Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31truetruetruetruetruetruetruetruetruetrue2024-01-01falseNo description of principal activity13truefalse 12516929 2024-01-01 2024-12-31 12516929 2023-01-01 2023-12-31 12516929 2024-12-31 12516929 2023-12-31 12516929 2023-01-01 12516929 2 2023-01-01 2023-12-31 12516929 1 2024-01-01 2024-12-31 12516929 e:Director1 2024-01-01 2024-12-31 12516929 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 12516929 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 12516929 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 12516929 d:Goodwill 2024-01-01 2024-12-31 12516929 d:Goodwill 2024-12-31 12516929 d:Goodwill 2023-12-31 12516929 d:IntangibleAssetsOtherThanGoodwill 2024-12-31 12516929 d:IntangibleAssetsOtherThanGoodwill 2023-12-31 12516929 d:CurrentFinancialInstruments 2024-12-31 12516929 d:CurrentFinancialInstruments 2023-12-31 12516929 d:Non-currentFinancialInstruments 2024-12-31 12516929 d:Non-currentFinancialInstruments 2023-12-31 12516929 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12516929 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12516929 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 12516929 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12516929 d:ShareCapital 2024-01-01 2024-12-31 12516929 d:ShareCapital 2024-12-31 12516929 d:ShareCapital 2023-01-01 2023-12-31 12516929 d:ShareCapital 2023-12-31 12516929 d:ShareCapital 2023-01-01 12516929 d:SharePremium 2024-01-01 2024-12-31 12516929 d:SharePremium 2024-12-31 12516929 d:SharePremium 2023-01-01 2023-12-31 12516929 d:SharePremium 2023-12-31 12516929 d:SharePremium 2023-01-01 12516929 d:SharePremium 2 2023-01-01 2023-12-31 12516929 d:ForeignCurrencyTranslationReserve 2024-01-01 2024-12-31 12516929 d:ForeignCurrencyTranslationReserve 2024-12-31 12516929 d:ForeignCurrencyTranslationReserve 2023-01-01 2023-12-31 12516929 d:ForeignCurrencyTranslationReserve 2023-12-31 12516929 d:ForeignCurrencyTranslationReserve 2023-01-01 12516929 d:ForeignCurrencyTranslationReserve 2 2023-01-01 2023-12-31 12516929 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 12516929 d:RetainedEarningsAccumulatedLosses 2024-12-31 12516929 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12516929 d:RetainedEarningsAccumulatedLosses 2023-12-31 12516929 d:RetainedEarningsAccumulatedLosses 2023-01-01 12516929 d:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 12516929 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 12516929 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 12516929 d:OtherDeferredTax 2024-12-31 12516929 d:OtherDeferredTax 2023-12-31 12516929 e:OrdinaryShareClass1 2024-01-01 2024-12-31 12516929 e:OrdinaryShareClass1 2024-12-31 12516929 e:OrdinaryShareClass1 2023-12-31 12516929 e:FRS101 2024-01-01 2024-12-31 12516929 e:Audited 2024-01-01 2024-12-31 12516929 e:FullAccounts 2024-01-01 2024-12-31 12516929 e:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12516929 e:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12516929 d:FinancialInstrumentsFairValueThroughProfitOrLoss 2024-01-01 2024-12-31 12516929 d:FinancialLiabilitiesAmortisedCost 2024-01-01 2024-12-31 12516929 d:FinancialInstrumentsDesignatedFairValueThroughProfitOrLoss 2024-01-01 2024-12-31 12516929 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2024-01-01 2024-12-31 12516929 4 2024-01-01 2024-12-31 12516929 d:NetGoodwill 2024-12-31 12516929 d:NetGoodwill 2023-12-31 12516929 f:PoundSterling 2024-01-01 2024-12-31 12516929 d:ShareCapital 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12516929









INTELLICENE SOFTWARE UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
INTELLICENE SOFTWARE UK LTD
REGISTERED NUMBER: 12516929

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
 

Goodwill
    5 
448,930
678,510

  
448,930
678,510

Fixed assets
  

Other intangible assets
 4 
271
1,863

  
449,201
680,373

Current assets
  

Debtors: amounts falling due within one year
 6 
746,602
921,108

Cash at bank and in hand
 7 
193,803
150,222

  
940,405
1,071,330

Creditors: amounts falling due within one year
 8 
(229,555)
(493,275)

Net current assets
  
 
 
710,850
 
 
578,055

Total assets less current liabilities
  
1,160,051
1,258,428

  

Creditors: amounts falling due after more than one year
 9 
(2,769)
(12,715)

  
1,157,282
1,245,713

  

  

Net assets
  
1,157,282
1,245,713


Capital and reserves
  

Called up share capital 
 11 
149
149

Share premium account
 12 
1,312,077
1,312,077

Foreign exchange reserve
 12 
(110,954)
(110,954)

Profit and loss account
 12 
(43,990)
44,441

  
1,157,282
1,245,713


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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 statement of comprehensive income in accordance with provisions
Page 1

 
INTELLICENE SOFTWARE UK LTD
REGISTERED NUMBER: 12516929
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 5 June 2025.




