|
Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
COMPANY INFORMATION
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
CONTENTS
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present the Strategic Report of Softelligence UK Ltd (the “Company”) for the year ended 31 December 2025. The Company prepares its financial statements in accordance with United Kingdom Accounting Standards.
The Company is a wholly owned subsidiary within the group; the immediate parent is Softelligence SRL and the ultimate controlling party is AI Altius (Luxembourg) Sarl.
The Company’s principal activity is the provision of software and related services.
Turnover for the year was £25,295,468 (2024: £19,383,928), generating a gross profit of £2,114,929 (2024: £1,895,876). Operating profit was £1,030,765 (2024: £765,754) and profit after tax was £800,502 (2024: £572,720). Turnover was principally generated in the United Kingdom (£22,132,902) with the remainder in rest of the world (£3,162,566). The Company ended the year with cash at bank and in hand of £5,577,483 (2024: £3,518,426) and net assets of £1,755,578 (2024: £955,076). The average monthly number of employees during the year was 10 (2024:10) The directors have considered the Company’s position, including the review of forecasts for at least the next 12 months, and have concluded that it is appropriate to adopt the going concern basis in preparing these financial statements.
Page 1
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors recognise that the Company operates in a challenging market environment. Continued consolidation in the UK technology services sector, combined with broader macroeconomic uncertainty, can increase volatility in customer demand, procurement cycles and pricing.
Challenging market conditions and competition Competition from national, offshore, and multinational vendors can place pressure on pricing and margin, particularly where customer budgets tighten or procurement shifts towards lower-cost delivery models. The Company’s approach is to protect delivery quality and account outcomes while remaining disciplined on cost base and subcontractor utilization. Geopolitical uncertainty The Russian invasion of Ukraine in February 2022 has disrupted global trade, as both countries are major commodity producers. The resulting supply chain disruptions contributed to increased global prices, particularly for crude oil and wheat. The Company’s operations are not directly impacted by these events, as it has no operations in either Russia or Ukraine, and no significant adverse impact on the IT services industry or on the Company’s activities has been identified to date. Middle East escalation involving Iran. Geopolitical tensions and conflicts can amplify uncertainty across markets, contributing to inflationary pressures and volatility in energy and transportation costs. In particular, during the first quarter of 2026, the armed conflict in the Middle East intensified, involving attacks between the United States, Israel, and Iran and escalations across several Gulf states, which led to immediate increases in oil, gas, and transport fuel prices. Such developments are external events with a high degree of uncertainty and may indirectly influence the Company’s cost base; at the date of approval, any impact is possible but cannot be reliably quantified, as it depends on future developments and global energy market reactions. Customer concentration and pipeline risk. A significant proportion of revenue in a services business can be generated from a limited number of customers and projects, increasing exposure to contract renewals, scope changes, delays or repricing. The Company mitigates this by maintaining close client engagement and seeking to diversify its customer base over time. Foreign currency and cost volatility. The Company undertakes transactions in foreign currencies and is exposed to exchange rate movements, with exchange differences recognized in profit or loss. In addition, broader market volatility can influence key operating cost drivers over time.
The directors use a set of KPIs to monitor performance and financial position:
KPI 2025 2024 Change Turnover £25,295k £19,384k +30.5% Gross profit £2,115k £1,896k +11.6% Gross profit ratio 8.4% 9.8% (1.4pp) Operating profit £1,031k £766k +34.6% Shareholders’ funds (net assets) £1,756k £955k +83.9% Cash at bank and in hand £5,577k £3,518k +58.5% (Note: figures are derived from the statutory financial statements for the year ended 31 December 2025.) No dividend has been paid during the year (2024: 0)
Page 2
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
There are no further key performance indicators.
This report was approved by the board and signed on its behalf.
Page 3
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £800,502 (2024 - £572,720).
No dividends were paid during the year (2024: £nil).
The directors who served during the year were:
Page 4
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors, Price Bailey LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 5
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOFTELLIGENCE UK LTD
We have audited the financial statements of Softelligence UK Ltd (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Page 6
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOFTELLIGENCE UK LTD (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
Page 7
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOFTELLIGENCE UK LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements through: • our knowledge and sector experience; and • discussions with the Directors and other management. The Company is subject to laws and regulations that directly affect the financial statements including the Companies Act 2006 and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry with the Directors and other management and inspection of regulatory and legal correspondence to identify any indication of legislative breaches. Our procedures to respond to the risk of fraud included: • proving existence of a sample of employees to ensure genuine; • reviewing staff names and bank account details on a payment run to confirm no duplications; • reviewing legal expenditure to ensure no instances of litigation; • obtaining confirmations of accounts and balances directly from the bank; • testing journals and other manual adjustments for appropriateness, by evaluating the business rationale of significant transactions; • challenging management of whether any fraud occurred throughout the period, or since the period end; and • reviewing ad-hoc expenditure is appropriately authorised in line with internal policies. We performed the procedures set out above after gaining an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, and after considering the risk of acts by the Company contrary to applicable laws and regulations including fraud. We obtained this understanding from discussions with the Directors, who did not make the engagement team aware of any non-compliance with laws and regulations throughout the year or since the year end. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Page 8
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOFTELLIGENCE UK LTD (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory auditors
Anglia House, 6 Central Avenue
St Andrews Business Park
Thorpe St Andrew
Norfolk
NR7 0HR
Page 9
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 10
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SOFTELLIGENCE UK LTD
REGISTERED NUMBER: 10614103
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 29 form part of these financial statements.
Page 11
|
|
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||