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REGISTERED NUMBER: 07206707 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

INETUM DIGITAL SERVICES UK LIMITED

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


INETUM DIGITAL SERVICES UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Ms K Quashie





REGISTERED OFFICE: No. 1 Poultry
London
EC2R 8EJ





REGISTERED NUMBER: 07206707 (England and Wales)





AUDITORS: CBHC (Audit) Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The director presents her strategic report for the year ended 31 March 2024.

Inetum Digital Services UK Limited (hereafter referred to as 'the Company') is a full-service provider of enterprise service management technology, delivering professional services, managed services, license resell and specialist technology solutions.

Our clients are a mix of high-growth digital organisations to large established enterprises across all market sectors and segments, looking to transform their service management processes and operations, through automation and best of breed technology.

We partner with our clients to provide sustainable, long-term value.

Since November 2023, we are part of Inetum Group. Being part of Inetum Group allow us to bring to our customers an enlarged portfolio of expertise in the domain of digital transformation and support from nearshore professional services located in Bulgaria, Portugal or Africa which complements our historical operational basis.

REVIEW OF BUSINESS
Business Review
Inetum Digital Services UK Limited had a solid performance in the year ending 31 March 2024, the Company continuing to strengthen its position as the leading independent ServiceNow partner in the UK.

At year end, Inetum had an operational presence in the United Kingdom and provided services and support to organisations globally.

Revenue Analysis

Revenue for the period rose by 15.5% to £23.7m, operating profit eroded due to investment in Sales and Delivery aiming at supporting future development of the company, which was compensated by the impact of deferred taxation. The Company ends the year with a comfortable cash and bank balance of £891,885 (FY23: £5,726,467).

PRINCIPAL RISKS AND UNCERTAINTIES
Risks and threats relate to operational and market issues such as reputational damage or customer attrition, in a context marked by the integration into Inetum Group organisation. The director manages risks in a variety of ways including contracts, insurance, internal controls and where necessary, external professional advice is sought.

The director believes that even though the ServiceNow market is a strong but mature one in the UK region, the Company needs to transform its operational model in order to develop more added-value offers related to ServiceNow technology, and to diversify to grow the whole Inetum Group's portfolio in the region. We remain very focused on our medium to long term growth strategy.

ON BEHALF OF THE BOARD:





Ms K Quashie - Director


31 March 2025

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024


The director presents her report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
An interim dividend of £2054 per share on the Ordinary A 0.01 shares was paid on . The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary B 0.01 shares. The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary C 0.01 shares. The director recommends that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 31 March 2024 will be £ 821,650 .

DIRECTORS
The directors who have held office during the period from 1 April 2023 to the date of this report are as follows:

P C Donnelly - resigned 28 November 2023
M J Molloy - resigned 28 November 2023

Ms K Quashie was appointed as a director after 31 March 2024 but prior to the date of this report.

M C Glock and S J Mamelok ceased to be directors after 31 March 2024 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless she is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, CBHC (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ms K Quashie - Director


31 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INETUM DIGITAL SERVICES UK LIMITED


Opinion
We have audited the financial statements of Inetum Digital Services UK Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INETUM DIGITAL SERVICES UK LIMITED


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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INETUM DIGITAL SERVICES UK LIMITED


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The reporting framework relevant to the company is FRS 102 and the Companies Act 2006.

The company is required to follow employment legislation and Health and Safety Regulations. The company has sufficient policies and procedures in place to ensure that these laws are complied with.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations above. We made enquiries of those charged with compliance to determine if there were any issues arising. We collaborated our findings by reviewing correspondence with Companies House and reviewing any other legal documentation made available to us. Nothing was noted that contradicted explanations given to us.

Financial Statement disclosures were tested for completeness and nothing was noted to be omitted.

We assessed the risks of material misstatement in respect of fraud as being low due to the nature of the business. We made enquiries relating to fraud with the company's management. We considered the risk of fraud through management override and, in response, we incorporated testing of manual journals throughout the year and reviewed any unusual transactions throughout our audit,

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INETUM DIGITAL SERVICES UK LIMITED


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 a Report of the Auditors 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.




