KOVRR UK LTD Filleted Accounts Cover
KOVRR UK LTD
Company No. 12203698
Information for Filing with The Registrar
31 December 2024
KOVRR UK LTD Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2024.
Principal activities
The principal activity of the company during the year under review was business support software services.
Directors
The Directors who served at any time during the year were as follows:
Y. Golan
I. Nakar
L. Vinas Fenandez
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Y. Golan
Director
11 June 2025
KOVRR UK LTD Balance Sheet Registrar
at
31 December 2024
Company No.
12203698
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
-292
-292
Current assets
Debtors
5
1,498,0551,363,253
Cash at bank and in hand
1,65033,335
1,499,7051,396,588
Creditors: Amount falling due within one year
6
(1,352,484)
(1,349,119)
Net current assets
147,22147,469
Total assets less current liabilities
147,22147,761
Net assets
147,22147,761
Capital and reserves
Called up share capital
100100
Revaluation reserve
9
--
Capital redemption reserve
49,22131,503
Profit and loss account
9
97,90016,158
Total equity
147,22147,761
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 11 June 2025 and signed on its behalf by:
Y. Golan
Director
11 June 2025
KOVRR UK LTD Notes to the Accounts Registrar
for the year ended 31 December 2024
1
General information
KOVRR UK LTD is a private company limited by shares and incorporated in England and Wales.
The company's registered number is: 12203698
The address of the company's registered office is:
C/O Fkgb Accounting
201 Haverstock Hill
London
NW3 4QG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
Going concern
These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.
2
Accounting policies
Turnover
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
33% Straight line
Research and development costs
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
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. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Cash and cash equivalents
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.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Share based payments
Share-based payment arrangements in which the entity receives goods or services as consideration for its own equity instruments are accounted for as equity-settled share-based payment transactions, regardless of how the equity instruments are obtained by the entity.
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured based on using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Where the terms and conditions of options are modified before they vest, the increase in the fair value of options, measured immediately before and after the modification, is also charged to the Profit and Loss account over the remaining vesting period.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
33
4
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 January 2024
4,5074,507
At 31 December 2024
4,5074,507
Depreciation
At 1 January 2024
4,2154,215
Charge for the year
292292
At 31 December 2024
4,5074,507
Net book values
At 31 December 2024
--
At 31 December 2023
292
292
5
Debtors
2024
2023
£
£
Amounts owed by group undertakings
1,485,4551,362,675
VAT recoverable
2,551578
Other debtors
10,000-
Prepayments and accrued income
49-
1,498,0551,363,253
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
7,822-
Amounts owed to group undertakings
1,289,978
1,310,673
Taxes and social security
24,456
12,205
Other creditors
27,30521,434
Accruals and deferred income
2,9234,807
1,352,4841,349,119
7
Share based payments
The company operates an employee share option plan, no options have been granted in 2024 (2023: 31,025) for shares in the company.
During the year, share based payment expenses of £17,718 were recognised in respect of share options that vested during the year.
Details of the share options outstanding during the year are as follows:
Weighted average exercise price
Number
Weighted average exercise price
Number
2024
2024
2023
2023
Outstanding as at beginning of year
0.01
38,190
0.01
14,366
Granted during the year
0.01
-
0.01
31,025
Cancelled during the year
0.01
(1,631)
0.01
(7,201)
Outstanding as at the end of the year
0.01
36,559
0.01
38,190
2024
2023
Option pricing model used:
Black- scholes
Black- scholes
Share price (USD)
2.61
2.61
Exercise price (USD)
0.01
0.01
Contractual life (years)
2.00
2.00
Expected volatility
63.02%
63.02%
Risk-free interest rate
3.77%
4.87%
2024
2023
£
£
Equity-settled schemes
49,221
31,503
8
Share Capital
The company has issued 100 fully paid ordinary shares of £1 each, amounting to a total share capital of £100 (2023: £100).
9
Reserves
Other reserves
Total other reserves
£
£
At 1 January 2023
17,984
17,984
Transfers
13,519
13,519
At 31 December 2023 and 1 January 2024
31,503
31,503
Movement in other reserves
17,718
17,718
At 31 December 2024
49,22149,221
Other reserve - reflects the movement of equity-settled schemes.
Profit and loss account - includes all current and prior period retained profits and losses.
10
Related party disclosures
Transactions with related parties
The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related part disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Kovrr INC (US)
The parent's registered office address is:
108 W 13th Street
Wilmington
United States
19801
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