Registered number: 04046943
ILLION DIGITAL TECH SOLUTIONS UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
COMPANY INFORMATION
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F Banfield (resigned 30 September 2024)
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J Dodman (resigned 30 September 2024)
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M Holmberg (appointed 30 September 2024, resigned 30 September 2024)
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C Dunne (appointed 30 September 2024)
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P Harrington (appointed 30 September 2024)
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R Bevis (appointed 30 September 2024)
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The Sir John Pearce Building
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Ecovis Wingrave Yeats LLP
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Chartered Accountants & Statutory Auditor
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3rd Floor, Waverley House
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
CONTENTS
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Notes to the Financial Statements
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
REGISTERED NUMBER: 04046943
BALANCE SHEET
AS AT 30 JUNE 2024
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Amounts owed by group companies
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Prepayments and accrued income
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Other taxation and social security
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Accruals and deferred income
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Total assets less current liabilities
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Provisions for liabilities
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
REGISTERED NUMBER: 04046943
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 February 2025.
The notes on pages 3 to 9 form part of these financial statements.
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Illion Digital Tech Solutions UK Limited is a private company, limited by shares, incorporated in England & Wales, registration number 04046943. The registered office is The Sir John Peace Building, Experian Way, Nottingham, England, NG80 1ZZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided. Invoices are raised at the end of every month, covering the services for the whole month to the extent that:
∙the volumes of services offered to customers can be measured reliably
∙the amount of revenue can be measured reliably
∙it is probable that the Company will received the consideration under the contract
Maintenance revenue is invoiced annually in advance and recognised over the period in which the services are provided, in accordance with the stage of completion which is determined based on the period that has elapsed to the total period covered by the invoice.
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the period that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Useful economic lives of tangible assets
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The annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect the current estimates, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the Company's tangible fixed assets.
The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
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The average monthly number of employees, including directors, during the year was 16 (2023 - 16).
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Amounts owed by group companies
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Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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The Company's bank holds a debenture, including a fixed charge over all property; a fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a floating charge over all assets both current and future.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,352 (2023 - £29,732). No contributions were payable to the fund at the balance sheet date (2023 - £Nil).
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ILLION DIGITAL TECH SOLUTIONS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Commitments under operating leases
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At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Related party transactions
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The Company has taken the exemption under FRS102 section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other companies that are wholly owned within the group.
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The parent of the smallest group for which consolidated financial statements are drawn up is Credit Data Solutions Acquisitions Pty Ltd., a Company incorporated in Australia, registered office address is 479 St Kilda Road, Melbourne, VIC 3004, Australia. The ultimate parent company is Credit Data Solutions Pty Ltd.
After the year end, there was a change in ownership and the ultimate controlling party is now Experian Plc.
The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.
The audit report was signed on 5 February 2025 by Jessica Teague (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.
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