REGISTERED NUMBER: 04099969 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

nQ Zebraworks Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C H Hagglund

C A Rabie

S J Allert

P J Hewson

REGISTERED OFFICE:

First Floor

7 Marina Court

Maple Drive

Hinckley

LE10 3BF

REGISTERED NUMBER:

04099969 (England and Wales)

AUDITORS:

Gopsall Audit Services Limited

Chartered Accountants

Statutory Auditor

4 HRFC Business Centre

Leicester Road

Hinckley

Leicestershire

LE10 3DR

FIXED ASSETS

Tangible assets

6

12,242

3,809

CURRENT ASSETS

Debtors

7

245,144

236,624

Cash at bank

27,305

61,637

272,449

298,261

CREDITORS

Amounts falling due within one year

8

275,929

278,964

NET CURRENT (LIABILITIES)/ASSETS

(3,480

)

19,297

TOTAL ASSETS LESS CURRENT LIABILITIES

8,762

23,106

CAPITAL AND RESERVES

Called up share capital

10

4

4

Retained earnings

11

8,758

23,102

SHAREHOLDERS' FUNDS

8,762

23,106

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:

C H Hagglund - Director

1.	STATUTORY INFORMATION

nQ Zebraworks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements have been rounded to the nearest Pound (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going Concern

The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.

The company is reliant on the support of the ultimate parent company, who has indicated their willingness to continue to support the company for a minimum of 12 months from the date of signing these financial statements and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the amounts invoiced during the year, exclusive of value added tax, modified as follows:

Software licence

Licence fees for software sales are recognised as revenue at the point when the customer is in agreement for a 'live-operation' position (i.e. when all users can use the system on a fully functional basis).

Support and maintenance

Revenue from support and maintenance contracts is recognised on a straight line basis over the period of the contract.

Consulting services

Consulting and other service related revenues are recognised over the period in which the services are provided. This is determined on either a percentage of completion or time and material basis, depending on the particular type of contract.

Tangible fixed assets

Depreciation is provided to write off each asset over its useful life. The annual rates are applied on a straight line basis over 3 or 4 years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

5.	AUDITORS' REMUNERATION

The group accounts of the ultimate parent company Reckon Limited ('Reckon') discloses remuneration receivable by the auditors for non-audit services. Reckon is listed on the Australian stock exchange and prepares consolidated financial statements which are publicly available from Level 2, 100 Pacific Highway, North Sydney, NSW 2060, Australia.

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

6,330

Additions

12,360

At 31 December 2024

18,690

DEPRECIATION

At 1 January 2024

2,521

Charge for year

3,927

At 31 December 2024

6,448

NET BOOK VALUE

At 31 December 2024

12,242

At 31 December 2023

3,809

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade debtors

29,392

65,278

Amounts owed by group undertakings

198,989

151,731

Other debtors

7,096

7,096

Prepayments

9,667

12,519

245,144

236,624

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Trade creditors

-

9

Taxation and social security

51,677

41,400

Other creditors

224,252

237,555

275,929

278,964

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

as restated

£

£

Within one year

22,938

45,876

Between one and five years

-

22,938

22,938

68,814

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

as restated

£

£

4

Ordinary

1

4

4

11.

RESERVES

Retained

earnings

£

At 1 January 2024

(16,175

)

Prior year adjustment

39,277

23,102

Profit for the year

15,656

Dividends

(30,000

)

At 31 December 2024

8,758

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter White (Senior Statutory Auditor)

for and on behalf of Gopsall Audit Services Limited

13.	PENSION COMMITMENTS

Pension commitments outstanding at the balance sheet date totalled £2,281 (2023 - £2,222).

14.	PARENT COMPANIES

The directors consider the company's ultimate parent undertaking of the largest group to be Reckon Limited ('Reckon'), a company incorporated in Australia. Reckon is listed on the Australian stock exchange and prepares consolidated financial statements which are publicly available from Level 2, 100 Pacific Highway, North Sydney, NSW 2060, Australia.

The directors consider the company's immediate parent undertaking of the smallest group to be nQ Zebraworks Inc, a company incorporated in the USA, with the registered address of 3150 North Arizona Avenue #105, Chandler, AZ 85225, USA.