Smartmatic UK Limited (the ‘Company’) is a company incorporated, registered and domiciled in England in the UK. The financial statements are presented in US Dollars to the nearest Dollar.
These financial statements were prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (“FRS101”).
The financial statements include those of the Company and its branch in Spain (Smartmatic UK Limited Branch Spain) for the year ended 31 December 2022.
The financial statements have been prepared and approved by the directors in accordance with international accounting standards in accordance with UK-adopted international accounting standards (“UK-adopted IFRS”). The Company has elected to prepare its parent company financial statements in accordance with FRS 101.
In preparing these financial statements, the Company applies the recognition, measurement and disclosure requirements of International Financial Reporting Standards as adopted by the EU (“Adopted IFRSs”), but makes amendments where necessary in order to comply with Companies Act 2006 and has set out below where advantage of the FRS 101 disclosure exemption has been taken.
The Company’s ultimate parent undertaking, SGO Corporation Ltd. includes the Company in its consolidated financial statements. The smallest group into which the accounts of the company are consolidated is SGO Corporation Limited. Copies of these consolidated accounts may be obtained from its registered office at 88 Baker Street, London, W1U 6TQ.
In these financial statements, the company has applied the exemptions available under FRS 101 in respect of the following disclosures:
• A cash flow statement and related notes;
• Disclosures in respect of transactions with wholly owned subsidiaries;
• Disclosures in respect of capital management; and
• Disclosures of transactions with a management entity that provides key management personnel services to the company.