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REGISTERED NUMBER: SC503166 (Scotland)
















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements For The Year Ended 30 September 2024

for


Kick ICT Group Limited



Kick ICT Group Limited (Registered number: SC503166)








Contents of the Consolidated Financial Statements

For The Year Ended 30 September 2024





Page




Company Information  

1




Group Strategic Report  

2




Report of the Directors  

7




Report of the Independent Auditors  

9




Consolidated Statement of Comprehensive Income

13




Consolidated Statement of Financial Position  

15




Company Statement of Financial Position  

17




Consolidated Statement of Changes in Equity  

18




Company Statement of Changes in Equity  

19




Consolidated Statement of Cash Flows  

20




Notes to the Consolidated Statement of Cash Flows

21




Notes to the Consolidated Financial Statements

22





Kick ICT Group Limited



Company Information

For The Year Ended 30 September 2024









DIRECTORS:

T O'Hara C.A


J Kenny


G L Neville


A McDonald







REGISTERED OFFICE:

Solais House


19 Phoenix Crescent


Strathclyde Business Park


Bellshill


ML4 3NJ







REGISTERED NUMBER:

SC503166 (Scotland)







INDEPENDENT AUDITORS:

Robb Ferguson


Chartered Accountants & Statutory Auditors


Regent Court


70 West Regent Street


Glasgow


G2 2QZ



Kick ICT Group Limited (Registered number: SC503166)



Group Strategic Report

For The Year Ended 30 September 2024


The directors present their strategic report of the company and the group for the year ended 30 September 2024.


INTRODUCTION

Kick ICT Group Ltd is a single source IT company headquartered in Scotland.  The Group has been innovating and providing IT solutions, network infrastructure and support to customers for over 40 years.  The Group are one of a few select companies of scale in the UK who can provide solutions and support for customers with their finance, ERP, technical support and communications requirements.


REVIEW OF BUSINESS

During the year, LDC replaced BGF as the Group's new investment partner, further strengthening the Group's ability to execute on our future growth plans.  As part of the new investment, TDC replaced HSBC as the Group's new funding partner, providing the Group with increased firepower to execute our M&A strategy.


Within the first year of LDC investment, the Group is delighted to report on another set of positive results for the year:

- Turnover  £28.7m

- EBITDA  £4.6m


Over the year, the Group delivered revenues of £28.7m, a £2.7m increase. The increase was a combination of continued strong organic growth within our underlying core business and execution in our disciplined M&A strategy, with C2 Software Ltd acquired in November 2023.


The year also saw the Group leverage cost investments made in previous years with EBITDA of £4.6m delivered, representing a strong £1.3m or 38% increase.


Finally, the Group continued its track record of strong cash generation, with a 97% operating cash conversion over the year.


Business Model

The Group continues to service over 1,000 customers across the UK, ranging from "small" to "large".  Within our customer base our long-term recurring revenues over the year continued to increase, being £20.4m annualised at year-end, an increase of £1.0m year on year.


The overall strength of our business model continues to be underpinned by, high levels of recurring revenue (72%) minimal customer churn, low customer concentration, a highly skilled workforce, a growing pipeline, a strong back-order book and a positive cash cycle.


Accreditations

The Group continues to pride itself on putting our customers first.  Over the last 12 months the Group has increased our number of accreditations so customers can be assured that they will receive the best possible services from our team.


Software Intellectual Property

The Group continues to build on the foundations laid in previous years, sustaining the momentum in enhancing our product suite offerings.  Notable updates in the last year have included, the introduction of our Subscribe 360 offering, the leading Membership Relations Management product, expanding functionality within our Business Central Housing application and further development of our comprehensive Not for Profit solution, designed to streamline financial management processes using Dynamics 365 Business Central to help organisations focus on their mission.


Our efforts in 2024 have once again solidified our market position and have set a precedent for continual growth and innovation in our proprietary offerings.


KickSecure

Over the last 12 months, the Group's Kick Secure division has become an increasing and pivotal part of the managed services offering.




Kick ICT Group Limited (Registered number: SC503166)



Group Strategic Report

For The Year Ended 30 September 2024


Over 200 customers now benefit from automated technologies to monitor multiple aspects of their environment, from on-premise to cloud.  These bespoke solutions integrate with established tools like Azure Sentinel to deliver a continually evolving security baseline, enhancing posture and reducing the risk of costly cyber-attacks.



Artificial Intelligence (AI)

The Group has continued to invest significant time and resource into developing out it's AI proposition in the last 12 months.


