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REGISTERED NUMBER: 07258568 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

HOSTED DESKTOP UK LIMITED

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOSTED DESKTOP UK LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A T Burns
T J Roberts
C E Wormald
M Healey





REGISTERED OFFICE: Unit 24 Basepoint Business Centre
Yeoford Way Marsh Barton Trading Estate
Exeter
Devon
EX2 8LB





REGISTERED NUMBER: 07258568 (England and Wales)





AUDITORS: Haines Watts (Western) Limited
Chartered Accountants and Statutory Auditors
3 Southernhay West
Exeter
Devon
EX1 1JG

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 381,400 432,574
Tangible assets 6 351,380 484,469
732,780 917,043

CURRENT ASSETS
Debtors 7 5,098,395 3,447,490
Cash at bank 613,965 1,002,449
5,712,360 4,449,939
CREDITORS
Amounts falling due within one year 8 (1,087,676 ) (1,100,205 )
NET CURRENT ASSETS 4,624,684 3,349,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,357,464

4,266,777

CREDITORS
Amounts falling due after more than one
year

9

(108,911

)

(102,337

)

PROVISIONS FOR LIABILITIES (84,680 ) (117,257 )
NET ASSETS 5,163,873 4,047,183

CAPITAL AND RESERVES
Called up share capital 832 832
Capital redemption reserve 168 168
Retained earnings 5,162,873 4,046,183
5,163,873 4,047,183

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:



M Healey - Director


HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

Hosted Desktop Uk Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal place of business is the registered office.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover
Turnover comprises the fair value of the consideration received, or receivable, for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates, and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured; and
- It is probable that the economic benefits associated with the transaction will flow to the entity.

Goodwill
Goodwill arising on the acquisition of an entity represents the cost of acquisition over the company's interest in the net fair value of identifiable assets, liabilities, and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued at the closing rate at each reporting date.

The goodwill currently shown in the accounts is being amortised over its useful life of 12 years. The directors have considered this rate taking into account current and expected churn rates and believe that this rate is reasonable.

Intangible assets
Intangible assets are initially measured at cost, after initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses.

Computer software is being amortised at 33% straight line per annum.

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and impairment losses. Cost includes the purchase of extended warranties on equipment that is integral to the operation of the business. The directors believe that this more fairly reflects the true cost of the equipment as extended warranties are in reality essential. These costs are therefore depreciated over the duration of the warranty, rather than the expenditure being released to the profit and loss account over the duration. Annual profitability is unaffected by this amendment.

The cost of tangible assets includes directly attributable incremental costs incurred in acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life:

Plant and machinery-Straight line over 10 years
Computer equipment-Straight line over 3 years
Fixtures and fittings-20% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is
any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the short of the lease term and their term and their useful lives.

The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

Estimates and judgements
Other than depreciation, amortisation and deferred tax which are already covered above in the accounting policies note the key estimates and judgements included in the financial statements are:
Accruals and prepayments which are based on information available at the time of approval of the financial statements

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 27 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 621,598 21,400 642,998
AMORTISATION
At 1 April 2023 189,024 21,400 210,424
Charge for year 51,174 - 51,174
At 31 March 2024 240,198 21,400 261,598
NET BOOK VALUE
At 31 March 2024 381,400 - 381,400
At 31 March 2023 432,574 - 432,574

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,746,424 13,531 70,662 2,830,617
Additions 146,464 - 5,487 151,951
At 31 March 2024 2,892,888 13,531 76,149 2,982,568
DEPRECIATION
At 1 April 2023 2,275,629 10,182 60,337 2,346,148
Charge for year 274,029 806 10,205 285,040
At 31 March 2024 2,549,658 10,988 70,542 2,631,188
NET BOOK VALUE
At 31 March 2024 343,230 2,543 5,607 351,380
At 31 March 2023 470,795 3,349 10,325 484,469

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210,464 176,117
Amounts owed by group undertakings 4,674,163 3,111,284
Other debtors 213,768 160,089
5,098,395 3,447,490

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 62,816 46,024
Trade creditors 324,126 305,327
Taxation and social security 495,196 315,411
Other creditors 205,538 433,443
1,087,676 1,100,205

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 108,911 102,337

HOSTED DESKTOP UK LIMITED (REGISTERED NUMBER: 07258568)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 62,816 46,024
Between one and five years 108,911 102,337
171,727 148,361

11. SECURED DEBTS

Hire purchase liabilities are secured over the asset to which the liability relates.

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jade Quaintance BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts (Western) Limited

13. CAPITAL COMMITMENTS

As at 31 March 2024 the company is committed to purchasing assets totalling £nil (2023 - £89,501) under hire purchase agreements following the year end.

Post year end the company entered in to a commitment to purchase assets totalling £571,558.

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Within the year fees of £nil (2023 - £15,660) were paid to a company owned by a director.

15. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Icon Bidco Ltd, a company incorporated in England and Wales. Its registered office is Unit 24 Basepoint Business Centre, Yeoford Way, Marsh Barton Trading Estate, Exeter, Devon, EX2 8LB.

The immediate parent is Icon Topco Ltd, a company incorporated in England and Wales. Its registered office is Unit 24 Basepoint Business Centre, Yeoford Way, Marsh Barton Trading Estate, Exeter, Devon, EX2 8LB.

There is no ultimate controlling party.