2023 | 2022 | |||
Closing | Average | Closing | Average | |
USD | 1.27 | 1.24 | 1.21 | 1.24 |
EUR | 1.15 | 1.15 | 1.13 | 1.17 |
NZD | 2.01 | 2.02 | 1.90 | 1.95 |
AUD | 1.87 | 1.87 | 1.77 | 1.78 |
2023 | 2022 | |||
Closing | Average | Closing | Average | |
USD | 1.27 | 1.24 | 1.21 | 1.24 |
EUR | 1.15 | 1.15 | 1.13 | 1.17 |
NZD | 2.01 | 2.02 | 1.90 | 1.95 |
AUD | 1.87 | 1.87 | 1.77 | 1.78 |
2023 | 2022 | |||
Closing | Average | Closing | Average | |
USD | 1.27 | 1.24 | 1.21 | 1.24 |
EUR | 1.15 | 1.15 | 1.13 | 1.17 |
NZD | 2.01 | 2.02 | 1.90 | 1.95 |
AUD | 1.87 | 1.87 | 1.77 | 1.78 |
Area | Exposure arising from | Measurement | Management |
| Market risk \u2013 | Contracted revenue and costs | Cash flow forecasting and | Natural hedging from |
| foreign exchange | denominated in a currency | foreign exchange sensitivity | localised cost base and |
| other than the entity\u2019s | conversion of foreign currency | ||
| functional currency; and | cash balances into pounds | ||
| sterling | |||
| Monetary assets and | |||
| liabilities denominated in | Use of forward contracts | ||
| a currency other than the entity\u2019s | to manage some of the | ||
| functional currency. | foreign exchange risk (these are | ||
| not hedge accounted) | |||
Credit risk \u2013 cash balances | Cash and cash equivalents | Credit ratings | Diversification of bank deposits |
| Credit risk \u2013 customer | Trade receivables and | Ageing analysis | Credit checks and |
| receivables | accrued income | contractual payment terms | |
| Credit ratings | |||
Liquidity | Cash and cash equivalents | Daily cash reporting | Cash forecasting and managing |
| maturity of cash deposits |
| 31 December 2023 | ||||||
| Less than | Between 6 to | Between 1 to 2 | Between 2 to 5 | More than 5 | ||
\u00a3m | Total | 6 months | 12 months | years | years | years |
Trade and other payables | 8.0 | 8.0 | \u2013 | \u2013 | \u2013 | \u2013 |
Lease liabilities \u2013 future lease payments | 9.3 | 0.8 | 0.9 | 1.6 | 4.6 | 1.4 |
| 31 December 2022 | ||||||
| Less than | Between 6 to | Between 1 to 2 | Between 2 to 5 | More than 5 | ||
\u00a3m | Total | 6 months | 12 months | years | years | years |
Trade and other payables | 7.6 | 7.6 | \u2013 | \u2013 | \u2013 | \u2013 |
Lease liabilities \u2013 future lease payments | 10.9 | 0.9 | 0.9 | 1.7 | 4.6 | 2.8 |
| 31 December 2023 | ||||||
| Less than | Between 6 to | Between 1 to 2 | Between 2 to 5 | More than 5 | ||
\u00a3m | Total | 6 months | 12 months | years | years | years |
Trade and other payables | 8.0 | 8.0 | \u2013 | \u2013 | \u2013 | \u2013 |
Lease liabilities \u2013 future lease payments | 9.3 | 0.8 | 0.9 | 1.6 | 4.6 | 1.4 |
| 31 December 2022 | ||||||
| Less than | Between 6 to | Between 1 to 2 | Between 2 to 5 | More than 5 | ||
\u00a3m | Total | 6 months | 12 months | years | years | years |
Trade and other payables | 7.6 | 7.6 | \u2013 | \u2013 | \u2013 | \u2013 |
Lease liabilities \u2013 future lease payments | 10.9 | 0.9 | 0.9 | 1.7 | 4.6 | 2.8 |
\u00a3m | 2023 | 2022 |
Subscription | 31.8 | 27.4 |
Software | 15.6 | 16.3 |
Services | 54.6 | 49.6 |
Total revenue | 102.0 | 93.3 |
| 2023 | Total | |||
\u00a3m | Subscription | Software | Services | revenue |
At a point in time \u2013 time and materials | \u2013 | 9.8 | 39.3 | 49.1 |
At a point in time \u2013 fixed price | \u2013 | 0.5 | \u2013 | 0.5 |
Over time \u2013 time and materials | \u2013 | 3.5 | 15.3 | 18.8 |
Over time \u2013 fixed price | 31.8 | 1.8 | \u2013 | 33.6 |
Total revenue | 31.8 | 15.6 | 54.6 | 102.0 |
| 2022 | Total | |||
\u00a3m | Subscription | Software | Services | revenue |
At a point in time \u2013 time and materials | \u2013 | 8.9 | 33.1 | 42.0 |
At a point in time \u2013 fixed price | \u2013 | 0.4 | 0.4 | 0.8 |
Over time \u2013 time and materials | \u2013 | 6.1 | 16.1 | 22.2 |
Over time \u2013 fixed price | 27.4 | 0.9 | \u2013 | 28.3 |
Total revenue | 27.4 | 16.3 | 49.6 | 93.3 |
\u00a3m | 2023 | 2022 |
UK | 38.1 | 31.0 |
USA | 33.6 | 33.6 |
Rest of EMEA (excl. UK) | 23.1 | 21.3 |
Rest of World | 7.2 | 7.4 |
Total revenue | 102.0 | 93.3 |
\u00a3m | 2023 | 2022 |
| GBP | 46.3 | 39.0 |
| USD | 34.6 | 34.3 |
| Euro | 13.9 | 12.6 |
| Other | 7.2 | 7.4 |
| Total revenue | 102.0 | 93.3 |
\u00a3m | 2023 | 2022 |
| Contract liabilities \u2013 deferred licence and fees | 8.0 | 8.6 |
| Contract liabilities \u2013 deferred maintenance | 6.2 | 6.2 |
| Total contract liabilities | 14.2 | 14.8 |
\u00a3m | 2023 | 2022 |
UK | 35.7 | 34.4 |
USA | 1.0 | 1.2 |
Rest of World | 0.1 | 0.3 |
Total non-current assets | 36.8 | 35.9 |
\u00a3m | 2023 | 2022 |
UK | 38.1 | 31.0 |
USA | 33.6 | 33.6 |
Rest of EMEA (excl. UK) | 23.1 | 21.3 |
