Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302023-07-01falsetruetruetruetruetrueThe Company is engaged in the supply and development of software and computer consultancy services to Wisetech Global Limited.false131129truefalse 06741856 2023-07-01 2024-06-30 06741856 2022-07-01 2023-06-30 06741856 2024-06-30 06741856 2023-06-30 06741856 2022-07-01 06741856 1 2023-07-01 2024-06-30 06741856 1 2022-07-01 2023-06-30 06741856 2 2023-07-01 2024-06-30 06741856 2 2022-07-01 2023-06-30 06741856 5 2023-07-01 2024-06-30 06741856 5 2022-07-01 2023-06-30 06741856 1 2023-07-01 2024-06-30 06741856 e:CompanySecretary1 2023-07-01 2024-06-30 06741856 e:Director1 2023-07-01 2024-06-30 06741856 e:Director2 2023-07-01 2024-06-30 06741856 e:RegisteredOffice 2023-07-01 2024-06-30 06741856 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 06741856 d:FurnitureFittings 2023-07-01 2024-06-30 06741856 d:FurnitureFittings 2024-06-30 06741856 d:FurnitureFittings 2023-06-30 06741856 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2022-07-01 06741856 d:OtherMiscellaneousReserve 1 2022-07-01 2023-06-30 06741856 d:MergerReserve 2023-07-01 2024-06-30 06741856 d:MergerReserve 2024-06-30 06741856 d:MergerReserve 2023-06-30 06741856 d:MergerReserve 2022-07-01 06741856 d:MergerReserve 1 2022-07-01 2023-06-30 06741856 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 06741856 d:RetainedEarningsAccumulatedLosses 2024-06-30 06741856 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 06741856 d:RetainedEarningsAccumulatedLosses 2023-06-30 06741856 d:RetainedEarningsAccumulatedLosses 2022-07-01 06741856 d:RetainedEarningsAccumulatedLosses 1 2022-07-01 2023-06-30 06741856 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 06741856 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 06741856 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 06741856 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 06741856 e:OrdinaryShareClass1 2023-07-01 2024-06-30 06741856 e:OrdinaryShareClass1 2024-06-30 06741856 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Registered number: 06741856










WISETECH GLOBAL (UK) LTD.










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
WISETECH GLOBAL (UK) LTD.
 
 
COMPANY INFORMATION


Directors
Andrew Cartledge 
Stuart Mann 




Company secretary
Maree Mcdonald Isaacs



Registered number
06741856



Registered office
71 Queen Victoria Street

London

EC4V 4BE




Independent auditor
MHA

The Pinnacle

150 Midsummer Boulevard

Milton Keynes

Buckinghamshire

MK9 1LZ





 
WISETECH GLOBAL (UK) LTD.
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 8
Statement of Comprehensive Income
 
9
Balance Sheet
 
10
Statement of Changes in Equity
 
11
Notes to the Financial Statements
 
12 - 32


 
WISETECH GLOBAL (UK) LTD.
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Principal activity
 
The Company is principally engaged as an invoicing agent for the ultimate parent company, WiseTech Global
Limited, which provides software to the logistics services industry globally.

Organisation review
 
WiseTech Global (UK) Ltd is a subsidiary of WiseTech Global (Trading) Limited. The Company has 2 Directors, one resides in Australia and the other resides in the United Kingdom. The sales and administration teams are based in London, United Kingdom.
Strategic and trading review
There has been no change in the business model from previous periods. The Company continues to support its ultimate parent company, WiseTech Global Limited, and gets reimbursed through transfer pricing arrangement with the Group company.

