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Registered number: 08891597
















ESTATE MASTER UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 
ESTATE MASTER UK LIMITED
 

CONTENTS



Page
Statement of financial position
 
1
Notes to the financial statements
 
2 - 5


 
ESTATE MASTER UK LIMITED
REGISTERED NUMBER:08891597

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
64,090
66,589

Bank and cash balances
  
32,495
27,880

  
96,585
94,469

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(10,069)
(12,106)

  

Net assets
  
86,516
82,363


Capital and reserves
  

Called up share capital 
 6 
1
1

Profit and loss account
  
86,515
82,362

  
86,516
82,363


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 July 2022.




A Probyn
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ESTATE MASTER UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Estate Master UK Limited is a limited liability company incorporated in England and Wales, with its registered office at 180 Great Portland Street, London, W1W 5QZP.
The principal activity of the Company is that of a dedicated software house that has developed advanced systems for the real estate sector.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In considering the going concern assumption, the directors have prepared projections and cash flow forecasts and considered current facilities available to them. These indicate a material reliance on support from group companies will be required to enable the Company to continue as a going concern.
After making enquiries, the directors have a reasonable expectation that the Company will continue to receive support from group companies as required and therefore have adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis in preparing the annual report and financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.
Revenue for software sales and training is recognised at the point of supply. 
Revenue for support service is recognised evenly over the period of the contract. 
Revenue for subscription income is recognised dependant on the nature of the subscription. Right of use subscriptions, where a license is transferred to the customer for the length of the contract are recognised 50% at the point of supply, and the remainder recognised evenly over the period of the contract. Right of access subscriptions, where the Company retains control of the license are recognised evenly over the period of the contract.
Revenue received in advance of future services is carried forward as deferred income.

 
2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand with financial institutions.

Page 2

 
ESTATE MASTER UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from and to related parties.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is £ sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the applicable monthly average exchange rates published by HMRC.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The directors were the only employees of the Company during the current and preceding period.


Page 3

 
ESTATE MASTER UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Debtors

2021
2020
£
£


Trade debtors
1,931
2,067

Amounts owed by group undertakings
61,655
63,879

Other debtors
504
503

Prepayments and accrued income
-
140

64,090
66,589



5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
3,705
2,799

Other creditors
2,233
-

Accruals and deferred income
4,131
9,307

10,069
12,106



6.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 - 1) Ordinary share of £1
1
1



7.


Related party transactions

The Company has taken advantage of the exemption under FRS 102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


8.


Controlling party

The Company is a wholly owned subsidiary of Estate Master Group Holdings Pty Limited, a company incorporated in Australia. The directors regard Altus Group Limited, a company incorporated in Toronto, Ontario, Canada as the ultimate parent undertaking. Group accounts are available from the Altus Group website at www.altusgroup.com.

Page 4

 
ESTATE MASTER UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 20 July 2022 by Stephen Iseman FCA (Senior statutory auditor) on behalf of Sopher + Co LLP.

 
Page 5