Verimatrix UK Ltd

During the year the principal activity of the company was the development of security software and services which are used by our customers to protect their applications. We aim to present a balanced and comprehensive review of the development and performance of the year and its position at year end. Our review is consistent with the size and non complex nature of our business and is written in the context of the risks and uncertainties we face. The majority of our revenue is generated through inter-company billing of site overhead costs to Verimatrix S.A. (formerly Inside Secure S.A.) in France, subject to an inter-company transfer pricing agreement. Turnover in the year under review has decreased by £ 405,688 ( 17.2 %) compared to 20 24 . The financial position of the company is in line with expectations and consistent with the size and complexity of the business. As for many businesses of our size, the business environment in which we operate continues to be challenging. The global market for our products is highly competitive and margins are tight. We are aware that any future developments of our business may be subject to unforeseen future events outside our control.