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Registered number: 08141815









Unifiller Systems UK Limited









Directors' Report and Financial Statements

For the Year Ended 30 September 2024

 
Unifiller Systems UK Limited
 
 
Company Information


Director
M Murphy 




Company secretary
C Ballard



Registered number
08141815



Registered office
C/O DTM Legal LLP
Knight's Court

Weaver Street

Chester

CH1 2BQ




Trading Address
Unit 6
Morris Close

Wellingborough

NN8 6XF






Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

Cheshire

SK1 3GG





 
Unifiller Systems UK Limited
 

Contents



Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 6
Statement of Income and Retained Earnings
 
7
Statement of Financial Position
 
8
Notes to the Financial Statements
 
9 - 14


 
Unifiller Systems UK Limited
 
 
 
Directors' Report
For the Year Ended 30 September 2024

The Directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are 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 Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments 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 Directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Directors

The Directors who served during the year were:

C Ballard (resigned 18 February 2025)
M Murphy 

Other matter
The Directors acknowledge that the company took exemption from audit in the prior year under the provisions of Section 477 of the Companies Act 2006 when it was not eligible to do so. As noted in the audit report, the comparative figures have therefore been qualified by the Company's auditors, whom were appointed in the year. 
Furthermore, adjustments have been made to the company's comparative figures to correct errors from the prior period. Please see note 8 of the financial statements for further information.

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
Unifiller Systems UK Limited
 
 
 
Directors' Report (continued)
For the Year Ended 30 September 2024

Auditors

The auditors, Hurst Accountants Limited, were appointed in the year and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M Murphy
Director

Date: 25 June 2025

Page 2

 
Unifiller Systems UK Limited
 
 
 
Independent Auditors' Report to the Members of Unifiller Systems UK Limited
 

Qualified Opinion


We have audited the financial statements of Unifiller Systems UK Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes, including a summary of significant accounting policiesThe 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).


Qualified opinion on opening balances
The opening balances have not been subject to audit. The company took the exemption from audit under Section 477 of the Companies Act 2006 but was not permitted to do so. 
We have not been able to gain sufficient evidence to confirm that the opening balances were appropriate. We have identified a number of entries made in the prior year financial statements that do not qualify for recognition under United Kingdom Generally Accepted Accounting Practice, and have reversed these entries as a result. This also impacted the company's tax liability which has been updated accordingly. Please see note 8 for further information. 
Except for the above matter, in our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 September 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 qualified 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 United Kingdom, including the Financial Reporting Council'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 Directors' 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 Directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
Unifiller Systems UK Limited
 
 
 
Independent Auditors' Report to the Members of Unifiller Systems UK Limited (continued)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the Directors are 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 Directors determine is 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 Directors are 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 Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
Unifiller Systems UK Limited
 
 
 
Independent Auditors' Report to the Members of Unifiller Systems UK Limited (continued)


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 an Auditors' Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
• The nature of the industry and sector in which the company operates; the control environment and business     performance including key drivers for directors' remuneration, bonus levels and performance targets.
• The outcome of enquiries of local management and parent company management, including whether management    was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge   of any actual, suspected, or alleged fraud. 
• Supporting documentation relating to the Company's policies and procedures for:
    - Identifying, evaluating, and complying with laws and regulations
    - Detecting and responding to the risks of fraud
• The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
• The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the    financial statements and any potential indicators of fraud.
• The legal and regulatory framework in which the Company operates, particularly those laws and regulations which    have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or    which had a fundamental effect on the operations of the Company, including General Data Protection requirements,   and Anti-bribery and Corruption.
Audit response to risks identified
Our procedures to respond to the risks identified included the following:
• Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with    the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
• Discussions with management, including consideration of known or suspected instances of non-compliance with    laws and regulations and fraud.
• Evaluation and testing of the operating effectiveness of management’s controls designed to prevent and detect    irregularities.
• Enquiring of management about any actual and potential litigation and claims.
• Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of    material misstatement due to fraud.
 
Page 5

 
Unifiller Systems UK Limited
 
 
 
Independent Auditors' Report to the Members of Unifiller Systems UK Limited (continued)



We have also considered the risk of fraud through management override of controls by:
• Testing the appropriateness of journal entries and other adjustments;
• Challenging assumptions made by management in their significant accounting estimates, and assessing whether the    judgements made in making accounting estimates are indicative of a potential bias; and
• Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of    business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them.  Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.


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 Auditors' Report.


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 2006Our 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 an Auditors' Report 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.





