REGISTERED NUMBER: 14470779 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RETOOL UK LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Director:

L S Franklin

Registered office:

Suite 2 First Floor, Templeback

10 Temple Back

Bristol

BS1 6FL

Registered number:

14470779 (England and Wales)

Auditors:

Hayvenhursts Limited

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

FIXED ASSETS

Tangible assets

4

53,987

5,001

CURRENT ASSETS

Debtors: amounts falling due within one year

5

254,108

440,324

Debtors: amounts falling due after more than one year

5

-

7,691

Cash at bank and in hand

647,933

20,544

902,041

468,559

CREDITORS

Amounts falling due within one year

6

(628,399

)

(385,467

)

NET CURRENT ASSETS

273,642

83,092

TOTAL ASSETS LESS CURRENT LIABILITIES

327,629

88,093

PROVISIONS FOR LIABILITIES

(8,204

)

-

NET ASSETS

319,425

88,093

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

107,758

19,663

Retained earnings

211,567

68,330

319,425

88,093

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 director and authorised for issue on 25 October 2025 and were signed by:

L S Franklin - Director

1.	STATUTORY INFORMATION

Retool UK 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 Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Turnover

Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life.

Plant and Machinery - 33% on cost

Computer Equipment - 50% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee remaining in the entity's employment).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Shares for which an option is granted are issued by the ultimate parent company and no consideration is given by the company in respect of those options. A corresponding credit is recognised in retained earnings as a component of equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 January 2024

5,001

-

5,001

Transferred from group undertakings

-

8,485

8,485

Additions

31,732

25,891

57,623

At 31 December 2024

36,733

34,376

71,109

Depreciation

At 1 January 2024

-

-

-

Transferred from group undertakings

-

-

-

Charge for the year

8,424

8,698

17,122

At 31 December 2024

8,424

8,698

17,122

Net book value

At 31 December 2024

28,309

25,678

53,987

At 31 December 2023

5,001

-

5,001

5.

DEBTORS

31/12/24

31/12/23

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

66,886

388,842

Other debtors

187,222

51,482

254,108

440,324

Amounts falling due after more than one year:

Other debtors

-

7,691

Aggregate amounts

254,108

448,015

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

14,537

-

Taxation and social security

263,643

96,994

Other creditors

350,219

288,473

628,399

385,467

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

388,789

359,505

Between one and five years

-

97,345

388,789

456,850

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

The Report of the auditors was unqualified.

Gareth Williams (Senior Statutory Auditor)

for and on behalf of Hayvenhursts Limited

9.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking of the company is Retool, Inc. a company incorporated in United States of America. The registered office is based at 1550 Bryant Street, Suite 200, San Francisco, CA 94103, United States of America.