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Registered number: 14531688













ANAPLAN UK HOLDINGS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2024


 
ANAPLAN UK HOLDINGS LIMITED
 

 
COMPANY INFORMATION


Directors
G M Giangiordano (appointed 9 December 2022)
H D Kapadia (appointed 1 August 2023)
D J Moriarty (appointed 3 April 2023)
N Pichelot (appointed 19 December 2022, resigned 31 July 2023)
J B Kasper (appointed 1 May 2024)




Registered number
14531688



Registered office
Regent's Place
15th and 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 HOLDINGS LIMITED
 


CONTENTS



Page
Group Strategic Report
 
1 - 3
Directors' Report
 
4 - 6
Independent Auditors' Report
 
7 - 10
Consolidated Statement of Comprehensive Income
 
11
Consolidated Balance Sheet
 
12
Company Balance Sheet
 
13
Consolidated Statement of Changes in Equity
 
14
Company Statement of Changes in Equity
 
15
Consolidated Statement of Cash Flows
 
16
Consolidated Analysis of Net Debt
 
17
Notes to the Financial Statements
 
18 - 41



 
ANAPLAN UK HOLDINGS LIMITED
 

 
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024

Introduction
 
The principal activity of the group is that of a SaaS group that develops software and offers cloud-based subscriptions to our online platform, consultancy, support and training services to its customers around the world.

Business review
 
Anaplan UK Holdings Limited (the "group") was incorporated on 9 December 2022 with the aim to hold investments. In December 2022 the company acquired Vuealta Group Limited (now known as, Anaplan UK Group Limited), Vuealta Applications Limited (now known as, Anaplan UK Applications Limited) and Vuealta Developments (now known as, Anaplan UK Developments Limited).

In May 2023 following a group reconstruction, Anaplan UK Holdings Limited acquired the main UK trading company in the group, Anaplan Limited from its parent company, Anaplan Inc.

The group has recorded strong revenues of £305m, and has made an operating profit of £22m for the period. The group has reported a loss before tax for the period of £1.9m, of which £25.7m related to the interest on loans from group undertakings following the purchase of Anaplan Limited. The group has net liabilities of £259m.

Anaplan Limited, the main UK trading company in the group, saw an impressive increase in net margin of 28% (2023: 20% reduction) driven by an increase in subscriptions and a reduction in costs. The reduction in costs during the period was mainly driven by the following factors:

Following the acquisition by Thoma Bravo in June 2022, in the year ended 31 January 2023, the company made an exceptional one-off payment in the form of Cash Replacement Awards which replaced all Share Options and RSUs. The remaining unvested equity-based awards were converted into the right to receive cash payments, subject to employee performance and vesting conditions.
To help drive business efficiencie, thereby minimising costs, in the latter part of 2023 the company moved part of its R&D function to overseas.
The company continues to invest in the business and drive for process efficiency where possible.

The cash reserves of the group remain very strong with a cash at bank balance of £89m at the balance sheet date. The directors are satisfied with the overall performance of the group and its bright outlook for the future as we continue to see further product launches and an ever growing product roadmap. The directors will monitor opportunities for strategic acquisitions to further boost the offerings Anaplan can bring to its customers.

Principal risks and uncertainties
 
Economic risk
The principal risk to the business is the health of the SaaS market and state of the wider economy. As SaaS and ‘the Cloud’ is becoming widely accepted around the world, this is generating significant growth in the market. In particular, the need for fast, agile planning and decision-making being of great importance at present, should only help the company to continue to grow at a healthy pace. The market is affected by a number of factors such as the economic performance and stability of the region generally. 



 

 
Page 1


 
ANAPLAN UK HOLDINGS LIMITED
 


GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

Foreign exchange risk
The group is exposed in its trading operations to the risk of changes in foreign currency exchange rates. Due to the group’s growth, this is now seen as a significant risk but as the group both buys and sells within Europe and outside, the risk is mitigated to an extent. The treasury team is constantly reviewing the foreign exchange fluctuations and acting accordingly. The main foreign currencies in which the group operates are the Euro and US dollar. 

Financial key performance indicators
 
Management monitors the performance of the business by reference to internal budgets and industry averages. These indicators are considered sufficient to provide an overview of business performance relative to expectations and market trends.

Other key performance indicators
 
There are no other key performance indicators for the group.

Directors' statement of compliance with duty to promote the success of the Group
 
The directors of the company, as with those of all UK companies, must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 which is summarised as follows:
 
A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:
 
The interest of the company’s employees and culture;
The desirability of the company maintaining a reputation for high standards of business conduct; 
The need to maintain the company’s business relationships with suppliers, customers and other external          stakeholders;
The likely consequences of any decisions in the long term; and
The impact of the company’s operations on the community and environment.

As part of their introduction, a director is briefed on their duties and they can access professional advice on these, either from the company secretary or, if they judge it necessary, from an independent advisor. 
 
The following paragraphs summarise how the directors fulfil their key duties:

Employees, culture and values

At Anaplan, our values are key to everything we do. We call it I. Act. Real. Our values are - Innovative, Accountable, Collaborative, Transparent, Resilient, Empathetic and Authentic. At Anaplan these values come to life by making employees feel empowered and inspired. Building a strong culture around company values is an ongoing journey that will continue to be the core of our existence. Anaplan thrives on diversity, inclusion and belonging where all people are respected and valued regardless of gender identity or expression, sexual orientation, religion, ethnicity, age, neurodiversity, disability status, citizenship, or any other aspect which makes people unique. Anaplan wants you to bring your true self to work every day.

Page 2


 
ANAPLAN UK HOLDINGS LIMITED
 


GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

Business relationships
 
Our strategy prioritises organic growth with an equal focus given to landing new customers while also expanding our product offering/use cases with existing customers within other areas of their organisation. The Anaplan Platform helps you dynamically orchestrate performance enterprise-wide and convert constant change to your advantage.
We’re proud to partner with many of the world’s leading experts to bring digital transformation to our customers. Our partners are essential to meeting the extraordinary customer demand we are seeing for Connected Planning. Highly-skilled partners who truly understand a customer’s challenges and know how to use Anaplan to solve those pain-points can make a huge difference in the marketplace.
 
We value all of our suppliers and have many multi-year contracts with our key suppliers. 
 
Risk Management

In many cases we provide business critical services to our customers. As we continue to grow, our business and our risk environment also becomes more complex. It is therefore vital that we effectively identify, evaluate, manage and mitigate the risks we face, and that we continue to evolve our approach to risk management. 
 
Community and environment

At Anaplan, we believe it’s very important to give back to the local community, as such all employees get three paid volunteering days per year to go and help support a charity or cause they feel passionate about. The company also closely considers its impact on the environment when making decisions.


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





................................................
D J Moriarty
Director

Date: 6 September 2024

Page 3


 
ANAPLAN UK HOLDINGS LIMITED
 

 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024

The directors present their report and the financial statements for the period ended 31 January 2024.

Directors

The directors who served during the period were:

G M Giangiordano (appointed 9 December 2022)
H D Kapadia (appointed 1 August 2023)
D J Moriarty (appointed 3 April 2023)
N Pichelot (appointed 19 December 2022, resigned 31 July 2023)

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the period, after taxation, amounted to £54m.

The directors do not recommend payment of a dividend and the profit for the period will be transferred to reserves.

Future developments

The directors will continue to maintain the management policies that have resulted in continued growth across the group.

Page 4


 
ANAPLAN UK HOLDINGS LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

Engagement with employees

The group communicates regularly with employees in the form of monthly update meetings. The meetings are led by a member of the EC (Executive Committee), most commonly the CEO or the CFO. In the meetings, the EC give information on group performance and any future group developments, while also giving the employees the opportunity to ask any questions they may have.

Engagement with suppliers, customers and others

The group receives and carefully evaluates feedback collected through various customer engagement programs. This feedback helps the group decide on future product developments.
To best support our employees and customers, the group believes the suppliers should be a representative of the group and should adhere to our values. 

