Fujitsu Research of Europe Limited

The directors present their strategic report of Fujitsu Research of Europe Limited (“FRE” or “The Company”) for the year ended 31st March 2026

The profit for the year after tax amount to £1,295,770 (2025: profit of £1,002,083). The directors do not recommend the payment of a dividend (2025: £ nil).

The Company has the full range of skills and capabilities needed to deliver these objectives.

As an integral part of the Fujitsu Research infrastructure, the Company represents Fujitsu Research in the U.K., Europe and Israel. Close collaboration with colleagues in other parts of Fujitsu Research means that cross-cultural expertise can be harnessed within research teams comprising members from many different continents and local centres of expertise. This has resulted in significant technological successes being achieved.

During the year ended 31 March 2026, the Company continued to undertake advanced research and innovation activities across artificial intelligence, cybersecurity, advanced computing, data-centric technologies, healthcare and sustainability. These activities formed part of Fujitsu's wider global research strategy and were focused on the development of technologies designed to address societal, environmental and business challenges through responsible innovation.

The Company maintained a strong focus on trusted and responsible artificial intelligence. Research activities included improving the transparency, explainability, robustness and security of AI systems, with particular emphasis on ensuring that emerging technologies can be developed and deployed safely, ethically and in accordance with evolving regulatory expectations. The Company also contributed to collaborative initiatives and industry discussions aimed at establishing practical approaches to AI governance, trust and responsible adoption.

In cybersecurity, the Company advanced research into the protection of AI-enabled systems and next-generation digital infrastructure. Activities included technologies designed to identify and mitigate emerging cyber threats, improve automated threat detection and strengthen the resilience of AI and autonomous systems. The Company also explored methods to reduce risks associated with generative AI, including threats relating to unsafe model behaviour, malicious prompts, data leakage and increasingly sophisticated cyber-attacks.

The Company continued to invest in technologies that support secure data sharing, distributed intelligence and collaboration across organisational boundaries. Research in this area focused on privacy-preserving analytics, decentralised machine learning, trusted collaboration between intelligent systems and maintaining appropriate levels of data governance, information security and data sovereignty.

Progress was also made in advanced AI methodologies, including the integration of machine learning, knowledge representation and reasoning technologies. The Company explored approaches intended to improve the accuracy, explainability and effectiveness of intelligent systems, including applications that support software engineering productivity, automation and decision-making in complex digital environments.

The Company further developed large-scale data analytics and graph-based AI technologies capable of integrating and analysing complex information from multiple sources, including structured data, text, images, time-series information and knowledge graphs. These technologies are intended to support applications across sectors such as healthcare, finance, industrial systems and scientific research, while improving scalability, explainability and operational efficiency.

In healthcare and life sciences, the Company continued research into the application of AI and advanced analytics to clinical and genomic decision-making. Activities focused on improving the interpretation of complex healthcare data, supporting precision medicine and enabling clinicians and researchers to derive meaningful insights from increasingly large and diverse datasets. The Company worked with healthcare organisations and research institutions to evaluate technologies in real-world clinical environments and progressed selected technologies towards future commercial application.

The Company also continued research into sustainable and environmentally focused technologies. Activities included the use of advanced simulation, data analytics and digital modelling techniques to better understand transport patterns, urban systems and resource consumption. This work supports the development of technologies capable of contributing to lower carbon emissions, improved resource utilisation and more sustainable infrastructure planning.

Research into quantum technologies remained an important strategic area. The Company pursued innovation in quantum computing software and applications, including the development of new algorithms, architectures and computational methods aimed at addressing complex optimisation, scientific and data processing challenges. These activities continue to support Fujitsu's long-term ambitions in advanced computing and emerging digital technologies.

Throughout the year, the Company collaborated with universities, research institutes, healthcare organisations and industry partners across Europe and internationally. These collaborations supported the publication of research findings, generation of intellectual property, participation in funded research programmes and the advancement of technologies with the potential to deliver future societal and commercial benefits.

The performance of the Company is assessed by Board members on a regular basis. Assessment is determined based on specific Key Performance Indicators (“KPIs”).