Rest of World | 7.2 | 7.4 |
Total revenue | 102.0 | 93.3 |
| 2023 | Total | |||
\u00a3m | Subscription | Software | Services | revenue |
At a point in time \u2013 time and materials | \u2013 | 9.8 | 39.3 | 49.1 |
At a point in time \u2013 fixed price | \u2013 | 0.5 | \u2013 | 0.5 |
Over time \u2013 time and materials | \u2013 | 3.5 | 15.3 | 18.8 |
Over time \u2013 fixed price | 31.8 | 1.8 | \u2013 | 33.6 |
Total revenue | 31.8 | 15.6 | 54.6 | 102.0 |
| 2022 | Total | |||
\u00a3m | Subscription | Software | Services | revenue |
At a point in time \u2013 time and materials | \u2013 | 8.9 | 33.1 | 42.0 |
At a point in time \u2013 fixed price | \u2013 | 0.4 | 0.4 | 0.8 |
Over time \u2013 time and materials | \u2013 | 6.1 | 16.1 | 22.2 |
Over time \u2013 fixed price | 27.4 | 0.9 | \u2013 | 28.3 |
Total revenue | 27.4 | 16.3 | 49.6 | 93.3 |
\u00a3m | 2023 | 2022 |
UK | 38.1 | 31.0 |
USA | 33.6 | 33.6 |
Rest of EMEA (excl. UK) | 23.1 | 21.3 |
Rest of World | 7.2 | 7.4 |
Total revenue | 102.0 | 93.3 |
\u00a3m | 2023 | 2022 |
| GBP | 46.3 | 39.0 |
| USD | 34.6 | 34.3 |
| Euro | 13.9 | 12.6 |
| Other | 7.2 | 7.4 |
| Total revenue | 102.0 | 93.3 |
\u00a3m | 2023 | 2022 |
| Contract liabilities \u2013 deferred licence and fees | 8.0 | 8.6 |
| Contract liabilities \u2013 deferred maintenance | 6.2 | 6.2 |
| Total contract liabilities | 14.2 | 14.8 |
\u00a3m | 2023 | 2022 |
Research and development costs | 3.1 | 2.2 |
Depreciation of property, plant and equipment | 0.6 | 0.5 |
Depreciation of right-of-use lease assets | 1.2 | 1.7 |
Amortisation of intangible assets | 0.7 | 0.8 |
Foreign exchange loss/(gain) | 0.1 | (1.1) |
Forward foreign exchange contracts (gain) | (0.4) | \u2013 |
Share-based payments (including social security contributions) | 1.6 | 1.8 |
RDEC tax credit* | (0.5) | \u2013 |
Costs related to possible offers ** | 0.6 | \u2013 |
\u00a3m | 2023 | 2022 |
Research and development costs | 3.1 | 2.2 |
Depreciation of property, plant and equipment | 0.6 | 0.5 |
Depreciation of right-of-use lease assets | 1.2 | 1.7 |
Amortisation of intangible assets | 0.7 | 0.8 |
Foreign exchange loss/(gain) | 0.1 | (1.1) |
Forward foreign exchange contracts (gain) | (0.4) | \u2013 |
Share-based payments (including social security contributions) | 1.6 | 1.8 |
RDEC tax credit* | (0.5) | \u2013 |
Costs related to possible offers ** | 0.6 | \u2013 |
\u00a3m | 2023 | 2022 |
| Audit fees | ||
| RSM UK Audit LLP | ||
Audit of the consolidated financial statements | 0.2 | 0.2 |
Audit of subsidiaries | 0.2 | 0.2 |
Total audit fees | 0.4 | 0.4 |
| Audit-related assurance fees | ||
Review of interim financial report | 0.1 | 0.1 |
Total audit-related assurance fees | 0.1 | 0.1 |
Non-audit services | \u2013 | \u2013 |
Total audit and non-audit-related services | 0.5 | 0.5 |
\u00a3m | 2023 | 2022 |
Wages and salaries | 38.5 | 34.8 |
Social security contributions (on wages and salaries) | 5.1 | 4.4 |
Pension costs | 3.2 | 2.6 |
Profit share pay* | 3.8 | 3.5 |
Share-based payments** | 1.6 | 1.8 |
Total employment costs | 52.2 | 47.1 |
Average monthly number of people employed based on location (including Executive Directors) | 2023 | 2022 |
UK | 334 | 307 |
USA | 86 | 75 |
Rest of World | 43 | 38 |
Total average monthly number of people employed | 463 | 420 |
\u00a3m | 2023 | 2022 |
Wages, salaries and short-term benefits | 2.1 | 2.7 |
Social security contributions | 0.2 | 0.3 |
Post-employment benefits | \u2013 | 0.1 |
Share-based payments* | 1.0 | 1.1 |
Total key management compensation | 3.3 | 4.2 |
\u00a3m | 2023 | 2022 |
| Audit fees | ||
| RSM UK Audit LLP | ||
Audit of the consolidated financial statements | 0.2 | 0.2 |
Audit of subsidiaries | 0.2 | 0.2 |
Total audit fees | 0.4 | 0.4 |
| Audit-related assurance fees | ||
Review of interim financial report | 0.1 | 0.1 |
Total audit-related assurance fees | 0.1 | 0.1 |
Non-audit services | \u2013 | \u2013 |
Total audit and non-audit-related services | 0.5 | 0.5 |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Finance income | ||
Interest income on cash or short-term bank deposits | 0.3 | \u2013 |
\u00a3m | Note | 2023 | 2022 |
| Finance expense | |||
Interest on lease liabilities | 24 | (0.4) | (0.6) |
Other interest expense | (0.1) | \u2013 | |
Total finance expense | (0.5) | (0.6) |
\u00a3m | 2023 | 2022 |
| Current tax: | ||
Current tax on profit for the year | 6.1 | 5.2 |
Adjustment in respect of prior years | (1.2) | (1.4) |
Foreign tax on profit of subsidiaries for the current year | 0.5 | 0.3 |
Current tax | 5.4 | 4.1 |
| Deferred tax: | ||
Origination and reversal of temporary differences | 0.7 | 0.2 |
