Company registration number 08847022 (England and Wales)
CONCENTRIX SERVICES UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
CONCENTRIX SERVICES UK LIMITED
COMPANY INFORMATION
Directors
Andrew Albert Farwig
Jane Catherine Fogarty
Secretary
Jane Catherine Fogarty
Company number
08847022
Registered office
Pillsbury Winthrop Shaw Pittman LLP
Level 34
100 Bishopsgate
London
EC2N 4AG
Auditor
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Bank of America Merrill Lynch
2 King Edward Street
London EC1A 1HQ
United Kingdom
CONCENTRIX SERVICES UK LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 17
CONCENTRIX SERVICES UK LIMITED
STRATEGIC REPORT
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 1 -

Introduction

The directors present their report and the financial statements for the 8 month period ended 30 November 2024.

 

Concentrix Services UK Limited is exempt from preparing group accounts as consolidated accounts, including its subsidiaries, are produced at a higher level in the group and are publicly available. As such, this entity's accounts present information about it as an individual undertaking, rather than as a group.

 

Accounts are presented in US$ as this is the usual transaction currency of the company.

Principal activities

The company is a non-trading holding company.

Review of the business

The company has taken various actions during the period as a subsidiary of Concentrix Corporation (NASDAQ: CNXC) ["the group"] in order to streamline and rationalise the group structure on a country-by-country basis.

 

This has involved a change in the immediate parent company, the disposal of the two investments in subsidiary undertakings which were held as at the previous balance sheet date and the transfer in of two subsidiary undertakings that were previously held indirectly.

 

Key performance indicators

Given the non-trading nature of the Company, the Directors are of the opinion that an analysis using KPI's is unnecessary for provision of an understanding of the development, performance or position of the business.

Post balance sheet events

There are no events or transactions subsequent to the balance sheet date that require disclosure within these financial statements.

Principal risks and uncertainties

The company's strategy is to follow an appropriate risk policy, which effectively manages exposures related to the achievement of business objectives. The key risks which the company faces are detailed as follows:

 

Financial and business control

Strong financial and business controls are necessary to ensure the integrity and reliability of financial and other information on which the company relies for day-to-day operations, external reporting and for long term planning. The company exercises financial and business control through a combination of: qualified and experienced financial teams; performance analysis; budgeting and cash flow forecasting and clearly defined approval limits.

 

Financial risk management policy

The company’s principal financial instruments comprise cash, trade debtors and creditors. The main risks associated with these financial assets and liabilities are set out below.

 

Foreign currency risk

Foreign exchange policy is managed at a group level by the ultimate parent company.

CONCENTRIX SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 2 -

Credit risk

Credit risk arises principally on revenues. Company policy is aimed at minimising such risk and requires that deferred terms are granted only to customers who demonstrate an appropriate payment history and satisfy creditworthiness procedures. Individual exposures are monitored with customers subject to credit limits to ensure that the company’s exposure to bad debts is not significant.

Liquidity risk

The company’s liquidity risk is managed by the company’s directors through daily assessment of required cash levels and resultant utilisation of various available facilities if required. The directors do not believe that the company has significant exposures arising from liquidity risks.

 

Interest rate and price risk

The directors do not believe that the company has significant exposures arising from interest rate or price risks.

On behalf of the board

Jane Catherine Fogarty
Director
22 August 2025
CONCENTRIX SERVICES UK LIMITED
DIRECTORS' REPORT
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 3 -

The directors present their annual report and financial statements for the 8 month period ended 30 November 2024.

 

Change in accounting period

 

During the period the accounting reference date was shortened from 31 March 2025 to 30 November 2024.

Principal activities

The company is a non-trading holding company.

Directors

The directors who held office during the 8 month period and up to the date of signature of the financial statements were as follows:

Andrew Albert Farwig
Jane Catherine Fogarty
Results and dividends

During the year a dividend of $144,229k (31 March 2024: $nil) was paid to the shareholders of the company.

Political contributions
The company did not make any political contributions during the current or previous period.
Going concern
The Company's business activities, together with the factors likely to affect its future development, are set out in the Strategic Report and Directors' report. The Company had net assets of $25,413k at 30 November 2024. As such, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis.
Future developments

The directors do not anticipate any changes to the nature of the business in the foreseeable future. However, changes in the subsidiary undertaking structure and immediate ownership structure of the company have occurred as outlined in the Strategic Report as part of the strategic goals of the Concentrix Group to align affiliated companies of the same jurisdiction in the same ownership chain to allow operational and structural efficiencies to be achieved.

Auditor

In accordance with the company's articles, a resolution proposing that Ormerod Rutter Limited be reappointed as auditor of the company will be put at a General Meeting.

