REGISTERED NUMBER: 11985928 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

VERKADA LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

K M Rezai

T J Wilcox

J Li

REGISTERED OFFICE:

6th Floor One London Wall

London

United Kingdom

EC2Y 5EB

REGISTERED NUMBER:

11985928 (England and Wales)

AUDITORS:

ML Audit LLP

Statutory Auditor

Freshford House

Redcliffe Way

Bristol

BS1 6NL

The directors present their strategic report for the year ended 31 January 2026.

Principal activities

Verkada Limited presents its financial statements for the year ending 31st January 2026. It is to be noted that the financial statements are inclusive of its overseas branch in Taiwan. The principal activity of the company is to provide sales services to the parent company, Verkada Inc. Verkada Limited employees are primarily engaged in sales, marketing and other administrative functions.

The parent company, Verkada Inc, is a United States based modern enterprise security solutions company which runs on a software-as-service platform. The parent company's mission statement is "to protect people and places in a privacy-sensitive way". Its primary revenue drivers are sales of security devices and associated software to businesses.

Business review

Verkada Limited grew significantly during the fiscal year. As it operates as a cost-plus entity providing sales services to the parent company, revenues and expenses grew proportionally with an approximate 44% increase to both in FY2026 compared to in FY2025. Revenues were £42M in FY2026 compared to £29.0M in FY2025. Operating Expenses were £39.5M in 2026 compared to £27.2M in 2025.

Verkada Limited anticipates further growth in the next fiscal year as the parent company focuses on sales outside of the United States. Verkada Limited is expected to provide sales services for the parent company in new European countries, driving increases in headcount and revenue. The Company foresees no operating risk in the next fiscal year as the parent company is predicted to have sufficient cash to fund operations for Verkada Limited.

Principal risks/uncertainties

Liquidity risk for Verkada Limited is almost entirely dependent on that of its parent company. Based on the parent company's cash flow projections for FY27, Verkada Limited should have sufficient funding to meet its financial obligations for the next fiscal year. Additionally, cash is monitored daily to ensure that upcoming payments can be made.

For Verkada Limited, general risk and uncertainties exist in economic conditions, market competition, as well as employee management. The Company has strategies in place to mitigate risks wherever possible.

Subsequent events

As of the reporting date, Verkada Limited is not aware of any events or likely developments subsequent to the financial statement date of January 31, 2026, which would cause material impact to the financial statements.

Key Performance Indicators

The below metrics are for Verkada Limited and come from our issued report:

Year ended Jan 31 2026

Year Ended Jan 31 2025

Revenue

£41,823,020

£28,965,702

Gross Profit

£41,383,367

£28,385,622

Expense

£39,468,280

£27,165,931

Commissions Paid

£6,247,100

£3,490,071

Headcount (Average)

183 employees

141 employees

FUTURE DEVELOPMENTS

The company will continue to operate as a cost-plus service entity supporting group operations. No significant changes in the nature of the business or its principal activities are anticipated in the forthcoming financial year.

BRANCHES OUTSIDE THE UK

The company has one branch operating outside the United Kingdom, located in Taiwan. The results of which are included within the financial statements for Verkada Limited.

ON BEHALF OF THE BOARD:

T J Wilcox - Director

28 October 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

K M Rezai

T J Wilcox

J Li

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 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 and then apply them consistently;

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

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

The 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

In accordance with section 487 of the Companies Act 2006, ML Audit LLP will be deemed to be reappointed as auditor of the company.

ON BEHALF OF THE BOARD:

T J Wilcox - Director

28 October 2026

Opinion

We have audited the financial statements of Verkada Limited (the 'company') for the year ended 31 January 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks or irregularities, including known and actual, suspected or alleged instances of fraud;

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud;

- undertook a review of a sample of journal entries to ensure that they are being used for bona fide business purposes.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities is available on the Financial Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

James Barrell (Senior Statutory Auditor)

for and on behalf of ML Audit LLP

Statutory Auditor

Freshford House

Redcliffe Way

Bristol

BS1 6NL

29 October 2026

TURNOVER

3

41,823,020

28,965,702

Cost of sales

439,653

580,080

GROSS PROFIT

41,383,367

28,385,622

Administrative expenses

39,468,280

27,165,931

OPERATING PROFIT

5

1,915,087

1,219,691

Interest receivable and similar income

6,293

2,427

PROFIT BEFORE TAXATION

1,921,380

1,222,118

Tax on profit

6

598,367

400,616

PROFIT FOR THE FINANCIAL YEAR

1,323,013

821,502

PROFIT FOR THE YEAR

1,323,013

821,502

OTHER COMPREHENSIVE INCOME

Currency translation

7,589

(2,117

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

7,589

(2,117

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,330,602

819,385

FIXED ASSETS

Tangible assets

7

2,277,564

2,596,722

Investments

8

15

15

2,277,579

2,596,737

CURRENT ASSETS

Debtors: amounts falling due within one year

9

3,569,424

2,414,961

Cash at bank

900,970

1,419,662

4,470,394

3,834,623

CREDITORS

Amounts falling due within one year

10

2,767,640

3,797,719

NET CURRENT ASSETS

1,702,754

36,904

TOTAL ASSETS LESS CURRENT LIABILITIES

3,980,333

2,633,641

PROVISIONS FOR LIABILITIES

13

53,554

47,624

NET ASSETS

3,926,779

2,586,017

CAPITAL AND RESERVES

Called up share capital

14

1

1

Equity settled share based

payments

342,781

332,621

Foreign exchange reserve

18,385

10,796

Retained earnings

3,565,612

2,242,599

SHAREHOLDERS' FUNDS

3,926,779

2,586,017

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

T J Wilcox - Director

Equity

settled

Called up

share

Foreign

share

Retained

based

exchange

Total

capital

earnings

payments

reserve

equity

£

£

£

£

£

Balance at 1 February 2024

1

1,421,097

294,541

12,913

1,728,552

Changes in equity

Share-based compensation

-

-

38,080

-

38,080

Total comprehensive income

-

821,502

-

(2,117

)