Principal risks and uncertainties
 
The Company's principal risks and uncertainties are as follows:
1) Opportunities to increase business due to additional modifications and increased support hours as work patterns evolve to Hybrid models (a mixture of home and office working).
These impacts will not have major impact on the Company as it has ongoing support from the ultimate parent company. The board regularly reviews the financial requirements of the Company and the risks associated therewith. 
The Company’s operations are primarily financed through transfer pricing agreements with the ultimate parent company. The Company does not use complicated financial instruments for trading purposes.
Employment matters
We have continued to keep employees informed about matters relevant to them and appreciate their continued efforts and loyalty which the individuals have dedicated to the Company. We remain an equal opportunities employer.
Environmental matters
The business understands its environmental responsibilities and continues to work on effective steps to minimise the impact it places on the environment.

Financial key performance indicators
 
Turnover has increased by £4,390,924 (23.6%) from £18,571,842 in 2023 to £22,962,766 in 2024 with gross profit increasing by £2,842,493 (19.2%) from £14,807,123 to £17,649,616, respectively.
Gross margin achieved was 76.8% for 2024 and 79.7% in 2023.

Other key performance indicators
 
Average employee numbers have increased from 129 to 131.

Page 1

 
WISETECH GLOBAL (UK) LTD.
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024


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



................................................
Andrew Cartledge
Director

Date: 13 August 2025

Page 2

 
WISETECH GLOBAL (UK) LTD.
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

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

Results and dividends

The profit for the year, after taxation, amounted to £7,068,640 (2023 - £6,015,824).

The Directors have not recommended a dividend (2023: £nil).

Directors

The Directors who served during the year were:

Andrew Cartledge 
Stuart Mann 

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic Report, 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;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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.

Future developments

Future developments have been included within the Strategic report. 

Page 3

 
WISETECH GLOBAL (UK) LTD.
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Disclosure of information to auditor

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 auditor is 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 auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. 

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





................................................
Andrew Cartledge
Director

Date: 13 August 2025

Page 4

 
WISETECH GLOBAL (UK) LTD.
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WISETECH GLOBAL (UK) LTD.
 

Opinion


We have audited the financial statements of WiseTech Global (UK) Ltd (the 'Company') for the year ended 30 June 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 June 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 Auditor's 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 5

 
WISETECH GLOBAL (UK) LTD.
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WISETECH GLOBAL (UK) LTD. (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have 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 Strategic Report or 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.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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 6

 
WISETECH GLOBAL (UK) LTD.
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WISETECH GLOBAL (UK) LTD. (CONTINUED)


Auditor's 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 Auditor's 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:
Enquiry of management around and potential litigation claims;
• Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with       laws and regulations
• Performing audit work over the risk of management override of controls, including testing of journals    entries and other adjustments for appropriateness, evaluating the business rationale of significant     transactions  outside the normal course of business and reviewing accounting estimates for bias;
• Reviewing minutes of meetings of those charged with governance
• Reviewing financial statement disclosures and testing to support documentation to assess compliance    with applicable laws and regulations.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading 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 instances 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 Auditor's Report.


Page 7

 
WISETECH GLOBAL (UK) LTD.
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WISETECH GLOBAL (UK) LTD. (CONTINUED)


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 Auditor's 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.





Simon Knibbs MA FCA (Senior Statutory Auditor)
for and on behalf of
MHA
Statutory Auditors
Milton Keynes, United Kingdom

13 August 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
Page 8

 
WISETECH GLOBAL (UK) LTD.
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Note
£
£

  

Turnover
 4 
22,962,766
18,571,842

Cost of sales
  
(5,313,150)
(3,764,719)

Gross profit
  
17,649,616
14,807,123

Administrative expenses
  
(10,006,647)
(8,259,182)

Operating profit
  
7,642,969
6,547,941

Income from fixed assets investments
 7 
1,338,000
-

Interest receivable and similar income
 8 
857,762
188,364

Interest payable and similar expenses
 9 
(8,755)
(2,983)

Profit before tax
  
9,829,976
6,733,322

Tax on profit
 10 
(2,761,336)
(717,498)

Profit for the financial year
  
7,068,640
6,015,824

Other comprehensive income for the year
  

Revaluation of hedged receivable
  
-
(2,815,752)

Other comprehensive income for the year
  
-
(2,815,752)

Total comprehensive income for the year
  
7,068,640
3,200,072

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 12 to 32 form part of these financial statements.

