REGISTERED NUMBER: 13648431 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

REALIS SIMULATION LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

Fixed assets

Tangible assets

5

8,843

13,993

Current assets

Debtors

6

1,629,549

1,817,395

Cash at bank

112,921

100,686

1,742,470

1,918,081

Creditors

Amounts falling due within one year

7

634,032

1,107,845

Net current assets

1,108,438

810,236

Total assets less current liabilities

1,117,281

824,229

Provisions for liabilities

-

2,905

Net assets

1,117,281

821,324

Capital and reserves

Called up share capital

8

2

2

Retained earnings

1,117,279

821,322

Shareholders' funds

1,117,281

821,324

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 17 September 2026 and were signed on its behalf by:

B Thompson - Director

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 has been deemed to be a going concern based on the strength of the forecasts and the availability of group support, if required. This assessment covers at least 12 months from the date that the financial statements have been approved. On that basis it is appropriate to prepare the financial statements on a going concern basis.

The presentation and the functional currency is £.

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.

The company also provides software directly to customers and provides maintenance support as required.

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 assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Financial instruments

Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified at fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified at fair value through profit and loss are initially measured at fair value plus transaction costs.

Impairment of financial assets

Financial assets carried at amortised cost and fair value through profit and loss are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when the company transfers the financial asset and substantially all the risk and rewards of ownership to another entity.

Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at a fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are deregonised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Equity instruments

Equity instruments issued by the company are recorded at proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

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 (2024 - 12 ) .

5.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 January 2025

64,689

Additions

3,966

Disposals

(56,620

)

At 31 December 2025

12,035

Depreciation

At 1 January 2025

50,696

Charge for year

9,116

Eliminated on disposal

(56,620

)

At 31 December 2025

3,192

Net book value

At 31 December 2025

8,843

At 31 December 2024

13,993

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

369,101

25,374

Amounts owed by group undertakings

1,187,640

1,749,896

Other debtors

72,808

42,125

1,629,549

1,817,395

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

6,236

20,110

Amounts owed to group undertakings

406,302

890,260

Social security and other taxes

2,290

27,929

Accruals and deferred income

219,204

169,546

634,032

1,107,845

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

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.