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Registered number: 12463096 (England and Wales)














FULLSTORY INTERNATIONAL UK LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
COMPANY INFORMATION


Directors
S M Voigt 
C B Wu (resigned 1 November 2022)
A A Fairbank (appointed 13 September 2022)
M Gosis (appointed 1 November 2022)




Registered number
12463096



Registered office
1st Floor West
Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
FULLSTORY INTERNATIONAL UK LIMITED
 


CONTENTS



Page
Balance Sheet
 
1
Statement of Changes in Equity
 
2
Notes to the Financial Statements
 
3 - 7



 
FULLSTORY INTERNATIONAL UK LIMITED
REGISTERED NUMBER:12463096


BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,000,363
372,032

Bank and cash balances
  
259,642
138,960

  
1,260,005
510,992

Creditors: amounts falling due within one year
 5 
(655,491)
(302,262)

Net current assets
  
 
 
604,514
 
 
208,730

Total assets less current liabilities
  
604,514
208,730

  

Net assets
  
604,514
208,730


Capital and reserves
  

Called up share capital 
  
1
1

Capital contribution reserve
 6 
200,968
29,199

Profit and loss account
 6 
403,545
179,530

  
604,514
208,730


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


M Gosis
Director

Date: 26 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 1


 
FULLSTORY INTERNATIONAL UK LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£
£
£
£


At 1 February 2021
1
-
47,589
47,590



Profit for the year
-
-
131,941
131,941

Share-based payment
-
29,199
-
29,199



At 1 February 2022
1
29,199
179,530
208,730



Profit for the year
-
-
224,015
224,015

Share-based payment
-
171,769
-
171,769


At 31 January 2023
1
200,968
403,545
604,514


Page 2


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
1.2

Going concern

FullStory International UK Limited is in a net asset position supported primarily by an intercompany receivable due from its parent company, FullStory, Inc. The directors have considered the parent company's ability to provide financial support and have received written confirmation that it will continue to do so for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

 
1.3

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover is recognised on a cost plus 5% basis, in line with the intercompany service agreement with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the intercompany service agreement;
the costs incurred under the intercompany service agreement can be measured reliably.

 
1.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)

 
1.6

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

 
1.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
1.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
1.10

Creditors

Short term creditors are measured at the transaction price.


2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2023 was unqualified.

The audit report was signed on 27 October 2023 by Nick Whitehead FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.

Page 4


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2022 - 13).

Page 5


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
953,224
328,023

Other debtors
43,123
43,336

Prepayments and accrued income
4,016
673

1,000,363
372,032



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
20,249
-

Corporation tax
100,705
39,208

Other taxation and social security
244,293
117,470

Other creditors
45,923
18,727

Accruals and deferred income
244,321
126,857

655,491
302,262



6.


Reserves

Capital contribution reserve

Certain employees of the Company along with other group employees have been granted options over the shares in the parent company, FullStory, Inc. The options are granted at an independently determined fair value.

Vesting conditions for these options are as follows:

25% of the options vest one year after the vesting commencement date and then monthly for three years thereafter.

An expense equivalent to the fair value of the share options granted is recognised evenly over the vesting period with a corresponding amount being recognised as a capital contribution reserve.

Page 6


 
FULLSTORY INTERNATIONAL UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Commitments under operating leases

At 31 January 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than one year
179,550
170,100

179,550
170,100


8.


Controlling party

FullStory, Inc. is the parent of the smallest group for which consolidated financial statements are drawn
up of which the Company is a member. The registered office of the parent company is 1745 Peachtree Road NW, Suite N, Atlanta, Georgia, 30309, United States.


9.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and
the date these financial statements were approved.

Page 7