REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
8 APRIL 2022 TO 31 DECEMBER 2022 |
FOR |
NETLIFY UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
8 APRIL 2022 TO 31 DECEMBER 2022 |
FOR |
NETLIFY UK LIMITED |
NETLIFY UK LIMITED (REGISTERED NUMBER: 14035691) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 8 APRIL 2022 TO 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NETLIFY UK LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 8 APRIL 2022 TO 31 DECEMBER 2022 |
Director: |
Registered office: |
Registered number: |
Auditors: |
5th Floor |
111 Charterhouse Street |
London |
EC1M 6AW |
NETLIFY UK LIMITED (REGISTERED NUMBER: 14035691) |
BALANCE SHEET |
31 DECEMBER 2022 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
NETLIFY UK LIMITED (REGISTERED NUMBER: 14035691) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 8 APRIL 2022 TO 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Netlify 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 presentation currency of the financial statements is rounded to its nearest Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from recharge expenses to the parent company and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet 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. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
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. |
Stock option expense |
Judgement and estimation are required in determining the fair value of shares at the date of award. The fair value is estimated using valuation techniques which take into account the award's term, the risk-free interest rate and the expected volatility of the market price of the Parent Company's shares. Judgement and estimation are also required to assess the number of options expected to vest. |
Going concern |
Going concern is a fundamental accounting concept that underlies the preparation of financial statements of all UK companies. Under the going concern concept it is assumed that a company will continue in operation and that there is neither the intention nor the need either to liquidate it or to cease trading. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
NETLIFY UK LIMITED (REGISTERED NUMBER: 14035691) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 8 APRIL 2022 TO 31 DECEMBER 2022 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company is wholly owned subsidiary of Netlify EMEA Limited a company incorporated in Ireland. As at the 31st December 2022 an amount £71,959 was owed to Netlify Inc. During the period the entity issued sales for an amount of £23,79,762 to Netlify Inc. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Netlify, Inc. which is incorporated in United States. The results of the Company are consolidated in the financial statements of Netlify, Inc. and publicly available from 512 2nd Street, Suite 200 San Francisco, CA 94107. |
9. | SHARE-BASED PAYMENT TRANSACTIONS |
Under the terms of their employment contracts the employees of the company are entitled to participate in the share based payment scheme of the parent company Netlify, Inc.During the period share options 123,695 have been granted, 8,487 exercised and 13,523 forfeited and expired. The share option as on 31 December 2022 is 101,682. |