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FINANCIAL STATEMENTS FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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FIGMA UK LTD. |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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FOR |
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FIGMA UK LTD. |
FIGMA UK LTD. (REGISTERED NUMBER: 12523488) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FIGMA UK LTD. |
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COMPANY INFORMATION |
FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
71-75 Shelton Street |
Covent Garden |
London |
WC2H 9JQ |
FIGMA UK LTD. (REGISTERED NUMBER: 12523488) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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FIGMA UK LTD. (REGISTERED NUMBER: 12523488) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Figma Uk Ltd. is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Turnover |
Turnover represents income earned from the parent, Figma Inc., based on a cost plus agreement, excluding Value Added Tax. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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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. |
FIGMA UK LTD. (REGISTERED NUMBER: 12523488) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Tax |
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Social security and other taxes |
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Accrued expenses |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £100 | 100 |
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7. | RESERVES |
Retained |
earnings |
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Profit for the period |
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At 31 December 2020 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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FIGMA UK LTD. (REGISTERED NUMBER: 12523488) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 MARCH 2020 TO 31 DECEMBER 2020 |
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9. | POST BALANCE SHEET EVENTS |
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On 11 March 2020, the World Health Organization declared a global pandemic related to the novel Coronavirus (COVID-19), which continues to spread throughout the world. The pandemic is creating disruption in the economy, including supply chains, production, and sales across various industries. The impact on the company's operations and financial performance will depend on the duration and extent of the pandemic, which include the impact on the group's customers, vendors and employees. Therefore, the extent to which the COVID-19 pandemic may impact the Group and Company's financial positions or results of operations is uncertain at this time. |
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10. | SHARE-BASED PAYMENT TRANSACTIONS |
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Under the terms of their employment contracts the employees of the company are entitled to participate in the share based payment scheme of the parent company Figma Inc. During the year options have been granted to 12 employees of the company for 1,803,065 shares of common stock in Figma Inc., leaving 1,803,065 outstanding at the year end. |
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The parent company has not allocated any cost in respect of this scheme to the company; therefore, no costs have been recognised in these financial statements. |
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11. | ULTIMATE PARENT COMPANY |
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Figma UK Ltd. is a wholly owned subsidiary of Figma, inc., incorporated in USA with its principal place of business at 116 New Montgomery St, Suite 700 San Francisco, CA 94105, United States. |