HERCULES BIDCO LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

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. HERCULES BIDCO LIMITED 2021-08-23 → present
2. HERCULES BIDCO 2 LIMITED 2021-08-20 → 2021-08-23

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared financial projections for the group headed by Hercules Topco Limited which indicate the group and company can continue to operate as a going concern. These forecasts reflect known and expected impacts on the business over this period, including consideration of the current macroeconomic environment and associated uncertainties. The Directors have received a Letter of Support from Logi Topco Limited confirming that support will be provided to Hercules Bidco Limited for the period ended 30 June 2027. As such, the Directors are satisfied that the company is in a position to meet its liabilities as they fall due over the next 12 months. Accordingly, the Directors continue to adopt the going concern basis in preparing these financial statements. The Directors have not identified any material uncertainties that would cast significant doubt on the Company's ability to continue as a going concern.”

Group structure

1. HERCULES BIDCO LIMITED · parent
   1. Wifinity Group Limited 100% · England · Holding company
   2. Wifinity Networks Limited 100% · England · Holding company
   3. Wifinity Limited 100% · England · Internet service provider and telecommunications services
   4. Vital Wifi Holdings Limited 100% · England · Holding company
   5. Vital Wifi Limited 100% · England · Internet service provider and telecommunications services
   6. Next Connex Limited 100% · England · Dormant

Significant events

• “On 2 January 2026, the shareholders of Hercules Topco Limited, the immediate and ultimate parent undertaking, entered into an agreement to sell 100% of the issued share capital of the Company to Logi Bidco Limited, subject to regulatory clearance under the National Security and Investment Act. The required clearance was obtained in March 2026, and the transaction completed on 8 April 2026, resulting in a change of ultimate control of the Group. As part of the transaction, certain financing arrangements in place at the balance sheet date were settled. Third-party borrowings (£53.5m), which were contractually repayable in September 2026, together with management loan notes (£82m) presented within borrowings in the Group balance sheet as at 31 December 2025, were fully repaid on completion. The repayment of these amounts was funded through bridge financing of £68m obtained in connection with the acquisition. This bridge facility was subsequently refinanced and syndicated to a group of UK domestic tier 1 banking institutions on 30 April 2026. The new senior debt facility has a five-year term, maturing in March 2031, and bears interest at a variable rate of SONIA plus a margin ranging from 2.85% to 4.0%. For further detail of the new senior debt, see the going concern disclosure. Management expects the new ownership structure to support continuation of the Group's existing strategy, with an increased focus on investment in customer capital projects and potential mergers and acquisitions to drive future growth. These events are considered non-adjusting post balance sheet events as they relate to conditions arising after 31 December 2025. Accordingly, no adjustments have been made to the amounts recognised in the financial statements.”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.