API SOFTWARE LIMITED

1. API SOFTWARE LIMITED 1995-11-16 → present
2. OASYS TECHNOLOGY LIMITED 1995-03-01 → 1995-11-16
3. CORRIE COMPUTING LIMITED 1994-12-15 → 1995-03-01

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

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. The current year results show a loss for the financial year of £1.3 million (2024 - £2.8 million loss) and a net current liabilities position of £2.3 million as at 31 January 2025 (2024 - £0.5 million net current assets). The directors have confidence that the group and parent company have sufficient cash reserves and forecasted resources to continue to trade for at least 12 months from the date of the authorisation of these financial statements. In making this assessment, the directors have prepared detailed cash flow projections through to January 2027. The group and parent company expect to continue with positive cash generation and to return to sustainable profitability in the financial year to 31 January 2026. Furthermore, a four-year £3 million loan facility was obtained in July 2023, which further strengthened the group and parent company's cash position. To date, the group has drawn down £2m of the facility and does not expect to utilise the remaining £1m of the facility. Based on the above factors, the directors are satisfied that it remains appropriate for the group and parent company to prepare their financial statements on a going concern basis. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. API SOFTWARE LIMITED · parent
   1. API Software Inc 100% · United States of America

Significant events

• “The group opened a new office in North America during the year, to support its growing US customer base.”
• “the group has recently launched AutoRek Mion, its groundbreaking data management and reconciliation platform specifically designed to handle cryptocurrency and digital asset operations by processing up to 20 cigits before and 18 after the decimal point to deliver accuracy and scale for our customers.”
• “The group agreed a new 4-year Financing Facility for £3m in July 2023, to support the above investments as required. To date, the group has drawn down £2m of the facility and does not expect to utilise the remaining £1m of the facility as it will have sufficient cash reserves to reach profitability and positive cash generation as outlined above.”

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

12

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.

• Turnover

  —

  Not reported

• Cash

  +121.5%

  £1,833,326 → £4,060,403

  highest in 3 filed years

• Net assets

  -33.3%

  -£3,045,418 → -£4,058,728

  lowest in 3 filed years

• Employees

  +3.9%

  155 → 161

  highest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers