Thomson Information & Solutions (Holdings) Limited 04066194 true 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is As used in this annual report, “the Group” and “Thomson Reuters” refer to the Thomson Reuters Corporation and its subsidiary undertakings, including joint ventures and associates. “The Company” refers to Thomson Information & Solutions (Holdings) Limited. ONESOURCE Accounts Production 6.31.9627.0 0 false true 04066194 2023-01-01 2023-12-31 04066194 2023-12-31 04066194 core:RetainedEarningsAccumulatedLosses 2023-12-31 04066194 core:ShareCapital 2023-12-31 04066194 core:SharePremium 2023-12-31 04066194 core:CurrentFinancialInstruments 2023-12-31 04066194 core:CostValuation 2023-12-31 04066194 bus:FRS101 2023-01-01 2023-12-31 04066194 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04066194 bus:FullAccounts 2023-01-01 2023-12-31 04066194 bus:RegisteredOffice 2023-01-01 2023-12-31 04066194 bus:Director1 2023-01-01 2023-12-31 04066194 bus:Director2 2023-01-01 2023-12-31 04066194 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04066194 1 2023-01-01 2023-12-31 04066194 core:Subsidiary1 2023-01-01 2023-12-31 04066194 core:Subsidiary1 1 2023-01-01 2023-12-31 04066194 core:Subsidiary2 2023-01-01 2023-12-31 04066194 core:Subsidiary2 1 2023-01-01 2023-12-31 04066194 core:UKTax 2023-01-01 2023-12-31 04066194 countries:Canada 2023-01-01 2023-12-31 04066194 countries:UnitedKingdom 2023-01-01 2023-12-31 04066194 2022-12-31 04066194 core:CostValuation 2022-12-31 04066194 2022-01-01 2022-12-31 04066194 2022-12-31 04066194 core:RetainedEarningsAccumulatedLosses 2022-12-31 04066194 core:ShareCapital 2022-12-31 04066194 core:SharePremium 2022-12-31 04066194 core:CurrentFinancialInstruments 2022-12-31 04066194 1 2022-01-01 2022-12-31 04066194 core:Subsidiary1 1 2022-01-01 2022-12-31 04066194 core:Subsidiary2 1 2022-01-01 2022-12-31 04066194 core:UKTax 2022-01-01 2022-12-31 xbrli:pure iso4217:GBP

Registration number: 04066194

Thomson Information & Solutions (Holdings) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Thomson Information & Solutions (Holdings) Limited

Contents

Page(s)

Directors' Report

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Thomson Information & Solutions (Holdings) Limited

Directors' Report for the Year Ended 31 December 2023

The Directors present their report and financial statements for the year ended 31 December 2023.

Directors of the Company

The Directors, who held office during the year, were as follows:

K. Major

B.A. Boateng

Approved by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
B.A. Boateng
Director

 

Thomson Information & Solutions (Holdings) Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Interest receivable and similar income

3

-

33,859,128

Gain on sale of shares in group undertaking

-

1

Profit before taxation

 

-

33,859,129

Tax on profit

4

-

-

Profit for the financial year

 

-

33,859,129

 

Thomson Information & Solutions (Holdings) Limited

(Registration number: 04066194)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 December
2022
£

Fixed assets

 

Investments

5

465,000,002

465,000,002

Current assets

 

Trade and other debtors

6

559,848,380

559,848,380

Net assets

 

1,024,848,382

1,024,848,382

Capital and reserves

 

Called up share capital

7

600,000,003

600,000,003

Share premium reserve

 

905,507,113

905,507,113

Retained earnings

 

(480,658,734)

(480,658,734)

Shareholders' funds

 

1,024,848,382

1,024,848,382

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
B.A. Boateng
Director

 

Thomson Information & Solutions (Holdings) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated and domiciled in United Kingdom.

