Company registration number 05175575 (England and Wales)
VERCARA (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
VERCARA (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
VERCARA (UK) LIMITED
BALANCE SHEET
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
2,300,188
3,105,076
Cash at bank and in hand
48,048
34,532
2,348,236
3,139,608
Creditors: amounts falling due within one year
5
(229,778)
(772,126)
Net current assets
2,118,458
2,367,482
Creditors: amounts falling due after more than one year
6
-
(446,822)
Net assets
2,118,458
1,920,660
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
2,118,358
1,920,560
Total equity
2,118,458
1,920,660

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
M Johnson
Director
Company registration number 05175575 (England and Wales)
VERCARA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
Page 2
1
Accounting policies
Company information

Vercara (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2 First Floor, 10 Temple Back, Bristol, England, BS1 6FL. The principal place of business is 21 Palmer Street, London, United Kingdom, SW1H 0AD.

1.1
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 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. The principal accounting policies adopted are set out below.

1.2
Going concern

As noted in the Directors' report, the Company has taken the decision to wind down the entity in due course and accordingly, the financial statements have been prepared on the basis other than going concern.

 

The Directors have received a letter of support from its parent company, DigiCert, Inc. covering the shorter of 12 months from the approval of these financial statements or the company being wound up. The Directors have reviewed the financial standing of the parent entity and are confident it is able to continue providing such support. Accordingly the directors believe that the company will be able to continue to meet it's liabilities as they fall due for the period until the company is wound down. In view of the parent support and the fact that the decision to wind down was taken after the year end no adjustments have been made in these financial statements for the intended winding down.

1.3
Turnover

Turnover represents the fair value of services provided during the period. Fair value reflects the amount expected to be recoverable from the parent company and is based on services provided and expenses incurred, but excludes VAT.

1.4
Cash at bank and in hand

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.

1.5
Debtors and creditors

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans and other debtors 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.

Creditors

Short term trade creditors and other current creditors payable on demand are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

VERCARA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 3
1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt within equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
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.

1.9
Retirement benefits

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

 

1.10
Share-based payments

For cash-settled share-based payments, a liability is recognised for the goods and services acquired, measured initially at the fair value of the liability. At the balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognised in profit or loss for the year.

VERCARA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2024
Page 4
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 15 (2023 - 16).

3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
(59,097)
114,520
Deferred tax
Origination and reversal of timing differences
55,244
(143,299)
Total tax credit
(3,853)
(28,779)
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
67,704
24,773
Amounts owed by group undertakings
1,915,377
2,688,042
Other debtors
159,533
179,443
2,142,614
2,892,258
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
157,574
212,818
Total debtors
2,300,188
3,105,076
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
23,659
7,802
Taxation and social security
71,390
471,096
Accruals
134,729
293,228
229,778
772,126
VERCARA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2024
Page 5
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Accruals
-
0
446,822
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
84,237
102,728
Unutilised losses
74,644
111,706
Provisions
(1,307)
(1,616)
157,574
212,818
2024
Movements in the year:
£
Asset at 1 January 2024
(212,818)
Charge to profit or loss
55,244
Asset at 31 December 2024
(157,574)
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary of 1p each
100
100
9
Related party transactions

The company has taken advantage of the exemption from disclosing transactions with members within a wholly owned group.

 

No directors remuneration was payable by the company to the directors during the year for their services to the company. The directors, who are also a directors of other group companies, are remunerated elsewhere in the group.

VERCARA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2024
Page 6
10
Parent company

The immediate parent undertaking is DigiCert, Inc. (2023: Vercara, LLC) a company incorporated in Delaware, USA.

The ultimate parent undertaking and controlling party is DigiCert, Inc. (2023: Aerial Blocker Corporation), a company incorporated in Delaware, USA.

11
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 is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Emphasis of matter

We draw attention to Note 1.2 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1.2. Our opinion is not modified in this respect of this matter.

Senior Statutory Auditor:
Andrew Grieve
Statutory Auditor:
Moore Kingston Smith LLP
Date of audit report:
1 August 2025
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