Broadband for the Rural North Annual Management Accounts (260,064) (10,571) (446,297) (324,357) (147,837) ,160 (63,483) (24,257)

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1 REVENUE ACCOUNT ACTUALS TO DATE Connection Fees 1,750 18,850 33,750 78, , , ,517 Service Fees , , , , ,574 1,863,649 Other Income 2, ,000 2, ,315 INCOME FROM TRADING 4,871 39, , , ,087 1,051,449 2,245,481 Materials Purchased Network Running Costs GoCardless Fees (83,206) (77,034) (167,034) (6,103) (260,064) (10,571) (160,240) (427,098) (16,674) COST OF SALES (83,206) (77,034) (173,137) (270,635) (604,012) Overhead Depreciation Employment Costs - Staff Employment Costs - Directors Sub Contract Labour (20,338) (66,649) (113,062) (172,099) (459,819) (366,582) (255,205) (446,297) (324,357) (1,644,846) (579,562) PBIT Interest Receivable Interest (Chargeable) Loan Interest Shareholder Interest Loan Repayments Share Repayments (20,338) 63 (61,778) 77 (73,094) 19 (2,011) (110,907) 104 (11,283) (179,145) 236 (46,606) (147,837) 437 (63,483) (24,257) 10,160 (97,462) (35,004) (582,939) 936 (59,900) PBT Taxation Minority Interests Extraordinary Items Dividends (20,275) (61,701) (13) (75,086) (3) (122,086) (20) (225,515) (48) (235,140) (87) (122,306) (641,903) (171) RETAINED PROFIT (PBIT) (20,275) (61,714) (75,089) (122,106) (225,563) (235,227) (122,306) (862,280) % GROSS MARGIN % COST/NET SALES % PBIT/NET SALES o o o 100 1,368.3 (1,268.3) (182.9) (76.8) (50.1) (22.8) (26) 2016 Note: The accounts for 2015 were restated in the 2016 return, to remove the Income Breakdown amd Include COS Note: The Overhead for 2016 was restated at ( 451,115) in the 2017 Return, a reduction in costs of 8, Note: The Cost of Sales for 2016 was restated at ( 85,739) in the 2017 Return, an increase of ( 8,705) 2018 Note: Loss for the 2017 changed from (399,533) to (235,227) by reducing Overhead+Depreciation by 164,306.

2 BALANCE SHEET PERIOD A D O T SL A Debtors Prepayments Creditors - due within one year Creditors - due after one year Creditors - due in more than five years 25,141 (800) 6,988 (1,327) 24,688 (95,408) (133,092) 55,869 (24,108) (1,022,820) 340,368 (244,406) (1,361,058) 70,978 13,464 (1,964,372) 28,453 21,729 (373,871) (2,375,564) WORKING CAPITAL 24,341 5,661 (203,812) (991,059) (1,265,096) (1,879,930) (2,699,253) Fixed Assets NBV at Beginning of Year Capital Expenditure Depreciation - Tools & Equipment Depreciation - Computer Equipment Depreciation - Network Depreciation - Fixtures & Fittings Depreciation - Plant & Machinery Depreciation - Motor Vehicles Depreciation - Furniture Fittings & Equip Disposals Adjustment to NBV B/Fwd 124,832 (18,725) 106, ,764 (2,727) (34,807) 372, ,305 (2,366) (753) (81,732) 697, ,332 (4,888) (2,151) (56,463) (122) (10,316) 1,503,184 1,160,947 (4,830) (9,123) (109,176) (713) (13,973) 2,526,316 2,363,303 (6,426) (13,710) (206,167) (2,372) (26,531) 171,154 4,805,567 2,023,729 (286,138) (45,210) 7,813 NET FIXED ASSETS 106, , ,792 1,503,184 2,526,316 4,805,567 6,505,761 Investments Intangibles FUNDS EMPLOYED 130, , , ,125 1,261,220 2,925,637 3,806,508 Cash/(Overdraft) 156,326 17,988 18, , , ,555 72,591 External Loans Leasing Creditors Corporation Tax Defered Tax Shareholder refunds and Interest NET ASSETS 286, , , ,240 1,573,978 3,038,192 3,879,099 Share Capital 307, , ,815 1,049,688 2,138,989 3,359,893 4,801,642 Revaluation Reserve Other Reserve Profit & Loss - B/Fwd Current Year Profit/(Loss) (20,275) (20,275) (61,714) (81,989) (75,089) (60,249) (157,078) (122,106) (339,433) (225,563) (564,996) (235,227) (800,223) (122,306) NET ASSETS 286, , , ,240 1,573,978 2,559,655 3,879,099 Notes on Accounts: Starting NBV for 2013 was increased at Audit, compared to the end value for 2012 (by only 1) to balance the Net Assets Note: Loss carried F/wd from years prior to 2015 due to change in depreciation policy ( 60,249) The 2017 Net Fixed Assets were increased, in the 2018 A/C by 171,154 by moving this sum from past years Admin Costs

