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Registration number: 11773010

U-Need Consulting Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

U-Need Consulting Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

U-Need Consulting Limited

Company Information

Director | P M D Andrade

Registered office | 114 St Martin's Lane Covent Garden London WC2N 4BE

Auditors | Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

U-Need Consulting Limited

(Registration number: 11773010)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 7 | - | 57
Current assets |  |  |
Debtors | 8 | 23,470 | 22,902
Cash at bank and in hand |  | 16,359 | 17,209
|  | 39,829 | 40,111
Creditors: Amounts falling due within one year | 9 | (185,205) | (209,326)
Net current liabilities |  | (145,376) | (169,215)
Net liabilities |  | (145,376) | (169,158)
Capital and reserves |  |  |
Called up share capital | 10 | 10,000 | 10,000
Retained earnings |  | (155,376) | (179,158)
Shareholders' deficit |  | (145,376) | (169,158)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 October 2025

......................................... P M D Andrade Director

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
United Kingdom

Principal activity

The principal activity of the Company is full services IT & Digital Transformation Consultancy.

These financial statements were authorised for issue by the director on 11 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office Equipment | 25% straight line

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Going concern

The company made a profit in the year and has net liabilities of £145,376. The company is reliant upon the continued support of its parent company to remain a going concern. Confirmation of this support has been provided, however the parent company has net liabilities at the balance sheet date, therefore they are reliant on their shareholders to continue as a going concern themselves.
In the circumstances the director believes it is appropriate to prepare the financial statements on a going concern basis as the parent company has returned to profit in 2025 and the directors of the parent company have indicated that the profit is expected to be maintained in 2026. However, there is a material uncertainty related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern and, therefore, that it may be unable to realise all its assets and discharge its liabilities in the normal course of business. Should the company be unable to continue as a going concern, adjustments would be required to reclassify long term assets to short term, to write current assets down to their realisable values and provide for any further liabilities that may arise.

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4 | Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

5 | Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified. Without qualifying our opinion, we draw attention to Note 3 in the financial statements, which indicates that whilst the company has made a profit in the current year, it has net liabilities of £145,376, and therefore is reliant on support from the parent company. The accounts of the parent company show that it has net liabilities but it has since returned to profit in 2025, and the directors have indicated that the profit is expected to be maintained in 2026. As stated in Note 3, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.. The name of the Senior Statutory Auditor who signed the audit report on 11 October 2025 was Hannah Fowlie, who signed for and on behalf of Bourner Bullock.

6 | Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 1 (2023 - 0).

7 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 January 2024 | 456 | 456
At 31 December 2024 | 456 | 456
Depreciation
At 1 January 2024 | 399 | 399
Charge for the year | 57 | 57
At 31 December 2024 | 456 | 456
Carrying amount
At 31 December 2024 | - | -
At 31 December 2023 | 57 | 57

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8 | Debtors

Current | Note | 2024 £ | 2023 £
Trade debtors |  | 12,256 | 3,492
Amounts owed by related parties |  | 8,265 | 17,606
Prepayments |  | 142 | -
Other debtors |  | 2,807 | 1,804
|  | 23,470 | 22,902

U-Need Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 4,963 | 19,003
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |  | 167,909 | 184,023
Taxation and social security |  | 5,071 | -
Accruals and deferred income |  | 7,005 | 6,300
Other creditors |  | 257 | -
|  | 185,205 | 209,326

10 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary share of £1 each | 10,000 | 10,000 | 10,000 | 10,000

11 | Dividends

Final dividends paid

|  | 2024 £ |  | 2023 £
Final dividend of £Nil per each Ordinary share capital |  | - |  | -