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Registration number: 07875689

ESET Research UK Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

ESET Research UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

ESET Research UK Limited

(Registration number: 07875689)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

90,945

35,565

Current assets

 

Debtors

6

208,825

173,454

Cash at bank and in hand

 

705,043

801,056

 

913,868

974,510

Creditors: Amounts falling due within one year

7

(128,109)

(138,701)

Net current assets

 

785,759

835,809

Total assets less current liabilities

 

876,704

871,374

Provisions for liabilities

8

(63,314)

(59,548)

Net assets

 

813,390

811,826

Capital and reserves

 

Called up share capital

16,908

16,908

Share premium reserve

697,787

697,787

Retained earnings

98,695

97,131

Shareholders' funds

 

813,390

811,826

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 5 March 2025
 


Mr P Luka
Director

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Heron Gate Office Park
Hankridge Way
Taunton
Somerset
TA1 2LR

These financial statements were authorised for issue by the director on 5 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 7 March 2025 was Robert Cadwallader, who signed for and on behalf of ML Audit LLP.

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Where a service is provided covering a future period the applicable revenue is recognised as deferred income and shown within other creditors.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

10% - 25% straight line

Leasehold improvements

Over the term of the lease

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Intangible assets

Patents are shown at historical cost. They have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

written off over its useful economic life of 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Short and Long Term Employee Benefits

The company recognises all forms of consideration provided by the company in exchange for services rendered by employees, or for termination of employment, as employee benefit obligations. These liabilities are recognised in the period in which the company received the services provided by the employees.

Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service.

Liabilities recognised in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the company in respect of services provided by the employees up to the reporting date.

Estimated employee benefit obligations are included in the line Provisions for Liabilities in the financial statements.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 13 (2023 - 13).

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Patents
 £

Total
£

Cost or valuation

At 1 January 2024

11,624

11,624

At 31 December 2024

11,624

11,624

Amortisation

At 1 January 2024

11,624

11,624

At 31 December 2024

11,624

11,624

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Leasehold improvements
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

21,468

194,260

215,728

Additions

8,637

66,621

75,258

Disposals

-

(42,996)

(42,996)

At 31 December 2024

30,105

217,885

247,990

Depreciation

At 1 January 2024

13,214

166,949

180,163

Charge for the year

3,594

15,744

19,338

Eliminated on disposal

-

(42,456)

(42,456)

At 31 December 2024

16,808

140,237

157,045

Carrying amount

At 31 December 2024

13,297

77,648

90,945

At 31 December 2023

8,254

27,311

35,565

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

159,230

131,416

Other debtors

 

15,062

21,810

Prepayments

 

34,533

8,888

Deferred tax assets

-

11,340

 

208,825

173,454

7

Creditors

Due within one year

Note

2024
£

2023
£

Trade creditors

 

2,506

7,270

Social security and other taxes

 

39,383

39,011

Other creditors

 

11,477

10,369

Accruals and deferred income

 

74,743

82,051

 

128,109

138,701

8

Provisions for liabilities

Employee benefits
£

Deferred tax
£

Total
£

At 1 January 2024

59,548

-

59,548

Increase/(decrease) in existing provisions

(1,834)

5,600

3,766

At 31 December 2024

57,714

5,600

63,314

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £107,500 (2023 - £137,500).

 

ESET Research UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

10

Related party transactions

The company has taken advantage of the exemption available under FRS 102 Section 1A from disclosing transactions or balances with its ultimate parent entity or any other wholly owned subsidiary undertaking of the group.

11

Parent and ultimate parent undertaking

The company's immediate parent is ESET, spol. s r.o., incorporated in Slovakia.

 The most senior parent entity producing publicly available financial statements is ESET, spol. s r.o.. These financial statements are available upon request from Einsteinova 24, 851 01, Bratislava, Slovakia.