Silverfin false false 30/06/2024 01/07/2023 30/06/2024 J Baker 03/05/2022 M Harris 27/03/2024 22/07/2022 D Scullion 27/03/2024 28 January 2025 The principal activity of the company is the development, marketing and sales of legal matter management software. 14081690 2024-06-30 14081690 bus:Director1 2024-06-30 14081690 bus:Director2 2024-06-30 14081690 bus:Director3 2024-06-30 14081690 core:CurrentFinancialInstruments 2024-06-30 14081690 core:CurrentFinancialInstruments 2023-06-30 14081690 2023-06-30 14081690 core:ShareCapital 2024-06-30 14081690 core:ShareCapital 2023-06-30 14081690 core:RetainedEarningsAccumulatedLosses 2024-06-30 14081690 core:RetainedEarningsAccumulatedLosses 2023-06-30 14081690 core:ImmediateParent core:CurrentFinancialInstruments 2024-06-30 14081690 core:ImmediateParent core:CurrentFinancialInstruments 2023-06-30 14081690 bus:OrdinaryShareClass1 2024-06-30 14081690 2023-07-01 2024-06-30 14081690 bus:FilletedAccounts 2023-07-01 2024-06-30 14081690 bus:SmallEntities 2023-07-01 2024-06-30 14081690 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14081690 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14081690 bus:Director1 2023-07-01 2024-06-30 14081690 bus:Director2 2023-07-01 2024-06-30 14081690 bus:Director3 2023-07-01 2024-06-30 14081690 2022-07-01 2023-06-30 14081690 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 14081690 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14081690 (England and Wales)

XAKIA TECHNOLOGIES (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

XAKIA TECHNOLOGIES (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

XAKIA TECHNOLOGIES (UK) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
XAKIA TECHNOLOGIES (UK) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Current assets
Debtors 3 75,535 53,799
Cash at bank and in hand 45,419 18,936
120,954 72,735
Creditors: amounts falling due within one year 4 ( 107,895) ( 72,312)
Net current assets 13,059 423
Total assets less current liabilities 13,059 423
Net assets 13,059 423
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 12,959 323
Total shareholder's funds 13,059 423

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Xakia Technologies (UK) Limited (registered number: 14081690) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Baker
Director

28 January 2025

XAKIA TECHNOLOGIES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
XAKIA TECHNOLOGIES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Xakia Technologies (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 5

3. Debtors

2024 2023
£ £
Trade debtors 64,671 31,014
Amounts owed by parent undertakings 10,864 22,499
Other debtors 0 286
75,535 53,799

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,622 1,082
Accruals and deferred income 89,643 56,709
Taxation and social security 12,335 11,005
Other creditors 295 3,516
107,895 72,312

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 294 294

7. Related party transactions

The company has taken advantage of the exemption conferred by Section 33.1A of Financial Reporting Standard 102: Related Party Disclosures, from the requirement to disclose transactions with wholly - owned group undertakings.