The last year has seen the Group harness Microsoft Azure's Data & AI capabilities to empower organisations with actionable insights, smarter decisions, and innovative solutions.  The Group has also leveraged AI internally to deliver significant productivity gains across the business, including providing insights for our sales team to automating workflows and enhancing data analytics.


The Group continues to see AI as a key differentiator going forward.


Datacentre and Azure

The Group remains well positioned to advise and assist customers on their journey to the cloud.  Generated from our secure and sustainable Nutanix platform, associated datacentre and Azure revenues have continued to increase and are now in excess of £1.7m.


Acquisitions

M&A continues to be a core element of the Group's strategy.


During the year we completed the acquisition of C2 Software Limited, a Microsoft Dynamics specialist with over 25 years' experience in the market.  C2 was fully integrated in the year and has enhanced our skillset within the Dynamics division, enabling us to offer an enriched set of products and services.


The Group remains active in the M&A market with a number of discussions currently ongoing.




Kick ICT Group Limited (Registered number: SC503166)



Group Strategic Report

For The Year Ended 30 September 2024


PRINCIPAL RISKS AND UNCERTAINTIES

The following risks have been identified as having the potential to have a significant effect on the performance of the Group:


Customers

With respect to customer retention and acquisition, the Group operates in a competitive environment across multiple product sets and geographies.  The scale of our customer base across the UK mitigates this risk and specific processes focussed on customer retention and outstanding product, service and support delivery, manage the risks associated with retaining and growing our customer base.


Acquisitions

The Group will continue its strategy of complementary acquisitions across all divisions.  There can be no guarantee however, that satisfactory acquisition terms will be agreed, which will impact the planned rate of expansion.  In addition, post-acquisition there is no certainty that the associated customer base can be integrated, retained and developed. Resource focussed on deal terms, due diligence and integration are designed to mitigate and manage the risks associated with growing the Group.


Technology

There is competition from existing and emerging technologies across all divisions within the Group.  The Board recognises this risk and seeks to mitigate by engaging with industry leading vendors such as Microsoft and Infor as well as operating a formal "stack" selection process to ensure that all of our product, service and support offerings are positioned appropriately within our chosen markets and provide outstanding value for money.


Employees

Employee retention and the ability to identify and recruit suitably talented staff is a key risk factor directly impacting the Group's growth ambitions.  As we develop, our people development programme alongside our "grow our own" Kick Academy graduate scheme and talent acquisition queue across all divisions are specifically designed to mitigate the employee risk and support our growth.


Liquidity

The Group has significant cash reserves and considerable backing from its funding partner TDC and shareholders LDC. The primary operational credit risk relates to trade debtors, which the Group manages by a formal credit limit process underpinned by dedicated credit control working to monthly cash collection targets.  In addition, there is a rigorous "next three years" financial planning model, which ensures development and acquisition spend, is appropriately planned, managed and controlled.


KEY PERFORMANCE INDICATORS

Performance is monitored on a regular basis against the following KPI's



2024



2023




Turnover



£28,750k



£26,009k



Recurring revenue %



72%



72%




EBITDA



£4,603k



£3,307k



EBITDA %



16%



10%




Back order book (days)



4,475



2,094



Pipeline



£10,513k



£9,300k



Customer retention/ NPS



9.2



9.2






Kick ICT Group Limited (Registered number: SC503166)



Group Strategic Report

For The Year Ended 30 September 2024


ESG

The Group believe that integrating environmental, social and governance ("ESG") considerations across the business enables us to accelerate our customers' success whilst looking after the environment and society.  The Group continues to develop its ESG roadmap with key initiatives in the last year including:


- Cycle to work scheme

- Electric vehicle salary sacrifice scheme

- Partnering with Ecotricity as our preferred energy supplier

- Monitoring carbon footprint and targeting of annual reduction in carbon emissions

- Introduction of employee charity days

- Real living wage employer

- External GDPR audit

- New internal whistleblowing platform rolled out


EMPLOYEES

Engagement

The Group is committed to creating an environment where employees feel valuated, motivated and inspired to perform at their best.  The Group believes that our employees' contribution is directly proportional to our company's success, and as the Group continues to grow, the Group remains dedicated to nurturing this as a fundamental aspect of our business.  Initiatives used to promote employee engagement include:


- Open Communication Channels: The Group encourages open and transparent communication at all levels, and senior management demonstrate this with regular townhall events.  Our annual Employee Engagement Survey, now in its third year, continues to provide invaluable insights and used to shape the engagement strategy going forward.

