Unity Network Technologies Ltd
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Company registration number 10344579
Date
Approval date of the accounts by the board 07/03/2025
Date
Date of signing on the audit/accountants report 07/03/2025
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Simon Scotchbrook
Or, name of secretary
Name of director signing balance sheet Simon Scotchbrook
Address of registered office:
Address line 1 Brunel House
Address line 2 Brunel Road
City or town Middlesbrough
County or region
Postcode TS6 6JA
Name of senior statutory auditor
Name of auditors/accountants Brunel & Associates
Type of firm (eg Chartered Accountants) Accountants
Address of auditors/accountants
Address line 1 Brunel House
Address line 2 Brunel Road
City or town Middlesbrough
County or region
Postcode TS6 6JA
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 3 -
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
10344579
Unity Network Technologies Ltd
Filleted Accounts
31 December 2024
Unity Network Technologies Ltd
Profit and Loss Account
For The Year Ended 31 December 2024
2024 2023
£ £
Turnover 1,697,304 135,118
Cost of sales (1,405,908) (65,259)
Gross profit 291,396 69,859
Administrative expenses (216,373) (58,766)
Operating profit 75,023 11,093
Interest payable (3,169) (1,802)
Profit before taxation 71,854 9,291
Tax on profit 436 -
Profit for the financial year 72,290 9,291
Unity Network Technologies Ltd
Registered number: 10344579
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 2 546,650 509,232
Tangible assets 3 503,569 471,856
Investments 4 300,000 -
1,350,219 981,088
Current assets
Stocks 435,445 286
Work in progress 1,186 900
Debtors 5 135,185 19,307
571,816 20,493
Creditors: amounts falling due within one year 6 (218,099) (77,461)
Net current assets/(liabilities) 353,717 (56,968)
Total assets less current liabilities 1,703,936 924,120
Creditors: amounts falling due after more than one year 7 (55,438) (39,300)
Net assets 1,648,498 884,820
Capital and reserves
Called up share capital 100,000 50,000
Mezzanine Loan 1,047,008 739,127
Merger Reserve 333,507 -
Profit and loss account 167,983 95,693
Shareholders' funds 1,648,498 884,820
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon Scotchbrook
Director
Approved by the board on 7 March 2025
Unity Network Technologies Ltd
Notes to the Accounts
For The Year Ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible Fixed Assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. All intangible assets are considered to have a finite useful life, if a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation of the company's intangible assets is to be incurred so as to write off the cost, less any estimated residual value over their useful life.
Research and Development
Intangible assets included within the accounts represent costs that have been generated through Research and Development activities which have reached the development phase of a project, and only if the asset can demonstrate that it will generate probable future economic benefits for the company. The capitalised development costs will be subsequently amortised on a straight-line basis over the projects deemed economic life.
Tangible Fixed Assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Leased Assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Intangible Fixed Assets £
Development costs:
Cost
At 1 January 2024 512,790
Additions 41,576
At 31 December 2024 554,366
Amortisation
At 1 January 2024 3,558
Provided during the year 4,158
At 31 December 2024 7,716
Net book value
At 31 December 2024 546,650
At 31 December 2023 509,232
3 Tangible Fixed Assets
Plant and machinery etc
£
Cost
At 1 January 2024 553,105
Additions 35,111
At 31 December 2024 588,216
Depreciation
At 1 January 2024 81,249
Charge for the year 3,398
At 31 December 2024 84,647
Net book value
At 31 December 2024 503,569
At 31 December 2023 471,856
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 300,000
At 31 December 2024 300,000
5 Debtors 2024 2023
£ £
Trade debtors 134,910 19,213
Other debtors 275 94
135,185 19,307
6 Creditors: Amounts Falling Due Within One Year 2024 2023
£ £
Bank loans and overdrafts 17,440 9,393
Trade creditors 189,892 71,739
Taxation and social security costs 3,118 (3,671)
Other creditors 7,649 -
218,099 77,461
7 Creditors: Amounts Falling Due After One Year 2024 2023
£ £
Bank loans 55,438 39,300
8 Ultimate Parent Company
Unity World Limited is a private company limited by shares and incorporated in England. Its registered office is:
Brunel House
Brunel Road
Middlesbrough
TS6 6JA
9 Other Information
Unity Network Technologies Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Brunel House
Brunel Road
Middlesbrough
TS6 6JA
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