Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302023-06-30falseManufacture of computers and peripheral equipmentfalse2022-07-01false46 08876317 2022-07-01 2023-06-30 08876317 2021-07-01 2022-06-30 08876317 2023-06-30 08876317 2022-06-30 08876317 2021-07-01 08876317 2 2022-07-01 2023-06-30 08876317 2 2021-07-01 2022-06-30 08876317 d:CompanySecretary1 2022-07-01 2023-06-30 08876317 d:Director1 2022-07-01 2023-06-30 08876317 d:Director2 2022-07-01 2023-06-30 08876317 d:Director3 2022-07-01 2023-06-30 08876317 d:Director4 2022-07-01 2023-06-30 08876317 d:Director5 2022-07-01 2023-06-30 08876317 d:Director6 2022-07-01 2023-06-30 08876317 d:Director7 2022-07-01 2023-06-30 08876317 d:RegisteredOffice 2022-07-01 2023-06-30 08876317 e:Buildings e:LongLeaseholdAssets 2022-07-01 2023-06-30 08876317 e:PlantMachinery 2022-07-01 2023-06-30 08876317 e:MotorVehicles 2022-07-01 2023-06-30 08876317 e:FurnitureFittings 2022-07-01 2023-06-30 08876317 e:OfficeEquipment 2022-07-01 2023-06-30 08876317 e:Goodwill 2022-07-01 2023-06-30 08876317 e:CurrentFinancialInstruments 2023-06-30 08876317 e:CurrentFinancialInstruments 2022-06-30 08876317 e:Non-currentFinancialInstruments 2023-06-30 08876317 e:Non-currentFinancialInstruments 2022-06-30 08876317 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 08876317 e:CurrentFinancialInstruments e:WithinOneYear 2022-06-30 08876317 e:Non-currentFinancialInstruments e:AfterOneYear 2023-06-30 08876317 e:Non-currentFinancialInstruments e:AfterOneYear 2022-06-30 08876317 e:ShareCapital 2022-07-01 2023-06-30 08876317 e:ShareCapital 2023-06-30 08876317 e:ShareCapital 2022-06-30 08876317 e:ShareCapital 2021-07-01 08876317 e:SharePremium 2022-07-01 2023-06-30 08876317 e:SharePremium 2023-06-30 08876317 e:SharePremium 2 2022-07-01 2023-06-30 08876317 e:SharePremium 2022-06-30 08876317 e:SharePremium 2021-07-01 08876317 e:SharePremium 2 2021-07-01 2022-06-30 08876317 e:OtherMiscellaneousReserve 2023-06-30 08876317 e:OtherMiscellaneousReserve 2 2022-07-01 2023-06-30 08876317 e:OtherMiscellaneousReserve 2022-06-30 08876317 e:OtherMiscellaneousReserve 2021-07-01 08876317 e:OtherMiscellaneousReserve 2 2021-07-01 2022-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2023-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2 2022-07-01 2023-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2022-06-30 08876317 e:RetainedEarningsAccumulatedLosses 2021-07-01 08876317 e:RetainedEarningsAccumulatedLosses 2 2021-07-01 2022-06-30 08876317 d:OrdinaryShareClass1 2022-07-01 2023-06-30 08876317 d:OrdinaryShareClass1 2023-06-30 08876317 d:OrdinaryShareClass1 2022-06-30 08876317 d:OrdinaryShareClass2 2022-07-01 2023-06-30 08876317 d:OrdinaryShareClass2 2023-06-30 08876317 d:OrdinaryShareClass2 2022-06-30 08876317 d:FRS102 2022-07-01 2023-06-30 08876317 d:Audited 2022-07-01 2023-06-30 08876317 d:FullAccounts 2022-07-01 2023-06-30 08876317 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08876317 e:Subsidiary1 2022-07-01 2023-06-30 08876317 e:Subsidiary1 1 2022-07-01 2023-06-30 08876317 e:Subsidiary2 2022-07-01 2023-06-30 08876317 e:Subsidiary2 1 2022-07-01 2023-06-30 08876317 e:Subsidiary3 2022-07-01 2023-06-30 08876317 e:Subsidiary3 1 2022-07-01 2023-06-30 08876317 e:Subsidiary4 2022-07-01 2023-06-30 08876317 e:Subsidiary4 1 2022-07-01 2023-06-30 08876317 e:Subsidiary5 2022-07-01 2023-06-30 08876317 e:Subsidiary5 1 2022-07-01 2023-06-30 08876317 e:Subsidiary6 2022-07-01 2023-06-30 08876317 e:Subsidiary6 1 2022-07-01 2023-06-30 08876317 e:Subsidiary7 2022-07-01 2023-06-30 08876317 e:Subsidiary7 1 2022-07-01 2023-06-30 08876317 e:Subsidiary8 2022-07-01 2023-06-30 08876317 e:Subsidiary8 1 2022-07-01 2023-06-30 08876317 d:Consolidated 2023-06-30 08876317 d:ConsolidatedGroupCompanyAccounts 2022-07-01 2023-06-30 08876317 2 2022-07-01 2023-06-30 08876317 6 2022-07-01 2023-06-30 08876317 e:ShareCapital 2 2022-07-01 2023-06-30 08876317 e:ShareCapital 2 2021-07-01 2022-06-30 08876317 f:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08876317









THE UNILINK GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
THE UNILINK GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
F Toye 
D A Purkess 
S T G Negus 
Z Whitworth 
J A Malin (Resigned 11 November 2022) 
P P Mullins (Resigned 11 November 2022) 
M S Narey (Resinged 28 July 2022) 




Company secretary
S L Wilkins



Registered number
08876317



Registered office
Europoint
5-11 Lavington Street

London

SE1 0NZ




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Statutory Auditor

1st Floor

73-81 Southwark Bridge Road

London

SE1 0NQ





 
THE UNILINK GROUP LIMITED
 

CONTENTS



Page
Group Strategic Report
 
1 - 3
Directors' Report
 
4 - 5
Independent Auditors' Report
 
6 - 9
Consolidated Statement of Comprehensive Income
 
10
Consolidated Balance Sheet
 
11
Company Balance Sheet
 
12
Consolidated Statement of Changes in Equity
 
13
Company Statement of Changes in Equity
 
14
Consolidated Statement of Cash Flows
 
15
Notes to the Financial Statements
 
16 - 33


 
THE UNILINK GROUP LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023

Introduction
 
The directors present the strategic report for The Unilink Group Limited {"the Company") and its subsidiaries (together, "the Group") for the year ended 30 June 2023.
Principal activity
The principal activity of the company continued to be provision of prison, prisoner and probation management software and related services and hardware.

Business review
 
Turnover for the year was £19.364m, an increase of 7% compared to £18.077m in 2022. The Gross profit was £10.456m (2022: £10.667m) and net assets at the year-end were £6.827m (2022: £5.935m).
The profit for the year was £999k compared to £541k in 2022.
The results for the year and the financial position at year end are considered to be satisfactory by the director. In recent years the company has achieved significant revenue growth since being awarded a contract in 2019 by Kriminalomsorgen (KO), the Norwegian Prison and Probation Service. The Contract is to configure and expand the company's existing products to deploy and maintain an integrated prison and probation software platform (potentially cloud based) across Norway (the KO Project). Existing contracts with other key customers including the UK Ministry of Justice and private prison operators in the UK and overseas have continued to grow.
Internally generated development costs of £2.578m were capitalised in 2023 (2022: £2.580m). This is consistent with the company's continued strategy of significant investment in its software platforms.
Key performance indicators
The key indicators used to monitor the financial performance of the group are as follows:
                                                                                      
 2023                       2022
Turnover                                                                       19,363,986            18,076,678
Gross profit margin                                                             54%                       59%
Profit for the year                                                           999,552                 541,176

The group relies on the domain and technical expertise of its employees to succeed. We aim to provide competitive remuneration and a best-in-class training support program to attract retain and develop the high calibre experts that our customers require.

