|
Registered number: 03319098
ABM INTELLIGENCE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
ABM INTELLIGENCE LIMITED
COMPANY INFORMATION
|
|
R J Sinclair (resigned 1 September 2025)
|
|
|
|
|
|
H W Bristow (appointed 1 September 2025)
|
|
|
J D Grew (appointed 1 September 2025)
|
|
|
D Speed (appointed 1 February 2026)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Castlebridge Office Village
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chartered Accountants & Statutory Auditor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABM INTELLIGENCE LIMITED
CONTENTS
|
|
|
|
|
|
|
|
|
Independent Auditors' Report
|
|
Statement of Comprehensive Income
|
|
|
|
|
Statement of Changes in Equity
|
|
Notes to the Financial Statements
|
|
|
|
ABM INTELLIGENCE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their strategic report together with the financial statements for the year ended 31 March 2026.
The prior period financial statements covered the 15-month period ended 31 March 2025, whereas the current period covers the year ended 31 March 2026. As a result, the prior period results are not directly comparable.
The principal activity of the Company is the provision of intelligence and investigation software, encompassing case management, investigation tools, evidence analysis and storage, and operational support.
Turnover for the year ended 31 March 2026 was £3,695,179 (15-month period ended 31 March 2025: £3,760,577), delivering an operating profit of £622,877 (15-month period ended 31 March 2025: £15,573). The Company continues to invest in its product suite and maintains a long-term roadmap to bring new products and functionality to market and to enhance its existing customer offering.
Financial key performance indicators
|
In addition to the turnover and operating profit reported above, the Company regards turnover growth as a percentage of turnover as a key performance indicator, alongside the financial performance set out in the Business Review. The Company's KPIs for the year ended 31 March 2026 are set out below:
Financial
- Turnover growth 23% (pro-rated 31 March 2025: 18%).
Non-financial
- Carbon Emissions intensity has been reduced by 8% year on year.
Principal risks and uncertainties
|
Cashflow risk
The Group's principal customer base is the public sector, which carries a low risk of payment default. Notwithstanding this, the Group monitors cash availability on a weekly basis and prepares a rolling 16-week cashflow forecast, which is reported to the Directors alongside monthly management accounts.
Exchange rate risk
The Group's overseas subsidiaries give rise to exposure to exchange rate fluctuations. This exposure is closely managed by the finance department as part of the weekly cash forecasting process.
Credit risk
The nature of the Group's customer base means credit risk is minimal. Outstanding debts are reviewed weekly by the finance department, and credit checks are performed on new customers outside the public sector.
Interest rate risk
The Group's external debt exposes it to the risk of rising interest rates. The Group maintains a long-range forecast that monitors debt servicing costs and models a range of interest rate scenarios.
|
|
ABM INTELLIGENCE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Principal risks and uncertainties (continued)
Inflation risk
Inflation is incorporated into the Group's long-range forecast modelling. The Group's exposure to inflation is driven predominantly by the UK economic environment, reflecting the concentration of its cost base and operations in the UK, with the principal exposures being wage inflation and the cost of IT infrastructure.
Cyber risk
The Group is exposed to the risk of adverse cyber-related events, including data breaches, ransomware attacks, IT system failures, and non-compliance with regulatory requirements in this area. The Group holds ISO27001 accreditation and applies this framework to identify, assess and manage such risks, supplemented by external advisors and tools as required. Cyber and IT risks are captured in a detailed risk register, which is reviewed and reported to the Directors on a monthly basis. The Group continues to invest in IT and cyber security, holding Cyber Essentials and Cyber Essentials Plus certifications, and requires all employees to complete training in this area upon joining and on an ongoing basis.
The Group will continue to develop its products and functionality in line with its long-term product roadmap, including further cloud capability for existing products and enhancements to product functionality. The Group's business development strategy is focused on maximising its core market opportunity, expanding the range of products and services offered to existing customers, and acquiring new customers. The Group will continue to grow its presence in Australia and Canada, and is also evaluating opportunities for expansion into the United States, identified as a key growth market, within a carefully considered investment and payback framework. Employee experience will remain an integral part of the Group's operations.
This report was approved by the board and signed on its behalf.
|
|
ABM INTELLIGENCE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their report and the financial statements for the year ended 31 March 2026.
The prior period financial statements were prepared for the 15 month period ended 31 March 2025 and the current period financial statements are for the year ended 31 March 2026. Therefore the prior period financial results are not directly comparable.
Directors' responsibilities statement
|
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
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;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙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 £561,905 (15 month period ended 31 March 2025: £90,886).
The Company paid no dividends during the year (15 month period ended 31 March 2025: £Nil).
