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Registered number: 03775981 VIZRT UK LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
VIZRT UK LIMITED CONTENTS
| Page
Company information | 1
Balance sheet | 2
Notes to the financial statements | 3 - 9
VIZRT UK LIMITED COMPANY INFORMATION
Directors | P A C Milet
| R Nagarajan
Registered number | 03775981
Registered office | 110 New Bridge Street
| London
| EC4V 6JL
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:03775981
VIZRT UK LIMITED BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets | 4 |  |  |  |
Tangible assets |  |  | 252,198 |  | 357,537
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 5 | 521,855 |  | 89,076 |
Debtors: amounts falling due within one year | 5 | 6,502,285 |  | 5,156,307 |
Cash at bank and in hand |  | 180,493 |  | 54,384 |
|  | 7,204,633 |  | 5,299,767 |
Creditors: amounts falling due within one year | 6 | (2,425,265) |  | (1,027,851) |
Net current assets |  |  | 4,779,368 |  | 4,271,916
Total assets less current liabilities |  |  | 5,031,566 |  | 4,629,453
Net assets |  |  | 5,031,566 |  | 4,629,453
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 120 |  | 120
Share premium account |  |  | 1,072,980 |  | 1,072,980
Profit and loss account |  |  | 3,958,466 |  | 3,556,353
Total equity |  |  | 5,031,566 |  | 4,629,453
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 profit and loss account 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:
P A C Milet
Director
Date: 6 July 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
VIZRT UK Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 110 New Bridge Street, London, United Kingdom, EC4V 6JL. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 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. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company acts as the UK distributor for VIZRT group and as such is inextricably linked, both operationally and financially, to the group. The company has received a letter of financial support from its ultimate parent company for a period of at least twelve months from the date on which these financial statements are signed. The group has external borrowings, with significant headroom on its revolving credit facility at 31 December 2025 and post year end. There have been no breaches in covenants on its external borrowings during the year or post year end. The directors are confident external borrowings will remain in place to fund the group for the foreseeable future and the group will continue to meet any covenants in place. Having considered post year end trading and the financial results of the group and group cash reserves, and after making enquiries of the directors of the parent undertaking, the directors have a reasonable expectation that the company and the group have adequate resources to continue in operational existence and meet their liabilities for the foreseeable future, and being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax. Revenue from contracts to provide sales and marketing services to the parent company is recognised in the period in which the services are provided.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | 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. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | Over the term of the lease.
|  |  |  | Fixtures and fittings | - | 20%
|  |  |  | Computer equipment | - | 33%
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.
| 2.6 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Page 4
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued) Financial instruments (continued) Financial liabilities Basic financial liabilities, including trade and other creditors, loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
| 2.7 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Share capital
Ordinary shares are classified as equity.
| 2.9 | 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.
| 2.10 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.11 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 5
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.12 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is Sterling (£). 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 except when deferred in other comprehensive income as qualifying cash flow hedges. All foreign exchange gains and losses are presented in profit or loss within 'Interest receivable and similar income'.
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. 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. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 6
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 46 (2024 - 40).
4. | Tangible fixed assets
|  | Leasehold improvements | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 January 2025 | 489,115 | 15,380 | 299,653 | 804,148
| Additions | - | - | 26,810 | 26,810
| At 31 December 2025 | 489,115 | 15,380 | 326,463 | 830,958
| Depreciation |  |  |  |
| At 1 January 2025 | 179,067 | 15,380 | 252,164 | 446,611
| Charge for the year | 98,878 | - | 33,271 | 132,149
| At 31 December 2025 | 277,945 | 15,380 | 285,435 | 578,760
| Net book value |  |  |  |
| At 31 December 2025 | 211,170 | - | 41,028 | 252,198
| At 31 December 2024 | 310,048 | - | 47,489 | 357,537
Page 7
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 521,855 | 89,076
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | 6,122,175 | 4,971,064
| Other debtors | 133,113 | 41,579
| Prepayments and accrued income | 223,444 | 76,086
| Deferred taxation | 23,553 | 67,578
|  | 6,502,285 | 5,156,307
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand. Other debtors due after more than one year includes directors loans in the amount of £521,855 (2024: £nil). Refer to Note 9 for further details.
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 131,603 | 90,294
| Amounts owed to group undertakings | 4,056 | 2,723
| Corporation tax | 79,557 | 147,146
| Other taxation and social security | 301,849 | 183,506
| Accruals and deferred income | 1,908,200 | 604,182
|  | 2,425,265 | 1,027,851
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 120,000 (2024 - 120,000) Ordinary shares of £0.001 each | 120 | 120
Page 8
VIZRT UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Commitments under operating leases
| At 31 December 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 55,673 | 222,690
| Later than 1 year and not later than 5 years | - | 51,390
|  | 55,673 | 274,080
9. | Related party transactions
| The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. During the year, the company entered into loan transactions with two directors. Loans of EUR 300,000 were advanced to each director. The loans are interest-bearing, with interest charged at differing rates. Repayment is contingent on the occurrence of specified events, including an exit, or otherwise in accordance with the terms of the respective agreements. The loans are secured against the directors’ equity interests in another group company. At the year end, the total amount outstanding in respect of directors’ loans was £521,855 (2024: £ nil). There were no waivers or write-offs of directors’ loans during the year.
10. | Post balance sheet events
On 21 January 2026, the company entered into a lease for new office premises in London. This represents a non-adjusting post balance sheet event and no adjustment has been made to the financial statements as at 31 December 2025.
11. | Parent undertaking
The company's immediate parent undertaking is Virzt AG, a company limited by shares incorporated in Switzerland. The smallest group for which consolidated financial statements are drawn up is headed by Confine Visual TopCo AB whose registered office address is Lilla Bantorget 15, 4th floor, 111 23 Stockholm, Sweden.
12. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 6 July 2026 by Nils Schmidt-Soltau FCA (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 9