Neustar Technologies Limited
Financial Statements
For Filing with Registrar
For the year ended 31 December 2020
Company Registration No. 06633959 (England and Wales)
Neustar Technologies Limited
Company Information
Director
K Monroe
Secretary
K A Hughes
Company number
06633959
Registered office
21 Palmer Street
London
SW1H 0AD
Auditor
Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Business address
21 Palmer Street
London
SW1H 0AD
Neustar Technologies Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Neustar Technologies Limited
Balance Sheet
As at 31 December 2020
Page 1
2020
2019
Notes
$
$
$
$
Current assets
Cash at bank and in hand
330,857
331,915
Creditors: amounts falling due within one year
3
(131,815)
(93,641)
Net current assets
199,042
238,274
Capital and reserves
Called up share capital
4
2,005
2,005
Share premium account
164,870,033
164,870,033
Capital redemption reserve
39,405,405
39,405,405
Own shares
1,559,732
1,559,732
Profit and loss reserves
(205,638,133)
(205,598,901)
Total equity
199,042
238,274
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 27 September 2021
K Monroe
Director
Company Registration No. 06633959
NEUSTAR TECHNOLOGIES LIMITED
Neustar Technologies Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2020
Page 2
1
Accounting policies
Company information
Neustar Technologies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
21 Palmer Street, London, SW1H 0AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
USD
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest $.
The exchange rate with UK£ at the period end was USD$ 1.36515 : UK£1 (2019: USD$ 1.3116 : UK£1)
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The
holding company's
ongoing principal activity continues to be the provision of services to its parent entity,
Neustar Inc
. The
company's
principal risks are therefore closely linked to those of the parent entity and it is consequently exposed to the parent entity’s willingness and capacity to provide financial support.
Neustar Inc
has operated successfully for many years and has demonstrated its commitment to the long-term success of the group and view it as a critical component of its overall business strategy. The Directors have reviewed the financial standing of the parent entity and are confident it is able to continue supporting the business.
Due to the nature of the company’s activities there has been no significant impact on the company from the departure of the UK from the European Union (“Brexit”).
The directors continue to monitor the risk posed by the coronavirus COVID 19. Contingency planning put in place to help protect staff and to manage the ability to continue business under a range of circumstances has been successful in mitigating the effects of COVID 19 and consequently the directors are satisfied that any ongoing adverse impacts can continue to be managed and will not affect the longer term prosperity of the business and that an adequate financial buffer remains in place to address any potential continuing financial shock.
1.3
Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
NEUSTAR TECHNOLOGIES LIMITED
Neustar Technologies Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2020
1
Accounting policies
(Continued)
Page 3
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Debtors and creditors
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans and other debtors receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors and other current creditors payable on demand are measured at the
transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Foreign exchange
Transactions in currencies other than
USD
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the
profit or loss
for the period.
NEUSTAR TECHNOLOGIES LIMITED
Neustar Technologies Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2020
Page 4
2
Subsidiaries
Details of the company's subsidiaries at 31 December 2020 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Neustar (UK) Limited
21 Palmer Street, London, SW1H 0AD, England
Provision of services
Ordinary
100.00
0
Neustar GmbH
Hermannstr. 13, 20095 Hamburg, Germany
Provision of services
Ordinary
100.00
0
3
Creditors: amounts falling due within one year
2020
2019
$
$
Trade creditors
1,100
Amounts due to group undertakings
106,236
66,416
Other creditors
24,479
27,225
131,815
93,641
4
Called up share capital
2020
2019
$
$
Ordinary share capital
Issued and fully paid
1,003 Ordinary of £1 each
2,005
2,005
2,005
2,005
5
Related party transactions
The company has taken advantage of the exemption from disclosing transactions with members within a wholly owned group.
NEUSTAR TECHNOLOGIES LIMITED
Neustar Technologies Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2020
Page 5
6
Parent company
The immediate parent undertaking is Neustar NGM Services LLC (2019: Neustar NGM Services LLC) a company incorporated in the United States of America.
The ultimate parent undertaking and controlling party is Aerial Ultimate Holdings Corporation (2019: Aerial Ultimate Holdings Corporation), a company incorporated in Delaware, USA.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Andrew Grieve.
The auditor was Moore Kingston Smith LLP.