Gordon Smith
Director

The notes on pages 4 to 16 form part of these financial statements.

Page 2

 
INTELLICENE SOFTWARE UK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Foreign exchange reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 January 2024
149
1,312,077
(110,954)
44,441
1,245,713


Comprehensive income for the year

Loss for the year
-
-
-
(88,431)
(88,431)
Total comprehensive income for the year
-
-
-
(88,431)
(88,431)


Total transactions with owners
-
-
-
-
-


At 31 December 2024
149
1,312,077
(110,954)
(43,990)
1,157,282


The notes on pages 4 to 16 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Foreign exchange reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 January 2023
149
1,312,077
(110,954)
182,412
1,383,684


Comprehensive income for the year

Loss for the year
-
-
-
(137,971)
(137,971)
Total comprehensive income for the year
-
-
-
(137,971)
(137,971)


Contributions by and distributions to owners

Share based payment expense
-
-
-
-
-


Total transactions with owners
-
-
-
-
-


At 31 December 2023
149
1,312,077
(110,954)
44,441
1,245,713


The notes on pages 4 to 16 form part of these financial statements.

Page 3

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Intellicene Software UK Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. The principal activity of the Company during the year was the distribution of Situational Intelligence Solutions in the UK and broader European market. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared to cover the year ended 31 December 2024. The prior period financial statements were prepared for the year ended 31 December 2023. 

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

Page 4

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
 - paragraph 79(a)(iv) of IAS 1;
 - paragraph 73(e) of IAS 16 Property, Plant and Equipment;
 - paragraph 118(e) of IAS 38 Intangible Assets;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraph 74A(b) of IAS 16
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of Constellation Software Inc as at 31 December 2024 and these financial statements may be obtained from 20 Adelaide Street East, Toronto, Ontario, Canada, M5C 2T6.

 
2.3

Going concern

The directors have reviewed the cash flow forecast and business plan as provided by management which includes the rate of revenue growth, margins and cost control and considered the Company’s financial resources. Based on their review, the directors are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they adopt the going concern basis in preparing these financial statements.

Page 5

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

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, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

To determine whether to recognise revenue, the Company follows a five-step process:
1. identifying the contract with a customer;
2. identifying the performance obligations;
3. determining the transaction price;
4. allocating the transaction price to the performance obligation; and
5. recognising revenue when/as performance obligation(s) are satisfied.
Revenue comprises:
a) the provision of hardware products (which include software that works together with the hardware to deliver the product's essential functionality) and licensing of software products; and
 b) service and support revenue, including revenue from installation services, post-contract customer support ("PCS"), software as a service ("SaaS"), consulting and training.
Revenue is recognised either at a point in time or over time when (or as) the Company satisfies performance obligations by transferring the promised goods or services to its customers.
The Company recognises contract liabilities for consideration received in respect of unsatisfied performance obligations based on underlying contracts and reports these amounts within accruals and deferred income. If the Company satisfies a performance obligation before it received the consideration, the Company recognises a receivable on its Statement of Financial Position.

Page 6

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 7

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.
Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued.
When a business combination agreement provides for an adjustment to the cost of the combination which is contingent on future events, the company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. However, if the potential adjustment is not recognised at the acquisition date but subsequently becomes probable and can be measured reliably, the additional consideration shall be treated as an adjustment to the cost of the combination. Changes in the estimated value of contingent consideration arising on business combinations completed as a consequence result in a change in the carrying value of the related goodwill.
Goodwill is capitalised as an intangible asset and is not amortised. Instead it is reviewed annually for impairment with any impairment in carrying value being charged to profit or loss. The Companies Act 2006 requires acquired goodwill to be reduced by provisions for depreciation calculated to write off the amount systematically over a period chosen by the directors, not exceeding its useful economic life. It has been deemed, however, the non-amortisation of goodwill is a departure, for the overriding purpose of giving a true and fair view. The effect of this departure has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

 
2.11

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.12

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.

 
2.13

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.

Page 8

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:

Financial assets and financial liabilities are initially measured at fair value. 

Financial assets

All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.

Fair value through profit or loss

All of the Company's financial assets are subsequently measured at fair value at the end of each reporting period, with any fair value gains or losses being recognised in profit or loss to the extent they are not part of a designated hedging relationship. The net gain or loss recognised in profit or loss includes any dividend or interest earned on the financial asset. 

Impairment of financial assets

The Company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.