Page 1

 
THE UNILINK GROUP LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023

Principal risks and uncertainties
 
The principal risks and uncertainties continuing to face the group are broadly grouped as inflation, COVID-19, market and product, competition, and price, operational, and financial and credit risk. These are monitored by the management team and reviewed regularly by the director.
Inflation
The group seeks to pay competitive salaries to retain and recruit staff and is therefore exposed to market increase in cost of living. All market customer contracts include inflation adjustments to revenue and therefore the company has a degree of natural hedge, in the longer term although in the short term some volatility does exist.
Market and product risk
The group remains committed to developing innovative software (and associated services and hardware) to help Justice organisations manage offenders and regimes in a humane and cost-effective way for the benefit of all. The director requires that management seek to analyse and monitor market opportunities and demands (both current and forecast) and technological solutions. This in turn allows the director to focus management's attention on the appropriate sectors and opportunities to provide growth in revenue and margins.
Competition and price risk
The markets are globally fragmented and strong regional competitors exist, and price aggressively. The company has responded by building on its customer base and by introducing new technologies into the marketplace to maintain and grow its market position.
Operational risk
As the business expands, new processes and policies must be developed to manage the larger staff group and to help train and support the new management group. The director continues to monitor and support the senior management in this challenge on an ongoing basis.
Financial instruments and related financial risks
The group's operations are now across a number of countries and it is therefore exposed to a variety of financial risks including liquidity risk (lack of tradable assets/cash to run operations or settle immediate liabilities), foreign exchange (gains or losses due to currency change), credit risk (both via risks to debtor collection and ability of the business to raise working capital) and interest rate risk (volatility in the cost of servicing debt).
The group's profitable business generates liquidity (tradable assets/cash). The group monitors and reviews exposure on a recurring basis and seeks to manage and limit any material adverse effects.
• Customer prices, and supplier costs are monitored and managed to maintain margins yet remain competitive.
• Currency exchange risk is primarily due to revenues in Europe and Australasia. The group monitors this to maintain a natural hedge to ensure as far as possible that exposure on receivables is offset by exposure on payables.
• Group funding is currently a mix of retained earnings and longer-term debt at a fixed interest rate, thereby mitigating interest rate risk and ensuring certainty of debt servicing costs.
• Credit risk relates to customers and cash held; cash is placed with banks of a minimum credit rating approved by the board, and customers seeking credit terms for material sums are subject to credit verification procedures. Trade debtors are actively monitored, and provision made for doubtful debts where necessary, but the nature of the principal activity makes this a limited risk for the group.
Page 2

 
THE UNILINK GROUP LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023


Future developments
 
The group continues significant investment in the development of its Software products and platforms. 


This report was approved by the board and signed on its behalf.



F Toye
Director

Date: 1 March 2024

Page 3

 
THE UNILINK GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023

The directors present their report and the financial statements for the year ended 30 June 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £999,552 (2022 - £541,176).

Dividends totalling £169,500 (2022: £154,000) were declared and paid in the year.

Directors

The directors who served during the year were:

F Toye 
D A Purkess 
S T G Negus 
Z Whitworth 
J A Malin (Resigned 11 November 2022) 
P P Mullins (Resigned 11 November 2022) 
M S Narey (Resinged 28 July 2022) 

Page 4

 
THE UNILINK GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

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 and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsBarnes Roffe LLPwill 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.
 





