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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
Next Generation Data Infrastructure 1 Limited (the "Company") is a holding company.
The Company is a private company limited by shares and is incorporated in the United Kingdom and domiciled in England. The address of its registered office is 2 Old Bath Road, Newbury, Berkshire, RG14 1QL.
2.Accounting policies
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The Company's functional and presentation currency is GBP.
The following principal accounting policies have been applied:
During the period, the directors resolved to change the company's accounting reference date. As a result, these financial statements cover a 14 month period ended 28 February 2026. The comparative figures relate to the 12 month period ended 31 December 2024 and, accordingly, are not directly comparable to the current period.
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Vantage Valkyrie BidCo S.a.r.l as at 31 December 2025 and these financial statements may be obtained from Bâtiment C2, 2 Rue Peternelchen, L-2370 Howald, Luxembourg.
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
The Directors have assessed the ability of the Company to continue as a going concern for the 12 month period from the date of approval of these financial statements, covering the period to 31 July 2027. As part of this assessment, the Directors reviewed the Company’s financial position and discussed with Group management the funding facilities and financial resources available across the wider Group.
The Company meets its working capital requirements through support from the wider Group. The Directors have also received a letter of support from the parent company, Vantage Valkyrie BidCo S.à r.l., confirming that sufficient financial support will be made available to enable the Company to continue its operations and meet its liabilities as they fall due through to 31 July 2027. Based on the support available from the wider Group, the letter of support received from the parent company, and the discussions held with Group management regarding the resources and facilities available at Group level, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors have prepared the financial statements on the going concern basis.
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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.
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 and 12 of FRS 102 to all of its financial instruments.
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 from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 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 the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 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. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are not considered to be any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
7.Taxation (continued)
There were no factors that may affect future tax charges.
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
During the period, the Company completed a reduction of capital under section 642 of the Companies Act 2006. As part of this transaction, the balance on the Capital contribution reserve of £183,081,000 and share capital of £15,450,000 were cancelled and transferred to retained earnings.
The capital reduction was approved by a special resolution of the shareholders.
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NEXT GENERATION DATA INFRASTRUCTURE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2026
Capital contribution reserve
The immediate parent company is Vantage Data Centers UK Bidco Limited, a company incorporated in
England and Wales. The smallest and largest group to consolidate these financial statements is Vantage Valkyrie BidCo S.a.r.l., a company incorporated in Luxembourg. Copies of the Vantage Valkyrie BidCo S.a.r.l. consolidated financial statements may be obtained from: Bâtiment C2 2 Rue Peternelchen L-2370 Howald Luxembourg The ultimate parent company and controlling party is Vantage Valkyrie JV LuxCo SCSp, a Special Limited Partnership incorporated in Luxembourg.
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