KX SOFTWARE LIMITED
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Cash
£55M
+164.9% vs 2024
Net assets
£191M
+30.1% vs 2024
Employees
314
+11.7% vs 2024
Profit before tax
-£29M
-43.1% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
6 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-02-28
| Metric | Trend | 2024-02-29 | 2025-02-28 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £79,146,000 | £80,729,000 | +2% | |
| Operating profit | -£15,640,000 | -£23,368,000 | -49.4% | |
| Profit before tax | -£20,336,000 | -£29,110,000 | -43.1% | |
| Net profit | -£21,039,000 | -£26,426,000 | -25.6% | |
| Cash | £20,787,000 | £55,062,000 | +164.9% | |
| Total assets less current liabilities | £207,130,000 | £221,143,000 | +6.8% | |
| Net assets | £146,984,000 | £191,266,000 | +30.1% | |
| Equity | £146,984,000 | £191,266,000 | +30.1% | |
| Average employees | 281 | 314 | +11.7% | |
| Wages | £66,270,000 | £65,876,000 | -0.6% | |
| Directors' remuneration | £2,372,000 | £2,489,000 | +4.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-02-29 | 2025-02-28 |
|---|---|---|---|
| Operating margin | -19.8% | -28.9% | |
| Net margin | -26.6% | -32.7% | |
| Return on capital employed | -7.6% | -10.6% | |
| Gearing (liabilities / total assets) | 52.0% | 35.2% | |
| Current ratio | 0.75x | 1.36x | |
| Interest cover | -4.33x | -5.37x |
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.
Name history
Renamed 4 times since incorporation — the current trading name was adopted 2025-10-08
- KX SOFTWARE LIMITED 2025-10-08 → present
- FD TECHNOLOGIES LIMITED 2025-07-31 → 2025-10-08
- FD TECHNOLOGIES PUBLIC LIMITED COMPANY 2021-07-08 → 2025-07-31
- FIRST DERIVATIVES PUBLIC LIMITED COMPANY 2002-02-11 → 2021-07-08
- FIRST DERIVATIVES LIMITED 1996-04-16 → 2002-02-11
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte (NI) Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors believe that the Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis of accounting in preparing the financial statements. The Directors are satisfied that the Group can meet its foreseeable working capital requirements through the existing bank facilities and cash generation from operating activities and projections indicate that the Group will be able to meet all obligations as they fall due with sufficient headroom for the foreseeable future. On 8 May 2025, the Board unanimously recommended TA's cash offer for the business, which values FD Technologies at £24.50 per share or £570 million. The offer is conditional on obtaining 90% of the votes cast. This is a material uncertainty related to going concern.”
Group structure
- KX SOFTWARE LIMITED · parent
- KX Systems Limited 100%
- KX Systems Ireland Limited 100%
- KX Canada Inc. 100%
- KX Systems Hungary Kft 100%
- First Derivatives plc 100%
- First Derivatives Services Limited 100%
- First Derivatives South Korea 100%
- MRP Holdings Limited 100%
- First Derivative Software Limited 100%
- FD Technologies Sweden AB 100%
- PharosIQ 49%
Significant events
- “On 8 May 2025, the boards of Kairos Bidco Ltd (a newly formed company indirectly owned by entities forming part of TA Fund XV) reached agreement on terms of a recommended acquisition by Bidco of the entire issued ordinary share capital of FD Technologies. The acquisition is intended to be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 23 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCMULLAN, Colette | Secretary | 2025-02-28 | — | — |
| CARR, Martin Leo | Director | 2025-07-23 | Aug 1986 | Irish |
| MULLEN, Cameron Alexander | Director | 2025-07-23 | Feb 1989 | American |
| REDDY, Ashok | Director | 2025-07-23 | Apr 1964 | American |
Show 23 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FULTON, Richard | Secretary | 2009-05-19 | 2014-04-01 |
| FULTON, Richard | Secretary | 1996-04-16 | 2005-04-30 |
| GIBBONS, John | Secretary | 2005-05-05 | 2009-05-19 |
| KEARNS, John Joseph | Secretary | 2014-04-01 | 2025-02-28 |
| ANDERSON, Robert David | Director | 2001-12-03 | 2016-05-13 |
| BRAZEL, Patrick | Director | 2010-08-05 | 2015-03-24 |
| CHICKEN, Michael John | Director | 2001-12-03 | 2005-11-21 |
| CONLON, Brian | Director | 1996-04-16 | 2019-07-28 |
| CUNNINGHAM, Kevin | Director | 2009-01-15 | 2013-05-09 |
| FAYYAD, Usama | Director | 2022-01-19 | 2025-07-21 |
| FERGUSON, Robert Graham | Director | 2008-09-01 | 2021-01-01 |
| FISHER, Steve | Director | 2020-09-15 | 2022-01-31 |
| GAMBALE, Virginia | Director | 2015-03-03 | 2023-12-29 |
| KEATING, Seamus Declan | Director | 2012-12-10 | 2025-07-30 |
| KINNEY, Paul | Director | 2008-05-14 | 2011-03-11 |
| MACDONALD, Keith Joseph | Director | 2011-07-20 | 2021-07-08 |
| O'NEILL, Michael George | Director | 2001-10-25 | 2013-05-09 |
| PRESTON, Michael Ryan | Director | 2021-01-01 | 2026-04-24 |
| ROBSON, Jon | Director | 2015-08-03 | 2017-05-15 |
| SAYED, Ayman | Director | 2020-07-01 | 2025-07-21 |
| SEIFERT, Thomas | Director | 2020-07-13 | 2025-07-21 |
| TONER, Adrian | Director | 2005-12-21 | 2013-05-09 |
| TROY, Donna | Director | 2018-01-15 | 2025-07-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Kx Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-07-21 | Active |
Filing timeline
Last 20 of 497 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-18 RESOLUTIONS Resolution
- 2025-10-23 RESOLUTIONS Resolution
- 2025-10-23 MA Memorandum articles
- 2025-10-08 CERTNM Certificate change of name company
- 2025-10-08 CONNOT Change of name notice
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-01 | SH01 | capital | Capital allotment shares | |
| 2026-03-18 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-18 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-02-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-11-27 | SH01 | capital | Capital allotment shares | |
| 2025-10-31 | SH01 | capital | Capital allotment shares | |
| 2025-10-29 | CH01 | officers | Change person director company with change date | |
| 2025-10-23 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-23 | MA | incorporation | Memorandum articles | |
| 2025-10-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-08 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-10-08 | CONNOT | change-of-name | Change of name notice | |
| 2025-08-28 | AA | accounts | Accounts with accounts type group | |
| 2025-08-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-13 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 3
- Officers appointed
- 3
- Officers resigned
- 6
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.