F Toye
Director

Date: 1 March 2024

Page 5

 
THE UNILINK GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE UNILINK GROUP LIMITED
 

Opinion


We have audited the financial statements of The Unilink Group Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2023, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 30 June 2023 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
THE UNILINK GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE UNILINK GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


Page 7

 
THE UNILINK GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE UNILINK GROUP LIMITED (CONTINUED)


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the scrap metal recycling sector;
• The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
o Companies Act 2006;
o FRS102;
o Customs, VAT and Excise legislation;
o Health and Safety at work act;
o Scrap Metals Dealers Act 2013;
o Employment legislation; and
o Tax legislation.
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes, reviewing internal audit reports and inspecting legal correspondence and invoices;
• Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit.
• As auditors of all group companies we were able to cover the above matters at a group and component level and thereby ensure the audit team were aware of the above matters across all group companies.
We assessed the susceptibility of the group and the parent company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
• Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
• Reviewing the financial statements and testing the disclosures against supporting documentation;
 
Page 8

 
THE UNILINK GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE UNILINK GROUP LIMITED (CONTINUED)


• Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates, including accruals, bad debt provision and depreciation were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the group and the parent company’s usual course of business.
The areas that we identified as being susceptible to misstatement through fraud were:
• Management bias in regard to accounting estimates and judgements made;
• Management override of controls; and
• Posting of unusual journals or transactions.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

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 2006Our 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 an Auditors' Report 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.





Duncan Stannett (Senior Statutory Auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants & Statutory Auditor
1st Floor
73-81 Southwark Bridge Road
London
SE1 0NQ
 

1 March 2024
Page 9

 
THE UNILINK GROUP LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2023

2023
2022
Note
£
£

  

Turnover
 4 
19,363,986
18,076,678

Cost of sales
  
(8,908,279)
(7,409,724)

Gross profit
  
10,455,707
10,666,954

Administrative expenses
  
(10,288,368)
(10,402,930)

Operating profit
 5 
167,339
264,024

Interest receivable and similar income
 9 
616
-

Interest payable and similar expenses
 10 
(17,651)
(81,399)

Profit before tax
  
150,304
182,625

Tax on profit
 11 
849,248
358,551

Profit for the financial year
  
999,552
541,176

Owners of the parent company
  
(999,552)
(541,176)

There were no recognised gains and losses for 2023 or 2022 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 16 to 33 form part of these financial statements.

Page 10

 
THE UNILINK GROUP LIMITED
REGISTERED NUMBER: 08876317

CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 12 
7,851,232
6,491,302

Tangible assets
 13 
1,429,447
1,769,253

  
9,280,679
8,260,555

Current assets
  

Stocks
 15 
285,136
147,148

Debtors
 16 
5,356,238
3,560,635

Cash at bank and in hand
 17 
603,490
13,922

  
6,244,864
3,721,705

Creditors: amounts falling due within one year
  
(6,901,771)
(5,220,283)

Net current liabilities
  
 
 
(656,907)
 
 
(1,498,578)

Total assets less current liabilities
  
8,623,772
6,761,977

Creditors: amounts falling due after more than one year
 19 
(1,000,005)
-

Provisions for liabilities
  

Deferred tax
 20 
(826,772)
(826,772)

Net assets
  
6,796,995
5,935,205


Capital and reserves
  

Called up share capital 
 21 
100,501
100,501

Share premium account
  
-
30,500

Share option reserve
  
210,436
162,698

Profit and loss account
  
6,486,058
5,641,506

  
6,796,995
5,935,205


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2024.




F Toye
Director

The notes on pages 16 to 33 form part of these financial statements.

Page 11

 
THE UNILINK GROUP LIMITED
REGISTERED NUMBER: 08876317

COMPANY BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 14 
7,811,007
7,811,007

  
7,811,007
7,811,007

Current assets
  

Debtors
 16 
500
31,000

Cash at bank and in hand
 17 
398
439

  
898
31,439

Creditors: amounts falling due within one year
 18 
(2,283,029)
(7,519,781)

Net current liabilities
  
 
 
(2,282,131)
 
 
(7,488,342)

Total assets less current liabilities
  
5,528,876
322,665

  

Creditors: amounts falling due after more than one year
 19 
(5,236,824)
-

  

Net assets
  
292,052
322,665


Capital and reserves
  

Called up share capital 
 21 
100,501
100,501

Share premium account
  
-
30,500

Other reserves
  
210,436
162,698

Profit and loss account brought forward
  
28,966
76,949

Profit for the year
  
107,149
117,017

Other changes in the profit and loss account

  

(155,000)
(165,000)

Profit and loss account carried forward
  
(18,885)
28,966

  
292,052
322,665


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2024.


