SCIBIDS TECHNOLOGY UK LTD
Directors: J. Hirth
R. Lemonnier
Registered office: 11 Old Jewry
London
EC2R 8DU
Registered No: 11976509 (England & Wales)
Independent Auditors: Levy Cohen & Co.
Registered Auditors
5.2 Central House
1 Ballards Lane
N3 1LQ
Annual reports and financial statements
For the year ended 31 December 2023
page
Statement of financial position 1
Notes to the financial statements 2-6
SCIBIDS TECHNOLOGY UK LTD
Statement of financial position as at 31 December 2023
31.12.2023 31.12.2022
Notes £ £ £
Fixed assets
Plant & machinery 5 0 60
Current assets
Debtors 6 246,182 167,443
Cash at Bank and in hand 80,721 63,464
326,903 230,907
Creditors: amounts falling due
within one year 7 (186,957) (136,156)
Net current assets 139,946 94,751
Total net assets 139,946 94,811
Capital and Reserve
31.12.2023 31.12.2022
£ £ £
Called up share capital 8 1 1
Profit and loss account 139,945 94,810
Shareholders' fund 139,946 94,811
The accounts have been prepared and delivered in accordance with special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
_________________________
J. Hirth
Director
Company number: 11976509 2 September 2024
SCIBIDS TECHNOLOGY UK LTD
Notes to the financial statements - 31 December 2023
COMPANY INFORMATION
1. Company Information
Scibids Technology UK Ltd is a private limited company incorporated and domiciled in England & Wales. The address of its registered office is 11 Old Jewry, London, EC2R 8DU.
The company is a wholly owned subsidiary of Scibids Technology SAS, a company incorporated in France, whose address is 4 Rue de Berri, Paris, 75008.
2. Accounting Policies
2.1 Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention and in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Going concern
The company has a positive capital and reserve and positive net current assets.
The company is profitable and will continue to be profitable in the future as according to the group TP policy, the company is entitled to a fixed margin on the services provided to the parent company. The company and the Scibids group are both operationally and financially inextricably linked. Having considered the cash flow of the group and the group's cash reserves, and after making enquiries of the directors of the parent undertaking, the directors have reasonable expectations that the company and the group have adequate resources to continue an operational existence and meet their liabilities for a period of at least 12 months from the date these financial statements were approved.
Taking into account the above, the directors are of the opinion that the company can continue to operate as a going concern.
2.3 Turnover
Turnover represents net invoice of services provided excluding VAT.
2.4 Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amounts receivable for services provided to the group during the year.
2.5 Foreign currencies
Assets and liabilities in foreign currencies are translated into Sterling at the rate of exchange ruling at the Balance Sheet date. Transaction in Foreign currencies are translated into Sterling at the rate of exchange ruling at the date of the transaction.
SCIBIDS TECHNOLOGY UK LTD
Notes to the financial statements - 31 December 2023
Accounting Policies continued/…..
2.6 Debtors
Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment.
2.7 Creditors
Basic financial liabilities including trade and other payable are measured at transaction price.
2.8 Current & deferred taxation
Deferred taxation is provided using the liability method to take into account timing from the inclusion of items of expenditure in taxation computations in periods that differ from those differences arising in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income.
2.9 Operating leases
Rental paid under operating leases is charged to profit and loss on a straight line basis over the lease term.
2.10 Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements, paid
holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised
as an expense in the period in which the service is received.
(ii) Bonus plan
The company operates annual bonus plan for employees and expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payment under the plan as a result of passed events and reliable estimation of the obligation can be made.
SCIBIDS TECHNOLOGY UK LTD
Notes to the financial statements - 31 December 2023
Accounting Policies continued/…..
2.10 Employee benefits (continued)
(iii) Defined contribution pension plans
The company operated 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 when they are due. Amounts not paid are shown in
accruals in the balance sheet. The assets of the plan are held separately from the company in
independently administered funds.
3. Employee information
2023 2022
The average number of employees during the year was: 6 7
4. Directors' remuneration
2023 2022
Number of paid directors - -
5. Plant & machinery
Computers Total
£ £
Cost:
At 1 January 2023 1,545 1,545
At 31 December 2023 1,545 1,545
Depreciation:
At 1 January 2023 1,485 1,485
Charge for the year 60 60
At 31 December 2023 1,545 1,545
Net book value:
At 31 December 2023 - 0
At 31 December 2022 60 60
SCIBIDS TECHNOLOGY UK LTD
Notes to the financial statements - 31 December 2023
6. Debtors
31.12.2023 31.12.2022
£ £
Parent company 202,825 137,050
Other debtors 14,280 6,318
VAT 18,611 20,746
Prepayments 10,466 3,329
246,182 167,443
7. Creditors: amounts falling due
within one year
31.12.2023 31.12.2022
£ £
Trade creditors 7,851 35,199
Corporation tax 16,832 14,304
Other taxes and social services 23,902 45,804
Pension 1,541 1,284
Accruals 136,831 39,565
186,957 136,156
8. Share capital
31.12.2023 31.12.2022
£ £
Allotted, called up and fully paid:
1 ordinary shares at £1 1 1
SCIBIDS TECHNOLOGY UK LTD
Notes to the financial statements - 31 December 2023
9. Audit report information
As the income statement has been omitted from the filing of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444 (5B) of the Companies Act 2006. The auditor's report was unqualified.
The senior statutory auditor was Mr Josef Cohen
The auditor was Levy Cohen & Co
Date auditor signed accounts: 2 September 2024
Name of director signing accounts: J. Hirth
Date director signed accounts: 2 September 2024
10. Related Party Transactions
Control
The company's immediate parent company is Scibids Technology SAS, a company incorporated in France, whose address is 4 Rue de Berri, Paris, 75008.
The company's ultimate parent company is Doubleverify International Ltd, a company incorporated in the UK, whose registered office is 8th Floor, Farringdon Street, London, EC4A 4AB.
Transactions
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
11. Commitment:
There are no yearly commitments for a period of more than one year as at 31 December 2023.
SCIBIDS TECHNOLOGY UK LTD 11976509 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts (tagged by user) October 2023 release 2 Name of director signing accounts: J. Hirth No description of principal activity 11976509 2022-01-01 2022-12-31 11976509 core:WithinOneYear 2022-12-31 11976509 core:ShareCapital 2022-12-31 11976509 core:RetainedEarningsAccumulatedLosses 2022-12-31 11976509 2023-01-01 2023-12-31 11976509 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11976509 bus:Audited 2023-01-01 2023-12-31 11976509 bus:Director1 2023-01-01 2023-12-31 11976509 bus:Director2 2023-01-01 2023-12-31 11976509 bus:Director40 2023-01-01 2023-12-31 11976509 bus:FRS102 2023-01-01 2023-12-31 11976509 bus:FullAccounts 2023-01-01 2023-12-31 11976509 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11976509 2023-12-31 11976509 core:WithinOneYear 2023-12-31 11976509 core:ShareCapital 2023-12-31 11976509 core:RetainedEarningsAccumulatedLosses 2023-12-31 11976509 2022-12-31 iso4217:GBP xbrli:pure