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REGISTERED NUMBER: 04099969 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

nQ Zebraworks Limited

nQ Zebraworks Limited (Registered number: 04099969)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


nQ Zebraworks Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C H Hagglund
C A Rabie
S J Allert





REGISTERED OFFICE: 4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR





REGISTERED NUMBER: 04099969 (England and Wales)





AUDITORS: Gopsall Audit Services Limited
Chartered Accountants
Statutory Auditor
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

nQ Zebraworks Limited (Registered number: 04099969)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 3,809 3,758

CURRENT ASSETS
Debtors 7 197,347 200,775
Cash at bank 61,637 83,167
258,984 283,942
CREDITORS
Amounts falling due within one year 8 278,964 291,187
NET CURRENT LIABILITIES (19,980 ) (7,245 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,171

)

(3,487

)

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 11 (16,175 ) (3,491 )
SHAREHOLDERS' FUNDS (16,171 ) (3,487 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





S J Allert - Director


nQ Zebraworks Limited (Registered number: 04099969)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

nQ Zebraworks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going Concern
The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.

The company is reliant on the support of the ultimate parent company, who has indicated their willingness to continue to support the company for a minimum of 12 months from the date of signing these financial statements and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the amounts invoiced during the year, exclusive of value added tax, modified as follows:

Software licence
Licence fees for software sales are recognised as revenue at the point when the customer is in agreement for a 'live-operation' position (i.e. when all users can use the system on a fully functional basis).

Support and maintenance
Revenue from support and maintenance contracts is recognised on a straight line basis over the period of the contract.

Consulting services
Consulting and other service related revenues are recognised over the period in which the services are provided. This is determined on either a percentage of completion or time and material basis, depending on the particular type of contract.

Tangible fixed assets
Depreciation is provided to write off each asset over its useful life. The annual rates are applied on a straight line basis over 3 years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


nQ Zebraworks Limited (Registered number: 04099969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5. AUDITORS' REMUNERATION

The group accounts of the ultimate parent company Reckon Limited ('Reckon') discloses remuneration receivable by the auditors for non-audit services. Reckon is listed on the Australian stock exchange and prepares consolidated financial statements which are publicly available from Level 2, 100 Pacific Highway, North Sydney, NSW 2060, Australia.

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 33,507
Additions 2,494
Disposals (29,671 )
At 31 December 2023 6,330
DEPRECIATION
At 1 January 2023 29,749
Charge for year 2,443
Eliminated on disposal (29,671 )
At 31 December 2023 2,521
NET BOOK VALUE
At 31 December 2023 3,809
At 31 December 2022 3,758

nQ Zebraworks Limited (Registered number: 04099969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 65,278 81,012
Amounts owed by group undertakings 112,454 93,622
Other debtors 7,096 6,500
Prepayments 12,519 19,641
197,347 200,775

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 9 (2 )
Taxation and social security 41,400 41,436
Other creditors 237,555 249,753
278,964 291,187

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 45,876 21,150
Between one and five years 22,938 -
68,814 21,150

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4 Ordinary 1 4 4

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (3,491 )
Deficit for the year (12,684 )
At 31 December 2023 (16,175 )

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter White (Senior Statutory Auditor)
for and on behalf of Gopsall Audit Services Limited

13. PENSION COMMITMENTS

Pension commitments outstanding at the balance sheet date totalled £2,222 (2022 - £4,090).

nQ Zebraworks Limited (Registered number: 04099969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. PARENT COMPANIES

The directors consider the company's ultimate parent undertaking of the largest group to be Reckon Limited ('Reckon'), a company incorporated in Australia. Reckon is listed on the Australian stock exchange and prepares consolidated financial statements which are publicly available from Level 2, 100 Pacific Highway, North Sydney, NSW 2060, Australia.
The directors consider the company's immediate parent undertaking of the smallest group to be nQ Zebraworks Inc, a company incorporated in the USA, with the registered address of 7890 S. Hardy Dr. #105, Tempe, AZ 85284, USA.