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REGISTERED NUMBER: 06452488 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

RIB UK&I LIMITED

PREVIOUSLY KNOWN AS
RIB SOLUTIONS (UK) LIMITED

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


RIB UK&I LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: S J Dousie
Ms P M Cooper
G Cerrada
S Vetter





SECRETARY: Ms P M Cooper





REGISTERED OFFICE: Office 207
1 Giltspur Street
London
EC1A 9DD





REGISTERED NUMBER: 06452488 (England and Wales)





AUDITORS: Agnon LLP
Chartered Certified Accountants and
Statutory Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2022


The directors present their report with the financial statements of the company for the year ended 31 December 2022.

CHANGE OF NAME
The company passed a special resolution on 13 April 2023 changing its name from RIB Solutions (UK) Limited to RIB UK&I LIMITED.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of sale of software licenses, maintenance and training.

DIVIDENDS
An interim dividend of £330 per share was paid on 28 June 2022. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2022 will be £ 330,000 .

DIRECTORS
S J Dousie has held office during the whole of the period from 1 January 2022 to the date of this report.

Other changes in directors holding office are as follows:

Ms P M Cooper , G Cerrada and S Vetter were appointed as directors after 31 December 2022 but prior to the date of this report.

Ms C M Reilly ceased to be a director after 31 December 2022 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;
-make judgements 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2022


AUDITORS
The auditors, Agnon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S J Dousie - Director


30 June 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIB UK&I LIMITED


Opinion
We have audited the financial statements of RIB UK&I LIMITED (the 'company') for the year ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 December 2022 and of its profit 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 UK, including the FRC'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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIB UK&I LIMITED


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiring of management, the Audit & Risk Committee in-house and external legal counsel concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing regulatory correspondence with the Financial Conduct Authority;
- Obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RIB UK&I LIMITED


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 2006. Our 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 a Report of the Auditors 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.




Imran Ashraf (Senior Statutory Auditor)
for and on behalf of Agnon LLP
Chartered Certified Accountants and
Statutory Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
RH10 9WE

21 July 2023

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   

TURNOVER 3 2,658,753 2,566,126

Cost of sales 1,133,480 1,016,706
GROSS PROFIT 1,525,273 1,549,420

Administrative expenses 1,287,206 1,158,695
238,067 390,725

Other operating income 4 190,173 167,720
OPERATING PROFIT and
PROFIT BEFORE TAXATION 428,240 558,445

Tax on profit 7 82,263 108,207
PROFIT FOR THE FINANCIAL YEAR 345,977 450,238

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   

PROFIT FOR THE YEAR 345,977 450,238


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

345,977

450,238

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 12,158 17,645

CURRENT ASSETS
Debtors 10 491,477 299,440
Cash at bank and in hand 1,495,398 1,757,271
1,986,875 2,056,711
CREDITORS
Amounts falling due within one year 11 1,616,974 1,708,274
NET CURRENT ASSETS 369,901 348,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,059

366,082

CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 14 381,059 365,082
SHAREHOLDERS' FUNDS 382,059 366,082

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2023 and were signed on its behalf by:





S J Dousie - Director


RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2021 1,000 284,844 285,844

Changes in equity
Dividends - (370,000 ) (370,000 )
Total comprehensive income - 450,238 450,238
Balance at 31 December 2021 1,000 365,082 366,082

Changes in equity
Dividends - (330,000 ) (330,000 )
Total comprehensive income - 345,977 345,977
Balance at 31 December 2022 1,000 381,059 382,059

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

RIB UK&I 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 7.5% on cost
Computer equipment - 25%/40% on cost

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.


RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.12.22 31.12.21
£    £   
Sale of software 976,552 1,150,519
Service income 1,682,201 1,415,607
2,658,753 2,566,126

An analysis of turnover by geographical market is given below:

31.12.22 31.12.21
£    £   
United Kingdom 1,424,828 1,710,856
Europe 1,233,925 791,060
United States of America - 3,474
Rest of the world - 60,736
2,658,753 2,566,126

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. OTHER OPERATING INCOME
31.12.22 31.12.21
£    £   
Intercompany management Fees 190,173 167,720

5. EMPLOYEES AND DIRECTORS
31.12.22 31.12.21
£    £   
Wages and salaries 683,474 670,425
Social security costs 77,063 111,003
Other pension costs 1,321 1,318
761,858 782,746

The average number of employees during the year was as follows:
31.12.22 31.12.21

Sales 5 3
Product Engineer/specialist 2 3
7 6

31.12.22 31.12.21
£    £   
Directors' remuneration 372,989 301,258
Directors' pension contributions to money purchase schemes 1,321 1,318

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
31.12.22 31.12.21
£    £   
Emoluments etc 372,989 301,258
Pension contributions to money purchase schemes 1,321 1,318

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. OPERATING PROFIT

The operating profit is stated after charging:

31.12.22 31.12.21
£    £   
Depreciation - owned assets 9,514 10,226
Auditors' remuneration 5,100 6,091
Auditors' remuneration for non audit work 1,724 1,100
Foreign exchange differences 45,133 22,878

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.22 31.12.21
£    £   
Current tax:
UK corporation tax 82,263 108,207
Tax on profit 82,263 108,207

UK corporation tax has been charged at 19% (2021 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.22 31.12.21
£    £   
Profit before tax 428,240 558,445
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2021 - 19%)

81,366

106,105

Effects of:
Depreciation in excess of capital allowances 1,042 1,206
Other adjustment (145 ) 896

Total tax charge 82,263 108,207

8. DIVIDENDS
31.12.22 31.12.21
£    £   
Ordinary shares of 1 each
Interim 330,000 370,000

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 29,974 45,006 15,146 5,551 95,677
Additions - 4,027 - - 4,027
At 31 December 2022 29,974 49,033 15,146 5,551 99,704
DEPRECIATION
At 1 January 2022 24,709 39,542 8,230 5,551 78,032
Charge for year 5,222 3,160 1,132 - 9,514
At 31 December 2022 29,931 42,702 9,362 5,551 87,546
NET BOOK VALUE
At 31 December 2022 43 6,331 5,784 - 12,158
At 31 December 2021 5,265 5,464 6,916 - 17,645

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 473,558 278,180
Other debtors 6,292 -
Prepayments and deposits 11,627 21,260
491,477 299,440

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 24,278 26,909
Amounts owed to group undertakings 726,305 1,032,120
Tax 30,442 40,097
VAT 70,030 82,605
Other creditors - 1,309
Accruals and deferred income 765,919 525,234
1,616,974 1,708,274

RIB UK&I LIMITED (REGISTERED NUMBER: 06452488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year - 22,625

13. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1,000 Ordinary 1 1,000 1,000

14. RESERVES
Retained
earnings
£   

At 1 January 2022 365,082
Profit for the year 345,977
Dividends (330,000 )
At 31 December 2022 381,059

15. ULTIMATE PARENT COMPANY

Schneider Electric S.E (incorporated in France ) is regarded by the directors as being the company's ultimate parent company.

The company is a wholly owned subsidiary of RIB Software International Limited, a company incorporated in Hong Kong.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Schneider Electric S.E(incorporated in France)..

The largest and smallest group financial statements that consolidates this company are as follows;
Largest group: Schneider Electric S.E, group accounts are available to the public from Rueil-Malmaison, France.
Smallest group: RIB Software International Limited, group accounts are available to the public from 20/F, Greenwich Centre, 260 King's Road, North Point, Hong Kong, China