Company registration number 12490650 (England and Wales)
ARCHER ACQUISITION COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
ARCHER ACQUISITION COMPANY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
ARCHER ACQUISITION COMPANY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr R C Atkins
Mr G J Page
Mr D R Rabson
Company number
12490650
Registered office
Acora House
Albert Drive
Burgess Hill
West Sussex
RH15 9TN
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
ARCHER ACQUISITION COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
37,765,557
37,765,557
Current assets
Debtors
5
27,424,990
28,078,856
Creditors: amounts falling due within one year
6
(78,039,606)
(78,039,624)
Net current liabilities
(50,614,616)
(49,960,768)
Net liabilities
(12,849,059)
(12,195,211)
Capital and reserves
Called up share capital
7
459
459
Share premium account
45,424
45,424
Profit and loss reserves
(12,894,942)
(12,241,094)
Total equity
(12,849,059)
(12,195,211)
ARCHER ACQUISITION COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2025 and are signed on its behalf by:
Mr G J Page
Director
Company registration number 12490650 (England and Wales)
ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Archer Acquisition Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

 

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements; and

- Section 33 ‘Related Party Disclosures’: Disclosure of intragroup transactions.

 

The financial statements of the company are consolidated in the financial statements of Archer Topco Limited. These consolidated financial statements are available from its registered office, Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN.

ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. true

 

The directors have reviewed detailed forecasts of expected revenues, expenditure, cash flows and compliance with banking covenants for the next 3 years as part of preparing the business plans for the Group. As part of the budgeting process each year sensitivity analysis is prepared to assess the risk of not being able to meet its liabilities for the next 12 months. As such, the directors believe that the Group will be able to settle its liabilities as they fall due for a period of 12 months from the date of signing the financial statements and therefore consider that it is appropriate to prepare these financial statements on a going concern basis.

1.3
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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

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.

1.5
Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.6
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

1.7
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.

1.8

Finance costs and borrowing costs

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated debt instrument and amortised using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Employees
(Continued)
- 7 -

The directors are remunerated by another company within the Group.

3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
37,765,557
37,765,557
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Acora Holdings Limited
Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN
Holding Company
£1 Ordinary
100
-
Acora Limited
Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN
Technology
£1 Ordinary
0
100
Computer Service Centre Limited
Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN
Technology
£1 Ordinary
0
100
Infosec Partners MAK DOOEL Skopje
Ulica Mitropolit Teodosij Gologanov 54A 1111 Skopje
Technology
EUR 1 Ordinary
0
100
Acora Netherlands BV
Joop Geesinkweg 701, 1114 AB Amsterdam-Duivendrecht, Netherlands
Technology
EUR 1 Ordinary
0
51
Elastacloud Limited
Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN
Technology
£1 Ordinary
0
100
Elastacloud LLC
30 N Gould St, Suite R, Sheridan, WY 82801, US
Technology
$1 Ordinary
0
100
Elastacloud LLP
Ground Floor, Beech E1 Block, Manyata Embassy Business Park, Outer Ring Road, Bangalore 560045, Karn
Technology
INR 1 Ordinary
0
100
Elastacloud SL
C/ Arraez 11 CP 04003- Almeria, Spain
Technology
EUR 1 Ordinary
0
100
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
27,424,989
27,425,007
Other debtors
1
1
27,424,990
27,425,008
2024
2023
ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Debtors
(Continued)
- 8 -
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
653,848
Total debtors
27,424,990
28,078,856
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
18
Amounts owed to group undertakings
78,039,606
78,039,606
78,039,606
78,039,624

Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

 

LDC (Managers) Limited and Ares Management Limited hold a fixed and floating charge over the Company's assets.

7
Called up share capital
2024
2023
Ordinary share capital
£
£
A Ordinary of 1p each
459
459
8
Related party transactions

The company has applied exemptions available in s33.1A of FRS102 not to disclose transactions with wholly owned group undertakings.

 

9
Parent company

The parent company of Archer Acquisition Company Limited is Archer Topco Limited and the ultimate parent company is Albany Bidco Limited. The registered office of both companies is Acora House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN.

 

Albany Bidco Limited has no one ultimate controlling party.

ARCHER ACQUISITION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
10
Reserves

Share premium

Includes any premiums received on issue of share capital, where the transaction value of the share issued exceeds the nominal value of the share. Any transaction costs associated with the issuing of shares are deducted from the share premium.

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