REGISTERED NUMBER: 06432271 (England and Wales)

Financial Statements for the Year Ended 30 June 2025

for

SB Software Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

56,100

-

Tangible assets

5

52,143

136,196

108,243

136,196

CURRENT ASSETS

Stocks

26,628

48,211

Debtors

6

211,662

189,095

Cash at bank and in hand

439,494

89,933

677,784

327,239

CREDITORS

Amounts falling due within one year

7

435,450

250,260

NET CURRENT ASSETS

242,334

76,979

TOTAL ASSETS LESS CURRENT LIABILITIES

350,577

213,175

CREDITORS

Amounts falling due after more than one year

8

-

(13,952

)

PROVISIONS FOR LIABILITIES

(27,061

)

(9,889

)

NET ASSETS

323,516

189,334

CAPITAL AND RESERVES

Called up share capital

1

1

Capital redemption reserve

100,000

100,000

Retained earnings

223,515

89,333

323,516

189,334

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2026 and were signed by:

S M Stewart - Director

1.	STATUTORY INFORMATION

SB Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06432271

Registered office:

40 Little London Road

Sheffield

South Yorkshire

S8 0UH

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Plant and machinery: 25% on reducing balance & 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Cash

Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term highly liquid investments with original maturities of three months or less.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured at the present value of the cash flows receivable, discounted at a market rate of interest.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are initially measured at net proceeds and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

56,100

At 30 June 2025

56,100

NET BOOK VALUE

At 30 June 2025

56,100

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2024

96,640

219,139

315,779

Additions

-

28,096

28,096

Disposals

(96,640

)

-

(96,640

)

At 30 June 2025

-

247,235

247,235

DEPRECIATION

At 1 July 2024

-

179,583

179,583

Charge for year

-

15,509

15,509

At 30 June 2025

-

195,092

195,092

NET BOOK VALUE

At 30 June 2025

-

52,143

52,143

At 30 June 2024

96,640

39,556

136,196

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

165,637

156,314

Other debtors

46,025

32,781

211,662

189,095

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,805

64,518

Amounts owed to group undertakings

206,308

-

Taxation and social security

166,050

162,506

Other creditors

45,287

23,236

435,450

250,260

Included in other creditors is £4,740 (2024: £4,155) in respect of pension contributions payable to a defined contribution pension scheme.

Also included in other creditors is bank loans amounts due within one year (2024: £10,161) and all repaid within the period ended 30 June 2025.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

13,952

Bank loans includes a Coronavirus Business Interruption Loan (CBILs), which was drawn down in October 2020. Repayments commenced in November 2021 in equal instalments over 5 years. The Company repaid the remaining balance in full in July 2024.

9.	LEASING AGREEMENTS

Operating lease commitments

Property lease - 2nd Floor, 40 London Road, Sheffield, S8 0UH

10 year terms - Ends 31/05/2029

Months remaining - 47 months

30.06.2025

30.06.2024

£

£

Within 1 Year

48,100

48,100

1-2 Years

48,100

48,100

2-5 Years

92,193

140,293

188,393

236,493

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

The Auditors' Report was qualified on the following basis:

Basis for Qualified opinion

We were appointed as auditors of the Company at the end of 2025 and thus did not observe the counting of the physical inventories at the beginning or end of the year. We were unable to satisfy ourselves by alternative means concerning stock quantities held at 30 June 2024, and thus the reporting carrying value of £48,211. Since opening stock enters into the determination of the financial performance, we were unable to determine whether adjustments might have been necessary in respect of the profit for the year reported in the Statement of Retained Income and Earnings.

We conducted our audit in accordance with International Standard on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Kathryn Hebden FCA (Senior Statutory Auditor)

for and on behalf of SMH Group Audit

11.	RELATED PARTY DISCLOSURES

The Company has taken advantage of the exemptions contained within FRS 102 paragraph 33.1A not to disclose transactions with group undertakings where 100% of the voting rights are controlled within the group and consolidated group accounts are prepared.

12.	POST BALANCE SHEET EVENTS

On 5 September 2024, the company was acquired by Cantaloupe Inc. Since that date, the company has operated as a subsidiary within the Cantaloupe group, continuing its core development and consultancy activities

Subsequent to the year-end, a transaction was initiated for the acquisition of the ultimate parent company, Cantaloupe Inc. This event triggered the full vesting and accelerated settlement of certain employee share options.

This obligation will be settled in cash via payroll following the completion of the parent-level acquisition.

The total liability of $462,470, equivalent to £342,422 (converted at the spot rate on 5 September 2025) comprising of:

- Vested options: $150,594 (based on a Fair Market Value of $10.81)

- Accelerated unvested options: $311,976 (based on a Fair Market Value of $11.20)