NERDWALLET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Nerdwallet UK Limited is a company limited by shares and is incorporated and domiciled in England. It's registered office is 3rd Floor 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
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 £.
2.Accounting policies
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Basis of preparation of financial statements
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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:
NerdWallet UK Limited is the intermediary parent company for NerdWallet Ltd. NerdWallet Ltd is the UK trading entity for NerdWallet Inc. NerdWallet UK Limited was setup as a UK holding company to purchase the shares in NerdWallet Ltd (formerly Notice Media Ltd) in 2020. NerdWallet UK Limited holds the value of the investment in NerdWallet Ltd. The going concern assertion of NerdWallet UK Limited is therefore closely linked with the performance of NerdWallet Ltd and continued support from NerdWallet Inc. (ultimate parent company).
Due to the continued losses the company carried out a restructure during the year to reduce costs but also continued to invest in building it’s SEO business, aligning with the global NerdWallet playbook. At 31 December 2024 the company had a loss of £1,195,523 and had net liabilities of £3,709,314 which includes subordinated loans from the parent company of £4,400,000. The Company is dependent on continued support from its parent company NerdWallet inc.
As with any company placing reliance on the potential requirement for group financial support, there is no legal requirement that this support will be ongoing, creating a material uncertainty related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.
At the date of approving these financial statements however, the Directors are comfortable that if support was needed then it would be forthcoming on the basis of a reasoned application as required and the parent company has provided a letter to support this. On this basis, having considered a period of twelve months and beyond after the approval of the financial statements, the Directors believe that the accounts should be prepared on a going concern basis.
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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