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Company registration number: 06037342







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


ABBYY UK LIMITED






































img1161.png                        

 


ABBYY UK LIMITED
 


 
COMPANY INFORMATION


Director
Mr U C Persson 




Registered number
06037342



Registered office
70 Gracechurch Street
3rd Floor

London

EC3V 0HR




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


ABBYY UK LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 11


 


ABBYY UK LIMITED
REGISTERED NUMBER:06037342



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
3,399
6,329

Investments
 6 
11
11

  
3,411
6,341

Current assets
  

Stocks
  
-
497

Debtors: amounts falling due after more than one year
 7 
583,298
675,302

Debtors: amounts falling due within one year
 7 
6,940,296
7,266,565

Cash at bank and in hand
  
996,181
899,425

  
8,519,775
8,841,789

Creditors: amounts falling due within one year
 8 
(7,343,217)
(8,086,049)

Net current assets
  
 
 
1,176,558
 
 
755,740

Total assets less current liabilities
  
1,179,969
762,081

  

Net assets
  
1,179,969
762,081


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Other reserves
  
1,142,050
1,091,919

Profit and loss account
  
17,919
(349,838)

  
1,179,969
762,081


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 income statement 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: 


Mr U C Persson
Director

Date: 9 July 2025

The notes on pages 4 to 11 form part of these financial statements.
Page 1

 


ABBYY UK LIMITED
REGISTERED NUMBER:06037342


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 


ABBYY UK LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Other   reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
20,000
1,031,935
(612,870)
439,065



Profit for the year
-
-
263,032
263,032

Share options issued
-
59,984
-
59,984



At 1 January 2024
20,000
1,091,919
(349,838)
762,081



Profit for the year
-
-
367,757
367,757

Share options issued
-
50,131
-
50,131


At 31 December 2024
20,000
1,142,050
17,919
1,179,969


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Abbyy UK Limited is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office is disclosed on the company information page.

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

Turnover

The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of discounts, VAT and other sales and related taxes.
Turnover in respect of license fees is recognised when the license has been delivered.
Turnover in respect of software maintenance is recognised over the relevant period covered by maintenance agreement.

  
2.3

Intangible assets

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

Page 4

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income Statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

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.

Page 5

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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 reporting 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.

 
2.11

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.

 
2.12

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

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 reporting date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 21).
Page 7

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
56,585



At 31 December 2024

56,585



Amortisation


At 1 January 2024
56,584



At 31 December 2024

56,584



Net book value



At 31 December 2024
1



At 31 December 2023
1



Page 8

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
50,979


Additions
2,557


Disposals
(20,437)



At 31 December 2024

33,099



Depreciation


At 1 January 2024
44,650


Charge for the year on owned assets
5,487


Disposals
(20,437)



At 31 December 2024

29,700



Net book value



At 31 December 2024
3,399



At 31 December 2023
6,329


6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 January 2024
11



At 31 December 2024
11




Page 9

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
-
17,729

Prepayments and accrued income
583,298
657,573

583,298
675,302


2024
2023
£
£

Due within one year

Trade debtors
1,391,320
1,816,288

Amounts owed by group undertakings
4,220,015
4,137,449

Other debtors
24,099
7,886

Corporation tax repayable
31,150
-

Prepayments and accrued income
1,056,068
941,381

Deferred taxation
217,644
363,561

6,940,296
7,266,565



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
23

Trade creditors
63,177
11,838

Amounts owed to group undertakings
4,780,016
4,661,594

Corporation tax
-
149,830

Other taxation and social security
427,514
422,487

Other creditors
43,136
27,335

Accruals and deferred income
2,029,374
2,812,942

7,343,217
8,086,049


Page 10

 


ABBYY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
70,917
111,055

Later than 1 year and not later than 5 years
-
74,037

70,917
185,092


10.


Parent Company

ABBYY Inc., a company incorporated in the United States of America, is the parent company of the smallest group for which consolidated financial statements are drawn up of which the company is a member.
 
ABBYY Inc.'s registered office is 600 Congress Avenue, Suite 15015, Austin, TX 78701, USA.


11.


Auditor's information

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

The audit report was signed on 9 July 2025 by Hezelina Hashim FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 11