CONCENTRIX SERVICES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 4 -
Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Jane Catherine Fogarty
Director
22 August 2025
CONCENTRIX SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CONCENTRIX SERVICES UK LIMITED
- 5 -
Opinion

We have audited the financial statements of Concentrix Services UK Limited (the 'company') for the 8 month period ended 30 November 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

CONCENTRIX SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CONCENTRIX SERVICES UK LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

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

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

Based on our understanding of the company and the industry, we identified that the principal risks of non-compliance with laws and regulations including those that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, and the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed included:

 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

CONCENTRIX SERVICES UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CONCENTRIX SERVICES UK LIMITED (CONTINUED)
- 7 -

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 an auditor's report 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.

William Jonathan Roberts FCCA
Senior Statutory Auditor
For and on behalf of Ormerod Rutter Limited
27 August 2025
Chartered Accountants
Statutory Auditor
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CONCENTRIX SERVICES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 8 -
Period
Year
ended
ended
30 November
31 March
2024
2024
$000
$000
Turnover
-
-
Administrative expenses
-
0
4,188
Operating profit
-
4,188
Amounts written off investments
56,364
-
Profit before taxation
56,364
4,188
Tax on profit
-
0
-
0
Profit for the financial 8 month period
56,364
4,188

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CONCENTRIX SERVICES UK LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 9 -
30 November 2024
31 March 2024
Notes
$000
$000
$000
$000
Fixed assets
Investments
6
13,536
178,159
Current assets
Debtors
8
12,258
33
Creditors: amounts falling due within one year
9
(381)
(64,914)
Net current assets/(liabilities)
11,877
(64,881)
Net assets
25,413
113,278
Capital and reserves
Called up share capital
10
8,171
81,708
Share premium account
11
-
0
32,169
Profit and loss reserves
17,242
(599)
Total equity
25,413
113,278

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 22 August 2025 and are signed on its behalf by:
Jane Catherine Fogarty
Director
Company registration number 08847022 (England and Wales)
CONCENTRIX SERVICES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 10 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
$000
$000
$000
$000
Balance at 1 April 2023
81,708
32,169
(4,787)
109,090
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
4,188
4,188
Balance at 31 March 2024
81,708
32,169
(599)
113,278
Period ended 30 November 2024:
Profit and total comprehensive income
-
-
56,364
56,364
Dividends
5
-
-
(144,229)
(144,229)
Reduction of shares
10
(73,537)
(32,169)
105,706
-
0
Balance at 30 November 2024
8,171
-
0
17,242
25,413
CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 11 -
1
Accounting policies
Company information

Concentrix Services UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pillsbury Winthrop Shaw Pittman LLP, Level 34, 100 Bishopsgate, London, EC2N 4AG.

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.

The financial statements have been prepared under the historical cost convention. 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:

 

 

This information is included in the consolidated financial statements of Concentrix Corporation and these financial statements may be obtained from the U.S. Securities and Exchange Commission.

The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The Company's business activities, together with the factors likely to affect its future development, are set out in the Directors' report. The Company had net assets of $25,412k at 30 November 2024. The Company's current funding has been provided by other Group companies, who have confirmed that there is no intention to seek repayment of this funding in the foreseeable future. Therefore, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis.true

1.3
Reporting period

To align the period end with that of Concentrix Corporation, the accounting reference period originally ending on 31 March 2025 has been shortened to end on 30 November 2024.

CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.4
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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

 

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

 

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The Directors do not consider there to be any judgements or estimates which would materially affect the financial statements other than the valuation of Investments.

 

Investments are held at cost and are reviewed annually for impairment. The directors assess the carrying value of the Investments against the subsidiaries' financial position, financial performance and forecast performance.

CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 15 -
3
Auditor's remuneration
2024
2024
Fees payable to the company's auditor and associates:
$000
$000
For audit services
Audit of the financial statements of the company
4
4

The total auditors remuneration of $4k (31 March 2024: $4k) is borne by a fellow group undertaking.

4
Employees

The Directors’ total emoluments for the year were paid by various companies within Concentrix Corporation. The Directors do not believe that it is practicable to apportion this amount between their services as directors of the Company and their services as employees and Directors of other companies within the Group. The Company has no employees other than the Directors.

5
Dividends
2024
2024
$000
$000
Final paid
144,229
-
0
6
Fixed asset investments
2024
2024
Notes
$000
$000
Investments in subsidiaries
7
13,536
178,159
Movements in fixed asset investments
Shares in subsidiaries
$000
Cost or valuation
At 1 April 2024
178,159
Additions
13,536
Disposals
(178,159)
At 30 November 2024
13,536
Carrying amount
At 30 November 2024
13,536
At 31 March 2024
178,159
CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 16 -
7
Subsidiaries

Details of the company's subsidiaries at 30 November 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Concentrix CRM Services UK
Limited
Tower 42 Level 23 , 25 Old Broad
Street, London, United Kingdom
Ordinary
100.00
-
Concentrix Business Services
UK Limited
Tower 42 Level 23 , 25 Old Broad
Street, London, United Kingdom
Ordinary
100.00
-
Concentrix CRM Services
Germany GmbH
Im Eichsfeld 6, Rüsselsheim, Germany
Ordinary
0
100.00

The company has taken various actions during the period in order to streamline and rationalise the group structure on a country-by-country basis.