The Directors who served during the year and to the date of signing were:
R J Sinclair (resigned 1 September 2025)
|
|
|
H W Bristow (appointed 1 September 2025)
|
J D Grew (appointed 1 September 2025)
|
D Speed (appointed 1 February 2026)
|
|
|
ABM INTELLIGENCE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Directors' indemnity provision
|
The Company has put in place qualifying third-party indemnity provisions for the benefit of its Directors. These indemnities were in force during the financial period and remained in force at the date of approval of the financial statements.
The Directors have prepared a going concern assessment based on cashflow forecasts prepared for the Group, of which the Company is a part, which gives the directors reasonable confidence that the group and the Company will have adequate resources to meet operating liabilities as they fall due for the foreseeable future.
The directors of the Company have obtained a letter of support from the ultimate parent, Multiverse Topco Limited, which confirms that the ultimate parent will provide financial support to the Company for a period of at least 12 months from the approval of these financial statements, to enable the Company to meet its liabilities as they fall due.
On the basis of the group's assessment and support, the directors have adopted the going concern basis of accounting in preparing the annual financial Statements.
During the year, the Company continued its investment in research and development, working with group companies on three core projects: a common technology platform integrating its investigation, covert operations and critical incident management applications; automated methods for gathering and preserving electronic communications data to evidential standard; and the application of artificial intelligence to interpret and summarise critical incident data in real time. This work remains ongoing.
Economic impacts of global events
|
UK businesses continue to face macroeconomic uncertainty, including the ongoing impact of the Russian invasion of Ukraine, the conflict between Israel and Iran, and shifts in US trade tariffs. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, interest rate movements, labour shortages, disrupted supply chains and new ways of working.
The Directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that these are non-adjusting events. The conflict in Iran has had no direct impact on the Company's operations or financial position. The greatest impact on the business continues to be expected from the economic ripple effect on the global economy, rather than any single event, and the Directors have taken account of these potential impacts in their going concern assessment.
The Company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.
Disclosure of information to auditors
|
Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware; and
∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
|
|
ABM INTELLIGENCE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The auditors, Forvis Mazars 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.
|
|
ABM INTELLIGENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABM INTELLIGENCE LIMITED
Opinion
We have audited the financial statements of ABM Intelligence Limited (the ‘Company’) for the year ended 31 March 2026 which comprise the Statement of Comprehensive Income, the Balance Sheet, 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
∙give a true and fair view of the state of the Company’s affairs as at 31 March 2026 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.
Basis for opinion
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 Auditor’s 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 UK, including the FRC’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.
Conclusions relating to going concern
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.
Other information
The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s 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.
|
|
ABM INTELLIGENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABM INTELLIGENCE LIMITED
Other information (continued)
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.
Opinions on other matters prescribed by the Companies Act 2006
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 period 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.
Matters on which we are required to report by exception
In 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.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors intend either to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
|
|
ABM INTELLIGENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABM INTELLIGENCE LIMITED
Auditor's responsibilities for the audit of the financial statements
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 auditor’s 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
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.
Based on our understanding of the Company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect of non-compliance, our procedures included, but were not limited to:
∙Inquiring of management and, where appropriate, those charged with governance, as to whether the Company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
∙Considering the risk of acts by the Company which were contrary to applicable laws and regulations, including fraud.
We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006.
In addition, we evaluated the Directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgments and assumptions in significant accounting estimates, in particular in relation to the impairment of intangibles and intangible development costs capitalised, revenue recognition (which we pinpointed to the cut-off assertion), and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:
∙Making enquiries of the Directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
∙Gaining an understanding of the internal controls established to mitigate risks related to fraud;
∙Discussing amongst the engagement team the risks of fraud; and
∙Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
|
|
ABM INTELLIGENCE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ABM INTELLIGENCE LIMITED
Auditor's responsibilities for the audit of the financial statements (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 auditor’s report.
Use of the audit 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 auditor's 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.
Elisa Howe (Senior Statutory Auditor)
for and on behalf of Forvis Mazars LLP
Chartered Accountants and Statutory Auditor
Second Floor
Three Chamberlain Square
Birmingham
B3 3AX
1 October 2026
|
|
ABM INTELLIGENCE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exceptional administrative expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the financial year/period
|
|
|
|
There was no other comprehensive income for the year ended 31 March 2026 (15 month period ended 31 March 2025: £Nil).
|
The notes on pages 13 to 30 form part of these financial statements.
|
|
|
ABM INTELLIGENCE LIMITED
REGISTERED NUMBER: 03319098
BALANCE SHEET
AS AT 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 30 form part of these financial statements.
|
|
ABM INTELLIGENCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
At 1 January 2024 (restated)
|
|
|
|
Comprehensive income for the 15 month period
|
|
|
|
Profit for the 15 month period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 13 to 30 form part of these financial statements.