Adjustment in respect of prior years | \u2013 | 0.1 |
Deferred tax | 0.7 | 0.3 |
Total tax charge in the year | 6.1 | 4.4 |
\u00a3m | 2023 | 2022 |
Profit on ordinary activities before taxation | 29.6 | 28.9 |
Profit on ordinary activities at the standard rate of corporation tax \u2013 23.5% (2022: 19.0%) | 7.0 | 5.5 |
| Tax effects of: | ||
Effect of different tax rates of subsidiaries operating in other jurisdictions | \u2013 | 0.1 |
Adjustment in respect of prior years | (1.2) | (1.3) |
Impact of disallowable items | 0.2 | \u2013 |
Other | 0.1 | 0.1 |
Total tax charge for the year | 6.1 | 4.4 |
\u00a3m | 2023 | 2022 |
Balance as at 1 January | 1.6 | 1.8 |
Effect of changes in tax rates | (0.1) | \u2013 |
Adjustments in respect of prior period | \u2013 | (0.1) |
| Deferred income taxes recognised in the consolidated statement of profit or loss | ||
and comprehensive income | (0.7) | (0.2) |
Deferred tax on share-based payments recognised in reserves | (0.5) | 0.1 |
Balance as at 31 December | 0.3 | 1.6 |
| Consisting of: | ||
Depreciation in excess of capital allowances | (0.1) | (0.1) |
Other timing differences | 0.4 | 1.7 |
Balance as at 31 December | 0.3 | 1.6 |
2023 | 2022 | |
Profit attributable to equity holders of Alfa (\u00a3m) | 23.5 | 24.5 |
Weighted average number of shares outstanding during the year | 294,462,166 | 296,309,874 |
Basic earnings per share (pence per share) | 7.99 | 8.24 |
Weighted average number of shares outstanding including potentially dilutive shares | 298,119,816 | 302,038,789 |
Diluted earnings per share (pence per share) | 7.90 | 8.09 |
\u00a3m | Note | 2023 | 2022 |
| Financial assets | |||
| Financial assets at amortised cost: | |||
Trade receivables | 20 | 5.6 | 8.9 |
Other financial assets at amortised cost | 21 | 4.9 | 6.7 |
Cash and cash equivalents | 22 | 21.8 | 18.7 |
Total financial assets | 32.3 | 34.3 | |
| Financial liabilities | |||
| Financial liabilities at amortised cost: | |||
Trade and other payables | 23 | 8.0 | 7.6 |
Lease liabilities | 24 | 8.2 | 9.3 |
Total financial liabilities | 16.2 | 16.9 |
| 31 December 2023 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 5.5 | (0.9) | 4.6 |
Contract liabilities \u2013 deferred licence | (8.9) | 0.9 | (8.0) |
| 31 December 2022 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 15.6 | (9.1) | 6.5 |
Contract liabilities \u2013 deferred licence | (17.7 ) | 9.1 | (8.6) |
\u00a3m | Note | 2023 | 2022 |
| Financial assets | |||
| Financial assets at amortised cost: | |||
Trade receivables | 20 | 5.6 | 8.9 |
Other financial assets at amortised cost | 21 | 4.9 | 6.7 |
Cash and cash equivalents | 22 | 21.8 | 18.7 |
Total financial assets | 32.3 | 34.3 | |
| Financial liabilities | |||
| Financial liabilities at amortised cost: | |||
Trade and other payables | 23 | 8.0 | 7.6 |
Lease liabilities | 24 | 8.2 | 9.3 |
Total financial liabilities | 16.2 | 16.9 |
\u00a3m | Note | 2023 | 2022 |
| Financial assets | |||
| Financial assets at amortised cost: | |||
Trade receivables | 20 | 5.6 | 8.9 |
Other financial assets at amortised cost | 21 | 4.9 | 6.7 |
Cash and cash equivalents | 22 | 21.8 | 18.7 |
Total financial assets | 32.3 | 34.3 | |
| Financial liabilities | |||
| Financial liabilities at amortised cost: | |||
Trade and other payables | 23 | 8.0 | 7.6 |
Lease liabilities | 24 | 8.2 | 9.3 |
Total financial liabilities | 16.2 | 16.9 |
\u00a3m | 2023 | 2022 |
| Cost | ||
At 1 January | 24.7 | 24.7 |
At 31 December | 24.7 | 24.7 |
| Internally | |||
| Computer | generated | ||
| \u00a3m | software | software | Total |
| Cost | |||
At 1 January 2022 | 1.6 | 3.1 | 4.7 |
Additions | 0.1 | 1.5 | 1.6 |
Disposals | \u2013 | (0.3) | (0.3) |
At 31 December 2022 | 1.7 | 4.3 | 6.0 |
| Amortisation | |||
At 1 January 2022 | 0.9 | 1.4 | 2.3 |
Charge for the period | 0.1 | 0.7 | 0.8 |
Disposals | \u2013 | \u2013 | \u2013 |
At 31 December 2022 | 1.0 | 2.1 | 3.1 |
| Net book value | |||
At 31 December 2022 | 0.7 | 2.2 | 2.9 |
| Cost | |||
At 1 January 2023 | 1.7 | 4.3 | 6.0 |
Additions | \u2013 | 2.8 | 2.8 |
At 31 December 2023 | 1.7 | 7.1 | 8.8 |
| Amortisation | |||
At 1 January 2023 | 1.0 | 2.1 | 3.1 |
Charge for the period | 0.1 | 0.6 | 0.7 |
At 31 December 2023 | 1.1 | 2.7 | 3.8 |
| Net book value | |||
At 31 December 2023 | 0.6 | 4.4 | 5.0 |
\u00a3m | 2023 | 2022 |
| Cost | ||
At 1 January | 24.7 | 24.7 |
At 31 December | 24.7 | 24.7 |
| Internally | |||
| Computer | generated | ||
| \u00a3m | software | software | Total |
| Cost | |||
At 1 January 2022 | 1.6 | 3.1 | 4.7 |
Additions | 0.1 | 1.5 | 1.6 |
Disposals | \u2013 | (0.3) | (0.3) |
At 31 December 2022 | 1.7 | 4.3 | 6.0 |
| Amortisation | |||
At 1 January 2022 | 0.9 | 1.4 | 2.3 |
Charge for the period | 0.1 | 0.7 | 0.8 |
Disposals | \u2013 | \u2013 | \u2013 |
At 31 December 2022 | 1.0 | 2.1 | 3.1 |
| Net book value | |||
At 31 December 2022 | 0.7 | 2.2 | 2.9 |
| Cost | |||
At 1 January 2023 | 1.7 | 4.3 | 6.0 |
Additions | \u2013 | 2.8 | 2.8 |
At 31 December 2023 | 1.7 | 7.1 | 8.8 |
| Amortisation | |||
At 1 January 2023 | 1.0 | 2.1 | 3.1 |
Charge for the period | 0.1 | 0.6 | 0.7 |
At 31 December 2023 | 1.1 | 2.7 | 3.8 |
| Net book value | |||
At 31 December 2023 | 0.6 | 4.4 | 5.0 |
| Fixtures and | |||
| \u00a3m | fittings | IT equipment | Total |
| Cost | |||
At 1 January 2022 | 1.2 | 3.5 | 4.7 |
Additions | 0.4 | 0.3 | 0.7 |
Disposals | (0.1) | \u2013 | (0.1) |
At 31 December 2022 | 1.5 | 3.8 | 5.3 |
| Depreciation | |||
At 1 January 2022 | 0.8 | 3.1 | 3.9 |
Charge for the year | 0.2 | 0.3 | 0.5 |
Disposals | (0.1) | \u2013 | (0.1) |
At 31 December 2022 | 0.9 | 3.4 | 4.3 |
| Net book value | |||
At 31 December 2022 | 0.6 | 0.4 | 1.0 |
| Cost | |||
At 1 January 2023 | 1.5 | 3.8 | 5.3 |
Additions | 0.1 | 0.5 | 0.6 |
Disposals | \u2013 | (1.1) | (1.1) |
At 31 December 2023 | 1.6 | 3.2 | 4.8 |
| Depreciation | |||
At 1 January 2023 | 0.9 | 3.4 | 4.3 |
Charge for the year | 0.2 | 0.4 | 0.6 |
Disposals | \u2013 | (1.1) | (1.1) |
At 31 December 2023 | 1.1 | 2.7 | 3.8 |
| Net book value | |||
At 31 December 2023 | 0.5 | 0.5 | 1.0 |
\u00a3m | Motor vehicles | Property | Total |
| Cost | |||
At 1 January 2022 | 0.4 | 19.2 | 19.6 |
Additions | 0.1 | \u2013 | 0.1 |
Disposals | \u2013 | (8.3) | (8.3) |
At 31 December 2022 | 0.5 | 10.9 | 11.4 |
| Depreciation | |||
At 1 January 2022 | 0.2 | 5.0 | 5.2 |
Charge for the year | 0.1 | 1.6 | 1.7 |
Disposals | \u2013 | (2.6) | (2.6) |
At 31 December 2022 | 0.3 | 4.0 | 4.3 |
| Net book value | |||
At 31 December 2022 | 0.2 | 6.9 | 7.1 |
| Cost | |||
At 1 January 2023 | 0.5 | 10.9 | 11.4 |
Additions | 0.2 | \u2013 | 0.2 |
At 31 December 2023 | 0.7 | 10.9 | 11.6 |
| Depreciation | |||
At 1 January 2023 | 0.3 | 4.0 | 4.3 |
Charge for the year | 0.2 | 1.0 | 1.2 |
At 31 December 2023 | 0.5 | 5.0 | 5.5 |
| Net book value | |||
At 31 December 2023 | 0.2 | 5.9 | 6.1 |
\u00a3m | 2023 | 2022 |
Depreciation | (1.2) | (1.7) |
Interest expense | (0.4) | (0.6) |
Short-term lease expense | (0.1) | (0.2) |
\u00a3m | 2023 | 2022 |
Within one year | \u2013 | \u2013 |
Later than one year but not later than five years | \u2013 | \u2013 |
Later than five years | \u2013 | \u2013 |
Total sub-lease payments receivable | \u2013 | \u2013 |
Income from sub-lease in the year | \u2013 | 0.5 |
\u00a3m | Total |
Lease liabilities recognised at 1 January 2022 | 17.1 |
Additions | 0.1 |
Disposals | (6.3) |
Interest charge | 0.6 |
Payments made on lease liabilities | (2.2) |
At 31 December 2022 | 9.3 |
Additions | 0.2 |
Disposals | \u2013 |
Interest charge | 0.4 |
Payments made on lease liabilities | (1.7) |
At 31 December 2023 | 8.2 |
\u00a3m | 2023 | 2022 |
Non-current | 6.8 | 8.0 |
Current | 1.4 | 1.3 |
Total lease liabilities | 8.2 | 9.3 |
No later than one year | 1.7 | 1.8 |
Between one year and five years | 6.2 | 6.2 |
Later than five years | 1.4 | 2.9 |
Total future lease payments | 9.3 | 10.9 |
Total future interest payments | (1.1) | (1.6) |
Total lease liabilities | 8.2 | 9.3 |
\u00a3m | Motor vehicles | Property | Total |
| Cost | |||
At 1 January 2022 | 0.4 | 19.2 | 19.6 |
Additions | 0.1 | \u2013 | 0.1 |
Disposals | \u2013 | (8.3) | (8.3) |
At 31 December 2022 | 0.5 | 10.9 | 11.4 |
| Depreciation | |||
At 1 January 2022 | 0.2 | 5.0 | 5.2 |
Charge for the year | 0.1 | 1.6 | 1.7 |
Disposals | \u2013 | (2.6) | (2.6) |
At 31 December 2022 | 0.3 | 4.0 | 4.3 |
| Net book value | |||
At 31 December 2022 | 0.2 | 6.9 | 7.1 |
| Cost | |||
At 1 January 2023 | 0.5 | 10.9 | 11.4 |
Additions | 0.2 | \u2013 | 0.2 |
At 31 December 2023 | 0.7 | 10.9 | 11.6 |
| Depreciation | |||
At 1 January 2023 | 0.3 | 4.0 | 4.3 |
Charge for the year | 0.2 | 1.0 | 1.2 |
At 31 December 2023 | 0.5 | 5.0 | 5.5 |
| Net book value | |||
At 31 December 2023 | 0.2 | 5.9 | 6.1 |
\u00a3m | 2023 | 2022 |
Depreciation | (1.2) | (1.7) |
Interest expense | (0.4) | (0.6) |
Short-term lease expense | (0.1) | (0.2) |
\u00a3m | 2023 | 2022 |
Within one year | \u2013 | \u2013 |
Later than one year but not later than five years | \u2013 | \u2013 |
Later than five years | \u2013 | \u2013 |
Total sub-lease payments receivable | \u2013 | \u2013 |
Income from sub-lease in the year | \u2013 | 0.5 |
\u00a3m | 2023 | 2022 |
Balance as at 1 January | 1.6 | 1.8 |
Effect of changes in tax rates | (0.1) | \u2013 |
Adjustments in respect of prior period | \u2013 | (0.1) |
