REGISTERED NUMBER: 04057330 (England and Wales)

Abridged Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Unasys Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M V J Flynn

SECRETARY:

A M Johnston

REGISTERED OFFICE:

Boho One

Bridge Street West

MIDDLESBROUGH

TS2 1AE

REGISTERED NUMBER:

04057330 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

390,427

385,991

Tangible assets

5

15,771

27,151

Investments

6

30,000

30,000

436,198

443,142

CURRENT ASSETS

Debtors

256,008

345,089

Cash at bank

105,723

58,767

361,731

403,856

CREDITORS

Amounts falling due within one year

(176,436

)

(114,982

)

NET CURRENT ASSETS

185,295

288,874

TOTAL ASSETS LESS CURRENT LIABILITIES

621,493

732,016

CREDITORS

Amounts falling due after more than one year

(4,979

)

(14,979

)

NET ASSETS

616,514

717,037

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

616,314

716,837

SHAREHOLDERS' FUNDS

616,514

717,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2026 and were signed by:

M V J Flynn - Director

1.	STATUTORY INFORMATION

Unasys Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Contract work in progress

Contract work in progress is valued at costs incurred, net of amounts transferred to cost of sales, less foreseeable losses and payments on account not matched with turnover. Any profit attributable to contract work in progress, calculated in accordance with FRS 102, has been included by way of turnover and cost of sales, with the amount by which turnover is in excess of payments on account included in debtors in amounts due on contracts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software development costs whilst under development are not amortised. Once completed software development costs are to be amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Grants

Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

Revenue based grants are credited to the profit and loss account on receipt.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Traded fixed asset investments are stated at fair value. Changes in fair value are recognised in profit or loss.

Investments in private companies are stated at cost less provision for any impairment in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

884,068

Additions

52,564

At 31 December 2024

936,632

AMORTISATION

At 1 January 2024

498,077

Amortisation for year

48,128

At 31 December 2024

546,205

NET BOOK VALUE

At 31 December 2024

390,427

At 31 December 2023

385,991

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

90,564

Additions

627

At 31 December 2024

91,191

DEPRECIATION

At 1 January 2024

63,413

Charge for year

12,007

At 31 December 2024

75,420

NET BOOK VALUE

At 31 December 2024

15,771

At 31 December 2023

27,151

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

30,000

NET BOOK VALUE

At 31 December 2024

30,000

At 31 December 2023

30,000

The cost value of the investments was £83,337.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

100

Ordinary A

£1

100

100

200

200

The 'Ordinary' and 'A Ordinary' shares shall constitute different classes of shares for the purposes of the Companies Act 2006 and all share classes shall be entitled to varying rates of dividend as may be declared by the directors from time to time. The A Ordinary shares shall have no voting rights but the right to repayment of £1 per 'A Ordinary' share from the assets available for distribution on winding up of the company. The Ordinary shares shall have full voting and equity rights.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

M V J Flynn

Balance outstanding at start of year

29,260

51,421

Amounts advanced

13,369

39,491

Amounts repaid

(40,000

)

(61,652

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,629

29,260

The loan is interest free and was repaid by 30th September 2025.