Disabled employees

It is the group's policy to support the employment of disabled persons wherever possible, both through recruitment and through retention of those who have become disabled whilst in the employment of the group.

Qualifying third party indemnity provisions

The group maintains insurance for the Directors in respect of their duties as Directors of the group, including qualified third party indemnity. This was in force during the period ended 31 January 2024 and up to the date of signing the financial statements.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Group's greenhouse gas emissions and energy consumption data for the group in 2024 are estimated as follows: 


kWh
2024
£000

Energy consumed from activities for which the Group is responsible involving the combustion of gas, or the consumption of fuel for the purposes of transport, and the annual quantity of energy consumed resulting from the purchase of electricity by the Group for its own use, including for the purposes of transport, in kWh
405,000
116

The above details are presented based upon data for the year collected for the group's administrative sites in London and York.

The total greenhouse emissions based on the above is roughly 155 tonnes Co2 equivalent. Emissions per employee equates 0.29 tonnes Co2 equivalent (777 kW per employee).

Page 5


 
ANAPLAN UK HOLDINGS LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

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 and the Group'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 and the Group's auditors are aware of that information.

Post balance sheet events

On May 9, 2024, Anaplan Canada CallCo, Inc (Canada), a subsidiary of Anaplan UK Holdings Limited formed entirely for the purpose of acquiring Fluence Technologies Inc ("Fluence Technologies"), closed the acquisition of Fluence Technologies, a leading cloud native solution leveraged by enterprises across the globe for financial close, consolidation, disclosure management and reporting, where 100% of the equity interests were acquired.

Auditors

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

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





................................................
D J Moriarty
Director

Date: 6 September 2024

Page 6


 
ANAPLAN UK HOLDINGS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK HOLDINGS LIMITED

Opinion


We have audited the financial statements of Anaplan UK Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the period ended 31 January 2024, which comprise the Group Statement of Comprehensive Income, the Group and Company Balance Sheets, the Group Statement of Cash Flows, the Group and Company 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 Group's and of the parent Company's affairs as at 31 January 2024 and of the Group's profit for the period 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 Group 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 Group's or the parent 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 7


 
ANAPLAN UK HOLDINGS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK HOLDINGS 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 Report.  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. 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 Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have 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 Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or 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 by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company 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.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 4, 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 Group's and the parent 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 Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 8


 
ANAPLAN UK HOLDINGS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK HOLDINGS 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 Group 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 9


 
ANAPLAN UK HOLDINGS LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANAPLAN UK HOLDINGS 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: 
6 September 2024
Page 10


 
ANAPLAN UK HOLDINGS LIMITED
 

 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 JANUARY 2024

2024
Note
£000

  

Turnover
 4 
304,905

Cost of sales
  
(25,394)

Gross profit
  
279,511

Distribution costs
  
(39,338)

Administrative expenses
  
(56,393)

Other operating charges
  
(161,692)

Operating profit
 5 
22,088

Interest receivable and similar income
 9 
1,696

Interest payable and similar expenses
 10 
(25,708)

Loss before taxation
  
(1,924)

Tax on loss
 11 
55,884

Profit for the financial period
  
53,960

Other comprehensive income for the period
  

Currency translation differences
  
3,091

Total comprehensive income for the period
  
57,051

Profit for the period attributable to:
  

Owners of the parent Company
  
53,960

Total comprehensive income for the period attributable to:
  

Owners of the parent Company
  
57,051

There were no recognised gains and losses for 2024 other than those included in the consolidated statement of comprehensive income.

The notes on pages 18 to 41 form part of these financial statements.

