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Company registration number: 06227812







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


TOLLGRADE UK LIMITED






































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TOLLGRADE UK LIMITED
 


 
COMPANY INFORMATION


Director
R Medved 




Company secretary
I R Cornes



Registered number
06227812



Registered office
Richmond House
Oldbury

Bracknell

Berkshire

RG12 8TQ




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


TOLLGRADE UK LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 7


 


TOLLGRADE UK LIMITED
REGISTERED NUMBER:06227812



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,765
-

Investments
 5 
2,500,283
2,500,283

  
2,502,048
2,500,283

Current assets
  

Debtors: amounts falling due within one year
 6 
1,225,463
1,565,239

Cash at bank and in hand
  
2,418,863
1,606,485

  
3,644,326
3,171,724

Creditors: amounts falling due within one year
 7 
(712,738)
(673,144)

Net current assets
  
 
 
2,931,588
 
 
2,498,580

Total assets less current liabilities
  
5,433,636
4,998,863

  

Net assets
  
5,433,636
4,998,863


Capital and reserves
  

Called up share capital 
  
100
100

Capital contribution reserve
  
599,900
599,900

Profit and loss account
  
4,833,636
4,398,863

  
5,433,636
4,998,863


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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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




................................................
R Medved
Director

Date: 25 July 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 


TOLLGRADE UK LIMITED
 


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

1.


General information

Tollgrade UK Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page.

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

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP, rounded to the nearest pound. 

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 


TOLLGRADE UK LIMITED
 


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

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents the net invoiced sales of goods, excluding value added tax. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes. The company has four main streams of turnover. The streams along with the accounting policy associated with their recognition are as follows:
 
Software licence and hardware sales - Turnover is recognised in full upon shipment of the software. This is deemed to be at the point of delivery to the customer. 
 
Maintenance sales - Maintenance sales are held on the balance sheet as "deferred revenue" and amortised over the period of maintenance to which it relates on a straight line basis.
 
Service sales - Turnover for services such as consultancy and training are recognised upon the performance of the service.
 
Hosted revenue - Software and services supplied over a centrally hosted platform are recognised by the number of ports used by the customers each month.

 
2.4

Interest income

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

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting 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 reporting 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 reporting date.

Page 3

 


TOLLGRADE UK LIMITED
 


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

2.Accounting policies (continued)

 
2.6

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
-
33% on cost

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.


3.


Employees

The average number of employees during the year was 7 (2022 - 7).

Page 4

 


TOLLGRADE UK LIMITED
 


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

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2022
16,535


Additions
1,765



At 31 October 2023

18,300



Depreciation


At 1 November 2022
16,535



At 31 October 2023

16,535



Net book value



At 31 October 2023
1,765



At 31 October 2022
-

Page 5

 


TOLLGRADE UK LIMITED
 


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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
2,500,283



At 31 October 2023
2,500,283




The investments held are preference shares in entities which are not direct subsidiaries of the entity but are wholly owned within the Enghouse Systems Limited group.


6.


Debtors

2023
2022
£
£


Trade debtors
628,104
681,840

Amounts owed by group undertakings
364,280
562,300

Prepayments and accrued income
186,421
154,888

Tax recoverable
36,609
153,418

Deferred taxation
10,049
12,793

1,225,463
1,565,239



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18,919
20,996

Amounts owed to group undertakings
487,719
394,489

Other taxation and social security
114,626
168,227

Accruals and deferred income
91,474
89,432

712,738
673,144


Page 6

 


TOLLGRADE UK LIMITED
 


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

8.


Contingent liabilities

An unlimited guarantee has been given in favour of Barclays Bank PLC in respect of this company, CTI Billing Solutions Limited, CTI Data Solutions Limited, Enghouse Development (UK) Limited, Enghouse Holdings (UK) Limited, Enghouse Interactive (UK) Limited, Enghouse Interactive Holdings (UK) Limited, Enghouse Networks (UK) Limited.


9.


Parent company

Enghouse Systems Limited, a company incorporated in Canada, is the parent company of the smallest group for which consolidated financial statements are drawn up of which the company is a member. The parent company's registered office is 80 Tiverton Court, Suite 800 Markham, ON L3R 0G4. 


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2023 was unqualified.

The audit report was signed on 25 July 2024 by Andrew Cook FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7