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Registered number: 12779869
TREASURE DATA (UK) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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TREASURE DATA (UK) LIMITED
REGISTERED NUMBER: 12779869
BALANCE SHEET
AS AT 31 MARCH 2025
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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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TOTAL ASSETS LESS CURRENT LIABILITIES
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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 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 by:
The notes on pages 3 to 11 form part of these financial statements.
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TREASURE DATA (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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Capital contribution reserve
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Profit for the year (as restated)
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Debit relating to group share-based payments (as restated)
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AT 1 APRIL 2024 (AS RESTATED)
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The notes on pages 3 to 11 form part of these financial statements.
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Treasure Data (UK) Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. Its registered office is Wellington House, East Road, Cambridge, CB1 1BH.
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:
The directors have prepared the financial statements on a going concern basis which assumes that the Company will be able to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the date of approval of the financial statements.
The immediate parent undertaking, Treasure Data Inc., has provided written confirmation that it will provide sufficient financial resources to the Company so that it can meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of the financial statements.
Given the ongoing group support, the directors believe that the Company is adequately placed to manage its business risks successfully and that the Company will have adequate financial resources available to meet is liabilities as they fall due.
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FOREIGN CURRENCY TRANSLATION
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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.
Turnover from the rendering of services to Group undertakings is recognised as and when the service is delivered in line with the transfer pricing agreement. Turnover is measured at the fair value of the consideration received, excluding VAT and other sales taxes.
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Research and development expenditure is written off as incurred.
Interest income is recognised in profit or loss using the effective interest method.
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.
The Company operates a defined contribution pension plan for its employees. A defined contribution pension 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 other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
The Company participates in a group share-based payment arrangement whereby certain employees receive equity instruments (restricted stock units) of the parent company, Treasure Data Inc., as part of their remuneration.
In accordance with FRS 102 Section 26, the fair value of the equity instruments granted is measured at the grant date and is recognised as an expense over the vesting period, which is the period during which the employees become unconditionally entitled to the awards. The fair value is determined by the parent company using an appropriate valuation model.
As the Company has no obligation to settle the awards, the corresponding credit is recognised in equity as a capital contribution from the parent company.
The charge to the profit and loss account reflects the best estimate of the number of awards expected to vest. Vesting conditions are assessed at each reporting date. Where awards are subject to non-market performance conditions, such as the occurrence of an exit event, the Company estimates the number of equity instruments expected to vest based on the likelihood of those conditions being met. This includes an assessment of prevailing market conditions and other relevant factors that may affect the probability of an exit event occurring.
In accordance with the requirements of FRS 102, if new information becomes available that indicates the number of equity instruments expected to vest differs from previous estimates, the Company revises its estimate and adjusts the cumulative expense recognised accordingly. This adjustment is recognised in the profit or loss account, and the corresponding entry is made to the Capital Contribution Reserve.
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
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Furniture, fittings and equipment
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment.
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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FINANCIAL INSTRUMENTS (CONTINUED)
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Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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The average monthly number of employees, including directors, during the year was 36 (2024 - 48).
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Furniture, fittings and equipment
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Charge for the year on owned assets
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Amounts owed by group undertakings
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Amounts owed by group undertakings are non-interest bearing, unsecured and repayable on demand.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Other taxation and social security
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Other creditors include contributions of £30,097 (2024 - £47,301) payable to the Company's defined contribution pension scheme at the balance sheet date.
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ALLOTTED, CALLED UP AND FULLY PAID
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100 (2024 - 100) Ordinary shares of £0.01 each
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Capital contribution reserve
The Company receives a benefit from its parent company in the form of equity-settled share-based payment awards granted to its employees. The fair value of the awards is recognised as an expense in the profit and loss account over the vesting period, with a corresponding credit to equity. The credit is recorded in a capital contribution reserve, representing a contribution from the parent company. This reserve is not distributable.
Profit and loss account
The profit and loss account represents the Company’s accumulated profits and losses, net of dividends declared and other appropriations.
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The Company participates in a group share-based payment arrangement whereby certain employees receive equity instruments (Restricted Stock Units) of the parent company, Treasure Data Inc., as part of their remuneration. These were issued between 2021 and 2022.
The Company granted Restricted Stock Units (RSUs) that vest upon the satisfaction of both service-based and performance-based conditions. The service-based condition is generally satisfied over two or four years. The performance-based conditions are satisfied upon achieving specific performance targets, such as the occurrence of a qualifying event, defined as the earlier of (i) the closing of certain specific liquidation or change in control transactions, or (ii) a public listing.
A change in control event and effective registration event are not deemed probable until consummated; accordingly, no expense is recorded relating to these RSUs until the performance condition becomes probable of occurring.
During the year ended 31 March 2025, no expense relating to these RSUs was recognised in the financial statements (2024 - credit of £613,874).
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TREASURE DATA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
During the prior year the Directors’ re-assessed the likelihood of an exit vesting occurring and consequently their estimate of the number of equity instruments expected to vest. The Directors’ determined that based on their own research together with the prevailing market conditions that, in their opinion, there was not considered to be a realistic probability of an exit event occurring for the foreseeable future. Accordingly, in the previous accounting period no share-based payment charge was recognised in the Statement of Comprehensive Income.
In addition to the above the Directors’ should also have considered the impact of this change in estimate on the capital contribution reserve. In accordance with FRS 102 para 26.9(a) where new information indicates that the number of equity instruments expected to vest differs from previous estimates then an adjustment to the equity reserve should be made to reflect the impact of this change in estimate. Consequently, the Directors should have reversed the cumulative capital contribution reserve and recognised a corresponding amount in the Company’s Statement of Comprehensive Income.
A prior year adjustment has been made to correct this material error. The adjustment has the following impact:
∙The capital contribution reserve as at 31 March 2024 has decreased by £613,874; and
∙The profit for the year ended 31 March 2024 has been increased by £613,874, as the reversal has been recognised as a credit within Administrative Expenses in the Statement of Comprehensive Income.
The parent undertaking of the smallest group to consolidate these financial statements is Treasure Data Inc., a company incorporated in California, USA. Its principal place of business is 800 W. El Camino Real, Suite 180, Mountain View, California 94040, USA.
The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.
The audit report was signed on 10 December 2025 by Thomas Hamilton (Senior Statutory Auditor) on behalf of PEM Audit Limited.
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