Page 11


 
ANAPLAN UK HOLDINGS LIMITED
REGISTERED NUMBER:14531688


CONSOLIDATED BALANCE SHEET
AS AT 31 JANUARY 2024

2024
Note
£000

Fixed assets
  

Intangible assets
 12 
41,582

Tangible assets
 13 
1,032

  
42,614

Current assets
  

Debtors: amounts falling due after more than one year
 15 
57,688

Debtors: amounts falling due within one year
 15 
116,733

Cash at bank and in hand
 16 
89,229

  
263,650

Creditors: amounts falling due within one year
 17 
(565,009)

Net current liabilities
  
 
 
(301,359)

Net liabilities
  
(258,745)


Capital and reserves
  

Called up share capital 
 20 
-

Share premium account
 21 
839,654

Foreign exchange reserve
 21 
3,091

Merger reserve
 21 
(1,155,450)

Profit and loss account
 21 
53,960

Equity attributable to owners of the parent Company
  
(258,745)


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




................................................
D J Moriarty
Director

Date: 6 September 2024

The notes on pages 18 to 41 form part of these financial statements.

Page 12


 
ANAPLAN UK HOLDINGS LIMITED
REGISTERED NUMBER:14531688


COMPANY BALANCE SHEET
AS AT 31 JANUARY 2024

2024
Note
£000

Fixed assets
  

Investments
 14 
1,120,011

  
1,120,011

  

Creditors: amounts falling due within one year
 17 
(302,978)

Net current (liabilities)/assets
  
 
 
(302,978)

Total assets less current liabilities
  
817,033

  

  

Net assets
  
817,033


Capital and reserves
  

Called up share capital 
 20 
-

Share premium account
 21 
839,654

Foreign exchange reserve
 21 
3,091

Profit and loss account
 21 
(25,712)

  
817,033


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


................................................
D J Moriarty
Director

Date: 6 September 2024

The notes on pages 18 to 41 form part of these financial statements.

Page 13


 
ANAPLAN UK HOLDINGS LIMITED
 


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2024


Called up share capital
Share premium account
Foreign exchange reserve
Merger reserve
Profit and loss account
Total equity

£000
£000
£000
£000
£000
£000

At 9 December 2022
-
-
-
-
-
-


Comprehensive income for the period

Profit for the period
-
-
-
-
53,960
53,960

Currency translation differences
-
-
3,091
-
-
3,091

Shares issued during the period
-
839,654
-
-
-
839,654

Group reconstruction
(see note 22)
-
-
-
(1,155,450)
-
(1,155,450)


At 31 January 2024
-
839,654
3,091
(1,155,450)
53,960
(258,745)

The notes on pages 18 to 41 form part of these financial statements.

Page 14


 
ANAPLAN UK HOLDINGS LIMITED
 


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2024


Called up share capital
Share premium account
Foreign exchange reserve
Profit and loss account
Total equity

£000
£000
£000
£000
£000

At 9 December 2022
-
-
-
-
-


Comprehensive income for the period

Loss for the period
-
-
-
(25,712)
(25,712)

Currency translation differences
-
-
3,091
-
3,091

Shares issued during the period
-
839,654
-
-
839,654


At 31 January 2024
-
839,654
3,091
(25,712)
817,033

The notes on pages 18 to 41 form part of these financial statements.

Page 15


 
ANAPLAN UK HOLDINGS LIMITED
 


CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 JANUARY 2024

2024
£000

Cash flows from operating activities

Profit for the financial period
53,960

Adjustments for:

Amortisation of intangible assets
11,253

Depreciation of tangible assets
722

Loss on disposal of tangible assets
18

Interest paid
25,708

Interest received
(1,696)

Taxation charge
(55,884)

Increase in debtors
(112,897)

Increase in amounts owed by groups
(3,616)

Increase in creditors
218,079

Increase in amounts owed to groups
346,880

Corporation tax paid
(1,974)

Merger acquisition
(1,155,450)

Foreign exchange
3,091

Net cash generated from operating activities

(671,806)


Cash flows from investing activities

Purchase of intangible fixed assets
(52,835)

Purchase of tangible fixed assets
(1,773)

Sale of tangible fixed assets
1

Interest received
1,696

Net cash from investing activities

(52,911)

Cash flows from financing activities

Issue of ordinary shares
839,654

Interest paid
(25,708)

Net cash used in financing activities
813,946

Net increase in cash and cash equivalents
89,229

Cash and cash equivalents at the end of period
89,229


Cash and cash equivalents at the end of period comprise:

Cash at bank and in hand
89,229


Page 16


 
ANAPLAN UK HOLDINGS LIMITED
 


CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 JANUARY 2024



Cash flows
At 31 January 2024
£000

£000

Cash at bank and in hand

89,229

89,229


89,229
89,229

The notes on pages 18 to 41 form part of these financial statements.

