REGISTERED NUMBER: 03860799 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

QUICKSILVA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Bender

SECRETARY:

Mr J A Evans

REGISTERED OFFICE:

Brook Suite Bewley House

Marshfield Road

Chippenham

SN15 1JW

REGISTERED NUMBER:

03860799 (England and Wales)

AUDITORS:

Kings CAP Ltd

Statutory Auditor

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

FIXED ASSETS

Intangible assets

4

17,241

12,574

Tangible assets

5

29,939

39,042

Investments

6

40,000

40,000

87,180

91,616

CURRENT ASSETS

Debtors

7

1,171,332

1,900,067

Cash at bank

286,300

468,338

1,457,632

2,368,405

CREDITORS

Amounts falling due within one year

8

1,451,253

1,892,493

NET CURRENT ASSETS

6,379

475,912

TOTAL ASSETS LESS CURRENT LIABILITIES

93,559

567,528

PROVISIONS FOR LIABILITIES

9

5,688

10,718

NET ASSETS

87,871

556,810

CAPITAL AND RESERVES

Called up share capital

10

1,340

1,340

Share premium

6,842

6,842

Capital redemption reserve

5,487

5,487

Retained earnings

74,202

543,141

SHAREHOLDERS' FUNDS

87,871

556,810

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 December 2025 and were signed by:

Mr J Bender - Director

1.	STATUTORY INFORMATION

Quicksilva 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company's going concern status is dependent upon the continued financial support of the parent undertaking. Having made appropriate enquiries at the time of approving these accounts the director considers that the company and the parent undertaking have adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis in preparing these accounts.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Capitalised commissions is being amortised evenly over its estimated useful life of five years.

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

-

25% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Capitalised

commissions

£

COST

At 1 January 2024

17,339

Additions

8,856

At 31 December 2024

26,195

AMORTISATION

At 1 January 2024

4,765

Amortisation for year

4,189

At 31 December 2024

8,954

NET BOOK VALUE

At 31 December 2024

17,241

At 31 December 2023

12,574

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

166,707

Additions

5,372

Disposals

(120,604

)

At 31 December 2024

51,475

DEPRECIATION

At 1 January 2024

127,665

Charge for year

12,055

Eliminated on disposal

(118,184

)

At 31 December 2024

21,536

NET BOOK VALUE

At 31 December 2024

29,939

At 31 December 2023

39,042

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.12.24

31.12.23

£

£

Other investments

40,000

40,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

757,611

703,450

Amounts owed by group undertakings

355,536

981,029

Prepayments and accrued income

58,185

215,588

1,171,332

1,900,067

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

55,311

202,457

Amounts owed to group undertakings

463,627

278,179

Taxation

161,330

272,571

Value added tax

189,588

177,470

Other creditors

11,063

10,980

Accruals and deferred income

570,334

950,836

1,451,253

1,892,493

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

5,688

10,718

Deferred

tax

£

Balance at 1 January 2024

10,718

Credit to Statement of Income and Retained Earnings during year

(5,030

)

Balance at 31 December 2024

5,688

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

120,000

Ordinary A Shares

£0.01

1,200

1,200

14,006

Ordinary B Shares

£0.01

140

140

1,340

1,340

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)

for and on behalf of Kings CAP Ltd

12.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Constellation Software UK Holdco Limited, a company incorporated in the UK.

The largest and smallest group in which the results are consolidated is Constellation Software Inc. Constellation Software Inc is incorporated in Canada and is also the ultimate controlling party of the company. The consolidated accounts for this group are available from the company website.