Anthony Woodings (Senior Statutory Auditor)
for and on behalf of
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG

25 June 2025
Page 6

 
Unifiller Systems UK Limited
 
 
Statement of Income and Retained Earnings
For the Year Ended 30 September 2024

As restated
2024
Unaudited
2023
Note
£
£

  

Turnover
  
2,612,361
1,613,532

Cost of sales
  
(1,603,759)
(906,727)

Gross profit
  
1,008,602
706,805

Distribution costs
  
(438,315)
(291,116)

Administrative expenses
  
(307,794)
(224,046)

Operating profit
  
262,493
191,643

Interest receivable and similar income
  
5,372
-

Profit before tax
  
267,865
191,643

Tax on profit
  
166
(45,004)

Profit after tax
  
268,031
146,639

Retained earnings
  

-  as previously stated
  
1,035,227
840,597

-  correction of a prior period error
 8 
(47,991)
-

At the beginning of the year as restated
  
987,236
840,597

  

Profit for the year
  
268,031
146,639

Retained earnings at the end of the year
  
1,255,267
987,236
The notes on pages 9 to 14 form part of these financial statements.

Page 7

 
Unifiller Systems UK Limited
Registered number: 08141815

Statement of Financial Position
As at 30 September 2024

As restated
2024
Unaudited
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,142
50,047

Current assets
  

Stocks
  
662,742
660,720

Debtors: amounts falling due within one year
 5 
796,127
490,027

Cash at bank and in hand
 6 
345,235
193,553

  
1,804,104
1,344,300

Creditors: amounts falling due within one year
 7 
(582,269)
(396,235)

Net current assets
  
 
 
1,221,835
 
 
948,065

Total assets less current liabilities
  
1,265,977
998,112

Provisions for liabilities
  

Deferred tax
  
(10,709)
(10,875)

  
 
 
(10,709)
 
 
(10,875)

Net assets
  
1,255,268
987,237


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,255,267
987,236

  
1,255,268
987,237


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 were approved and authorised for issue by the board and were signed on its behalf on 25 June 2025.




M Murphy
Director

The notes on pages 9 to 14 form part of these financial statements.

Page 8

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

1.


General information

The company is limited by members' share capital and incorporated in the United Kingdom. The address of the company's registered office is Knight's Court, Weaver Street, Chester, England, CH1 2BQ, and the address of and its' principal place of business is Unit 6 Morris Close, Wellingborough, NN8 6XF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Foreign currency translation

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 9

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.3

Revenue

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Current and deferred taxation

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 reporting 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 reporting 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 reporting date.


Page 10

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance

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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 11

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 9).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 October 2023
40,759
45,887
86,646


Additions
2,157
-
2,157



At 30 September 2024

42,916
45,887
88,803



Depreciation


At 1 October 2023
18,651
17,948
36,599


Charge for the year on owned assets
4,436
3,626
8,062



At 30 September 2024

23,087
21,574
44,661



Net book value



At 30 September 2024
19,829
24,313
44,142



At 30 September 2023
22,108
27,939
50,047

Comparative figures have been adjusted as described in note 8.

Page 12

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

5.


Debtors

As restated
2024
Unaudited
2023
£
£


Trade debtors
213,868
222,497

Amounts owed by group undertakings
533,702
152,348

Other debtors
21,000
31,635

Prepayments and accrued income
27,557
83,547

796,127
490,027


Please see note 8 for further details of adjustments made to comparative figures.


6.


Cash and cash equivalents

2024
Unaudited
2023
£
£

Cash at bank and in hand
345,235
193,553



7.


Creditors: Amounts falling due within one year

As restated
2024
Unaudited
2023
£
£

Trade creditors
7,342
7,319

Corporation tax
27,288
40,819

Other taxation and social security
129,938
59,694

Other creditors
58,133
100,932

Accruals and deferred income
359,568
187,471

582,269
396,235


Page 13

 
Unifiller Systems UK Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

8.


Prior year adjustment

During the year, it was noted that the prior year accounts had contained the following entries that do not qualify for recognition under UK GAAP:
 -  Increases to reserves of £139,360, which reflected an increase to intangible fixed assets of £9,717,     tangible fixed assets of £11,551, and increases to stock of £118,092.
 -  £118,657 of the above was subsequently charged to the Statement of comprehensive income.
 - A reclassification from prepayments to intangible fixed assets of £15,057.
The reversal of these items led to the following:
 - An increase to profit of £118,657;
 - A corresponding increase to corporation tax charge of £27,288;
 - A reduction in intangible fixed assets of £24,774;
 - A reduction in tangible fixed assets of £10,985;
 - An increase in current assets of £15,057;
 - An increase in current liabilities of £27,288
 - A reduction of retained earnings by £47,991, being a combination of the reduction in reserves of     £139,360, an increase to profit of £118,657, and additional corporation tax charges of £27,288.


9.


Controlling party

The company's immediate parent company is Unifiller Systems ULC, a company incorporated in Canada.
The ultimate parent company is considered to be Hillenbrand Inc., a company listed on the New York Stock Exchange and incorporated in Batesville, Indiana, United States of America. The group headed by this company is the largest group within which the results of the company are consolidated. The registered address of Hillenbrand Inc. is 1 Batesville Blvd, Batesville, IN 47006, United States of America.

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