Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30false2023-10-01falseBusiness and domestic software development66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09687973 2023-10-01 2024-09-30 09687973 2022-10-01 2023-09-30 09687973 2024-09-30 09687973 2023-09-30 09687973 c:Director1 2023-10-01 2024-09-30 09687973 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 09687973 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 09687973 d:CurrentFinancialInstruments 2024-09-30 09687973 d:CurrentFinancialInstruments 2023-09-30 09687973 d:Non-currentFinancialInstruments 2024-09-30 09687973 d:Non-currentFinancialInstruments 2023-09-30 09687973 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09687973 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09687973 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 09687973 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 09687973 d:ShareCapital 2024-09-30 09687973 d:ShareCapital 2023-09-30 09687973 d:SharePremium 2024-09-30 09687973 d:SharePremium 2023-09-30 09687973 d:RetainedEarningsAccumulatedLosses 2024-09-30 09687973 d:RetainedEarningsAccumulatedLosses 2023-09-30 09687973 c:OrdinaryShareClass4 2023-10-01 2024-09-30 09687973 c:OrdinaryShareClass4 2024-09-30 09687973 c:OrdinaryShareClass4 2023-09-30 09687973 c:FRS102 2023-10-01 2024-09-30 09687973 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09687973 c:FullAccounts 2023-10-01 2024-09-30 09687973 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09687973 d:Subsidiary1 2023-10-01 2024-09-30 09687973 d:Subsidiary1 1 2023-10-01 2024-09-30 09687973 2 2023-10-01 2024-09-30 09687973 6 2023-10-01 2024-09-30 09687973 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-10-01 2024-09-30 09687973 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09687973









KIM TECHNOLOGIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
KIM TECHNOLOGIES LIMITED
REGISTERED NUMBER: 09687973

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
31,756
152,759

Investments
 5 
1,601,948
1,601,948

  
1,633,704
1,754,707

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
133,992
372,430

Cash at bank and in hand
  
125,286
43,525

  
259,278
415,955

Creditors: amounts falling due within one year
 7 
(2,015,298)
(2,065,711)

NET CURRENT LIABILITIES
  
 
 
(1,756,020)
 
 
(1,649,756)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(122,316)
104,951

Creditors: amounts falling due after more than one year
 8 
(4,461,673)
(4,154,140)

  

NET LIABILITIES
  
(4,583,989)
(4,049,189)


CAPITAL AND RESERVES
  

Called up share capital 
 9 
14,500
14,500

Share premium account
  
3,641,294
3,641,294

Profit and loss account
  
(8,239,783)
(7,704,983)

  
(4,583,989)
(4,049,189)


Page 1

 
KIM TECHNOLOGIES LIMITED
REGISTERED NUMBER: 09687973
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr K E Chapman
Director

Date: 17 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Kim Technologies Limited is a private company, limited by shares and incorporated in England & Wales. Its registered office is c/o Squire Patton Boggs (UK) LLP, Rutland House, Edmund Street, Birmingham, England B3 2JR.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

As at 30 September 2024 the Company had net liabilities amounting to £4,583,989 (2023 - £4,049,189). After making appropriate enquires, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. The ability of the Company to continue or grow its operations from the current level is dependent on the ability of the Company to continue growing its sales and to obtain additional funding to meet the working capital requirements. The directors are confident that the Company will be able to raise the necessary funding to meet future working capital requirements. In the event that financing is not available, the Company will reduce its activities and/or put projects on hold until such time that there is future funding available. 
For this reason they adopt the going concern basis when preparing the financial statements. The financial statements do not include any adjustment in respect of the Company not being able to continue as a going concern. 

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

RESEARCH AND DEVELOPMENT

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.

 
2.6

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

FINANCE COSTS

Finance costs are charged to profit or loss 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 capital instrument.

Page 4

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

 
2.14

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 6

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


INTANGIBLE ASSETS




Software development

£



COST


At 1 October 2023
2,519,875



At 30 September 2024

2,519,875



AMORTISATION


At 1 October 2023
2,367,116


Charge for the year on owned assets
121,003



At 30 September 2024

2,488,119



NET BOOK VALUE



At 30 September 2024
31,756



At 30 September 2023
152,759



Page 7

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 October 2023
1,601,948



At 30 September 2024
1,601,948





SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Kim Technologies LLC
USA
Software development
Ordinary
100%

Kim Technologies LLC is incorporated in the United States of America as a limited liability company. Kim Technologies LLC holds intellectual property rights and specialises in the design and development of specialist work flow software. 


6.


DEBTORS

2024
2023
£
£


Trade debtors
18,936
283,109

Other debtors
1,691
22,110

Prepayments and accrued income
39,893
67,211

Tax recoverable
73,472
-

133,992
372,430


Page 8

 
KIM TECHNOLOGIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
175,437
187,950

Other taxation and social security
19,949
22,826

Other creditors
1,347,660
1,054,468

Accruals and deferred income
472,252
800,467

2,015,298
2,065,711


Other creditors include contributions of £1,253 (2023 - £1,028) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Other creditors
4,461,673
4,154,140



9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,450,023 (2023 - 1,450,023) Ordinary shares of £0.01 each
14,500
14,500




 
Page 9