| Deferred income taxes recognised in the consolidated statement of profit or loss | ||
and comprehensive income | (0.7) | (0.2) |
Deferred tax on share-based payments recognised in reserves | (0.5) | 0.1 |
Balance as at 31 December | 0.3 | 1.6 |
| Consisting of: | ||
Depreciation in excess of capital allowances | (0.1) | (0.1) |
Other timing differences | 0.4 | 1.7 |
Balance as at 31 December | 0.3 | 1.6 |
\u00a3m | 2023 | 2022 |
Balance as at 1 January | 1.6 | 1.8 |
Effect of changes in tax rates | (0.1) | \u2013 |
Adjustments in respect of prior period | \u2013 | (0.1) |
| Deferred income taxes recognised in the consolidated statement of profit or loss | ||
and comprehensive income | (0.7) | (0.2) |
Deferred tax on share-based payments recognised in reserves | (0.5) | 0.1 |
Balance as at 31 December | 0.3 | 1.6 |
| Consisting of: | ||
Depreciation in excess of capital allowances | (0.1) | (0.1) |
Other timing differences | 0.4 | 1.7 |
Balance as at 31 December | 0.3 | 1.6 |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.2 |
Other movements | 0.1 | \u2013 |
Share of net loss from the joint venture | (0.2) | (0.1) |
Carrying amount as at 31 December | \u2013 | 0.1 |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.1 |
Loan write off | (0.1) | \u2013 |
Carrying amount as at 31 December | \u2013 | 0.1 |
| Held by | Held by | Held by | Held by | |||||
| Registered address and country | Principal | Company | Group | Company | Group | |||
| of incorporation | activity | 2023 | 2023 | 2022 | 2022 | |||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Holding | 100% | 100% | 100% | 100% | ||
| Group Limited | London, EC2Y 9DT, UK | company | ||||||
| Alfa Financial | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| Software Limited | London, EC2Y 9DT, UK | and services | ||||||
Alfa Financial Software Inc | 124 | E Hudson Ave, Royal Oak, | Software | \u2013 | 100% | \u2013 | 100% | |
MI 4 | 8 | 067, United States | and services | |||||
| Alfa Financial Software | Lisgar House, Level 3, | Services | \u2013 | 100% | \u2013 | 100% | ||
| Australia Pty Limited | 32 Carrington Street, | |||||||
| Sydney, NSW, 2000, Australia | ||||||||
| Alfa Financial Software | Level 1 Building B, 600 Great | Services | \u2013 | 100% | \u2013 | 100% | ||
| NZ Limited | South Road, Greenlane, Auckland | |||||||
1051, | New Zealand | |||||||
Alfa Financial Software GmbH | Peter-Mu\u0308ller-Stra\u00dfe 3, Du\u0308sseldorf | Software | \u2013 | 100% | \u2013 | 100% | ||
| Airport City BC GmbH & Co. KG, | and services | |||||||
40468 | Du\u0308sseldorf, Germany | |||||||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| International Limited | London, EC2Y 9DT, UK | and services | ||||||
| (Dormant) | ||||||||
Alfa iQ Limited* | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 51% | \u2013 | 51% | ||
| London, EC2Y 9DT, UK | and services |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.2 |
Other movements | 0.1 | \u2013 |
Share of net loss from the joint venture | (0.2) | (0.1) |
Carrying amount as at 31 December | \u2013 | 0.1 |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.1 |
Loan write off | (0.1) | \u2013 |
Carrying amount as at 31 December | \u2013 | 0.1 |
| Held by | Held by | Held by | Held by | |||||
| Registered address and country | Principal | Company | Group | Company | Group | |||
| of incorporation | activity | 2023 | 2023 | 2022 | 2022 | |||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Holding | 100% | 100% | 100% | 100% | ||
| Group Limited | London, EC2Y 9DT, UK | company | ||||||
| Alfa Financial | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| Software Limited | London, EC2Y 9DT, UK | and services | ||||||
Alfa Financial Software Inc | 124 | E Hudson Ave, Royal Oak, | Software | \u2013 | 100% | \u2013 | 100% | |
MI 4 | 8 | 067, United States | and services | |||||
| Alfa Financial Software | Lisgar House, Level 3, | Services | \u2013 | 100% | \u2013 | 100% | ||
| Australia Pty Limited | 32 Carrington Street, | |||||||
| Sydney, NSW, 2000, Australia | ||||||||
| Alfa Financial Software | Level 1 Building B, 600 Great | Services | \u2013 | 100% | \u2013 | 100% | ||
| NZ Limited | South Road, Greenlane, Auckland | |||||||
1051, | New Zealand | |||||||
Alfa Financial Software GmbH | Peter-Mu\u0308ller-Stra\u00dfe 3, Du\u0308sseldorf | Software | \u2013 | 100% | \u2013 | 100% | ||
| Airport City BC GmbH & Co. KG, | and services | |||||||
40468 | Du\u0308sseldorf, Germany | |||||||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| International Limited | London, EC2Y 9DT, UK | and services | ||||||
| (Dormant) | ||||||||
