Company registration number 05952128 (England and Wales)
UNITY CONTRACTING SERVICES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
UNITY CONTRACTING SERVICES LTD
COMPANY INFORMATION
Directors
Mr B Bryne
Mr W O'Grady
Mr D Power
Company number
05952128
Registered office
Kings House
3rd Floor
Kymberley Road
Harrow
HA1 1PT
Auditor
Evans Mockler Limited
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
UNITY CONTRACTING SERVICES LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 19
UNITY CONTRACTING SERVICES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present the strategic report for the year ended 31 March 2024.

Review of the business

The company's turnover and profits declined noticeably during the year under review, primarily due to a reduction in healthcare activity from some of our key clients. Excluding the healthcare sector, the company performed satisfactorily throughout the year.

The board remains optimistic for the future, with the company continuing to be driven by the quality of our staff, a strong client base, further investments in our IT systems, and the efforts to seek further prospects in the UK's construction and healthcare industries. We continue to remain vigilant regarding the economic pressures facing all industries.

Principal risks and uncertainties

We continue to face and manage ongoing challenges in our business environment. A change in the direction of interest rates has added reason to be extra vigilant in dealing with credit policy and mindful of any client solvency issues.

The primary risks to our business are associated with the health of the construction and healthcare industry and government regulations on the recruitment, construction, and healthcare industries.

Key performance indicators

Turnover for the year decreased by 29.18% to £99,703,193 (2023: £140,775,071) for the reasons stated above.

Profit before tax similarly decreased to £ 1,610,256 (2023: £2,156,456) which represents a like for like decrease in profitability of 25.3%.

On behalf of the board

Mr B Bryne
Director
4 October 2024
UNITY CONTRACTING SERVICES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company continued to be the provision of contracting services within the construction and health sectors.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,380,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr B Bryne
Mr W O'Grady
Mr D Power
Financial instruments

The company’s principal financial instruments are that of company standard bank current and deposit accounts, in addition to credit obtained from day to day business creditors. Other than standard business creditors, the company has no external debt or currency exposure. Company cash balances are held in short term deposit accounts.

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

 

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Future developments

The company continues to strive positively forward seeking and adding new clients where opportunities arise. We retain an experienced group dedicated personnel and continue our policy of investing heavily in the people and systems that helps drive our business.

Auditor

The auditor, Evans Mockler Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

UNITY CONTRACTING SERVICES LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr B Bryne
Director
4 October 2024
UNITY CONTRACTING SERVICES LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

The directors are responsible for preparing the annual report and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

UNITY CONTRACTING SERVICES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF UNITY CONTRACTING SERVICES LTD
- 5 -
Opinion

We have audited the financial statements of Unity Contracting Services Ltd (the 'company') for the year ended 31 March 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our 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.

Opinions on other matters prescribed by the Companies Act 2006

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

UNITY CONTRACTING SERVICES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF UNITY CONTRACTING SERVICES LTD (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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. In preparing the financial statements, the directors are responsible for assessing the 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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 financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

 

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 audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

UNITY CONTRACTING SERVICES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF UNITY CONTRACTING SERVICES LTD (CONTINUED)
- 7 -

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 2006. Our 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 auditor's 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.

Simon Toghill
Senior Statutory Auditor
For and on behalf of Evans Mockler Limited
4 October 2024
Chartered Certified Accountants
Statutory Auditor
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
UNITY CONTRACTING SERVICES LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
2024
2023
Notes
£
£
Turnover
2
99,703,193
140,775,071
Cost of sales
(97,635,562)
(138,176,500)
Gross profit
2,067,631
2,598,571
Administrative expenses
(491,229)
(451,516)
Operating profit
3
1,576,402
2,147,055
Interest receivable and similar income
5
46,028
9,401
Interest payable and similar expenses
6
(12,174)
-
0
Profit before taxation
1,610,256
2,156,456
Tax on profit
7
(402,564)
(409,727)
Profit for the financial year
1,207,692
1,746,729

The profit and loss account has been prepared on the basis that all operations are continuing operations.