Due to the nature of the business, the Company does not have financial KPIs, the below are what the Company considers its KPIs:

The Company performs research and development and innovation to support the mission and objectives of Fujitsu Limited. As an integral part of Fujitsu Research Global Laboratories, the Company does not perform work for non-Fujitsu organisations and relies on the securing of funding from companies within the Group, research and proof-of-business collaboration opportunities and funding grants available under open-tender European research projects.

This Strategic Report was approved by the Board of Directors on 22 October 2026 and signed on its behalf by:

The directors who held office during the financial year and up to the date of the report unless otherwise stated were as follows:

The hostilities between Israel/Palestine, Ukraine/Russia have had no supply chain impacts on the Company.

The financial statements have been prepared on a going concern basis, which the Directors have assessed to be appropriate.

R&D funding has been secured for financial year commencing 1 April 2026 and, based on management cash flow analysis prepared for the period up to March 2028, the Company is forecast to be liquid. Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for 12 months from the date of approval of these financial statements and, that there are no events nor circumstances that may cast significant doubt on the Company's ability to continue as a going concern. The directors consider the worst case scenario to be withdrawal of funding from our primary customer, from April 2027, (Current contract end date is 31st March 2027), which would lead to a negative cash balance in August 2027. This is very unlikely as the customer has a major strategic objective of having a research organisation in Europe.

The directors do not recommend the payment of a dividend (2025: nil). Therefore, the retained profit for the financial year has been transferred to reserves.

The Company has applied International Accounting Standards in conformity with the requirements of the Companies Act 2006. Under that law they have elected to prepare the financial statements in accordance with International Financial Reporting Standards.

Ernst and Young (E&Y) LLP served as auditor for financial year ended 31 March 2026.

The firm has expressed its willingness to act as auditor for year commencing 1 April 2026. This will be confirmed by resolution at the next AGM.

Statement of directors' responsibilities in respect of the Directors' Report and the financial statements

Independent auditor's report to the members of Fujitsu Research of Europe Limited

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 12 months from the date of approval of these financial statements.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.

Independent auditor's report to the members of Fujitsu Research of Europe Limited (continued)

These financial statements were approved by the board of directors on 22 October 2026 and were signed on its behalf by:

Fujitsu Research of Europe Limited with registered address at 2^nd Floor (West), The Urban Building 3-9 Albert Street, Slough, SL1 2BE (the “Company”) is a private and limited by shares company, incorporated and domiciled in the UK.

These financial statements consolidate the financial statements for the Company's operations in the UK and Spain together with the branch financial statements for the Company's operations in Israel.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

The preparation of financial statements in line with UK adopted international accounting standards, requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenditure. Estimates and underlying assumptions are reviewed on an ongoing basis and are based on management's best knowledge of the amounts, events or actions at each year end. Actual results may differ from these estimates.

Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed in Note 19.

These financial statements have been prepared in accordance with UK adopted international accounting standards. The accounting policies are disclosed in Note 2.

The financial statements are prepared on the historical cost basis except that the assets and liabilities such as accounts receivables and accounts payables are stated at their fair value.

Depreciation is charged to the income statement on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment. The estimated useful lives are as follows:

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date.

The average number of persons employed by the Company (including directors) during the year, analysed by category, was as follows:

The entity has a bank guarantee facility amounting to €70,000 which is undrawn as of the date of approval of these financial statements. The entity is charged 1.5% fee p.a. for management of this facility.

The Company operates a defined contribution pension plan (Fujitsu Group Personal Pension Plan). The total pension cost charged to income statement in the current year was £347,122 (2025:£304,554). There are no prepayments or amounts outstanding at the year end (2025: £nil).

The Company's financial instruments comprise cash, short-term deposits, trade receivables and trade payables that arise directly from the Company's trading operations.

At the balance sheet date, the interest rate profile of the Company's interest-bearing financial instruments was as follows:

The compensation of key management personnel (including the directors) is as follows:

Revenue from customers comprises revenue from intra-group organisations. Changing economic factors have no impact on receipts. Revenue from contracts with customers has been disaggregated by region and customer below:

Sales to Fujitsu Limited comprise fees under contracts for research and development for Fujitsu Group Companies.

