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REGISTERED NUMBER: 07893466 (England and Wales)












CONGA EMEA LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CONGA EMEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: M N Goggin





REGISTERED OFFICE: 4 Studley Court
Guildford Road
Chobham
Woking
Surrey
GU24 8EB





REGISTERED NUMBER: 07893466 (England and Wales)





AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR

CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,081 17,256

CURRENT ASSETS
Debtors 5 3,643,311 3,941,486
Cash at bank 251,003 110,169
3,894,314 4,051,655
CREDITORS
Amounts falling due within one year 6 (515,241 ) (864,693 )
NET CURRENT ASSETS 3,379,073 3,186,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,381,154

3,204,218

PROVISIONS FOR LIABILITIES (520 ) (3,279 )
NET ASSETS 3,380,634 3,200,939

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital contribution reserve 606,254 606,254
Retained earnings 2,773,380 2,593,685
SHAREHOLDERS' FUNDS 3,380,634 3,200,939

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 director and authorised for issue on 1 November 2023 and were signed by:





M N Goggin - Director


CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

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


1. STATUTORY INFORMATION

Conga EMEA Limited 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 principal place of business is 3rd Floor, 62 Margaret Street, London W1W 8TF.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
As described in the post balance sheet events note, the company is in the process of transferring all employees across to Apttus EMEA Limited, a fellow subsidiary. This transfer is expected to be completed within 12 months of the signing of these financial statements, after which the company will cease trading. As a result of this the financial statements are being prepared on a basis other than going concern.

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
The turnover shown in the profit and loss account represents amounts receivable from the parent undertaking during the year, for the provision of sales and marketing support functions, exclusive of VAT.

Turnover in respect of services provided to the parent undertaking is calculated as attributable cost plus 6% in accordance with a transfer pricing agreement between Conga EMEA Limited and the parent undertaking.

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 - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 3 years

The profit or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company


CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

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


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Share-based payments
Share based payments are disclosed within the capital contribution reserve. Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the statement of comprehensive income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair vale of the options granted. As long as all other vesting conditions are satisfied, a charge is made irrespective of whether the market vesting conditions are satisfied. The cumulative expense is not adjusted for failure to achieve a market condition.

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the statement of comprehensive income over the remaining vesting period.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

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


2. ACCOUNTING POLICIES - continued

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022
and 31 January 2023 77,415 26,524 99,086 203,025
DEPRECIATION
At 1 February 2022 71,317 24,829 89,623 185,769
Charge for year 4,649 1,485 9,041 15,175
At 31 January 2023 75,966 26,314 98,664 200,944
NET BOOK VALUE
At 31 January 2023 1,449 210 422 2,081
At 31 January 2022 6,098 1,695 9,463 17,256

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 3,518,871 3,794,613
Other debtors 124,440 146,873
3,643,311 3,941,486

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,068 22,353
Taxation and social security 227,459 373,770
Other creditors 275,714 468,570
515,241 864,693

CONGA EMEA LIMITED (REGISTERED NUMBER: 07893466)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,692 95,476

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

The Report of the Auditors was unqualified.


We draw attention to note 2 to the financial statements which explains that the directors intend to cease trading of the company within 12 months of the signing of this audit report, and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. Our opinion is not modified in respect of this matter.

James Flood (FCA) (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

9. POST BALANCE SHEET EVENTS

In February 2023, the Company implemented an approved plan for restructuring its workforce to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the first quarter of fiscal 2024.

In August 2023, the company concluded on a settlement agreement with an employee. The arrangement included both contractual and non-contractual severance payments.

The total costs attributable to these events amounted to £210,120.

At the date of signing of these financial statements, the company is planning to TUPE all of its employees to Apttus EMEA Limited, a fellow subsidiary. This transfer is expected to be completed in the early part of 2024. After this transfer of employees has been completed the trade of Conga EMEA Limited will cease.

10. ULTIMATE CONTROLLING PARTY

The director regards Conga EMEA Holding Company LLC, a company incorporated under the laws of the state of California, to be the immediate parent company.

The director considers that there is no ultimate controlling party. The smallest parent company which prepares group accounts is Apttus Corporation. A copy of the consolidated financial statements can be obtained from, Apttus Corporation, 1840 Gateway Drive, San Mateo, California 94404, United States.