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
ABM Intelligence Limited is a private company limited by shares incorporated in England and Wales, registered number 03319098. The registered office is 12 Castlebridge Office Village, Kirtley Drive, Nottingham, Nottinghamshire, NG7 1LD, England.
The financial statements are presented in pound sterling which is the functional currency of the Company. Monetary amounts are rounded to the nearest £.
2.Accounting policies
|
|
|
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 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:
|
|
|
Financial Reporting Standard 102 - reduced disclosure exemptions
|
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Multiverse (Topco) Limited as at 31 March 2026 and these financial statements may be obtained from Companies House.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
The Directors have prepared a going concern assessment based on cashflow forecasts prepared for the Group, of which the Company is a part, which gives the directors reasonable confidence that the group and the Company will have adequate resources to meet operating liabilities as they fall due for the foreseeable future.
The directors of the Company have obtained a letter of support from the ultimate parent, Multiverse Topco Limited, which confirms that the ultimate parent will provide financial support to the Company for a period of at least 12 months from the approval of these financial statements, to enable the Company to meet its liabilities as they fall due.
On the basis of the group's assessment and support, the directors have adopted the going concern basis of accounting in preparing the annual financial Statements.
|
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is GBP. Monetary amounts are rounded to the nearest £.
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 the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
All foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Revenue represents the fair value of consideration received or receivable for services provided in the normal course of business, excluding VAT and trade discounts.
Revenue is recognised when it is probable that economic benefits will flow to the entity and the amount can be measured reliably. The Company applies the following principles:
• Professional Services and Training
Revenue from professional services and training contracts is recognised based on the stage of completion of the project at the reporting date. This reflects the transfer of services to the customer as work progresses, rather than at the point of invoicing.
• Measurement of Stage of Completion
Stage of completion is determined by reference to contract milestones or percentage of completion based on actual progress against agreed deliverables. The Company uses project tracking systems to monitor milestones and completion percentages. Revenue is recognised when each milestone is achieved and verified by project management.
• Deferred Income
Amounts invoiced in advance of milestone completion are recorded as deferred income within current liabilities until the related performance obligation is satisfied.
• Training Services
Revenue from training is recognised as sessions are delivered. Where training is sold as a package, revenue is apportioned based on the number of sessions completed at the reporting date.
|
|
|
Operating leases: the Company as lessee
|
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if enhancement activity criteria is met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives of 3 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
|
|
|
Current and deferred taxation
|
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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.
The estimated useful lives range as follows:
|
|
|
|
|
Development costs capitalised
|
|
|
|
|
|
|
|
|
Other intangible fixed assets
|
|
|
|
Amortisation begins once the asset is available for use.
Further details on the intangible development costs capitalised can be found in Note 3.
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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plant, machinery and fixtures
|
|
|
|
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 the Statement of Comprehensive Income.
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.
Where balances are interest-free and repayable on demand, they are not considered financing transactions and are therefore carried at cost.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
|
|
|
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.
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.
Where balances are interest-free and repayable on demand, they are not considered financing transactions and are therefore carried at cost.
|
|
|
Provisions for liabilities
|
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
Increases in provisions are generally charged as an expense to the Statement of Comprehensive Income.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Other financial assets
Other financial assets, which include investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the Statement of Comprehensive Income. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the Statement of Comprehensive Income. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
|
|
Judgements in applying accounting policies and key sources of estimation uncertainty
|
In the application of the Company's accounting policies, the Directors are required to make 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.
Impairment of intangible and tangible fixed assets
Assets are reviewed for impairment at each reporting date to assess whether any current or future events and circumstances suggest that their recoverable amount may be less than the carrying value. The recoverable amount is the higher of fair value less costs to sell and the value in use. The accuracy of any such impairment calculation will be affected by unexpected changes to the economic situation, and assumptions which differ from actual outcomes. In assessing value in use, the estimated future negative cash flows of intangible and tangible fixed assets would be a trigger for impairment. The board has reviewed the recoverability of the intangible fixed assets and has determined that impairment is not required.
