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Registered number: 11461678 GOODCORE SOFTWARE LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 JULY 2025
GOODCORE SOFTWARE LIMITED REGISTERED NUMBER: 11461678 STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 19,577 |  | 27,107
|  |  | 19,577 |  | 27,107
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 240,587 |  | 122,279 |
Cash at bank and in hand | 6 | 124,432 |  | 84,247 |
|  | 365,019 |  | 206,526 |
Creditors: amounts falling due within one year | 7 | (360,577) |  | (296,313) |
Net current assets/(liabilities) |  |  | 4,442 |  | (89,787)
Total assets less current liabilities |  |  | 24,019 |  | (62,680)
Net assets/(liabilities) |  |  | 24,019 |  | (62,680)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Share premium account |  |  | 4,900 |  | 4,900
Profit and loss account |  |  | 19,019 |  | (67,680)
|  |  | 24,019 |  | (62,680)
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:
................................................ Yasin Altaf
Director
Date: 27 January 2026
The notes on pages 3 to 8 form part of these financial statements. Page 1
GOODCORE SOFTWARE LIMITED REGISTERED NUMBER: 11461678 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 JULY 2025 Page 2
GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
The entity is a private company limited by shares and incorporated in England & Wales. The company’s registered office and registration number are on company information page. The company’s principal activity is software development. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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. The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors have assessed the Company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements. The Company operates as an IT and software development business with a stable customer base and ongoing contracts in place. There has been no significant change in customers or trading activity since the year end. The directors have reviewed post year-end financial performance, including management accounts and cash flow forecasts, and are satisfied that the Company has adequate resources to continue its operations and meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on the going concern basis. Page 3
GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 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.
| 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. Page 4
GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Tangible fixed assets
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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 20% |
|  |  |  | Office equipment | - | 33% |
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.
| 2.8 | 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 | 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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | 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. Page 5
GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | Tangible fixed assets
|  | Motor vehicles | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 August 2024 | 31,980 | 4,860 | 36,840
| At 31 July 2025 | 31,980 | 4,860 | 36,840
| Depreciation |  |  |
| At 1 August 2024 | 7,462 | 2,271 | 9,733
| Charge for the year on owned assets | 6,396 | 1,134 | 7,530
| At 31 July 2025 | 13,858 | 3,405 | 17,263
| Net book value |  |  |
| At 31 July 2025 | 18,122 | 1,455 | 19,577
| At 31 July 2024 | 24,518 | 2,589 | 27,107
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GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 223,813 | 109,493
| Amounts owed by group undertakings | - | 6,405
| Other debtors | 1,099 | 276
| Prepayments and accrued income | 15,675 | 6,105
|  | 240,587 | 122,279
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 124,432 | 84,247
|  | 124,432 | 84,247
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 19,845 | 12,472
| Amounts owed to associates | 259,911 | 205,263
| Other taxation and social security | 70,440 | 66,507
| Other creditors | 2,126 | 2,643
| Accruals and deferred income | 8,255 | 9,428
|  | 360,577 | 296,313
8. | Related party transactions
| During the year, the Company entered into transactions with related parties. The Company incurred software development costs of £845,972 (2024: £797,061) charged by companies connected with the directors and companies under common control. At the year end, amounts due to connected companies totalled £259,911(2024: £205,263). The balance outstanding at the year end is unsecured, interest-free and repayable on demand.
Page 7
GOODCORE SOFTWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Controlling party
The company was a 100% subsidiary of Goodcore Software SDN Bhd, a company incorporated in Malaysia. The parent company’s registered office is situated at 15A, Jalan Merak 2A, Bandar Puchong Jaya, 47170 Puchong, Selangor, Malaysia. On 14 May 2025 all shares in the Company were transferred to the directors, and the Company ceased to be a member of the group. From that date the Company’s ultimate controlling parties are the directors acting together.
10. | Auditors' information
The auditors' report on the financial statements for the year ended 31 July 2025 was unqualified. The audit report was signed on 27 January 2026 by R M Asif Rafique (Senior Statutory Auditor) on behalf of Accendo Consulting Ltd.
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