All receivables and payables are subject to standard terms of 30 days, the company has a low risk of bad debt as it transacts with other group companies.

There is one source of revenue as set out below. Revenue recognition is set out in Note 1

All revenue of the Company is derived from contracts with related parties. In the following table, revenue is disaggregated by geographical market. The Company is primarily organised and managed by geography as presented below:

The Company is a subsidiary undertaking of Fujitsu Limited, incorporated in Japan. Fujitsu Limited is the immediate parent company and controlling party.

V.1.0 FINTAGS 01 April 2025 31 March 2026 31 March 2026 true true false true Other research and experimental development on natural sciences and engineering The Company recognises right-of-use assets at the commencement date of the lease. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The Company applies a single recognition and measurement approach for all leases. For the initial recognition, the Company takes into consideration the Company's materiality policy for the recognition of new contract's right of use asset and lease liability. The rentals related to operating lease commitments that are not recognised in the Statement of Financial Position based on the Company's materiality applied, are charged to the Statement of Profit or Loss on a straight-line basis over the lease term. Lease incentives received are recognised in the Statement of Profit or Loss as an integral part of the total lease expense. The Company includes the renewal period as part of the lease term for leases of buildings that are within its notice period and that a renewal is very likely or if new date is known at the balance sheet date. Otherwise, period extension is included once contract renewal is signed. where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments. Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognised in profit or loss. Any gain or loss on de-recognition is also recognised in profit or loss. Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. 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Contents

Directors and Advisors	1

Strategic Report	2

Directors' Report	6

Statement of directors' responsibilities in respect of the Directors' Report and the financial statements	8

Independent auditor's report to the members of Fujitsu Research of Europe Limited	9

Income Statement	12

Statement of Comprehensive Income	12

Balance Sheet	13

Statement of Changes in Equity	14

Cash Flow Statement	15

Notes	16

•	Contribute region-specific innovation initiatives which support the Fujitsu ethos of the application of human centric innovation and cutting-edge technologies underpinned by trusted and ethical innovation to solve social challenges and drive the evolution of social transformation.

•	Undertake ground-breaking research and development, underpinned by the core values of corporate social responsibility, protection of the global environment and a sustainable, reliable, social infrastructure.

•	Work within Fujitsu Research to contribute to the development of technologies to underpin and achieve Fujitsu's goal of becoming a leading digital transformation company delivering digital transformation solutions to customers operating in the digital society of today.

•	Identify new strategic partners, with specific technical innovation expertise capable of delivering advanced technologies and being strategic collaborative partners.

•	Engage in proof-of-concept and open innovation opportunities with business partners in order to understand business requirements and ensure that customer problems are fully understood and that research is aligned to reflect the needs of business and society.

•	Creation of new technologies, innovation and intellectual property;

•	Delivery of outstanding results which result in increase in in-year funding and/or securing funding for the next financial year;

•	New business opportunities gained by Fujitsu resulting from innovative technological contributions made by the Company acting as an integral part of the Fujitsu Research Global Laboratories;

•	Completion of contracted innovation and technological developments on time and within the agreed budget;

•	Contribution to Fujitsu's cutting-edge achievements as evidenced by press releases relating to or referencing Company achievements;

•	Enhancement of Fujitsu's reputation for achievement of state-of-the art research as demonstrated by conference papers, publications and participation at high-profile virtual events.

Seishi Okomoto	(Chairman)
Okai Jungo
Serban Georgescu

•	select suitable accounting policies and then apply them consistently;

•	make judgements and estimates that are reasonable, relevant and reliable;

•	state whether they have been prepared in accordance with IFRS;

•	assess the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and

•	use the going concern basis of accounting unless they either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

•	give a true and fair view of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

•	have been properly prepared in accordance with UK adopted international accounting standards; and

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

•	the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the strategic report and directors' report have been prepared in accordance with applicable legal requirements.

