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ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
COMPANY INFORMATION


Directors
I J Stone (resigned 19 December 2022)
A Bimson (resigned 19 December 2022)
D R N Ely (resigned 9 September 2022)
P S Hunt (appointed 9 September 2022, resigned 19 December 2022)
N Pichelot (appointed 19 December 2022, resigned 31 July 2023)
G M Giangiordano (appointed 19 December 2022)
H D Kapadia (appointed 1 July 2023)




Registered number
11197389



Registered office
Regent's Place 15th & 16th Floors
338 Euston Road

London

NW1 3BT




Trading Address
Regent's Place 15th & 16th Floors
338 Euston Road

London

NW1 3BT






Independent auditors
Warrener Stewart
Chartered Accountants & Statutory Auditors

Harwood House

43 Harwood Road

London

SW6 4QP






 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 


CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 6
Statement of Comprehensive Income
 
7
Balance Sheet
 
8
Statement of Changes in Equity
 
9
Notes to the Financial Statements
 
10 - 19



 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2023

The directors present their report and the financial statements for the year ended 31 January 2023.

Directors

The directors who served during the year were:

I J Stone (resigned 19 December 2022)
A Bimson (resigned 19 December 2022)
D R N Ely (resigned 9 September 2022)
P S Hunt (appointed 9 September 2022, resigned 19 December 2022)
N Pichelot (appointed 19 December 2022, resigned 31 July 2023)
G M Giangiordano (appointed 19 December 2022)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements and then apply them consistently;

make judgments 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

The company changed its name by special resolution on 1 February 2023 to Anaplan UK Group Limited.

Page 1


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023

Auditors

The auditorsWarrener Stewartwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





G M Giangiordano
Director

Date: 31 October 2023

Page 2


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)


INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

Opinion


We have audited the financial statements of Anaplan UK Group Limited (formerly Vuealta Group Limited) (the 'Company') for the year ended 31 January 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 January 2023 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED) (CONTINUED)

Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED) (CONTINUED)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment of the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur, is considered to be low.  This conclusion was reached after consideration of the following:

a clear segregation between senior management, finance management and operations staff resulting in a high level of review control;
a high level of review of key performance and similar indicators;
a high level of informed management within senior and finance management;
the general absence of individuals with opportunity and authority to override controls undetected; and
a high level of long service, experience and trust within key finance management.

We designed our audit procedures to respond to identified audit risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below:
 
review of control accounts and journal entries for large, unusual or unauthorised entries;
analytical review of the detailed profit and loss account for variances that are either unexpected or felt not to be in accordance with our understanding of the business during the year;
obtaining and reviewing for completeness a list of entities and persons considered to be related parties (as defined by Financial Reporting Standard 102) and reviewing the ledgers of the Company for previously unreported related party transactions;
review of transactions and journals for any indication of fraud or management override; and
consideration of the going concern basis to ensure correct application and no fundamental irregularity in the presentation of the financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
 


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 5

 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED) (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Jon Last (Senior Statutory Auditor)
  
for and on behalf of
Warrener Stewart
 
Chartered Accountants & Statutory Auditors
  
Harwood House
43 Harwood Road
London
SW6 4QP

 
Date: 
31 October 2023
Page 6


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2023

2023
2022
Note
£
£

  

Turnover
  
-
283,736

Cost of sales
  
(11,512)
(199,536)

Gross (loss)/profit
  
(11,512)
84,200

Administrative expenses
  
49,952
(988,366)

Operating profit/(loss)
  
38,440
(904,166)

Income from fixed assets investments
  
-
900,000

(Loss)/profit on disposal of subsidiaries/associates
 6 
(309,881)
425,374

Interest receivable and similar income
  
71
393

Interest payable and similar expenses
  
-
(21,557)

(Loss)/profit before tax
  
(271,370)
400,044

Tax on (loss)/profit
 5 
-
-

(Loss)/profit for the financial year
  
(271,370)
400,044

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 10 to 19 form part of these financial statements.