- Recognition and Rewards: The Group believes in recognising and rewarding employees for their contributions and achievements through award events, team incentives and by encouraging teams to share successes on the Intranet.

- Professional Development:  Through the Kick Academy, the Group continues to develop the next generation of IT experts as more graduates were welcomed this year.  In addition, the Group invests in the professional development of its employees, offering training programs and workshops to enhance skills, knowledge and career growth.  The employee appraisal process allows for two-way feedback on development progress and ambitions to encourage and promote employees reaching their full potential.


Equal Opportunities

The Group is committed to providing equal opportunities for all employees, regardless of their background, race, gender, age, sexual orientation, disability or any other characteristic.  The Group believes it is essential for deriving innovation and for building a culture of respect and belonging.  Commitment is shown by:


- Diversity and Inclusion Policies: The Group has established comprehensive diversity and inclusion policies that promote a culture of respect, fairness and equity.

- Recruitment and Hiring Policies: The Group employs a fair and inclusive recruitment and hiring practices to attract a diverse pool of candidates.

- Training and Awareness: The Group provides training and awareness programs to educate employees about diversity, including and unconscious bias.  These programs aim to foster greater awareness, empathy, and understanding amount employees and promote a culture of respect and inclusivity.




Kick ICT Group Limited (Registered number: SC503166)



Group Strategic Report

For The Year Ended 30 September 2024


FUTURE DEVELOPMENTS

Divisions

The Group operates 5 distinct divisions: Infor, Dynamics (Microsoft), Technical, Comms and KickSecure which provide the platform for our single source solution provider strategy.  The Group will continue the growth and investment in each of the divisions alongside the exciting, advanced plans for acquisitions to open up new markets and associated new divisions for the Group.


Outlook

The Group will continue to invest to support our mission statement of "adding value and providing outstanding service to the customers who choose to work with us".


2025 will be another exciting year for the Group and we look forward with optimism to progressing our plans to enter new markets and provide additional product and service offerings to our existing and new customers.


Thank You

We deeply appreciate the trust and loyalty of our long-standing customers, as well as those who have recently joined us. It's a privilege to be your trusted technology partner, and we're committed to delivering the expertise and support you rely on.


Our growth and success wouldn't be possible without the dedication of our talented team and the strong partnerships we've built along the way. Their hard work and collaboration enable us to continue providing exceptional service and innovative solutions.


ON BEHALF OF THE BOARD:






T O'Hara C.A - Director



18 March 2025



Kick ICT Group Limited (Registered number: SC503166)



Report of the Directors

For The Year Ended 30 September 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.


DIVIDENDS

No interim dividend was paid on the Ordinary £1 shares, A Ordinary £1 shares or B Ordinary £1 shares. The directors recommend that no final dividend be paid on these shares.


The total distribution of dividends for the year ended 30 September 2024 will be £nil.


DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.


T O'Hara C.A

J Kenny

G L Neville


Other changes in directors holding office are as follows:


R J Pugh - resigned 23 December 2023

A McDonald - appointed 3 January 2024


A L Turnbull ceased to be a director after 30 September 2024 but prior to the date of this report.


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.


Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.  In preparing these financial statements, the directors are required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


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


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.



Kick ICT Group Limited (Registered number: SC503166)



Report of the Directors

For The Year Ended 30 September 2024



AUDITORS

The auditors,  Robb Ferguson, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






T O'Hara C.A - Director



18 March 2025


Report of the Independent Auditors to the Members of

Kick ICT Group Limited


Opinion

We have audited the financial statements of Kick ICT Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the group 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 directors' 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 group's and the parent 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 directors with respect to going concern are described in the relevant sections of this report.


Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


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.


In connection with our audit of the financial statements, 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 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 the audit:

-

the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.


Report of the Independent Auditors to the Members of

Kick ICT Group Limited



Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-

the parent company financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


Report of the Independent Auditors to the Members of

Kick ICT Group Limited



Auditors' 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 a Report of the Auditors 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:


Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-  The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-  We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our wider knowledge and experience;

-  We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and FRS 102

-  We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-  Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-  Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-  Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations


Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

-  Performed analytical procedures to identify any unusual or unexpected relationships;

-  Tested journal entries to identify unusual transactions;

-  Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and

-  Investigated the rationale behind significant or unusual transactions.


In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-  Agreeing financial statement disclosures to underlying supporting documentation;

-  Enquiring of management as to actual and potential litigation and claims; and

-  Requesting correspondence with HMRC and Companies House.