Page 17


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Anaplan UK Holdings Limited is a limited liability company incorporated in England. The group's registered office is Regent's Place, 15th and 16th floors, 338 Euston Road, London, NW1 3BT.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
On 1 May 2023 Anaplan UK Holdings Limited acquired 100% of the share capital of Anaplan Limited from its parent company, Anaplan Inc. This has been accounted for as a merger in accordance with FRS 102 as applied at that time.

Page 18


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

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 Group with regards to revenue, cost of sales, expenses and forward cash.
During the period ended 31 January 2024 the group reported a loss before taxation of £1,924,000 which contributed towards a balance sheet deficit of £258,745,000 at the period end.
During the year the group continued to invest heavily in the product and the infrastructure in order to lay the groundwork for future sustainable revenue growth. The group expects to continue to be profitable while maintaining strong cash reserves.
At the balance sheet date the group had net liabilities of £258,745,000. Included within net liabilities are amounts owed to the parent company and fellow subsidiary undertakings totalling £346,880,000. The parent company has provided the group with an undertaking that they will, for at least twelve months from the date of approval of these financial statements, continue to make available such funds that are needed by the group and in particular will not seek repayment of the amounts currently made available whilst the company strengthens its own financial position.
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 group will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the group's financial statements.

Page 19


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional currency is USD. This differs from the presentational currency which is GBP. The reason for the difference is that the comapny's subsidiary undertakings, that are material to the group, functional currency are 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 Consolidated 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'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 20


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group 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

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

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.

 
2.8

Interest income

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

 
2.9

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.

Page 21


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the period 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 balance sheet date in the countries where the Company and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

Page 22


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

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:

Leasehold improvements
-
5 - 10 years
Office equipment
-
3 years
Computer equipment
-
3 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.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 23


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.17

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.

 
2.18

Financial instruments

The Group 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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. 
Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that year or in the year of revision and future years if the revision affects both current and future years.

Page 24


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
£000

Subscription revenue
301,086

Professional services
3,819

304,905


Analysis of turnover by country of destination:

2024
£000

United Kingdom
71,434

Rest of Europe
124,211

Rest of the world
109,260

304,905



5.


Operating profit

The operating profit is stated after charging:

2024
£000

Depreciation of tangible fixed assets
722

Amortisation of intangible assets
11,253

Research & development charged as an expense
7,965

Exchange differences
3,505

Other operating lease rentals
1,135

Page 25


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

6.


Auditors' remuneration

During the period, the Group obtained the following services from the Company's auditors and their associates:


2024
£000

Fees payable to the Company's auditors and their associates for the audit of the consolidated and parent Company's financial statements
15

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

Taxation compliance services
5

All non-audit services not included above
7


7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
2024
£000


Wages and salaries
80,110

Social security costs
7,383

Cost of defined contribution scheme
3,463

90,956


The average monthly number of employees, including the directors, during the period was as follows:



Group
Company
        2024
        2024
            No.
            No.







Staff
521
3

Page 26


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

8.


Directors' remuneration

2024
£000

Directors' emoluments
141

Group contributions to defined contribution pension schemes
7

148


During the period retirement benefits were accruing to 1 director in respect of defined contribution pension schemes.


9.


Interest receivable

2024
£000


Other interest receivable
1,696


10.


Interest payable and similar expenses

2024
£000


Loans from group undertakings
25,707

Other interest payable
1

25,708

Page 27


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

11.


