Locus Software Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 06210075

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		27,690		43,664

			27,690		43,664
CURRENT ASSETS
Debtors		801,078		693,494
Cash at bank and in hand		46,599		195,438

		847,677		888,932
Creditors: Amounts Falling Due Within One Year		(736,841 )		(838,039 )

NET CURRENT ASSETS (LIABILITIES)			110,836		50,893

TOTAL ASSETS LESS CURRENT LIABILITIES			138,526		94,557

Creditors: Amounts Falling Due After More Than One Year	5		(75,138 )		(209,444 )

NET ASSETS/(LIABILITIES)			63,388		(114,887 )

CAPITAL AND RESERVES
Called up share capital			1,430		1,430
Share premium account			69,570		69,570
Profit and Loss Account			(7,612 )		(185,887 )

SHAREHOLDERS' FUNDS			63,388		(114,887)

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Locus Software Ltd

Abridged Balance Sheet (continued)

As At 30 April 2025

For the year ending 30 April 2025 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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr K KNAUFF

Director

28/08/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Locus Software Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06210075 . The registered office is 250 Fowler Avenue, Floor 2, Farnborough, Hampshire, GU14 7JP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors are of the opinion having reviewed the forecasts that the company will continue to grow and trade profitably and on this basis considers it appropriate to prepare the accounts on a going concern basis.

2.3. Turnover

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.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	3 years straight line
Fixtures & Fittings	10 years straight line
Computer Equipment	3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares

2.7. Foreign Currencies

Translations in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

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Locus Software Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 30 April 2025

2.8. Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate which it is anticipated the timing differences will reverse.

Deferred taxation assets are only recognised if recovery without replacement by equivalent debit balances is reasonably certain.

2.9. Pensions

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 other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

2.10. Operating Leases

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

2.11. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 28 (2024: 30)

4. Tangible Assets

	Total
	£
Cost
As at 1 May 2024	135,037
Additions	1,467
Disposals	(4,339 )

As at 30 April 2025	132,165

Depreciation
As at 1 May 2024	91,373
Provided during the period	16,033
Disposals	(2,931 )

As at 30 April 2025	104,475

Net Book Value
As at 30 April 2025	27,690

As at 1 May 2024	43,664

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Locus Software Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 30 April 2025

5. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	75,138	209,444

6. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	110,000	110,000
Later than one year and not later than five years	52,589	162,589

	162,589	272,589

7. Pension Commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £53,067 (2024 - £58,891). Contributions totalling £5,331 (2024 - £7,270) were payable to the fund at the reporting date and are included in Other creditors.

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2025
	£	£	£	£	£
Mr John Squire	-	9,950	-	-	9,950

The above loan is unsecured, interest free and repayable on demand.

Secured Loan

Included in creditors is a secured debt of 209,444 (2024: £343,750). This loan is secured by a debenture comprising fixed and floating charges over all property and undertakings of the company and a directors personal guarantee.

Since the year end this secured debt has been repaid in full and the fixed and floating charges and directors personal guarantee have been satisfied.

9. Post Balance Sheet Events

The entire Share Capital of the company was purchased by Navis Software UK Limited on the 30th May 2025.

10. Ultimate Controlling Party

The company's ultimate controlling party is SCES Topco LLC by virtue of his ownership of 100% of the issued share capital in the company.

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