Company registration number 08703791 (England and Wales)
CATALOGIC SOFTWARE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CATALOGIC SOFTWARE LIMITED
COMPANY INFORMATION
Directors
Mr K P Barth
Mr J H Gellert
Company number
08703791
Registered office
5 Technology Park
Colindeep Lane
London
United Kingdom
NW9 6BX
Auditor
Grunberg & Co Ltd
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
CATALOGIC SOFTWARE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
CATALOGIC SOFTWARE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
67,367
53,308
Cash at bank and in hand
54,683
9,719
122,050
63,027
Creditors: amounts falling due within one year
5
(2,133,609)
(2,026,117)
Net current liabilities
(2,011,559)
(1,963,090)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(2,011,560)
(1,963,091)
Total equity
(2,011,559)
(1,963,090)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
Mr K P Barth
Director
Company registration number 08703791 (England and Wales)
CATALOGIC SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Catalogic Software Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, United Kingdom, NW9 6BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are confident that the company has adequate resources to continue as a going concern on thetrue premise that the parent company, Catalogic Software Inc., will continue to provide financial support for a period of no less than 12 months from the date of signing these financial statements.

1.3
Turnover

The company derives its income from the marketing of computer products and the provision of maintenance service contracts. The revenue from the sales of computer products is recognised in the month of sale on the basis that no further services nor costs incurred are required to be performed once the software licence has been sold.

 

Maintenance service contract revenue that is sold separately from the software licenses is recognised over the term of the contract. For multi-element term licenses that include software licenses and maintenance services, revenue is recognised on the software licence element in the month of sale on the basis that no further services nor costs incurred are required to be performed once the software license has been sold. The maintenance service element of the contract is recognised over the term of the agreement.

 

Turnover is stated exclusive of value added tax and trade discounts.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CATALOGIC SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

CATALOGIC SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Foreign exchange

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Key accounting judgements

No material judgements were made by management in the preparation of these financial statements.

 

Key accounting estimates

Deferred income

This requires no subjectivity and is made up of license and maintenance revenue which are spread evenly over the duration of the contract.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
4
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
10,157
Other debtors
135
720
Prepayments and accrued income
67,232
42,431
67,367
53,308
CATALOGIC SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,070
-
0
Amounts owed to group undertakings
1,965,852
1,881,108
Taxation and social security
1,335
763
Other creditors
-
0
2,508
Accruals and deferred income
155,352
141,738
2,133,609
2,026,117
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Herman Hang ACCA
Statutory Auditor:
Grunberg & Co Ltd
Date of audit report:
24 September 2024
7
Related party transactions

During the year, there were no other key management personnel apart from the directors.

8
Parent company

The ultimate parent company is Catalogic Software Inc, a company registered in New Jersey, United States of America.

 

The directors are of the opinion that there is no ultimate controlling party.

2023-12-312023-01-01false24 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr K P BarthMr J H Gellertfalsefalse087037912023-01-012023-12-3108703791bus:Director12023-01-012023-12-3108703791bus:Director22023-01-012023-12-3108703791bus:RegisteredOffice2023-01-012023-12-31087037912023-12-31087037912022-12-3108703791core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108703791core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3108703791core:CurrentFinancialInstruments2023-12-3108703791core:CurrentFinancialInstruments2022-12-3108703791core:ShareCapital2023-12-3108703791core:ShareCapital2022-12-3108703791core:RetainedEarningsAccumulatedLosses2023-12-3108703791core:RetainedEarningsAccumulatedLosses2022-12-31087037912022-01-012022-12-3108703791bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108703791bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108703791bus:FRS1022023-01-012023-12-3108703791bus:Audited2023-01-012023-12-3108703791bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP