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REGISTERED NUMBER: 11007705 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

SAFETYCULTURE (UK) LIMITED

SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAFETYCULTURE (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: L I Anear
J B Blake





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 11007705 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 279,970 376,557

CURRENT ASSETS
Debtors 5 3,356,927 2,312,605
Cash at bank 32,396 344,468
3,389,323 2,657,073
CREDITORS
Amounts falling due within one year 6 1,111,968 991,648
NET CURRENT ASSETS 2,277,355 1,665,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,557,325

2,041,982

PROVISIONS FOR LIABILITIES 8 21,524 48,254
NET ASSETS 2,535,801 1,993,728

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 10 497,712 395,497
Retained earnings 10 2,037,989 1,598,131
SHAREHOLDERS' FUNDS 2,535,801 1,993,728

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





J B Blake - Director


SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

SafetyCulture (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The trading address of the company is 12-14 Lever Street, Manchester, M1 1LN

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on the going concern basis as the directors have received confirmation that ongoing financial support from group companies will continue for at least 12 months and 1 day following the sign off of the audit report.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
With regard to the accounting policies adopted by the company, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily available from other sources. Such estimates are based on historical experience and other relevant factors and may differ from actual results. All estimates, and associated underlying assumptions, are reviewed on an ongoing basis.

Turnover
Turnover is calculated to generate a margin in line with transfer pricing agreements and recharged to the parent entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 - 7 years
Leasehold Improvements - Straight line over 5 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Financial assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Share based payments scheme
The company participates in a group share-based payment plan, and recognises and measures its share based payment expense on the basis of a reasonable allocation of the expense recognised for the group. The allocation is based on the number of employees benefiting from the share-based payment plan employed by each group entity. The share based payment expense is recognised in the income statement as an expense with a corresponding credit to other reserves.The share based payments are equity settled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 75 (2022 - 85 ) .

SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 869,456
Additions 81,367
At 30 June 2023 950,823
DEPRECIATION
At 1 July 2022 492,899
Charge for year 177,954
At 30 June 2023 670,853
NET BOOK VALUE
At 30 June 2023 279,970
At 30 June 2022 376,557

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed by group undertakings 3,108,840 2,072,169
Other debtors 151,630 183,541
VAT 19,493 22,250
Prepayments and accrued income 76,964 34,645
3,356,927 2,312,605

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 11,215 58,485
Amounts owed to group undertakings 286,265 -
Taxation and social security 194,857 208,981
Other creditors & accruals 619,631 724,182
1,111,968 991,648

SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 243,317 176,106
Between one and five years - 243,317
243,317 419,423

8. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 21,524 48,254

Deferred
tax
£   
Balance at 1 July 2022 48,254
Credit to Income Statement during year (26,730 )
Balance at 30 June 2023 21,524

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary Shares £1 100 100

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2022 1,598,131 395,497 1,993,628
Profit for the year 439,858 439,858
Charge for the year - 102,215 102,215
At 30 June 2023 2,037,989 497,712 2,535,701

Other reserves relates entirely to share options.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Lockwood (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

12. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is SafetyCulture Pty Ltd, a company incorporated at 72 Foveaux Street, Surry Hills, NSW 2010, Australia. SafetyCulture Pty Ltd is the largest and only group company to prepare consolidated financial statements.