F Toye
Director

The notes on pages 16 to 33 form part of these financial statements.

Page 12

 
THE UNILINK GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2022
100,501
30,500
162,698
5,641,506
5,935,205



Profit for the year
-
-
-
999,552
999,552

Dividends
-
-
-
(155,000)
(155,000)

Shares redeemed during the year
-
(30,500)
-
-
(30,500)

Share-based payments
-
-
47,738
-
47,738


At 30 June 2023
100,501
-
210,436
6,486,058
6,796,995



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2021
100,501
30,500
114,960
5,265,330
5,511,291



Profit for the year
-
-
-
541,176
541,176

Dividends
-
-
-
(165,000)
(165,000)

Share-based payments
-
-
47,738
-
47,738


At 30 June 2022
100,501
30,500
162,698
5,641,506
5,935,205


The notes on pages 16 to 33 form part of these financial statements.

Page 13

 
THE UNILINK GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2022
100,501
30,500
162,698
28,966
322,665



Profit for the year
-
-
-
107,149
107,149

Dividends
-
-
-
(155,000)
(155,000)

Shares redeemed during the year
-
(30,500)
-
-
(30,500)

Share based payments
-
-
47,738
-
47,738


At 30 June 2023
100,501
-
210,436
(18,885)
292,052



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2021
100,501
30,500
114,960
76,949
322,910



Profit for the year
-
-
-
117,017
117,017

Dividends
-
-
-
(165,000)
(165,000)

Share based payments
-
-
47,738
-
47,738


At 30 June 2022
100,501
30,500
162,698
28,966
322,665


The notes on pages 16 to 33 form part of these financial statements.

Page 14

 
THE UNILINK GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
167,339
264,024

Adjustments for:

Amortisation of intangible assets
1,218,787
1,506,279

Depreciation of tangible assets
463,230
528,467

(Increase)/decrease in stocks
(137,988)
569,408

(Increase) in debtors
(1,286,920)
(461,860)

Increase/(decrease) in creditors
3,006,924
(791,863)

Corporation tax received
311,448
105,476

Share based payments
47,738
47,738

Net cash generated from operating activities

3,790,558
1,767,669


Cash flows from investing activities

Purchase of intangible fixed assets
(2,578,717)
(2,305,462)

Purchase of tangible fixed assets
(123,424)
(599,577)

Interest received
616
-

Net cash from investing activities

(2,701,525)
(2,905,039)

Cash flows from financing activities

New secured loans
-
345,000

Repayment of loans
(258,750)
-

Dividends paid
(155,000)
(165,000)

Interest paid
(17,651)
(81,399)

Net cash used in financing activities
(431,401)
98,601

Net increase/(decrease) in cash and cash equivalents
657,632
(1,038,769)

Cash and cash equivalents at beginning of year
(54,142)
984,627

Cash and cash equivalents at the end of year
603,490
(54,142)


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
603,490
13,922

Bank overdrafts
-
(68,064)

603,490
(54,142)


Page 15

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Unilink Group Limited ('the company") is a private limited company domiciled and incorporated in England and Wales. The registered office is Europoint Centre, 5-11 Lavington Street, London, SE1 ONZ.
The group consists of The Unilink Group Limited and all of its subsidiaries.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2015.

