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Registered number: SC102804














ASCERTRA UK LIMITED





INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
ASCERTRA UK LIMITED
 

COMPANY INFORMATION


Directors
D McKay 
M McKinley 
K Simons (appointed 20 October 2023)




Company secretary
Dentons Secretaries Limited



Registered number
SC102804



Registered office
1 George Square

Glasgow

G2 1AL




Independent auditor
Anderson Anderson & Brown Audit LLP

Kingshill View

Prime Four Business Park

Kingswells

Aberdeen

AB15 8PU





 
ASCERTRA UK LIMITED
 

CONTENTS



Page
Directors' responsibilities statement
1
Balance sheet
2
Notes to the financial statements
3 - 6


 
ASCERTRA UK LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors are responsible for preparing the Directors' report 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 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 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 for the Company's financial statements and then apply them consistently;

make judgments 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

 
ASCERTRA UK LIMITED
REGISTERED NUMBER:SC102804

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,273,698
1,544,159

Cash at bank and in hand
 5 
18,153
99,797

  
1,291,851
1,643,956

Creditors: amounts falling due within one year
 6 
(664,621)
(1,006,520)

Net current assets
  
 
 
627,230
 
 
637,436

Total assets less current liabilities
  
627,230
637,436

  

Net assets
  
627,230
637,436


Capital and reserves
  

Called up share capital 
 7 
42,687
42,687

Capital redemption reserve
  
7,515
7,515

Profit and loss account
  
577,028
587,234

  
627,230
637,436


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 by: 




................................................
M McKinley
Director

Date: 28 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ASCERTRA UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Ascertra Limited is a limited liability company incorporated in Scotland. The registered office is 1 George Square, Glasgow, United Kingdom, G2 1AL. 
The principal activity of the company is the provision of project management control systems and related consultancy services. 

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

The directors have considered the obligations of the company over the coming 12 months at the time of approval of these financial statements and are confident that with the current resources in place and improving trading position that the company can meet it's obligations as they fall due.
The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to meet it's obligations. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is 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.

Page 3

 
ASCERTRA UK LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and 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.
Revenue from product sales is recognised on delivery.
Revenue relating to software support is recognised in the period to which it relates. Any element relating to future periods is deferred accordingly.
Consultancy revenue is recognised in the period to which it relates.

 
2.5

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.

 
2.6

Taxation

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 operates and generates income.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 16).

Page 4

 
ASCERTRA UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
46,244
648,461

Amounts owed by group undertakings
1,073,591
853,620

Other debtors
142,137
37,979

Prepayments and accrued income
11,726
4,099

1,273,698
1,544,159



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,153
99,797

18,153
99,797



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,410
13,063

Amounts owed to group undertakings
550,416
157,869

Other taxation and social security
22,496
115,081

Other creditors
453
-

Accruals and deferred income
88,846
720,507

664,621
1,006,520



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



42,687 (2022 - 42,585) Orinary shares shares of £1.00 each
42,687
42,585
0 (2022 - 100) 'A' Ordinary Shares shares of £1.00 each
-
100
0 (2022 - 2) 'B' Ordinary Shares shares of £1.00 each
-
2

42,687

42,687


Page 5

 
ASCERTRA UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Operating lease commitments





At 31 December 2023 the company had future minimum lease payments under non-cancellable operating leases of £nil (2022 - £nil).


9.


Related party transactions

Control
The company's immediate parent company has changed since the year end to Carina UK Holdco Ltd a company incorporated in England and Wales, previously the immediate parent company was Vela UK Holdco Limited.
The largest and smallest group in which the results of the company are consolidated is that headed by the ultimate parent entity and controlling party, Constellation Software Inc. a company incorporated in Canada
Transactions
The company has taken advantage of Section 1AC.35 of Financial Reporting Standard 102 which allows exemption from disclosure of related party transactions with other group companies.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 28 October 2024 by Graeme Penman (Senior statutory auditor) on behalf of Anderson Anderson & Brown Audit LLP.

Page 6