Company registration number 05561204 (England and Wales)
COMBINED KNOWLEDGE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
COMBINED KNOWLEDGE LIMITED
COMPANY INFORMATION
Director
Brian M Brown
Company number
05561204
Registered office
Watchmaker Court
33 St. John's Lane
London
EC1M 4BJ
Auditor
UHY Hacker Young
14 Park Row
Nottingham
NG1 6GR
Business address
2 The Terrace
Rugby Road
Lutterworth
Leicestershire
LE17 4BW
COMBINED KNOWLEDGE LIMITED
CONTENTS
Page
Director's report
1 - 2
Independent auditor's report
3 - 6
Statement of income and retained earnings
7
Balance sheet
8
Notes to the financial statements
9 - 19
COMBINED KNOWLEDGE LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The director presents his report and the audited financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of Combined Knowledge Limited (the “Company" or "we") continued to be that of software consultancy and supply.

Results and dividends

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Brian M Brown
Auditor

UHY Hacker Young were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the Company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the Company’s auditor is aware of that information.

COMBINED KNOWLEDGE LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Brian M Brown
Director
15 August 2024
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF COMBINED KNOWLEDGE LIMITED
- 3 -
Opinion

We have audited the financial statements of Combined Knowledge Limited (the 'Company') for the year ended 31 December 2023 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF COMBINED KNOWLEDGE LIMITED (CONTINUED)
- 4 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF COMBINED KNOWLEDGE LIMITED (CONTINUED)
- 5 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the Company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation, anti-bribery, corruption and fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and profit. Audit procedures performed included:

 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the Company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's member, for our audit work, for this report, or for the opinions we have formed.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF COMBINED KNOWLEDGE LIMITED (CONTINUED)
- 6 -
James Simmonds
Senior Statutory Auditor
For and on behalf of UHY Hacker Young
16 August 2024
COMBINED KNOWLEDGE LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
Year
Nine months
ended
ended
31 December
31 December
2023
2022
Notes
£
£
Turnover
4
691,625
412,125
Cost of sales
(366,921)
(279,907)
Gross profit
324,704
132,218
Administrative expenses
(389,095)
(420,952)
Operating loss
5
(64,391)
(288,734)
Interest receivable and similar income
9
663
1,084
Interest payable and similar expenses
10
(1,402)
(2,054)
Loss before taxation
(65,130)
(289,704)
Tax on loss
11
15,765
160,890
Loss for the financial year
(49,365)
(128,814)
Retained earnings brought forward
291,743
431,057
Dividends
12
-
0
(10,500)
Retained earnings carried forward
242,378
291,743

The profit and loss account has been prepared on the basis that all operations are continuing operations.

COMBINED KNOWLEDGE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
14
16,703
72,740
Current assets
Debtors
15
711,641
340,638
Cash at bank and in hand
171,313
227,079
882,954
567,717
Creditors: amounts falling due within one year
16
(656,280)
(330,987)
Net current assets
226,674
236,730
Total assets less current liabilities
243,377
309,470
Creditors: amounts falling due after more than one year
17
-
0
(16,728)
Net assets
243,377
292,742
Capital and reserves
Called up share capital
20
999
999
Profit and loss reserves
242,378
291,743
Total equity
243,377
292,742

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 August 2024
Brian M Brown
Director
Company registration number 05561204 (England and Wales)
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
1
Company information

Combined Knowledge Limited is a private Company limited by shares incorporated in England and Wales. The registered office is Watchmaker Court, 33 St. John's Lane, London, EC1M 4BJ. The principal place of business is 2 The Terrace, Rugby Road, Lutterworth, Leicestershire, LE17 4BW.

2
Accounting policies
2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This Company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this Company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The Company has therefore taken advantage of exemptions from the following disclosure requirements:

 

2.2
Reporting period

The prior period represented a 9-month accounting period from 31 March 2022 to 31 December 2022. The reporting period was changed to 31 December to conform with the controlling party's financial period end. Consequently, the current period presented a 12-month accounting period from 31 December 2022 to 31 December 2023

2.3
Turnover

Turnover represents amounts receivable for software consultancy services net of VAT and trade discounts.

