Acadiasoft (UK) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07281693 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ACADIASOFT (UK) LTD

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

Directors:

Mr S Petersen

Mr C Walsh

Secretaries:

Mr S Petersen

Vistra Company Secretaries Limited

Registered office:

Suite 1, 7th Floor

50 Broadway

London

London

SW1H 0BL

Registered number:

07281693 (England and Wales)

Auditors:

Fuller & Roper Limited

Chartered Accountants and Statutory Auditors

12 Old Mills Industrial Estate

Paulton

BS39 7SU

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

Principal activity

The principal activity of the company in the year under review was that of software sales and support.

Events since the end of the year

Information relating to events since the end of the year is given in the notes to the financial statements.

Directors

The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

Mr S Petersen

Mr C Walsh

Other changes in directors holding office are as follows:

Mr M Stein ceased to be a director after 31 December 2022 but prior to the date of this report.

Statement of directors' responsibilities

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Fuller & Roper Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr S Petersen - Director

12 September 2023

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

74,669

78,237

74,669

78,237

CURRENT ASSETS

Debtors

6

21,048

34,097

Cash at bank

810,624

333,482

831,672

367,579

CREDITORS

Amounts falling due within one year

7

(2,543,022

)

(2,199,208

)

NET CURRENT LIABILITIES

(1,711,350

)

(1,831,629

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,636,681

)

(1,753,392

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,636,682

)

(1,753,393

)

SHAREHOLDERS' FUNDS

(1,636,681

)

(1,753,392

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:

Mr S Petersen - Director

1.	STATUTORY INFORMATION

Acadiasoft (UK) Ltd 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 Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is derived from the transfer pricing agreement in place on a cost plus basis.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible Assets is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

- over the term of the lease

Plant and machinery

- 20% straight line

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.

Cash and cash equivalents comprise of cash at bank.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Group loans

Inter group loans are interest free and repayable on demand.

Going concern

The financial statements have been prepared using the going concern basis. This is considered appropriate as the parent company has undertaken not to withdraw amounts owed to it until such time that the company has the ability to repay these amounts and to continue to provide additional funds to the company as necessary to allow it to continue trading.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2021 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Intangible

Assets

£

Cost

At 1 January 2022

and 31 December 2022

3,905

Amortisation

At 1 January 2022

and 31 December 2022

3,905

Net book value

At 31 December 2022

-

At 31 December 2021

-

5.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

improvements

machinery

Totals

£

£

£

Cost

At 1 January 2022

16,917

125,042

141,959

Additions

-

21,303

21,303

Disposals

-

(21,655

)

(21,655

)

At 31 December 2022

16,917

124,690

141,607

Depreciation

At 1 January 2022

3,282

60,440

63,722

Charge for year

3,030

21,841

24,871

Eliminated on disposal

-

(21,655

)

(21,655

)

At 31 December 2022

6,312

60,626

66,938

Net book value

At 31 December 2022

10,605

64,064

74,669

At 31 December 2021

13,635

64,602

78,237

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

21,048

34,097

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

39,108

25,983

Taxation and social security

40,156

43,843

Other creditors

2,463,758

2,129,382

2,543,022

2,199,208

Amounts included within other creditors are unsecured, interest free and repayable on demand.

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

The Report of the Auditors was unqualified.

Simon Roper (Senior Statutory Auditor)

for and on behalf of Fuller & Roper Limited

9.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £649,214 (2021 - £834,704)

10.	RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £1,514,917 (2021 £1,205,487) owed to Acadiasoft Inc, the parent company.

During the year the company invoiced an amount of £5,264,588 (2021 £4,995,324) to Acadiasoft Inc., under the transfer pricing agreement. At the 31 December 2022 £nil balance was outstanding (2021 £nil).

11.	SUBSEQUENT EVENTS

On 31 March 2023, the parent company, Acadiasoft Inc., was acquired by London Stock Exchange Group plc.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Acadiasoft Inc., a company incorporated in the United States. It is the opinion of the directors that there was no controlling party during the year.