UNDO LIMITED

Company Registration Number:
05494036 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

UNDO LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

UNDO LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 92,902 99,566
Tangible assets: 4 44,522 9,191
Investments: 5 10,228 8
Total fixed assets: 147,652 108,765
Current assets
Stocks: 0 0
Debtors: 6 477,177 810,946
Cash at bank and in hand: 1,218,497 1,439,839
Investments:   0 0
Total current assets: 1,695,674 2,250,785
Creditors: amounts falling due within one year: 7 (379,878) (320,231)
Net current assets (liabilities): 1,315,796 1,930,554
Total assets less current liabilities: 1,463,448 2,039,319
Provision for liabilities: (20,000)
Total net assets (liabilities): 1,443,448 2,039,319
Capital and reserves
Called up share capital: 1,527,352 1,064,929
Share premium account: 23,224,525 23,186,947
Profit and loss account: (23,308,429) (22,212,557)
Shareholders funds: 1,443,448 2,039,319

The notes form part of these financial statements

UNDO LIMITED

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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 June 2024
and signed on behalf of the board by:

Name: Greg Law
Status: Director

The notes form part of these financial statements

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

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

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 29 31

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 231,631
Additions 21,565
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2023 253,196
Amortisation
At 01 January 2023 132,065
Charge for year 28,229
On disposals 0
Other adjustments 0
At 31 December 2023 160,294
Net book value
At 31 December 2023 92,902
At 31 December 2022 99,566

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 352,615
Additions 50,220
Disposals (3,629)
Revaluations 0
Transfers 0
At 31 December 2023 399,206
Depreciation
At 01 January 2023 343,424
Charge for year 14,290
On disposals (3,030)
Other adjustments 0
At 31 December 2023 354,684
Net book value
At 31 December 2023 44,522
At 31 December 2022 9,191

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Fixed investments

Investments in Subsidiary Companies - at 31 Dec 2023 £10,288 (£8 1 January 2023). During the year the Company incorporated a business in India called Undo Business Solutions Private Limited.

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 Trade creditors £39,966, (£21,289 2022) Other taxation and social security £91,472, (£76,044 2022) Other creditors £37,281, (£ 24,996 2022) Accruals and deferred income £211,159 (£197,902 2022) Total £379,878, (£ 320,231 2022) Other creditors include contributions of £21,100 (2022 - £19,204) payable to the Company's defined contribution pension scheme at 31 December 2023.

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Financial commitments

COMMITMENTS UNDER OPERATING LEASES At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £75,276, (£ 17,946 2022) Later than 1 year and not later than 5 years £104,355 (£- 2022) Total £179,631, (£ 17,946 2022)

UNDO LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

9. Changes in presentation and prior period adjustments

PRIOR YEAR ADJUSTMENT During the year, the Directors identified that the share options expense had been incorrectly calculated over the past four years as a result of incorrectly accounting for leavers to the scheme. The impact on the Balance Sheet is £NIL as the adjustment is between the share options reserve and the profit and loss reserve, which offset against each other. The share options charge in the Statement of Comprehensive Income for the year ended 31 December 2022 has increased by £116,898.