Company Registration No. 15026607 (England and Wales)
SRS Acquiom Holdings UK Ltd
Financial statements
for the period ended 31 December 2024
Pages for filing with the registrar
SRS Acquiom Holdings UK Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 8
SRS Acquiom Holdings UK Ltd
Statement of financial position
As at 31 December 2024
1
2024
Notes
£
£
Fixed assets
Tangible assets
5
93,139
Investments
6
103,659
196,798
Current assets
Debtors
7
1,180,467
Cash at bank and in hand
111,266
1,291,733
Creditors: amounts falling due within one year
8
(1,488,436)
Net current liabilities
(196,703)
Net assets
95
Capital and reserves
Called up share capital
9
1
Profit and loss reserves
94
Total equity
95

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
Simon Sotomey
Director
Company Registration No. 15026607
SRS Acquiom Holdings UK Ltd
Notes to the financial statements
For the period ended 31 December 2024
2
1
Accounting policies
Company information

SRS Acquiom Holdings UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Love Lane, Third Floor, London, EC2V 7JN.

1.1
Reporting period

These financial statements cover a period of seventeen months from the incorporation date which is 25 July 2023 to 31 December 2024. The change in its accounting period is to align with other members of the group.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors adopt the going concern basis of accounting in preparing the financial statements.

 

In making their assessment, the directors have received a letter of support from their parent company and considered the potential funding requirements from the group as part of their detailed business plan. The directors future plans are to set up and grow operations in the UK and they have considered potential sensitivities around revenue achieved and funding required.

1.4
Turnover

Turnover represents revenue with connected group companies in respect of intercompany charges, this is in accordance with relevant transfer pricing arrangements. Revenue is recognised on an accruals basis when the corresponding expenses are incurred.

 

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
1
Accounting policies (continued)
3
1.5
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.

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 bases:

Leasehold improvements
Straight line over the term of the lease

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
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 suffered 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 immediately 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 the 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 been 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 asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
1
Accounting policies (continued)
4
1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

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

1.10
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.

SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
1
Accounting policies (continued)
5
1.11
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 cost of stock or fixed assets.

 

The cost of any unused 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.

1.12
Retirement benefits

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

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Recharge and re-allocation of intercompany costs

SRS Acquiom Holdings UK Ltd carries out a reallocation and recharges an element of its costs to the other group entities in line with the group's transfer pricing policy. The allocation, recharge and transfer price rate of these intercompany costs involves significant judgement.

3
Turnover
2024
£
Turnover analysed by class of business
Intercompany charges
3,469,556
SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
6
4
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
6
5
Tangible fixed assets
Leasehold improvements
£
Cost
At 25 July 2023
-
0
Additions
101,436
At 31 December 2024
101,436
Depreciation and impairment
At 25 July 2023
-
0
Depreciation charged in the period
8,297
At 31 December 2024
8,297
Carrying amount
At 31 December 2024
93,139
6
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
103,659
SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
6
Fixed asset investments (continued)
7
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 25 July 2023
-
Additions
103,659
At 31 December 2024
103,659
Carrying amount
At 31 December 2024
103,659

Included in fixed asset investments are the 100% owned company's subsidiaries Acquiom Agency Services Ltd and Acquiom Financial UK ltd which are held at cost.

7
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
825,542
Other debtors
354,925
1,180,467

Included within Other debtors is £152,448 relating to a rent deposit which is due for repayment at the end of the lease term which is in 2027 at the earliest.

8
Creditors: amounts falling due within one year
2024
£
Trade creditors
141,038
Amounts owed to group undertakings
703,568
Taxation and social security
12,027
Other creditors
631,803
1,488,436

 

SRS Acquiom Holdings UK Ltd
Notes to the financial statements (continued)
For the period ended 31 December 2024
8
9
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Roger Weston
Statutory Auditors:
Date of audit report:
25 April 2025
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
£
537,940
12
Related party transactions
Transactions with related parties

The Company is a wholly owned subsidiary of SRS Acquiom Holdings LLC and has taken advantage of the exception conferred by FRS 102 paragraph 33.1A not to disclose transactions with SRS Acquiom Holdings LLC or other wholly owned subsidiaries within the group.

 

During the period the company entered into transactions with related parties through a mutual director. The company made purchases of £117,675 during the period and the balance due to the related party at the period end is £nil.

13
Parent company

The Company's parent company is SRS Acquiom Holdings LLC. SRS Acquiom Holdings LLC is registered in Delaware, USA and a copy of its financial statements can be obtained from its registered office at 950 17th Street, Suite 1400, Denver, Colorado 80202.

 

The company’s ultimate parent company is SRS Acquiom Holdings Inc.

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