Page 16

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 17

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 18

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the term of the lease on a straight line basis
Plant and machinery
-
25-33% per annum on a reducing balance basis
Motor vehicles
-
25% per annum on a reducing balance basis
Fixtures and fittings
-
25% per annum on a reducing balance basis
Office equipment
-
25-33% per annum on a reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 19

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans 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.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.17

Creditors

Short-term creditors 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.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 20

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.21

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 21

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumpt1ons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods when the revision affects current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recogniserl in financial statements.
Impairment of assets
The directors have applied judgement in order to determine whether there are indicators of impairment of the Group's tangible and intangible assets, including goodwill, at the year-end.
Determining whether goodwill or other non-current assets are impaired requires an estimation of the value in use of the business being tested for impairment and of the cash-generating units to which these assets have been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash-generating unit, taking into account the achievability of long-term business plans.
Revenue recognition
Revenue is recognised either when the significant risks and rewards of ownership of goods have passed to the buyer or when stage of completion for the provision of services can be estimated reliably. As such there is judgement as to the stage of completion with regards to the provision of services as to the stage of completion and the costs to complete.
Capitalisation of internally developed intangible assets
In calculating the internally developed intangible assets, judgement is required in determining if the assets meet the requirements of the relevant standard for recognition as an intangible asset and whether they will derive economic benefits for the company going forward.

Page 22

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Turnover

2023
2022
£
£

Turnover
19,363,986
18,076,678

19,363,986
18,076,678


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
16,233,610
15,279,498

Rest of Europe
2,321,133
893,393

Rest of the world
809,243
1,903,787

19,363,986
18,076,678



5.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of owened assets
528,467
528,467

Exchange differences
(105,938)
42,033

Other operating lease rentals
330,837
352,959

Share-based payment
-
34,738

(91,692)
(182,803)


6.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2023
2022
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
47,850
109,320


The audit fees are recharged from the parent company to the trading subsidaries and borne by them.




Page 23

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
9,164,482
7,447,927
-
-

Social security costs
1,095,947
1,130,480
-
-

Cost of defined contribution scheme
711,379
712,625
-
-

10,971,808
9,291,032
-
-


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Management
4
6
4
6



Technical, Project, and Software Development
129
141
-
-



Administration
26
28
-
-



Sales
10
11
-
-

169
186
4
6


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
105,601
47,738

105,601
47,738


The highest paid director received remuneration of £105,601 (2022 - £202,158).


9.


Interest receivable

2023
2022
£
£


Other interest receivable
616
-

616
-

Page 24

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
16,468
80,873

Other interest payable
1,183
526

17,651
81,399


11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
(849,248)
(800,361)


Total current tax
(849,248)
(800,361)

Deferred tax


Origination and reversal of timing differances
-
441,810

Total deferred tax
-
441,810


Tax on profit
(849,248)
(358,551)
Page 25

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2022 - the same as) the standard rate of corporation tax in the UK of 19/25% (2022 - 19%) as set out below:

2023
2022
£
£


Profit on ordinary activities before tax
150,304
186,052


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19/25% (2022 - 19%)
28,558
35,350

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
7,428
10,018

Capital allowances for year in excess of depreciation
28,695
(32,234)

Deduction for qualifying R&D expenditure
(1,123,930)
(866,682)

Research and development tax credit
849,227
911,229

Amortisation on assets not qualifying for tax allowances
-
223,400

Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment
(798,760)
(800,361)

Unrelieved tax losses carried forward
42,986
42,986

Other tax charge (relief) on exceptional items
-
1,115

Effect of change in corporation tax rate
116,548
103,463

Change in unrecognised deferred tax assets
-
13,165

Total tax charge for the year
(849,248)
(358,551)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 26