Page 7


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
REGISTERED NUMBER:11197389


BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 8 
8
673,620

  
8
673,620

Current assets
  

Debtors: amounts falling due within one year
 9 
2,078,571
1,308,558

Cash at bank and in hand
 10 
-
1,142,527

  
2,078,571
2,451,085

Creditors: amounts falling due within one year
 11 
(368,016)
(118,049)

Net current assets
  
 
 
1,710,555
 
 
2,333,036

  

Net assets
  
1,710,563
3,006,656


Capital and reserves
  

Called up share capital 
 12 
309
254

Share premium account
  
464,194
3,713,606

Capital redemption reserve
  
8
8

Profit and loss account
  
1,246,052
(707,212)

  
1,710,563
3,006,656


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 were approved and authorised for issue by the board and were signed on its behalf by: 




G M Giangiordano
Director

Date: 31 October 2023

The notes on pages 10 to 19 form part of these financial statements.

Page 8


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 February 2021
189
736,944
-
(1,418,814)
(681,681)



Profit for the year
-
-
-
400,044
400,044

Purchases of own shares
-
-
8
-
8

Share issue expenses
-
(644,892)
-
-
(644,892)

Dividends (see note 6)
-
-
-
(425,386)
(425,386)

Shares issued during the year
73
4,358,498
-
-
4,358,571

Shares redeemed during the year
(8)
-
-
-
(8)

Share premium account conversion (see note 14)
-
(736,944)
-
736,944
-



At 1 February 2022
254
3,713,606
8
(707,212)
3,006,656



Loss for the year
-
-
-
(271,370)
(271,370)

Share issue expenses
-
(89,149)
-
-
(89,149)

Dividends (see note 6)
-
-
-
(2,999,997)
(2,999,997)

Shares issued during the year
55
2,064,368
-
-
2,064,423

Share premium account conversion (see note 14)
-
(5,224,631)
-
5,224,631
-


At 31 January 2023
309
464,194
8
1,246,052
1,710,563


The notes on pages 10 to 19 form part of these financial statements.

Page 9


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Vuealta Group Limited is incorporated and domiciled in England and Wales. The registered office address and trading address is Regent's Place 15th & 16th Floors, 338 Euston Road, London, United Kingdom, NW1 3BT. The principal activity of the company is that of a holding company.
On 19 December 2022, Anaplan Inc completed the acquisition of Vuealta's applications division. Vuealta Group Limited, Vuealta Developments Limited and Vuealta Applications Limited were included in the acquisition and were renamed as Anaplan UK Group Limited, Anaplan UK Developments Limited and Anaplan UK Applications Limited respectively.  
Anaplan UK Holdings Limited, which is the direct parent company, has 100% control over them.

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

For the purposes of assessing whether 'going concern' is an appropriate basis for preparing the financial statements, the directors have reviewed projections for the next 12 months using assumptions which the directors consider to be appropriate to the current financial position of the Company with regards to expenses and forward cash.
During the year ended 31 January 2023 the company suffered a loss after taxation of £271,370.
The company has the financial support of Anaplan Limited, a fellow group undertaking of the Anaplan group of companies who has agreed to offer financial support to enable Anaplan UK Group Limited to continue in operational existence for at least one year from the date of signature of the financial statements.  
In light of the above and after taking into account all information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the company's financial statements.

 
2.3

Cash flow statement and related party disclosures

FRS 102 Section 1A allows a qualifying entity certain disclosure exemptions. The company has taken advantage of the following exemptions:
The company is exempt from preparing a cash flow statement.
The company is exempt from the requirements concerning wholly owned group related party transaction disclosures. 

Page 10


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 11


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 12


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 13


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Auditors' remuneration

2023
2022
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
7,500
4,000

Fees payable to the Company's auditors in respect of:

Taxation compliance services
1,000
1,000

Assistance with the preparation of financial statements
2,500
2,500


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 14


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Taxation


2023
2022
£
£



Total current tax
-
-

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - lower than) the standard rate of corporation tax in the UK of 19% (2022 -19%). The differences are explained below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(271,370)
400,044


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
(51,560)
76,008

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
3,041
2,743

Capital allowances for year in excess of depreciation
205
-

Utilisation of tax losses
(10,563)
-

Non-taxable expense/(income) - loss on disposal of subsidiaries/profit on disposal of associate
58,877
(80,821)

Dividends from UK companies
-
(171,000)

Group relief
-
173,070

Total tax charge for the year
-
-


Factors that may affect future tax charges

The company has trading losses of approximately £418,000 (2022: 474,000) to carry forward against future trading profits subject to agreement by HM Revenue & Customs.
The maximum potential deferred tax asset of approximately £104,500 (2022: £90,000) which arises as a consequence of there losses has not been recognised within the company's balance sheet as its recoverability is dependent on future taxable profits and there is uncertainty as to the period over which these taxable profits might arise.

