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Registered Number:13013347













DEEPL UK LTD





FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023











 
DEEPL UK LTD
REGISTERED NUMBER:13013347


BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
250,679
125,779

  
250,679
125,779

Current assets
  

Debtors: amounts falling due within one year
 5 
2,782,808
898,354

Cash at bank and in hand
  
298,612
96,290

  
3,081,420
994,644

Creditors: amounts falling due within one year
 6 
(1,879,263)
(280,352)

Net current assets
  
 
 
1,202,157
 
 
714,292

Total assets less current liabilities
  
1,452,836
840,071

Creditors: amounts falling due after more than one year
  
(522,360)
(532,111)

Provisions for liabilities
  

Deferred tax
  
(58,513)
(28,538)

  
 
 
(58,513)
 
 
(28,538)

Net assets
  
871,963
279,422


Capital and reserves
  

Called up share capital 
 7 
22,000
22,000

Profit and loss account
  
849,963
257,422

  
871,963
279,422


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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.
 


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DEEPL UK LTD
REGISTERED NUMBER:13013347

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2024.


M Harder
Director

The notes on pages 4 to 10 form part of these financial statements.


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DEEPL UK LTD
REGISTERED NUMBER:13013347


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
22,000
72,525
94,525


Comprehensive income for the year

Profit for the year
-
184,897
184,897
Total comprehensive income for the year
-
184,897
184,897



At 1 January 2023
22,000
257,422
279,422


Comprehensive income for the year

Profit for the year
-
592,541
592,541
Total comprehensive income for the year
-
592,541
592,541


At 31 December 2023
22,000
849,963
871,963



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DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

DeepL UK is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, One London Wall, London, United Kingdom, EC2Y 5EB.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. 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 following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date these financial statements were approved. This is due to the ongoing support of the parent company. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company benefits from the support of its parent, DeepL SE in the form of reimbursement at an agreed margin, for trading expenditure and operating overheads incurred in delivering services to its customers. The director has obtained confirmation from the parent company that it is committed to support the activities of DeepL UK Ltd and will continue to provide sufficient funds, as part of that support, to enable DeepL UK Ltd to meet its liabilities as they fall due for at least 12 months from the date of signing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover is recognised in respect of administrative services provided to its parent company, its sole customer, as they are provided on an accruals basis.

 
2.4

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.


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DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)


Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives  on the following basis:

Fixtures, fittings and computers
-
33%
Straight Line


Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have sufferred an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for thr impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss beem recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant assset is carried at the revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

 
2.6

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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

- 5 -



 
DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all is liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.



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DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the costs of stock or fixed assets.
The cost of any unusued holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

 
2.11

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.




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DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational 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.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Total
78
24


- 8 -



 
DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
21,906
142,911
164,817


Additions
875
211,160
212,035



At 31 December 2023

22,781
354,071
376,852



Depreciation


At 1 January 2023
8,372
30,666
39,038


Charge for the year on owned assets
13,417
73,718
87,135



At 31 December 2023

21,789
104,384
126,173



Net book value



At 31 December 2023
992
249,687
250,679



At 31 December 2022
13,534
112,245
125,779


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2,638,175
816,227

Other debtors
49,616
50,612

Prepayments and accrued income
95,017
31,515

2,782,808
898,354



- 9 -



 
DEEPL UK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
113,536
44,051

Amounts owed to group undertakings
848,932
-

Corporation tax
156,361
19,003

Other taxation and social security
-
105,781

Accruals and deferred income
760,434
111,517

1,879,263
280,352



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,200,000 (2022 - 2,200,000) Ordinary shares shares of £0.01 each
22,000
22,000



8.


Controlling party

The parent undertaking is DeepL SE , Maarweg 165, 50825 Köln, Germany.
As the current financial year end, the parent company does not prepare consolidated financial statements.


9.


Prior year adjustment

During the year, the Director reviewed the allocation of overheads and reclassified certain items between cost of sales and administrative expenses to better reflect the true nature of the transactions.  There is no impact on opening reserves.
Intercompany debt amounting to £532,111 in the year ended 31 December 2022 has been reclassified from current liabilities to long-term liabilities.  There is no impact on opening reserves.


10.


Auditor's information

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

The audit report was signed on 19 November 2024 by Steven Burgess (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 

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