Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31502023-02-01falseThe principal activity of the business is data processing, hosting and related activities.45truetrue 13462764 2023-02-01 2024-01-31 13462764 2022-02-01 2023-01-31 13462764 2024-01-31 13462764 2023-01-31 13462764 c:Director6 2023-02-01 2024-01-31 13462764 d:Goodwill 2023-02-01 2024-01-31 13462764 d:Goodwill 2024-01-31 13462764 d:Goodwill 2023-01-31 13462764 d:CurrentFinancialInstruments 2024-01-31 13462764 d:CurrentFinancialInstruments 2023-01-31 13462764 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13462764 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13462764 d:ShareCapital 2024-01-31 13462764 d:ShareCapital 2023-01-31 13462764 d:OtherMiscellaneousReserve 2023-02-01 2024-01-31 13462764 d:OtherMiscellaneousReserve 2024-01-31 13462764 d:OtherMiscellaneousReserve 2023-01-31 13462764 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 13462764 d:RetainedEarningsAccumulatedLosses 2024-01-31 13462764 d:RetainedEarningsAccumulatedLosses 2023-01-31 13462764 c:OrdinaryShareClass1 2023-02-01 2024-01-31 13462764 c:OrdinaryShareClass1 2024-01-31 13462764 c:OrdinaryShareClass1 2023-01-31 13462764 c:FRS102 2023-02-01 2024-01-31 13462764 c:Audited 2023-02-01 2024-01-31 13462764 c:FullAccounts 2023-02-01 2024-01-31 13462764 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13462764 c:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13462764 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 13462764 2 2023-02-01 2024-01-31 13462764 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13462764









HOTJAR UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
HOTJAR UK LIMITED
REGISTERED NUMBER: 13462764

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,363,858
-

  
3,363,858
-

Current assets
  

Debtors: amounts falling due within one year
 5 
13,514
10,740

Cash at bank and in hand
  
226,446
732,343

  
239,960
743,083

Creditors: amounts falling due within one year
 6 
(7,835,722)
(1,973,222)

Net current liabilities
  
 
 
(7,595,762)
 
 
(1,230,139)

Total assets less current liabilities
  
(4,231,904)
(1,230,139)

  

Net liabilities
  
(4,231,904)
(1,230,139)


Capital and reserves
  

Called up share capital 
 7 
100
100

Capital contribution
 8 
661,717
407,469

Profit and loss account
 8 
(4,893,721)
(1,637,708)

  
(4,231,904)
(1,230,139)


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: 






B Fouilland
Director

Page 1

 
HOTJAR UK LIMITED
REGISTERED NUMBER: 13462764
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

Date: 31 October 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Hotjar UK Limited  ("the Company") is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the company is that of data processing, hosting and related activities.
The Registered Office is 10 Devonshire Square, London, EC2M 4YP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' ("FRS 102") and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is dependent on the continued support of a group entity to allow it to meet its financial obligations as they fall due.The directors are confident that the support will continue for at least twelve months from the date of approval of these financial statements.
For these reasons, the directors continue to adopt the going concen basis in preparing the annual report and financial statements

Page 3

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling.

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 the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Page 4

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates 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 in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the Statement of Comprehensive Income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting 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 fair value of the options, measured immediately before and after the modification, is also charged to the Statement of Comprehensive Income over the remaining vesting period

Page 5

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in the Statement of Comprehensive Income 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

 
2.11

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.

Page 6

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

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.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at mtransaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


3.


Employees

The average monthly number of employees, including directors, during the year was 50 (2023 - 45).

Page 7

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Goodwill

£



Cost


Additions
3,636,603



At 31 January 2024

3,636,603



Amortisation


Charge for the year
272,745



At 31 January 2024

272,745



Net book value



At 31 January 2024
3,363,858



At 31 January 2023
-




5.


Debtors

2024
2023
£
£


Other debtors
13,514
240

Prepayments and accrued income
-
10,500

13,514
10,740


Page 8

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Amounts owed to group undertakings
7,636,421
1,817,387

Other taxation and social security
159,989
143,835

Other creditors
22,444
-

Accruals and deferred income
16,868
12,000

7,835,722
1,973,222


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


7.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Reserves

Capital Contribution

The capital contribution represents the valuation of share options granted to employees in the ultimate parent undertaking, Content Square SAS.

Profit and loss account

Includes all current and prior period retained profits and losses. 

Page 9

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Share-based payments

Certain employees were granted share options over Ordinary shares of the ultimate parent undertaking, Content Square SAS, a company incorporated in France, and FRS 102 Section 26 (share-based payments) is applicable. The charge is treated as an expense in this Company's financial statements as the relevant option holders are employees of this company.

Weighed average exercise price (Euros)
2024
Number
2024
Weighed average exercise 
price (Euros)
2023
Number
2023

Outstanding at the beginning of the year

6.51

326,687

6.65
 
234,000
 
Granted during the year

6.38

105,500

7.39
 
181,000
 
Forfeited during the year

6.52

(48,729)

6.65
 
(88,313)
 
Transferred during the year

6.52

(18,000)

 
-
 
Outstanding at the end of the year
6.51

365,458

6.51
 
326,687
 

The Company is unable to directly measure the fair value of employee services received. Instead, the fair value charge of the share options was determined using a simplified black-Scholes model with the following parameters:

2024
2023

Option pricing model used


Black-Scholes

Black- Scholes
 
Weighted average share price (€)


6.38

7.39
 
Exercise price (€)


6.38

7.39
 
Weighted average contractual life (days)


1461

1461
 
Expected volatility


42%

42%
 
Expected dividend growth rate


0.00%

0.00%
 
Risk-free interest rate


2.8%

1.65%
 

The total charge to the Statement of Comprehensive Income for the period was as follows:

2024
2023
£
£


Equity-settled schemes
254,248
302,874

254,248
302,874

The charge is treated as an expense in the Statement of Comprehensive Income and as a Capital Contribution by the parent undertaking, Content Square SAS.

Page 10

 
HOTJAR UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Prior year adjustment

 The comparative information has been changed from the figures previously shown in the financial statements for the year ended 31 January 2023. 
This has resulted in a decrease in income as previously reported of £687,099 with a corresponding increase in creditors. 


11.


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 £20,982 (2023: £Nil) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

The company has taken advantage of the exemption conferred by Section 33.1A of Financial Reporting Standard 102: Related Party Disclosures, from the requirement to disclose transactions with other wholly-owned group undertakings.


13.


Controlling party

The immediate parent undertaking is Hotjar Limited, a company incorporated in Malta. 
The ultimate parent undertaking Content Square SAS, a company incorporated in France which prepares consolidated accounts.
There is no ultimate controlling party.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 1 November 2024 by David Landau FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 11