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REGISTERED NUMBER: 04157081 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMMERCE DECISIONS LIMITED

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 9

Balance Sheet 10

Notes to the Financial Statements 11


COMMERCE DECISIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr J Bender
Mr T Richardson





SECRETARY: Mr J A Evans





REGISTERED OFFICE: 101b Park Drive
Milton Park
Abingdon
Oxfordshire
OX14 4RY





REGISTERED NUMBER: 04157081 (England and Wales)





AUDITORS: Kings CAP Ltd
Statutory Auditor
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

STRATEGIC REPORT
for the Year Ended 31 December 2023

The Director presents his report and the audited financial statements for the year ended 31 December 2023.

Commerce Decisions Limited ('the Company') is a private company limited by shares and is incorporated, registered and domiciled in the United Kingdom and the registered number is 04157081. The address of the registered office is 101b Park Drive, Milton Park, Abingdon, Oxfordshire, England, OX14 4RY.

REVIEW OF BUSINESS
The company's principal activity is that of providing software and related consultancy.

The profit before taxation was £2,077,918 (2022: £2,146,545) and net assets were £2,472,766 (2022: £2,396,806). Turnover achieved in the year amounted to £16,673,855 (2022: £12,604,941).

PRINCIPAL RISKS AND UNCERTAINTIES
The key risks and uncertainties impacting on the Company relate to the following:

> Reduced spending in the core markets in which the Company operates. To monitor this risk, the Company proactively engages with our customers to allow us to support our customers with their efficiency challenges as well as ensuring that we provide the right services as the threat environment continues to evolve.

> Failure to create a culture of innovation, develop relevant·technology and business models or to attract and retain the right talent, to enable the realisation of new ideas for our customers and our organisation. To manage this risk we continue to mature our innovation approach, including clear articulation across the organisation and initiatives are supported.

> A breach of physical or data security, cyber attacks or IT systems failure could have an adverse impact on our customers' operations. Information systems are designed with consideration of single point of failure and comply with relevant accreditation standards. Mandatory security awareness training for all staff also mitigates this risk.

> The Company operates in highly regulated environments and recognises that its operations have the potential to have an impact on a variety of stakeholders. The Company's robust policies, procedures and mandatory training define clear expectations for the Company and its employees. Key areas of focus include safety of products and services, health, safety and environment, international trade controls, bribery and ethics, where the Company adopts a zero tolerance approach to bribery and corruption.

ON BEHALF OF THE BOARD:





Mr J Bender - Director


30 September 2024

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of providing software and related consultancy.

DIVIDENDS
Total dividends paid during the year amount to £1,500,000.

FUTURE DEVELOPMENTS
The Company expects to continue operating with its principal activity as outlined in the Strategic Report for the foreseeable future.

DIRECTORS
Mr J Bender has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr T Richardson - appointed 21 December 2023

DONATIONS
The Company made charitable contributions during the year of £1,000 (2022: £nil).

FINANCIAL RISK MANAGEMENT
The Company is exposed to a variety of financial risks as a result of its operations that include the effects of changes in foreign exchange risk, interest rate risk, credit risk and liquidity risk.

Credit risk
Credit risk is the risk of financial loss to the Company if a customer fails to meet its contractual obligations. To mitigate this risk the Company performs credit checks as appropriate and only contracts with customers who meet certain creditworthiness requirements.

Liquidity risk
The Company retains sufficient cash to ensure it has available funds for its operations. The cash reserves and working capital requirements are monitored continuously.

Price risk
Price risk is managed by continual review of commercial prices and review of competitors. Furthermore price risk is assessed and future price risk mitigated on negotiation of contracts with customers.

Cash flow risk
The company successfully mitigates its cash flow risk by being part of the wider Constellation group which, along with third party revenues, mitigates any seasonal cash flow risks.

The Directors will revisit the appropriateness of this approach to risk management should the Company's operations change in size or nature.

