Company Registration No. 10678659 (England and Wales)
UNHERD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
UNHERD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
UNHERD LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
84,858
16,301
Tangible assets
4
232,559
159,585
317,417
175,886
Current assets
Debtors
5
465,056
334,534
Cash at bank and in hand
133,028
210,916
598,084
545,450
Creditors: amounts falling due within one year
6
(2,527,618)
(10,131,046)
Net current liabilities
(1,929,534)
(9,585,596)
Total assets less current liabilities
(1,612,117)
(9,409,710)
Creditors: amounts falling due after more than one year
7
(10,149,849)
-
0
Net liabilities
(11,761,966)
(9,409,710)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(11,761,967)
(9,409,711)
Total equity
(11,761,966)
(9,409,710)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

UNHERD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr  Frederick Sayers
Director
Company Registration No. 10678659
UNHERD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Unherd Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Old Queen Street, London, England, United Kingdom, SW1H 9HP.

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 as applicable to companies subject to the small companies regime. 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 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.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable futuretrue, this is based on continuing support from the shareholder. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.4
Intangible fixed assets other than goodwill

Development expenditure is capitalised to the extent that the technical and financial feasibility can be demonstrated. App development is still under progress so not amortised during the period.

1.5
Tangible fixed assets

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

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

Leasehold improvements
10 years on straight line
Fixtures, fittings and equipment
25% and 33.33% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with bank.

UNHERD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.8
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 and loans from fellow group companies, 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

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

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to expense on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

UNHERD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees

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

2024
2023
Number
Number
Total
23
22
3
Intangible fixed assets
Website and app development costs
£
Cost
At 1 April 2023
27,158
Additions
76,108
At 31 March 2024
103,266
Amortisation and impairment
At 1 April 2023
10,857
Amortisation charged for the year
7,551
At 31 March 2024
18,408
Carrying amount
At 31 March 2024
84,858
At 31 March 2023
16,301
UNHERD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 April 2023
105,289
100,618
205,907
Additions
37,205
80,730
117,935
At 31 March 2024
142,494
181,348
323,842
Depreciation and impairment
At 1 April 2023
4,352
41,970
46,322
Depreciation charged in the year
12,488
32,473
44,961
At 31 March 2024
16,840
74,443
91,283
Carrying amount
At 31 March 2024
125,654
106,905
232,559
At 31 March 2023
100,937
58,648
159,585
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
87,971
21,186
Amounts owed by group undertakings
147,326
165,188
Other debtors
36,902
34,447
Prepayments
192,857
113,713
465,056
334,534
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
215,050
134,195
Amounts owed to group undertakings
1,552,999
427,466
Taxation and social security
53,326
53,577
Other creditors
129,728
9,159,325
Accruals and deferred income
576,515
356,483
2,527,618
10,131,046
UNHERD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,149,849
-
0
8
Related party transactions

Included in other creditors is an amount of £10,149,849 (2023: £9,149,999) due to the shareholder of the company and it is payable on demand.

 

 

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