•	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

•	We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are the Companies Act 2006 and International Accounting Standards as well as the relevant direct and indirect tax compliance regulation and the General Data Protection Regulation (GDPR) related to the Company. In addition, the Company has to comply with laws and regulations relating to its domestic operations, including health and safety, employees, data protection and anti-bribery and corruption.
•	We understood how Fujitsu Research of Europe Limited is complying with those frameworks by holding enquiries with those charged with governance and management and reading of board minutes to identify any non-compliance with laws and regulations. We understood the potential incentive and ability to override the controls. We considered management's attitude and tone from the top to embed a culture of honesty and ethical behaviour whereby a strong emphasis is placed on fraud prevention which may reduce opportunities for fraud to take place. We further understood the adoption of accounting standards and considered the compliance with the above laws.
•	We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur through audit team considerations and inquiry of management and those charged with governance. Through these procedures we determined there to be a risk of management override of controls over overstatement of revenue by management not claiming revenue in line with contract. We performed a recalculation of the revenue for any sales invoice during the year which is above our testing threshold. Furthermore, as part of our journal entry testing, we searched for any top-side entries to revenue, and traced each entry identified to underlying supporting evidence.
•	Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions are recorded in compliance with International Accounting Standards and where appropriate Companies Act 2006. Compliance with other operational laws and regulations was covered through inquiry with management and the Directors, reading board minutes and correspondence with relevant authorities with no indication of non-compliance identified.

	Note	2026	2025
		£	£

Revenue	21	14,812,112	11,451,288
Other income	22	1,010,226	913,611
Research and development expenditure	7	(12,649,912)	(9,727,452)

Gross profit		3,172,426	2,637,447

Administrative expenses		(1,348,148)	(1,131,178)

Operating profit		1,824,278	1,506,269

Financial income	6	70,695	49,755
Financial expense and exchange loss	6	(127,219)	(139,455)

Net finance expense		(56,524)	(89,700)

Profit before tax		1,767,754	1,416,569
Taxation	8	(471,984)	(414,486)

Profit for the year		1,295,770	1,002,083

	Share capital	Retained earnings	Total Equity
	£	£	£

Balance at 1 April 2024	670,000	7,966,950	8,636,950

Total comprehensive income Profit for the period	-	1,002,083	1,002,083

Balance at 31 March 2025	670,000	8,969,033	9,639,033

Balance at 1 April 2025	670,000	8,969,033	9,639,033

Total comprehensive income Profit for the period	-	1,295,770	1,295,770

Balance at 31 March 2026	670,000	10,264,803	10,934,803

-	it is held within a business model whose objective is to hold assets to collect contractual cash flows; and

-	its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

(a)	they include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and

(b)	where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.

•	plant and equipment 3 years. Effective depreciation rate is at 33.33% per annum.

•	fixtures and fittings 3 years. Effective depreciation rate is at 33.33% per annum.

Company	Land and buildings
	£

Net position as at 1 April 2025	281,624
Additions	551,029
Disposals	_-
Impairment (charge) / reversal	_-
Depreciation charge for the year	(350,094)
Adjustment	(911)
Net position as at 31 March 2026	481,649

	Note	2026	2025
		£	£
Non-current assets
Property, plant and equipment	9	510,284	320,835
Intangible assets	10	-	-
Deferred tax asset	13	-	6,350

Total Non-current assets		510,284	327,185

Current assets
Other financial assets	12	-	683,766
Trade and other receivables	14	4,957,350	4,335,886
Cash and cash equivalents	15	9,240,050	7,285,212

Total Current assets		14,197,400	12,304,864

Total assets		14,707,684	12,632,049

Non Current liabilities
Lease Liability	11	308,434	84,298
Deferred Tax Liability	13	17,041

Current liabilities
Trade and other payable	16	3,286,765	2,718,778
Lease Liability	11	160,641	189,940

Total liabilities		3,772,881	2,993,016

Equity
Share capital	18	670,000	670,000
Retained earnings		10,264,803	8,969,033

Total equity		10,934,803	9,639,033

	Note	2026	2025
		£	£
Cash flows from operating activities
Profit for the year		1,295,770	1,002,083
Adjustments for:
Depreciation, amortisation and impairment		368,317	369,749
Financial income	6	(70,695)	(49,755)
Financial expense and exchange loss	6	127,219	139,455

