KRM22 PLC

• ⚠

  Material uncertainty over going concern

  The Directors have concluded that the circumstances set forth above indicates the existence of a material uncertainty that may cast significant doubt on KRM22's ability to continue as a going concern. However, given KRM22's forecast, visible sales pipeline, working capital needs and continued support and open dialogue with TT, the Directors have considered it appropriate to prepare the financial statements on a going concern basis and the financial statements do not include the adjustments that would be required if KRM22 were unable to continue as a going concern.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

UK Adopted international accounting standards

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors have concluded that the circumstances set forth above indicates the existence of a material uncertainty that may cast significant doubt on KRM22's ability to continue as a going concern. However, given KRM22's forecast, visible sales pipeline, working capital needs and continued support and open dialogue with TT, the Directors have considered it appropriate to prepare the financial statements on a going concern basis and the financial statements do not include the adjustments that would be required if KRM22 were unable to continue as a going concern.”

Group structure

1. KRM22 PLC · parent
   1. KRM22 Central Limited 100% · UK · Administrative and sales company
   2. KRM22 Development Limited 100% · UK · Development services
   3. KRM22 Americas Inc. 100% · USA · Administrative and sales company
   4. KRM22 ProOpticus LLC 100% · USA · Administrative and sales company
   5. KRM22 Netherlands B.V. 100% · Netherlands · Non-trading intermediate holding company
   6. KRM22 Market Surveillance Limited 100% · UK · In liquidation
   7. Object+ Holding B.V. 100% · Netherlands · Non-trading intermediate holding company
   8. Object+ B.V. 100% · Netherlands · Non-trading intermediate holding company
   9. Object+ Financial Services B.V. 100% · Netherlands · Administrative company
   10. Object+ Financial Products B.V. 100% · Netherlands · Sales company
   11. Object+ Americas LLC 100% · USA · Sales company

Significant events

• “Annualised Recurring Revenue (ARR) as at 31 December 2024 of £6.6m (2024: £5.4m) - growth of 22.2%.”
• “Adjusted EBITDA profit of £1.0m (2023: loss of £1.4m) a maiden reported adjusted EBITDA profit since the Company's inception.”
• “Launch of Risk Manager application, with first sales and ARR generated from this application.”
• “Group restructure and rationalisation to implement a focused cost savings programme, with annual cost savings of £1.2m delivered.”
• “Board changes with the appointment of Dan Carter as CEO and Garry Jones as Non-Executive Chairman, replacing Stephen Casner and Keith Todd respectively, with Keith Todd remaining on the Board as Executive Director.”
• “Growth in contractual ARR to £7.4m as at the date of this report at current FX rates.”
• “Amendments to the Convertible Loan with Trading Technologies International, Inc ("TT") to defer all interest payments until June 2026.”

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

Filings

9

last 12 months

Capital events

7

last 24 months

Officers appointed

1

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.

• Turnover

  +28.5%

  £5,266,000 → £6,769,000

• Cash

  +16.8%

  £886,000 → £1,035,000

• Net assets

  -102.9%

  -£1,101,000 → -£2,234,000

• Employees

  -8%

  50 → 46

• Operating profit

  +80.6%

  -£4,525,000 → -£880,000

• Profit before tax

  +70.7%

  -£4,878,000 → -£1,427,000

• Wages

  -12.4%

  £3,802,000 → £3,329,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers