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REGISTERED NUMBER: SC176133 (Scotland)















Financial Statements

For The Period 1 November 2023 to 30 September 2024

for

C2 Software Limited

C2 Software Limited (Registered number: SC176133)






Contents of the Financial Statements
For The Period 1 November 2023 to 30 September 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


C2 Software Limited

Company Information
For The Period 1 November 2023 to 30 September 2024







DIRECTORS: A McDonald
T O'Hara C.A





REGISTERED OFFICE: Solais House, 19 Phoenix Crescent
Strathclyde Business Park
Bellshill
ML4 3NJ





REGISTERED NUMBER: SC176133 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

C2 Software Limited (Registered number: SC176133)

Abridged Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 228,273 135,620
Tangible assets 5 - 75
Investments 6 91,193 79,375
319,466 215,070

CURRENT ASSETS
Debtors 781,008 293,031
Cash at bank 107,558 794,174
888,566 1,087,205
CREDITORS
Amounts falling due within one year 201,361 372,954
NET CURRENT ASSETS 687,205 714,251
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,006,671

929,321

PROVISIONS FOR LIABILITIES 3,765 -
NET ASSETS 1,002,906 929,321

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 50 50
Retained earnings 1,002,756 929,171
1,002,906 929,321

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the period ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 March 2025 and were signed on its behalf by:





T O'Hara C.A - Director


C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements
For The Period 1 November 2023 to 30 September 2024

1. STATUTORY INFORMATION

C2 Software Limited is a private company, limited by shares , registered in Scotland. 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently
measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the
acquisition date where it is probable that the expected future economic benefits that are attributable to
the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible
asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:

Development Costs 10 years straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% - 50% per annum straight line
Fixtures and fittings - 25% on reducing balance and 10% and 25% straight line

C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section
12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party
to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as
payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. 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.

Taxation
Taxation for the period 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 statement of financial position date.


C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

Research and development expenditure
Development expenditure is capitalised in accordance with the accounting policy given below. Initial
capitalisation of costs is based on management's judgement that technical and economic feasibility is
confirmed, usually when a product development project has reached a defined milestone according to
an established project management model. In determining the amounts to be capitalised, management
makes assumptions regarding the expected future cash generation of the assets, discount rates to be
applied and the expected period of benefits.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and
intangible assets to determine whether there is any indication that those assets have suffered an
impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order
to determine the extent of the impairment loss (if any). Where it is not possible to estimate the
recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset
for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.
An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a
revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or
cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the
increased carrying amount does not exceed the carrying amount that would have been determined had
no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of
an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a
revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction
costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at
the discretion of the company.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and
subsequently measured at cost less any accumulated impairment losses. The investments are assessed
for impairment at each reporting date and any impairment losses or reversals of impairment losses are
recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and
operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a
long-term interest and where the company has significant influence. The company considers that it has
significant influence where it has the power to participate in the financial and operating decisions of the
associate.

Entities in which the company has a long term interest and shares control under a contractual
arrangement are classified as jointly controlled entities.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those
costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services
are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 15 ) .

C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 189,238
Additions 110,000
At 30 September 2024 299,238
AMORTISATION
At 1 November 2023 53,618
Amortisation for period 17,347
At 30 September 2024 70,965
NET BOOK VALUE

At 30 September 2024 228,273
At 31 October 2023 135,620

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 135,707
Disposals (135,707 )
At 30 September 2024 -
DEPRECIATION
At 1 November 2023 135,632
Charge for period 75
Eliminated on disposal (135,707 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 October 2023 75

C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 November 2023 79,375
Revaluations 11,818
At 30 September 2024 91,193
NET BOOK VALUE
At 30 September 2024 91,193
At 31 October 2023 79,375

Cost or valuation at 30 September 2024 is represented by:
Totals
£   
Valuation in 2024 91,193

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,167 7,000

8. SECURED DEBTS

The floating and fixed charge held by HSBC Bank PLC was satisfied during the year. At year end, there are no charges held against the company which relate to debts on the companies balance sheet.

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

The Report of the Auditors was unqualified.

Graham Cantlay (Senior Statutory Auditor)
for and on behalf of Robb Ferguson

10. CONTINGENT LIABILITIES

At September 2024, a cross guarantee exists between the company, C2 Software Limited, and GLAS Trust Corporation Limited. The contingent liability at 30 September 2024 is £15,750,000.

At September 2024, a cross guarantee exists between the company, C2 Software Limited, and LDC (Managers) Limited. The contingent liability at 30 September 2024 is £26,924,217.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

C2 Software Limited (Registered number: SC176133)

Notes to the Financial Statements - continued
For The Period 1 November 2023 to 30 September 2024

12. POST BALANCE SHEET EVENTS

At close of business on 30 September 2024 the company transferred the majority of the trade of the business to Kick ICT Group Limited, the parent company. On 1 October 2024 the employees of C2 Software Limited also transferred to the payroll of Kick ICT Group Limited.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of T O'Hara C.A, D M Chazan, A Turnbull and LDC (Nominees) Limited by
virtue of their shareholdings in Solais Topco Limited which in turn controls Kick ICT Group Limited which is
the company's immediate parent company.