3 OVERHEADS PERIOD Wages & Salaries 25, , , ,464 Employers NIC (Staff) 9,697 21,587 14,476 Directors Remuneration 15,000 63,279 65,822 57,743 Employers NIC (Directors) 694 6,463 6,989 5,715 Staff Pensions 11,041 13,154 Subcontract Costs 10,000 9,216 7,260 Staff Training 884 2,496 5,741 Rent 3,083 3,499 3,500 20,500 30,500 30,500 Business Rates 4,941 5,328 6,650 Water Rates Light Heat & Power 605 1, ,436 6,617 10,864 Insurance 15,206 13,830 14,370 13,630 18,632 26,556 Repairs & Maintenance 5,000 1,351 2,636 10,572 23,948 10,137 Waste Disposal 2,601 Telephone & Internet ,209 2,382 3,879 Computer software & Maintenance 386 5,616 6,027 4,468 Printing, Postage & Stationery ,425 1,762 5,071 7,609 7,712 Trade Subscriptions 1,977 1,875 3, ,029 2,751 Sundry Expenses ,882 3,128 6,050 6,388 Cleaning 765 3,039 2,972 Motor Expenses 5,621 9,068 12,612 Travel & Subsistence 1,077 1,601 1,271 3,514 16,163 19,625 Accountancy Fees ,200 1,800 2,650 4,850 4,950 Auditors Remumeration 1,000 1,400 1,800 2,575 2,650 Payroll Fees 1, Legal & Professional Fees 3,592 4,360 6,455 Bad Debts Written off 25 Bank Charges , ,580 1,504 Depreciation Tools & Equipment 2,727 2,366 4,888 4,830 6,425 9,216 Computer Equipment (Owned) 753 2,151 9,123 13,073 Network 18,725 34,807 81,732 56, , , ,138 Fixtures & Fittings ,022 Motor Vehicles 10,316 13,973 26,531 19,899 Furniture Fittings & Equip 16,081 Profit/Loss on asset sale (6,991) TOTAL OVERHEADS 20,338 66, , , , , ,654 Adminstrative Expenses 1,613 29,115 28,211 91, , , ,297 Depreciation 18,725 37,534 84,851 73, , , ,357 Total 20,338 66, , , , , ,654 Profit/Loss on asset sale NOTE: 2017 Total Overhead reduced from 786,093 to 366,5852 in 2018 A/C includes changing 248,358 Depreciation to

4 CAPITAL EXPENDITURE PERIOD PLANT & MACHINERY Not detailed Tools & Equipment Computer Equipment Motor Vehicles Office Equipment Furniture Fittings & Equipment Plant & Machinery Disposals 18, ,013 19,161 5,582 41, ,521 27,900 24,945 4,065 15,457 64,204 30,077 43,669 (19,218) TOTAL PLANT AND MACHINERY 18,170 3,341 66,819 61, ,738 24,451 NETWORK Not detailed 124, , ,964 (reduced in 2016 report) 962,221 (149,708) 1,099,516 2,253,565 1,999,278 TOTAL NETWORK 124, , , ,513 1,099,516 2,253,565 1,999,278 TOTAL CAPEX FOR PERIOD 124, , , ,332 1,160,947 2,363,303 2,023,729