Alfa iQ Limited* | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 51% | \u2013 | 51% | ||
| London, EC2Y 9DT, UK | and services |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.2 |
Other movements | 0.1 | \u2013 |
Share of net loss from the joint venture | (0.2) | (0.1) |
Carrying amount as at 31 December | \u2013 | 0.1 |
\u00a3m | 2023 | 2022 |
Carrying amount as at 1 January | 0.1 | 0.1 |
Loan write off | (0.1) | \u2013 |
Carrying amount as at 31 December | \u2013 | 0.1 |
| Held by | Held by | Held by | Held by | |||||
| Registered address and country | Principal | Company | Group | Company | Group | |||
| of incorporation | activity | 2023 | 2023 | 2022 | 2022 | |||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Holding | 100% | 100% | 100% | 100% | ||
| Group Limited | London, EC2Y 9DT, UK | company | ||||||
| Alfa Financial | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| Software Limited | London, EC2Y 9DT, UK | and services | ||||||
Alfa Financial Software Inc | 124 | E Hudson Ave, Royal Oak, | Software | \u2013 | 100% | \u2013 | 100% | |
MI 4 | 8 | 067, United States | and services | |||||
| Alfa Financial Software | Lisgar House, Level 3, | Services | \u2013 | 100% | \u2013 | 100% | ||
| Australia Pty Limited | 32 Carrington Street, | |||||||
| Sydney, NSW, 2000, Australia | ||||||||
| Alfa Financial Software | Level 1 Building B, 600 Great | Services | \u2013 | 100% | \u2013 | 100% | ||
| NZ Limited | South Road, Greenlane, Auckland | |||||||
1051, | New Zealand | |||||||
Alfa Financial Software GmbH | Peter-Mu\u0308ller-Stra\u00dfe 3, Du\u0308sseldorf | Software | \u2013 | 100% | \u2013 | 100% | ||
| Airport City BC GmbH & Co. KG, | and services | |||||||
40468 | Du\u0308sseldorf, Germany | |||||||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| International Limited | London, EC2Y 9DT, UK | and services | ||||||
| (Dormant) | ||||||||
Alfa iQ Limited* | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 51% | \u2013 | 51% | ||
| London, EC2Y 9DT, UK | and services |
\u00a3m | 2023 | 2022 |
Trade receivables | 5.6 | 8.9 |
Provision for impairment | \u2013 | \u2013 |
Trade receivables \u2013 net | 5.6 | 8.9 |
Ageing of net trade receivables \u00a3m | 2023 | 2022 |
Within agreed terms | 5.0 | 6.4 |
Past due 1-30 days | 0.6 | 2.4 |
Past due 31-90 days | \u2013 | 0.1 |
Past due 91+ days | \u2013 | \u2013 |
Trade receivables \u2013 net | 5.6 | 8.9 |
\u00a3m | 2023 | 2022 |
GBP | 2.6 | 4.5 |
USD | 2.4 | 2.7 |
Other | 0.6 | 1.7 |
Trade receivables \u2013 net | 5.6 | 8.9 |
\u00a3m | 2023 | 2022 |
Accrued income | 4.6 | 6.5 |
Prepayments | 3.8 | 4.5 |
Corporation tax recoverable | 1.9 | 0.2 |
Other receivables | 0.3 | 0.2 |
Total other receivables held at amortised cost | 10.6 | 11.4 |
\u00a3m | 2023 | 2022 |
Trade receivables | 5.6 | 8.9 |
Provision for impairment | \u2013 | \u2013 |
Trade receivables \u2013 net | 5.6 | 8.9 |
Ageing of net trade receivables \u00a3m | 2023 | 2022 |
Within agreed terms | 5.0 | 6.4 |
Past due 1-30 days | 0.6 | 2.4 |
Past due 31-90 days | \u2013 | 0.1 |
Past due 91+ days | \u2013 | \u2013 |
Trade receivables \u2013 net | 5.6 | 8.9 |
\u00a3m | 2023 | 2022 |
GBP | 2.6 | 4.5 |
USD | 2.4 | 2.7 |
Other | 0.6 | 1.7 |
Trade receivables \u2013 net | 5.6 | 8.9 |
\u00a3m | 2023 | 2022 |
Accrued income | 4.6 | 6.5 |
Prepayments | 3.8 | 4.5 |
Corporation tax recoverable | 1.9 | 0.2 |
Other receivables | 0.3 | 0.2 |
Total other receivables held at amortised cost | 10.6 | 11.4 |
\u00a3m | 2023 | 2022 |
Cash at bank and in hand | 21.8 | 18.7 |
Cash and cash equivalents | 21.8 | 18.7 |
\u00a3m | 2023 | 2022 |
GBP | 13.5 | 10.0 |
USD | 3.4 | 4.3 |
AUD | 1.8 | 2.1 |
EUR | 2.2 | 1.9 |
Other | 0.9 | 0.4 |
Cash and cash equivalents | 21.8 | 18.7 |
\u00a3m | 2023 | 2022 |
Trade payables | 0.5 | 0.8 |
Other payables | 9.5 | 8.7 |
Contract liabilities \u2013 deferred licence and fees | 8.0 | 8.6 |
Contract liabilities \u2013 deferred maintenance | 6.2 | 6.2 |
Lease liabilities (note 24) | 8.2 | 9.3 |
Provisions for other liabilities (note 25) | 0.7 | 0.9 |
Total current and non-current liabilities | 33.1 | 34.5 |
Less non-current portion | (7.5) | (8.9) |
Total current liabilities | 25.6 | 25.6 |
\u00a3m | 2023 | 2022 |
Trade payables | 0.5 | 0.8 |
Other payables | 9.5 | 8.7 |
Contract liabilities \u2013 deferred licence and fees | 8.0 | 8.6 |
Contract liabilities \u2013 deferred maintenance | 6.2 | 6.2 |
Lease liabilities (note 24) | 8.2 | 9.3 |
Provisions for other liabilities (note 25) | 0.7 | 0.9 |
Total current and non-current liabilities | 33.1 | 34.5 |
Less non-current portion | (7.5) | (8.9) |
Total current liabilities | 25.6 | 25.6 |