Taxation


2024
£000

Corporation tax


Current tax on profits for the year
3,145

Adjustments in respect of previous periods
(1,620)


1,525

Foreign tax


Foreign tax on income for the year
279

Total current tax
1,804

Deferred tax


Origination and reversal of timing differences
(57,688)

Total deferred tax
(57,688)


Taxation on loss on ordinary activities
(55,884)
Page 28


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
 
11.Taxation (continued)


Factors affecting tax charge for the period

The tax assessed for the period is higher than the standard rate of corporation tax in the UK of 24%. The differences are explained below:

2024
£000


Loss on ordinary activities before tax
(1,923)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 24%
(462)

Effects of:


Non-tax deductible amortisation of goodwill and impairment
681

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,228

Capital allowances for period in excess of depreciation
117

Utilisation of tax losses
(4,087)

Adjustments to tax charge in respect of prior periods
(1,620)

Short-term timing difference leading to an increase in taxation
586

Adjustment in research and development tax credit leading to an decrease in the tax charge
(260)

Unrelieved tax losses carried forward
5

Unrelieved foreign tax
279

Other differences leading to an increase in the tax charge
42

Corporate interest restriction
5,295

Deferred tax movement
(57,688)

Total tax charge for the period
(55,884)


Factors that may affect future tax charges

The company has tax losses of approximately £234,500,000 which are available to carry forward and offset against future trading profits. The deferred tax asset of £58,626,948 which arises as a consequence of these losses has been recognised within the company's balance sheet (see notes 15 and 19) as the company expects to be able to utilise these losses in the short to medium term.

Page 29


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

12.


Intangible assets

Group and Company




Development expenditure
Goodwill
Total

£000
£000
£000



Cost


Additions
-
25,404
25,404


Additions - internal
27,431
-
27,431



At 31 January 2024

27,431
25,404
52,835



Amortisation


Charge for the period on owned assets
8,419
2,834
11,253



At 31 January 2024

8,419
2,834
11,253



Net book value



At 31 January 2024
19,012
22,570
41,582

Development expenditure represents costs incurred on software development projects which are considered to be commercially viable. Amortisation is being provided over the estimated useful economic life which is considered to be 3 years.
Goodwill arises on the business combination of Anaplan UK Group Limited and its group of subsidiary undertakings. Given the long term nature of the investments, goodwill is being amortised over a ten year period.
Development expenditure and Goodwill is reviewed annually for impairment and the review at 31 January 2024 indicated that no impairment provision was required.



Page 30


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

13.


Tangible fixed assets

Group






Leasehold improvements
Office equipment
Computer equipment
Total

£000
£000
£000
£000



Cost or valuation


Additions
1,507
218
48
1,773


Disposals
-
(61)
(24)
(85)



At 31 January 2024

1,507
157
24
1,688



Depreciation


Charge for the period on owned assets
551
149
22
722


Disposals
-
(61)
(5)
(66)



At 31 January 2024

551
88
17
656



Net book value



At 31 January 2024
956
69
7
1,032


14.


Fixed asset investments

Company





Investments in subsidiary companies

£000



Cost or valuation


Additions
1,120,011



At 31 January 2024
1,120,011




Page 31


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

Direct subsidiary undertakings


The following were direct subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Anaplan Limited
England & Wales
Ordinary
100%
Anaplan UK Group Limited
Engalnd & Wales
Ordinary
100%
Anaplan Denmark ApS
Denmark
Ordinary
100%

The aggregate of the share capital and reserves as at 31 January 2024 and the profit or loss for the period ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£000
£000

Anaplan Limited
21,911
82,370

Anaplan UK Group Limited
1,709
(2)

Anaplan Denmark ApS

41
35


Indirect subsidiary undertakings


The following were indirect subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Anaplan UK Developments Limited
England & Wales
Ordinary
100%
Anaplan UK Applications Limited
England & Wales
Ordinary
100%

The aggregate of the share capital and reserves as at 31 January 2024 and the profit or loss for the period ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£000
£000

Anaplan UK Developments Limited
(1,973)
296

Anaplan UK Applications Limited

(23)
(14)

Page 32


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

15.