Deferred Income		-	-
Deferred tax charge	13	23,391	28,211
Current Tax	8	469,807	407,432

		2,213,809	1,897,175

Increase in trade and other receivables		(336,810)	(1,765,270)
Increase in Long Term Lease Liability		(469,075)	(274,238)
Increase in trade and other payables		1,683,285	1,349,833

		877,400	(689,676)

Net cash from operating activities		3,091,209	1,207,499

Cash flows from investing activities

Acquisition of property, plant and equipment		(557,766)	(347,034)

Net cash from investing activities		(557,766)	(347,034)

Cash flows from financing activities

Principal Portion of Lease Payment - Less than 1 year	11	(154,626)	(189,940)
Principal Portion of Lease Payment - More than 1 year	11	(296,760)	(84,298)

Net cash from financing activities		(451,386)	(274,238)

Net increase in cash and cash equivalents		2,082,057	586,227

Net cash on unrealised forex		(127,219)	(139,455)
Cash and cash equivalents at 1 April		7,285,212	6,838,440

	Number of
	employees

	2026	2025

Directors	1	1
Researcher	74	76
Administration	9	9

	84	86

	2026	2025
	£	£

Wages and salaries	7,655,987	6,448,348
Social security costs	1,516,301	761,653
Contributions to defined contribution plans	347,122	304,554

	9,519,410	7,514,555

The following adopted IFRSs are not yet effective for the year ended 31 March 2026 and have not been applied by the Company in these Financial Statements. Adoption of these new Standards in the Financial Statements of future periods is not expected to have any material impact on the Company:	Applicable for the year commencing on or after:
Amendments to the Classification and Measurement of Financial Instruments - Amendments to IFRS 9 and IFRS 7	1 January 2026
IFRS 18 Presentation and Disclosure in Financial Statements	1 January 2027
IFRS 19 Subsidiaries without Public Accountability: Disclosures	1 January 2027

	2026	2025
Finance income	£	£

Interest income on unimpaired financial assets	36,686	34,669

Exchange Rate Gains on Foreign Currency Transactions	34,009	15,086

Total Finance Income	70,695	49,755

Interest paid	(20,399)	(30,968)

Exchange Rate Losses on Foreign Currency Transactions	(106,820)	(108,487)

Total Finance Losses	(127,219)	(139,455)

	2026	2025
	£	£

Research and development expensed as incurred	12,649,912	9,727,452

Depreciation and amortisation	368,317	369,749

Auditor's remuneration:
	2026	2025
	£	£

Audit of these financial statements	64,076	60,124

Non-Audit Service Fee	0	23,640

	2026	2025
	£	£

Current year UK Tax expenses	(379,000)	(315,611)
Overseas tax	(77,588)	(39,984)
Adjustments for prior years	(13,219)	(51,837)

Current tax expense	(469,807)	(407,432)

Deferred Tax Expense
Origination and reversal of temporary differences	(2,177)	(7,054)
Adjustment for prior years	-	-
Change in tax rates	-	-

	(2,177)	(7,054)

Total tax expense	(471,984)	(414,486)

	Buildings ROU Assets	Plant and equipment	Fixtures &fittings	R&D equipment	Total
	£	£	£	£	£

Balance at 1 April 2024	879,171	204,792	28,411	_-	1,112,374
Addition	317,225	29,809	-	-	347,034
IFRS16 Adjustment	-	-	-	-	-
Disposal	-	-	-	-	-

Balance at 31 March 2025	1,196,396	234,601	28,411	-	1,459,408

Balance at 1 April 2024	555,681	184,732	28,411	-	768,824
Disposal	-	-	-	-	-
Depreciation IFRS16 Assets	360,001	-	-	-	360,001
Depreciation charge for the year	-	9,748	-	-	9,748

Balance at 31 March 2025	915,682	194,480	28,411	_-	1,138,573

Balance at 1 April 2025	1,196,396	234,601	28,411	-	1,459,408
Addition	551,029	6,737	-	-	557,766
Disposal	(369,378)	-	(28,411)	-	(397,789)

