ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

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

The address of its registered office is:
3 Heron Gate Office Park
Hankridge Way
Taunton
Somerset
TA1 2LR

These financial statements were authorised for issue by the director on 20 March 2026.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 March 2026 was Robert Cadwallader, who signed for and on behalf of ML Audit LLP.

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Where a service is provided covering a future period the applicable revenue is recognised as deferred income and shown within other creditors.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	10% - 25% straight line
Leasehold improvements	Over the term of the lease

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Intangible assets

Patents are shown at historical cost. They have a finite useful life and are carried at cost 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
Patents	written off over its useful economic life of 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Short and Long Term Employee Benefits

The company recognises all forms of consideration provided by the company in exchange for services rendered by employees, or for termination of employment, as employee benefit obligations. These liabilities are recognised in the period in which the company received the services provided by the employees.

Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service.

Liabilities recognised in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the company in respect of services provided by the employees up to the reporting date.

Estimated employee benefit obligations are included in the line Provisions for Liabilities in the financial statements.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 15 (2024 - 14).

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Patents  £	Total £
Cost or valuation
At 1 January 2025	11,624	11,624
At 31 December 2025	11,624	11,624
Amortisation
At 1 January 2025	11,624	11,624
At 31 December 2025	11,624	11,624
Carrying amount
At 31 December 2025	-	-

5	Tangible assets

	Leasehold improvements £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	30,105	217,885	247,990
Additions	1,148	5,952	7,100
Disposals	-	(63,022)	(63,022)
At 31 December 2025	31,253	160,815	192,068
Depreciation
At 1 January 2025	16,808	140,237	157,045
Charge for the year	3,815	19,719	23,534
Eliminated on disposal	-	(63,022)	(63,022)
At 31 December 2025	20,623	96,934	117,557
Carrying amount
At 31 December 2025	10,630	63,881	74,511
At 31 December 2024	13,297	77,648	90,945

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

6

Debtors

	2025 £	2024 £
Trade debtors	143,094	159,230
Other debtors	4,197	15,062
Prepayments	34,412	34,533
	181,703	208,825