Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
COMPANY INFORMATION
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ERWIN TECHNOLOGIES UK LIMITED
CONTENTS
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ERWIN TECHNOLOGIES UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The directors present their Strategic Report for the year ended 31 December 2020.
Erwin Technologies UK Limited provides Enterprise Architectural software solutions that are complementary to the US based parent's products. The principal activities of the company include: the design and development of computer software; the sale of computer software and the provision of related consultancy and training services; performing sales, marketing, development and support services exclusively for its US based parent, which reimburses it for the cost of these services.
Over 350 corporations worldwide actively use the Casewise toolset to help document, model, articulate, visualise, communicate, measure their business processes, their business architectures and their systems. Helping large corporations understand better their operations, and how they can improve efficiency and effectiveness of those operations is at the heart of our DNA. For most organisations their ability to, compete, execute on their customer promises of time and quality, deliver an adequate return on their capital, provide confidence on their ability to comply, is totally dependent on the way their processes execute. Organisational processes are the key to organisational excellence. We provide many of our customers, the ability to draw and to test the road map of their journey to operational excellence, which is why we are critical to the success of the corporate world. The director will continue to innovate, improve and develop the company's product range in order to fulfil the need of its customers in an efficient and profitable manner. On 31 December 2020 the company's immediate parent company Erwin, Inc., a company incorporated in the United States of America, was purchased by Quest Software Inc., a company incorporated in the United States of America. From that date the company's ultimate controlling party is Seahawk Holdings (Cayman) Limited, a company registered in the Cayman Islands. The COVID-19 coronavirus pandemic spread across the globe in 2020. It is causing significant financial markets and economic along with social disturbances globally and in the UK, including significant disruption to business and economic activity. The director will continue to monitor the risk.
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ERWIN TECHNOLOGIES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The management of the business and the nature of the company's strategy are subject to a number of risks. The directors of the business set out below the principal risks of the company:
A significant proportion of our turnover relates to customers outside the UK. As a company, we are therefore exposed to fluctuations in foreign currency. The directors continually monitor this but at present do not believe that this risk necessitates the use of forward exchange contracts or other financial instruments. The BPA, EA and Compliance markets are highly competitive with downward pressures on pricing. Policies of constant price monitoring and ongoing market research are in place to mitigate these risks. The Seahawk Holdings (Cayman) Limited group, of which the company is now a member of, is pursuing a strategy of providing end to end solutions in order to meet the needs of customers and this is a key part of the company’s risk mitigation approach. The company uses a range of information technology and decision support systems for provision of key services, control procedures and financial management. These systems are constantly reviewed and updated to meet the needs of the company. Business continuity and disaster recovery planning is regularly assessed and tested to ensure the company is adequately resourced and maintains an appropriately robust environment including preventative processes on cybercrime. The employees of the company are highly skilled. Retaining existing employees and attracting new or replacement staff can present challenges. Any significant loss of employees could ultimately affect the company’s ability to trade as efficiently as it would wish. The Director is of an opinion that thorough risk management processes are in place to monitor and mitigate such risks.
The key performance indicator is operating profit which was a loss of £322,701 (2019 - £309,177 profit) for the year ended 31 December 2020.
This report was approved by the board
and signed on its behalf.
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ERWIN TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
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 judgments and accounting estimates that are reasonable and prudent;
∙
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 to 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.
The loss for the year, after taxation, amounted to £
343,789
(2019 -
profit
£
591,716
)
.
There were no dividends paid for the year ended 31 December 2020 (2019: £nil).
The directors who served during the year were:
The company expects to continue to invest in its products and services to remain competitive in the market. In addition, the current dynamic market, including the impact of COVID-19, could create some uncertainty over the level of demand for the company’s products.
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ERWIN TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The company uses various financial instruments including intercompany balances, operating leases, cash and various items, such as trade debtors and trade creditors that arise from its operations. The main purpose of the financial instruments is to raise finance for the company’s operations.
The main risks arising from the company’s financial instruments are liquidity risk and credit risk. The directors review and agree policies for managing each of these risks and they are summarised below. Liquidity risk The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. The company policy throughout the period has been to ensure continuity of funding using a mixture of long term and short term debt finance as well as intercompany funding. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument, leading to a financial loss. Regular management reviews are made to assess the recoverability of amounts and provision made accordingly. The carrying amount of financial assets represents the maximum exposure. No financial assets are considered to be past due nor impaired.