Page 15


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Exceptional items

2023
2022
£
£


(Loss)/profit on disposal of subsidiaries/associates
(309,881)
425,374

During the year the Company disposed of its 100% owned subsidiary undertakings, Vuealta Limited, Vuealta Inc and Vuealta Pte Ltd for total consideration of £3. The fair market value of the subsidiary undertakings at the disposal date was deemed to be £3,000,000. The Company has reported the fair value loss of £309,881 in its Statement of Comprehensive Income. The fair value uplift of £2,999,997 has been treated as a deemed distribution and included within the Company's Statement of Changes in Equity.
During the prior year the company disposed of its 30% interest in Vuealta Holding AB. Deemed proceeds from the sale were £425,386 which resulted in a profit on sale of £425,374 being reported.


7.


Tangible fixed assets





Computer equipment

£





Additions
16,519


Disposals
(16,519)



At 31 January 2023

-





Charge for the year on owned assets
1,077


Disposals
(1,077)



At 31 January 2023

-



Net book value



At 31 January 2023
-



At 31 January 2022
-

Page 16


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2022
673,620


Additions
2,636,269


Disposals
(3,309,881)



At 31 January 2023
8





9.


Debtors

2023
2022
£
£


Trade debtors
-
39,106

Amounts owed by group undertakings
2,078,568
1,226,790

Other debtors
3
11,294

Prepayments and accrued income
-
31,368

2,078,571
1,308,558



10.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
1,142,527


Page 17


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
73,899

Amounts owed to group undertakings
296,066
-

Accruals and deferred income
71,950
44,150

368,016
118,049



12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



21,180 (2022 - 18,729) Ordinary shares of £0.01 each
211.80
187.29
6,271 (2022 - 6,271) A Ordinary shares of £0.01 each
62.71
62.71
379 (2022 - 379) C Ordinary shares of £0.01 each
3.79
3.79
3,082 (2022 - 0) A1 Ordinary shares of £0.01 each
30.82
-

309.12

253.79


On 24 May 2022, 963 A1 Ordinary Shares of £0.01 each were allotted for total consideration of £499,999 resulting in a premium on issue of £499,989.
On 22 July 2022, 2,119 A1 Ordinary Shares of £0.01 each were allotted for total consideration of £1,100,206 resulting in a premium on issue of £1,100,185.
On 19 December 2022, 2,451 Ordinary Shares of £0.01 each were allotted for total consideration of £464,219 resulting in a premium on issue of £464,194.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2022: £15,394). Contributions totalling £nil (2022: £nil) were payable to the fund at the balance sheet date.


14.


Share premium

On 17 December 2022, the company, by special resolution, converted the share premium balance of £5,224,631 (2022: £736,944) into distributable reserves, crediting the retained earnings account.

Page 18


 
ANAPLAN UK GROUP LIMITED (FORMERLY VUEALTA GROUP LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

15.


Post balance sheet events

The company changed its name by special resolution on 1 February 2023 to Anaplan UK Group Limited.


16.


Controlling party

The immediate parent undertaking of Anaplan UK Group Limited is Anaplan UK Holdings Limited. 
The largest and smallest group that draws up consolidated financial statements including Anaplan UK Group Limited is Anaplan Inc, a company registered in the USA. The registered office of the parent company is 50 Hawthorne St, San Francisco, California 94105. The consolidated group accounts are not publicly available.
The ultimate parent undertaking and controlling party of Anaplan UK Group Limited is Project Alpine Co-Invest Fund, L.P.

 
Page 19