ACCOUNTS - Final Accounts preparation

Company registration number: 07111093

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	SCIENCELOGIC LIMITED


SCIENCELOGIC LIMITED

COMPANY INFORMATION

Directors	R M Chart
	D Link


Company secretary	David Link


Registered number	07111093


Registered office	Richmond House
	Walkern Road
	Hertfordshire
	England
	SG1 3QP


Independent auditors	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Richmond House
	Walkern Road
	Stevenage
	Herts
	SG1 3QP


SCIENCELOGIC LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 - 6


SCIENCELOGIC LIMITED REGISTERED NUMBER:07111093

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		8,151,802		8,151,802
			8,151,802		8,151,802
Current assets
Debtors: amounts falling due within one year	5	369,899		384,470
Cash at bank and in hand		152,083		238,624
		521,982		623,094
Creditors: amounts falling due within one year	6	(6,121,349)		(6,528,348)
Net current liabilities			(5,599,367)		(5,905,254)
Total assets less current liabilities			2,552,435		2,246,548

Net assets			2,552,435		2,246,548

Capital and reserves
Called up share capital	1	1
Profit and loss account	2,552,434	2,246,547
	2,552,435	2,246,548

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 statement of income and retained earnings 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:

................................................

R M Chart

Director

Date: 30 September 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 1


SCIENCELOGIC LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	1	1,854,326	1,854,327

Profit for the year	-	392,221	392,221

At 1 January 2024	1	2,246,547	2,246,548
Comprehensive income for the year
Profit for the year	-	305,887	305,887
At 31 December 2024	1	2,552,434	2,552,435

The notes on pages 3 to 6 form part of these financial statements.

Page 2


SCIENCELOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Sciencelogic Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The companies principle place of business is Spaces Liverpool Street Station, New Broad Street House, 35 New Broad Street, London, EC2M 1NH.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2.2

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.

2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


SCIENCELOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

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.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

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.

2.7

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 in the countries where the Company operates and generates income.

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.

2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.9

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.

Page 4


SCIENCELOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 41 (2023 - 48).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	8,151,802
	At 31 December 2024	8,151,802

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	343,529	343,529
Other debtors	23,928	37,864
Deferred taxation	2,442	3,077
	369,899	384,470

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	671	-
Trade creditors	10,538	11,258
Amounts owed to group undertakings	5,476,316	5,634,927
Corporation tax	53,859	139,081
Other taxation and social security	157,321	228,659
Other creditors	422,644	514,423
	6,121,349	6,528,348

7.	Controlling party

The immediate parent and ultimate controlling entity is ScienceLogic Inc. The company's registered office is in the United States at 11955 Democracy Dr. Floor 13, Reston, VA 20190. The smallest and the largest group financial statements in which the company's results are included within, are available from this address.

Page 5


SCIENCELOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Auditors' information

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

The audit report was signed on 30 September 2025 by James Fox ACA FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 6