SAND Technology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04513443 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2019

for

SAND Technology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Bender

SECRETARY:

REGISTERED OFFICE:

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

REGISTERED NUMBER:

04513443 (England and Wales)

AUDITORS:

PPK Accountants Limited

Accountants and Registered Auditors

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

CURRENT ASSETS

Debtors

4

422

1,135

CREDITORS

Amounts falling due within one year

5

264,635

269,013

NET CURRENT LIABILITIES

(264,213

)

(267,878

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(264,213

)

(267,878

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(264,313

)

(267,978

)

SHAREHOLDERS' FUNDS

(264,213

)

(267,878

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2020 and were signed by:

J Bender - Director

1.	STATUTORY INFORMATION

SAND Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have prepared the report on a going concern basis, which contemplates continuity of normal

business activities and the realisation of assets and the settlement of liabilities in the ordinary course of

business. This is deemed to be appropriate not withstanding that the company has made profit for the year of £3,665 (2018: £4,947) and that as at 31 December 2019, the company has deficiency of net assets of

£264,213 (2018: £267,978).

N. Harris Computer Corporation, the immediate controlling entity, has provided a guarantee of support by way of a twelve months commitment to provide financial assistance to the company to ensure obligations are met as and when they fall due and whilst the company remains a subsidiary.

In the event that the parent and ultimate parent entities are unable or unwilling to provide the support outlined above, there is significant inherent uncertainty whether the Company will be able to continue as a going concern and therefore, whether it will continue its normal business activities and realise its assets and

extinguish its liabilities in the normal course of business and at the amounts stated in the financial statements.

These financial statements do not include adjustments relating to the recoverability and classification of

recorded asset amounts and classification of liabilities that might be necessary should the Company not

continue as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

422

1,135

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

240,623

204,648

Other creditors

24,012

64,365

264,635

269,013

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to Note 2 in the financial statements, which indicates that as at 31 December 2019, the Company's total liabilities exceeded its total assets by £264,213. As stated in Note 2, these events or conditions, along with other matters set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

James Brooks (Senior Statutory Auditor)

for and on behalf of PPK Accountants Limited

7.	ULTIMATE CONTROLLING PARTY

The controlling party is N. Harris Computer Corporation.

The ultimate controlling party is Constellation Software Inc..

The parent company is N. Harris Computer Corporation, 1 Antares Drive, Suite 400, Ottawa, Ontario,

K2E 8C4, Canada. The company is registered in Canada.

The ultimate controlling party is Constellation Software Inc. 20 Adelaide Street East, Suite 1200, Toronto, Ontario, Canada M5C 2T6. The company is registered in Canada.