ACCOUNTS - Final Accounts

EXTERRO UK LIMITED - Company Information

Registered number: 11853260 (England and Wales)

EXTERRO UK LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019


EXTERRO UK LIMITED

COMPANY INFORMATION

Directors	B V Balachandran
	M R Spencer


Registered number	11853260


Registered office	New Penderel House
	4th Floor
	283-288 High Holborn
	London
	United Kingdom
	WC1V 7HP


Independent auditors	ZEDRA Corporate Reporting Services (UK) Limited


EXTERRO UK LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 4


EXTERRO UK LIMITED REGISTERED NUMBER:11853260

BALANCE SHEET

AS AT 31 DECEMBER 2019

		2019
Note		£


Current assets
Debtors: amounts falling due within one year	4	46,192
Cash at bank and in hand		20,791
		66,983
Creditors: amounts falling due within one year	5	(43,450)
Net current assets			23,533
Total assets less current liabilities			23,533

Net assets			23,533

Capital and reserves
Called up share capital			100
Profit and loss account			23,433
			23,533

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 by:

M R Spencer

Director

Date: 19 March 2021

The notes on pages 2 to 4 form part of these financial statements.

Page 1


EXTERRO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019

1.Accounting policies

1.1

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 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.

1.2

Going concern

Exterro UK Limited has received written confirmation from its parent company, Exterro, Inc., that it will continue to provide financial support to the Company for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to prepare the financial statements on a going concern basis.
The following principal accounting policies have been applied:

1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover is recognised on a cost-plus 10% basis, in line with the intercompany service arrangement with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the intercompany service arrangement; and

∙the costs incurred under the intercompany service arrangement can be measured reliably.

1.4

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 2


EXTERRO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019

1.Accounting policies (continued)

1.5

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.

1.6

Debtors

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

1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

1.8

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. No interest is charged on the loans, which are repayable on demand.

2.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2019 was unqualified.

The audit report was signed on 19 March 2021 by Dominic King ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.

Employees

The average monthly number of employees, including directors, during the period was 2.

Debtors

					2019
					£


	VAT	8,173
	Prepayments and accrued income	38,019
		46,192

Page 3


EXTERRO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019

5.	Creditors: Amounts falling due within one year
		2019
		£

	Trade creditors	7,020
	Amounts owed to parent company	18,079
	Corporation tax	5,932
	Accruals and deferred income	12,419
		43,450

6.	Controlling party

Exterro, Inc. is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is Suite 400, 4145 SW Watson Avenue, Beaverton, OR 97005, USA.

7.	Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.

Page 4