GRAPHISOFT UK LIMITED 31/12/2021 iXBRL

GRAPHISOFT UK LIMITED - Company Information

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Company registration number: 01405104

GRAPHISOFT UK LIMITED

Filleted financial statements

31 December 2021

GRAPHISOFT UK LIMITED

Contents

Directors and other information

Directors report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

GRAPHISOFT UK LIMITED

Directors and other information


Directors	Mr Adrian Girling
	Mr Andras Haidekker	(Resigned 16 September 2021)
	Mr Gabor Sved
	Mr Huw Wynne Roberts	(Appointed 16 September 2021)


Secretary	Mr Philip Duckling (FCCA)


Company number	01405104


Registered office	Harman House
	George Street
	Uxbridge
	Middlesex
	UB8 1QQ


Auditor	Ashburns Accountants Ltd
	70-72 Victoria Road
	Ruislip
	Middlesex
	HA4 0AH

GRAPHISOFT UK LIMITED

Directors report

Year ended 31 December 2021

The directors present their report and the financial statements of the company for the year ended 31 December 2021.

Directors

The directors who served the company during the year were as follows:


Mr Adrian Girling
Mr Andras Haidekker				(Resigned 16 September 2021)
Mr Gabor Sved
Mr Huw Wynne Roberts				(Appointed 16 September 2021)

The directors holding office at 31 December 2021 did not hold any beneficial interest in the issued share capital of the company at 1 January 2021 or 31 December 2021.

Directors responsibilities statement

The directors are responsible for preparing 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 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 judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 February 2022 and signed on behalf of the board by:

Mr Adrian Girling

Director

GRAPHISOFT UK LIMITED

Statement of financial position

31 December 2021

		2021		2020
	Note	£	£	£	£

Fixed assets
Intangible assets	5	20,531		61,161
Tangible assets	6	16,340		25,704
		_______		_______
			36,871		86,865

Current assets
Debtors	7	129,879		766,043
Cash at bank and in hand		1,577,449		832,199
		_______		_______
		1,707,328		1,598,242
Creditors: amounts falling due
within one year	8	( 1,388,534)		( 1,407,838)
		_______		_______
Net current assets			318,794		190,404
			_______		_______
Total assets less current liabilities			355,665		277,269

Creditors: amounts falling due
after more than one year	9		-		( 20,181)
			_______		_______
Net assets			355,665		257,088
			_______		_______

Capital and reserves
Called up share capital			2,407,500		2,407,500
Share premium account			98,675		98,675
Profit and loss account			( 2,150,510)		( 2,249,087)
			_______		_______
Shareholders funds			355,665		257,088
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 February 2022 , and are signed on behalf of the board by:

Mr Adrian Girling

Director

Company registration number: 01405104

GRAPHISOFT UK LIMITED

Statement of changes in equity

Year ended 31 December 2021

	Called up share capital	Share premium account	Profit and loss account	Total
	£	£	£	£


At 1 January 2020	1,857,500	98,675	( 2,131,792)	( 175,617)

Profit/(loss) for the year			( 117,295)	( 117,295)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 117,295)	( 117,295)

Issue of shares	550,000	-		550,000
	_______	_______	_______	_______
Total investments by and distributions to owners	550,000	-	-	550,000

	_______	_______	_______	_______
At 31 December 2020 and 1 January 2021	2,407,500	98,675	(2,249,086)	257,089

Profit/(loss) for the year			98,576	98,576
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	98,576	98,576

	_______	_______	_______	_______
At 31 December 2021	2,407,500	98,675	( 2,150,510)	355,665
	_______	_______	_______	_______

GRAPHISOFT UK LIMITED

Notes to the financial statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Harman House, George Street, Uxbridge, Middlesex, UB8 1QQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2020: 18 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 January 2021 and 31 December 2021	841,308	841,308
	_______	_______
Amortisation
At 1 January 2021	780,147	780,147
Charge for the year	40,630	40,630
	_______	_______
At 31 December 2021	820,777	820,777
	_______	_______
Carrying amount
At 31 December 2021	20,531	20,531
	_______	_______
At 31 December 2020	61,161	61,161
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Computer Equipment	Total
	£	£	£	£
Cost
At 1 January 2021	14,723	72,511	61,841	149,075
Additions	-	-	13,115	13,115
	_______	_______	_______	_______
At 31 December 2021	14,723	72,511	74,956	162,190
	_______	_______	_______	_______
Depreciation
At 1 January 2021	14,723	49,074	59,574	123,371
Charge for the year	-	14,502	7,977	22,479
	_______	_______	_______	_______
At 31 December 2021	14,723	63,576	67,551	145,850
	_______	_______	_______	_______
Carrying amount
At 31 December 2021	-	8,935	7,405	16,340
	_______	_______	_______	_______
At 31 December 2020	-	23,437	2,267	25,704
	_______	_______	_______	_______

7. Debtors

	2021	2020
	£	£
Trade debtors	33,476	136,114
Other debtors	96,403	629,929
	_______	_______
	129,879	766,043
	_______	_______

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	158,446	344,635
Social security and other taxes	166,657	100,472
Other creditors	1,063,431	962,731
	_______	_______
	1,388,534	1,407,838
	_______	_______

9. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Other creditors	-	20,181
	_______	_______

10. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	57,375	62,329
Later than 1 year and not later than 5 years	156,302	23,450
	_______	_______
	213,677	85,779
	_______	_______

At 31 December 2021 the Company had future minimum lease payments under non-cancellable operating leases. Uxbride office rental untill 4.12.2026 Notts Office rental until 31.10.2022

11. Summary audit opinion

The auditor's report for the year dated 17 February 2022 was unqualified.

The senior statutory auditor was Salim S Haji for and on behalf of Ashburns Accountants Ltd

12. Related party transactions

During the year the company made purchases on normal commercial terms of £1,141,628 (2020£544,641) from Graphisoft SE, a company registered in Hungary, £Nil (2020 £Nil) from Graphisoft Germany and £Nil (2020 £13,665) from Graphisoft Hong Kong.During the year the company alloted £Nil (2020: £550,000) of shares to GSSE.At the year end the company's total loan to GSSE was £Nil (2020 £550,000).At the year end the companies indebtedness to GSEE was £137,194 (2020 £329,712).At the year end the companies indebtedness to GSHK was £112 (2020 £211,008).There were no dealings with Nemetschek AG .

13. Controlling party

The controlling party is Graphisoft SE, Zahony 7, Budapest, Hungary.The ultimate controlling party is Nemetschek AB-a company registered and listed in Germany.The ultimate parent company, Graphisoft SE has confirmed that it will continue to give financial support to the company until such time as its financial position improves. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the parent company financial support were withdrawn.