Annual Report and Consolidated Financial Accounts
The Access Group is one of the largest UK-headquartered providers of business
management software to small and mid-sized organisations globally. It helps more than
100,000 customers worldwide across commercial and non-profit sectors to become more
productive and efficient.
Its innovative Access Evo and Workspace cloud solutions transform
the way business software is used, giving every customer the freedom to do more of what’s
important to them. Founded in 1991, The Access Group employs more than 8,500 people
worldwide.
At Access, we believe that ambitious organisations should have software that improves working
lives and does not hinder growth. Our innovative software solutions streamline everyday
processes, provide efficiencies that result in material productivity gains and give real-time insights
that allow our customers to act instantly knowing that they have the data they need at their
fingertips, giving everyone the freedom to do more of what is important.
1. General information
Access Technology Group Limited (“the Company”) and together its subsidiaries (“the Group”)
provide a range of principally cloud based integrated business management solutions which best
suit customers’ requirements and enable them to benefit from fully integrated combination of
SaaS and configured work flow applications.
The Company is a private company limited by shares and is incorporated and registered in
England, United Kingdom. The address of its registered office is Armstrong Building Oakwood
Drive, Loughborough University Science & Enterprise Park, Loughborough, England LE11 3QF.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared on a going concern basis under the historical cost
convention, unless otherwise specified within these accounting policies and in accordance with
Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the
Republic of Ireland and the Companies Act 2006.
The Group and Company’s functional and presentational currency is the pound sterling because
that is the currency of the primary economic environment in which it operates. The Group and
Company financial statements are presented in pound sterling and rounded to thousands.
The preparation of these financial statements in compliance with FRS 102 requires the use of
certain critical accounting estimates.
2.2 Basis of consolidation
The consolidated financial statements present the results of the Company and the Group as if
they form a single entity. Intercompany transactions and balances between Group companies are
therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using
the purchase method. In the Statement of Financial Position, the acquiree’s identifiable assets,
liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date.
The results of acquired operations are included in the Consolidated Statement of Comprehensive
Income from the date on which control is obtained.