NAVAN LABS UK LIMITED

• ⚠

  Material uncertainty over going concern

  The directors have prepared the financial statements on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. On the basis that its ultimate parent undertaking Navan Inc. has confirmed its intention to provide financial support as may be necessary to continue to operate as a going concern and meet its obligations in full for at least 15 months from the approval date of these financial statements. However, the company has a material uncertainty in relation to its going concern status as result of its reliance on the support of its ultimate parent undertaking and whilst a letter of support has been received, there can be no certainty that the support will continue to be available for the foreseeable future.

1. NAVAN LABS UK LIMITED 2023-02-07 → present
2. TRIPACTIONS LIMITED 2018-03-12 → 2023-02-07

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors have prepared the financial statements on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. On the basis that its ultimate parent undertaking Navan Inc. has confirmed its intention to provide financial support as may be necessary to continue to operate as a going concern and meet its obligations in full for at least 15 months from the approval date of these financial statements. However, the company has a material uncertainty in relation to its going concern status as result of its reliance on the support of its ultimate parent undertaking and whilst a letter of support has been received, there can be no certainty that the support will continue to be available for the foreseeable future.”

Significant events

• “The company paid an interim dividend of £2.3 million to its parent company. Subsequent to the payment, it was identified that the company did not have sufficient distributable reserves at the time of declaration, rendering the dividend unlawful under the Companies Act 2006. As a result, the dividend has been rescinded, and the financial statements have been adjusted accordingly with the payment showing as a receivable from the parent company as at the reporting date. No further distributions will be made until such time as there are reserves available for the purpose.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

3

last 24 months

Officers appointed

2

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +24.7%

  £22,572,265 → £28,155,738

• Cash

  -54.3%

  £4,034,517 → £1,845,224

• Net assets

  +8.1%

  £7,214,881 → £7,802,057

• Employees

  +24.8%

  109 → 136

• Operating profit

  +30%

  £992,933 → £1,290,991

• Profit before tax

  +29.2%

  £1,016,990 → £1,314,112

• Wages

  +35.6%

  £12,572,844 → £17,050,569

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers