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Financial Statements
Care IT Services Limited
For the year ended 31 December 2025
Registered number: 03516193
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Company information
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Oakwood Corporate Secretary Limited (resigned 28 February 2025)
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Chartered Accountants & Statutory Auditors
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Contents
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Directors' responsibilities statement
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Independent auditor's report
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Statement of comprehensive income
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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Directors' report
For the year ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The principal activities of the Care IT Services Limited (the Company) throughout the year were the development and sale of computer software, maintenance, training and consultancy services.
During the year, the Company had a net profit of £197,133 (10 month period ended 31 December 2024 - loss £17,548) and net assets of £1,224,589 (10 month period ended 31 December 2024 - £1,027,456).
The profit for the year, after taxation, amounted to £197,133 (10 month period ended 31 December 2024 - loss £17,548).
The directors of the Company did not propose the payment of a dividend for the year (2024 - £64,000). Subsequent to year end, the directors proposed a dividend of £1.2 million to the shareholder, subject to formal declaration after the reporting date.
The directors who served during the year were:
The directors do not envisage any substantial changes to the nature of the business in the foreseeable future.
Research and development activities
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The Company did not engage in any research and development activities during the year (2024 - £Nil).
Disclosure of information to auditor
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Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Page 1
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Director's report (continued)
For the year ended 31 December 2025
The results of the Company for the year ended 31 December 2025 show turnover of £914,607 (10 month period ended 31 December 2024 - £1,480,254). The Company generated a profit after taxation for the year of £197,133 (10 month period ended 31 December 2024 - loss after taxation of £17,548). Shareholders’ funds at the end of the year amounted to £1,224,589 (2024 - £1,027,456). The Company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate on its own account for the foreseeable future. During the year, GS Acquisitionco, Inc. has committed to continue to provide financial support in order to facilitate the ongoing activities of the Company, for a period of at least twelve months from the date of approval of these financial statements.
Considering the factors mentioned above, the Directors have a reasonable expectation that the Company will have sufficient financial resources available to it to continue in operational existence for the foreseeable future. Therefore, the Directors have concluded it is appropriate to prepare the financial statements on the going concern basis.
Post balance sheet events
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Subsequent to the year end, the directors resolved to declare a dividend of £1.2 million to the shareholder. The dividend had not been declared at the reporting date and accordingly no liability has been recognised in these financial statements as at 31 December 2025. The dividend will be formally approved in conjunction with the authorisation of these financial statements for issue.
There were no other subsequent events requiring adjustment to or disclosure in the financial statements.
The auditor, Grant Thornton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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John-Henry Fredrik Liepe
Director
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Page 2
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Directors' responsibilities statement
For the year ended 31 December 2025
The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are 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.
For and on behalf of the board:
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John-Henry Fredrik Liepe
Director
Date: 28 September 2026
Page 3
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Independent auditor's report to the members of Care IT Services Limited
We have audited the financial statements of Care IT Services Limited (the Company), which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the financial year ended 31 December 2025, and the related notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in the 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, Care IT Services Limited's financial statements:
∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2025 and of its financial performance for the financial year then ended; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
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 'Responsibilities of the auditor 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 United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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
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In auditing the financial statements, we have concluded that the directors' 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 the date when the financial statements are authorised for issue.
Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.
Page 4
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Independent auditor's report to the members of Care IT Services Limited (continued)
Other information comprises the information included in the Annual Report, other than the financial statements and our auditor's report thereon, including the Directors' report . The directors are responsible for the other information. Our opinion on the financial statements does not cover the 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements, and
∙the Directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report .
We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a Strategic report or in preparing the Directors' report.
Page 5
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Independent auditor's report to the members of Care IT Services Limited (continued)
Responsibilities of management and those charged with governance for the financial statements
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As explained more fully in the Director's responsibilities statement, management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is 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, management 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company's financial reporting process.
Responsibilities of the auditor for the audit of the financial statements
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The objectives of an auditor 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 an auditor's report that includes their 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.
A further description of an auditor's 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 auditor's report.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Employment laws, Data Protection laws, Health and Safety Regulation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as UK tax legislation and company law. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the term had appropriate competence and capability to identify or recognise non-compliance with laws and regulations. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions.
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Independent auditor's report to the members of Care IT Services Limited (continued)
Responsibilities of the auditor for the audit of the financial statements (continued)
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)
We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
In response to these principal risks, our audit procedures included but were not limited to:
∙inquiries of management and board on the policies and procedures in place regarding compliance with laws and
∙regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
∙inspection of the legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made;
∙gaining an understanding of the entity's current activities, the scope of authorisation and the effectiveness of its control environment to investigate risks related to fraud;
∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
∙challenging assumptions and judgements made by management in their significant accounting estimates, including recoverability of trade debtors and amounts due by group undertakings; and
∙review of the financial statements disclosures to underlying supporting documentation and inquiries of management.
The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.
The purpose of our audit work and to whom we owe our responsibilities
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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 an auditor’s report 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.
Tracey Sullivan (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants
& Statutory Auditors
13-18 City Quay
Dublin 2
Date: 28 September 2026
Page 7
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Statement of comprehensive income
For the year ended 31 December 2025
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10 month period ended
31
December
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Interest receivable and similar income
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Profit/(loss) for the year/period
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All amounts relate to continuing operations.
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There was no other comprehensive income for 2025 (10 month period ended 31 December 2024 - £NIL).
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The notes on pages 12 to 23 form part of these financial statements.
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Page 8
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Care IT Services Limited
Registered number:03516193
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Statement of financial position
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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The financial statements have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of the FRS 102 section 1A - small entities.
Page 9
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Care IT Services Limited
Registered number:03516193
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Statement of financial position (continued)
As at 31 December 2025
The financial statement were approved and authorised for issue by the board and were signed on its behalf by:
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John-Henry Fredrik Liepe
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The notes on pages 12 to 23 form part of these financial statements.
Page 10
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Statement of changes in equity
For the year ended 31 December 2025
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Comprehensive income for the year
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Statement of changes in equity
For the period ended 31 December 2024
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Comprehensive income for the period
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The notes on pages 12 to 23 form part of these financial statements.
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Page 11
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Notes to the financial statements
For the year ended 31 December 2025
Care IT Services Limited (the Company) is a company limited by shares which is incorporated in the United Kingdom registered under the Company number 03516193 with a registered office at 15 Hanover Square 6th Floor, Lion Suite, London, England, W1S 1HS.
The principal activities of the Company throughout the year were development and sale of computer software, maintenance, training and consultancy services.
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 judgement in applying the Company's accounting policies (see note 3).
These financial statements cover the year ended 31 December 2025. The comparative figures presented are for the ten-month period ended 31 December 2024.
The following principal accounting policies have been applied:
The results of the Company for the year ended 31 December 2025 show turnover of £914,607 (10 month period ended 31 December 2024 - £1,480,254). The Company generated a profit after taxation for the year of £197,133 (10 month period ended 31 December 2024 - loss after taxation of £17,548). Shareholders’ funds at the end of the year amounted to £1,224,589 (2024 - £1,027,456). The Company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate on its own account for the foreseeable future. During the year, GS Acquisitionco, Inc. has committed to continue to provide financial support in order to facilitate the ongoing activities of the Company, for a period of at least twelve months from the date of approval of these financial statements.
Considering the factors mentioned above, the Directors have a reasonable expectation that the Company will have sufficient financial resources available to it to continue in operational existence for the foreseeable future. Therefore, the Directors have concluded it is appropriate to prepare the financial statements on the going concern basis.
Page 12
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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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.
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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Interest receivable and similar income
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Interest income is recognised in profit or loss using the effective interest method.
Page 13
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date that are expected to apply to the reversal of the timing difference.
Deferred tax liabilities are presented within 'provisions for liabilities' and deferred tax assets within 'debtors'. Deferred tax assets and liabilities are offset only when the Company has a right to set off related current tax assets and liabilities, which is generally the case for balances within the same taxable entity.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Page 14
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
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.
Debtors include trade debtors and certain other financial instruments, prepayments and deferred tax assets. 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 effective interest method, less any impairment. Prepayments are payments made for goods and services that will be received in the future. These are initially recorded as assets and amortised over time as the benefit of the prepaid expense is recognised
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Creditors include trade creditors, certain other short and long term financial instruments and deferred revenue. 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. Deferred revenue corresponds to advance payments from customers for services that have not yet been delivered or recognised as revenue.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Page 15
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
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Provisions for liabilities (continued)
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Increases in provisions are generally charged as an expense to profit or loss.
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.
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.
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.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position 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.
Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire, or when the financial asset and substantially all the risks and rewards are transferred.
Financial liabilities are derecognised when it is extinguished, discharged, cancelled or expire.
Page 16
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Notes to the financial statements
For the year ended 31 December 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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The Company makes certain estimates and assumptions regarding the future. Estimates and judgments are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. The 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 are discussed below.
Recoverability of trade debtors and amounts due by group undertakings
Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Company on terms that the Company would not consider otherwise, or indications that a debtor or issuer will enter bankruptcy.
The Company considers evidence for impairment of trade debtors and amounts owed by group undertakings at both a specific and collective level. All individually significant receivables are assessed for specific impairment. All individually significant receivables found not to be specifically impaired, together with receivables that are not individually significant are collectively assessed for impairment by grouping together receivables with similar risk characteristics.
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An analysis of turnover by class of business is as follows:
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10 month period ended
31
December
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Professional services revenue
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The directors have not provided an analysis of turnover by geographical territory as they believe that this would be prejudicial to the interests of the Company.
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Page 17
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Notes to the financial statements
For the year ended 31 December 2025
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The operating profit/(loss) is stated after charging:
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10 month period ended
31
December
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During the year, the Company obtained the following services from the Company's auditor:
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10 month period ended
31
December
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Fees payable to the Company's auditor for the audit of the Company's financial statements
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The audit fees were paid on the Company's behalf by a fellow group undertaking.
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The Company has no employees (2024 - 4) other than the directors, who did not receive any remuneration (10 month period ended 31 December 2024 - £134,922).
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Page 18
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Notes to the financial statements
For the year ended 31 December 2025
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10 month period ended
31
December
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Current tax on profits for the ten-month year/period
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Adjustments to tax charge in respect of prior periods
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Origination and reversal of timing differences
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Factors affecting tax charge for the year/period
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The tax assessed for the year/period is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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10 month period ended
31
December
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Profit/(loss) on ordinary activities before tax
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Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Expenses not deductible for tax purposes
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Adjustments to tax charge in respect of prior periods
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Total tax charge for the year/period
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
Page 19
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Notes to the financial statements
For the year ended 31 December 2025
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10 month period ended
31
December
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Charge for the ten-month period
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Page 20
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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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Amounts owed by group undertakings are unsecured, interest free, and repayable on demand.
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Page 21
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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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Trade creditors are payable at various dates within 60 days after the end of the year in accordance with the creditors usual and customary credit terms.
Creditors for tax and social insurance are payable in the timeframe set down in the relevant legislation.
Amounts owed to group undertakings are unsecured, interest free, and repayable on demand.
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Creditors: Amounts falling due after more than one year
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Fixed asset timing differences
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Page 22
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Notes to the financial statements
For the year ended 31 December 2025
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Allotted, called up and fully paid
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2 Ordinary shares of £1.00 each
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Profit and loss account
Profit and loss account represents accumulated comprehensive income for the financial year and prior financial year
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Related party transactions
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As a wholly owned subsidiary undertaking of an ultimate parent undertaking whose financial statements are publicly available, the Company has taken advantage of the exemption available under FRS 102 Section 33, Paragraph 33.1A not to disclose transactions with wholly owned members of the group.
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Post balance sheet events
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Subsequent to the year end, the directors resolved to declare a dividend of £1.2 million to the shareholder. The dividend had not been declared at the reporting date and accordingly no liability has been recognised in these financial statements as at 31 December 2025. The dividend will be formally approved in conjunction with the authorisation of these financial statements for issue.
There were no other subsequent events requiring adjustment to or disclosure in the financial statements.
The immediate parent company is Insightsoftware UK Limited, a company incorporated and registered in the UK.
The directors deem that there is no ultimate controlling party to the Company as the ultimate shareholders of the group do not exercise control over the Company.
The results are consolidated into the financial statements of GS Intermediate Inc., an intermediate parent company, the smallest and largest group company to prepare consolidated accounts. They are available from Brandywine Plaza 1521 Concord Pike, Suite 201, Wilmington, New Castle County, DE, 19803, United States.
Page 23
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