ACCOUNTS - Final Accounts

Registered number: 15387342 (England and Wales)

AVKNIGHT INVESTMENTS UK LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025


AVKNIGHT INVESTMENTS UK LIMITED

COMPANY INFORMATION

Director	R J Mccullen


Company secretary	TMF Corporate Administration Services Limited


Registered number	15387342


Registered office	C/O Tmf Group 13th Floor
	One Angel Court
	London
	United Kingdom
	EC2R 7HJ


Independent auditors	ZEDRA Audit & Assurance (UK) Limited


AVKNIGHT INVESTMENTS UK LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 7


AVKNIGHT INVESTMENTS UK LIMITED REGISTERED NUMBER:15387342

BALANCE SHEET

AS AT 31 JANUARY 2025

		2025
Note		£

Fixed assets
Tangible assets	5		164,087
			164,087
Current assets
Debtors: amounts falling due within one year	6	102,833
		102,833
Creditors: amounts falling due within one year	7	(249,102)
Net current liabilities			(146,269)
Total assets less current liabilities			17,818

Net liabilities			17,818

Capital and reserves
Called up share capital	8	100
Profit and loss account		17,718
		17,818

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:

R J Mccullen

Director

Date: 6 May 2026

The notes on pages 2 to 7 form part of these financial statements.

Page 1


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

1.Accounting policies

1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The Company was incorporated on 4 January 2024 and commenced trading in April 2024.
The period under review is from 4 January 2024 to 31 January 2025.

The following principal accounting policies have been applied:

1.2

Going concern

The Company has received written confirmation from its parent company, LevelBlue, LLC, that it will continue to provide financial support to the Company for a period of 12 months from the date of signing these financial statements.
In assessing the Company's ability to continue as a going concern, the director has considered the the availability of financing from the parent company, through a review of resources available at the parent company and forecast cash requirements of the Company. The director is confident that the Company will continue to be able to meet its obligations as liabilities fall due. For these reasons, the director continues to prepare the financial statements on a going concern basis.

1.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Page 2


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

1.Accounting policies (continued)

1.4

Revenue

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

Rendering of services

Turnover is recognised on a cost plus 6% basis, in line with the agreed basis with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the intercompany service agreement; and

∙the costs incurred under the intercompany service agreement can be measured reliably.

1.5

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

1.6

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.

The estimated useful lives range as follows:

Customer premise equipment

years

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.

Page 3


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

1.Accounting policies (continued)

1.7

Debtors

Short-term debtors are measured at transaction price. Amounts due from group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

1.8

Creditors

Short-term creditors are measured at the transaction price. Amounts due to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

2.	Auditors' information

The auditors' report on the financial statements for the period ended 31 January 2025 was qualified.

The qualification in the audit report was as follows:

As at period ended 31 January 2025, the audit report was qualified in relation to the tangible fixed assets acquired during the period, being assets transferred from the parent company. The net book value of these assets at the period end was £164,087.
With the respect to the existence of the tangible fixed assets, we found audit evidence available to us to be limited, owing to the nature of the transfers and time elapsed between the audit being conducted and the period end. Whilst we attempted to use alternative audit procedures, management were ultimately unable to obtain sufficient appropriate audit evidence of the existence of the tangible fixed assets recognised at period end.

The audit report was signed on 6 May 2026 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Audit & Assurance (UK) Limited.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. In respect of the judgements, estimates and assumptions made by management in preparing these financial statements none are considered to have a significant risk of causing a material adjustment to the carry amount of assets and liabilities presented.
Useful economic lives of tangible fixed assets
The depreciation rates set out in note 5 of these financial statements have been determined using management's judgement of the useful economic lives of tangible fixed assets. There is some estimation uncertainty present in this assessment as assets' lives may be longer or shorter than described. In such cases, management determines where there is a need to impair these assets or make a reassessment of the useful economic lives of the assets in question. These judgements, individually and collectively, have the potential to cause material misstatement within the financial statements.

Page 4


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

Employees

The Company has no employees other than the directors, who did not receive any remuneration.

5.	Tangible fixed assets

		Customer premise equipment
		£
	Cost or valuation
	Additions	208,830
	At 31 January 2025	208,830
	Depreciation
	Charge for the period on owned assets	44,743
	At 31 January 2025	44,743
	Net book value
	At 31 January 2025	164,087

Debtors

					2025
					£


	Amounts owed by group undertakings	12,607
	Other debtors	227
	Prepayments and accrued income	89,999
		102,833

Page 5


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

7.	Creditors: Amounts falling due within one year
		2025
		£

	Corporation tax	10,379
	Accruals and deferred income	238,723
		249,102

Page 6


AVKNIGHT INVESTMENTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2025

8.	Share capital
		2025
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

The Company allotted and issued 1 ordinary share at a nominal value of £1 upon incorporation.
On 14 June 2025, the Company allotted and issued 99 ordinary shares, at a nominal value of £1 each.
The aggregate nominal value of the shares allotted and issued is £100.

9.	Controlling party

The Company is a subsidiary of LevelBlue, LLC, the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of LevelBlue, LLC is 6010 W Spring Creek Pkwy Plano, TX, 75024, USA.

10.	Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and
the date these financial statements were approved.

Page 7