REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
FOR |
PROCESSUNITY UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
FOR |
PROCESSUNITY UK LIMITED |
PROCESSUNITY UK LIMITED (REGISTERED NUMBER: 14347709) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PROCESSUNITY UK LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
71-75 Shelton Street |
Covent Garden |
London |
London |
WC2H 9JQ |
PROCESSUNITY UK LIMITED (REGISTERED NUMBER: 14347709) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROCESSUNITY UK LIMITED (REGISTERED NUMBER: 14347709) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
ProcessUnity UK Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
These financial statements have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements. No adjustment has been made to these financial statements that would arise as a result of the withdrawal of that support. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The Company is contracted by its parent company ProcessUnity Inc. to deliver sales and marketing services under an intercompany agreement. The Company is remunerated by its parent for these services. |
Taxation |
Taxation for the period 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. |
PROCESSUNITY UK LIMITED (REGISTERED NUMBER: 14347709) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
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. |
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 |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
VAT |
PROCESSUNITY UK LIMITED (REGISTERED NUMBER: 14347709) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 SEPTEMBER 2022 TO 30 SEPTEMBER 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Corporation tax |
Pension creditor | 3,333 |
Accrued expenses |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | 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. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Marlin Equity V, L.P.. The company is a wholly owned subsidiary of ProcessUnity, 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 ProcessUnity, Inc., with its registered office at 33 Bradford St, Concord, MA 01742. |