Sumologic Limited - Accounts to registrar (filleted)

DIRECTORS:

S E Kitson

REGISTERED OFFICE:

Fourth Floor St James House

St James' Square

Cheltenham

GL50 3PR

REGISTERED NUMBER:

08930098 (England and Wales)

AUDITORS:

ML Audit LLP

Statutory Auditors

Freshford House

Redcliffe Way

Bristol

BS1 6NL

CURRENT ASSETS

Debtors

1,844,388

1,597,378

Cash at bank

508,038

555,295

2,352,426

2,152,673

CREDITORS

Amounts falling due within one year

414,689

450,780

NET CURRENT ASSETS

1,937,737

1,701,893

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,937,737

1,701,893

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,937,637

1,701,793

1,937,737

1,701,893

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

S E Kitson - Director

1.	STATUTORY INFORMATION

Sumologic 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

All amounts have been rounded to the nearest £1 pound sterling, unless otherwise indicated.

The following principal accounting policies have been applied:

Significant judgements and estimates

In the application of the company’s accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Commissions earned by employees but not yet released are estimated at year-end based on sales that have been finalised during the year and legally entitle employees to a payment in the subsequent period.

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 company is contracted by its parent company Sumo Logic, Inc. to deliver human resources and marketing services under an intercompany agreement. The company is remunerated by its parent for these services.

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.

Foreign currencies

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.

Pension costs and other post-retirement benefits

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.

Share based payments

On the completion of the acquisition of Sumo Logic by Francisco Partners in 2023, all stock options were cancelled and replaced with cash awards at USD 12.05 per share held. The awards are recognised as an expense in profit or loss over the course of the vesting period to which the original stock options were granted. Amounts not paid are shown in accruals as a liability in the Statement of financial position.

Going concern

The company has continued to trade since the financial year end but is reliant on continued support from its parent company, Sumo Logic, Inc., for funding that allows it to continue day-to-day operations. There is a significant uncertainty over whether Sumo Logic, Inc. will continue as a going concern as the company has a history of incurring net losses, operating cashflow deficits and multiple financing obligations falling due. Whilst the parent company has plans to mitigate that risk through internal restructuring and cost control as necessary to fulfil its operating and capital requirements, which would in turn allow them to continue providing funding to Sumologic Limited, management cannot conclude that such plans will be effectively implemented within one year after the date that the financial statements are issued.

Due to the uncertainty surrounding the above matters, there is a material uncertainty that may cast significant doubt over the company's ability to continue as a going concern. At the time of approving the financial statements, given the reassurances received from the parent company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing of this report. Therefore, directors continue to adopt the going concern basis in preparing annual financial statements.

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Interest income

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

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.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 28 ) .

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

Amounts owed by group undertakings

1,727,887

1,548,583

Other debtors

699

VAT

50,239

13,804

Deferred tax asset

3,520

2,678

Prepayments and accrued income

62,043

31,614

1,844,388

1,597,378

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

Trade creditors

2,598

7,788

Corporation tax

45,168

61,904

Social security and other taxes

39,497

21,273

Accruals and deferred income

327,426

359,815

414,689

450,780

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs S R Jenkins (Senior Statutory Auditor)

for and on behalf of ML Audit LLP

7.	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 £79,145 (2024: £78,518). Contributions totalling £14,080 (2024: £10,710) were payable to the fund at the reporting date.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 33, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

There were no other related party transactions during the period (2024: none).

9.	CONTROLLING PARTY

The company is a wholly owned subsidiary of Sumo Logic, Inc., a company incorporated in the United States of America.

The smallest and largest group in which the results of the company are consolidated is that headed by Sumo Logic, Inc., with its registered office at 855 Main St STE 100, Redwood City, CA 94063, United States of America.

ULTIMATE CONTROLLING PARTY

Francisco Partners L.P. (incorporated in the United States of America) is regarded by the directors as being the company's ultimate parent company.

10.	AUDITOR'S INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2025 was unqualified.

In their report, the auditors noted a material uncertainty to going concern on the following matter without qualifying their report:

The auditors draw attention to the going concern accounting policy in Note 2 of the financial statements, which explains that the company is reliant on the ongoing support of its parent company to allow it to meet its liabilities as they fall due for the next 12 months. However, its parent company, Sumo Logic Inc., is currently undergoing a restructuring and cost control exercise which is intended to provide headroom and liquidity to continue providing funding to Sumologic Limited. However, the directors cannot conclude that such plans will be effectively implemented and these conditions, along with other matters noted in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Their opinion was not modified in respect of this matter.