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REGISTERED NUMBER: 13094159 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SIGHT SCIENCES UK, LTD

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SIGHT SCIENCES UK, LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Hayden
A Bauerlein





REGISTERED OFFICE: 5 New Street Square
London
EC4A 3TW





REGISTERED NUMBER: 13094159 (England and Wales)





AUDITORS: Byrd Link Audit & Accountancy Services Limited
Honeybourne Place
Jessop Avenue
Cheltenham
Gloucestershire
GL50 3SH

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 904,540 579,574
Cash at bank 114,949 126,152
1,019,489 705,726
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

5

(280,362

)

(299,581

)
NET CURRENT ASSETS 739,127 406,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

739,127

406,145


CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Other reserves 532,469 281,087
Retained earnings 205,658 124,058
SHAREHOLDERS' FUNDS 739,127 406,145
739,127 406,145

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 9 September 2024 and were signed on its behalf by:





J Hayden - Director


SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

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


1. STATUTORY INFORMATION

Sight Sciences UK, Ltd 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 the Pound Sterling (£).


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.

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

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

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.

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Debtors and creditors
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on Debtors.

Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The directors have sought and received assurances from the parent company that financial support will be forthcoming for the next 12 months. Having regard to the above and in assessing the going concern the directors have confirmed continued financial support will be provided for the foreseeable future on that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 Statement of financial position 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 fairvalue of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings 878,082 568,941
Other debtors 9,579 5,950
VAT 16,879 4,683
904,540 579,574

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 11,448
Corporation tax 88,279 76,377
Social security and other taxes 41,749 44,300
Pension costs 15,073 11,442
Accrued expenses 135,261 156,014
280,362 299,581

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 16,500 3,459
Between one and five years 8,250 -
24,750 3,459

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary 1 1,000 1,000

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

The Report of the Auditors was unqualified.

Russel Byrd FCA (Senior Statutory Auditor)
for and on behalf of Byrd Link Audit & Accountancy Services Limited

9. RELATED PARTY DISCLOSURES

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.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Sight Sciences Inc.

The Company is a wholly owned subsidiary of Sight Sciences Inc., a company incorporated in the United States of America. The smallest group in which the results of the Company are consolidated is that headed by Sight Sciences, Inc., with its registered office at 4040 4040 Campbell Ave Ste 100, Menlo Park 94025, USA

SIGHT SCIENCES UK, LTD (REGISTERED NUMBER: 13094159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. SHARE-BASED PAYMENT TRANSACTIONS

The Company's ultimate parent company, Sight Sciences Inc operates a share based payment scheme for all the employees of the Company. The stock options in Sight Sciences Inc are granted to the Company's employees at a price equal to the fair value of the shares in Sight Sciences Inc at the date of the grant and are denominated in US dollars. The stock options have a four year vesting period. If the stock options remain unexercised after a period of ten years from the date of the grant the stock options expire. Stock options are forfeited if the employee leaves the Company before the options vest. The Company did not enter into any share based payment transaction with parties other than employees during the year.