Page 9

 
WISETECH GLOBAL (UK) LTD.
REGISTERED NUMBER: 06741856

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 11 
9,444,349
7,298,733

Tangible assets
 12 
167,595
330,902

Investments
 13 
39,248,178
39,248,052

  
48,860,122
46,877,687

Current assets
  

Debtors: amounts falling due within one year
 14 
30,002,470
6,609,730

Cash at bank and in hand
 15 
2,404,099
15,072,644

  
32,406,569
21,682,374

Creditors: amounts falling due within one year
 16 
(10,472,105)
(5,246,702)

Net current assets
  
 
 
21,934,464
 
 
16,435,672

Total assets less current liabilities
  
70,794,586
63,313,359

Provisions for liabilities
  

Deferred tax
 17 
(481,894)
(69,307)

Net assets
  
70,312,692
63,244,052


Capital and reserves
  

Called up share capital 
 18 
11,654
11,654

Share premium account
 19 
1,193,186
1,193,186

Capital contribution reserve
 19 
45,092,280
45,092,280

Other reserves
 19 
(2,054,083)
(2,054,083)

Merger reserve
 19 
(340,027)
(340,027)

Profit and loss account
 19 
26,409,682
19,341,042

  
70,312,692
63,244,052


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Andrew Cartledge
Director

Date: 13 August 2025

The notes on pages 12 to 32 form part of these financial statements.

Page 10
 

 
WISETECH GLOBAL (UK) LTD.


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024



Called up share capital
Share premium account
Capital contribution reserve
Other reserves
Common control reserve
Profit and loss account
Total equity


£
£
£
£
£
£
£



At 1 July 2022
11,654
1,193,186
45,092,280
761,669
(340,027)
13,325,218
60,043,980





Profit for the year
-
-
-
-
-
6,015,824
6,015,824


Other movements
-
-
-
(2,815,752)
-
-
(2,815,752)





At 1 July 2023
11,654
1,193,186
45,092,280
(2,054,083)
(340,027)
19,341,042
63,244,052





Profit for the year
-
-
-
-
-
7,068,640
7,068,640



At 30 June 2024
11,654
1,193,186
45,092,280
(2,054,083)
(340,027)
26,409,682
70,312,692



The notes on pages 12 to 32 form part of these financial statements.

Page 11
 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

WiseTech Global (UK) Ltd is a private company limited by shares incorporated in England and Wales. The Company's registered office is 71 Queen Victoria Street, London, United Kingdom, EC4V 4BE. The registration number is 06741856. 
The Company is principally engaged as an invoicing agent for the ultimate parent company, WiseTech Global Limited, which provides software to the logistics services industry globally.
The financial statements are presented in GBP. The figures in the financial statements have been rounded to the nearest £1. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of WiseTech Global Limited as at 30 June 2024 and these financial statements may be obtained from www.wisetechglobal.com.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

Page 12

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Going concern

The Directors have reviewed the Company's financial forecasts for the next twelve months. These forecasts include detailed projections of revenue, expenses, and cash flows. Based on this review, the Directors have not identified any issues that would impact the Company's performance or liquidity. The Company is expected to maintain a positive cash flow and meet all its financial obligations as they fall due.
The Directors have received assurances from the Group's senior management that the strategy is to continue operating and trading in the UK through the Company. This strategic direction is supported by the Group's commitment to invest in the Company's growth and development.
Based on the financial forecasts and strategic assurances, the Directors have a reasonable expectation that the Company will continue to operate as a going concern for the foreseeable future. This conclusion is supported by the company's strong financial position and the Group's commitment to its ongoing operations in the UK.

 
2.5

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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 13

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

  
2.8

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.9

Interest income

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

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 14

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Page 15

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.14

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated 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.

