Company registration number 06793966 (England and Wales)
WHERESCAPE EUROPE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WHERESCAPE EUROPE LIMITED
COMPANY INFORMATION
Directors
Mr R L Chambers III
Mr R E Jacops
Secretary
Mr R L Chambers III
Company number
06793966
Registered office
Suite 4, 7th Floor
50 Broadway
London
SW1H 0DB
Auditor
Sumer Auditco Limited
The Beehive
Beehive Ring Road
London Gatwick Airport
Gatwick
United Kingdom
RH6 0PA
WHERESCAPE EUROPE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
WHERESCAPE EUROPE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors falling due after more than one year
3
1,518,037
1,462,173
Debtors falling due within one year
3
7,555,515
7,360,227
Cash at bank and in hand
782,841
744,233
9,856,393
9,566,633
Creditors: amounts falling due within one year
4
(5,040,465)
(5,109,675)
Net current assets
4,815,928
4,456,958
Creditors: amounts falling due after more than one year
5
(2,688,724)
(2,656,967)
Net assets
2,127,204
1,799,991
Capital and reserves
Called up share capital
101
101
Share premium account
1,374,031
1,374,031
Profit and loss reserves
753,072
425,859
Total equity
2,127,204
1,799,991

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

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

The financial statements were approved by the board of directors and authorised for issue on 20 December 2024 and are signed on its behalf by:
Mr R L Chambers III
Director
Company registration number 06793966 (England and Wales)
WHERESCAPE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

WhereScape Europe 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.

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 £.

Related party exemption

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.

1.2
Turnover

Revenue is derived primarily from software licences which is recognised upon the provision of licence keys to the end user customers. Related maintenance and support revenue is rateable over the period of the contract and deferred as appropriate. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable for services, excluding discounts, rebates, value added tax, and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Sale of services

Revenue split

Revenue is split into software licences, initial maintenance, maintenance and support renewals, consultancy and training.

Foreign currencies

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.

1.3
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.

WHERESCAPE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees

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

2024
2023
Number
Number
Total
9
13
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,482,747
1,880,624
Amounts owed by undertakings in which the company has a participating interest
2,661,712
2,423,619
Prepayments and accrued income
2,411,056
3,055,984
7,555,515
7,360,227
2024
2023
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
1,518,037
1,462,173
Total debtors
9,073,552
8,822,400
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
80,913
33,348
Corporation tax
88,096
11,282
Other taxation and social security
211,241
119,526
Other creditors
4,660,215
4,945,519
5,040,465
5,109,675
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,688,724
2,656,967
WHERESCAPE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
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:
Mr Alan Edward Jones FCCA
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
23 December 2024
7
Parent company

The company's parent company is WhereScape Inc., a company registered in the United States of America. The registered office address of WhereScape Inc is Creekside Suite 125, 4001 W Parmer Lane, Austin, TX 78727.

 

The company's ultimate parent company is Idera Parent Sub, LP, a company registered in the United States of America.

 

Idera Parent Sub, LP is the parent company of the largest and smallest group of which the company is a member and for which group accounts are drawn up. Copies of the financial statements of Idera Parent Sub, LP can be obtained from Idera Inc. Creekside Suite 125, 4001 W Parmer Lane, Austin, TX 78727.

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