Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31false2022-02-018falseNo description of principal activity4false 11802026 2022-02-01 2023-01-31 11802026 2021-02-01 2022-01-31 11802026 2023-01-31 11802026 2022-01-31 11802026 2021-02-01 11802026 1 2022-02-01 2023-01-31 11802026 d:Director1 2022-02-01 2023-01-31 11802026 d:Director1 2023-01-31 11802026 d:Director2 2022-02-01 2023-01-31 11802026 d:Director2 2023-01-31 11802026 d:Director3 2022-02-01 2023-01-31 11802026 d:Director3 2023-01-31 11802026 d:Director4 2022-02-01 2023-01-31 11802026 d:Director4 2023-01-31 11802026 d:Director5 2022-02-01 2023-01-31 11802026 d:Director5 2023-01-31 11802026 d:RegisteredOffice 2022-02-01 2023-01-31 11802026 c:ComputerEquipment 2022-02-01 2023-01-31 11802026 c:ComputerEquipment 2023-01-31 11802026 c:ComputerEquipment 2022-01-31 11802026 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 11802026 c:CurrentFinancialInstruments 2023-01-31 11802026 c:CurrentFinancialInstruments 2022-01-31 11802026 c:CurrentFinancialInstruments c:WithinOneYear 2023-01-31 11802026 c:CurrentFinancialInstruments c:WithinOneYear 2022-01-31 11802026 c:UKTax 2022-02-01 2023-01-31 11802026 c:UKTax 2021-02-01 2022-01-31 11802026 c:ShareCapital 2023-01-31 11802026 c:ShareCapital 2022-01-31 11802026 c:ShareCapital 2021-02-01 11802026 c:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 11802026 c:RetainedEarningsAccumulatedLosses 2023-01-31 11802026 c:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 11802026 c:RetainedEarningsAccumulatedLosses 2022-01-31 11802026 c:RetainedEarningsAccumulatedLosses 2021-02-01 11802026 d:OrdinaryShareClass1 2022-02-01 2023-01-31 11802026 d:OrdinaryShareClass1 2023-01-31 11802026 d:OrdinaryShareClass1 2022-01-31 11802026 d:FRS102 2022-02-01 2023-01-31 11802026 d:Audited 2022-02-01 2023-01-31 11802026 d:FullAccounts 2022-02-01 2023-01-31 11802026 d:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11802026 2 2022-02-01 2023-01-31 11802026 6 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11802026













ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

 
COMPANY INFORMATION


Directors
I J Stone (resigned 19 December 2022)
A Bimson (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 August 2023)




Registered number
11802026



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

London

NW1 3BT




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

London

NW1 3BT






Independent auditors
Warrener Stewart
Chartered Accountants & Statutory Auditors

Harwood House

43 Harwood Road

London

SW6 4QP






 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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 - 18



 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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)
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 Developments Limited.

Page 1


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)


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

Opinion


We have audited the financial statements of Anaplan UK Developments Limited (formerly Vuealta Developments 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2023

2023
2022
Note
£
£

  

Turnover
  
274,200
-

Cost of sales
  
(172,403)
-

Gross profit
  
101,797
-

Distribution costs
  
(257,477)
-

Administrative expenses
  
(1,030,423)
(846,356)

Other operating income
  
-
21,497

Operating loss
  
(1,186,103)
(824,859)

Income from fixed assets investments
  
-
61,838

Interest receivable and similar income
  
-
25

Loss before tax
  
(1,186,103)
(762,996)

Tax on loss
 5 
-
189,775

Loss for the financial year
  
(1,186,103)
(573,221)

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 18 form part of these financial statements.

Page 7


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
REGISTERED NUMBER:11802026


BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
-
5,279

Investments
 7 
1
1

  
1
5,280

Current assets
  

Debtors: amounts falling due within one year
 8 
508,445
190,147

  
508,445
190,147

Creditors: amounts falling due within one year
 9 
(2,777,633)
(1,278,511)

Net current liabilities
  
 
 
(2,269,188)
 
 
(1,088,364)

  

Net liabilities
  
(2,269,187)
(1,083,084)


Capital and reserves
  

Called up share capital 
 10 
8
8

Profit and loss account
  
(2,269,195)
(1,083,092)

  
(2,269,187)
(1,083,084)


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 18 form part of these financial statements.

Page 8


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 


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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2021
8
(509,871)
(509,863)



Loss for the year
-
(573,221)
(573,221)



At 1 February 2022
8
(1,083,092)
(1,083,084)



Loss for the year
-
(1,186,103)
(1,186,103)


At 31 January 2023
8
(2,269,195)
(2,269,187)


The notes on pages 10 to 18 form part of these financial statements.

Page 9


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

1.


General information

Anaplan UK Developments Limited is incorporated and domiciled in England and Wales. The registered office address and trading address is Regent's Place, 15th & 16th Floors, 388 Euston Road, London, NW1 3BT. The principal activity of the company is the development and sale of supply chain planning applications.
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 indirect 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 revenue, cost of sales, expenses and forward cash.
During the year ended 31 January 2023 the company suffered a loss after taxation of £1,186,103 which increased the balance sheet deficit to £2,269,187 at the year end.
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 Developments 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

Cashflow 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 disclosure.

Page 10


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS 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.

Page 11


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Interest income

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

 
2.9

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.

Page 12


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 13


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
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.


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
1,500
1,500

Assistance with the preparation of financial statements
1,250
1,250


4.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 4).

Page 14


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

5.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
(189,775)


Total current tax
-
(189,775)

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 on ordinary activities before tax
(1,186,103)
(762,996)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
(225,360)
(144,969)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
497
36

Capital allowances for year in excess of depreciation
353
(522)

Adjustment in research and development tax credit leading to an decrease in the tax charge
-
(81,659)

Dividends from UK companies
-
(11,749)

Unrelieved tax losses carried forward
224,510
49,088

Total tax charge for the year
-
(189,775)


Factors that may affect future tax charges

The company has trading losses of approximately £1,590,000 (2022: £408,000) to carry forward against future trading profits subject to agreement by HM Revenue & Customs.
The maximum potential deferred tax asset of approximately £397,500 (2022: £77,520) which arises as a consequence of these 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 DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

6.


Tangible fixed assets





Computer equipment

£





At 1 February 2022
7,646


Disposals
(7,646)



At 31 January 2023

-





At 1 February 2022
2,367


Charge for the year on owned assets
1,857


Disposals
(4,224)



At 31 January 2023

-



Net book value



At 31 January 2023
-



At 31 January 2022
5,279


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2022
1



At 31 January 2023
1




Page 16


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

8.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
431,406
-

Other debtors
-
6

Prepayments and accrued income
77,039
366

Tax recoverable
-
189,775

508,445
190,147



9.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
539

Amounts owed to group undertakings
2,381,157
1,201,678

Other creditors
-
895

Accruals and deferred income
396,476
75,399

2,777,633
1,278,511



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



750 (2022 - 750) Ordinary shares of £0.01 each
8
8



11.


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 £47,744 (2022: £27,808). Contributions totalling £nil (2022: £895) were payable to the fund at the balance sheet date and are included in creditors.


12.


Post balance sheet events

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

Page 17


 
ANAPLAN UK DEVELOPMENTS LIMITED (FORMERLY VUEALTA DEVELOPMENTS LIMITED)
 

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

13.


Controlling party

The immediate parent undertaking of Anaplan UK Developments Limited is Anaplan UK Group Limited. 
The largest and smallest group that draws up consolidated financial statements including Anaplan UK Developments 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 Developments Limited is Project Alpine Co-Invest Fund, L.P.

 
Page 18