Revenue from contracts for the provision of software support and supply services is recognised by reference to the stage of completion.

COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 10 -
2.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 8 years.

2.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
3-7 years straight line
Motor vehicles
5 years straight line
2.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash and deposits held at call with banks.

2.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors and hire purchase agreement that are classified as debt, are initially recognised at transaction price including transaction cost.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price including transaction cost.

2.8
Equity instruments

Share capital issued by the Company is recorded at the proceeds received, net of transaction costs. Dividends payable on share capital are recognised as liabilities once they are no longer at the discretion of the Company.

2.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 11 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2.10
Employee benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.12
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
3
Judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4
Turnover

An analysis of the Company's turnover is as follows:

2023
2022
£
£
Turnover analysed by class of business
Software sales, support and training
691,625
412,125
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Turnover
(Continued)
- 12 -
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
275,719
401,143
Rest of Europe
173,291
-
Rest of the World
242,615
10,982
691,625
412,125
5
Operating loss
2023
2022
Operating loss for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
13,539
(55)
Depreciation of owned tangible fixed assets
10,733
23,810
Depreciation of tangible fixed assets held under finance leases
11,567
8,916
Loss/(profit) on disposal of tangible fixed assets
23,737
(16,539)
6
Auditor's remuneration
2023
2022
Fees payable to the Company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the Company
13,425
12,500
7
Employees

The average monthly number of persons (including directors) employed by the Company during the year was:

2023
2022
Number
Number
8
11
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
Employees
(Continued)
- 13 -

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
568,755
560,268
8
Director's remuneration
2023
2022
£
£
Remuneration for qualifying services
-
0
76,710
The number of directors for whom retirement benefits accruing under defined contribution schemes amounted to 0 (2022 - 1).
9
Interest receivable and similar income
2023
2022
£
£
Interest income
Interest on bank deposits
663
1,084
10
Interest payable and similar expenses
2023
2022
£
£
Interest on bank overdrafts and loans
-
663
Interest on finance leases and hire purchase contracts
1,402
1,391
1,402
2,054
11
Taxation
2023
2022
£
£
Deferred tax
Origination and reversal of timing differences
(15,765)
(71,574)
Adjustment in respect of prior years
-
0
(89,316)
Total deferred tax
(15,765)
(160,890)
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Taxation
(Continued)
- 14 -

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Loss before taxation
(65,130)
(289,704)
Expected tax credit based on the standard rate of corporation tax in the UK of 23.52% (2022: 19.00%)
(15,319)
(55,044)
Tax effect of expenses that are not deductible in determining taxable profit
249
731
Effect of change in corporation tax rate
(1,337)
-
0
Permanent capital allowances in excess of depreciation
-
0
(1,034)
Other permanent differences
235
950
Remeasurement of deferred tax for changes in tax rates
407
(17,177)
Movement in deferred tax not recognised
-
0
(89,316)
Taxation credit for the year
(15,765)
(160,890)
12
Dividends
2023
2022
£
£
Interim paid
-
0
10,500
13
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
300,000
Amortisation and impairment
At 1 January 2023 and 31 December 2023
300,000
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
14
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
124,044
57,835
181,879
Disposals
-
0
(57,835)
(57,835)
At 31 December 2023
124,044
-
0
124,044
Depreciation and impairment
At 1 January 2023
96,608
12,531
109,139
Depreciation charged in the year
10,733
11,567
22,300
Eliminated in respect of disposals
-
0
(24,098)
(24,098)
At 31 December 2023
107,341
-
0
107,341
Carrying amount
At 31 December 2023
16,703
-
0
16,703
At 31 December 2022
27,436
45,304
72,740

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2022
£
£
Motor vehicles
-
0
45,304
15
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,344
54,725
Amounts owed by group undertakings
398,538
63,068
Other debtors
2,375
2,375
Prepayments and accrued income
145,759
84,610
560,016
204,778
Deferred tax asset (note 19)
151,625
135,860
711,641
340,638
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
16
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Obligations under finance leases
18
-
0
17,089
Trade creditors
264
592
Amounts owed to group undertakings
177,845
69,120
Taxation and social security
20,980
46,163
Other creditors
2,619
2,585
Accruals and deferred income
454,572
195,438
656,280
330,987
17
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Obligations under finance leases
18
-
0
16,728
18
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
17,089
In two to five years
-
0
16,728
-
0
33,817

Finance lease obligations are secured upon the assets to which they relate.

COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the Company and movements thereon:

Assets
Assets
2023
2022
Balances:
£
£
Accelerated capital allowances
(3,929)
(17,923)
Tax losses
154,428
153,170
Other short term timing differences
1,126
613
151,625
135,860
2023
Movements in the year:
£
Asset at 1 January 2023
(135,860)
Credit to profit or loss
(15,765)
Asset at 31 December 2023
(151,625)
20
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
999
999
999
999
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 18 -
21
Related party transactions

During the year, the Company entered into transactions with other members of the AvePoint Inc. group. AvePoint, Inc. is the controlling party of MaivenPoint Pte. Ltd, who in turn owns 100% of Combined Knowledge Limited. As AvePoint, Inc. owns less than 100% of MaivenPoint Pte. Ltd, the transactions made between Combined Knowledge Limited and other AvePoint, Inc. group companies are disclosed as follows:

Sales
2023
2022
£
£
AvePoint, Inc
40,756
49,162
AvePoint UK, Ltd
220,774
66,693
AvePoint Deutschland GmbH
21,948
2,214
AvePoint AU Pty Ltd
34,638
-
AvePoint Public Sector, Inc.
235,141
-
An element of the sales noted above have been deferred at the year end which is recognised in accruals and deferred income at 31 December 2023.
Comissions paid
2023
2022
£
£
AvePoint, Inc
6,113
7,374
AvePoint UK, Ltd
33,126
1,754
AvePoint Deutschland GmbH
3,292
332
AvePoint AU Pty Ltd
5,196
-
AvePoint Public Sector, Inc.
35,271
-
The commissions noted above are in relation to the group sales, and an element have been prepaid on the same basis as the sales above. These are held within prepayments at 31 December 2023.
Management charges paid
2023
2022
£
£
AvePoint UK, Ltd
-
50,687
The above management charged represent payroll costs recharged to the company.
Amounts owed by group
2023
2022
£
£
AvePoint, Inc
76,736
49,162
AvePoint UK, Ltd
107,967
11,693
AvePoint Deutschland GmbH
69,250
2,214
AvePoint AU Pty Ltd
15,285
-
AvePoint Public Sector, Inc.
48,524
-
COMBINED KNOWLEDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
21
Related party transactions
(Continued)
- 19 -
Amounts owed by group
2023
2022
£
£
AvePoint, Inc
31,770
7,374
AvePoint UK, Ltd
102,390
61,414
AvePoint Deutschland GmbH
4,365
332
AvePoint AU Pty Ltd
5,047
-
AvePoint Public Sector, Inc.
34,273
-
Also during the previous period, a vehicle was purchased from the Company by Stephen Smith, a director at the time of sale, for £32,000.
Key management personnel remuneration
During the year, the Company paid £240,000 to key management personnel as remuneration.
22
Ultimate controlling party

The immediate controlling party of the Company is MaivenPoint Pte. Ltd , a company incorporated in Singapore. A copy of their financial statements can be obtained from 10 Collyer Quay, 17-01/04 Ocean Finance Centre, Singapore, 049315.

 

The ultimate parent and controlling party is AvePoint Inc., a company incorporated in the United States.

 

The largest and smallest group of which consolidated financial statements are prepared and of which the Company is a member is AvePoint Inc. A copy of their consolidated financial statements can be obtained from 525 Washington Blvd, Suite 1400, Jersey City, New Jersey, United States of America, 07310

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