|
Registered number:
For the Year Ended
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Company Information
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Contents
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Strategic Report
For the Year Ended 31 December 2025
This strategic report provides a concise overview of the financial performance and position of mkodo Limited for the fiscal year ended 31 December 2025.
2025 was a transitional year for mkodo Limited, marked by strategic realignment, targeted investment, and purposeful evolution across our product and service portfolio. While the business navigated shifts in client demand and industry change, the year reinforced our long-term direction and strengthened the foundations for sustainable future growth.
Throughout 2025, mkodo continued to deliver high quality digital products and services, further solidifying our reputation as a trusted partner in the Betting, Gaming and Digital Experience sectors.
A defining milestone this year was our expansion into the South American market, where GeoLocs (our location compliance platform) processed almost a billion transactions and continued to strengthen its position. As GeoLocs evolved into a core strategic pillar, its scaling accelerated, driving broader market adoption across multiple regions and reinforcing our recurring revenue base and providing a foundation for strong growth. Although one major client streamlined their service requirements, resulting in a short-term revenue impact, this transition enabled us to redirect resources toward higher-growth opportunities, particularly those aligned with our long-term strategic roadmap. In 2025, the Executive team focused on enhancing operational efficiency while accelerating investments in areas critical to our future positioning. We also advanced our product and service offerings, enabling deeper client engagement and supporting expansion into emerging markets. Despite the challenges associated with this transitional year, mkodo maintained strong client retention, delivered multiple flagship app projects, and continued to demonstrate reliability and delivery excellence. Key Highlights 2025 was defined by positive strategic progress in this transitional environment:
∙Accelerated expansion of GeoLocs, with growing adoption and increasing recurring revenue streams from this standout product.
∙Delivery of multiple flagship apps, maintaining mkodo’s high standards for usability and performance.
∙Continued investment in innovation across location verification, user experience, and self-service lottery ticket retail solution.
∙Improved operational scalability, supported by new tooling, maturing processes, and stronger information security frameworks.
∙Investment in people remained a priority, with the company’s transition enabling a sharper focus on talent development and capability growth aligned to our future strategy.
These achievements demonstrate mkodo’s strength and progress during a year of transition.
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Strategic Report (continued)
For the Year Ended 31 December 2025
Financial Performance
2025 reflected both the challenges and opportunities of a transitional year. While revenues were impacted by a long-time client reducing their service scope, mkodo continued to deliver disciplined execution and strong underlying performance.
∙Total revenues reached £14.0m (2024: £14.0m).
∙Gross profit margin declined modestly, reflecting higher staff pension costs following an increase in company-wide contribution rates and the allocation of delivery resources to capitalised strategic projects intended to support future revenue and margin growth.
∙Operating expenses increased in line with our strategic growth plans, including increased investments in marketing and other related expenditures. Professional services spending rose during the year, driven by the support required to implement the company’s strategy.
∙Net profit closed at £1.0m (2024: £2.1m) reflecting disciplined management during a year of transition.
The company retains a healthy financial position, with a solid asset base and controlled liabilities, providing stability and capacity for continued investment.
mkodo operates in a dynamic technology and regulatory landscape that requires constant adaptation. During this transitional year, risk management remained a core focus.
Commercial risk - With the Betting and Gaming industry shaped by regulatory changes and shifting political contexts, mkodo maintained strong oversight to anticipate and respond to evolving client needs. Technology & Market risk - Rapid innovation, particularly in AI, data privacy, and digital distribution, continued to drive the need for investment. Our product and service roadmap advanced accordingly. Liquidity risk - Prudent liquidity management ensured that the company remained able to meet obligations while supporting group cash flow. Compliance risk - Following successful ISO27001 accreditation, mkodo strengthened governance and internal processes throughout 2025 to maintain alignment with best practices. We also initiated the process to obtain SOC II certification, particularly to support our growth in North America, which we intend to complete in 2026. To date this process is on-track and meeting the company's expectations. Currency risk - Currency exposure continues to be managed in line with Group policies and supported by our financial services provider.
2025 2024
Turnover £14,030,857 £14,039,869 Profit before tax £1,341,618 £2,640,846
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Strategic Report (continued)
For the Year Ended 31 December 2025
2025 2024
Employee numbers 117 109 Conclusion 2025 was a significant year of transition for mkodo - one that required adaptation, strategic focus, and thoughtful investment. Although the year included changes in client demand, it also enabled us to strengthen our strategic position, elevate GeoLocs, enhance operational maturity, and refocus on the areas with the highest potential for long-term value creation. With a clearer strategic direction, a strengthened technology foundation, and a committed and talented team, mkodo enters 2026 well-positioned to capture new opportunities and deliver sustainable growth for clients, partners, and shareholders.
