REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Finglow Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Finglow Limited |
Finglow Limited (Registered number: 01623997) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Finglow Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
12 Conqueror Court |
Sittingbourne |
Kent |
ME10 5BH |
Finglow Limited (Registered number: 01623997) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Finglow Limited (Registered number: 01623997) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Finglow Limited is a |
The company is part of a group. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Significant judgements and estimates |
No significant judgements or estimations have been applied in the preparation of the financial statements. |
Revenue |
Revenue 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
For software sales, where customers have purchased an "on-premesis product" 30% of the income amount is recognised as revenue, as an up-front licence cost. The remaining 70% is initially deferred and then released over the prescribed software licence period. |
Financial instruments |
The company only enters into basic financial transactions that require no specific disclosure. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment, since the difference between this basis and the amortised cost basis is not material. |
Finglow Limited (Registered number: 01623997) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short and long term creditors are measured at transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Finglow Limited (Registered number: 01623997) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the following amounts were owed by / to group companies and are included in debtors and creditors as appropriate:- |
2022 | 2022 | 2021 | 2021 |
Debtor | Creditor | Debtor | Creditor |
£ | £ | £ | £ |
Finglow Research Ltd | - | 109 | - | 109 |
Computer Engineering Inc | - | - | - | 110,336 |
Constellation Software Inc | 550,004 | - | 545,004 | - |
550,004 | 109 | 545,004 | 110,445 |
9. | IMMEDIATE PARENT COMPANY |
The company's immediate parent company is Constellation Software UK Holdco Ltd, which is registered in England and Wales. The company's registered office is Unit A1, Methuen Park, Chippenham, England, SN14 0GT. |
ULTIMATE PARENT COMPANY |
The ultimate parent undertaking and is Constellation Software Canada-UK Holdings Inc, which is incorporated in Canada. Copies of the financial statement can be obtained from 20 Adelaide St E Suite 1200 Toronto, ON, M5C 2T6 Canada. |
The company has no ultimate controlling party. |