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Registered number: 14413949
















GW GLOBAL INSIGHTS MIDCO LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025
































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GW GLOBAL INSIGHTS MIDCO LIMITED
REGISTERED NUMBER:14413949

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025

2025
2024
Note
£
£

FIXED ASSETS
  

Investments
 4 
95,501
95,501

  
95,501
95,501

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
9,006,118
9,006,118

Creditors: amounts falling due within one year
 7 
(5,424,599)
(4,333,671)

NET CURRENT ASSETS
  
 
 
3,581,519
 
 
4,672,447

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,677,020
4,767,948

Creditors: amounts falling due after more than one year
 8 
(8,034,624)
(8,034,624)

  

NET LIABILITIES
  
(4,357,604)
(3,266,676)


CAPITAL AND RESERVES
  

Called up share capital 
 9 
10,000
10,000

Share premium account
  
85,501
85,501

Profit and loss account
  
(4,453,105)
(3,362,177)

  
(4,357,604)
(3,266,676)


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 income and retained earnings 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: 





Martyn Hammond
Director

Date: 12 May 2026

The notes on pages 2 to 5 form part of these financial statements.

Page 1


GW GLOBAL INSIGHTS MIDCO LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

1.


GENERAL INFORMATION

GW Global Insights Midco Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 14413949. The registered office is Trevithick House Trevissome Park, Blackwater, Truro, England, TR4 8UN.

2.ACCOUNTING POLICIES

 
2.1

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis as the directors have prepared detailed budgets for a period of 12 months from the date of signing the accounts which show that the Company is expected to be able to meet all its liabilities as they fall due.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank and other loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2


GW GLOBAL INSIGHTS MIDCO LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

 

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2024: 5).

Page 3


GW GLOBAL INSIGHTS MIDCO LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

4.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 January 2025
95,501



At 31 December 2025
95,501





5.



SUBSIDIARY UNDERTAKING



DIRECT SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

GW Global Insights Bidco Limited
Trevithick House Trevissome Park, Blackwater, Truro, Cornwall, TR4 8UN
Ordinary
100%


6.


DEBTORS

2025
2024
£
£


Amounts owed by group undertakings
9,006,118
9,006,118



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025
2024
£
£

Amounts owed to group undertakings
2,985,028
2,983,225

Accruals and deferred income
2,439,571
1,350,446

5,424,599
4,333,671


Page 4


GW GLOBAL INSIGHTS MIDCO LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025
2024
£
£

Other creditors
8,034,624
8,034,624


The loan note balance relates to £10,900,000 of loan notes with interest of SONIA + 9% that is payable quarterly. The loan notes are repayable in November 2027, 5 years after their draw down.


9.


SHARE CAPITAL

2025
2024
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000,000 (2024: 1,000,000) A Ordinary shares of £0.01 each
10,000
10,000



10.


RELATED PARTY TRANSACTIONS

As the Company is a wholly owned subsidiary of GW Global Insights Topco Limited, the Company has taken advantage of the exemption within FRS102 (section 33.12A) not to disclose transactions or balances with entities which form part of the Group. The Group accounts of GW Global Insights Topco Limited, within which the Company's results are included, are filed at the Registrar of Companies, Companies House Crown Way, Cardiff, CF14 3UZ.


11.


CONTROLLING PARTY

The Company is owned and controlled by GW Global Insights Topco Limited, which was incorporated in the United Kingdom in October 2022.


12.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 12 May 2026 by Nicola Cornish BSc BFP FCA CTA (Senior statutory auditor) on behalf of PKF Francis Clark.

 
Page 5