REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2024 |
for |
COCKROACH LABS UK LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2024 |
for |
COCKROACH LABS UK LIMITED |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COCKROACH LABS UK LIMITED |
Company Information |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
5th Floor |
111 Charterhouse Street |
London |
EC1M 6AW |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Balance Sheet |
31 JANUARY 2024 |
2024 | 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 |
Revaluation reserve | 7 | ( |
) | ( |
) |
Other reserves | 7 |
Retained earnings | 7 |
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 |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Cockroach Labs UK Limited is a private company limited by shaers incorporated in England and Wales. The address of its registered address is 5 New Street Square, London, United Kingdom, EC4A 3TW. |
The financial statements are presented in US Dollars ($), monetary amounts in these financial statements are rounded to the nearest $. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Revenue |
Turnover is derived from recharged expenses to the parent company and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report. |
The Company relied on the continued support from its parent company, Cockroach Labs, Inc. which has confirmed it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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-marketing 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. |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
Creditors |
Short term creditors are measured at the transaction price. |
Operating leases: the Company as lessee |
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS |
2024 | 2023 |
$ | $ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Deposits | 56,486 | 55,684 |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
$ | $ |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
6. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
$ | $ |
Within one year |
Between one and five years |
7. | RESERVES |
Retained | Revaluation | Other |
earnings | reserve | reserves | Totals |
$ | $ | $ | $ |
At 1 February 2023 | ( |
) | 2,293,629 |
Profit for the year |
Share based payment | - | - | 1,298,088 | 1,298,088 |
At 31 January 2024 | ( |
) | 3,749,004 |
Retained earnings - represents accumulated profits and losses net of distribution to owners. |
Other reserves - represents capital contributions in connection with the recharged share-based payment expenses from Cockroach Labs Inc to employees of Cockroach Labs UK Limited. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
COCKROACH LABS UK LIMITED (REGISTERED NUMBER: 12329744) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
9. | PENSION COMMITMENTS |
The company operates a defined contributions 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 $169,128 (2023: $0). Contributions totalling $55,295 (2023: $23,265 ) were payable to the fund at the reporting date and are included in creditors. |
10. | ULTIMATE CONTROLLING PARTY |
The smallest group for which consolidated financial statements are drawn up is headed by Cockroach Labs, Inc. whose registered office is 251 Little Falls Drive Wilmington, DE 19808. |
11. | SHARE-BASED PAYMENT TRANSACTIONS |
The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity. |