 

This has involved the disposal of the two investments in subsidiary undertakings which were held as at the previous balance sheet date and the transfer in of two subsidiary undertakings that were previously held indirectly.

8
Debtors
2024
2024
Amounts falling due within one year:
$000
$000
Amounts owed by group undertakings
12,258
33
9
Creditors: amounts falling due within one year
2024
2024
Amounts owed to group undertakings
382
64,915

Included in amounts owed to group undertakings is an interest free loan with a balance of $nil (31 March 2024: $64,505,274) payable to Concentrix Investment Holdings Singapore 3 Pte. Ltd.

CONCENTRIX SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 8 MONTH PERIOD ENDED 30 NOVEMBER 2024
- 17 -
10
Share capital
2024
2024
$000
$000
Ordinary share capital
Issued and fully paid
81,708,390 Ordinary shares of $1.00 each
8,171
81,708
11
Reserves

Share premium account

 

The share premium represents the value of shares in excess of the par value of the shares. Any transaction costs associated with the issuing of shares are deducted from the share premium.

 

Profit and loss account

 

This reserve includes all current and prior period retained profits and losses which are considered distributable.

12
Related party transactions

The company has taken advantage of the exemption available under FRS 102 "Related Party Disclosures" as a 100% owned subsidiary to not separately disclose transactions with other companies that are owned 100% by the group. Group accounts are not required as consolidated accounts are produced at a higher level in the group.

13
Ultimate controlling party

The immediate parent undertaking is Concentrix CX UK Limited, a company incorporated in the United Kingdom.

The ultimate parent undertaking, and the only company within the group of undertakings to consolidate these financial statements up to 30 November 2024, was Concentrix Corporation, a publicly listed company (NASDAQ: CNXC) incorporated in the United States of America, and with its registered office situated at 39899 Balentine Drive, Newark, California 94560, United States. Copies of these group financial statements are available from www.concentrix.com.

 

The company regards Concentrix Corporation as the ultimate controlling party.

14
Events after the reporting date

There were no other events subsequent to the balance sheet date which require disclosure in these financial statements.

2024-11-302024-04-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.200Andrew Albert FarwigJane Catherine FogartyJane Catherine Fogarty0088470222024-04-012024-11-3008847022bus:Director12024-04-012024-11-3008847022bus:CompanySecretaryDirector12024-04-012024-11-3008847022bus:CompanySecretary12024-04-012024-11-3008847022bus:Director22024-04-012024-11-3008847022bus:RegisteredOffice2024-04-012024-11-30088470222024-11-30088470222023-04-012024-03-3108847022core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3108847022core:RetainedEarningsAccumulatedLosses2024-04-012024-11-30088470222024-03-3108847022core:CurrentFinancialInstrumentscore:WithinOneYear2024-11-3008847022core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3108847022core:ShareCapital2024-11-3008847022core:ShareCapital2024-03-3108847022core:SharePremium2024-11-3008847022core:SharePremium2024-03-3108847022core:RetainedEarningsAccumulatedLosses2024-11-3008847022core:RetainedEarningsAccumulatedLosses2024-03-3108847022core:ShareCapital2023-03-3108847022core:SharePremium2023-03-3108847022core:RetainedEarningsAccumulatedLosses2023-03-3108847022core:ShareCapitalOrdinaryShareClass12024-11-3008847022core:ShareCapitalOrdinaryShareClass12024-03-3108847022core:ShareCapital2024-04-012024-11-3008847022core:SharePremium2024-04-012024-11-3008847022core:Non-currentFinancialInstruments2024-11-3008847022core:Non-currentFinancialInstruments2024-03-3108847022core:Subsidiary12024-04-012024-11-3008847022core:Subsidiary22024-04-012024-11-3008847022core:Subsidiary32024-04-012024-11-3008847022core:Subsidiary112024-04-012024-11-3008847022core:Subsidiary222024-04-012024-11-3008847022core:Subsidiary332024-04-012024-11-3008847022core:CurrentFinancialInstruments2024-11-3008847022core:CurrentFinancialInstruments2024-03-3108847022bus:PrivateLimitedCompanyLtd2024-04-012024-11-3008847022bus:FRS1022024-04-012024-11-3008847022bus:Audited2024-04-012024-11-3008847022bus:FullAccounts2024-04-012024-11-30xbrli:purexbrli:sharesiso4217:GBP