REGISTERED NUMBER: 10067991 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 17 MARCH 2016 TO 30 JUNE 2017

FOR

CULTURE AMP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Hannen-Williams

D R Elzinga

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

10067991 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

16,003

CURRENT ASSETS

Debtors

5

321,740

Cash at bank

217,421

539,161

CREDITORS

Amounts falling due within one year

6

1,780,250

NET CURRENT LIABILITIES

(1,241,089

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,225,086

)

CAPITAL AND RESERVES

Called up share capital

100

Other reserves

9

8,195

Retained earnings

9

(1,233,381

)

(1,225,086

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 May 2018 and were signed on its behalf by:

D R Elzinga - Director

1.	STATUTORY INFORMATION

Culture Amp Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, as the company is in its first period of

trading and despite total losses of £1,233,381 in the period the parent company will continue to financially

support the company for at least 12 months and 1 day from the approval of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company

does not have any other Financial Instruments as covered by Section 12 of FRS102.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

17,579

At 30 June 2017

17,579

DEPRECIATION

Charge for period

1,576

At 30 June 2017

1,576

NET BOOK VALUE

At 30 June 2017

16,003

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

270,220

Other debtors

51,520

321,740

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

15,282

Amounts owed to group undertakings

1,125,084

Taxation and social security

43,605

Other creditors & accruals

596,279

1,780,250

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

28,850

8.

SECURITY

The company's assets are subject to a charge in favour of the company's bankers relating to the banking facilities

provided.

9.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

Deficit for the period

(1,233,381

)

(1,233,381

)

Other reserves

-

8,195

8,195

At 30 June 2017

(1,233,381

)

8,195

(1,225,186

)

Other reserves relates to accumulated share option charges and is non-distributable.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included

within the full financial statements:-

"This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members

those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the

company's members as a body, for our audit work, for this report, or for the opinions we have formed."

11.	RELATED PARTY DISCLOSURES

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.

12.	ULTIMATE PARENT COMPANY

Culture Amp Pty Ltd, incorporated in Australia is considered to be the ultimate parent company.

13.	SHARE-BASED PAYMENT TRANSACTIONS

Employees are granted share options in Culture Amp Pty Ltd when they commence employment with the

company.

The options vest over a 4 year period and are exercisable for ten years from the grant date. 25% of shares subject

to the option shall vest twelve months in each subsequent year following the year of the grant, subject to the

employees' continuing employment with the employer, and no shares shall vest before such date. The remaining

shares shall vest over the next three years in equal amounts subject to the employees' continuing employment

with the employer. The options are equity settled.

During the year 26,550 share options were granted with a weighted average exercise price of $3.24.

As at 30 June 2017 the number of shares that are exercisable, have been fully vested, is 8,881 with a weighted

average exercise price of $2.05.

As at 30 June 2017 36,365 share options are unexercised with weighted average exercise price $2.68, and a

weighted average remaining contractual life of 9 years.The exercise prices range from $1.17 to $4.68.