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Annual Report and Consolidated Financial Accounts
The Access Group is one of the largest UK-headquartered business management software providers. It provides solutions that empower more than 160,000 small and mid-sized organisations in commercial and non-profit sectors across Europe, USA and APAC.
Its innovative cloud solutions and integrated AI software experience across multiple Access products transform how business technology is used. Access employs over 9,700 people, continuously driving product innovation and customer service excellence.
At Access, we believe that ambitious organisations deserve software that accelerates growth and enhances working lives. Our innovative AI-enabled software solutions streamline everyday processes, provide efficiencies that result in material productivity gains, and deliver real-time insights that allow our customers to act instantly with confidence. Through intelligent automation and data integration, we transform how businesses operate, giving everyone the freedom to do more of what's important to them while adapting seamlessly to their evolving needs.
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.