819,385

Balance at 31 January 2025

1

2,242,599

332,621

10,796

2,586,017

Changes in equity

Share-based compensation

-

-

10,160

-

10,160

Total comprehensive income

-

1,323,013

-

7,589

1,330,602

Balance at 31 January 2026

1

3,565,612

342,781

18,385

3,926,779

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

The financial statements for Verkada Ltd for the year ended 31st January 2026 are inclusive of the results of the Taiwan branch which was set up in July 2022. Intercompany transactions and balances between the UK and branch are eliminated in full.

All amounts hae been rounded to the nearest £1 pound sterling, unless otherwise indicated.

Going Concern

The directors have sought and received confirmation from the parent company that financial support will be forthcoming for the next 12 months. On the basis that the directors are satisfied that the parent company has the capacity to provide such support, the directors continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by 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 paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

These disclosures have been made in the accounts of its parent company, Verkada Inc., these consolidated financial statements can be obtained from 406 E 3rd Ave, San Mateo, California, 944401, United States of America.

Significant judgements and estimates

In the application of the company’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which are considered to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Turnover

Turnover 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. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company is contracted by its ultimate parent company Verkada Inc. to deliver sales and marketing services under an intercompany agreement. The company is remunerated by its ultimate parent for these services.

Tangible fixed assets

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

Short leasehold - over the lease term

Fitting and fixtures - 15%

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.

Investments

Investments in group companies are recognised at cost.

Financial instruments

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.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Taxation

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

The company's principal functional currency is GBP, but the Taiwanese branch uses Taiwanese dollars as its function currency. The presentational currency for the company is GBP.

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.

The results of overseas operations are translated into Sterling at rates approximating to those ruling when the transaction took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pension costs and other post-retirement benefits

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short terms creditors are measured at the transaction price.

Finance income and costs

Finance income and costs are recognised using the effective interest method.

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Where vesting is contingent on a liquidity event, the share based payment charge is only recognised when a liquidity event is deemed probable. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2026

2025

£

£

United Kingdom

37,310,003

25,875,376

Asia

4,513,017

3,090,326

41,823,020

28,965,702

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

14,675,013

10,912,670

Social security costs

3,629,791

2,056,477

Other pension costs

723,831

815,773

19,028,635

13,784,920

The average number of employees during the year was as follows:

2026

2025

Sales & marketing

112

100

Product development

23

20

Technical support

23

17

Administration

25

4

183

141

2026

2025

£

£

Directors' remuneration

-

-

In addition to the above, the following employment costs were incurred in the year:

2026

2025

£

£

Commission

6,247,100

3,490,071

Share-based compensation

1,064,283

38,080

5.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Other operating leases

2,144,047

2,157,095

Depreciation - owned assets

492,488

196,735

Auditors' remuneration

20,000

11,800

Foreign exchange differences

62,225

86,810

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2026

2025

£

£

Current tax:

UK corporation tax

713,107

384,762

Adjustments in respect of

prior periods

(120,670

)

(11,988

)

Total current tax

592,437

372,774

Deferred tax:

Deferred tax

(89,460

)

27,842

Adjustments in respect of prior periods

95,390

-

Total deferred tax

5,930

27,842

Tax on profit

598,367

400,616

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2026

2025

£

£

Profit before tax

1,921,380

1,222,118

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

480,345

305,530

Effects of:

Expenses not deductible for tax purposes

103,810

216,882

Capital allowances in excess of depreciation

-

(137,650

)

Adjustments to tax charge in respect of previous periods

(25,280

)

(11,988

)

Deferred tax

-

27,842

Foreign tax credits

37,905

-

Other tax differences

1,587

-

Total tax charge

598,367

400,616

Tax effects relating to effects of other comprehensive income

2026

Gross

Tax

Net

£

£

£

Currency translation

7,589

-

7,589

2025

Gross

Tax

Net

£

£

£

Currency translation

(2,117

)

-

(2,117

)

7.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Short

to

and

leasehold

property

fittings

Totals

£

£

£

£

Cost

At 1 February 2025

1,668,602

389,002

873,689

2,931,293

Additions

169,572

-

3,758

173,330

Reclassification/transfer

387,664

(389,002

)

1,338

-

At 31 January 2026

2,225,838

-

878,785

3,104,623

Depreciation

At 1 February 2025

83,158

-

251,413

334,571

Charge for year

310,056

-

182,432

492,488

At 31 January 2026

393,214

-

433,845

827,059

Net book value

At 31 January 2026

1,832,624

-

444,940

2,277,564

At 31 January 2025

1,585,444

389,002

622,276

2,596,722

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 February 2025

and 31 January 2026

15

Net book value

At 31 January 2026

15

At 31 January 2025

15

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Amounts owed by group undertakings

1,883,465

1,069,589

Other debtors

454,897

141,421

VAT

304,047

580,988

Prepayments

927,015

622,963

3,569,424

2,414,961

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

74,318

518,560

Corporation tax

230,800

234,627

Social security and other taxes

428,204

394,231

Other creditors

63,419

131,424

Accrued expenses

1,970,899

2,518,877

2,767,640

3,797,719