IRIS Accounts Production v23.2.0.158 11536260 Board of Directors 1.2.22 31.1.23 31.1.23 24.10.23 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure115362602022-01-31115362602023-01-31115362602022-02-012023-01-31115362602021-01-31115362602021-02-012022-01-31115362602022-01-3111536260ns16:EnglandWales2022-02-012023-01-3111536260ns15:PoundSterling2022-02-012023-01-3111536260ns11:Director12022-02-012023-01-3111536260ns11:PrivateLimitedCompanyLtd2022-02-012023-01-3111536260ns11:SmallEntities2022-02-012023-01-3111536260ns11:Audited2022-02-012023-01-3111536260ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3111536260ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-3111536260ns11:FullAccounts2022-02-012023-01-3111536260ns11:OrdinaryShareClass12022-02-012023-01-3111536260ns11:Director22022-02-012023-01-3111536260ns11:Director32022-02-012023-01-3111536260ns11:RegisteredOffice2022-02-012023-01-3111536260ns6:CurrentFinancialInstruments2023-01-3111536260ns6:CurrentFinancialInstruments2022-01-3111536260ns6:ShareCapital2023-01-3111536260ns6:ShareCapital2022-01-3111536260ns6:FurtherSpecificReserve1ComponentTotalEquity2023-01-3111536260ns6:FurtherSpecificReserve1ComponentTotalEquity2022-01-3111536260ns6:RetainedEarningsAccumulatedLosses2023-01-3111536260ns6:RetainedEarningsAccumulatedLosses2022-01-3111536260ns6:PlantMachinery2022-02-012023-01-3111536260ns6:PlantMachinery2022-01-3111536260ns6:PlantMachinery2023-01-3111536260ns6:PlantMachinery2022-01-3111536260ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3111536260ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-3111536260ns6:WithinOneYear2023-01-3111536260ns6:WithinOneYear2022-01-3111536260ns11:OrdinaryShareClass12023-01-3111536260ns6:RetainedEarningsAccumulatedLosses2022-01-3111536260ns6:FurtherSpecificReserve1ComponentTotalEquity2022-01-3111536260ns6:RetainedEarningsAccumulatedLosses2022-02-012023-01-31
REGISTERED NUMBER: 11536260 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

EVERLAW UK LIMITED

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EVERLAW UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTORS: A G Shankar
J D Friedman
I M Sink





REGISTERED OFFICE: C/O Fieldfisher Riverbank House
2 Swan Lane
London
EC4R 3TT





REGISTERED NUMBER: 11536260 (England and Wales)





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

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

BALANCE SHEET
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,128 6,839

CURRENT ASSETS
Debtors 5 467,355 761,058
Cash at bank 921,255 166,067
1,388,610 927,125
CREDITORS
Amounts falling due within one year 6 443,182 336,261
NET CURRENT ASSETS 945,428 590,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

955,556

597,703

CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital contribution reserve 9 220,955 94,798
Retained earnings 9 734,501 502,805
SHAREHOLDERS' FUNDS 955,556 597,703

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:





I M Sink - Director


EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Everlaw 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.

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 are satisfied that the ongoing financial support from a fellow group company will continue for at least 12 months and 1 day following the signing 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.

Turnover
Turnover represents amounts charged to the company's parent company under a sales and marketing agreement, excluding value added tax. Turnover is recognised, on a cost plus basis, when the relevant costs are accrued.

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 years

Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

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.

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.

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
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.

Share-based payments
Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services.

The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Group receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 21 ) .

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 7,942
Additions 6,285
At 31 January 2023 14,227
DEPRECIATION
At 1 February 2022 1,103
Charge for year 2,996
At 31 January 2023 4,099
NET BOOK VALUE
At 31 January 2023 10,128
At 31 January 2022 6,839

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Amounts owed by group undertakings 251,889 640,025
Other debtors 215,466 121,033
467,355 761,058

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 43,744 31,512
Taxation and social security 238,122 152,880
Other creditors & accruals 161,316 151,869
443,182 336,261

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
Within one year 85,680 84,000

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Capital
Retained contribution
earnings reserve Totals
£    £    £   

At 1 February 2022 502,805 94,798 597,603
Profit for the year 231,696 - 231,696
Share option charge - 126,157 126,157
At 31 January 2023 734,501 220,955 955,456

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

The Report of the Auditors was unqualified.

Amy Enslin (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

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."

EVERLAW UK LIMITED (REGISTERED NUMBER: 11536260)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

11. SHARE-BASED PAYMENT TRANSACTIONS

At the year end the company has equity settled share based payment options with its employees under two share option plans: 2011 Stock Plan and 2019 Stock Plan.

The equity offered is that of the ultimate parent company Everlaw, Inc. (incorporated in the United States of America). Both the 2011 and 2019 Stock Plan share option schemes have a vesting period of 4 years. The rights to exercising the shares lapse on cessation of employment before the vesting date.

i) 769,750 share options were outstanding at the beginning of the period;
ii) 840,910 share options were granted during the year;
iii) 437,410 share options were forfeited during the year;
iv) 2,260 share options were exercised during the year;
v) 6,780 share options expired during the year,
vi) 1,164,210 share options were outstanding at the end of the period;
vii) 818,860 share options are exercisable at the end of the period.

The share options were valued using the Black-Scholes Option Pricing Model.

The share option charge for the year amounted to £126,157 (2022: £50,638).

12. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Everlaw, Inc. a company incorporated in United States of America, with its registered office at 2101 Webster St, Suite 1500, Oakland, CA, 94612. Everlaw Inc, is the largest and only group company to prepare consolidated financial statement and are not publicly available.