P Sartain (Senior Statutory Auditor)
for and on behalf of CBHC (Audit) Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

1 April 2025

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   

TURNOVER 23,746,862 20,562,934

Cost of sales 12,237,216 11,102,999
GROSS PROFIT 11,509,646 9,459,935

Administrative expenses 11,564,412 8,087,723
OPERATING (LOSS)/PROFIT 4 (54,766 ) 1,372,212

Income from shares in group undertakings 564,993 -
Interest receivable and similar income 1,365 5,487
566,358 5,487
PROFIT BEFORE TAXATION 511,592 1,377,699

Tax on profit 5 (1,479,202 ) 268,069
PROFIT FOR THE FINANCIAL YEAR 1,990,794 1,109,630

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Notes £    £   

PROFIT FOR THE YEAR 1,990,794 1,109,630


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,990,794

1,109,630

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 64,610 80,818
Tangible assets 8 35,776 57,857
Investments 9 1,147,914 85
1,248,300 138,760

CURRENT ASSETS
Debtors 10 7,755,828 12,017,816
Cash at bank 891,885 5,726,467
8,647,713 17,744,283
CREDITORS
Amounts falling due within one year 11 4,114,127 13,268,304
NET CURRENT ASSETS 4,533,586 4,475,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,781,886

4,614,739

PROVISIONS FOR LIABILITIES 13 8,996 10,993
NET ASSETS 5,772,890 4,603,746

CAPITAL AND RESERVES
Called up share capital 14 400 400
Retained earnings 15 5,772,490 4,603,346
SHAREHOLDERS' FUNDS 5,772,890 4,603,746

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





Ms K Quashie - Director


INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 400 3,763,716 3,764,116

Changes in equity
Dividends - (270,000 ) (270,000 )
Total comprehensive income - 1,109,630 1,109,630
Balance at 31 March 2023 400 4,603,346 4,603,746

Changes in equity
Dividends - (821,650 ) (821,650 )
Total comprehensive income - 1,990,794 1,990,794
Balance at 31 March 2024 400 5,772,490 5,772,890

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (3,277,758 ) 1,928,084
Tax paid (134,144 ) (273,217 )
Net cash from operating activities (3,411,902 ) 1,654,867

Cash flows from investing activities
Purchase of intangible fixed assets - (80,818 )
Purchase of tangible fixed assets (21,792 ) (65,417 )
Purchase of fixed asset investments (1,147,829 ) -
Sale of tangible fixed assets 1,815 -
Interest received 1,365 5,487
Dividends received 564,993 -
Net cash from investing activities (601,448 ) (140,748 )

Cash flows from financing activities
Amount introduced by directors 418 -
Equity dividends paid (821,650 ) (270,000 )
Net cash from financing activities (821,232 ) (270,000 )

(Decrease)/increase in cash and cash equivalents (4,834,582 ) 1,244,119
Cash and cash equivalents at beginning of
year

2

5,726,467

4,482,348

Cash and cash equivalents at end of year 2 891,885 5,726,467

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/3/24 31/3/23
£    £   
Profit before taxation 511,592 1,377,699
Depreciation charges 55,827 22,338
Intercompany (3,144,532 ) (5,335 )
Finance income (566,358 ) (5,487 )
(3,143,471 ) 1,389,215
Decrease in trade and other debtors 8,764,184 2,455,148
Decrease in trade and other creditors (8,898,471 ) (1,916,279 )
Cash generated from operations (3,277,758 ) 1,928,084

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 891,885 5,726,467
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 5,726,467 4,482,348


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank 5,726,467 (4,834,582 ) 891,885
5,726,467 (4,834,582 ) 891,885
Total 5,726,467 (4,834,582 ) 891,885

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Inetum Digital Services 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS
31/3/24 31/3/23
£    £   
Wages and salaries 8,098,353 5,791,147
Social security costs 997,546 716,866
Other pension costs 246,481 84,616
9,342,380 6,592,629

The average number of employees during the year was as follows:
31/3/24 31/3/23

Directors 3 4
Productive and administrative employees 115 82
118 86

31/3/24 31/3/23
£ £
Director's remuneration 478,155 413,122

Information regarding the highest paid director for the year ended 31 March 2024 is as follows:

31/3/24 31/3/23
£ £
Emoluments etc 180,498 195,751

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

31/3/24 31/3/23
£    £   
Hire of plant and machinery 207,981 180,167
Other operating leases 28,108 53,660
Depreciation - owned assets 42,058 22,338
Development costs amortisation 16,208 -
Auditors remuneration 27,250 8,000
Foreign exchange differences 2,136 (49,654 )

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
31/3/24 31/3/23
£    £   
Current tax:
UK corporation tax (119,541 ) 259,884

Deferred taxation (1,359,661 ) 8,185
Tax on profit (1,479,202 ) 268,069

The deferred tax asset is the result of carried forward tax losses at the current rate of corporation tax. This balance has been recognised within debtors.

6. DIVIDENDS
31/3/24 31/3/23
£    £   
Ordinary A shares of 0.01 each
Interim 821,650 270,000

7. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 April 2023 80,818 - 80,818
Reclassification/transfer (80,818 ) 80,818 -
At 31 March 2024 - 80,818 80,818
AMORTISATION
Amortisation for year - 16,208 16,208
At 31 March 2024 - 16,208 16,208
NET BOOK VALUE
At 31 March 2024 - 64,610 64,610
At 31 March 2023 80,818 - 80,818

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. TANGIBLE FIXED ASSETS
Computer
Equipment
£   
COST
At 1 April 2023 165,263
Additions 21,792
Disposals (4,255 )
At 31 March 2024 182,800
DEPRECIATION
At 1 April 2023 107,406
Charge for year 42,058
Eliminated on disposal (2,440 )
At 31 March 2024 147,024
NET BOOK VALUE
At 31 March 2024 35,776
At 31 March 2023 57,857

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 85
Additions 1,147,829
At 31 March 2024 1,147,914
NET BOOK VALUE
At 31 March 2024 1,147,914
At 31 March 2023 85

Fixed Asset Investments are held at consideration (cost) and are detailed below:

2024 2023
£    £   
Shares held in UDC Private Limited 1,147,829 NIL
Shares held in Unifii Consultancy (Ireland) 85 85

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,074,198 2,201,130
Net Wages Due 203 -
Amounts owed by group undertakings 3,227,882 83,350
Other debtors 49,905 50,175
Taxation 45,842 -
Deferred Tax Asset 1,357,664 -
Prepayments and accrued income 2,000,134 9,683,161
7,755,828 12,017,816

The Deferred Taxation Asset is the result of carried forward tax losses at the current corporation tax rate

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 499,391 1,416,705
Taxation - 256,124
Social security and other taxes 250,016 200,676
VAT 241,037 438,035
Other creditors 56,433 37,683
Directors' current accounts 418 -
Income in advance 2,481,552 10,129,082
Accrued expenses 585,280 789,999
4,114,127 13,268,304

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/24 31/3/23
£    £   
Within one year 27,036 15,398
Between one and five years 12,590 20,409
39,626 35,807

13. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred taxation 8,996 10,993

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 10,993
Provided during year (1,997 )
Balance at 31 March 2024 8,996

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
10,000 Ordinary A 0.01 100 100
10,000 Ordinary B 0.01 100 100
20,000 Ordinary C 0.01 200 200
400 400

15. RESERVES
Retained
earnings
£   

At 1 April 2023 4,603,346
Profit for the year 1,990,794
Dividends (821,650 )
At 31 March 2024 5,772,490

16. ULTIMATE PARENT COMPANY

Bain Capital, LP (incorporated in United States of America ) is regarded by the director as being the company's ultimate parent company.

The Company's immediate parent undertaking is Unifii Global Holdings Limited, a company incorporated in the United Kingdom.

The group of undertakings into which the results of the company are consolidated is Unifii Global Holdings Limited.

The registered office address of Unifii Global Holdings Limited is No. 1 Poultry, London, United Kingdom, EC2R 8EJ. The consolidated financial statements are available from Companies House.

INETUM DIGITAL SERVICES UK LIMITED (REGISTERED NUMBER: 07206707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


17. RELATED PARTY DISCLOSURES

Under FRS 102 paragraph 33.1A, Inetum Digital Services UK Limited is exempt from disclosing related party transactions as it is a wholly owned subsidiary with publicly available consolidated group financial statements.

During the period, directors of the company exercised Options in a Group EMI Share Option Scheme the total value of which was £5,348,268.