Registered number
11578922
Unity Digital Technologies Ltd
Filleted Accounts
31 December 2024
Unity Digital Technologies Ltd
Profit and Loss Account
For The Year Ended 31 December 2024
2024 2023
£ £
Turnover 381,093 37,067
Cost of sales (127,654) (336)
Gross profit 253,439 36,731
Administrative expenses (193,071) (24,056)
Operating profit 60,368 12,675
Interest payable (34,678) (9,245)
Profit before taxation 25,690 3,430
Tax on profit 27,284 16,797
Profit for the financial year 52,974 20,227
Unity Digital Technologies Ltd
Registered number: 11578922
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,409,669 662,388
Tangible assets 4 - 205
1,409,669 662,593
Current assets
Stocks - 5,270
Debtors 5 45,279 4,325
Cash at bank and in hand 10,663 59,458
55,942 69,053
Creditors: amounts falling due within one year 6 (165,326) (129,726)
Net current liabilities (109,384) (60,673)
Total assets less current liabilities 1,300,285 601,920
Creditors: amounts falling due after more than one year 7 (290,749) (185,145)
Net assets 1,009,536 416,775
Capital and reserves
Called up share capital 150,000 100,000
Mezzanine Loan 544,184 148,617
Merger Reserve 94,220 -
Profit and loss account 221,132 168,158
Shareholders' funds 1,009,536 416,775
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 Digital 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 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Intangible Fixed Assets £
Development Costs:
Cost
At 1 January 2024 662,388
Additions 761,299
At 31 December 2024 1,423,687
Amortisation
Provided during the year 14,018
At 31 December 2024 14,018
Net Book Value
At 31 December 2024 1,409,669
At 31 December 2023 662,388
Intangible assets are to be amortised in equal instalments over its estimated economic life.
4 Tangible Fixed Assets
Plant and machinery etc
£
Cost
At 1 January 2024 2,362
At 31 December 2024 2,362
Depreciation
At 1 January 2024 2,157
Charge for the year 205
At 31 December 2024 2,362
Net Book Value
At 31 December 2024 -
At 31 December 2023 205
5 Debtors 2024 2023
£ £
Trade debtors 45,279 4,231
Other debtors - 94
45,279 4,325
6 Creditors: Amounts Falling Due Within One year 2024 2023
£ £
Bank loans and overdrafts 71,497 28,244
Trade creditors 94,631 103,310
Taxation and social security costs (10,840) (6,181)
Other creditors 10,038 4,353
165,326 129,726
7 Creditors: Amounts Falling Due After One Year 2024 2023
£ £
Bank loans 290,749 185,145
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 Digital 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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