Registration number: 14479036

IP Fabric UK Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

IP Fabric UK Limited

Company Information

Director

Pavel Bykov

Registered office

Gateley Legal 1 Paternoster Square London EC4M 7DX

Auditors

Carbon Accountancy Limited Chartered Accountants and Registered Auditors 80-83 Long Lane London EC1A 9ET

IP Fabric UK Limited

(Registration number: 14479036)
Balance Sheet as at 31 December 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	5,355	10,709
Current assets
Debtors	5	2,103,379	1,536,295
Cash at bank and in hand		472,797	993,006
		2,576,176	2,529,301
Creditors: Amounts falling due within one year	6	(449,362)	(424,443)
Net current assets		2,126,814	2,104,858
Total assets less current liabilities		2,132,169	2,115,567
Creditors: Amounts falling due after more than one year	6	(1,808,411)	(1,706,048)
Provisions for liabilities		(1,339)	(2,677)
Net assets		322,419	406,842
Capital and reserves
Called up share capital	7	100	100
Other reserves		524,945	524,945
Retained earnings		(202,626)	(118,203)
Shareholders' funds		322,419	406,842

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 July 2026
 

......................................... Pavel Bykov Director

IP Fabric 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 United Kingdom.

The address of its registered office is:
Gateley Legal
1 Paternoster Square
London
EC4M 7DX
United Kingdom

These financial statements were authorised for issue by the director on 14 July 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 currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The director considers the going concern basis to be appropriate on the assumption of continuing support from the company’s parent undertaking for a minimum of 12 months from the date of issuing these financial statements.

Prior period adjustments

Long term loans totalling previously stated at £2,077,000 and classified as due within one year have been re-stated as due after more than one year, on the basis that there is a formal loan agreement in place stipulating repayment in early 2027. As the loan is interest-free, it is restated at fair value (£1,552,055), which is the present value of expected future cash flows discounted at a market rate of interest. The resulting difference between the transaction price and the fair value is recognised as a capital contribution of £524,945. Subsequently, the loan is measured at amortised cost using the effective interest method, with the unwinding of the discount recognised as finance expense in the profit and loss account over the life of the loan. The impact on the comparative figures for finance cost in 2024 is £96,569 and accumulated profit and loss account reserves brought forward is £57,424.

Page 3

IP Fabric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover from perpetual or subscription (term-based) software licenses is recognised upon delivery. Turnover from maintenance and support services is recognised over the life of the related contract. Turnover from professional services is recognised as the work is performed. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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
Fixtures, fittings & equipmment	25% straight line

IP Fabric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

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.

Trade 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

Financial instruments

Basic financial instruments are initially recognised at the transaction price unless the arrangement constitutes a financing transaction. A financing transaction is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 
Long-term intra-group loans provided on interest-free terms are initially recognised at their fair value, which is the present value of expected future cash flows discounted at a market rate of interest. The resulting difference between the transaction price and the fair value is recognised as a capital contribution. Subsequently, the loan is measured at amortised cost using the effective interest method, with the unwinding of the discount recognised as finance expense in the profit and loss account over the life of the loan.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2024 - 10).

IP Fabric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 January 2025	21,417	21,417
At 31 December 2025	21,417	21,417
Depreciation
At 1 January 2025	10,708	10,708
Charge for the year	5,354	5,354
At 31 December 2025	16,062	16,062
Carrying amount
At 31 December 2025	5,355	5,355
At 31 December 2024	10,709	10,709

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		66,960	49,950
Amounts due from group companies	9	1,930,120	1,446,337
Prepayments		48,905	13,448
Other debtors		57,394	26,560
		2,103,379	1,536,295

IP Fabric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	(As restated) 2024 £
Due within one year
Trade creditors		3,333	10,386
Amounts due to group companies	9	61,875	58,710
Taxation and social security		22,775	45,971
Accruals and deferred income		355,205	303,268
Other creditors		6,174	6,108
		449,362	424,443

Creditors: amounts falling due after more than one year

	2025 £	(As restated) 2024 £
Due after one year
Amounts due to parent company	1,808,411	1,706,048

Represents a sterling denominated loan facility repayable in 2027.

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

IP Fabric UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	20,720	124,320

The amount of non-cancellable operating lease payments recognised as an expense during the year was £124,320 (2024 - £112,480).

9	Related party transactions

The company has taken advantage of the exemption available under FRS 102 from the requirement to disclose transactions entered into between two or more members of the group to which it belongs as all subsidiaries are wholly owned by the parent undertaking IP Fabric Inc.
 

10	Parent and ultimate parent undertaking

The company's immediate parent is IP Fabric Inc, incorporated in USA. The most senior parent entity producing publicly available financial statements is IP Fabric Inc. These financial statements are available upon request from 98 North Washington Street, Suite 407
- Boston, MA 02114

 

11	Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 14 July 2026 was John Leyden, who signed for and on behalf of Carbon Accountancy Limited.