SPECTRUM FIBRE MIDCO LIMITED

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After careful consideration of the above, the directors have a reasonable expectation that the company and the group have adequate resources to continue as a going concern and operate within the level of their available funding for at least the next 12 months from the date of signing these financial statements. The directors continue to adopt the going concern basis in preparing the Annual Report and financial statements.”

Group structure

1. SPECTRUM FIBRE MIDCO LIMITED · parent
   1. Spectrum Fibre Limited 100% · UK · building and operation of a fibre-to-the-premises network across south Wales, the provision of managed IT services to business customers, and the provision of broadband connectivity to residential and business customers
   2. Spectrum Internet Limited 100% · UK · building and operation of a fibre-to-the-premises network across south Wales, the provision of managed IT services to business customers, and the provision of broadband connectivity to residential and business customers
   3. Ogi Networks Limited 100% · UK · building and operation of a fibre-to-the-premises network across south Wales, the provision of managed IT services to business customers, and the provision of broadband connectivity to residential and business customers
   4. Real Fibre Limited 100% · UK · building and operation of a fibre-to-the-premises network across south Wales, the provision of managed IT services to business customers, and the provision of broadband connectivity to residential and business customers
   5. Ogi Fibre Limited 100% · UK · building and operation of a fibre-to-the-premises network across south Wales, the provision of managed IT services to business customers, and the provision of broadband connectivity to residential and business customers

Significant events

• “After the balance sheet date, the group received a further £5,000k in loan notes from its principal investor and drew down a further £5,000k of the £45,000k facility with the Cardiff Capital Region. As at the balance sheet date, the group had short term loans with a balance of £10,000k that were due for repayment in 2025. In April 2025, these short-term loans were refinanced into 13.5% unsecured loan notes with a maturity date of 31 August 2037.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.