UNITY AI SOFTWARE LTD

Company Registration Number:
11578922 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

UNITY AI SOFTWARE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

UNITY AI SOFTWARE LTD

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 37,067 6,941
Cost of sales: ( 336 ) ( 388 )
Gross profit(or loss): 36,731 6,553
Administrative expenses: ( 24,056 ) ( 763 )
Operating profit(or loss): 12,675 5,790
Interest payable and similar charges: ( 9,245 ) ( 1,246 )
Profit(or loss) before tax: 3,430 4,544
Tax: 16,797 21,742
Profit(or loss) for the financial year: 20,227 26,286

UNITY AI SOFTWARE LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 662,388 518,464
Tangible assets: 4 205 815
Total fixed assets: 662,593 519,279
Current assets
Stocks: 5 5,270 0
Debtors: 6 4,325 6,386
Cash at bank and in hand: 59,458 17,179
Total current assets: 69,053 23,565
Creditors: amounts falling due within one year: 7 ( 129,726 ) ( 80,393 )
Net current assets (liabilities): (60,673) (56,828)
Total assets less current liabilities: 601,920 462,451
Creditors: amounts falling due after more than one year: 8 ( 185,145 ) ( 45,899 )
Total net assets (liabilities): 416,775 416,552
Capital and reserves
Called up share capital: 100,000 100,000
Other reserves: 148,617 168,621
Profit and loss account: 168,158 147,931
Total Shareholders' funds: 416,775 416,552

The notes form part of these financial statements

UNITY AI SOFTWARE LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 5 April 2024
and signed on behalf of the board by:

Name: Simon Scotchbrook
Status: Director

The notes form part of these financial statements

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly overits expected useful life, as follows:Freehold buildings - over 50 yearsLeasehold land and buildings - over the lease termPlant and machinery - over 5 yearsFixtures, fittings, tools and equipment - over 3 years

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative 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.Amortisation of the company's intangible assets is to be incurred so as to write off the cost, less any estimated residual value over their useful life.

    Other accounting policies

    Research and DevelopmentIntangible assets included within the accounts represent costs that have been generated through Research and Development activities which have reached the development phase of a project,and only if the asset can demonstrate that it will generate probable future economic benefits for the company. The capitalised development costs will be subsequently amortised on a straight-line basis over the projects deemed economic life.basis over the projects deemed economic life.

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 4

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 518,464 518,464
Additions 143,924 143,924
Disposals
Revaluations
Transfers
At 31 December 2023 662,388 662,388
Amortisation
At 1 January 2023 0 0
Charge for year 0 0
On disposals
Other adjustments
At 31 December 2023 0 0
Net book value
At 31 December 2023 662,388 662,388
At 31 December 2022 518,464 518,464

Intangible assets are to be amortised in equal instalments over its estimated economic life.

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 2,362 2,362
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 2,362 2,362
Depreciation
At 1 January 2023 1,547 1,547
Charge for year 610 610
On disposals
Other adjustments
At 31 December 2023 2,157 2,157
Net book value
At 31 December 2023 205 205
At 31 December 2022 815 815

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Stocks

2023 2022
£ £
Stocks 5,270 0
Payments on account 0 0
Total 5,270 0

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 4,231 5,803
Prepayments and accrued income 0 0
Other debtors 94 583
Total 4,325 6,386

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 28,244 3,306
Trade creditors 83,875 54,685
Taxation and social security 13,254 1,525
Other creditors 4,353 20,877
Total 129,726 80,393

UNITY AI SOFTWARE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 185,145 45,899
Total 185,145 45,899