The address of its registered office is:
Five Canada Square
Canary Wharf
London
E14 5AQ
United Kingdom

The principal activity of the Company is to act as a holding Company.
 

2

Accounting policies

Basis of preparation

These financial statements are prepared in accordance with the Financial Reporting Standard 101, ‘Reduced Disclosure Framework’ (FRS 101) and the Companies Act 2006.

In preparing these financial statements, the Company applies the recognition, measurement and disclosure requirements of International Financial Reporting Standards as adopted by the UK (UK-adopted international accounting standards), but makes amendments where necessary in order to comply with the Companies Act 2006 and to take advantage of FRS 101 disclosure exemptions.
 

Trading status
The company has not traded during the year, has incurred no liabililies and consequently, has made neither profit or loss. None of the Directors received any emoluments in respect of their services to the Company.

Fixed asset investments

The Company holds investments in other companies. These are recognised as fixed asset investments and are stated at historical cost less provision for any dimunition in value.
 

3

Interest receivable and similar income

2023
£

2022
£

Income from financial assets

-

33,859,128

 

Thomson Information & Solutions (Holdings) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tax on profit

Tax credited in the income statement

2023
£

2022
£

Current tax

UK corporation tax

-

-

Total current income tax

-

-

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2022 - lower than the standard rate of corporation tax in the UK) of 23.52% (2022: 19%).

The differences are reconciled below:

2023
£

2022
£

Profit before tax

-

33,859,129

Corporation tax at standard rate

-

6,433,235

Increase from effect of revenues exempt from taxation

-

(6,433,235)

Total tax charge/(credit)

-

-

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the balance sheet date.

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would increase from 19% to 25%. This rate increase was substantively enacted on 24 May 2021. For the financial year ended 31 December 2023, the current weighted averaged tax rate was 23.5%. Deferred taxes at the balance sheet date have been measured using this enacted tax rate and reflected in these financial statements.

 

Thomson Information & Solutions (Holdings) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

5

Investments

Subsidiaries

£

Cost or valuation

At 1 January 2023

465,000,002

At 31 December 2023

465,000,002

At 31 December 2022

465,000,002

The Directors are of the opinion that the value of the Company's investments is not less than the value of which it is stated in the Balance sheet as at 31 December 2023.

Details of undertakings

Details of the investments in which the Company holds direct and indirect investment in any class of share capital are as follows:

Name of subsidiary
 

Principal activity
 

Registered office
 

 

Proportion of ownership interest and voting rights held
2023

2022

Primark Information Services U.K. Limited*

Dormant

Five Canada Square Wharf, London E14 AQ, United Kingdom

100%

100%

Thomson Information & Solutions Limited

Holding Company

Five Canada Square Wharf, London E14 AQ, United Kingdom

100%

100%

* indicates direct investment of the Company

 

Thomson Information & Solutions (Holdings) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

6

Debtors: amounts falling due within one year

31 December
2023
£

31 December
2022
£

Amount owed by group undertakings

559,848,380

559,848,380

Debtor balance only consists of oustanding interest on preference shares due from a fellow group undertaking.

7

Called up share capital

Allotted, called up and fully paid shares

 

31 December
2023


 
31 December
2022

 

No.

£

No.

£

Ordinary Shares of £1 (2022 - £1) each

600,000,003

600,000,003

600,000,003

600,000,003

         

8

Parent and ultimate parent undertaking

The Company's immediate parent is Thomson Publishing Investment Limited.

The ultimate parent is Thomson Investments Limited.

The most senior parent entity producing publicly available financial statements is Thomson Reuters Corporation. These financial statements are available upon request from Five Canada Square, Canary Wharf, London, E14 5AQ, and online at www.thomsonreuters.com.

The ultimate controlling party is Thomson Investments Limited.

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Thomson Reuters Corporation, incorporated in Canada.

The address of Thomson Reuters Corporation is:
19 Duncan Street, Toronto, Ontario M5H 3G6, Canada.