Advanced Computer Software Group plc Annual report 2013

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Board ofDirectors12345620Advanced Computer Software Group plcAnnual Report 2013
1 2Michael JacksonChairmanMichael became Chairman of Advanced in August2008 and is also Chairman of the Audit Committee.He founded Elderstreet Investments Limited in 1990and is its executive Chairman. For the past 30 years,he has specialised in raising finance for the smallercompanies sector. He was previously chairmanof FTSE 100 companies, The Sage Group plc andPartyGaming plc, and Computer Software Group plc,the business that later became Computer SoftwareHoldings. He is a director of many quoted and unquotedcompanies, including Elderstreet portfolio companies.Vin MurriaChief Executive OfficerVin joined Advanced in August 2008 as Chief ExecutiveOfficer with 25 years’ experience of working for privateequity-backed and publicly listed companies focusingon the software sector. She was formerly Chief ExecutiveOfficer of Computer Software Group plc, which shetook private in April 2007. Her previous roles includeChief Operating Officer for Kewill Systems plc, Chairmanof Leeds Group plc and non-executive director ofConcateno plc. Vin is a partner at Elderstreet Capitaland a non-executive director of Greenko plc, an Indianenergy company.Overview Business review Governance Financials3 4Guy MillwardChief Financial OfficerGuy joined the Board as a non-executive director inNovember 2012 and on 10 June 2013 was appointedChief Financial Officer. He has spent the majority ofhis career in the IT industry, most recently as GroupFinance Director of private equity owned BigHandLimited. Previous roles include Group Finance Director oflisted companies Kewill plc, Alterian plc and Morse plc,and at an IT division of GE.5 6Barbara FirthChief Operating Officer,Acquisitions and IntegrationBarbara was previously Chief Financial Officer ofComputer Software Group plc where she workedclosely with Vin Murria and Michael Jackson until themerger with IRIS Software Group Limited in July 2007.Following the merger, Barbara was Acquisitions Directorof the combined group until joining Advanced asChief Financial Officer in September 2009. Followingthe acquisition of Computer Software Holdings inMarch 2013, Barbara was appointed Chief OperatingOfficer with specific responsibility for acquisitionsand integration.Mike McGounNon-Executive DirectorMike was appointed to the Board in November 2012 andchairs the Remuneration Committee. He has a wealthof management experience within the IT industry.After 10 years at IBM, Mike co-founded a successfulComputerLand franchise in 1984. In 1994 he moved toSkillsGroup plc (now known as QA plc) as a main boarddirector with responsibility for corporate development.Most recently, he was non-executive Chairman of Tikit plc,a provider of software, consultancy, and services to legaland accounting firms in the UK, until its acquisition byBritish Telecom in November 2012.Paul GibsonChief Operating Officer, OperationsPaul was appointed to the Board of Advanced inNovember 2012, having been Chief Operating Officersince 2010. Paul was Finance Director at COA Solutionsfor eight years before its acquisition by Advanced in2010. Prior to that, he was European Finance Directorof a NASDAQ-listed systems integrator and spentseven years with Oracle where his final role was asthe director responsible for establishing its Europeanshared services centre in Dublin.Advanced Computer Software Group plcAnnual Report 201321
Page 2: ProfileAdvanced Computer Software G
Page 5 and 6: Revenue£26.2m(2012: £22.7m)EBITDA
Page 7 and 8: During the year Advanced commenced
Page 9 and 10: Strand Technology, with annual reve
Page 11 and 12: OverviewAdvanced 365 Managed Servic
Page 13: Operating reviewOverviewThe rolling
Page 18 and 19: Financial review continuedFinancing
Page 21: The Group actively participates in
Page 25 and 26: Directors’ reportPrincipal activi
Page 27 and 28: employment from disabled people and
Page 29 and 30: The table below shows the number of
Page 32 and 33: Audit Committee report continuedExt
Page 34 and 35: Directors’ remuneration reportcon
Page 36 and 37: Independent auditor’s reportto th
Page 38 and 39: Consolidated statement ofcomprehens
Page 40 and 41: Consolidated cash flow statementfor
Page 42 and 43: Notes to the consolidatedfinancial
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Notes to the consolidatedfinancial
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Notes to the financial statementsof
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Notes to the financial statementsof
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Notes76Advanced Computer Software G
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Advanced Computer Software Group pl
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Advanced Computer Software Group plc Annual report 2013

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