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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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Uniled Software Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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for |
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Uniled Software Limited |
Uniled Software Limited (Registered number: 11076287) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Uniled Software Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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First Floor |
Spitalfields House |
Stirling Way |
Borehamwood |
Hertfordshire |
WD6 2FX |
Uniled Software Limited (Registered number: 11076287) |
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Balance Sheet |
31 December 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Uniled Software Limited (Registered number: 11076287) |
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Balance Sheet - continued |
31 December 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Uniled Software Limited (Registered number: 11076287) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Uniled Software Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Uniled Software Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Uniled Software Limited (Registered number: 11076287) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the company becomes 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. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and |
preference shares that are classified as debt, are initially recognised at transaction price unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Uniled Software Limited (Registered number: 11076287) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Going concern |
The directors have considered the company’s financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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Government grants |
Government grants are recognised in income when received. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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AMORTISATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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Uniled Software Limited (Registered number: 11076287) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2021 |
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Additions |
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Disposals | ( |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
Additions |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
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Amounts owed by participating interests | 32,798 | - |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
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Amounts owed to participating interests | 1,191,817 | 257,593 |
Taxation and social security |
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Other creditors |
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Uniled Software Limited (Registered number: 11076287) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
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The secured debt relates to a bank loan with a nominal interest rate of 5.65% per annum in relation to which the bank has fixed and floating charge over the leasehold property and the undertakings of the company. |
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Personal guarantee has been given by each of the the company's directors, Mr B M Zloof and Mr D Shamash limited to the sum of £50,000 and a joint and several guarantee from a related company. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
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Ordinary | 0.01 | 100 | 100 |
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12. | RELATED PARTY DISCLOSURES |
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Included within Debtors amount falling due within one year, is an amount of £32,798 (2020: Nil) owed by a related party. |
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Included within Creditors amount falling due within one year, is an amount of £1,191,817 (2020: £257,593) owed to a related company. |
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This balance arose due to financing transactions in the year. |
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During the year, the company invoiced a related company £1,597,610 (2020: £521,766) relating to services provided on an arm's length basis. |
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13. | COVID-19 |
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The COVID-19 pandemic continued during the company's year. The directors have considered the likely effect of the COVID-19 pandemic on the future performance of the company and consider that it will have a significant adverse impact on this. Whilst it is not possible to quantify this impact, the directors consider that the company has sufficient resources to remain in business for the foreseeable future. |