SC274480 2024-12-31 SC274480 ns15:Scotland 2025-01-01 2025-12-31 SC274480 ns14:PoundSterling 2025-01-01 2025-12-31 SC274480 ns10:Director1 2025-01-01 2025-12-31 SC274480 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC274480 ns10:SmallEntities 2025-01-01 2025-12-31 SC274480 ns10:Audited 2025-01-01 2025-12-31 SC274480 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 SC274480 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 SC274480 ns10:FullAccounts 2025-01-01 2025-12-31 SC274480 ns10:Director2 2025-01-01 2025-12-31 SC274480 ns10:RegisteredOffice 2025-01-01 2025-12-31 SC274480 ns5:CurrentFinancialInstruments 2025-12-31 SC274480 ns5:CurrentFinancialInstruments 2024-12-31 SC274480 ns5:ShareCapital 2025-12-31 SC274480 ns5:ShareCapital 2024-12-31 SC274480 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 SC274480 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 SC274480 ns5:FurnitureFittings 2025-01-01 2025-12-31 SC274480 ns5:ComputerEquipment 2025-01-01 2025-12-31 SC274480 ns5:FurnitureFittings 2024-12-31 SC274480 ns5:ComputerEquipment 2024-12-31 SC274480 ns5:FurnitureFittings 2025-12-31 SC274480 ns5:ComputerEquipment 2025-12-31 SC274480 ns5:FurnitureFittings 2024-12-31 SC274480 ns5:ComputerEquipment 2024-12-31 SC274480 ns5:CostValuation 2024-12-31 SC274480 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 SC274480 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 SC274480 ns5:WithinOneYear 2025-12-31 SC274480 ns5:WithinOneYear 2024-12-31 SC274480 ns5:BetweenOneFiveYears 2025-12-31 SC274480 ns5:BetweenOneFiveYears 2024-12-31 SC274480 ns5:AllPeriods 2025-12-31 SC274480 ns5:AllPeriods 2024-12-31 SC274480 1 2025-01-01 2025-12-31

REGISTERED NUMBER: SC274480 (Scotland)

| NOVOTEK UK & IRELAND LIMITED |

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

| Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |  | to |  | 6

NOVOTEK UK & IRELAND LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr G M Walker

| Mr A T Antius

| REGISTERED OFFICE: | Stanley House

| 69/71 Hamilton Road

| Motherwell

| ML1 3DG

| BUSINESS ADDRESS: | Cartelli House

| 3 Hawthorn Park

| LEEDS

| LS14 1PQ

| REGISTERED NUMBER: | SC274480 (Scotland)

| AUDITOR: | Ellacotts Audit Services Limited

| Countrywide House

| 23 West Bar Street

| Banbury

| OX16 9SA

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,930 |  | 5,998 |  |

Investments | 5 | 7,990,940 |  | 8,063,031 |  |

7,993,870 |  | 8,069,029 |  |

CURRENT ASSETS

Stocks | 15,535 |  | 74,264 |  |

Debtors | 6 | 5,545,500 |  | 5,884,082 |  |

Cash at bank | 635,804 |  | 457,741 |  |

6,196,839 |  | 6,416,087 |  |

CREDITORS

Amounts falling due within one year | 7 | 11,677,161 |  | 12,162,611 |  |

NET CURRENT LIABILITIES | (5,480,322 | ) | (5,746,524 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,513,548 |  | 2,322,505 |  |

PROVISIONS FOR LIABILITIES | 733 |  | 1,500 |  |

NET ASSETS | 2,512,815 |  | 2,321,005 |  |

CAPITAL AND RESERVES

Called up share capital | 10,000 |  | 10,000 |  |

Retained earnings | 2,502,815 |  | 2,311,005 |  |

2,512,815 |  | 2,321,005 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2026 and were signed on its behalf by:

Mr G M Walker - Director

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Novotek UK & Ireland Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Novotek UK & Ireland Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Novotek AB, Hojdrodergatan 18, 212 39 Malmo, Sweden.

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Despite the net current liabilities, the company has the ongoing support of the parent company for a period of at least twelve months following the date of signing these financial statements.

| Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Turnover

| Turnover represents net invoiced sales of services, excluding value added tax.

| The company has four principal revenue streams:

| Products - sale is recognised on delivery.

| Support and upgrade agreements - income is recognised over the period of the agreement.

| Subscription/Term Licences SAAS - income is recognised over the period of the agreement.

| Subscription/Term Licences On Prem - 50% of the revenue, that being the licence part, is recognised on delivery. The other 50% is recognised over the period of the agreement.

| Corresponding costs from suppliers are recognised on the same basis as the revenue.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 20% on cost

| Computer equipment | - | 20% on cost

| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| 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 year 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Leasing commitments

| Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight line basis.

| 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.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Cash & cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions.

| Creditors

| Short term creditors are measured at transaction price.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 13 (2024 - 14 ) .

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025

| and 31 December 2025 | 80,101 |  | 32,468 |  | 112,569 |  |

| DEPRECIATION

| At 1 January 2025 | 80,101 |  | 26,470 |  | 106,571 |  |

| Charge for year | - |  | 3,068 |  | 3,068 |  |

| At 31 December 2025 | 80,101 |  | 29,538 |  | 109,639 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 2,930 |  | 2,930 |  |

| At 31 December 2024 | - |  | 5,998 |  | 5,998 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 8,063,031 |  |

| PROVISIONS

| Provision for year | 72,091 |  |

| At 31 December 2025 | 72,091 |  |

| NET BOOK VALUE

| At 31 December 2025 | 7,990,940 |  |

| At 31 December 2024 | 8,063,031 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,101,508 |  | 1,776,688 |  |

| Amounts owed by group undertakings | 51,331 |  | 119,549 |  |

| Corporation tax | - |  | 11,974 |  |

| Prepayments and accrued income | 4,392,661 |  | 3,975,871 |  |

5,545,500 |  | 5,884,082 |  |

NOVOTEK UK & IRELAND LIMITED (REGISTERED NUMBER: SC274480)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 622,725 |  | 1,070,878 |  |

| Amounts owed to group undertakings | 6,531,198 |  | 6,816,715 |  |

| Corporation tax | 3,915 |  | - |  |

| Social security and other taxes | 22,236 |  | 21,401 |  |

| VAT | 58,819 |  | 74,030 |  |

| Other creditors | 6,795 |  | 6,454 |  |

| Accruals and deferred income | 4,431,473 |  | 4,173,133 |  |

11,677,161 |  | 12,162,611 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 30,917 |  | 30,917 |  |

| Between one and five years | 20,611 |  | 51,528 |  |

51,528 |  | 82,445 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditor was unqualified.

| David Stevens FCA (Senior Statutory Auditor)

| for and on behalf of Ellacotts Audit Services Limited

10. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Novotek UK & Ireland Limited is a wholly owned subsidiary of Novotek Holdings Limited, who in turn are a wholly owned subsidiary of Novotek A.B.

| The consolidated financial statements of Novotek AB are available from its head office at Hojdrodergatan 18, 212 39 Malmo, Sweden.

11. | POST BALANCE SHEET EVENTS

| Hive up of Trade and Assets

| After the year end the company is in the process of completing a hive up of the trade and assets of its subsidiary Novotek Solutions UK & Ireland Limited. Under the hive up arrangement, all operational activities, assets, and associated liabilities of the subsidiary will be transferred to the company at their carrying amounts immediately prior to transfer.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Swedish company, Novotek AB, by virtue of its holding in Novotek Holdings Limited, which holds the entire share capital of Novotek UK & Ireland Limited.