BRIDGEHEAD SOFTWARE LIMITED

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Menzies LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After careful assessment, the Directors have adopted the going concern basis in preparing these financial statements. The process and key judgments in coming to this conclusion are set out below. For the purposes of the going concern assessment, the Directors have prepared monthly cash flow projections for the period to 30 September 2027 (the assessment period). The Directors consider this to be a reasonable period for the going concern assessment as it enables us to consider the potential impact of projected planning assumptions over an extended period. The cash flow projections show that the Group has significant headroom against its obligations. The Directors have also performed a downside analysis, with the key input being the assumption of no new license revenue for a period of time and relevant mitigating actions such as cost containment. The results show that the group and company continue to be reliant on future revenue. The Directors are confident that the going concern basis of preparation is appropriate given the combination of an expectation of sufficient cash inflows from recurring maintenance and SaaS contracts continuing, together with an ability to temporarily reduce their cost base to a de-minimus if required, however the need for this is considered unlikely.”

Group structure

1. BRIDGEHEAD SOFTWARE LIMITED · parent
   1. BridgeHead Software, Inc. 100% · USA · Computer software development and sales
   2. BridgeHead Systems Limited 100% · England & Wales · Computer software development (dormant)

Significant events

• “During the first half of 2023/24, the group continued to experience some challenging market conditions, which improved towards the financial year end. The result of this was that net customer order bookings increased by 9% from £5.9m to £6.4m.”
• “The continuing improvement in the value of Sterling against the US Dollar during the year caused a further £0.4m decrease in the consolidation exchange reserve deficit, which contributed to improving the group's shareholders' funds deficit by £0.3m, from £4.1m in 2023, to £3.8m.”
• “The group... continued to acquire several new long-term customer contracts during the year, which will enhance revenue in future years.”
• “Furthermore, the group has very limited exposure to the costs of energy, having reduced its reliance on office accommodation during the previous year, with plans to reduce this further in 2024/25.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.