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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
COMPANY INFORMATION
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
CONTENTS
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal activity of the Company during the year was that of software development, deployment and support.
As one of the UK’s leading Intelligent Transport System companies, we provide Automatic Vehicle Location (AVL) and Real Time Passenger Information (RTPI) software and services to public and private sector clients primarily based in the United Kingdom and the Republic of Ireland. The Company has approximately 50 experts based in the United Kingdom, who sell, develop, implement, and support a range of software applications that are used by local government and commercial organisations to promote sustainable forms of mobility. We do this by ensuring that passengers can access efficient and reliable transport services by being fully informed via accurate real-time information relating to departure times, transfer and schedule deviations.
The Company supports a range of software applications that overcome complexity and deliver quality and innovation through our own products and services with a best-in-class supply chain.
In 2025, the business continued to focus on growing its revenues with existing clients, whilst delivering the implementation of nationwide deployment with the NTA in Ireland and the LTA in Singapore. As a result of this activity, the directors are satisfied with the performance of the business in 2025.
For 2026, we will focus on delivering the remaining commitments on the implementation and roll out of projects, as well as maintenance work. We continue to look for other new opportunities to support our clients by developing green transport solutions that will sustainably drive economic growth across the UK, the Republic of Ireland and other suitable jurisdictions.
Trapeze ITS UK Limited rebranded as Ebblo UK Limited on 16 February 2026. This was carried out in order to clearly highlight our focus on advanced next-generation ITCS solutions accelerated by AI-powered innovation, reinforcing our market leadership.
As referenced below, the directors use certain financial KPI to measure the business.
The material business risk faced by the Company that are likely to have an effect on the financial prospects of the Company are outlined below:
Business risk management
The directors view the business risks for the Company as low and manageable. The Company has a wide and balanced portfolio of clients. As significant proportion of the Company’s revenues are derived from long term, recurring business held with loyal, long-term clients. The Company has strong personnel in the management team, and at every tier of operation.
Financial risk management
The Company is profit-making in 2025. Furthermore, the business is cash-generative and makes little use of financial instruments, other than an operational bank account, trader debtors, and trade creditors. The Company benefits from strong recurring revenues. Consequently, its exposure to risks associated with credit, liquidity, and cash flow is not material for the assessment of the assets, liabilities, financial position, and profit or loss of the Company. The Company also benefits from long-term Support and Maintenance contracts, which significantly reduces price risk. The competitiveness of the industry does still pose a risk, although the Company’s focus on quality and complexity provides some mitigation.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors used the Key Performance Indicators defined by its parent company. The Key Performance Indicators are Sales, Net Revenue Growth, Gross Margin, and EBITA.
The performance against these metrics in 2025 is considered acceptable by the directors, albeit further improvements will be pursued in 2026.
In addition to the above KPIs, the Company also pays close attention to its Net Tangible Asset (NTA) position. The group requires that the Company is party to a central corporate treasury function which allows the group to centrally manage its liquidity and financial risk whilst ensuring capital is deployed globally in the most effective manner. However, this can mean that locally the financial strength of the Company is not necessarily conveyed by the corporate NTA when reading these financial statements in isolation. To fully understand the size and strength of the corporate group of which the Company is part, these financial statements should be read in conjunction with those of Constellation Software Inc., which are available from the Company's website.
This report was approved by the board and signed on its behalf.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors who served during the year were:
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The profit for the year, after taxation, amounted to £9,153,336 (2024 - £78,368,116).
A dividend of £7,452,160 was paid during the year (2024 - £87,953,827). The significant decrease in the dividends paid during the year is due to the disposal of BBT in the prior year.
A dividend of £8,259,447 was received during the year (2024 - £55,461,485).
The Company is expected to grow by winning new customers as well as working closely with our current customers to deliver valuable solutions. As well we will continue to drive efficiencies by investing in our resources and people to service future growth.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Introduction
The company’s business model is to provide software and hardware products which enable transport operators to provide sustainable, efficient and environmentally friendly methods of public transportation. As part of the Modaxo Group, the Company has access to a deep and diverse knowledge pool which the Company uses to continue development of next generation systems.
