| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| KDAB (UK) Ltd |
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| KDAB (UK) Ltd |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Other Comprehensive Income | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| KDAB (UK) Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Report of the Directors |
| for the Year Ended 31 December 2024 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of software development. |
| RESEARCH AND DEVELOPMENT |
| Research & development costs have been written off in the year incurred. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Income Statement |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Administrative expenses |
| (176,454 | ) | 37,519 |
| Other operating income |
| OPERATING (LOSS)/PROFIT | ( |
) |
| Interest receivable and similar income |
| (LOSS)/PROFIT BEFORE TAXATION | 5 | ( |
) |
| Tax on (loss)/profit | 6 | ( |
) | ( |
) |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Other Comprehensive Income |
| for the Year Ended 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| (LOSS)/PROFIT FOR THE YEAR | ( |
) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 December 2023 |
| Changes in equity |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 31 December 2024 |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| KDAB (UK) Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparation |
| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework": |
| • | the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment; |
| • | the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations; |
| • | the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations; |
| • | the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources; |
| • | the requirements of IFRS 7 Financial Instruments: Disclosures; |
| • | the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement; |
| • | the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases; |
| the requirements of paragraph 58 of IFRS 16; |
| • | the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers; |
| • | the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of: |
| - | paragraphs 53(a), (h) and (j) of IFRS 16; |
| - | paragraph 79(a)(iv) of IAS 1; |
| - | paragraph 73(e) of IAS 16 Property, Plant and Equipment; |
| - | paragraph 118(e) of IAS 38 Intangible Assets; |
| - | paragraphs 76 and 79(d) of IAS 40 Investment Property; and |
| - | paragraph 50 of IAS 41 Agriculture; |
| • | the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1; |
| • | the requirements of |
| - | paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and |
| - | paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7; |
| • | the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors; |
| • | the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes; |
| • | the requirements of paragraph 74(b) of IAS 16; |
| • | the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures; |
| • | the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group; |
| • | the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets. |
| Turnover |
| The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer. |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Employee benefit costs |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
| 3. | TURNOVER |
| The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company. |
| 4. | EMPLOYEES AND DIRECTORS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Wages and salaries | 773,224 | 768,960 |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 31.12.24 | 31.12.23 |
| Director | 1 | 1 |
| Administration | 1 | 1 |
| Software developers | 11 | 11 |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Directors' remuneration |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | (LOSS)/PROFIT BEFORE TAXATION |
| The loss before taxation (2023 - profit before taxation) is stated after charging: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Depreciation - owned assets |
| Loss on disposal of fixed assets |
| Foreign exchange differences |
| 6. | TAXATION |
| Analysis of tax income |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Current tax: |
| Tax | ( |
) | ( |
) |
| Total tax income in income statement | ( |
) | ( |
) |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Other debtors consisted of the following: |
| £ |
| Taxation 12,452 |
| VAT 4,875 |
| Rent deposit 1,200 |
| Prepayments 12,285 |
| Other debtor 10 |
| _______ |
| 30,822 |
| _______ |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| Other creditors consisted of the following: |
| £ |
| Credit card 7 |
| Pension 7,234 |
| ______ |
| 7,241 |
| ______ |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | .01 | 10 | 10 |
| KDAB (UK) Ltd (Registered number: SC411490) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2024 |
| Deficit for the year | ( |
) |
| At 31 December 2024 |
| 12. | ULTIMATE PARENT COMPANY |
| Rysktorp Holding AB (incorporated in Sweden ) is regarded by the directors as being the company's ultimate parent company. |
| 13. | RELATED PARTY DISCLOSURES |
| A balance of £474,947 (€574,537) due from parent company Klaralvdalens Datakonsult AB was included in trade debtors as at 31st December 2024. |
| A balance of £1,491 ($1,867) due from group company KDAB (USA) LLC was included in trade debtors as at 31st December 2024. |
| 14. | ULTIMATE CONTROLLING PARTY |