Debtors

Group
Company
2024
2024
£000
£000

Due after more than one year

Deferred tax asset
57,688
-


Group
Company
2024
2024
£000
£000

Due within one year

Trade debtors
95,249
-

Amounts owed by group undertakings
3,616
-

Other debtors
16,374
-

Prepayments and accrued income
1,494
-

116,733
-



16.


Cash and cash equivalents

Group
Company
2024
2024
£000
£000

Cash at bank and in hand
89,229
-



17.


Creditors: Amounts falling due within one year

Group
Company
2024
2024
£000
£000

Trade creditors
987
-

Amounts owed to group undertakings
346,880
302,978

Corporation tax
50
-

Other taxation and social security
2,518
-

Other creditors
6,635
-

Accruals and deferred income
207,939
-

565,009
302,978


Page 33


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

18.


Financial instruments

Group
2024
£000

Financial assets

Financial assets measured at fair value through profit or loss
89,229

Financial assets that are debt instruments measured at amortised cost
115,239

204,468


Financial liabilities

Financial liabilities measured at amortised cost
564,959


Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.


Financial assets that are debt instruments measured at amortised cost comprise trade debtors, amounts owed by group undertakings and other debtors.


Financial liabilities measured at amortised cost comprise trade creditors, amounts owed to group undertakings, other taxation and social security, other creditors, and accruals and deferred income.


19.


Deferred taxation


Group



2024


£000






Charged to profit or loss
57,688



At end of year
57,688

Company


2024
£000





Charged to profit or loss
-



At end of year
-
Page 34


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
 
19.Deferred taxation (continued)




Group
Company
2024
2024
£000
£000

Accelerated capital allowances
(1,078)
-

Tax losses carried forward
58,627
-

Other short term timing differences
139
-

57,688
-


20.


Share capital

2024
£000
Allotted, called up and fully paid


301 Ordinary shares of $1.00 each
-

Upon incorporation, 100 ordinary shares were issued with a nominal value of $1 each.
On 19 December 2022, 100 ordinary shares were issued with a nominal value of $1 each at a premium of $25,378,400.
On 19 December 2022, 100 ordinary shares were issued with a nominal value of $1 each at a premium of $2,621,400.
On 1 May 2023, 1 ordinary share was issued with a nominal value of $1 at a premium of $1,026,457,999.


Page 35


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

21.


Reserves

Share premium account

The share premium account represents the difference between the price paid for and the nominal value of shares issued, net of the cost of each share issue.

Foreign exchange reserve

The foreign exchange reserve represents unrealised gains and losses on translation of the transactions and balances from the functional currency of the company in USD to its presentational currency in GBP.

Merger Reserve

The Group recognises a merger reserve which arose on the business combination of Anaplan Limited that was accounted for as a merger in accordance with FRS 102 as applied at that time (see note 22).

Profit and loss account

The profit and loss account represents accumulated post-tax profits.

Page 36


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

22.
 

Business combinations

On 19 December 2022, Anaplan UK Holdings Limited acquired 100% of the share capital of Vuealta Group Limited, which also owned 100% of the share capital of Vuealta Developments Limited and Vuealta Applications Limited. 

Acquisition of Vuealta Group Limited and its subsidiary undertakings

Recognised amounts of identifiable assets acquired and liabilities assumed

Fair value
£000

Fixed Assets

Tangible
20

20

Current Assets

Debtors
158

Total Assets
178

Creditors

Due within one year
(568)

Total Identifiable net liabilities
(390)


Goodwill
25,404

Total purchase consideration
25,014

Consideration

£000


Cash
20,917

Rollover Equity
2,161

Directly attributable costs
1,936

Total purchase consideration
25,014





Page 37


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

22.Business combinations (continued)

Goodwill

The goodwill arising on acquisition is attributable to the business combination of Vuealta Group Limited and its group of subsidiary undertakings. Given the long term nature of the investments, goodwill is being amortised over a ten year period.

Group reconstruction

On 1 May 2023 Anaplan UK Holdings Limited acquired 100% of the share capital of Anaplan Limited from its parent company, Anaplan Inc. This has been accounted for as a merger in accordance with FRS 102 as applied at that time.


