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Registration number: 11317184

Reltio UK Limited

Filleted Financial Statements

for the Year Ended 31 January 2024

 

Reltio UK Limited

Contents

Independent Auditor's Report

1 to 4

Statement of Financial Position

5

Notes to the Financial Statements

6 to 11

 

Reltio UK Limited

Independent Auditor's Report to the Members of Reltio UK Limited

Opinion

We have audited the financial statements of Reltio UK Limited (the 'company') for the year ended 31 January 2024, which comprise the Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Reltio UK Limited

Independent Auditor's Report to the Members of Reltio UK Limited (continued)

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the .

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of the director

As explained more fully in the [set out on page ], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

 

Reltio UK Limited

Independent Auditor's Report to the Members of Reltio UK Limited (continued)

The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements including health and safety laws, food quality regulation, employment laws and regulations and certain aspects of companies legislation.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

Evaluate the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

 

Reltio UK Limited

Independent Auditor's Report to the Members of Reltio UK Limited (continued)

......................................
Peter Lomax (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP

80 Oxford Street
Burnham-On-Sea
Somerset
TA8 1EF

24 July 2025

 

Reltio UK Limited

(Registration number: 11317184)
Statement of Financial Position as at 31 January 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

4,273

8,739

Current assets

 

Debtors

5

795,042

154,894

Cash at bank and in hand

 

204,502

537,635

 

999,544

692,529

Creditors: Amounts falling due within one year

6

(277,556)

(99,756)

Net current assets

 

721,988

592,773

Net assets

 

726,261

601,512

Capital and reserves

 

Called up share capital

7

1,000

1,000

Capital contribution

106,089

74,753

Profit and loss account

619,172

525,759

Shareholders' funds

 

726,261

601,512

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 23 July 2025
 


Mr J A Redfern
Director

Approved and authorised by the director on 23 July 2025
 

.........................................
Mr J A Redfern
Director

   
     
 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 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:
2 Old Bath Road
Newbury
RG14 1QL
England and Wales

Principal activity

The principal activity of the company is business support service activities.

2

Accounting policies

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 entity.

Going concern

Because of the nature of its operations, Reltio UK relies on the support of its ultimate parent, Reltio Inc, for its ability to continue as a going concern. Whilst the directors are confident that the company will continue to have the support of its parent, they acknowledge that there can be no certainty that it will continue.

Revenue recognition

Turnover represents amounts receivable of services. The services are rendered to Reltio, Inc., the company's sole shareholder, under cost plus agreement.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixture and fittings

- 33% straight- line

Computer equipment

- 33% straight-line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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.

 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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.

Share based payments

Stock based compensation, also known as equity or share based compensation, is a way for companies to reward employees by offering them options to the shares of the company's stock, instead of cash. This form of compensation is often used to align the interests of employees with those of the company's shareholders, as the employees benefit directly from the company's success.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 9).

 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 February 2023

665

14,792

15,457

At 31 January 2024

665

14,792

15,457

Depreciation

At 1 February 2023

393

6,325

6,718

Charge for the year

221

4,245

4,466

At 31 January 2024

614

10,570

11,184

Carrying amount

At 31 January 2024

51

4,222

4,273

At 31 January 2023

272

8,467

8,739

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

9

702,201

145,677

Other debtors

 

37,828

7,220

Prepayments

 

55,013

1,997

 

795,042

154,894

 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

38,172

5,668

Taxation and social security

58,457

17,534

Accruals and deferred income

141,503

23,721

Other creditors

39,424

52,833

277,556

99,756

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Reserves

Capital contribution

The capital contribution reserve represents credits to equity arising from equity settled share based payments arrangements.

Profit and loss account

This reserve records retained earnings and accumulated losses.

9

Related party transactions

The company has taken advantage of the exemption contained in FRS section 33 "Related Party Disclosures" from disclosing transactions with entities which are wholly owned part of the group.

10

Parent undertaking

The smallest group for which consolidated financial statements are drawn up is headed by Reltio, Inc., whose registered office is 100 Marine Parkway, Suite 275, Redwood Shores, CA 94065. Copies of these group financial statements are not available to the public.

 

Reltio UK Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

11

Restatement of prior period

Following a review of the Employee Incentive Plan, management noted that the options granted should have been accounted for as an equity settled scheme of the parent company. As a result, the reserve has been reclassified as a capital contribution reserve, rather than a share-based payment reserve. In addition, the expenses relate to share-based compensation had been omitted from the prior period financial statements. As a result, payments totalling £41,378 have been transferred from Profit and Loss to the Capital Contribution Reserve. The above changes have no effect on tax charge for the current or previous years.