\u00a3m | 2023 | 2022 |
Trade payables | 0.5 | 0.8 |
Other payables | 9.5 | 8.7 |
Contract liabilities \u2013 deferred licence and fees | 8.0 | 8.6 |
Contract liabilities \u2013 deferred maintenance | 6.2 | 6.2 |
Lease liabilities (note 24) | 8.2 | 9.3 |
Provisions for other liabilities (note 25) | 0.7 | 0.9 |
Total current and non-current liabilities | 33.1 | 34.5 |
Less non-current portion | (7.5) | (8.9) |
Total current liabilities | 25.6 | 25.6 |
| \u00a3m | |
At 1 January 2022 | 1.4 |
Provided in the period | 0.3 |
Utilised in the period | (0.3) |
Released in the period | (0.5) |
At 31 December 2022 | 0.9 |
Provided in the period | 0.2 |
Utilised in the period | (0.4) |
Released in the period | \u2013 |
At 31 December 2023 | 0.7 |
2023 | 2022 | |||
Issued and fully paid | Shares | \u00a3m | Shares | \u00a3m |
Ordinary shares \u2013 0.1 pence | 300,000,000 | 0.3 | 300,000,000 | 0.3 |
Balance as at 31 December | 300,000,000 | 0.3 | 300,000,000 | 0.3 |
\u00a3m | 2023 | 2022 |
At 1 January | 0.4 | \u2013 |
Currency translation of subsidiaries | (0.2) | 0.4 |
At 31 December | 0.2 | 0.4 |
| \u00a3m | 2023 | 2022 |
Balance at 1 January | 7.5 | 3.4 |
Acquired in the year | 4.8 | 5.6 |
Distributed on exercise of options | (3.6) | (1.5) |
Balance at 31 December | 8.7 | 7.5 |
2023 | 2022 | |||
Issued and fully paid | Shares | \u00a3m | Shares | \u00a3m |
Ordinary shares \u2013 0.1 pence | 300,000,000 | 0.3 | 300,000,000 | 0.3 |
Balance as at 31 December | 300,000,000 | 0.3 | 300,000,000 | 0.3 |
\u00a3m | 2023 | 2022 |
At 1 January | 0.4 | \u2013 |
Currency translation of subsidiaries | (0.2) | 0.4 |
At 31 December | 0.2 | 0.4 |
| \u00a3m | 2023 | 2022 |
Balance at 1 January | 7.5 | 3.4 |
Acquired in the year | 4.8 | 5.6 |
Distributed on exercise of options | (3.6) | (1.5) |
Balance at 31 December | 8.7 | 7.5 |
| Share options | Share options | |||||
| Exercise | 31 December | 31 December | ||||
Grant date | Condition type | Plan | Vesting date | price | 2023 | 2022 |
June 2020 | Service and Performance LTIP | June 2023 | 0p | \u2013 | 2,286,502 | |
June 2020 | Service Only | LTIP | June 2023 | 0p | \u2013 | 35,971 |
April 2021 | Service and Performance LTIP | April 2024 | 0p | 1,070,668 | 1,070,668 | |
November 2021 | Service Only | LTIP | October 2024 | 0p | 60,872 | 60,872 |
November 2021 | Service Only | UK Employee ShareSave | January 2025 | 153.6p | 172,832 | 397,228 |
November 2021 | Service Only | US Employee ShareSave | January 2024 | 167.0p | 40,323 | 70,515 |
April 2022 | Service and Performance LTIP | April 2025 | 0p | 741,162 | 741,162 | |
April 2022 | Service Only | LTIP | April 2025 | 0p | 237,965 | 237,965 |
April 2022 | Service Only | US Employee ShareSave | June 2024 | 141.1p | 27,727 | 36,731 |
May 2022 | Service Only | UK Employee ShareSave | June 2025 | 132.8p | 214,383 | 530,320 |
September 2022 | Service Only | LTIP | September 2025 | 0p | 5,917 | 5,917 |
April 2023 | Service and Performance LTIP | April 2026 | 0p | 913,963 | \u2013 | |
April 2023 | Service Only | LTIP | April 2026 | 0p | 383,814 | \u2013 |
April 2023 | Service Only | UK Employee ShareSave | June 2026 | 109.6p | 857,493 | \u2013 |
April 2023 | Service Only | US Employee ShareSave | June 2025 | 116.5p | 54,960 | \u2013 |
\u00a3m | 2023 | 2022 |
Employee share schemes \u2013 value of services | 1.5 | 1.5 |
Expense in relation to fair value of social security liability on employee share schemes | 0.1 | 0.3 |
Total cost of employee share schemes | 1.6 | 1.8 |
2023 | 2022 | |
Outstanding at 1 January | 5,473,851 | 5,470,741 |
Conditionally awarded in year | 2,210,230 | 1,552,095 |
Exercised | (2,322,473) | (1,032,382) |
Forfeited or expired in year | (579,529) | (516,603) |
Outstanding at 31 December | 4,782,079 | 5,473,851 |
Exercisable at the end of the year | \u2013 | \u2013 |
LTIP awards (granted in April) | TSR element | EPS element |
Share price at date of grant | 139.0p | 139.0p |
Award price | 0p | 0p |
Volatility | 47.0% | 0.0% |
Embedded TSR | 10.3% | \u2013 |
Average correlation | 19.8% | \u2013 |
Life of award | 3 years | 3 years |
Risk-free rate | 3.43% | \u2013 |
Fair value per award | 68.1p | 124.1p |
| 31 December 2023 | ||||
SAYE | ESPP | |||
| Number of | Exercise | Number of | Exercise | |
| share options | price | share options | price | |
Outstanding at beginning of year | 927,548 | 145.0p | 107,246 | 158.0p |
Conditionally awarded in year | 857,493 | 109.6p | 54,960 | 116.5p |
Forfeited or expired in year | (75,699) | 145.0p | (21,436) | 156.1p |
Replaced in year (i.e. left an earlier plan to join the new plan) | (464,634) | 140.9p | (17,760) | 167.0p |
