Acorah Software Products - Accounts Production 19.2.450 false true true 31 December 2024 1 January 2024 false 22 June 2026 1 January 2025 31 December 2025 31 December 2025 NI635224 Mr Stuart Flood Mr Ole Weiner Ms Deirdre Dixon A Johnson & Co AB (previously called Axel Johnston Holdings B.V.), true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI635224 2024-12-31 NI635224 2025-12-31 NI635224 2025-01-01 2025-12-31 NI635224 frs-core:CurrentFinancialInstruments 2025-12-31 NI635224 frs-core:BetweenOneFiveYears 2025-12-31 NI635224 frs-core:FurnitureFittings 2025-12-31 NI635224 frs-core:FurnitureFittings 2025-01-01 2025-12-31 NI635224 frs-core:FurnitureFittings 2024-12-31 NI635224 frs-core:NetGoodwill 2025-12-31 NI635224 frs-core:NetGoodwill 2025-01-01 2025-12-31 NI635224 frs-core:NetGoodwill 2024-12-31 NI635224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-12-31 NI635224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 NI635224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 NI635224 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 NI635224 frs-core:MotorVehicles 2025-12-31 NI635224 frs-core:MotorVehicles 2025-01-01 2025-12-31 NI635224 frs-core:MotorVehicles 2024-12-31 NI635224 frs-core:WithinOneYear 2025-12-31 NI635224 frs-core:ShareCapital 2025-12-31 NI635224 frs-core:RetainedEarningsAccumulatedLosses 2025-12-31 NI635224 frs-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 NI635224 frs-bus:FilletedAccounts 2025-01-01 2025-12-31 NI635224 frs-bus:SmallEntities 2025-01-01 2025-12-31 NI635224 frs-bus:Audited 2025-01-01 2025-12-31 NI635224 frs-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 NI635224 1 2025-01-01 2025-12-31 NI635224 frs-bus:Director1 2025-01-01 2025-12-31 NI635224 frs-bus:Director2 2025-01-01 2025-12-31 NI635224 frs-bus:CompanySecretary1 2025-01-01 2025-12-31 NI635224 frs-countries:NorthernIreland 2025-01-01 2025-12-31 NI635224 2023-12-31 NI635224 2024-12-31 NI635224 2024-01-01 2024-12-31 NI635224 frs-core:CurrentFinancialInstruments 2024-12-31 NI635224 frs-core:BetweenOneFiveYears 2024-12-31 NI635224 frs-core:WithinOneYear 2024-12-31 NI635224 frs-core:ShareCapital 2024-12-31 NI635224 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31
Registered number: NI635224
Axflow (NI) Limited
Financial Statements
For The Year Ended 31 December 2025
Axflow (NI) Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—8

Page 1
Axflow (NI) Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: NI635224

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 4,375 |  | 56,875
Tangible Assets | 5 |  | 32,895 |  | 32,553
|  |  | 37,270 |  | 89,428
CURRENT ASSETS
Stocks | 6 | 392,297 |  | 522,508 |
Debtors | 7 | 453,159 |  | 569,970 |
Cash at bank and in hand |  | 368,849 |  | 50,390 |
|  | 1,214,305 |  | 1,142,868 |
Creditors: Amounts Falling Due Within One Year | 8 | (369,409 ) |  | (527,770 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 844,896 |  | 615,098
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 882,166 |  | 704,526
PROVISIONS FOR LIABILITIES
Deferred Taxation | 10 |  | (5,455 ) |  | (6,307 )
NET ASSETS |  |  | 876,711 |  | 698,219
CAPITAL AND RESERVES
Called up share capital | 11 |  | 100,001 |  | 100,001
Profit and Loss Account |  |  | 776,710 |  | 598,218
SHAREHOLDERS' FUNDS |  |  | 876,711 |  | 698,219

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.
On behalf of the board

Mr Stuart Flood Director | Mr Ole Weiner Director
22/06/2026

The notes on pages 2 to 8 form part of these financial statements.
Page 1
Page 2
Axflow (NI) Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Axflow (NI) Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI635224 . The registered office is 21-25 Mallusk Enterprise Park, Mallusk Drive, Newtownabbey, Co. Antrim, BT36 4GN. On 30 January 2026 the name of the company was changed from Flow Technology Services Ltd to Axflow (NI) Limited.
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 FRS102 "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 FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
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.
There are no critical judgements made by directors that have a significant effect on the amounts recognised in the financial statements.
2.4. Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales
taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised
when performance obligations are satisfied and the control of goods or services is transferred to the buyer.
Where the performance obligation is satisfied over time, revenue is recognised in accordance with its
progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is
adjusted for the effects of the time value of money, which is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the
goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured
reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the
costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of
completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The
stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff
rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue
is recognised only to the extent of the expenses recognised that are recoverable.
Page 2
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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.5. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Freehold | 20% straight line
Leasehold | 20% straight line
Motor Vehicles | 20% reducing balance
Fixtures & Fittings | 10% and 20% straight line