EMPLOYEES
The Company is committed to the fair treatment of people with disabilities in relation to job applications, training, promotion and career development. If an existing employee becomes disabled, we make every effort to enable them to continue their employment and career development, and to arrange appropriate training, wherever practical.


COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

AUDITORS
The auditors, Kings CAP Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J Bender - Director


30 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMMERCE DECISIONS LIMITED

Opinion
We have audited the financial statements of Commerce Decisions Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMMERCE DECISIONS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMMERCE DECISIONS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was to ensure the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by way of
discussions with the directors and from our commercial knowledge and experience in the technology sector. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and health and safety legislation.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators, and the company's external advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMMERCE DECISIONS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Sara Brown (Senior Statutory Auditor)
for and on behalf of Kings CAP Ltd
Statutory Auditor
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

30 October 2024

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

STATEMENT OF INCOME AND
RETAINED EARNINGS
for the Year Ended 31 December 2023

Period
1.4.22
Year Ended to
31.12.23 31.12.22
Notes £    £   

TURNOVER 3 16,673,855 12,604,941

Cost of sales 530,357 153,137
GROSS PROFIT 16,143,498 12,451,804

Administrative expenses 14,168,828 10,263,550
1,974,670 2,188,254

Other operating income 101,270 -
OPERATING PROFIT 2,075,940 2,188,254

Interest receivable and similar income 1,978 -
2,077,918 2,188,254

Interest payable and similar expenses 5 - 41,709
PROFIT BEFORE TAXATION 6 2,077,918 2,146,545

Tax on profit 8 567,178 412,204
PROFIT FOR THE FINANCIAL YEAR 1,510,740 1,734,341

Retained earnings at beginning of year 2,098,543 4,864,202

Dividends 9 (1,500,000 ) (4,500,000 )

RETAINED EARNINGS AT END OF
YEAR

2,109,283

2,098,543

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 144,212 109,660

CURRENT ASSETS
Debtors 11 6,808,232 4,293,911
Cash at bank 2,281,912 2,583,675
9,090,144 6,877,586
CREDITORS
Amounts falling due within one year 12 6,771,859 4,569,605
NET CURRENT ASSETS 2,318,285 2,307,981
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,462,497

2,417,641

PROVISIONS FOR LIABILITIES 14 54,951 20,835
NET ASSETS 2,407,546 2,396,806

CAPITAL AND RESERVES
Called up share capital 15 306 306
Share premium 297,957 297,957
Retained earnings 2,109,283 2,098,543
SHAREHOLDERS' FUNDS 2,407,546 2,396,806

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr J Bender - Director


COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Commerce Decisions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The Company meets its day-to-day working capital requirements through its available cash funds. The market conditions in which the Group operates continue to be challenging as spending from the Company’s key customers comes under pressure. Despite these challenges, and considering the decisive action already taken by management to maintain the strength of our business, the Director believes that the Company is well positioned to manage its overall business risk successfully.

After making enquiries, the Director has reasonable expectations that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The financial statements of the company are consolidated in the financial statements of Constellation Software Inc. The consolidated financial statements are available from its registered office, 1200-20 Adelaide Street East, Toronto, ON M5C 2T6, Canada.

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

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d).

Preparation of consolidated financial statements
The financial statements contain information about Commerce Decisions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Constellation Software Inc, 1200-20 Adelaide Street East, Toronto, ON M5C 2T6, Canada.

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the Company's accounting policies, the director is 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.

Critical Judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Trade Debtors
The judgement on the recoverability of trade debtors where they are invoiced to government bodies and settlement of these debts is a key consideration when determining the Company's credit terms with individual customers.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Deferred Income
The Director exercises judgement over the service obligation life of the revenue generated on a customer by customer basis based on the contract agreed and the services performed within that contract. The residual of the revenue generated which relates to future period is treated as deferred income.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities.