Outstanding at the end of the year* | 1,244,708 | 119.7p | 123,010 | 138.6p |
Exercisable at the end of the year | \u2013 | \u2013 | \u2013 | \u2013 |
| SAYE | ESPP | |
| 31 December | 31 December | |
| 2023 | 2023 | |
Share price | 142.0p | 136.5p |
Exercise price | 109.6p | 116.5p |
Expected volatility | 52.40% | 45.30% |
Expected life | 36 months | 24 months |
Risk-free rate | 3.68% | 3.48% |
Expected dividend yields | 3.70% | 3.70% |
Fair value per award | 54.0p | 40.2p |
| Held by | Held by | Held by | Held by | |||||
| Registered address and country | Principal | Company | Group | Company | Group | |||
| of incorporation | activity | 2023 | 2023 | 2022 | 2022 | |||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Holding | 100% | 100% | 100% | 100% | ||
| Group Limited | London, EC2Y 9DT, UK | company | ||||||
| Alfa Financial | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| Software Limited | London, EC2Y 9DT, UK | and services | ||||||
Alfa Financial Software Inc | 124 | E Hudson Ave, Royal Oak, | Software | \u2013 | 100% | \u2013 | 100% | |
MI 4 | 8 | 067, United States | and services | |||||
| Alfa Financial Software | Lisgar House, Level 3, | Services | \u2013 | 100% | \u2013 | 100% | ||
| Australia Pty Limited | 32 Carrington Street, | |||||||
| Sydney, NSW, 2000, Australia | ||||||||
| Alfa Financial Software | Level 1 Building B, 600 Great | Services | \u2013 | 100% | \u2013 | 100% | ||
| NZ Limited | South Road, Greenlane, Auckland | |||||||
1051, | New Zealand | |||||||
Alfa Financial Software GmbH | Peter-Mu\u0308ller-Stra\u00dfe 3, Du\u0308sseldorf | Software | \u2013 | 100% | \u2013 | 100% | ||
| Airport City BC GmbH & Co. KG, | and services | |||||||
40468 | Du\u0308sseldorf, Germany | |||||||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| International Limited | London, EC2Y 9DT, UK | and services | ||||||
| (Dormant) | ||||||||
Alfa iQ Limited* | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 51% | \u2013 | 51% | ||
| London, EC2Y 9DT, UK | and services |
| Held by | Held by | Held by | Held by | |||||
| Registered address and country | Principal | Company | Group | Company | Group | |||
| of incorporation | activity | 2023 | 2023 | 2022 | 2022 | |||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Holding | 100% | 100% | 100% | 100% | ||
| Group Limited | London, EC2Y 9DT, UK | company | ||||||
| Alfa Financial | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| Software Limited | London, EC2Y 9DT, UK | and services | ||||||
Alfa Financial Software Inc | 124 | E Hudson Ave, Royal Oak, | Software | \u2013 | 100% | \u2013 | 100% | |
MI 4 | 8 | 067, United States | and services | |||||
| Alfa Financial Software | Lisgar House, Level 3, | Services | \u2013 | 100% | \u2013 | 100% | ||
| Australia Pty Limited | 32 Carrington Street, | |||||||
| Sydney, NSW, 2000, Australia | ||||||||
| Alfa Financial Software | Level 1 Building B, 600 Great | Services | \u2013 | 100% | \u2013 | 100% | ||
| NZ Limited | South Road, Greenlane, Auckland | |||||||
1051, | New Zealand | |||||||
Alfa Financial Software GmbH | Peter-Mu\u0308ller-Stra\u00dfe 3, Du\u0308sseldorf | Software | \u2013 | 100% | \u2013 | 100% | ||
| Airport City BC GmbH & Co. KG, | and services | |||||||
40468 | Du\u0308sseldorf, Germany | |||||||
| Alfa Financial Software | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 100% | \u2013 | 100% | ||
| International Limited | London, EC2Y 9DT, UK | and services | ||||||
| (Dormant) | ||||||||
Alfa iQ Limited* | Moor Place, 1 Fore Street Avenue, | Software | \u2013 | 51% | \u2013 | 51% | ||
| London, EC2Y 9DT, UK | and services |
| 31 December 2023 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 5.5 | (0.9) | 4.6 |
Contract liabilities \u2013 deferred licence | (8.9) | 0.9 | (8.0) |
| 31 December 2022 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 15.6 | (9.1) | 6.5 |
Contract liabilities \u2013 deferred licence | (17.7 ) | 9.1 | (8.6) |
| 31 December 2023 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 5.5 | (0.9) | 4.6 |
Contract liabilities \u2013 deferred licence | (8.9) | 0.9 | (8.0) |
| 31 December 2022 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 15.6 | (9.1) | 6.5 |
Contract liabilities \u2013 deferred licence | (17.7 ) | 9.1 | (8.6) |
| 31 December 2023 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 5.5 | (0.9) | 4.6 |
Contract liabilities \u2013 deferred licence | (8.9) | 0.9 | (8.0) |
| 31 December 2022 | Gross | Amounts | Net amounts |
| \u00a3m | amounts | offset | presented |
Accrued income | 15.6 | (9.1) | 6.5 |
Contract liabilities \u2013 deferred licence | (17.7 ) | 9.1 | (8.6) |