 The estimated useful lives range as follows:

Trademarks
-
10 years
Computer software
-
5 and 10 years
Patents
-
5 years

 
2.15

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 16

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.15
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
3 years
Fixtures and fittings
-
3-5 years
Office equipment
-
2-3 years

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.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.17

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.

 
2.18

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.

 
2.19

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.

 
2.20

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.21

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes
Page 17

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.21
Financial instruments (continued)

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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 18

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.21
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 19

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company accounting policies, management have been required to make judgments, estimates and assumptions. These estimates, which relate to the carrying value of assets and liabilities, where not readily available from other sources, are based on underlying assumptions and experience. Actual results may differ from these estimates. These estimates and assumptions are reviewed on an on-going basis.
Useful economic lives of tangible and intangible fixed assets
The Company holds both tangible and intangible assets. Management judgment is required in setting the useful economic lives for each class of tangible and intangible assets.
At 30 June 2024, the net book value of tangible fixed assets were £167,595 (2023: £330,902) after depreciation charge of £259,523 (2023: £168,826).
At 30 June 2024, the net book value of intangible fixed assets were £9,444,349 (2023: £7,298,733) after amortisation charge of £1,223,617 (2023: £1,550,898).
Capitalisation of development costs
The entity capitalises development costs as intangible assets under FRS 102 when criteria such as technical feasibility, intention to complete, ability to use or sell, probable future economic benefits, availability of resources, and reliable measurement are met. The following estimates and judgments are
key to the amount that is capitalised:
Percentage of Time Spent: Estimated based on time tracking and activity logs.
Future Economic Benefits: Assessed based on market conditions and technological advancements.
Reliable Measurement: Ensured through detailed cost tracking and adjustments.
The carrying value of intangible assets at the year end is £9,444,349 (2023: £7,298,733).
Impairment indicators 
The Company's investment in Bolero.net Limited is in excess of the net liabilities of that Company. Management have applied judgment and consider that this does not represent an indicator of impairment by reference to external and internal sources. From an external sources perspective, there are no observable indications that the asset’s market value has declined. No significant adverse changes in the entity’s technological, market, economic or legal environment have occurred, and there has been no material movement in group discount rates during FY2024. Internal sources have also been considered and the net assets for Bolero are positive after elimination of the pre-acquisition funding loan. As the business is performing in line with expectation and net assets have been improving year on year, net assets continuing to have a value lower than that of the investment in subsidiary is expected and therefore not considered an indicator of impairment. The financial performance of the subsidiary is at, or exceeding, the expectations set at acquisition.
On this basis, the carrying value of the investment in Bolero has been maintained and it has not been considered necessary to estimate the recoverable amount as no indicators of impairment are present. 

Page 20

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Turnover

The whole of the turnover is attributable to the principal activity of the company.

All turnover arose within the United Kingdom.


5.


Auditor's remuneration

2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
16,200
15,125

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


6.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
10,315,875
8,137,723

Social security costs
1,554,486
1,074,363

Cost of defined contribution scheme
386,300
273,720

12,256,661
9,485,806


The Directors of the Company are remunerated through other group companies. Consequently, no remuneration has been paid directly by WiseTech Global (UK) Ltd. to its directors during the financial year.

The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
131
129

Page 21

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Income from investments

2024
2023
£
£





Dividends received from unlisted investments
1,338,000
-



8.


Interest receivable

2024
2023
£
£


Interest receivable from group companies
854,253
183,258

Other interest receivable
3,509
5,106

857,762
188,364


9.


