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Registered number: 07813677
CARE.COM EUROPE LTD.
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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CARE.COM EUROPE LTD.
REGISTERED NUMBER: 07813677
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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 profit and loss account 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:
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M Arbov
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The notes on pages 2 to 6 form part of these financial statements.
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CARE.COM EUROPE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Care.Com Europe Ltd. (the Company) is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The registered office is Suite 4, 7th Floor, 50 Broadway, London, SW1H 0DB.
The principal activity of the Company during the year was to provide an online service helping families and individuals who seek services to identify and connect with care service providers. The Company assists families and/or individuals in search of childcare, special needs care, tutoring and lessons, senior care, pet care, housekeeping, and related services. The service helps families to identify and select the best care available based on detailed profiles.
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:
As at 31 December 2024 the Company generated a profit after tax of £85,423 and had net current liabilities of £429,137 which include an amount owed to group undertakings of £1,613,590.
The directors expect the Company to be profitable in the future and generate a build up in reserves that will result in a a future net asset position on the balance sheet. The parent company Care.Com, Inc. has confirmed that the Company has its continuing full support and will provide any necessary funds to ensure it is able to meet its liabilities as they fall due.
Having due regard to these matters and after making appropriate enquiries, the directors have a reasonable expectation that the Company and its group have adequate resources to continue in operation existence for the foreseeable future. Therefore, the Board continues to adopt the going concern basis in preparing these financial statements.
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CARE.COM EUROPE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP, rounded to the nearest whole pound.
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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, refunds, value added tax and other sales taxes.
The Company generates revenue primarily from subscription fees charged to families and caregivers. Subscription income is deferred and recognised in the profit and loss account on a straight-line basis over the subscription period, which ranges from one month to one year. Payments are typically received in advance and are due immediately.
In accordance with the license agreement with its parent company, Care.com, Inc., the Company’s operating margin is fixed at 5% (2023: 5%). Where necessary, adjustments are made to ensure that the margin is maintained and this recognised as either other income or expense.
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CARE.COM EUROPE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Current and deferred taxation
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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 balance sheet 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 balance sheet 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 balance sheet date.
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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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors 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.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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CARE.COM EUROPE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free, and are repayable on demand.
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The comparatives in these financial statements have been restated to show refunds amounting to £20,962 as a reduction in revenue, rather than administrative expenses, and intercompany income as other income, rather then a reduction in administrative expenses, in order to better reflect the nature of these items. The net impact is to reduce revenue by £20,962, increase other operating income by £165,811 and increase administrative expenses by £144,849. There is no impact on the profit or reserves as previously reported.
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CARE.COM EUROPE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The immediate parent company is Care.Com, Inc., a company incorporated in the United States of America, and the ultimate parent company is InterActiveCorp (IAC Inc.).
The largest and smallest group of undertakings for which group accounts have been prepared is that headed by InterActive Corp (IAC Inc.). The registered office address for InterActiveCorp (IAC Inc.) is 555 West 18th Street New York, NY 10011.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 30 September 2025 by Karen Cairns (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.
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