Ubiquity Global Services UK Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Ubiquity Global Services UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14193718 . The registered office is Suite 1.03 25 Wilton Road, London, United Kingdom, SW1V 1LW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Taxation

Taxation represents the sum of tax currently payable and deferred tax.

The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

2.5. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	237,173	2,977
Due after more than one year
Other debtors	182,333	79,815

	419,506	82,792

Page 2

Page 3

Ubiquity Global Services UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	7,224	1,346
Other creditors	5,594	5,594
Taxation and social security	10,840	9,111

	23,658	16,051

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	946,327	315,525

7. Share Capital

	2024	2023
	£	£
Called Up Share Capital not Paid	-	100
Called Up Share Capital has been paid up	100	-

Amount of Allotted, Called Up Share Capital	100	100

8. Pension Commitments

The company operates a defined contribution pension scheme for its directors. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1394 were due to the fund. They are included in Other Creditors.

9. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Ubiquity Global Services Inc . Ubiquity Global Services Inc was incorporated in USA. Copies of the group accounts may be obtained from the secretary, 1140 Avenue Of The Americas, Suite 1601, New York, Ny, United States, 10036 .

10. Going Concern

As at 31 December 2024, the company reported a net liability position of £547,208 (2023: £239,654). The directors have assessed the company’s ability to continue as a going concern and have considered various factors, including the company's cash flow forecasts and financial support from its parent company.

The directors acknowledge the significant increase in the net liability position compared to the previous year. However, after making appropriate enquiries and reviewing the company's financial forecasts for a period of at least 12 months from the date of approval of these financial statements, the directors are confident that the company will have adequate resources to meet its obligations as they fall due. The directors believe that appropriate actions have being taken, and therefore, the financial statements have been prepared on the going concern basis.

Page 3

Page 4

Ubiquity Global Services UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Audit Information

The auditor's report on the accounts of Ubiquity Global Services UK Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Jay Chatwani (Senior Statutory Auditor) for and on behalf of Lawrence & Co , Statutory Auditor.

Lawrence & Co

Unit 205, Cervantes House

5-9 Headstone Road

Harrow

HA1 1PD

Page 4

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	419,506		82,792
Cash at bank and in hand		3,271		9,130

		422,777		91,922
Creditors: Amounts Falling Due Within One Year	5	(23,658 )		(16,051 )

NET CURRENT ASSETS (LIABILITIES)			399,119		75,871

TOTAL ASSETS LESS CURRENT LIABILITIES			399,119		75,871

Creditors: Amounts Falling Due After More Than One Year	6		(946,327 )		(315,525 )

NET LIABILITIES			(547,208 )		(239,654 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(547,308 )		(239,754 )

SHAREHOLDERS' FUNDS			(547,208)		(239,654)