Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07095209 Mr Clive Atkins Mr Paul Toms true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07095209 2023-12-31 07095209 2024-12-31 07095209 2024-01-01 2024-12-31 07095209 frs-core:CapitalRedemptionReserve 2024-12-31 07095209 frs-core:ShareCapital 2024-12-31 07095209 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07095209 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07095209 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07095209 frs-bus:SmallEntities 2024-01-01 2024-12-31 07095209 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07095209 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07095209 1 2024-01-01 2024-12-31 07095209 frs-core:UnlistedNon-exchangeTraded 2024-12-31 07095209 frs-core:UnlistedNon-exchangeTraded 2023-12-31 07095209 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 07095209 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 07095209 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 07095209 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 07095209 frs-bus:Director1 2024-01-01 2024-12-31 07095209 frs-bus:Director2 2024-01-01 2024-12-31 07095209 frs-countries:EnglandWales 2024-01-01 2024-12-31 07095209 frs-core:Subsidiary1 2024-01-01 2024-12-31 07095209 frs-core:Subsidiary1 2024-12-31 07095209 frs-core:Subsidiary1 1 2024-01-01 2024-12-31 07095209 2022-12-31 07095209 2023-12-31 07095209 2023-01-01 2023-12-31 07095209 frs-core:CapitalRedemptionReserve 2023-12-31 07095209 frs-core:ShareCapital 2023-12-31 07095209 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07095209
Koris365 Central Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Koris365 Central Holdings Limited
Contents
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Koris365 Central Holdings Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 07095209
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 200,100 200,100
200,100 200,100
CURRENT ASSETS
Debtors 5 59,801 59,800
59,801 59,800
NET CURRENT ASSETS (LIABILITIES) 59,801 59,800
TOTAL ASSETS LESS CURRENT LIABILITIES 259,901 259,900
NET ASSETS 259,901 259,900
CAPITAL AND RESERVES
Called up share capital 6 209,900 209,900
Capital redemption reserve 50,000 50,000
Profit and Loss Account 1 -
SHAREHOLDERS' FUNDS 259,901 259,900
For the year ending 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Clive Atkins
Director
08/09/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Koris365 Central Holdings Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Koris365 Central Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07095209 . The registered office is 8 Grovelands Business Centre, Boundary Way, Hemel Hempstead, Hertfordshire, HP2 7TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 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.
Koris365 Central Holdings Limited is a wholly owned subsidiary of MXLG Intermediate Holdings Limited, which in turn is a wholly owned subsidiary of MXLG Acquisitions Limited. Therefore, the results of Koris365 Central Holdings Limited are included in the consolidated financial statements of MXLG Acquisitions Limited which are available from The Walbrook Building, 25 Walbrook, London, England, EC4N 8AF
2.2. Going Concern Disclosure
The company had net current assets at 31 December 2024 of £59,801 (2023 - £59,800).
The directors have carried out a detailed review of the forecasts for the period to 30 June 2025, with due regard for the risks and uncertainties to which the business is exposed, as well as available mitigating actions such as controlling certain expenditures. The company has access to working capital funding from group
companies under common ownership as well as access to undrawn committed revolving credit facilities of £1 million granted to its immediate parent undertaking, MXLG Intermediate Holdings Limited. MXLG Intermediate Holdings Limited has confirmed continued financial support for a period of at least 12 months from the date of signing of these financial statements.
After making enquiries and considering the above facts, the directors therefore reasonably expect that the company has adequate resources to continue to operate for at least 12 months after the signing date of these financial statements. The financial statements do not include adjustments that would be required if the company were unable to continue as a going concern.
2.3. Investments
Interests in subsidiaries 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.
2.4. Profit and loss account
The company has not traded during the year or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements.
2.5. Impairment of fixed assets
The carrying amounts of such assets are reviewed at each reporting date for indications of impairment and where an asset is impaired, it is written down as an expense through profit or loss to estimated recoverable amount. Recoverable amount is the higher of value in use and the fair value less costs of disposal of the
individual asset.
Value in use is the present value of the estimated future cash flows of the asset. Present values are computed using pre-tax discount rates that reflect the time value of money and the risks specific to the asset whose impairment is being measured.
Page 2
Page 3
Koris365 Central Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. 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 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 amounts owed by group undertakings and other debtors, 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investments
Unlisted
£
Cost or Valuation
As at 1 January 2024 200,100
As at 31 December 2024 200,100
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 200,100
As at 1 January 2024 200,100
Subsidiaries
Details of the company's subsidiaries as at 31 December 2024 are as follows:
Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
Koris365 Central Limited 8 Grovelands Business Centre, Boundary Way, Hemel Hempstead, Hertfordshire, HP2 7TE Ordinary 100.00% -
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
Capital and Reserves Profit/(loss)
£ £
Koris365 Central Limited 4,977,386 (122,575 )
Page 3
Page 4
Koris365 Central Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 900 900
Other debtors 58,901 58,900
59,801 59,800
Amounts owed by group undertakings are interest free and repayable on demand.
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 209,900 209,900
The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights.
They do not confer any rights of redemption.
7. Post Balance Sheet Events
Share allotment
On 1 April 2025 5,196,353 ordinary shares of £1 each were issued.
Special Resolution - Capital reduction
On 16 April 2025 5,406,253 ordinary shares of £1 were cancelled leaving 1 ordinary share of £1 remaining.
On 16 April 2025 the entire £50,000 capital redemption reserve was cancelled and credited to the profit and loss account.
Satisfaction of fixed charge
On 13 August 2025 the fixed charge in favour of National Westminster Bank plc was satified.
8. Controlling Parties
MXLG Acquisitions Limited, a company registered in England and Wales, is the smallest and largest group from which consolidated accounts are drawn up. These accounts are available from the registered office of MXLG Acquisitions Limited, The Walbrook Building, 25 Walbrook, London, England, EC4N 8AF.
In the opinion of the directors, there is no single ultimate controlling party.
Page 4