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REGISTERED NUMBER: 14470779 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RETOOL UK LIMITED

RETOOL UK LIMITED (REGISTERED NUMBER: 14470779)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RETOOL UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: L S Franklin





Registered office: Suite 2 First Floor, Templeback
10 Temple Back
Bristol
BS1 6FL





Registered number: 14470779 (England and Wales)





Auditors: Hayvenhursts Limited
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

RETOOL UK LIMITED (REGISTERED NUMBER: 14470779)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,001 -

CURRENT ASSETS
Debtors: amounts falling due within one year 5 440,324 -
Debtors: amounts falling due after more than one
year

5

7,691

-
Cash at bank and in hand 20,544 100
468,559 100
CREDITORS
Amounts falling due within one year 6 (385,467 ) -
NET CURRENT ASSETS 83,092 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,093

100

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 19,663 -
Retained earnings 68,330 -
88,093 100

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





L S Franklin - Director


RETOOL UK LIMITED (REGISTERED NUMBER: 14470779)

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

1. STATUTORY INFORMATION

Retool UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

Turnover
Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax.

Turnover is recognised when chargeable costs are incurred.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life.

Plant and Machinery - 33% on cost (over 3 years)

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 initially recognised at transaction price.


RETOOL UK LIMITED (REGISTERED NUMBER: 14470779)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Stock option expense
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.

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 remaining in the entity's employment).

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 profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
Cost
Additions 5,001
At 31 December 2023 5,001
Net book value
At 31 December 2023 5,001

RETOOL UK LIMITED (REGISTERED NUMBER: 14470779)

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

4. TANGIBLE FIXED ASSETS - continued

Plant and machinery is transferred from the Parent Company at net book value on 31 December 2023.

5. DEBTORS
31/12/23 31/12/22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 388,842 -
Other debtors 51,482 -
440,324 -

Amounts falling due after more than one year:
Other debtors 7,691 -

Aggregate amounts 448,015 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Taxation and social security 96,994 -
Other creditors 288,473 -
385,467 -

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 359,505 -
Between one and five years 97,345 -
456,850 -

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth Williams (Senior Statutory Auditor)
for and on behalf of Hayvenhursts Limited

9. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking of the company is Retool, Inc. a company incorporated in United States of America. The registered office is based at 1550 Bryant Street, Suite 200, San Francisco, CA 94103, United States of America.