REGISTERED NUMBER: 04932868 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 December 2025

for

Siteimprove Limited

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

3

Income Statement

6

Other Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTOR:

M M Fitzpatrick

REGISTERED OFFICE:

City Tower

40 Basinghall Street

London

EC2V5DE

REGISTERED NUMBER:

04932868 (England and Wales)

AUDITORS:

Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company continued to be website management.

DIRECTOR

M M Fitzpatrick held office during the whole of the period from 1 January 2025 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Krogh & Partners Limited, (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M M Fitzpatrick - Director

22 September 2026

Opinion

We have audited the financial statements of Siteimprove Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the business;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

enquiring of management as to actual and potential litigation and claims;

-

reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Lindegaard (Senior Statutory Auditor)

for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

22 September 2026

TURNOVER

5,640,414

5,395,634

Administrative expenses

5,796,708

5,395,989

OPERATING LOSS

(156,294

)

(355

)

Interest receivable and similar income

4

237,368

165,734

81,074

165,379

Interest payable and similar expenses

5

1,275

3,466

PROFIT BEFORE TAXATION

79,799

161,913

Tax on profit

6

19,898

(40,285

)

PROFIT FOR THE FINANCIAL YEAR

59,901

202,198

PROFIT FOR THE YEAR

59,901

202,198

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

59,901

202,198

FIXED ASSETS

Deferred commissions

7

2,059,780

2,133,758

Tangible assets

8

208,161

369,016

2,267,941

2,502,774

CURRENT ASSETS

Debtors

9

4,518,380

2,655,967

Cash at bank

127,910

165,844

4,646,290

2,821,811

CREDITORS

Amounts falling due within one year

10

5,557,934

4,019,596

NET CURRENT LIABILITIES

(911,644

)

(1,197,785

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,356,297

1,304,989

PROVISIONS FOR LIABILITIES

11

43,000

71,000

NET ASSETS

1,313,297

1,233,989

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

1,313,296

1,233,988

SHAREHOLDERS' FUNDS

1,313,297

1,233,989

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 22 September 2026 and were signed by:

M M Fitzpatrick - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

1

1,040,308

1,040,309

Changes in equity

Total comprehensive income

-

202,198

202,198

Capital contribution for

equity-settled share-based

payments, see note 16

-

(8,518

)

(8,518

)

Balance at 31 December 2024

1

1,233,988

1,233,989

Changes in equity

Total comprehensive income

-

59,901

59,901

Capital contribution for

equity-settled share-based

payments, see note 16

-

19,407

19,407

Balance at 31 December 2025

1

1,313,296

1,313,297

1.	STATUTORY INFORMATION

Siteimprove Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared under the going concern assumption as the transfer pricing agreement is valid at least a year after the signing date of the Financial Statements. The Parent Company Group Financial Statements for 2025 have been prepared under the going concern assumption.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover from the sale of software services (subscriptions) is recognized on a straight-line basis over the contract period when the risks and rewards relating to the services have been transferred to the purchaser, and the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the company.

Turnover from the sale of professional services is recognized when the risks and rewards relating to the services have been fully or partially transferred to the purchaser, and the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the company.

Turnover is measured at the consideration received and is recognized exclusive of VAT and net of discounts relating to sales.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Intangible assets

Deferred commissions comprise incremental sales commissions directly associated with obtaining a contract with a new customer and deemed realizable through the future revenue streams under the contract. Deferred commission are initially recognized at cost at the contract acquisition date and subsequently carried at cost less accumulated amortisation and any accumulated impairment losses. Deferred commission is amortized on a straight-line basis, based on the estimated lifetime (historical churn rate) of the contract, but no more than 5 years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and less any accumulated impairment losses.

Depreciation is provided on a straight-line basis over the expected useful lives of the assets.

The expected useful life is:

Leasehold improvements 3 - 8 years

Other fixtures, furnitures and fittings 3 - 5 years

Taxation

Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computation in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognized where it is considered more likely than not that future profits will be available for offset.

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortised cost.

Share-based payments

The value of services received in exchange for equity-settled share-based payment arrangements is measured at fair value at the grant date and recognised in the income statement under staff costs with a corresponding increase in equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2024 - 60 ) .

The director of the company is also director of other companies within the Group. The director's services to the company do not occupy a significant amount of his time. As such the director does not consider that he has received any remuneration for his incidental services to the company for the year ended 31 December 2025 (2024 - £nil).

4.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Interest income

7,473

15,575

Intercompany interest

168,332

150,159

Forex movements

61,563

-

237,368

165,734

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest

1,275

1,365

Forex movements

-

2,101

1,275

3,466

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

47,898

24,040

Adjustment of current tax

regarding prior years

-

(55,325

)

Total current tax

47,898

(31,285

)

Deferred tax

(28,000

)

(9,000

)

Tax on profit

19,898

(40,285

)

7.	DEFERRED COMMISIONS

Other

intangible

assets

£

COST

At 1 January 2025

3,427,857

Additions

612,581

Disposals

(278,988

)

At 31 December 2025

3,761,450

AMORTISATION

At 1 January 2025

1,294,099

Charge for year

686,559

Eliminated on disposal

(278,988

)

At 31 December 2025

1,701,670

NET BOOK VALUE

At 31 December 2025

2,059,780

At 31 December 2024

2,133,758

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

792,744

Disposals

(59,626

)

At 31 December 2025

733,118

DEPRECIATION

At 1 January 2025

423,728

Charge for year

160,855

Eliminated on disposal

(59,626

)

At 31 December 2025

524,957

NET BOOK VALUE

At 31 December 2025

208,161

At 31 December 2024

369,016

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

878,376

626,807

Amounts owed by group undertakings

3,057,915

1,567,842

Other debtors

222,325

222,325

Prepayments and accrued income

359,764

238,993

4,518,380

2,655,967

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

381,823

24,960

Amounts owed to group undertakings

780,918

-

Tax

19,898

24,040

Social security and other taxes

178,952

235,400

VAT

171,734

83,628

Other creditors

655,558

460,755

Accruals and deferred income

3,369,051

3,190,813

5,557,934

4,019,596

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

43,000

71,000

Deferred

tax

£

Balance at 1 January 2025

71,000

Provided during year

(28,000

)

Balance at 31 December 2025

43,000

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

1

1

1

13.	CONTINGENT LIABILITIES

The company and group companies has entered into an agreement with DNB Bank ASA regarding a credit facility and has issued Letter of Debenture in all fixed and floating assets belonging to the company as security for the credit facility.

14.	OTHER FINANCIAL COMMITMENTS

At 31 December 2025 the company had commitments under non-cancellable operating leases totalling £622,510 (31 December 2024 - £1,156,090).

15.	CONTROLLING PARTY

The immediate parent undertaking is Siteimprove A/S, incorporated in Denmark.

Siteimprove A/S is the smallest group to consolidate these financial statements and copies can be obtained from:

Siteimprove A/S

Havneholmen 33, 6

1561 Copenhagen V

Denmark

16.	SHARE-BASED PAYMENT TRANSACTIONS

Capital contribution for equity-settled share-based payments relates to the share-based payment expense from the Company's immediate parent undertaking.

The group has rolled out a Global Equity Program (GEP), which is meant to benefit employees around the world.

Additional details around the program under the parent company can be found in the consolidated financial statements of Siteimprove A/S (registered in Denmark) as at 31 December 2025 under note 2.3. The consolidated financial statements of Siteimprove A/S can be found on cvr.dk.