Financial liabilities

Fair value through profit or loss

Page 9

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)

Financial liabilities are classified as at fair value through profit or loss, when the financial liability is held for trading, or is designated as at fair value through profit or loss. This designation may be made if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise, or the financial liability forms part of a group of financial instruments which is managed and its performance is evaluated on a fair value basis, or the financial liability forms part of a contract containing one or more embedded derivatives, and IFRS 9 permits the entire combined contract to be designated as at fair value through profit or loss. Any gains or losses arising on changes in fair value are recognised in profit or loss to the extent that they are not part of a designated hedging relationship.

At amortised cost

Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.


3.


Employees

2024
2023
£
£

Wages and salaries
101,740
121,782

Social security costs
11,565
15,931

Cost of defined contribution scheme
6,573
8,422

Severance costs
-
83,306

119,878
229,441


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1
3

Page 10

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2024
5,970


Additions - internal
2,340



At 31 December 2024

8,310



Amortisation


At 1 January 2024
4,107


Charge for the year on owned assets
3,932



At 31 December 2024

8,039



Net book value



At 31 December 2024
271



At 31 December 2023
1,863




Page 11

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Goodwill




2024

£



Cost


At 1 January 2024
678,510



At 31 December 2024

678,510



Amortisation


Impairment charge
229,580



At 31 December 2024

229,580



Net book value



At 31 December 2024
448,930



At 31 December 2023
678,510

The recoverable amount was judged to be lower than the carrying amount and therefore an impairment of £229,580 has been charged.



6.


Debtors

2024
2023
£
£


Trade debtors
61,465
108,900

Amounts owed by group undertakings
676,862
756,909

Prepayments and accrued income
110
5,246

Deferred taxation
8,165
50,053

746,602
921,108


The net carrying value of debtors is considered to be a reasonable approximation of their fair value. 

Page 12

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
193,803
150,222

193,803
150,222



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,244
2,029

Amounts owed to group undertakings
47,639
197,996

Corporation tax
25,908
-

Other taxation and social security
30,494
35,055

Accruals and deferred income
122,270
258,195

229,555
493,275


The net carrying value of creditors is considered to be a reasonable approximation of their fair values and comprise amounts outstanding for trade purchases and ongoing costs. Normal credit terms for most suppliers are 30 days and the Company tries to adhere to these terms where possible. No interest is charged on trade creditors. The Company has financial risk management policies in place to ensure that all payables are paid within the credit time frames.

Page 13

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
2,769
12,715

2,769
12,715



10.


Deferred taxation




2024
2023


£

£






At beginning of year
50,053
22,136


Charged to profit or loss
(41,888)
27,917



At end of year
8,165
50,053

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
8,165
49,205

Other timing difference
-
848

8,165
50,053

A deferred tax asset has been recognised in respect of tax losses carried forward for which there is evidence of recoverability within the two years following the balance sheet date.  The directors consider it prudent not to recognise the remainder of the deferred tax asset.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £0.745000 each
149
149


Page 14

 
INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Reserves

Share premium account

The share premium account represents the consideration paid for shares over the nominal value, net of issue costs.

Foreign exchange reserve

The foreign exchange reserve contains differences arising on foreign currency translation into the new presentational currency of the financial statements.

Profit and loss account

The profit and loss account includes the cumulative retained profits and losses.


13.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Pension contributions during the period amounted to £6,573 (2023: £8,422) and as at the statement of financial position date no balance (2023: £3,390) was unpaid and included within liabilities.


14.


Related party transactions

During the period the Company entered into transactions with other group companies. The Company has taken advantage of the exemption provided in FRS 101 not to disclose transactions occurring with wholly owned members of a group.


15.


Post balance sheet events

A new transfer pricing agreement was reached and finalised in March 2025 in respect of the charges between the company and one of its fellow group entities.  The new agreement led to changes to the charges in respect of the 2023 and 2024 financial years and a net additional charge of £37,547.  As there was no obligation to pay those additional charges at the year end date, it has not been included in the financial statements as a liability and will instead be recorded in the financial statements of the following year.


16.


Controlling party

The Company's immediate parent company is Assetworks Canada Inc, a company incorporated in Canada.
Constellation Software Inc is the ultimate parent company and controlling party. Constellation Software Inc is incorporated in Canada and its registered office is currently located at 20 Adelaide Street East, Toronto, Ontario, Canada, M5C 2T6.
Constellation Software Inc is the parent undertaking of the largest group which prepares publicly available consolidated financial statements for the period ended 31 December 2024. Copies of the consolidated financial statements may be obtained from its registered office.

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INTELLICENE SOFTWARE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 5 June 2025 by Jacqui Williams FCA (Senior statutory auditor) on behalf of FLB AuditLLP.

 
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