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Registered number: 03008226
GHX UK LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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GHX UK LTD
REGISTERED NUMBER: 03008226
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2026.
The notes on pages 3 to 10 form part of these financial statements.
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GHX UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Capital redemption reserve
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Comprehensive income for the year
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Contributions by and distributions to owners
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Comprehensive income for the year
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The notes on pages 3 to 10 form part of these financial statements.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
GHX UK Ltd is a private company limited by shares, incorporated in England and Wales with a company registration number of 03008226. The registered office is The Bradfield Centre, 184 Cambridge Science Park, Milton Road, Cambridge, England, CB4 0GA. The company's principal activity is that of computer development and support services.
The financial statements are rounded to the nearest £.
2.Accounting policies
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Basis of preparation of financial statements
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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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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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).
This information is included in the consolidated financial statements of GHX Ultimate Parent Corporation as at 31 December 2025 and these financial statements may be obtained from https://www.temasek.com .sg/en/our-financials /group-financials.
During the year ended 31 December 2025 the Company made a profit before tax of £655,330, and at the balance sheet date had net assets of £3,444,575 including net current assets of £3,524,848. The directors consider the Company to be in a strong financial position.
The directors have considered a period of at least 12 months from the date of approving these financial statements and have identified no material uncertainties with regards to going concern.
The Company is reliant upon the services provided by fellow group companies, however at the time of approval of these financial statements, the directors are not aware of any conditions which indicate that the group will cease providing these services.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at invoice price, excluding sales taxes and compromises of both the sale of goods and services.
Revenue is categorised into 4 main streams: implementation, integration, subscription and consulting.
Implementation and integration fees are recognised as follows: 70% on the date the services 'Go Live' and 30% spread straight line over the length of the service contract. This is to reflect the pattern of the costs incurred in relation to those services.
Subscription revenue is recognised straight line over the length of the contract.
Revenue from consulting services is recognised at the time the service is performed.
Interest income is recognised in profit or loss using the effective interest method.
The company contributions to the directors and staff group personal pension scheme, and the pension charge in the profit and loss account represents the amount paid by the company to the scheme in repsect of the year. The assets of the scheme are held separately from those of the company in independently administered funds in the names of the staff member.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive
obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate
can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware
of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure
required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, 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. The following have had the most significant effect on amounts recognised in the financial statements:
Impairment of debtors
Management reviews its loans and receivables for objective evidence of impairment on a frequent basis. Management makes judgment as to whether there is observable data indicating that there has been a significant change in the payment ability of the debtor, or whether there have been significant changes with adverse effect in the market that the debtor operates in. See note 9.
Where there is objective evidence of impairment, management makes judgments as to whether an impairment loss should be recorded as an expense. In determining this, management uses estimates based on historical loss experience for assets with similar credit risk characteristics. The methodology and assumptions used for estimating both the amount and timing of future cash flows are reviewed regularly to reduce any differences between the estimated loss and actual loss experience.
Recognition of implementation and integration revenue
Implementation and integration fees are recognised as follows: 70% on the date the services 'Go Live' and 30% spread straight line over the length of the service contract. This is to reflect the pattern of the costs incurred in relation to those services.
Unbilled revenue
Unbilled revenue is recognised to reflect the difference between the point of revenue recognition, and the timing of related customer invoices. Management assess whether these balances are recoverable based on the progress of contract renewals and discussion with the client services team. See note 9.
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The average monthly number of employees, including directors, during the year was 49 (2024 - 43).
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Due after more than one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free, and have no fixed date of repayment.
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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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Allotted, called up and fully paid
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7,500 (2024 - 7,500) Ordinary shares of £0.10 each
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Capital redemption reserve
The capital redemption reserve is a non-distributable reserve which represents the nominal value of shares redeemed or repurchased out of distributable profits, in accordance with the Companies Act 2006.
Profit and loss account
Profit and loss account represents cumulative profits or losses, net of dividends paid.
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GHX UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company contributes to the directors and staff group personal pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds in the names of the staff member. The pension cost charge represents contributions payable by the company to the fund and amounted to £535,291 (2024: £405,130). Contributions of £nil (2024: £nil) were payable to the fund at the balance sheet date.
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Post balance sheet events
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Subsequent to the year end, the majority of shares of Nexus Topco LP, the ultimate parent undertaking of the group, were acquired by The Veritas Capital Fund VIII, L.P. As a result, The Veritas Capital Fund VIII, L.P. became the ultimate parent undertaking of the Company. This event did not give rise to conditions existing at the balance sheet date and therefore has not been reflected in the financial statements for the year ended 31 December 2025.
The smallest group in which the results of the company are consolidated is that headed by GHX Ultimate Parent Corporation. The address of GHX Ultimate Parent Corporation's registered office is 1209, Orange St, Wilmington, 19801, United States.
The ultimate parent undertaking was Temasek Holdings (Private) Limited. The address of Temasek Holdings (Private) Limited's registered office is 60B Orchard Road, #06-18 Tower 2, The Atrium@Orchard, Singapore 238891.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 25 September 2026 by Stephan Schmitt BFP FCA (Senior Statutory Auditor) on behalf of Price Bailey LLP.
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