Intangible development costs capitalised
In order to estimate the intangible development cost to be capitalised, the starting point is how product enhancements are scoped and designed in detail; within this, specific product functionality enhancements are managed with the Company's internal product management systems. Teams are assigned the specified work items to address, and each individual's effort is visible. Tasks are managed such that they are reviewed for completion and quality, before being signed off as complete. In order to estimate each individual's contribution their total hours are analysed to take account of non-capitalisable time such as annual leave, training and administration; the remaining productive time is then compared to their output on product enhancements and the split of their time between tasks is estimated on a percentage basis, noting that not all time spent is on enhancement activity (as some would be spent on remedial activities also). The overall analysis by individual is reviewed for reasonableness and consistency across the Technology team. The valuation of the time spent is done by using each individual's cost rate (i.e. remuneration and employment taxes) to value their output in detail.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
All turnover is from the one class of business:
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All turnover arose within the United Kingdom.
|
|
|
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The operating profit is stated after charging:
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation of tangible fixed assets
|
|
|
|
|
Amortisation of intangible fixed assets
|
|
|
|
|
|
|
|
|
|
Other operating lease rentals
|
|
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
During the year, the Company obtained the following services from the Company's auditors:
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fees payable to the Company's auditors for the audit of the Company's financial statements
|
|
|
|
|
The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the Parent Company.
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
Staff costs, including Directors' remuneration, were as follows:
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of defined contribution scheme
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The average monthly number of employees, including the Directors, during the year was as follows:
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company contributions to defined contribution pension schemes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the year retirement benefits were accruing to 5 Directors (2025: 3) in respect of defined contribution pension schemes.
|
|
|
The highest paid Director received remuneration of £181,297 (2025: £257,943).
|
|
|
The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £8,251 (2025: £8,230).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current tax on profits for the year
|
|
|
|
|
Adjustments in respect of previous periods
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origination and reversal of timing differences
|
|
|
|
|
|
|
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
10.Taxation (continued)
|
|
Factors affecting tax charge for the year/period
|
|
|
The tax assessed for the year/15 month period is lower than (15 month period ended 31 March 2025 - lower than) the standard rate of corporation tax in the UK of25% (15 month period ended 31 March 2025:25%). The differences are explained below:
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit on ordinary activities before tax
|
|
|
|
|
Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (15 month period ended 31 March 2025: 25%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
|
|
|
|
|
|
|
|
|
|
Adjustments to tax charge in respect of prior periods
|
|
|
|
|
Adjustments to tax charge in respect of prior periods - deferred tax
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other differences leading to an increase (decrease) in the tax charge
|
|
|
|
|
|
|
|
|
|
Total tax charge/(credit) for the year/period
|
|
|
|
|
Factors that may affect future tax charges
|
There were no factors that may affect future tax charges.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
15 month period ended
31 March
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The exceptional items of £1,334,062 in the prior year relate to one-off employee bonus payments triggered upon completion of the sale transaction with Multiverse, together with associated directly attributable costs.
|
|
|
Development costs capitalised
|
|
Intangible assets under development
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
Plant, machinery and fixtures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
Corporation tax recoverable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings are unsecured, interest-free and repayable on demand.
|
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
Charged to the Statement of Comprehensive Income
|
|
|
|
|
|
|
The provision for deferred taxation is made up as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accelerated capital allowances
|
|
|
|
|
Short term timing differences
|
|
|
|
|
Losses and other deductions
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
2 (2025: 2) Ordinary A shares of £1.00 each
|
|
|
|
|
The ordinary shares include full rights to voting, dividends and the entitlement to participate on a return of capital. The shares are non-redeemable.
|
Profit and loss account
The profit and loss account represents reserves that have accumulated through the normal course of trade.
The Company operates a defined contribution pension scheme. The pension cost charge represents the contributions payable by the Company to the fund and amounted to £221,864 (15 month period ended 31 March 2025: £167,005). Contributions totalling £45,517 (2025: £43,046) were payable to the fund at the balance sheet date and are included in creditors.
|
|
ABM INTELLIGENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
|
|
Commitments under operating leases
|
|
|
At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
|
|
|
|
|
|
Outstanding charges and security interests
|
The Company has granted fixed and floating charges in favour of Santander UK plc, as security trustee for the secured parties, in connection with the Group's financing arrangements. The security includes a charge over substantially all of the Company's assets and undertaking, including its investment in subsidiary undertakings.
|
|
Related party transactions
|
|
|
The Company has taken advantage of the 33.1A exemption available in FRS 102 whereby it has not disclosed transactions with wholly owned undertakings of the group.
|
The immediate parent Company is Altia Solutions Limited, a company incorporated in Scotland. The ultimate parent Company and the smallest and largest group in which the results are consolidated is Multiverse (Topco) Limited as at 31 March 2026. The registered office of Multiverse (Topco) Limited is 12 Kirtley Drive, Nottingham, England, NG7 1LD. The accounts of Multiverse (Topco) Limited can be obtained from the Registrar of Companies, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is Bowmark Capital LLP. The registered office of Bowmark Capital LLP is One, Eagle Place, London, SW1Y 6AF. The accounts of Bowmark Capital LLP can be obtained from the registrar of Companies, Crown Way, Cardiff, CF14 3UZ.
|
|
|