| Undercurrent News Limited |
| Registered number: |
08186687 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
9,597 |
|
|
7,042 |
|
| Current assets |
| Debtors |
4 |
|
320,114 |
|
|
143,955 |
| Cash at bank and in hand |
|
|
280,680 |
|
|
703,211 |
|
|
|
600,794 |
|
|
847,166 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,064,950) |
|
|
(797,648) |
|
| Net current (liabilities)/assets |
|
|
|
(464,156) |
|
|
49,518 |
|
| Total assets less current liabilities |
|
|
|
(454,559) |
|
|
56,560 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(638,796) |
|
|
(8,325) |
|
| Net (liabilities)/assets |
|
|
|
(1,093,355) |
|
|
48,235 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Share premium |
|
|
|
14,995 |
|
|
14,995 |
| Profit and loss account |
|
|
|
(1,108,450) |
|
|
33,140 |
|
| Shareholders' funds |
|
|
|
(1,093,355) |
|
|
48,235 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| T Seaman |
| Director |
| Approved by the board on 26 August 2026 |
|
| Undercurrent News Limited |
| Notes to the Accounts |
| for the period from 1 September 2024 to 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The result in the accounts ended 31 December 2025 reflects the decision to undertake substanial expansion of the company's operating base to drive annual recurring revenue (ARR). This is now yielding results in the current year, with annual ARR growth of 42% year-on-year (January to August 2026), and the company is on course to achieve profitability in the 2027 operating year, in line with its expansion plans. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
Between 4 years straight line and 5 years |
|
|
|
|
reducing balance |
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
21 |
|
12 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Web site |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 September 2024 |
20,281 |
|
7,472 |
|
27,753 |
|
Additions |
5,811 |
|
- |
|
5,811 |
|
At 31 December 2025 |
26,092 |
|
7,472 |
|
33,564 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2024 |
13,239 |
|
7,472 |
|
20,711 |
|
Charge for the period |
3,256 |
|
- |
|
3,256 |
|
At 31 December 2025 |
16,495 |
|
7,472 |
|
23,967 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2025 |
9,597 |
|
- |
|
9,597 |
|
At 31 August 2024 |
7,042 |
|
- |
|
7,042 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
29,260 |
|
29,260 |
|
Other debtors and trade receivables |
290,854 |
|
114,695 |
|
|
|
|
|
|
320,114 |
|
143,955 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
161,332 |
|
10,008 |
|
Trade creditors |
35,568 |
|
35,081 |
|
Taxation and social security costs |
36,892 |
|
46,906 |
|
Other creditors |
831,158 |
|
705,653 |
|
|
|
|
|
|
1,064,950 |
|
797,648 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loan unsecured |
638,796 |
|
8,325 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The company is a wholly owned subsidiary of UCN Holdings Limited. |
|
|
| 8 |
Other information |
|
|
Undercurrent News Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
c/o Adams Beeny |
|
4 Sudley Road |
|
Bognor Regis |
|
West Sussex |
|
PO21 1EU |