Interest payable and similar expenses

2024
2023
£
£


Other interest payable
8,755
2,983


10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
2,561,383
1,175,667

Adjustments in respect of previous periods
(212,634)
38,840


Total current tax
2,348,749
1,214,507

Deferred tax


Origination and reversal of timing differences
(79,970)
37,984

Adjustment in respect of prior periods
492,557
(534,993)

Total deferred tax
412,587
(497,009)


Taxation on profit on ordinary activities
2,761,336
717,498
Page 22

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 20.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
9,829,976
6,733,322


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 20.5%)
2,457,494
1,380,331

Effects of:


Expenses not deductible for tax purposes
404,398
101,348

Utilisation of tax losses
-
(909,860)

Effects of changes in tax rates
-
6,843

Adjustments to tax charge in respect of prior periods
279,923
(496,152)

Adjustment for share based payments vested in the period
-
58,152

Exempt dividend income
(334,500)
-

Taxable foreign exchange gain not recognised in the income statement
-
576,836

Tax losses transferred from a related party
(45,979)
-

Total tax charge for the year
2,761,336
717,498


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 23

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Intangible assets




Patents
Trademarks
Computer software
Total

£
£
£
£



Cost


At 1 July 2023
1,583,108
889,802
8,244,985
10,717,895


Additions
-
-
3,369,233
3,369,233



At 30 June 2024

1,583,108
889,802
11,614,218
14,087,128



Amortisation


At 1 July 2023
1,513,709
426,151
1,479,302
3,419,162


Charge for the year on owned assets
69,399
88,980
1,065,238
1,223,617



At 30 June 2024

1,583,108
515,131
2,544,540
4,642,779



Net book value



At 30 June 2024
-
374,671
9,069,678
9,444,349



At 30 June 2023
69,399
463,651
6,765,683
7,298,733



Page 24

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost 


At 1 July 2023
41,756
624,127
665,883


Additions
-
101,334
101,334


Disposals
(7,242)
-
(7,242)



At 30 June 2024

34,514
725,461
759,975



Depreciation


At 1 July 2023
20,967
314,014
334,981


Charge for the year on owned assets
7,019
252,504
259,523


Disposals
(2,124)
-
(2,124)



At 30 June 2024

25,862
566,518
592,380



Net book value



At 30 June 2024
8,652
158,943
167,595



At 30 June 2023
20,789
310,113
330,902

In the prior year, the tangible fixed assets disclosure included office equipment additions of £270,801 and disposals of £492,058 which was an incorrect presentation. The correct presentation was to present office equipment additions of £379,369 and disposals of £600,626. There is no impact on the carried forward tangible fixed assets balance previously presented in 2023, nor any impact on the previously reported profits of the Company. 

Page 25

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

13.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
39,248,052


Additions
126



At 30 June 2024
39,248,178




In the prior year, the fixed asset investments disclosure included additions of £41,942,099 and disposals of £3,557,861 which was an incorrect presentation. The correct presentation was to present additions of £38,384,238, with no disposals. There is no impact on the carried forward fixed asset investments balance previously presented in 2023, nor any impact on the previously reported profits of the Company. 


Subsidiary undertakings


The following are subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

WiseTech Global (International) Limited
71 Queen Victoria Street, London, United Kingdom, EC4V 4BE
Ordinary
100%
Pierbridge Limited
71 Queen Victoria Street, London, United Kingdom, EC4V 4BE
Ordinary
100%
Bolero.Net Limited
71 Queen Victoria Street, London, United Kingdom, EC4V 4BE
Ordinary
100%
Bolero International Limited *
71 Queen Victoria Street, London, United Kingdom, EC4V 4BE
Ordinary
100%

* Indirect shareholding via Bolero.Net Limited
On 1 July 2022, the Company purchased 100% of the share capital of Bolero.Net Limited for a consideration of $49,397,810 (£.

Page 26

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


Debtors

2024
2023
£
£


Trade debtors
120,742
108,953

Amounts owed by group undertakings
29,482,223
6,280,687

Other debtors
286,726
53,622

Prepayments and accrued income
112,779
166,468

30,002,470
6,609,730


Amounts owed by group undertakings are unsecured and repayable on demand. 


15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,404,099
15,072,644


Page 27

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

16.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
32,125
3,273

Amounts owed to group undertakings
7,317,035
2,635,138

Corporation tax
2,348,750
1,227,365

Other taxation and social security
-
138,580

Other creditors
588,501
858,717

Accruals and deferred income
185,694
383,629

10,472,105
5,246,702


Amounts owed to group undertakings are unsecured and repayable on demand. 

