Uipath UK Limited

The directors present their report and the financial statements for the year ended 31 January 2024. Principal activity The principal activity of the company in the year under review was the provision of sales assistance, marketing support and research and development services in relation to the AI-powered automation platform developed by the Group. The company does not have any branches that operate outside of the UK. Results and dividends The profit for the year, after taxation, amounted to £6,971,606 (2023 - £3,036,362). No dividends have been recommended by directors or paid to shareholders during the year ended 31 January 2024 (2023: £nil). Directors The directors who served during the year were: Ionut Valentin Sas Mihai Faur John Patrick Kelleher Political contributions No political donations have been made during the year ended 31 January 2024 (2023: £nil). Research and development activities Starting with FY23, UiPath UK Limited has started to provide further services under Research & Development agreement to the benefit of the UiPath principles from the Group. Going concern At the end of the financial year, the company had a net liability position of £10,714,146 (2023: net liabilities of £17,685,752). Having considered the company’s current financial position and the group’s cashflow projections, the directors believe that the company will be able to continue in operational existence for at least the next 12 months from the date of approval of these financial statements and that it is appropriate to continue to prepare the financial statements on a going concern basis. As the company business model relates to a low risk services provider that has a sustainable secured level of profitability, there are no going concern consideration that the company is exposed to. In addition, the additional license agreement for the communications mining technology ensures additional revenues and liquidity to pay third party debts with ease. This will be done by converting the receivable that UiPath Netherlands Holding BV has against it. The Company is in the process of converting the intercompany creditor balance with UiPath Netherlands Holding BV for £36,367,827 into equity increase with cash contribution from UiPath Netherlands Holding BV to the Company which is expected to be completed during FY2025. Accordingly, the financial statements have been prepared on a going concern basis. Statement on engagement with stakeholders Please refer to the Section 172(1) Statement in the strategic report for further details of this level of engagement. Streamlined Energy and Carbon reporting This section includes reporting of the company's greenhouse gas emissions and energy usage for the year ending 31 January 2024 in accordance with the companies (directors' report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. UiPath Group remains committed to building a multi-generational, purpose-driven business that minimizes our environmental impact on the planet and creates long-term value. Delivering on that commitment while adhering to global standards is the foundation of our Environmental, Social, and Governance (ESG) program. We believe that automation can have a meaningful and measurable impact on how UiPath, as well as our customers and partners, run their businesses, formulate ESG priorities, and launch and measure ESG programs. We measure our ESG efforts across four pillars that align with our business strategy: 1. Leveraging Automation for Good 2. Empowering People and Communities 3. Protecting the Environment 4. Fostering Good Governance We strive to create a more sustainable future for all by developing innovative solutions for environmental challenges at UiPath and with our customers. We are committed to promoting environmentally conscious behaviours in our daily interactions. Our efforts include our cloud-first approach and our commitment to energy and water conservation and waste management. UiPath technology can help companies measure and minimize their environmental impacts, and we are focused on supporting our customers and partners as they look to leverage automation in their own environmental programs. The company is part of UiPath Group, ultimate holding company UiPath Inc., incorporated in the United States of America is a company listed on New York Stock Exchange. For more information, please refer to UiPath, Inc. annual report. Copies of the financial statements of UiPath Inc, are available from the SEC website or UiPath website. Financial risk management The company is exposed to a number of different financial risks arising from natural business exposures including market risks relating to foreign currency exchange rates; credit risk; and liquidity risk. Foreign currency exchange risk The company incurs foreign currency risk on transactions that are denominated in currencies other than GBP. Exposure to foreign currency risk is monitored on an on-going basis and the company endeavours to keep its currency exposure at an acceptable level. The company does not hedge its foreign currency denominated assets and liabilities. Interest rate risk The company does not hold any investment instruments, nor debt outstanding balances that might materially expose the company to changes in interest rates. Credit risk The company’s exposure to credit risk arises primarily from amount due from group company and cash and bank balances. For other financial assets, the company minimises credit risk by dealing exclusively with high credit rating counterparties. Liquidity risk The company manages its liquidity risk by forecasting cash flow regularly and optimising net working capital. Disclosure of information to auditor Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: 1. so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and 2. the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information. Post balance sheet events The Company has dissolved via voluntary strick-off the company Reinfer Ltd on 7 May 2024, after the aquisition took place in 2022. On April 2024, UiPath UK Ltd entered into a new long-term lease agreement for office space located at 50th Floor East part, 22 Bishopsgate, London EC2N 4BQ. The lease term is for a period of 121 months, commencing on 1 April 2024 and expiring on 30 April 2034.As a result of this new lease agreement, the company’s registered office address has been updated to the aforementioned location. This strategic move is expected to support the company’s continued growth and operational efficiency. On 1 July 2024, the board have approved the equity increase to ensure sustainable net asset position for the Company in the subsequent period of these financial statements. This will be done by converting the receivable that UiPath Netherlands Holding BV has against it. The Company is in the process of converting the intercompany creditor balance with UiPath Netherlands Holding BV for £36,367,827 into equity increase with cash contribution from UiPath Netherlands Holding BV to the Company which is expected to be completed during FY2025. Auditor The auditor, Grant Thornton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.