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REGISTERED NUMBER: 13648431 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

REALIS SIMULATION LTD

| REALIS SIMULATION LTD (REGISTERED NUMBER: 13648431) |

Contents of the Financial Statements

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| REALIS SIMULATION LTD |

Company Information

for the year ended 31 December 2024

| Directors: | M Thompson

| B Thompson

| Registered office: | Shoreham Technical Centre,

| Old Shoreham Rd

| Shoreham-By-Sea

| West Sussex

| BN43 5FG

| Registered number: | 13648431 (England and Wales)

| Auditors: | S&W Audit

| Northern Assurance Buildings

| 9-21 Princess Street

| Manchester

| M2 4DN

| REALIS SIMULATION LTD (REGISTERED NUMBER: 13648431) |

Balance Sheet

31 December 2024

2024 | 2023 |

| Notes | £ | £ | £ | £

Fixed assets

Tangible assets | 5 | 13,993 |  | 23,450 |  |

Current assets

Debtors | 6 | 1,817,395 |  | 3,358,256 |  |

Cash at bank | 100,686 |  | 113,379 |  |

1,918,081 |  | 3,471,635 |  |

Creditors

Amounts falling due within one year | 7 | 1,107,845 |  | 2,978,371 |  |

Net current assets | 810,236 |  | 493,264 |  |

Total assets less current liabilities | 824,229 |  | 516,714 |  |

Provisions for liabilities | 2,905 |  | - |  |

Net assets | 821,324 |  | 516,714 |  |

Capital and reserves

Called up share capital | 8 | 2 |  | 2 |  |

Retained earnings | 821,322 |  | 516,712 |  |

Shareholders' funds | 821,324 |  | 516,714 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

B Thompson - Director

| REALIS SIMULATION LTD (REGISTERED NUMBER: 13648431) |

Notes to the Financial Statements

for the year ended 31 December 2024

1. | Statutory information

| Realis Simulation Ltd 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.

2. | Statement of compliance

| 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The company is dependent, in the absence of other funding, on the continued financial support from it's ultimate parent company. The ultimate parent company has confirmed its commitment to provide the necessary support by providing adequate facilities. On that basis it is appropriate to prepare the financial statements on a going concern basis.

| In the previous period, the length of the period of the financial statements was increased with the period being from 1st July 2022 to 31st December 2023 to bring in line with the group year end.Therefore, the comparative information will not be entirely comparable.

| 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| The company receives a royalty for the provision of software and is based on a percentage of all software sales incurred under a distribution agreement.

| Other income

| Other income comprises of an R&D tax credit as a result of development activities conducted in the current year. This is recognised in the period of which the activities are completed.

| 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 - 33% straight line

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

| REALIS SIMULATION LTD (REGISTERED NUMBER: 13648431) |

Notes to the Financial Statements - continued

for the year ended 31 December 2024

3. | Accounting policies - continued

| 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.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

4. | Employees and directors

| The average number of employees during the year was 12 (2023 - 17 ) .

5. | Tangible fixed assets

Computer |

equipment |

| £

| Cost

| At 1 January 2024 | 57,520 |  |

| Additions | 7,169 |  |

| At 31 December 2024 | 64,689 |  |

| Depreciation

| At 1 January 2024 | 34,070 |  |

| Charge for year | 16,626 |  |

| At 31 December 2024 | 50,696 |  |

| Net book value

| At 31 December 2024 | 13,993 |  |

| At 31 December 2023 | 23,450 |  |

6. | Debtors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade debtors | 25,374 |  | 37,471 |  |

| Amounts owed by group undertakings | 1,749,896 |  | 3,207,504 |  |

| Other debtors | 42,125 |  | 113,281 |  |

1,817,395 |  | 3,358,256 |  |

| REALIS SIMULATION LTD (REGISTERED NUMBER: 13648431) |

Notes to the Financial Statements - continued

for the year ended 31 December 2024

7. | Creditors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade creditors | 20,110 |  | 8,683 |  |

| Amounts owed to group undertakings | 890,260 |  | 2,776,609 |  |

| Social security and other taxes | 27,929 |  | 31,748 |  |

| Accruals and deferred income | 169,546 |  | 161,331 |  |

1,107,845 |  | 2,978,371 |  |

8. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

value: |  | £ | £

| 2 | Ordinary | £1 | 2 |  | 2 |  |

9. | Disclosure under Section 444(5B) of the Companies Act 2006

| The Report of the Auditors was unqualified.

| Antony Sassen (Senior Statutory Auditor)

| for and on behalf of S&W Audit

10. | Ultimate controlling party

| The ultimate parent company and controlling party is Constellation Software Inc, a company incorporated in Canada and listed on the Toronto Stock Exchange. The smallest and largest consolidated accounts which include the company are the Constellation Software Inc group accounts.

| The consolidated accounts of Constellation Software Inc are available to the public and may be obtained from Constellation Software Inc, 1200-20 Adelaide Street, East Toronto, ON M5C 2T6, Canada.