UNITY CSP LTD

Company Registration Number:
10344537 (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 CSP LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

UNITY CSP LTD

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 1,456,026 1,487,982
Cost of sales: ( 1,234,198 ) ( 1,237,958 )
Gross profit(or loss): 221,828 250,024
Administrative expenses: ( 185,952 ) ( 182,798 )
Operating profit(or loss): 35,876 67,226
Interest payable and similar charges: ( 10,969 ) ( 10,747 )
Profit(or loss) before tax: 24,907 56,479
Tax: 3,775 2,079
Profit(or loss) for the financial year: 28,682 58,558

UNITY CSP LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 133,864 103,743
Tangible assets: 4 146,834 140,240
Investments: 5 300,000 300,000
Total fixed assets: 580,698 543,983
Current assets
Debtors: 6 175,823 64,398
Cash at bank and in hand: 86,161 273,415
Total current assets: 261,984 337,813
Creditors: amounts falling due within one year: 7 ( 212,518 ) ( 192,836 )
Net current assets (liabilities): 49,466 144,977
Total assets less current liabilities: 630,164 688,960
Creditors: amounts falling due after more than one year: 8 ( 161,603 ) ( 207,039 )
Total net assets (liabilities): 468,561 481,921
Capital and reserves
Called up share capital: 50,000 50,000
Other reserves: 257,514 299,556
Profit and loss account: 161,047 132,365
Total Shareholders' funds: 468,561 481,921

The notes form part of these financial statements

UNITY CSP 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 CSP 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 CSP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

UNITY CSP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 167,743 167,743
Additions 30,121 30,121
Disposals
Revaluations
Transfers
At 31 December 2023 197,864 197,864
Amortisation
At 1 January 2023 64,000 64,000
Charge for year 0 0
On disposals 0 0
Other adjustments
At 31 December 2023 64,000 64,000
Net book value
At 31 December 2023 133,864 133,864
At 31 December 2022 103,743 103,743

UNITY CSP 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 357,331 357,331
Additions 10,020 10,020
Disposals
Revaluations
Transfers
At 31 December 2023 367,351 367,351
Depreciation
At 1 January 2023 217,091 217,091
Charge for year 3,426 3,426
On disposals
Other adjustments
At 31 December 2023 220,517 220,517
Net book value
At 31 December 2023 146,834 146,834
At 31 December 2022 140,240 140,240

UNITY CSP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Fixed assets investments note

In 2020 the group (Unity World Ltd) reorganised its strategic business units, Unity CSP Ltd was refocused on supplying customers in each of its go to market channels (Enterprise, Channel Partners and Corporate) with Telecommunications, mobile and internet services. Previously UnityWorkplace IT Ltd had provided the enterprise channel these services, yet it made strategic and operational sense to supply these services in one business unit. Unity CSP purchased the customer base which was £107K from Unity Workplace IT for £300,000, this was in line withindustry norms of three times the billing base, the purchase also attracted a higher-than-normal gross margin which allowed for a more aggressive pricing strategy to the channel customer which would allow for further growth in this channel.

UNITY CSP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 175,823 64,398
Total 175,823 64,398

UNITY CSP 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 45,437 42,624
Trade creditors 149,935 142,467
Taxation and social security 12,378 2,128
Other creditors 4,768 5,617
Total 212,518 192,836

UNITY CSP 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 161,603 207,039
Total 161,603 207,039