Acorah Software Products - Accounts Production 16.0.110 false true true 31 January 2023 1 February 2022 false 31 October 2024 1 February 2023 31 January 2024 31 January 2024 07929186 S Dickson J Yavil Taylor Wessing Secretaries Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07929186 2023-01-31 07929186 2024-01-31 07929186 2023-02-01 2024-01-31 07929186 frs-core:CurrentFinancialInstruments 2024-01-31 07929186 frs-core:ComputerEquipment 2024-01-31 07929186 frs-core:ComputerEquipment 2023-02-01 2024-01-31 07929186 frs-core:ComputerEquipment 2023-01-31 07929186 frs-core:ShareCapital 2024-01-31 07929186 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07929186 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07929186 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07929186 frs-bus:SmallEntities 2023-02-01 2024-01-31 07929186 frs-bus:Audited 2023-02-01 2024-01-31 07929186 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07929186 1 2023-02-01 2024-01-31 07929186 frs-bus:Director1 2023-02-01 2024-01-31 07929186 frs-bus:Director2 2023-02-01 2024-01-31 07929186 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 07929186 frs-countries:EnglandWales 2023-02-01 2024-01-31 07929186 2022-01-31 07929186 2023-01-31 07929186 2022-02-01 2023-01-31 07929186 frs-core:CurrentFinancialInstruments 2023-01-31 07929186 frs-core:ShareCapital 2023-01-31 07929186 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 07929186
Netwrix (UK) Limited
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07929186
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,030 49,145
51,030 49,145
CURRENT ASSETS
Debtors 5 1,630,571 1,667,223
1,630,571 1,667,223
Creditors: Amounts Falling Due Within One Year 6 (448,176 ) (473,703 )
NET CURRENT ASSETS (LIABILITIES) 1,182,395 1,193,520
TOTAL ASSETS LESS CURRENT LIABILITIES 1,233,425 1,242,665
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (13,081 ) (13,081 )
NET ASSETS 1,220,344 1,229,584
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 1,220,343 1,229,583
SHAREHOLDERS' FUNDS 1,220,344 1,229,584
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J Yavil
Director
31/10/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Netwrix (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07929186. The registered office is 5 New Street Square, London, EC4A 3TW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% Straight line
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2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Where investments in nonconvertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.
All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment.
Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.7. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 61 (2023: 57)
61 57
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 49,848
Additions 21,142
As at 31 January 2024 70,990
Depreciation
As at 1 February 2023 703
Provided during the period 19,257
As at 31 January 2024 19,960
Net Book Value
As at 31 January 2024 51,030
As at 1 February 2023 49,145
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5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 1,036,979 1,248,391
Other debtors 593,592 418,832
1,630,571 1,667,223
All amounts owed by group undertakings are interest free, unsecured and repayable on demand.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 169,687 108,847
Other creditors 243,717 258,406
Taxation and social security 34,772 106,450
448,176 473,703
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 13,081 13,081
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Pension Commitments
The company operates a defined contribution pension scheme for. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £17,428 (2023: £nil) were due to the fund. They are included in Trade Creditors.
10. Related Party Transactions
The directors have considered that there are no material transactions that the company has entered into that have not been concluded under normal market conditions.
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11. Ultimate Parent Undertaking and Controlling Party
The company is a wholly owned subsidiary of Netwrix Corporation, a company incorporated in the United States of America whose principal place of business is 6160 Warren Parkway, Suite 100, Frisco, TX, US 75034.

The parent of the smallest group for which consolidated financial statements are drawn up of which Netwrix (UK) Limited is a member of is Netwrix Corporation whose registered address is 12 North State Route 17, Suite 104, Paramus, New Jersey, USA, 07652
12. Audit Information
The auditors report on the account of Netwrix (UK) Limited for the year ended 31 January 2024 was qualified
The basis of qualification in the auditor's report was as follows:
The company has not recognised its investments in subsidiaries in the balance sheet, which is not in compliance with the requirements of Financial Reporting Standard (FRS) 102, Section 9 "Consolidated and Separate Financial Statements." Under this standard, an entity is required to present its investments either at cost less impairment or at fair value. The absence of these investments from the Balance Sheet means that the financial statements do not provide a true and fair view of the Company's financial position, as required by the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
The matters required to report by exception are stated below:
The auditor's report was signed by Khushil Gokani (FCA) Statutory Auditor
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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