There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management  and the inspection of regulatory  and legal correspondence, if any.


Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


Report of the Independent Auditors to the Members of

Kick ICT Group Limited



Use of our report

This report is made solely to the company's members, as a body, 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 members those matters we are required to state to them in a Report of the Auditors 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 members as a body, for our audit work, for this report, or for the opinions we have formed.





Graham Cantlay CA (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ


19 March 2025



Kick ICT Group Limited (Registered number: SC503166)



Consolidated

Statement of Comprehensive

Income

For The Year Ended 30 September 2024



2024


2023


Notes

£   

£   



TURNOVER

28,749,915


26,008,984




Cost of sales

12,806,695


11,958,601



GROSS PROFIT

15,943,220


14,050,383




Administrative expenses

11,366,309


10,743,075



4,576,911


3,307,308




Other operating income

26,382


-










OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION


4,603,293


3,307,308









Amortisation and depreciation

1,960,967


1,791,597










OPERATING PROFIT

5

2,642,326


1,515,711




Foreign exchange losses

6

(94,000

)

-



Mergers & Acquisitions

6

(89,002

)

(20,000

)


Reorganisation costs

6

(76,030

)

(44,535

)


2,383,294


1,451,176




Interest receivable and similar income

3,398


-



2,386,692


1,451,176



Gain/loss on revaluation of investments

11,818


-



2,398,510


1,451,176




Interest payable and similar expenses

7

668,683


496,055



PROFIT BEFORE TAXATION

1,729,827


955,121




Tax on profit

8

378,637


424,970



PROFIT FOR THE FINANCIAL YEAR

1,351,190


530,151




OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

1,351,190


530,151




Profit attributable to:

Owners of the parent

1,331,692


501,822



Non-controlling interests

19,498


28,329



1,351,190


530,151





Kick ICT Group Limited (Registered number: SC503166)



Consolidated

Statement of Comprehensive

Income

For The Year Ended 30 September 2024



2024


2023

£   

£   



Total comprehensive income attributable to:

Owners of the parent

1,331,692


501,822



Non-controlling interests

19,498


28,329



1,351,190


530,151





Kick ICT Group Limited (Registered number: SC503166)



Consolidated Statement of Financial Position

30 September 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

11

11,816,637


11,973,184



Tangible assets

12

170,232


184,676



Investments

13

91,192


-



12,078,061


12,157,860




CURRENT ASSETS

Stocks

14

50,264


58,262



Debtors

15

4,556,046


5,041,147



Cash at bank and in hand

3,271,443


1,348,602



7,877,753


6,448,011



CREDITORS

Amounts falling due within one year

16

9,874,857


5,269,389



NET CURRENT (LIABILITIES)/ASSETS

(1,997,104

)

1,178,622



TOTAL ASSETS LESS CURRENT

LIABILITIES

10,080,957


13,336,482




CREDITORS

Amounts falling due after more than one year

17

-


(3,865,356

)



PROVISIONS FOR LIABILITIES

21

(22,625

)

(9,359

)



DEFERRED INCOME

22

(3,375,509

)

(4,092,232

)


NET ASSETS

6,682,823


5,369,535





Kick ICT Group Limited (Registered number: SC503166)



Consolidated Statement of Financial Position - continued

30 September 2024



2024

2023



Notes

£   

£   

£   

£   


CAPITAL AND RESERVES

Called up share capital

23

166,668


166,668



Capital redemption reserve

24

50,000


50,000



Retained earnings

24

6,423,052


5,091,360



SHAREHOLDERS' FUNDS

6,639,720


5,308,028




NON-CONTROLLING INTERESTS

43,103


61,507



TOTAL EQUITY

6,682,823


5,369,535





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




Kick ICT Group Limited (Registered number: SC503166)



Company Statement of Financial Position

30 September 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

11

9,363,288


6,450,052



Tangible assets

12

169,638


150,127



Investments

13

5,000,002


6,809,040



14,532,928


13,409,219




CURRENT ASSETS

Stocks

14

39,977


37,125



Debtors

15

3,495,484


2,809,485



Cash at bank and in hand

2,943,457


885,605



6,478,918


3,732,215



CREDITORS

Amounts falling due within one year

16

13,133,698


6,930,631



NET CURRENT LIABILITIES

(6,654,780

)

(3,198,416

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

7,878,148


10,210,803




CREDITORS

Amounts falling due after more than one year

17

-


(3,865,356

)



PROVISIONS FOR LIABILITIES

21

(18,561

)

(721

)