Employees
The company’s group of talented and dedicated employees are its most important resource. The Company is proud to provide regular internal and external training and development sessions which are open to all employees. The company also provides centralised resources to support employee physical and mental wellbeing. The Company supports a range of software applications that overcome complexity and deliver quality and innovation through our own products and services with a best-in-class supply chain.
Environment
The company is committed to operating in an environmentally sustainable way. The company is part of a Groupwide asset retention and disposal policy in relation to computer hardware, which includes specialist WEEE recycling via a 3rd party. Where the company provides employees with a vehicle, the company is committed to providing the most CO2 efficient vehicle that meets all relevant criteria.
Business operations
The company maintains a high standard of professionalism and integrity in all of its business dealings, treating all internal and external stakeholders with respect and equality.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Energy Efficiency Actions
During the reporting period, we have implemented several key measures aimed at optimizing our energy use and minimizing our carbon footprint. Below are the principal energy efficiency actions undertaken:
1. Promoting Behavioural Change
We have fully separated recycling and general waste across all our facilities, and have employed the services of a green commercial waste management business. Additionally we have significantly reduced paper usage by becoming a predominantly paperless organisation, utilising Microsoft SharePoint and One Drive for the storage of all documentation.
2. Reducing Travel Emissions
We have prioritised local people wherever possible to minimise unnecessary travel, as well as encouraging the use of public transport and operating a hybrid working model to reduce the impact of commuting. As a business we have sought to cut down on flights by holding international meetings via Microsoft Teams where possible.
Methodologies
In this section, we detail the methodologies and standards used to calculate our energy consumption and greenhouse gas (GHG) emissions. Transparency and consistency in our reporting are essential, and we aim to provide clear, replicable, and verifiable data. Below, we outline the key methodologies applied in preparing this report.
∙Data Collection: We collected data on energy consumption from utility bills. We collected data on fuel by using the total mileage for the fleet and converting that into kWh by assuming 1 litre of fuel gives 12.5 Km and 10.5 kWh. The data covers all relevant energy sources, including electricity, natural gas, and other fuels.
∙Conversion Factors: We used the latest conversion factors provided by the UK Department for Business, Energy & Industrial Strategy (BEIS) to convert energy consumption from kWh to CO2e. The specific factors applied are as follows:
Electricity: 0.17700 kg CO2e/kWh
Natural Gas: 0.20489 kg CO2e/kWh
Average sized diesel car in Km: 0.25953 kg CO2e/kWh
Formula Used: CO2e Emissions = Energy Consumption (kWh) x Emissions Factor (kg CO2e/kWh)
Intensity Metrics
In this section, we present the intensity metrics used to evaluate the efficiency and sustainability of our energy use and greenhouse gas (GHG) emissions. These metrics are crucial for assessing our performance relative to our operational scale and for benchmarking against industry standards. Below, we outline the key intensity metrics calculated for this report
Carbon Intensity: Carbon intensity measures the amount of CO2e emissions produced per unit of revenue. This metric helps us understand the carbon footprint of our economic activities.
Carbon Intensity = 53,745 CO2e / £16,352,711 = 0.003 CO2e per £ (2024: 0.004 CO2e per £).
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
There have been no significant events affecting the Company since the year end.
The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
We have audited the financial statements of Ebblo UK Limited (Formerly known as Trapeze ITS U.K. LTD) (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD) (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD) (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditor
2 Communications Road
Greenham Business Park
Greenham
Berkshire
RG19 6AB
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
REGISTERED NUMBER: 06960657
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 32 form part of these financial statements.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Ebblo UK Limited (Formerly known as Trapeze ITS U.K. LTD) is a private company limited by shares and incorporated in England and Wales. Its registered head office is located at Brook Suite, Ground Floor, Bewley House, Marshfield Road, Chippenham, England, SN15 1JW.
2.Accounting policies
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙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 requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
∙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;
∙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 2025 and these financial statements may be obtained from https://www.csisoftware .com/.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The Directors have reviewed the working capital requirements of the Company for a period of at least 12 months from the anticipated date of signing the financial statements and are satisfied that the Company will be able to meet its liabilities as they fall due.