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


Intangible assets

Group and Company





Patents
Development expenditure
Goodwill
Total

£
£
£
£



Cost


At 1 July 2022
84,936
6,796,732
6,388,786
13,270,454


Additions
-
2,578,717
-
2,578,717



At 30 June 2023

84,936
9,375,449
6,388,786
15,849,171



Amortisation


At 1 July 2022
84,936
1,942,652
4,751,564
6,779,152


Charge for the year on owned assets
-
42,998
1,175,789
1,218,787



At 30 June 2023

84,936
1,985,650
5,927,353
7,997,939



Net book value



At 30 June 2023
-
7,389,799
461,433
7,851,232



At 30 June 2022
-
4,854,080
1,637,222
6,491,302



Page 27

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Tangible fixed assets

Group






Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 July 2022
64,684
306,990
26,200
800,095
4,015,856


Additions
-
29,556
-
91,348
2,520



At 30 June 2023

64,684
336,546
26,200
891,443
4,018,376



Depreciation


At 1 July 2022
44,704
179,476
26,200
596,975
2,597,217


Charge for the year on owned assets
4,995
38,940
-
64,424
354,871



At 30 June 2023

49,699
218,416
26,200
661,399
2,952,088



Net book value



At 30 June 2023
14,985
118,130
-
230,044
1,066,288



At 30 June 2022
19,980
127,514
-
203,120
1,418,639
Page 28

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

           13.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 July 2022
5,213,825


Additions
123,424



At 30 June 2023

5,337,249



Depreciation


At 1 July 2022
3,444,572


Charge for the year on owned assets
463,230



At 30 June 2023

3,907,802



Net book value



At 30 June 2023
1,429,447



At 30 June 2022
1,769,253

Page 29

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

14.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
7,811,007



At 30 June 2023
7,811,007





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Unilink Software Limited
Ordinary
100%
Unilink Technology Services Limited
Ordinary
100%
Acante Solutions Limited
Ordinary
100%
Fone Savvy Limited
Ordinary
100%
Southbank IT Solutions Limited
Ordinary
100%
Beaumont Colson Limited
Ordinary
100%
Unilink Software BV
Ordinary
100%
Unilink Software {Norway) AS
Ordinary
100%


15.


Stocks

Group
Group
2023
2022
£
£

Finished goods and goods for resale
285,136
147,148

285,136
147,148


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 30

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

16.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£



Trade debtors
813,963
1,266,160
-
-

Other debtors
2,903,150
864,717
500
31,000

Called up share capital not paid
100
100
-
-

Prepayments and accrued income
1,639,025
1,429,658
-
-

5,356,238
3,560,635
500
31,000



17.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
603,490
13,922
398
439

Less: bank overdrafts
-
(68,064)
-
-

603,490
(54,142)
398
439



18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank overdrafts
-
68,064
-
-

Bank loans
86,250
345,000
-
-

Trade creditors
1,598,421
1,206,464
-
-

Amounts owed to group undertakings
-
-
2,000,000
6,995,164

Corporation tax
24,784
23,401
-
-

Other taxation and social security
1,050,216
1,033,749
-
-

Other creditors
390,620
610,050
283,029
524,617

Accruals and deferred income
3,751,480
1,933,555
-
-

6,901,771
5,220,283
2,283,029
7,519,781


Page 31

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

19.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Amounts owed to group undertakings
-
-
5,236,824
-

Other creditors
1,000,005
-
-
-

1,000,005
-
5,236,824
-





20.


Deferred taxation


Group



2023


£






At beginning of year
(826,772)



At end of year
(826,772)

The provision for deferred taxation is made up as follows:

Group
Group
2023
2022
£
£

Accelerated capital allowances
(826,772)
(826,772)

(826,772)
(826,772)

Page 32

 
THE UNILINK GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

21.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000,100 (2022 - 10,000,100) Ordinary shares of £0.01 each
100,001
100,001
50,000 (2022 - 50,000) "B" Ordinary shares of £0.01 each
500
500

100,501

100,501



22.


Commitments under operating leases

At 30 June 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2023
2022
£
£

Not later than 1 year
-
284,489

Later than 1 year and not later than 5 years
-
836,912

Later than 5 years
-
558,362

-
1,679,763

23.


Controlling party

Francis Toye, Director, is the controlling party of the company and the group.

 
Page 33