ACCOUNTS - Final Accounts

Registered number: 09164883

CLIENTVAULT UK PTY LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

CLIENTVAULT UK PTY LTD

REGISTERED NUMBER: 09164883

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	154,595		52,974
		154,595		52,974
Creditors: amounts falling due within one year	6	(243,855)		(99,210)
Net current liabilities			(89,260)		(46,236)
Total assets less current liabilities			(89,260)		(46,236)

Net liabilities			(89,260)		(46,236)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(89,360)	(46,336)
		(89,260)	(46,236)

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 statement of comprehensive income 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:

R Telerman

Director

Date: 24 September 2025

The notes on pages 2 to 6 form part of these financial statements.

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CLIENTVAULT UK PTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Clientvault UK PTY Ltd is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 9 King Street, London, EC2V 8EA.
The principal activity of the company during the year has been the provision of property technology consulting services and outsourced managed services.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The company has net liabilities of £89,260 (2023:46,236) and the company is dependent on the support of its parent, MRI Software LLC and fellow group companies, via intercompany loans and
shared resources. The directors anticipate that this support will continue for at least 12 months from the approval of the financial statements, and for this reason, the accounts have been prepared on the going concern basis.

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CLIENTVAULT UK PTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

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 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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

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 profit or loss within 'other operating income'.

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.

Licence revenue, including Saas (Software-as-a-Service) contracts and similar contracts which
include maintenance and software support, is recognised from the point at which the customer
makes a commitment to purchase the product, and will then be recognised on a straight line basis
over the life of the contract.
Income from development and consultancy, including training, is recognised as these services are
provided to the customer.

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CLIENTVAULT UK PTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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.

2.6

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 accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.7

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 reporting date in the countries where the company operates
and generates income.

2.8

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.

2.9

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.	Judgments in applying accounting policies and key sources of estimation uncertainty

a) Critical judgements in applying the company's accounting policies
No significant judgements have had to be made by the company in preparing these financial statements.
b) Key accounting estimates and assumptions
Bad debt provision
The company has made key estimates in respect of the level of bad debt provision required. A general
provision is held, as well as specific provisions being made where the recoverability of debts is uncertain.

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CLIENTVAULT UK PTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 9).

Debtors

					2024	2023
					£	£


Trade debtors	18,577	9,591
Amounts owed by group undertakings	136,003	43,383
Other debtors	15	-
	154,595	52,974

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	3,116	2,105
Amounts owed to group undertakings	227,621	71,314
Other taxation and social security	10,071	3,877
Other creditors	-	34
Accruals and deferred income	3,047	21,880
	243,855	99,210

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

8.	Controlling party

Clientvault UK Pty Ltd is a wholly owned subsidiary of Vault Group Pty Limited, a limited liability company incorporated in Sydney, Australia. The ultimate parent company is MRI Intermediate Holdings LLC, a llimited liability company incorporated in Delaware, USA.

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CLIENTVAULT UK PTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 26 September 2025 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.

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