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Registration number: 12946782

Stackadapt UK Limited

Annual Report and Financial Statements

for the Period from 1 October 2020 to 31 December 2021

 

Stackadapt UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

Stackadapt UK Limited

(Registration number: 12946782)
Balance Sheet as at 31 December 2021

Note

2021
$

Current assets

 

Debtors

4

589,617

Cash at bank and in hand

 

469,418

 

1,059,035

Creditors: Amounts falling due within one year

5

(964,895)

Net assets

 

94,140

Capital and reserves

 

Retained earnings

94,140

Shareholders' funds

 

94,140

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 September 2022 and signed on its behalf by:
 

.........................................
I Sharafutdinov
Director

 

Stackadapt UK Limited

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

1

General information

The company is a private company limited by share capital incorporated in United Kingdom and the company registration number is 12946782.

The address of its registered office is:
The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1FE
England

These financial statements were authorised for issue by the Board on 2 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 (including Section 1A for smaller entities) - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in US dollars which is the presentational currency of the company and are rounded to the nearest pound.

The financial statements cover the activity of Stackadapt UK Limited as an individual entity and not of any wider Group that the Company is part of.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 September 2022 was Neal Watford ACA, who signed for and on behalf of Forrester Boyd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Stackadapt UK Limited

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

Tax

The tax expense for the period comprises current tax. Tax is recognised in the statement of income and retained earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 19.

4

Debtors

Note

2021
$

Amounts owed by group undertakings and undertakings in which the company has a participating interest

6

471,030

Other debtors

 

26,257

Prepayments and accrued income

 

92,330

Total current trade and other debtors

 

589,617

 

Stackadapt UK Limited

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

5

Creditors

Note

2021
$

Due within one year

 

Trade creditors

 

61,964

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6

617,721

Taxation and social security

 

8,796

Other creditors

 

26,262

Accruals and deferred income

 

250,152

 

964,895

6

Related party transactions

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

Key management compensation

2021
$

Key management remuneration

-

The directors and key management personnel are remunerated for their management of the Group as a whole through Stackadapt Inc.

7

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is the ultimate holding Company, Stackadapt Inc, incorporated in Canada.

The address of the ultimate holding Company, Stackadapt Inc is:
500 King St E, Toronto, Ontario, Canada.