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LeaniX UK Limited

Registered number: 14638227
Annual report
For the period ended 31 December 2023

 
 14638227
31 December 2023
LEANIX UK LIMITED
REGISTERED NUMBER: 14638227

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
15,360

Debtors: amounts falling due within one year
 4 
46,880

Cash at bank and in hand
  
1,575,012

  
1,637,252

Creditors: amounts falling due within one year
 5 
(1,558,013)

Net current assets
  
 
 
79,239

Total assets less current liabilities
  
79,239

  

Net assets
  
79,239


Capital and reserves
  

Called up share capital 
 6 
1

Profit and loss account
 7 
79,238

Total equity
  
79,239


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: 




S P Wilkinson
Director

Date: 17 September 2024

The notes on pages 2 to 7 form part of these financial statements.

- 1 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

LeaniX UK Limited is a private company limited by shares and incorporated in England and Wales. Its registered number is 14638227. The address of its registered office is Mindspace, 9 Appold Street, London, United Kingdom, EC2A 2EP. 

2.Accounting policies

 
2.1

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:

 
2.2

Going concern

The Director has assessed the Company's ability to continue as a going concern and based on the availability of support from the Group, has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In doing this, the director has considered the results for the period, expectations of future trading. On the basis of this information the Director is satisfied that the Company will continue as a going concern and so the financial statements have been prepared on this basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'.

- 2 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue arises from cost recharges made to LeanIX GmbH, the immediate parent undertaking. 
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, value added tax and other sales taxes. 

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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 reporting date in the countries where the Company operates and generates income.

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

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

- 3 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.10

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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. 


3.


Employees

The average monthly number of employees, including the directors, during the period was 20.

- 4 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Debtors

2023
£

Due after more than one year

Other debtors
15,360

15,360


2023
£

Due within one year

Other debtors
17,516

Prepayments and accrued income
29,364

46,880



5.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
9,980

Amounts owed to group undertakings
102,130

Corporation tax
48,259

Other taxation and social security
332,184

Other creditors
923,395

Accruals and deferred income
142,065

1,558,013


The amounts owed to group undertakings are unsecured, interest free and repayable on demand.

- 5 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Share capital

2023
£
Allotted, called up and fully paid


1 ordinary share of £1
1


1 share was issued at par value on 3 February 2023.
The Company has one class of ordinary shares; the share has attached to it full voting, dividend and capital distribution rights.


7.


Reserves

Profit and loss account

This reserve includes the current period profits.


8.


Share-based payments

The immediate parent Company, LeanIX GmbH previously had a virtual employee stock option program (VESOP) in place for the benefit of employees of LeanIX UK Limited. Under the VESOP scheme, the beneficiaries were subject to certain conditions, entitled to certain payment upon the occurrence of certain trigger events. On 7 November 2023, LeanIX group was acquired by SAP SE which has led to the trigger event under the VESOP. Therefore, prior to entering into the sale and purchase agreement with SAP SE, LeanIX shareholder assumed all the VESOP obligations. The charge for the period under VESOP is £1,771,334.
After the acquisiton by SAP SE, LeanIX group is under a share-based payment program that is cash settled distributed to specific LeanIX UK employees and LeanIX UK will bear the costs related to this program.





2023
£


Cash-settled schemes
39,906

39,906


9.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £nil were payable to the fund at the reporting date and are included in creditors.

- 6 -

 
 14638227
31 December 2023
LEANIX UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Related party transactions

The Company is exempt from disclosing related party transactions undertaken with other wholly owned members of the group that have been concluded under normal market conditions.


11.


Post balance sheet events

There have been no significant events affecting the Company since the period end.


12.


Controlling party

The immediate parent company is LeanIX GmbH, a company incorporated in Germany. Its registered office address is Herzogspitalstraße 24, 80331 München, Germany.
The ultimate parent company is SAP SE, a company incorporated in Germany. Its registered office address is 16 Dietmar-Hopp-Allee, Walldorf, 69190  Germany.
The smallest and largest group in which the results of the company is that headed by SAP SE. The consolidated accounts of this company are available to the public and may be obtained from 16 Dietmar-Hopp-Allee, Walldorf, 69190 Germany.


13.


Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 19 September 2024 by Carolyn Robson (Senior Statutory Auditor) on behalf of Rouse Audit LLP.

- 7 -