Company No: 07258568 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Matthew Healey

REGISTERED OFFICE	Unit 24 Basepoint Business Centre
	Yeoford Way Marsh Barton Trading Estate
	Exeter
	EX2 8LB
	United Kingdom

COMPANY NUMBER

07258568 (England and Wales)

AUDITOR	Gravita Audit Western Limited
	Statutory Auditor
	Keble House
	Southernhay Gardens
	Exetor
	Devon
	EX1 INT

	Note	31.12.2025		31.03.2025
		£		£
Fixed assets
Intangible assets	4	562,251		656,914
Tangible assets	5	443,583		475,413
		1,005,834		1,132,327
Current assets
Debtors	6	589,013		5,753,582
Cash at bank and in hand		1,953,995		750,800
		2,543,008		6,504,382
Creditors: amounts falling due within one year	7, 12	( 1,645,971)		( 1,517,896)
Net current assets		897,037		4,986,486
Total assets less current liabilities		1,902,871		6,118,813
Creditors: amounts falling due after more than one year	8	( 308,620)		( 423,752)
Provision for liabilities	9	( 84,680)		( 84,680)
Net assets		1,509,571		5,610,381
Capital and reserves
Called-up share capital		832		832
Capital redemption reserve		168		168
Profit and loss account		1,508,571		5,609,381
Total shareholder's funds		1,509,571		5,610,381

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Hosted Desktop UK Limited (registered number: 07258568) were approved and authorised for issue by the Director on 21 September 2026. They were signed on its behalf by:

Matthew Healey Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hosted Desktop UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The principal place of business is the registered office.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts

Reporting period length

The Current period is a short period with the reporting period length of nine months starting from 1st April 2025 to 31 December 2025 and the prior period was a year from 1 April 2024 to 31 March 2025 therefore the comparatives included in these financial statements are not entirely comparable.

The decision was made to shorten the year end to align it with other group members.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received, or receivable, for the sale of goods and provision of services in the ordinary course of the Company's activities. Turnover is shown as a net of sales/value added tax, returns, rebates, and discounts.

The Company recognises revenue when:
* The amount of revenue can be reliably measured; and
* It is probable that the economic benefits associated with the transaction will flow to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	12 years straight line
Other intangible assets	3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the cost of acquisition over the company's interest in the net fair value of identifiable assets, liabilities, and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued at the closing rate at each reporting date.

The goodwill currently shown in the accounts is being amortised over its useful life of 12 years. The directors have considered this rate taking into account current and expected churn rates and believe that this rate is reasonable.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and impairment losses. Cost includes the purchase of extended warranties on equipment that is integral to the operation of the business. The directors believe that this more fairly reflects the true cost of the equipment as extended warranties are in reality essential. These costs are therefore depreciated over the duration of the warranty, rather than the expenditure being released to the profit and loss account over the duration. Annual profitability is unaffected by this amendment.

The cost of tangible assets includes directly attributable incremental costs incurred in acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery	5 years straight line
Fixtures and fittings	20 % reducing balance
Computer equipment	5 years straight line

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme are charged to profit or loss in the period to which they relate.

2. Critical accounting judgements and key sources of estimation uncertainty

Other than depreciation, amortisation and deferred tax which are already covered above in the accounting policies note the key estimates and judgements included in the financial statements are:
Accruals and prepayments which are based on information available at the time of approval of the financial statements

3. Employees

	9 month period to 31.12.2025		Year ended 31.03.2025
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	31		31

4. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 April 2025	621,598		398,690		1,020,288
At 31 December 2025	621,598		398,690		1,020,288
Accumulated amortisation
At 01 April 2025	291,669		71,705		363,374
Charge for the financial period	38,069		56,594		94,663
At 31 December 2025	329,738		128,299		458,037
Net book value
At 31 December 2025	291,860		270,391		562,251
At 31 March 2025	329,929		326,985		656,914

5. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2025	3,222,545		15,006		85,515		3,323,066
Additions	92,451		0		5,755		98,206
At 31 December 2025	3,314,996		15,006		91,270		3,421,272
Accumulated depreciation
At 01 April 2025	2,760,999		13,897		72,757		2,847,653
Charge for the financial period	123,806		234		5,996		130,036
At 31 December 2025	2,884,805		14,131		78,753		2,977,689
Net book value
At 31 December 2025	430,191		875		12,517		443,583
At 31 March 2025	461,546		1,109		12,758		475,413

6. Debtors

	31.12.2025		31.03.2025
	£		£
Trade debtors	100,151		153,303
Amounts owed by Group undertakings	200,000		5,309,087
Corporation tax	47,276		0
Other debtors	241,586		291,192
	589,013		5,753,582

7. Creditors: amounts falling due within one year

	31.12.2025		31.03.2025
	£		£
Trade creditors	507,399		608,960
Amounts owed to Group undertakings	126,726		18,010
Accruals and deferred income	395,496		212,285
Taxation and social security	395,809		412,088
Obligations under finance leases and hire purchase contracts	220,040		249,657
Other creditors	501		16,896
	1,645,971		1,517,896

8. Creditors: amounts falling due after more than one year

	31.12.2025		31.03.2025
	£		£
Obligations under finance leases and hire purchase contracts	308,620		423,752

9. Provision for liabilities

	31.12.2025		31.03.2025
	£		£
Deferred tax	84,680		84,680

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.12.2025		31.03.2025
	£		£
Within one year	220,040		249,657
Between one and five years	308,620		423,752
	528,660		673,409

11. Related party transactions

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.

12. Secured Debts

Hire purchase liabilities are secured over the asset to which the liability relates.

13. Audit Opinion

Under section 444(5B) of the Companies Act 2006, the auditor's report on the accounts for the financial year ended 31 December 2025 was unqualified.

The audit report was signed by Jade Quaintance FCA BA on behalf of Gravita Audit Western Limited, Chartered Accountants.

14. Ultimate controlling party

The Company's immediate parent is Icon Bidco Ltd, a company incorporated in England and Wales. Its registered office is Unit 24 Basepoint Business Centre, Yeoford Way, Marsh Barton Trading Estate, Exeter, Devon, EX2 8LB.

The immediate parent is Lumulo Ltd, a company incorporated in England and Wales. Its registered office is Unit 24 Basepoint Business Centre, Yeoford Way, Marsh Barton Trading Estate, Exeter, Devon, EX2 ALB.

The ultimate controlling party is Your.Cloud UK Holding Limited.