5 0,56, Additions Depr'c Bfwd Additions (Bfwd) Depr'c Bfwd Additions (Bfwd) Depr'c Bfwd Additions (Bfwd) Depr'c Bfwd Additions (Bfwd) Depr'c Bfwd Additions (Bfwd) Depr'c Bfwd Additions (Bfwd) Depr'c Plant & M achery 124,832 (18,725) Network Plant Machinery etc. Plant Machinery etc. Disposals) 124, ,593 (18,725) (34,807) 410, ,964 (53,532) (81,732) 817, ,221 (135,264) (71,1 84) 1,779,610 1,099,516 (206,448) (109,176) 2,879,126 2,253,565 (315,624) (199,321) 5,154, ,502 1,999,278 43,669 (19,218) (507,070) (101,001) (286,1 38) (45,210) 7,813 Equipment Fixtures & Fittngs Tools & Equipment Office Equipment Motor Vehicles Computer Equipment Furniture Fittings & Equipment 18,171 (2,727) 18, ,013 (2,727) (2,366) (753) 18,499 3,013 19, ,264 5,582 (5,093) (753) (4,888) (122) (10,316) (2,151) 37, ,264 8,595 4,521 4,065 24,945 27,900 (9,981) (122) (10,316) (2,904) (4,830) (713) (13,973) (9,123) 42,181 4,877 41,372 15,457 15,457 64,204 30,077 (14,811) (835) (12,862) (6,425) (26,531) (16,081) Total 124,832 (18,725) 124, ,764 (18,725) (37,534) 428, ,305 (56,259) (84,851) 838,901 1,029,040 (141,110) (88,661) 1,867,941 1,1 60,947 (229,771) (137,815) 2,967,556 2,378,760 (344,132) (248,358) 5,413,638 2,023,729 (608,071) (323,535) Net Book Value , ,791 1,63 3,1 70 6,62,302 4,75 3,826 NBV reported in cu rre n tye a r, for 106, , ,792 1,503,183 2,526,315 5,413,638 previous year Variance from previus year (134,987) (134,987) 659,812 Variance Note 1: Note 1: Note 2:,761 Note 1: Net Book Value reduced by 134,987 in order to rem ove items in co rre cty defined as assets in prior accounts Note 2:

6 SUBSCRIBERS Number of ,015 ACTUALS TO DATE 2,988 Number of 25 per month ,778 3,082 Profit per paying client (21,379) (1,093) (340) (245) (132) (40)

7 o v e r h e a d s 2017 Restated in 2018 Variance Adm instrative Expenses 537, ,582 (171,153) Depreciation 248, ,205 6,847 Total 786, ,787 (164,306) d e p r e c ia t io n a n a l y s is 2,017 Restated in 2018 Variance Newtowork 199, ,167 6,846 T ools & Equipm ent 6,425 6,426 1 Office Equipm ent 2,372 2,372 26,531 26,531 C om puter Equipm ent 13,709 13,709 Total 248, ,205 6,847 o v e r h e a d a n a l y s is 2,017 Restated in 2018 Variance W ages and salaries 265, ,546 (135,467) Staff NIC (Employers) 21,587 8,527 (13,060) Directors rem uneration 65,822 65,822 Directors NIC (Employers) 6,989 6,989 Staff pensions (Defined contribution) 11,041 1,027 (10,014) Subcontract cost 9,216 9,216 Staff training 2,496 2,495 Rent 30,500 30,500 Rates 5,328 5,329 W ater rates Light, heat and power 6,617 6,617 Insurance 18,632 18,632 Repairs and m aintenance 23,948 20,376 (3,572) Waste disposal 3,573 3,573 Telephon e and fax 2,382 2,382 C om puter software and m aintenance costs 6,027 6,027 Printing, postage and stationery 7,609 7,609 Trade subscriptions 2,029 2,029 Sundry expenses 6,050 6,048 C leaning 3,039 3,040 M otor expenses 12,612 (12,612) Travel and subsistence 16,163 16,163 Accountancy fees 4,850 4,850 Auditor's rem uneration 2,575 2,575 Payroll fees 1,060 1,060 Legal and professional fees 4,360 4,360 Bad debts written off Bank charges. 1,580 1,580 Total 537, ,582 (171,153)