Page 28

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

17.


Deferred taxation




2024
2023


£

£






At beginning of year
69,307
31,324


Charged to profit or loss
412,587
37,983



At end of year
481,894
69,307

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
496,118
69,307

Short term differences arising on outstanding pension contributions
(14,224)
-

481,894
69,307


18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,654 (2023 - 11,654) Ordinary shares of £1.00 each
11,654
11,654


Page 29

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

19.


Reserves

Share premium account

The share premium account represents the amount received by the company over and above the nominal value of its shares, in previous periods.

Capital contribution reserve

The capital contribution reserve represents contributions from the owners of the Company.

Other reserves

The balance consists of £2,054,083 which arose on the adoption of merger accounting for the acquisition of trade and related assets/liabilities of LSI - Sigma Software Limited, an entity under common control.

Common control reserve

The common control reserve represents the difference between the book value of Pierbridge Limited and the consideration of business transferred with the Consolidation Group from Pierbridge Holdings Inc to WiseTech Global (UK) Limited.

Profit and loss account

The profit and loss account contains all previous accumulated profits and losses to date, less distributions.

Page 30

 
WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

20.

Share-based payments

The Company had a number of equity settled share-based payment arrangements that were granted to employees during the financial year 2024 and 2023.
Certain employees hold options to subscribe for shares in the parent of the Company at various prices under a multitude of differing share-based payment arrangements active between 2018 and 2024. All share-based payment expenses are approved by the Founder and CEO of WiseTech Global Limited.
The Company recognises share-based payment expenses based on the fair value of the awarded grants with an equivalent credit recognised as a capital contribution in equity. Under a transfer pricing arrangement with other group entities, the share-based payment expense is recharged to those group entities and the reimbursement of the capital contribution is also recognised as a debit to equity, this results in no movement to equity being recorded in these financial statements.
During the financial year ended 30 June 2024,  75,169 share rights were granted to employees of the Company (2023: 32,333). Share rights allow for the automatic subscription of shares within the Company’s parent as defined within the parent’s Articles of Association and the shares vest evenly over a 3-5 years, depending on the period as defined within the particular share-based payment arrangements, provided the recipients of such grants continue their employment with the Company (Vesting condition). The fair value of the share rights awards was estimated using the "volume weighted average closing price for the last 5 trading days prior to grant offer date".
The share based payment expense during the year was £1,538,750 (2023: £914,243). This has been charged to the profit or loss of the Company.
Further details of the scheme are included in the financial statements of WiseTech Global Limited which can be obtained from wisetechglobal.com.

Method of settlement
Number of instruments
Vesting conditions 
Contractual life of share rights 
Financial year 2024

Equity

205,886

The grants will vest over 3 -5 years of continuous employment with the Company
 
3 -5 years
 
Financial year 2023

Equity

130,717

The grants will vest over 3 -5 years of continuous employment with the Company
 
3 -5 years
 

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WISETECH GLOBAL (UK) LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

21.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £497,461 (2023 - £273,720). Contributions totalling £66,227 (2023 - £63,018) were payable to the fund at the balance sheet date and are included in creditors.


22.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
58,080
128,520

Later than 1 year and not later than 5 years
-
2,835

58,080
131,355


23.


Related party transactions

The Company has applied the exemption from providing disclosure of transactions and balances with wholly owned companies within the Wisetech Global Limited Group.


24.


Post balance sheet events

On 31 March 2025, the Company entered into a deed of release for the intercompany position with a subsidiary, Pierbridge Limited. The aggregate sum of this deed of release was £2,448,850.


25.


Controlling party

The ultimate parent undertaking of the largest and smallest group for which consolidated financial statements are drawn up of which the Company is a member, is WiseTech Global Limited, a company listed on the Australian securities exchange. The registered office of Wisetech Global Limited is 25 Bourke Road, Alexandria, NSW 2015, Australia.

 
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