This report was approved by the board and signed on its behalf.
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
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 who served during the year were:
The profit for the year, after taxation, amounted to £955,916 (2024 - £2,130,039).
The directors do not recommend payment of a final dividend.
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 judgements 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.
Key objectives for the upcoming year include entering new markets with our best-in-market product offerings, working in partnership with our clients to achieve the highest levels of client satisfaction and continually innovating our product offerings and business processes.
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Directors' Report (continued)
For the Year Ended 31 December 2025
The directors have chosen to set out the disclosures relating to financial risk objectives & policies and information on exposure to liquidity risk and cash flow risk in the strategic report.
There have been no significant events affecting the Company since the year end.
The auditors, Hurst Accountants Limited, 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
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Independent Auditors' Report to the Members of mkodo Limited
We have audited the financial statements of mkodo Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes, 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).
We conducted our audit in accordance with International Standards 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.
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.
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.
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Independent Auditors' Report to the Members of mkodo Limited (continued)
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.
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:
Page 7
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Independent Auditors' Report to the Members of mkodo Limited (continued)
Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations.
°Detecting and responding to the risks of fraud.
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory framework in which the company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, anti-bribery and corruption legislation, and Gambling Commission regulations.
Audit response to risk identified
Our procedures to respond to the risk identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
∙Evaluation of the operating effectiveness of management's controls designed to prevent and detect irregularities.
∙Enquiring of management about any actual and potential litigation and claims.
∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
We have also considered the risk of fraud through management override of controls by:
∙Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Independent Auditors' Report to the Members of mkodo Limited (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
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG
Page 9
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Statement of Income and Retained Earnings
For the Year Ended 31 December 2025
Page 10
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Registered number: 03991840
Statement of Financial Position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 26 form part of these financial statements.
Page 11
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
mkodo Limited is a private company limited by members capital incorporated in England and Wales. The registered office and principal place of business is Third Floor, 2 Throgmorton Avenue, London, EC2N 2DG.
The nature of the company's operation and its principal activity is the creation of customised user experiences and best-in-class apps and websites exclusively for sportsbook, casino and lottery operators.
2.Accounting policies
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 Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirement of Section 7 Statement of Cash Flows
∙the requirement of Section 3 Financial Statement Presentation paragraph 3.17 (d)
∙the requirement of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments
∙the requirement of Section 33 Related Party Disclosures paragraph 33.7
This information is included in the consolidated financial statements of Pollard Banknote Limited as at 31 December 2025 and these financial statements may be obtained from its website, www.pollardbanknote.com.
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The company generated a profit after tax of £955,916 (2024: £2,130,039) for the year ended 31 December 2025. At the balance sheet date the company had net assets of £8,074,341 (2024: £7,118,425) including cash at bank of £215,977 (2024: £88,934).
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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 12
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Long term contract income is recognised in line with progress on the project or where relating to a quantifiable service a proportion of the income is recognised based on the amount of that service provided during the period. The amount by which revenue exceeds payments on account is classified as accrued income and included in debtors; to the extent that payments on account exceed relevant revenue and work in progress balances, the excess is included as deferred income. Where a long term contract is anticipated to make a foreseeable loss the loss is recognised in full during the period and is included as a provision.
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Page 14
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
During the year, the amortisation policy was revised from 33% to 20% for new assets capitalised.
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:
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.
Page 15
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Accrued income Revenue from the design and development contracts is assessed on an individual basis with revenue earned being ascertained based on time spent to date. The revenue earned in excess of the revenue billed is recognised as accrued income. The time costs incurred on a particular contract are assessed regularly and subject to management review, who make an estimate of the recoverable value of the contract. Loss-making contracts The performance on the design and development contracts is assessed regularly by the management, who assess the overall future expected income and costs. Where a contract is expected to be loss making the management will provide for the future expected loss in full at the reporting date. Amortisation of intangible fixed assets Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives once the asset comes in to economic use, as ascertained by management.
Page 16
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Analysis of turnover by country of destination:
Page 17
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 18
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 19
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
Page 20
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 21
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 22
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 23
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 24
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Share premium account
Capital redemption reserve
Profit and loss account
The Company operates a defined contributions 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 £518,064 (2024: £239,598). Contributions totalling £nil (2024: £55,875) were payable to the fund at the reporting date and are included in creditors.
Page 25
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
mkodo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
The Company is a subsidiary undertaking of Pollard Banknote Limited which is also the ultimate controlling party.
The group in which they are consolidated is that headed by Pollard Banknote Limited whose registered office address is 140 Otter Street, Winnipeg, Manitoba, Canada, R3T 0M8.
Page 26
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||