IRIS INFRA HOLDCO LIMITED

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  Material uncertainty over going concern

  The Directors' assumptions and outlook assume continued shareholder support to finance business operations. The financial statements do not reflect the adjustments that would be necessary should the ability of the Company to trade be compromised due to the loss of such support. As such there is a material uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. Consequently, the Directors conclude that, whilst there remains a reliance on continued shareholder support to finance business operations in the medium term, it is appropriate to adopt the going concern basis in preparing the financial statements for the year ending 31 December 2024.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. IRIS INFRA HOLDCO LIMITED 2023-08-18 → present
2. FULL FIBRE HOLDCO LIMITED 2020-12-01 → 2023-08-18

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Auditor

Bishop Fleming LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors' assumptions and outlook assume continued shareholder support to finance business operations. The financial statements do not reflect the adjustments that would be necessary should the ability of the Company to trade be compromised due to the loss of such support. As such there is a material uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. Consequently, the Directors conclude that, whilst there remains a reliance on continued shareholder support to finance business operations in the medium term, it is appropriate to adopt the going concern basis in preparing the financial statements for the year ending 31 December 2024.”

Group structure

1. IRIS INFRA HOLDCO LIMITED · parent
   1. Full Fibre Limited 100%
   2. Iris Infra Limited 100%
   3. Digital Master Holdco Limited 100%
   4. Digital Holdings Ltd 100%
   5. Digital Infrastructure Services Limited 100%
   6. Digital Infrastructure Limited 100%
   7. BeFibre Limited 100%

Significant events

• “The company received funding of £42.1m of intercompany loan notes during the year (2023: £40.3m) from Iris Holdco Ltd, whose ultimate parent is Basalt Infrastructure III LLP.”
• “During the year, the Company incorporated a 100% subsidiary, Altnet Partners Holdco Limited, for an investment of £0.01.”
• “In March 2025 the Group announced a merger with Zzoomm Group, the combined Group has over 600,000 properties ready for service as well as 70,000 customers. The newly created Group Holding company, Altnet Partners Holdco Limited, is owned by Iris Infra Holdco Limited & ZGL Investment Limited, and is backed by funds managed by Basalt Infrastructure Partners and Oaktree Capital Management.”
• “During 2025, Iris Infra Holdco Limited received and issued £13,458,869 of unsecured loan notes as part of this group wide financing.”

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

Filings

6

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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