ACCOUNTS - Final Accounts

Registered number: 09016595

SQUIRRO UNITED KINGDOM LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

SQUIRRO UNITED KINGDOM LTD

COMPANY INFORMATION

Director	Dr D Selz


Registered number	09016595


Registered office	86-90 Paul Street
	London
	EC2A 4NE


Accountants	Ecovis Wingrave Yeats UK Limited
	Waverley House
	7-12 Noel Street
	London
	W1F 8GQ

SQUIRRO UNITED KINGDOM LTD

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 5

SQUIRRO UNITED KINGDOM LTD

REGISTERED NUMBER: 09016595

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	44,858		44,723
Bank & cash balances		10,159		14,211
		55,017		58,934
Creditors: amounts falling due within one year	6	(1,871,428)		(1,867,165)
Net current liabilities			(1,816,411)		(1,808,231)
Total assets less current liabilities			(1,816,411)		(1,808,231)

Net liabilities			(1,816,411)		(1,808,231)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(1,816,511)	(1,808,331)
		(1,816,411)	(1,808,231)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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 on 30 September 2025.

Dr D Selz

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

SQUIRRO UNITED KINGDOM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Squirro United Kingdom Ltd is a private Company, limited by shares, domiciled in England and Wales, registration number 09016595. The registered office is 86-90 Paul Street, London, United Kingdom, EC2A 4NE.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future. The Company meets its day to day working capital requirements through the continuing support of its parent. The Company's intermediate parent, Squirro AG, has provided a letter of support indicating its continued ongoing support for the Company.

2.3

Revenue

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.

2.4

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.

Page 2

SQUIRRO UNITED KINGDOM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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.

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 Statement of comprehensive income within administrative expenses. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

SQUIRRO UNITED KINGDOM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Taxation

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.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Management have not applied any significant judgments or estimates in the preparation of these financial statements.

4.	Employees
		2024	2023
		£	£

Wages and salaries	290,937	79,347
Social security costs	24,950	14,076
Cost of defined contribution scheme	3,042	2,190
	318,929	95,613

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Debtors

					2024	2023
					£	£


Trade debtors	29,958	44,723
Other debtors	12,030	-
Prepayments	2,870	-
	44,858	44,723

Page 4

SQUIRRO UNITED KINGDOM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Trade creditors	14,515	9,443
Amounts owed to group undertakings	1,505,001	1,734,551
Other taxation and social security	-	19,363
Other creditors	10,935	5,795
Accruals and deferred income	340,977	98,013
	1,871,428	1,867,165

The amounts owed to group undertakings corresponds to a loan made by the immediate parent Company, Squirro AG. This is repayable on demand and bears interest of 1.5% per annum. Intercompany interest for the current and prior years is unpaid, accrued and included within amounts owed to group undertakings.

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,042 (2023 - £2,190). Contributions payable to the fund at the balance sheet date totalled £1,174 (2023 - £294).

9.	Related party transactions
	Squirro United Kingdom Ltd has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other companies that are wholly owned within the group.

10.	Ultimate parent undertaking and controlling party

The Company's immediate parent undertaking is Squirro AG, a Company incorporated in Switzerland. Squirro AG prepares consolidated accounts and these are available from Muehlebachstrasse 70, 8008 Zürich, Switzerland.

Page 5