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REGISTERED NUMBER: 01695486 (England and Wales)

| KVM UK LIMITED |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 OCTOBER 2025 |

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

| Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |  | to |  | 7

KVM UK LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTOR: | Mr R B Jensen

| REGISTERED OFFICE: | Unit 4 Howardson Works

| Ashbourne Road

| Kirk Langley

| ASHBOURNE

| Derbyshire

| DE6 4NJ

| REGISTERED NUMBER: | 01695486 (England and Wales)

| AUDITORS: | Johnson Tidsall Limited

| Chartered Accountants

| & Statutory Auditor

| 81 Burton Road

| Derby

| Derbyshire

| DE1 1TJ

| BANKERS: | Danske Bank

| 75 King William Street

| London

| EC4N 7DT

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

BALANCE SHEET

31 OCTOBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,450 |  | 4,532 |  |

CURRENT ASSETS

Stocks | 5 | 341,841 |  | 339,537 |  |

Debtors | 6 | 623,873 |  | 718,006 |  |

Cash in hand | 110 |  | 110 |  |

965,824 |  | 1,057,653 |  |

CREDITORS

Amounts falling due within one year | 7 | 656,338 |  | 766,993 |  |

NET CURRENT ASSETS | 309,486 |  | 290,660 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 311,936 |  | 295,192 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 15,000 |  | 15,000 |  |

Retained earnings | 296,936 |  | 280,192 |  |

SHAREHOLDERS' FUNDS | 311,936 |  | 295,192 |  |

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 director and authorised for issue on 23 April 2026 and were signed by:

Mr R B Jensen - Director

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| KVM UK Limited is a private company, limited by shares , registered in England and Wales. 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.

| Financial reporting standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

| - the requirements of Section 7 Statement of Cash Flows

| Significant judgements and estimates

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| The following judgements and estimates have been made in the process of applying the company's accounting policies that have had the most significant effect on amounts recognised in the financial statements:

| Carrying value of stock - when calculating the stock provision, management considers the nature and condition of stock, together with the age of stock, and sales activity. The stock provision is £nil (2024: £nil).

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

| Sale of goods

| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of goods.

| Service visits and equipment installations

| Revenue from contracts for the provision of services and equipment installations is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

| Commissions

| Turnover from commissions is recognised when the amount can be reliably calculated on sales made by group companies when they have been completed with customers in the UK.

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Improvements to property | - | 10% on cost

| Fixtures and fittings | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

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

| Stocks

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

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in the profit and loss account.

| 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 during the year are translated into sterling at the rate of exchange advised by the holding company. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 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.

| Trade debtors

| Trade debtors are initially recognised at transaction price less allowances for situations where recovery is doubtful. Such allowances are based on an individual assessment of each debtor.

| Trade creditors

| Trade creditors are measured at transaction price. The price that the company pays suppliers for goods is determined through negotiations with suppliers regarding both the list price and a variety of discounts.

| Investments

| Investments are included at fair value. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

| Cash and cash equivalents

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2024 - 10 ) .

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | and |  | Computer |

| property |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 November 2024 | 27,274 |  | 14,941 |  | 28,159 |  | 70,374 |  |

| Additions | - |  | - |  | 823 |  | 823 |  |

| At 31 October 2025 | 27,274 |  | 14,941 |  | 28,982 |  | 71,197 |  |

| DEPRECIATION

| At 1 November 2024 | 27,274 |  | 14,517 |  | 24,051 |  | 65,842 |  |

| Charge for year | - |  | 290 |  | 2,615 |  | 2,905 |  |

| At 31 October 2025 | 27,274 |  | 14,807 |  | 26,666 |  | 68,747 |  |

| NET BOOK VALUE

| At 31 October 2025 | - |  | 134 |  | 2,316 |  | 2,450 |  |

| At 31 October 2024 | - |  | 424 |  | 4,108 |  | 4,532 |  |

5. | STOCKS

2025 | 2024 |

£ | £ |

| Finished goods | 341,841 |  | 339,537 |  |

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 612,396 |  | 704,407 |  |

| Corporation tax | - |  | 1,357 |  |

| Prepayments and accrued income | 11,477 |  | 12,242 |  |

623,873 |  | 718,006 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 86,326 |  | 87,053 |  |

| Trade creditors | 33,831 |  | 28,673 |  |

| Amounts owed to group undertakings | 293,123 |  | 455,042 |  |

| Corporation tax | 41,355 |  | - |  |

| Social security and other taxes | 7,601 |  | 3,711 |  |

| VAT | 144,872 |  | 144,517 |  |

| Other creditors | 30,732 |  | 28,832 |  |

| Accruals and deferred income | 18,498 |  | 19,165 |  |

656,338 |  | 766,993 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 86,326 |  | 87,053 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 13,000 | Ordinary Non-Voting | £1 | 13,000 |  | 13,000 |  |

| 2,000 | Ordinary Voting | £1 | 2,000 |  | 2,000 |  |

15,000 |  | 15,000 |  |

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

| The Report of the Auditors was unqualified.

| David Mellor FCA (Senior Statutory Auditor)

| for and on behalf of Johnson Tidsall Limited

11. | OTHER FINANCIAL COMMITMENTS

| At 31 October 2025 the company had commitments under operating leases for equipment totalling £10,008 (2024: £13,344) and vehicles totalling £44,088 (2024: £39,019).

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

12. | 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 within the group.

| KVM UK Limited is a wholly owned subsidiary of KVM A/S registered in Denmark. Consolidated financial statements, of which KVM UK Limited forms a part, are publicly available at Industrivej 24, 8620 Kjellerup, Denmark.

| The ultimate holding company is Zefyr Invest I A/S, incorporated in Denmark.