Licence revenue is recognised over time when the Company maintains a significant level of involvement in developing and enhancing the licence after the sale. The level of involvement goes beyond general support, bug-fixing and upgrades which generally only maintain the current operating level.

The company also offers a cloud-based service where customers pay a host fee, licence fee and support and maintenance fee to access the Company hosted service for a fixed term. It was assessed that each of the three deliverables could not benefit the customer on a stand-alone basis as the customer requires each to obtain the complete hosting service. One distinct performance obligation is provided to the customer over the term of the contract. The Company recognises revenue over time as the customer simultaneously receives and consumes the benefits of the hosting service provided by the Company as the Company performs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 balance sheet 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.

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 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

3. TURNOVER

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

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

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Software & Services 16,673,855 12,604,941
16,673,855 12,604,941

An analysis of turnover by geographical market is given below:

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
United Kingdom 8,749,778 4,326,636
Europe 353,159 32,339
South America 143,473 23,980
Asia 10,821 31,460
Canada 7,416,624 7,624,640
Australia - 565,886
16,673,855 12,604,941

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Wages and salaries 9,527,626 7,084,528
Social security costs 1,040,954 808,321
Other pension costs 736,234 497,076
11,304,814 8,389,925

The average number of employees during the year was as follows:
Period
1.4.22
Year Ended to
31.12.23 31.12.22

Director 1 1
Staff 117 124
118 125

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Directors' remuneration - -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Interest payable - 41,709

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Depreciation - owned assets 39,830 23,818
Profit on disposal of fixed assets - (278,723 )
Foreign exchange differences 67,431 13,366

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. AUDITORS' REMUNERATION
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

7,500

7,500

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 507,093 411,961
Tax relating to early years 25,968 (455 )
Total current tax 533,061 411,506

Deferred tax 34,117 698
Tax on profit 567,178 412,204

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

Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Profit before tax 2,077,918 2,146,545
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

488,726

407,844

Effects of:
Expenses not deductible for tax purposes 26,546 62,672
Income not taxable for tax purposes - (52,957 )
Capital allowances in excess of depreciation - (5,709 )
Depreciation in excess of capital allowances 25,938 -
Adjustments to tax charge in respect of previous periods 25,968 354
Total tax charge 567,178 412,204

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. DIVIDENDS
Period
1.4.22
Year Ended to
31.12.23 31.12.22
£    £   
Ordinary shares of £0.00001 each
Interim 1,500,000 4,500,000

10. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 251,465
Additions 74,655
Disposals (45,807 )
At 31 December 2023 280,313
DEPRECIATION
At 1 January 2023 141,805
Charge for year 39,830
Eliminated on disposal (45,534 )
At 31 December 2023 136,101
NET BOOK VALUE
At 31 December 2023 144,212
At 31 December 2022 109,660

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,284,573 1,829,464
Amounts owed by group undertakings 4,905,015 1,817,153
Other debtors 120,795 203,925
Value added tax 63,848 -
Prepayments 434,001 443,369
6,808,232 4,293,911

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 95,647 202,927
Amounts owed to group undertakings 518,499 44,856
Taxation 366,534 308,598
Social security and other taxes 113,853 110,254
Value added tax - 111,993
Accruals and deferred income 4,246,898 2,642,236
Accruals 1,430,428 1,148,741
6,771,859 4,569,605

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 174,770 174,770
Between one and five years 218,533 393,233
393,303 568,003

14. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 54,951 20,835

Deferred
tax
£   
Balance at 1 January 2023 20,835
Charge to Income Statement during year 34,116
Balance at 31 December 2023 54,951

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
3,056,753 Ordinary £0.00001 306 306

16. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

COMMERCE DECISIONS LIMITED (REGISTERED NUMBER: 04157081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

17. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Constellation Software UK Holdco Ltd, a company incorporated in England & Wales. The ultimate parent undertaking and controlling party is Constellation Software Inc. The registered office of Constellation Software Inc is 1200-20 Adelaide Street East, Toronto, ON M5C 2T6, Canada.