The strategic report contains the business review, principal risks and uncertainties and key performance indicators.
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ERWIN TECHNOLOGIES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The Coronavirus pandemic which began in early 2020 continues to have a significant impact on the economy and businesses across the world. The directors' assessment of the impact of the pandemic is included in the strategic report.
The director, after making enquiries and having regard to the company’s financial position, the company’s expected trading performance and cash flows, have a reasonable expectation that the company has adequate resources to continue operating for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis. The company meets its day-to-day working capital requirements through its cash inflows from operations. In particular, the director has continued to assess the impact of the COVID-19 measures being implemented by the Government in the UK, the company and the Quest Group. In arriving at its conclusion, the Board has taken account of the level of intercompany financing and cash resources which the company maintains to enable it to meet its working capital requirements. The Board have also assessed the impact of the outbreak on its financial and trading outlook, and considered this on its cash flows, along with appropriate mitigations. The director acknowledge that the company is in a net current liabilities position at year-end and it has obtained a letter of support from its immediate parent company, Erwin Inc. that it will meet any liability that will fall due for a period of at least 12 months from the date of approval of these financial statements. For this reason, the going concern basis continues to be adopted in preparing the financial statements. Given the nature of the event, the ultimate extent of the effect on the company of the measures taken in UK and globally to contain the spread of COVID-19 can still not be fully determined or quantified at present. The director will continue to monitor any significant adverse changes to cash flows, any adverse indicators in respect of the carrying value of assets and additional liabilities as a result of this pandemic, and take appropriate measures to address these matters, if required. As at 31 December 2020, an amount of £5,636,473 was owed to Erwin, Inc. the company's immediate parent company. Since 31 December 2020, it has been agreed to convert the intercompany creditor due to Erwin, Inc. in to additional share captal issued at par in Erwin Technologies UK Limited. There have been no other significant events affecting the company since the financial year end requiring disclosure in the financial statements.
The auditors, Feltons Chartered Accountants and Statutory Auditor, 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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ERWIN TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ERWIN TECHNOLOGIES UK LIMITED
We have audited the financial statements of Erwin Technologies UK Limited (the 'Company') for the year ended 31 December 2020, which comprise the Statement of comprehensive income, the Balance sheet, 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.
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ERWIN TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ERWIN TECHNOLOGIES UK LIMITED (CONTINUED)
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.
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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ERWIN TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ERWIN TECHNOLOGIES UK LIMITED (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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. • We obtained an understanding of laws and regulations that could reasonably be expected to have a material effect on the financial statements through discussion with management and those charged with governance, including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items. • We inquired of management and those charged with governance as to any known instances of non- compliance or suspected non-compliance with laws and regulations. We remained alert to any indications of non-compliance throughout the audit. • We addressed the risk of fraud through management override by reviewing the appropriateness of a sample of journal entries and other adjustments; assessing whether the judgements made in making key accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business that we come across throughout the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. Our examination should not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance as may exist. 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.
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.
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ERWIN TECHNOLOGIES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ERWIN TECHNOLOGIES UK LIMITED (CONTINUED)
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
1 The Green
Surrey
TW9 1PL
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ERWIN TECHNOLOGIES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
REGISTERED NUMBER:
10313109
BALANCE SHEET
AS AT
31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
REGISTERED NUMBER:
10313109
BALANCE SHEET
(CONTINUED)
AS AT
31 DECEMBER 2020
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 35 form part of these financial statements.
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ERWIN TECHNOLOGIES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2019
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Erwin Technologies UK Limited is a private company limited by shares and is registered in England and Wales. The address of the registered office is 5th Floor, 1 New Change, London, EC4M 9AF.
On 31 December 2020 the company's immediate parent company Erwin, Inc., a company incorporated in the United States of America, was purchased by Quest Software Inc., a company incorporated in the United States of America. From that date the company's ultimate controlling party is Seahawk Holdings (Cayman) Limited, a company registered in the Cayman Islands.
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 judgment in applying the Company's accounting policies (see note 3).
As permitted by FRS 101, the company has taken advantage of the disclosure exemptions available under that standard in relation to business combinations, share-based payment, non-current assets held for sale, financial instruments, fair value measurements, capital management, presentation of comparative information in respect of certain assets, presentation of a cash-flow statement, standards not yet effective, impairment of assets and related party transaction.
The following principal accounting policies have been applied:
The director, after making enquiries and having regard to the company’s financial position, the company’s expected trading performance and cash flows, have a reasonable expectation that the company has adequate resources to continue operating for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis.
The company meets its day-to-day working capital requirements through its cash inflows from operations. In particular, the director has continued to assess the impact of the COVID-19 measures being implemented by the Government in the UK, the company and the Quest Group. In arriving at its conclusion, the Board has taken account of the level of intercompany financing and cash resources which the company maintains to enable it to meet its working capital requirements. The Board have also assessed the impact of the outbreak on its financial and trading outlook, and considered this on its cash flows, along with appropriate mitigations. The director acknowledge that the company is in a net current liabilities position at year-end and it has obtained a letter of support from its immediate parent company, Erwin Inc. that it will meet any liability that will fall due for a period of at least 12 months from the date of approval of these financial statements. For this reason, the going concern basis continues to be adopted in preparing the financial statements.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
The company was, at the end of the year, a wholly-owned subsidiary of another company incorporated outside the EEA and in accordance with Section 401 of the Companies Act 2006, is not required to produce, and has not published, consolidated accounts.
Copies of the Group's financial statements for Seahawk Holdings (Cayman) Limited, a company registered in the Cayman Islands, can be obtained from Francisco Partners IV.LP, One Letterman Drive, Building C – Suite 410, San Francisco, CA 94129 USA.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
The estimated useful lives range as follows:
Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued. When a business combination agreement provides for an adjustment to the cost of the combination which is contingent on future events, the company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. However, if the potential adjustment is not recognised at the acquisition date but subsequently becomes probable and can be measured reliably, the additional consideration shall be treated as an adjustment to the cost of the combination. Changes in the estimated value of contingent consideration arising on business combinations completed as a consequence result in a change in the carrying value of the related goodwill. Goodwill is capitalised as an intangible asset and is not amortised. Instead it is reviewed annually for impairment with any impairment in carrying value being charged to profit or loss. The Companies Act 2006 requires acquired goodwill to be reduced by provisions for depreciation calculated to write off the amount systematically over a period chosen by the directors, not exceeding its useful economic life. It has been deemed, however, the non-amortisation of goodwill is a departure, for the overriding purpose of giving a true and fair view. The effect of this departure has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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.
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.
Fair value through profit or loss
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
Impairment of financial assets
Financial liabilities
Fair value through profit or loss
At amortised cost
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
The Company discloses transactions with related parties which are not wholly owned within the same Group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the director, separate disclosure is necessary to understand the effect of the transactions on the financial statements.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision effects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Critical judgments in applying the Company's accounting policies The critical judgments that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below: (i) Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterpart credit ratings and experience of recoverability. There have been no indicators of impairment identified during the current financial year. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: (i) Recoverability of receivables If necessary, the company establishes a provision for receivables that are estimated not to be recoverable. When assessing the recoverability the directors consider factors such as aging of receivables, past experience of recoverability, and the credit profile of an individual or groups of customers. (ii) Intangible assets The company establishes a reliable estimate of the useful life of Intangible assets arising on business combinations. This estimate is based on a variety of factors such as the expected useful life of the cash generating units to which goodwill and other intangible assets are attributed and any legal, regulatory or contractual provisions that can limit useful life.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
11.
Taxation (continued)
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Profit and loss account
paid and other adjustments.
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 £65,616 (2019 - £58,535). Contributions totalling £13,316 (2019 - £11,327) were payable to the fund at the balance sheet date and are included in creditors.
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ERWIN TECHNOLOGIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The company is a wholly-owned subsidiary of Erwin, Inc. a company incorporated in the United States of America and is its immediate parent company.
The ultimate controlling parent is Seahawk Holdings (Cayman) Limited, a company registered in the Cayman Islands. Seahawk Holdings (Cayman) Limited is the head of the group for which consolidated accounts are prepared, of which Erwin Technologies UK Limited is a member.
As the company was, at the end of the year, a wholly-owned subsidiary of another company incorporated outside the EEA, in accordance with Section 401 of the Companies Act 2006, it is not required to produce, and has not published, consolidated accounts.
Copies of the Group's financial statements for Seahawk Holdings (Cayman) Limited can be obtained from Francisco Partners IV.LP, One Letterman Drive, Building C – Suite 410, San Francisco, CA 94129 USA.
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