Functional and presentation currency
Transactions and balances
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
To determine whether to recognise revenue, the Company follows a 5 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 obligations 5 Recognising revenue when/as performance obligation(s) are satisfied Software licenses and hardware sales are recognised when the customer obtains control of the asset, which is on delivery of the asset. When delivery of goods is delayed at the buyers request, the customer specifically acknowledges the deferred delivery instructions and the usual payment terms apply; revenue is recognised when the customer takes title of the goods. Consultancy and service revenues provided on a time and materials basis are recognised when the services has been performed. For services provided on a fixed price basis, revenue is recognised when the Company has a present right to receive payment for the services performed. Maintenance and warranty renewals are recognised rateably over the period of the contract. When a contract consists of various components that operate independently of each other, the Company recognises revenue for each component as if it were an individual contract.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The estimated useful lives range as follows:
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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.
Debt instruments at amortised cost
Impairment of financial assets
Financial liabilities
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
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in profit or loss, when, and if, better information is obtained. Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustment within the next financial year are included below. Critical judgments that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relates to the following: Revenue recognition Management applies judgment when a contract involves delivery of multiple components. Judgment will be required here to determine whether these should be bundled together or treated as distinct and accounted for as separate performance obligations. It is not expected that this aggregation will change either the period over which revenue is recognised or how the Company's significant revenue streams are classified and reported. For revenue recognised over time, management also applies judgement in assessing the stage of completion of projects at the reporting date. This assessment is dependent on estimates of the total costs required to deliver each project, including forecasted costs to completion. These estimates are inherently uncertain and may change as projects progress, with any revisions potentially impacting the stage of completion and consequently the revenue and profit recognised. Impairment of investment in subsidiaries The Company tests annually whether the carrying value of investment in subsidiaries has suffered any impairment. The recoverable amount has been determined based on value in use calculations. These calculations require the use of estimates. Provisions In recognising provisions, the Company evaluates the extent to which it is probable that it has incurred a legal or constructive obligations in respect of past events and the probability that there will be an outflow of benefits as a result. The judgments used to recognise provisions are based on currently known factors which may vary over time, resulting in changes in the measurement of recorded amounts as compared to initial estimates.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The whole of the turnover is attributable to software consultancy and supply.
Analysis of turnover by country of destination:
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 23
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 24
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
OECD Pillar Two model rules
Ebblo UK Limited (Formerly known as Trapeze ITS U.K. LTD) is within the scope of the OECD Pillar Two model rules. Pillar Two legislation has been enacted in the UK, the jurisdiction in which the entity is incorporated, and is effective in 2025. Under the legislation, the Company is liable to pay a top-up tax in the UK for the difference between the GloBE effective tax rate for each jurisdiction and the 15% minimum rate. In addition, top-up taxes are payable locally where qualifying domestic minimum top-up taxes have been legislated and are in effect. The Company applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023.
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 27
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Tangible fixed assets (continued)
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 29
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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EBBLO UK LIMITED (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Share premium account
Profit and loss account
During the year ended 31 December 2025, management identified an amount related to expenditure that had been recognised within cost of sales and have corrected this in the financial statements, as this relates to non-direct expenditure. The effect of this adjustment on the year ended 31 December 2024 is to decrease cost of sales and increase administrative expenses by £2,505,407. There is no impact on the reported profit.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £159,799 (2024: £131,834).
Contributions totaling £25,895 (2024: £23,924) were payable to the fund at the reporting date and are included in creditors.
The immediate parent company is (FORMERLY KNOWN AS TRAPEZE ITS U.K. LTD), a company incorporated in Denmark.
The largest and smallest group in which the results are consolidated is that headed by Constellation Software Inc. is also the ultimate controlling party of the Company. The consolidated financial statements of Constellation Software Inc. are available to the public and may be obtained from Gary Jonas Computing Ltd, 8133 Warden Ave, Suite 400, Markham, Ontario, Canada, L6G 1B3.
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