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REGISTERED NUMBER: 08705919 (England and Wales)









Financial Statements

FOR THE PERIOD

1 February 2022 to 31 December 2022

for

TAULIA UK LTD

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Contents of the Financial Statements
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAULIA UK LTD

Company Information
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022







DIRECTORS: C Bru
R Hung-Sung Ho



REGISTERED OFFICE: Office 3.13
Liberty House
222 Regent Street
London
W1B 5TR



REGISTERED NUMBER: 08705919 (England and Wales)



AUDITORS: Haines Watts Partnership (Bristol) Limited
Chartered Accountants and Statutory Auditors
Bath House
6-8 Bath Street
Bristol
BS1 6HL



BANKERS: National Westminster Bank Plc
Piccadilly & New Bond Street Branch
63 - 65 Piccadilly
London
W1J 0AJ

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Balance Sheet
31 DECEMBER 2022

31/12/22 31/1/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 72,423 45,030

CURRENT ASSETS
Debtors 5 2,234,213 1,246,822
Cash at bank 2,017,012 496,568
4,251,225 1,743,390
CREDITORS
Amounts falling due within one year 6 (2,042,969 ) (925,474 )
NET CURRENT ASSETS 2,208,256 817,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,280,679

862,946

PROVISIONS FOR LIABILITIES (17,589 ) (9,006 )
NET ASSETS 2,263,090 853,940

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 8 1,477,507 344,450
Retained earnings 8 785,582 509,489
SHAREHOLDERS' FUNDS 2,263,090 853,940

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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





R Hung-Sung Ho - Director


TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Notes to the Financial Statements
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022


1. COMPANY INFORMATION

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

The principal activity of the company in the period under review was that of the provision of Financial Supply Chain management platforms.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making this assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that the Company can continue to adopt the going concern basis in preparing the annual report and accounts

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less accumulated depreciation and impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, fittings and equipment - 50% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

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
The financial effect of equity settled awards of options over the parent company's equity shares, to the employees of the company, are recognised as an expense and also within equity as a capital contribution from the parent equivalent to the expense in the year.

The cost of equity-settled transactions between the parent company and the company's employees is measured by the parent with reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. These amounts are calculated by the company's parent and charged to the company on a regular basis.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 48 (2022 - 43 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2022 102,656
Additions 70,075
At 31 December 2022 172,731
DEPRECIATION
At 1 February 2022 57,626
Charge for period 42,682
At 31 December 2022 100,308
NET BOOK VALUE
At 31 December 2022 72,423
At 31 January 2022 45,030

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/1/22
£    £   
Trade debtors 202,850 195,697
Amounts owed by group undertakings 1,802,072 903,847
Other debtors 98,739 30,279
VAT 26,047 10,060
Prepayments and accrued income 104,505 106,939
2,234,213 1,246,822

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/1/22
£    £   
Trade creditors 111,491 74,390
Amounts owed to group undertakings 13,220 -
Tax 283,053 78,785
Social security and other taxes 389,255 192,421
Accruals and deferred income 1,245,950 579,878
2,042,969 925,474

Included in accruals are £26,030 (Jan 2022 - £22,949) of pension contributions not paid over to the pension scheme administrator. These were paid shortly after the period-end.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/22 31/1/22
£    £   
Within one year 208,680 -
Between one and five years 104,340 -
313,020 -

8. RESERVES

Other reserves represent a capital contribution to the company by it's ultimate parent in the form of share based payments, designated as restricted stock units.

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

The Report of the Auditors was unqualified.

Matthew Bracher BSc FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Partnership (Bristol) Limited

TAULIA UK LTD (REGISTERED NUMBER: 08705919)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 DECEMBER 2022


10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Taulia LLC, a company based in the United States of America.

The ultimate controlling party is SAP SE.

At the year end an amount of £1,773,044 (January 2022: £653,637) was owed to the company by Taulia LLC, this amount is interest free and repayable on demand.

At the year end an amount of £10,260 (January 2022: £13,375) was owed to the company by Taulia Bulgaria, this amount is interest free and repayable on demand.

At the year end an amount of £2,341 (January 2022: £1,441) was owed to the company by Taulia Australia, this amount is interest free and repayable on demand.

At the year end an amount of £11,984 (January 2022: £237,715) was owed to the company by Taulia Singapore, this amount is interest free and repayable on demand.

At the year end an amount of £4,443 (January 2022: £2,322) was owed to the company by Taulia GmbH, this amount is interest free and repayable on demand.

At the year end an amount of £13,220 (January 2022: £NIL) was owed by the company to SAP SE, this amount is interest free and repayable on demand.