Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falseNo description of principal activity2023-02-011815falsetruefalse 11252070 2023-02-01 2024-01-31 11252070 2022-02-01 2023-01-31 11252070 2024-01-31 11252070 2023-01-31 11252070 c:Director2 2023-02-01 2024-01-31 11252070 d:CurrentFinancialInstruments 2024-01-31 11252070 d:CurrentFinancialInstruments 2023-01-31 11252070 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11252070 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11252070 d:ShareCapital 2024-01-31 11252070 d:ShareCapital 2023-01-31 11252070 d:RetainedEarningsAccumulatedLosses 2024-01-31 11252070 d:RetainedEarningsAccumulatedLosses 2023-01-31 11252070 c:FRS102 2023-02-01 2024-01-31 11252070 c:Audited 2023-02-01 2024-01-31 11252070 c:FullAccounts 2023-02-01 2024-01-31 11252070 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11252070 c:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11252070 7 2023-02-01 2024-01-31 11252070 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 11252070









CORELIGHT UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
CORELIGHT UK LTD
REGISTERED NUMBER: 11252070

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
970,083
919,391

Cash at bank and in hand
 5 
129,406
144,016

  
1,099,489
1,063,407

Creditors: amounts falling due within one year
 6 
(491,233)
(584,653)

Net current assets
  
 
 
608,256
 
 
478,754

Net assets
  
608,256
478,754


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
608,156
478,654

  
608,256
478,754


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 profit and loss account 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: 


................................................
R Keefe
Director

Date: 18 December 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
CORELIGHT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Corelight UK Ltd (the Company) is a company incorporated in the United Kingdom under the Companies Act 2006.
The Company is a private company limited by shares and is registered in England & Wales. The address of the Company's registered office is Suite 4, 7th Floor, 50 Broadway, London, SW1H 0DB.
The principal activity of the Company is to provide sales services for its parent company, Corelight, Inc.

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' 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors of the company have received confirmation of continued financial support for the foreseeable future from the parent company, Corelight, Inc.
The parent company has prepared forecasts that demonstrate that the group should be able to operate within the level of its current facilities for at least 12 months from the date of approval of these financial statements. 
After making due enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 2

 
CORELIGHT UK LTD
 
 
 
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 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.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Revenue

All revenue is derived from the ultimate parent company, Corelight, Inc., under the transfer pricing agreement in place. Revenue is recognised when chargeable costs are incurred and is exclusive of VAT.

 
2.5

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
CORELIGHT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Share-based payments

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. 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 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.

 
2.7

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.

Page 4

 
CORELIGHT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 5

 
CORELIGHT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 15).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
805,923
691,554

Other debtors
10,045
47,841

Prepayments and accrued income
126,068
151,949

Deferred taxation
28,047
28,047

970,083
919,391



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
129,406
144,016



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
35,751
36,008

Corporation tax
56,544
86,335

Other taxation and social security
176,931
161,428

Other creditors
19,978
21,433

Accruals and deferred income
202,029
279,449

491,233
584,653



7.


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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £87,126 (2023: £79,962). Contributions totalling £13,605 (2023: £16,175) were payable to the fund at the balance sheet date and are included in other creditors.

Page 6

 
CORELIGHT UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Controlling party

The ultimate parent company and controlling party is Corelight, Inc., a company incorporated in the United States of America, which is the parent company of the smallest and largest group to consolidate these financial statements. The registered office of Corelight, Inc. is 111 New Montgomery Street, San Francisco, California, USA, 94105.


9.


Auditor's information

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

The audit report was signed on 20 December 2024 by Karen Cairns (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 7