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to
apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which
case the reversal of the impairment loss is treated as a revaluation increase.
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.9. 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
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. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts 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 creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
2.10. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.11. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 4
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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.12. Cash and cash equivalents
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.
2.13. 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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.14. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 7)
7 7
4. Intangible Assets

| Goodwill
--- | ---
| £
Cost
As at 1 January 2025 | 525,000
As at 31 December 2025 | 525,000
Amortisation
As at 1 January 2025 | 468,125
Provided during the period | 52,500
As at 31 December 2025 | 520,625
Net Book Value
As at 31 December 2025 | 4,375
As at 1 January 2025 | 56,875

5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Motor Vehicles | Fixtures & Fittings | Total
| £ | £ | £ | £
Cost
As at 1 January 2025 | 35,219 | 18,650 | 41,547 | 95,416
Additions | 4,288 | - | 13,758 | 18,046
Disposals | - | - | (30,428 ) | (30,428 )
As at 31 December 2025 | 39,507 | 18,650 | 24,877 | 83,034

...CONTINUED
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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025

Depreciation
As at 1 January 2025 | 20,892 | 13,579 | 28,392 | 62,863
Provided during the period | 7,538 | 1,333 | 5,024 | 13,895
Disposals | - | - | (26,619 ) | (26,619 )
As at 31 December 2025 | 28,430 | 14,912 | 6,797 | 50,139
Net Book Value
As at 31 December 2025 | 11,077 | 3,738 | 18,080 | 32,895
As at 1 January 2025 | 14,327 | 5,071 | 13,155 | 32,553

6. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Finished goods | 387,201 |  | 522,508
Work in progress | 5,096 |  | -
| 392,297 |  | 522,508

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 439,289 |  | 453,574
Amounts owed by group undertakings | - |  | 45,897
Other debtors | 13,870 |  | 70,499
| 453,159 |  | 569,970

8. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 245,751 |  | 391,942
Bank loans and overdrafts | 2,187 |  | 4,790
Amounts owed to group undertakings | - |  | 8,634
Other creditors | 42,047 |  | 122,397
Taxation and social security | 79,424 |  | 7
| 369,409 |  | 527,770

Danske Bank hold a fixed and floating charge over any present or future property and undertakings of the company.
Amounts due to group undertakings are interest free and repayable on demand.
10. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 5,455 |  | 6,307

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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100,001 |  | 100,001

12. 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.
The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
13. Other Commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments
under non-cancellable operating leases, as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 40,166 |  | 40,299
Later than one year and not later than five years | 38,046 |  | 50,338
| 78,212 |  | 90,637

14. Post Balance Sheet Events
The company declared a dividend payable to its parent undertaking of £100,000 on 26 February 2026.
15. Related Party Transactions
During the year the company purchased goods from group companies totalling £7,970 (2024: £14,909) which are included within cost of sales. Management charges of £15,591 (2024: £14,521) were paid to the parent undertaking in respect of group management services. These transactions were conducted on an arm's length basis. At the year end no amounts remained outstanding in respect of these transactions.
16. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
17. Ultimate Controlling Party
At the balance sheet date the company's ultimate parent company was A Johnson & Co AB (previously called Axel Johnson Holdings B.V.), a company incorporated in Sweden (previously The Netherlands). The company's ultimate controlling party at the balance sheet date was Antonia Axelson Johnson. The company's immediate parent company is FIN Holdings Limited, a company incorporated in Northern Ireland. The parent of the largest group in which the results are consolidated is AxFlow Holding Aktiebolag, a company registered in Sweden.
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Axflow (NI) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
18. Audit 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 on the accounts of Axflow (NI) Limited for the year ended 31 December 2025 is unqualified and was signed 22nd June 2026. It 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 2025 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.
The auditor's report was signed by Brendan Malone (Senior Statutory Auditor) for and on behalf of Malone Accounting Ltd , Statutory Auditor.

Malone Accounting Ltd 12 Causeway Road Newcastle Co. Down BT33 0DL

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