Leaseweb 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.

The address of its registered office is:
2 Kingdom Street
London
W2 6BD
United Kingdom

Principal activity

The principal activity of the Company is the provision of services in the internet infrastructure market.

These financial statements were authorised for issue by the director on 13 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.

Going concern

The company made a profit in the year and has net significant current liabilities. The company is dependent on the support from the group to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

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 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.

Leaseweb UK Limited

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

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 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.

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
Plant and machinery	Straight-lined over 5 years
Office equipment	Straight-lined over 5 years

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
IP Patents	Straight-lined over 10 - 20 year

Leaseweb UK Limited

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

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
 

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

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.

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.

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.

Leaseweb UK Limited

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

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.

Share based payments

The Company operates a stock unit compensation plan to certain employees, under which the employees receive shares in the company's parent undertaking. Restricted stock unit arrangements are measured at fair value at the date of grant with cash settled restricted stock units subsequently remeasured to the fair value at each reporting date. The fair value is expensed on a straight-line basis over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. The amount recognised as an expense is adjusted to reflect the actual number of restricted stock units that will vest.

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

Key sources of estimation uncertainty

Fixed Assets Depreciation

The annual depreciation charge for tangible fixed assets is sensitive to changes in the useful economic
lives and residual values of the assets. The useful lives and residual values are re-assessed annually. The carrying amount of accumulated depreciation is £7,601,563 (2024: £6,357,628).

Fair value remeasurement of cash-settled restricted stock units

Cash-settled restricted stock unit payment transactions are remeasured at each reporting date to the fair
value of the liability up until the liability is settled, with any changes being reported in the profit or loss. The carrying amount of the restricted stock unit liability is £94,993 (2024: £98,725).

Leaseweb UK Limited

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

4	Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 13 July 2026 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5	Other operating income

Other operating income relates to licensing fee remuneration received in the year from Leaseweb IP B.V of £654,699 (2024: £480,421) and a settlement from a lawsuit regarding a competitor infringing upon competition law of £127,264 (2024: £151,500).

6	Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 10 (2024 - 11).

7	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 January 2025	71,102	71,102
At 31 December 2025	71,102	71,102
Amortisation
At 1 January 2025	17,614	17,614
Amortisation charge	5,564	5,564
At 31 December 2025	23,178	23,178
Carrying amount
At 31 December 2025	47,924	47,924
At 31 December 2024	53,488	53,488

Leaseweb UK Limited

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

8	Tangible assets

	Long leasehold land and buildings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	135,134	9,092,738	28,391	9,256,263
Additions	3,144	1,849,720	-	1,852,864
Disposals	-	(96,286)	(1,328)	(97,614)
At 31 December 2025	138,278	10,846,172	27,063	11,011,513
Depreciation
At 1 January 2025	33,783	6,306,538	17,308	6,357,629
Charge for the year	69,139	1,233,359	3,241	1,305,739
Eliminated on disposal	-	(61,053)	(753)	(61,806)
At 31 December 2025	102,922	7,478,844	19,796	7,601,562
Carrying amount
At 31 December 2025	35,356	3,367,328	7,267	3,409,951
At 31 December 2024	101,351	2,786,200	11,085	2,898,636

9

Debtors

Current	Note	2025 £	2024 £
Trade debtors		160,425	185,605
Amounts owed by related parties		10,889,694	9,477,423
Prepayments		305,498	452,859
Other debtors		902,730	599,069
		12,258,347	10,714,956

Included in the amounts owed by related parties is an inter-company loan to the value of £9,638,565, which earns interest at 5.2%. The loan is repayable on demand.

Leaseweb UK Limited

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

10

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		227,230	1,376,299
Amounts owed to related parties		16,653,336	13,004,174
Accruals and deferred income		815,076	1,099,362
Other creditors		60,141	148,829
		17,755,783	15,628,664

Included in amounts due to related parties are inter-company loans to the value of £16,407,476 and incur interest at 5%. These loans are repayable on demand.

11	Share-based payments

Restricted stock unit plan

Ocom B.V. (the ultimate parent company of Leaseweb UK Limited) operates a restricted stock unit long term incentive scheme for employees of the group.

The restricted stock units granted under the plan all have vesting periods of three years with the only vesting condition being continued employment.

If employment is terminated unless under exceptional circumstances the stock units which have not vested will lapse automatically on the date of termination of employment.

The scheme is considered to be cash settled with the fair values of the restricted stock units being reassessed each year.

12	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	17,945	17,945	17,945	17,945

13

Dividends

No dividends were paid or declared in the year (2024: £nil).

Leaseweb UK Limited

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

14	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	706,886	357,867
Later than one year and not later than five years	464,564	424,098
	1,171,450	781,965

15	Parent and ultimate parent undertaking

The Company's immediate parent is Leaseweb Global B.V., incorporated in The Netherlands.

The ultimate parent is Ocom B.V., incorporated in The Netherlands.