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Registered number: 06124143












EXEGY UK LIMITED
 FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 

EXEGY UK LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 8

 

EXEGY UK LIMITED
 
COMPANY INFORMATION


Directors
P Feret 
D E Taylor 




Company secretary
Taylor Wessing Secretaries Limited



Registered number
06124143



Registered office
5 New Street Square

London

EC4A 3TW




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:06124143
EXEGY UK LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 5 
2,977,349
2,046,529

Cash at bank
  
93,491
68,295

  
3,070,840
2,114,824

Creditors: amounts falling due within one year
 6 
(944,455)
(370,478)

Net current assets
  
 
 
2,126,385
 
 
1,744,346

Total assets less current liabilities
  
2,126,385
1,744,346

  

Net assets
  
2,126,385
1,744,346


Capital and reserves
  

Called up share capital 
  
1,961
1,961

Profit and loss account
  
2,124,424
1,742,385

Total equity
  
2,126,385
1,744,346


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 November 2024.




P Feret
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Exegy UK Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 5 New Street Square, London, EC4A 3TW.
The financial statements are presented in USD ($).

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Furthermore, the company is in receipt of a letter of support from its intermediate undertaking, EXV Midco LLC, that it will continue to provide the funding necessary to enable the entity to settle its liabilities as they fall due. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. 

  
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. 
Revenue is derived from the leasing of hardware-accelerated computing appliances and providing bundled services relating to these appliances, such as remote managed services, full maintenance and product upgrades. Each component is considered a separate performance obligation with revenue being allocated to each performance obligation based on relative stand alone selling prices. Upon successful installation of the appliance, revenue is recognised and an expense is recognised within cost of sales. Bundled-service components are recognised over the period of the contract.

  
2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
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. 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Page 3

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

  

Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Page 4

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.5

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.

  
2.6

Share capital

Ordinary shares are classified as equity.

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD ($).

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.

All foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

 
2.8

Operating leases: the Company 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.

Page 5

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

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

 
2.10

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 operates and generates income.

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2020 - 7).


4.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 4 November 2024 by Simon Mayston (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 6

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Debtors

2021
2020
$
$


Trade debtors
491,680
465,469

Amounts owed by group undertakings
2,426,398
1,349,129

Other debtors
-
24,941

Prepayments and accrued income
59,271
206,990

2,977,349
2,046,529


Amounts owed by group undertakings are unsecured, interest free and due for repayment within one year.


6.


Creditors: amounts falling due within one year

2021
2020
$
$

Trade creditors
13,435
35,144

Corporation tax
80,991
87,458

Other creditors
92,986
92,546

Other taxation and social security
-
44,406

Accruals and deferred income
757,043
110,924

944,455
370,478



7.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independentlyn administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to $11,049 (2020 - $12,007). Contributions totalling $nil (2020 - $2,808) were payable to the fund at the balance sheet date and are included in creditors.


8.


Post balance sheet events

 In May 2022, the company acquired Enyx SA, a financial technology firm based in France.

Page 7

 

EXEGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Parent undertaking

The parent undertaking of the smallest group of undertakings for which group financial statements are drawn up and of which the company is a member is Exegy Inc., whose registered office is 349 Marshall Avenue, St. Louis, MO 63119, United States of America. Copies of the group financial statements are not available to the public.
The parent undertaking of the largest group of undertakings for which group financial statements are drawn up and of which the company is a member is EXV Midco LLC, whose registered office is 349 Marshall Avenue, St. Louis, MO 63119, United States of America. Copies of the group financial statements are not available to the public.

 
Page 8