DEFERRED INCOME

22

(2,547,033

)

(2,122,315

)


NET ASSETS

5,312,554


4,222,411




CAPITAL AND RESERVES

Called up share capital

23

166,668


166,668



Capital redemption reserve

24

50,000


50,000



Retained earnings

24

5,095,886


4,005,743



SHAREHOLDERS' FUNDS

5,312,554


4,222,411




Company's profit for the financial year

1,090,143


203,090




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




Kick ICT Group Limited (Registered number: SC503166)



Consolidated Statement of Changes in Equity

For The Year Ended 30 September 2024



Called up


Capital


share


Retained


redemption


capital


earnings


reserve

£   

£   

£   


Balance at 1 October 2022

166,668


4,975,405


50,000




Changes in equity

Dividends

-


(385,867

)

-



Total comprehensive income

-


501,822


-



Balance at 30 September 2023

166,668


5,091,360


50,000




Changes in equity

Total comprehensive income

-


1,331,692


-



166,668


6,423,052


50,000



Acquisition of non-controlling

interest

-


-


-



Balance at 30 September 2024

166,668


6,423,052


50,000




Non-controlling


Total


Total


interests


equity

£   

£   

£   


Balance at 1 October 2022

5,192,073


33,178


5,225,251




Changes in equity

Dividends

(385,867

)

-


(385,867

)


Total comprehensive income

501,822


28,329


530,151



Balance at 30 September 2023

5,308,028


61,507


5,369,535




Changes in equity

Total comprehensive income

1,331,692


19,498


1,351,190



6,639,720


81,005


6,720,725



Acquisition of non-controlling

interest

-


(37,422

)

(37,422

)


Balance at 30 September 2024

6,639,720


43,583


6,683,303





Kick ICT Group Limited (Registered number: SC503166)



Company Statement of Changes in Equity

For The Year Ended 30 September 2024



Called up


Capital



share


Retained


redemption


Total


capital


earnings


reserve


equity

£   

£   

£   

£   


Balance at 1 October 2022

166,668


4,188,520


50,000


4,405,188




Changes in equity

Dividends

-


(385,867

)

-


(385,867

)


Total comprehensive income

-


203,090


-


203,090



Balance at 30 September 2023

166,668


4,005,743


50,000


4,222,411




Changes in equity

Total comprehensive income

-


1,090,143


-


1,090,143



Balance at 30 September 2024

166,668


5,095,886


50,000


5,312,554





Kick ICT Group Limited (Registered number: SC503166)



Consolidated Statement of Cash Flows

For The Year Ended 30 September 2024



2024


2023


Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

3,171,191


2,821,243



Interest paid

(110,469

)

(496,055

)


Tax paid

(406,110

)

(331,538

)


Net cash from operating activities

2,654,612


1,993,650




Cash flows from investing activities

Purchase of intangible fixed assets

(2,546,005

)

(316,721

)


Purchase of tangible fixed assets

(75,095

)

(81,901

)


Cash obtained on acquisition

794,174


-



Interest received

3,398


-



Net cash from investing activities

(1,823,528

)

(398,622

)



Cash flows from financing activities

New loans in year

5,901,292


-



Loan repayments in year

(4,805,988

)

(3,017,607

)


Amount withdrawn by directors

(3,547

)

(719

)


Equity dividends paid

-


(385,867

)


Net cash from financing activities

1,091,757


(3,404,193

)



Increase/(decrease) in cash and cash equivalents

1,922,841


(1,809,165

)


Cash and cash equivalents at beginning of

year

2

1,348,602


3,157,767




Cash and cash equivalents at end of year

2

3,271,443


1,348,602





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Statement of Cash Flows

For The Year Ended 30 September 2024


1.

RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS



2024


2023

£   

£   



Profit before taxation

1,729,827


955,121




Depreciation charges

1,960,967


1,791,597




Gain on revaluation of fixed assets

(11,818

)

-




Finance costs

668,683


496,055




Finance income

(3,398

)

-



4,344,261


3,242,773




Decrease in stocks

7,998


12,596




Decrease in trade and other debtors

220,269


229,452




Decrease in trade and other creditors

(1,401,337

)

(663,578

)



Cash generated from operations

3,171,191


2,821,243




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:



Year ended 30 September 2024


30.9.24


1.10.23

£   

£   



Cash and cash equivalents

3,271,443


1,348,602




Year ended 30 September 2023


30.9.23


1.10.22

£   

£   



Cash and cash equivalents

1,348,602


3,157,767





3.

ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS



At 1.10.23

Cash flow

At 30.9.24

£   

£   

£   



Net cash



Cash at bank and in hand

1,348,602


1,922,841


3,271,443



1,348,602


1,922,841


3,271,443




Debt


Debts falling due within 1 year

(940,632

)

940,632


-




Debts falling due after 1 year

(3,865,356

)

3,865,356


-



(4,805,988

)

4,805,988


-




Total

(3,457,386

)

6,728,829


3,271,443





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements

For The Year Ended 30 September 2024


1.

STATUTORY INFORMATION



Kick ICT Group 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 General 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" 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 comprises the value of goods and services supplied by the company, exclusive of Value Added Tax and trade discounts. Revenue is not recognised until the amount of revenue can be measured reliably and it is probable that the company will receive the consideration due. Turnover includes maintenance contract income that is recognised over the period of a contract on a straight line basis.  Revenue from the sale of goods and licences is recognised once the company has transferred the significant risk and rewards of ownership to the buyer.



Goodwill

Goodwill representing the excess of the cost of the acquisition of subsidiary undertakings over the fair value of the assets acquired and other purchased goodwill, is capitalised in the year of acquisition and is being amortised evenly over its useful life of ten years.


Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Computer software is being amortised evenly over its estimated useful life of ten years.


Development expenditure is capitalised where the directors are satisfied as to the technical, commercial and financial viability of the individual project. In such cases, the identifiable expenditure, including a proportion of wages costs are deferred and amortised over the period by which the company is expected to benefit which is currently assessed as ten years.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Fixed plant and equipment

-    

33.33% on cost, 25% on cost and 25% - 50% per annum straight line


Fixtures and fittings

-          

33.33% on cost, 25% on cost, 25% on reducing balance, 25% on reducing balance, 20% on cost and 10% and 25% straight line  


Motor vehicles

-

25% on cost


Computer equipment

-

25% on cost



Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.



Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


2.

ACCOUNTING POLICIES - continued



Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

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 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.


Pension costs and other post-retirement benefits


The group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to the statement of comprehensive income in the period to which they relate.



Investments


Investments held as fixed assets are stated at cost less provision for any permanent diminution in value.


3.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY



The preparation of the financial statements requires management to make judgements, estimates  and assumptions that affect the amounts reported for assets and liabilities reported at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements.



Amortisation and Depreciation



The estimates and assumptions used to determine the amortisation and depreciation charge requires judgements to be made as regards asset useful lives and residual values. The useful lives and residual values of the company's fixed assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on historical experience with similar assets. Historically, changes in useful lives have not resulted in material changes to the company's amortisation and depreciation charge.



Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


4.

EMPLOYEES AND DIRECTORS


2024


2023

£   

£   



Wages and salaries

8,467,261


8,607,775




Social security costs

13,457


88,602




Other pension costs

316,742


339,209



8,797,460


9,035,586





The average number of employees during the year was as follows:


2024


2023



Management

4


3




Administration

34


38




Sales

20


16




Technical

47


36




Applications

63


65




Comms

7


9



175


167





2024


2023

£   

£   



Directors' remuneration

113,925


672,486




Directors' pension contributions to money purchase schemes  

48,717


46,316




5.

OPERATING PROFIT



The operating profit is stated after charging:



2024


2023

£   

£   



Depreciation - owned assets

89,539


77,740




Goodwill amortisation

1,691,280


1,590,109




Computer software amortisation

180,149


123,749




Auditors' remuneration

25,540


30,660




Foreign exchange differences

3,331


4,507




6.

EXCEPTIONAL ITEMS


2024


2023

£   

£   



Foreign exchange losses

(94,000

)

-




Mergers & Acquisitions

(89,002

)

(20,000

)



Reorganisation costs

(76,030

)

(44,535

)


(259,032

)

(64,535

)




Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


7.

INTEREST PAYABLE AND SIMILAR EXPENSES



2024


2023

£   

£   



Bank loan interest

110,469


496,055




Intercompany loan interest

558,214


-



668,683


496,055




8.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


2024


2023

£   

£   



Current tax:


UK corporation tax

337,505


425,732





Deferred tax

41,132


(762

)



Tax on profit

378,637


424,970





UK corporation tax has been charged at 25 % (2023 - 22 %).



Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:



2024


2023

£   

£   



Profit before tax

1,729,827


955,121




Profit multiplied by the standard rate of corporation tax in the UK of 25 %

(2023 - 22 %)  

432,457


210,127





Effects of:


Expenses not deductible for tax purposes

94,894


(125,743

)



Utilisation of tax losses

(31,191

)

-




Timing  

290,035


341,348




Group relief  

(448,691

)

-




Deferred tax movement  

41,133


(762

)



Total tax charge

378,637


424,970




9.

INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME



As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.




Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


10.

DIVIDENDS


2024


2023

£   

£   



Ordinary shares of £1 each


Interim

-


385,867




11.

INTANGIBLE FIXED ASSETS



Group


Computer



Goodwill


software


Totals

£   

£   

£   



COST


At 1 October 2023

16,199,138


1,225,980


17,425,118




Additions

1,135,526


443,736


1,579,262




Reclassification/transfer

-


189,238


189,238




At 30 September 2024

17,334,664


1,858,954


19,193,618




AMORTISATION


At 1 October 2023

4,856,476


595,458


5,451,934




Amortisation for year

1,691,280


180,149


1,871,429




Reclassification/transfer

-


53,618


53,618




At 30 September 2024

6,547,756


829,225


7,376,981




NET BOOK VALUE


At 30 September 2024

10,786,908


1,029,729


11,816,637




At 30 September 2023

11,342,662


630,522


11,973,184





Company


Computer



Goodwill


software


Totals

£   

£   

£   



COST


At 1 October 2023

8,183,570


1,095,380


9,278,950




Additions

3,911,307


292,536


4,203,843




At 30 September 2024

12,094,877


1,387,916


13,482,793




AMORTISATION


At 1 October 2023

2,275,691


553,207


2,828,898




Amortisation for year

1,179,683


110,924


1,290,607




At 30 September 2024

3,455,374


664,131


4,119,505




NET BOOK VALUE


At 30 September 2024

8,639,503


723,785


9,363,288




At 30 September 2023

5,907,879


542,173


6,450,052





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


12.

TANGIBLE FIXED ASSETS



Group


Fixed


Fixtures



plant and


and


Motor


Computer



equipment


fittings


vehicles


equipment


Totals

£   

£   

£   

£   

£   



COST


At 1 October 2023

1,009,259


219,060


9,460


933


1,238,712




Additions

75,095


-


-


-


75,095




At 30 September 2024

1,084,354


219,060


9,460


933


1,313,807




DEPRECIATION


At 1 October 2023

859,698


185,547


7,858


933


1,054,036




Charge for year

81,128


6,809


1,602


-


89,539




At 30 September 2024

940,826


192,356


9,460


933


1,143,575




NET BOOK VALUE


At 30 September 2024

143,528


26,704


-


-


170,232




At 30 September 2023

149,561


33,513


1,602


-


184,676





Company


Fixed


Fixtures



plant and


and


Motor



equipment


fittings


vehicles


Totals

£   

£   

£   

£   



COST


At 1 October 2023

1,036,749


214,925


18,955


1,270,629




Additions

75,095


-


-


75,095




Reclassification/transfer

88,882


1,914


-


90,796




At 30 September 2024

1,200,726


216,839


18,955


1,436,520




DEPRECIATION


At 1 October 2023

919,382


183,767


17,353


1,120,502




Charge for year

66,967


5,726


1,602


74,295




Reclassification/transfer

70,849


1,236


-


72,085




At 30 September 2024

1,057,198


190,729


18,955


1,266,882




NET BOOK VALUE


At 30 September 2024

143,528


26,110


-


169,638




At 30 September 2023

117,367


31,158


1,602


150,127





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


13.

FIXED ASSET INVESTMENTS



Group


Unlisted


investments

£   



COST OR VALUATION


Revaluations

11,817




Reclassification/transfer

79,375




At 30 September 2024

91,192




NET BOOK VALUE


At 30 September 2024

91,192





Cost or valuation at 30 September 2024 is represented by:



Unlisted


investments

£   



Valuation in 2024

11,817




Cost

79,375



91,192




Company


Unlisted


investments

£   



COST


At 1 October 2023

6,809,040




Additions

2,102,269




Impairments

(3,911,307

)



At 30 September 2024

5,000,002




NET BOOK VALUE


At 30 September 2024

5,000,002




At 30 September 2023

6,809,040





The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:



Subsidiaries



Talon Business Solutions Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00




Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


13.

FIXED ASSET INVESTMENTS - continued



Castle Computer Services Ltd.


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00




Kick Business Software Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00




Kick Infrastructure Solutions Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00




Kick Comms Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

94.78




Consilium U.K. Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00




Kicksecure Ltd.


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Dormant


%


Class of shares:

holding



Ordinary

100.00




C2 Software Limited


Registered office: Solais House, 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, ML4 3NJ


Nature of business: Information technology and consultancy


%


Class of shares:

holding



Ordinary

100.00





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


14.

STOCKS



Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Stocks

50,264


58,262


39,977


37,125




15.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Trade debtors

3,359,345


2,907,006


3,010,707


2,441,310




Amounts owed by group undertakings

75,083


-


98,076


9,596




Other debtors

19,131


81,767


13,526


74,795




Directors' current accounts

32,642


47,607


32,642


47,607




Prepayments and accrued income

1,069,845


2,004,767


340,533


236,177



4,556,046


5,041,147


3,495,484


2,809,485




16.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Bank loans and overdrafts (see note 18)

-


940,632


-


940,632




Trade creditors

1,511,569


1,474,268


1,637,797


856,358




Amounts owed to group undertakings

5,832,953


-


9,819,337


3,414,123




Tax

320,525


455,851


122,656


116,276




Social security and other taxes

277,669


266,299


240,997


232,386




VAT

604,996


624,023


410,355


486,088




Other creditors

51,916


59,017


48,306


53,857




Accruals and deferred income

1,275,229


1,449,299


854,250


830,911



9,874,857


5,269,389


13,133,698


6,930,631




17.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR




Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Bank loans (see note 18)

-


3,865,356


-


3,865,356





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


18.

LOANS



An analysis of the maturity of loans is given below:



Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Amounts falling due within one year or on

demand:



Bank loans

-


940,632


-


940,632




Amounts falling due between one and two

years:



Bank loans - 1-2 years

-


665,356


-


665,356




Amounts falling due between two and five

years:



Bank loans - 2-5 years

-


3,200,000


-


3,200,000




19.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Group


Non-cancellable operating

leases


2024

2023


£   

£   



Within one year

195,834


217,072




Between one and five years

69,531


55,611



265,365


272,683





Company


Non-cancellable operating

leases


2024

2023


£   

£   



Within one year

179,117


215,450




Between one and five years

60,011


55,611



239,128


271,061





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


20.

SECURED DEBTS



The following secured debts are included within creditors:



Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Bank loans

-


4,805,988


-


4,805,988





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.


21.

PROVISIONS FOR LIABILITIES



Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Deferred tax

22,625


9,359


18,561


721





Group


Deferred



tax


£   



Balance at 1 October 2023

9,359




Provided during year

41,132




Acquired company b/f

(27,866

)



Balance at 30 September 2024

22,625





Company


Deferred



tax


£   



Balance at 1 October 2023

721




Provided during year

17,840




Balance at 30 September 2024

18,561




22.

DEFERRED INCOME



Group


Company


2024

2023

2024

2023


£   

£   

£   

£   



Accruals and deferred income

3,375,509


4,092,232


2,547,033


2,122,315





Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


23.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:





Number


Class



Nominal

value


Opening

capital


Reclassification


Closing capital





119,457


Ordinary



£1


119,457


47,211


166,668




46,994


A

Ordinary



£1


46,994


(46,994)


-




217


B

Ordinary



£1


217


(217)


-






166,668



166,668




24.

RESERVES



Group


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 October 2023

5,091,360


50,000


5,141,360




Profit for the year

1,331,692


1,331,692




At 30 September 2024

6,423,052


50,000


6,473,052





Company


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 October 2023

4,005,743


50,000


4,055,743




Profit for the year

1,090,143


1,090,143




At 30 September 2024

5,095,886


50,000


5,145,886





25.

CONTINGENT LIABILITIES



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



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



Kick ICT Group Limited (Registered number: SC503166)



Notes to the Consolidated Financial Statements - continued

For The Year Ended 30 September 2024


26.

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES



The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:


2024

2023


£   

£   



T O'Hara C.A


Balance outstanding at start of year

17,891


17,172




Amounts advanced

-


719




Amounts repaid

(1,440

)

-




Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

16,451


17,891





A L Turnbull


Balance outstanding at start of year

16,190


16,190




Amounts repaid

-


-




Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

16,190


16,190





D M Chazan


Balance outstanding at start of year

13,526


13,526




Amounts repaid

(13,526

)

-




Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

-


13,526




27.

ULTIMATE CONTROLLING PARTY



For the year ended 30 September 2024, the company is under the control of T O'Hara C.A, D M Chazan, A L


Turnbull and LDC (Nominees) Limited by virtue of their shareholdings in Solais Topco Limited which in turn


controls Solais Limited which became the company's immediate parent company.