Company registration number 03930050 (England and Wales)
DATACORE SOFTWARE UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Faulkner House
Victoria Street
Rayner Essex LLP
St Albans
Chartered Accountants
Hertfordshire
AL1 3SE
DATACORE SOFTWARE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
DATACORE SOFTWARE UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
102,607
202,802
Current assets
Debtors
6
2,454,265
2,243,854
Cash at bank and in hand
36,633
149,800
2,490,898
2,393,654
Creditors: amounts falling due within one year
7
(350,957)
(367,947)
Net current assets
2,139,941
2,025,707
Net assets
2,242,548
2,228,509
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
2,241,548
2,227,509
Total equity
2,242,548
2,228,509

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 October 2025 and are signed on its behalf by:
K Thimble
Director
Company registration number 03930050 (England and Wales)
DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Datacore Software UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Faulkner House, Victoria Street, St Albans, Hertfordshire, AL1 3SE.

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 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 only result of the reduced disclosure requirement is that the company is not required to prepare a strategic report or a cash flow statement.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention basis, The principal accounting policies adopted are set out below.

Datacore Software UK Limited is a 100% subsidiary of Datacore Software B.V., a company registered in the Netherlands and the results of Datacore Software UK Limited are included in the consolidated financial statements of the ultimate holding company, Datacore Software Holdings LLC, a company registered in the United States of America. These consolidated financial statements are available from 1901 West Cypress Creek Road, Suite 200, Fort Lauderdale, FL3309.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for commission charged to the ultimate parent company under a cost plus arrangement, and services provided to third parties in the normal course of business. Turnover is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10 years straight line
Computer equipment
3 years straight line
Fixtures and fittings
10 years straight line
Demo Equipment
2 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting end date, the company simply reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss and the asset is written down to that value.

DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash at bank and in hand

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies that are classified as debt, are recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised at transaction price.

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
Taxation

The tax expense represents the sum of the tax currently payable, the tax credit repayable in respect of prior year research and development tax relief claims, and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

31 December
31 December
2024
2023
Number
Number
Total
14
14
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
16,606
23,594
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
186,460
660,271
846,731
Depreciation and impairment
At 1 January 2024
124,827
519,102
643,929
Depreciation charged in the year
18,607
81,588
100,195
At 31 December 2024
143,434
600,690
744,124
Carrying amount
At 31 December 2024
43,026
59,581
102,607
At 31 December 2023
61,633
141,169
202,802
DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
31 December
31 December
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,895
3,262
Amounts due from group undertakings
2,299,195
2,112,759
Other debtors
59,342
56,005
Prepayments and accrued income
88,833
71,828
2,454,265
2,243,854
7
Creditors: amounts falling due within one year
31 December
31 December
2024
2023
£
£
Trade creditors
36,505
11,389
Amounts owed to group undertakings
-
0
9,804
Corporation tax
35,853
31,417
Other taxation and social security
66,887
78,154
Other creditors
211,712
237,183
350,957
367,947
8
Called up share capital
31 December
31 December
31 December
31 December
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Simon Essex FCA
Statutory Auditor:
Rayner Essex LLP
Date of audit report:
2 October 2025
10
Events after the reporting date

On 5 February 2025 the company acquired the trade and assets of Pixit Media Limited for consideration of £11.4m. This business has been absorbed into Datacore Software UK Limited subsequent to the year end.

11
Related party transactions
Transactions with related parties

The company has taken advantage of FRS 102 section 33.1A to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

12
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
144,853
145,883
Between two and five years
156,923
303,924
301,776
449,807
DATACORE SOFTWARE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
13
Parent Company

The company's immediate parent company is Datacore Software B.V., a company registered in the Netherlands. The company's ultimate holding company is Datacore Software Holdings LLC, a company registered in the United States of America.

For the period ended 31 December 202 4 the group in which the accounts of the company are consolidated is headed by Datacore Software Corporation, a company registered in the United States of America.

The consolidated accounts of this company are held at 1901 West Cypress Creek Road, suite 200 Fort Lauderdale, FL3309.

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