Balance at 31 March 2026	1,378,047	241,338	-	-	1,619,385

Balance at 1 April 2025	915,682	194,480	28,411	-	1,138,573
Disposal	(369,378)	_-	(28,411)	_-	(397,789)
Depreciation charge for the year	350,094	18,223	-	-	368,317

Balance at 31 March 2026	896,398	212,703	-	-	1,109,101

Net Book Value
At 31 March 2025	280,713	40,121	-	-	320,835

Net Book Value
At 31 March 2026	481,649	28,635	-	-	510,284

	Computer software	Total
	£	£

Cost
Balance at 1 April 2025	22,775	22,775

Balance at 31 March 2026	22,775	22,775

Amortisation and impairment
	22,775	22,775
Balance at 1 April 2025

Amortisation for the year	-	-

Balance at 31 March 2026	22,775	22,775

Net book value
At 1 April 2025	-	-

At 31 March 2026	-	-

	Minimum lease payments	Interest	Principal	Minimum lease payments	Interest	Principal
	2026	2026	2026	2025	2025	2025
	£	£	£	£	£	£
Company
Less than one year	160,641	6,015	154,626	189,940	11,099	178,841
More than one year	308,434	11,674	296,760	84,298	1,860	84,298

	2026	2025
	£	£
Current
Cash on short term loan to Fujitsu EMEA plc.	-	683,766

	_-	683,766

	2026	2025
	£	£

Property, plant and equipment - asset	-	6,350
Property, plant and equipment - liability	(17,041)	-

Net tax assets / liabilities	(17,041)	6,350

	1 April 2025	Recognised in income	31 March 2026
	£	£	£

Property, plant and equipment	6,350	(23,391)	(17,041)

	6,350	(23,391)	(17,041)

	2026	2025
	£	£

Trade receivables due from related parties	2,717,388	2,160,881
Tax receivables	2,111,582	2,039,934
Other debtors	31,672	34,920
Prepayments	96,708	100,151

	4,957,350	4,335,886

	2026	2025
	£	£

Trade payables	132,354	41,266
Other payables	1,265,199	1,457,156

Accrued expenses	1,889,212	1,220,356

	3,286,765	2,718,778

	2026	2025
	£	£

Japan	2,717,388	2,151,347
U.K.	2,004,162	1,948,355
Europe	107,420	91,579

	4,828,970	4,191,281

	2026	2025
	£	£

Related party	2,717,388	2,151,347
Government bodies	2,111,582	2,039,934

	4,828,970	4,191,281

	Gross	Impairment	Gross	Impairment
	2026	2026	2025	2025
	£			£
		£	£

Not past due	4,828,970	-	4,191,281	-

	4,828,970	-	4,191,281	-

	2026 Carrying amount	1 year or less	2025 Carrying amount	1 year or less
	£	£	£	£

Trade and other payables	3,755,840	3,447,406	2,999,246	2,914,948

	3,755,840	3,447,406	2,999,246	2,914,948

•	Its parent Fujitsu Limited;

•	Its directors; and

•	Other Fujitsu Limited Group companies. Related party transactions are made on terms equivalent to those that prevail in arm's length transactions.

	2026	2025
	£	£

Key management emoluments including wages & salaries, social security costs, pension contributions and post-employment benefits.	212,226	167,794

Related party transactions
	Sales to		Purchase from

	2026	2025	2026	2025
	£	£	£	£

Japan
Parent (Fujitsu Limited, Japan)	14,812,112	11,451,288	252,817	203,809

	14,812,112	11,451,288	252,817	203,809
UK
Fujitsu Services Limited	-	-	941,902	501,858

	-	-	941,902	501,858
Europe & Asia
Fujitsu Technology Solutions SP	-	-	978,184	524,294
Fujitsu Technology Solutions Lda	-	-	5,682	-
Fujitsu Technology Solutions NV/SA	-	-	67,419	-
Fujitsu Technology Solutions S.A.	-	-	210,758	-
Fujitsu Consulting India PVT Ltd			2,210	16,572
Fujitsu Systems Europe Ltd	-	-	21,522	42,365

	-	-	1,285,775	583,231

Grand Total	14,812,112	11,451,288	2,480,494	1,288,898