23.


Pension commitments

The group operates a defined pension scheme for all qualifying employees and directors. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £3,449,736. Contributions totaling £556,107 were payable to the fund at the balance sheet date and are included in creditors. 


24.


Commitments under operating leases

At 31 January 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
2024
£000

Not later than 1 year
1,179,732

Later than 1 year and not later than 5 years
1,195,398

2,375,130
Page 38


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

25.


Related party transactions

Material balances and transactions with related parties arising during the period were as follows:

Balances with related parties

2024
£000

Included in Debtors
Anaplan Belgium
1,194
Anaplan Israel Ltd
55
Anaplan Malaysia Sdn. Bhd.
146
Anaplan Nederland BV
1,645
Anaplan Switzerland GmbH
573
Anaplan Italy S.R.L
3
3,616

2024
      £000
Included in Creditors

Anaplan Inc.

333,280

Anaplan Asia Pte Ltd

1,994

Anaplan Austrailia Pty Ltd

1,210

Anaplan Central and Eastern Europe GmbH

174

Anaplan France SAS

7,732

Anaplan Germany GmbH

832

Anaplan India Pvt Ltd

262

Anaplan Japan KK

483

Anaplan Nordic AB

723

Anaplan Philippines Inc.

143

Anaplan Software Canada Inc.

22

PT Anaplan Services Indonesia

25


346,880



.


Transactions with related parties

The Parent Company
Ananplan UK Holdings Limited is a wholly owned subsidiary of Anaplan Inc. Anaplan Inc charges headquarter costs and management costs to Anaplan Limited, a subsidiary undertaking of Anaplan UK Holdings Limited. Anaplan Inc transfers non-Americas subscription revenue to Anaplan Limited.
 

Page 39


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
 
2024
      £000
Income

Subscription services and intercompany income

5,863




2024
      £000
Expenditure

Cost sharing expenses

66,917

Interest

26,209


93,126


Other entities under common control of the Parent Company with Anaplan Limited
The following companies are wholly owned subsidiaries of Anaplan Inc. These companies provide sales and marketing support services to Anaplan Limited and implementation services to Anaplan Limited's subscription customers.
These companies are reimbursed by Anaplan Limited at 100% of their costs plus a percentage of Anaplan Limited's subscription revenue relating to customers in the relevant countries.

2024
      £000
Expenditure - Sales and marketing services

Anaplan Asia Pte Ltd

13,496

Anaplan Austrailia Pty Ltd

8,352

Anaplan Belgium

3,074

Anaplan Central and Eastern Europe GmbH

1,405

Anaplan France SAS

28,004

Anaplan Germany GmbH

9,655

Anaplan India Pvt Ltd

3,943

Anaplan Israel Ltd

371

Anaplan Japan KK

11,057

Anaplan Malaysia Sdn. Bhd.

380

Anaplan Nederland BV

8,121

Anaplan Nordic AB

3,411

Anaplan Philippines Inc

2,093

Anaplan Switzerland GmbH

2,522

PT Anaplan Services Indonesia

25


95,909


Page 40


 
ANAPLAN UK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

26.


Post balance sheet events

On May 9, 2024, Anaplan Canada CallCo, Inc (Canada), a subsidiary of Anaplan UK Holdings Limited formed entirely for the purpose of acquiring Fluence Technologies Inc ("Fluence Technologies"), closed the acquisition of Fluence Technologies, a leading cloud native solution leveraged by enterprises across the globe for financial close, consolidation, disclosure management and reporting, where 100% of the equity interests were acquired.


27.


Controlling party

The parent company of Anaplan UK Holdings Limited is Anaplan Inc, a company registered in the USA. The registered office of the parent company is 1450 Brickell Ave, Suite #3040, Miami, Fl, 33131.
The ultimate parent undertaking and controlling party of Anaplan UK Holdings Limited is Project Alpine Co-invest Fund, L.P.
The smallest and largest group into which these financial statements are consolidated are that of the parent company. The consolidated group accounts are not publicly available.

Page 41