UNITY CONTRACTING SERVICES LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 9 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
3,136,346
5,925,641
Cash at bank and in hand
701,520
109,463
3,837,866
6,035,104
Creditors: amounts falling due within one year
11
(3,733,052)
(5,757,982)
Net current assets
104,814
277,122
Capital and reserves
Called up share capital
13
12
12
Profit and loss reserves
104,802
277,110
Total equity
104,814
277,122

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
Mr B Bryne
Director
Company registration number 05952128 (England and Wales)
UNITY CONTRACTING SERVICES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
12
381
393
Year ended 31 March 2023:
Profit and total comprehensive income
-
1,746,729
1,746,729
Dividends
8
-
(1,470,000)
(1,470,000)
Balance at 31 March 2023
12
277,110
277,122
Year ended 31 March 2024:
Profit and total comprehensive income
-
1,207,692
1,207,692
Dividends
8
-
(1,380,000)
(1,380,000)
Balance at 31 March 2024
12
104,802
104,814
UNITY CONTRACTING SERVICES LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
16
2,575,491
(1,316,647)
Interest paid
(12,174)
-
0
Income taxes paid
(637,288)
(350,441)
Net cash inflow/(outflow) from operating activities
1,926,029
(1,667,088)
Investing activities
Interest received
46,028
9,401
Net cash generated from investing activities
46,028
9,401
Financing activities
Dividends paid
(1,380,000)
(1,470,000)
Net cash used in financing activities
(1,380,000)
(1,470,000)
Net increase/(decrease) in cash and cash equivalents
592,057
(3,127,687)
Cash and cash equivalents at beginning of year
109,463
3,237,150
Cash and cash equivalents at end of year
701,520
109,463
UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
1
Accounting policies
Company information

Unity Contracting Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Kings House, 3rd Floor, Kymberley Road, Harrow, HA1 1PT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2
Turnover
Turnover represents amounts billed to clients for the provision of contractually recoverable contracting services net of value added tax and discounts.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% on cost
Fixtures, fittings and equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 13 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Employee Benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Rendering of services
99,703,193
140,775,071
2024
2023
£
£
Other revenue
Interest income
46,028
9,401
3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
5,511
5,340
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Employees
269
249

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
5,795,985
7,741,015
Social security costs
552,223
785,241
Pension costs
69,391
92,563
6,417,599
8,618,819
UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
5
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
46,028
9,097
Other interest income
-
0
304
Total income
46,028
9,401
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
46,028
9,097
6
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
12,174
-
0
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
402,564
409,727

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,610,256
2,156,456
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
402,564
409,727
Taxation charge in the financial statements
402,564
409,727
8
Dividends
2024
2023
£
£
Interim paid
1,380,000
1,470,000
UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
9
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
37,470
36,143
73,613
Depreciation and impairment
At 1 April 2023 and 31 March 2024
37,470
36,143
73,613
Carrying amount
At 31 March 2024
-
0
-
0
-
0
At 31 March 2023
-
0
-
0
-
0
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,439,218
3,058,449
Prepayments and accrued income
1,697,128
2,867,192
3,136,346
5,925,641
11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
360
-
0
Corporation tax
175,003
409,727
Other taxation and social security
1,597,252
1,808,154
Other creditors
36,360
39,348
Accruals and deferred income
1,924,077
3,500,753
3,733,052
5,757,982
12
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
55,411
68,859

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
13
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
12 Ordinary of £1 each
12
12
14
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Description of
Income
Payments
transaction
2024
2023
2024
2023
£
£
£
£
Other related parties
Costs and management charges
-
0
-
0
90,981,988
97,798,156
Amounts owed to/by related parties

The following amounts were outstanding at the reporting end date:

Amount owed to
Amounts owed by
2024
2023
2024
2023
£
£
£
£
Other related parties
1,296,448
3,041,800
-
0
-
0

All transactions with related parties were undertaken in the normal course of business with outstanding balances repayable on normal commercial terms.

15
Ultimate controlling party

There is no ultimate controlling party.

 

UNITY CONTRACTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
16
Cash generated from/(absorbed by) operations
2024
2023
£
£
Profit for the year after tax
1,207,692
1,746,729
Adjustments for:
Taxation charged
402,564
409,727
Finance costs
12,174
-
0
Investment income
(46,028)
(9,401)
Movements in working capital:
Decrease/(increase) in debtors
2,789,295
(2,809,949)
Decrease in creditors
(1,790,206)
(653,753)
Cash generated from/(absorbed by) operations
2,575,491
(1,316,647)
17
Analysis of changes in net funds
1 April 2023
Cash flows
31 March 2024
£
£
£
Cash at bank and in hand
109,463
592,057
701,520
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