Delete Limited Company accounts

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COMPANY REGISTRATION NUMBER: 03933385

Delete Limited

Financial statements

31 March 2023

Delete Limited

Financial statements

year ended 31st March 2023

Contents	Pages

Officers and professional advisers	1

Strategic report	2 to 3

Directors' report	4 to 6

Independent auditor's report to the members	7 to 9

Statement of comprehensive income	10

Statement of financial position	11

Statement of changes in equity	12

Notes to the financial statements	13 to 20

Delete Limited

Officers and professional advisers

The board of directors	Mr D M J Berry
	Mr J Carrington
	Mr A M Saigar
	Mr T P Dougherty

Registered office	Grafton House
	2-3 Golden Square
	London
	W1F 9HR

Auditor	Sagars Accountants Ltd
	Chartered Accountants & Statutory Auditor
	Gresham House
	5-7 St Paul's Street
	Leeds
	LS1 2JG

Delete Limited

Strategic report

year ended 31st March 2023

The directors present their strategic report for the company for the year ended 31 March 2023. Review of the business in the period The principal activity of the company up to 30 September 2022 was that of the provision of design and digital marketing services. On 30 September 2022, the company transferred its trade and assets to another group company and became dormant. Total revenue in the period was £4,319,070 (2022: £10,455,424). EBITDA for the period was £474,173 (2022: £1,810,348). Position of the company's business at the end of the year The company has net current assets of £1 at the balance sheet date due to the transfer of trade and assets in the period (2022: £3,942,127). The company has net assets of £1 at the balance sheet date due to the transfer of trade and assets in the period (2022: £4,040,932). Principal risks and uncertainties facing the business Technology The Company operates in a continuously developing industry where there is an increased risk of services becoming obsolete or non-competitive. This risk will most certainly increase further with the advancement and use of AI across the industry. To mitigate this risk, the Company invests in research and development and continuously strives to evolve and innovate ensuring the services and solutions provided are relevant and delivered effectively. IT Infrastructure, cyber security and disaster recovery As a technology business these challenges are standard and represent an overall risk to conducting our business activities and will continue to develop in line with our continued growth. To mitigate these risks, the UNRVLD group undertakes the following: - Continuous monitoring and investment in IT infrastructure - Consolidated 'safe' list of vendors used to reduce the threat of cyber security - Standardisation of back-up processes to reduce operational customer and back-office risk- Maintaining UNRVLD's ISO27001 certification Recruitment and retention of resources The Company operates in a specialist and competitive sector. Retaining existing talent and attracting new talent remains a key priority for the UNRVLD group. The Company continues to invest in the personal and professional development and well-being of its people. We have a committed team comprising: Employee Experience Director, Senior People and Culture Manager, People and Culture Manager and Talent Partner, responsible for regularly reviewing our remuneration and incentive packages, better benefits and improved internal communications, diversity, culture, equal opportunities, corporate social responsibility and working conditions. Client retention and attraction The Company operates in a highly competitive market. The UNRVLD group prides itself on establishing and maintaining long-term relationships with clients, sustainable by our highly skilled and knowledgeable client services team. The UNRVLD group have dedicated strategy, new business and marketing teams, steered by our Chief Growth Officer and Chief Executive Officer. We continue to evolve our approach to targeting and winning new business, including the development of our relationships with our partners such as Optimizely, Sitecore and Contentful. Liquidity Poor trading and cash flow performance could lead to a lack of ongoing support from its lenders and an inability to raise additional funds to meet the needs of the business. To mitigate this risk the company monitors its cash generation closely and takes prompt action to mitigate any adverse trends. Future developments The UNRVLD group is experiencing good demand for its services from its existing clients and is expecting to see further growth in the next 12 months. The group also has an appetite for future strategic acquisitions which when combined with the organic growth, will serve to accelerate the UNRVLD group's ambition to grow into an industry leader in the UK and internationally.

This report was approved by the board of directors on 26th March 2024 and signed on behalf of the board by:

Mr A M Saigar

Director

Delete Limited

Directors' report

year ended 31st March 2023

The directors present their report and the financial statements of the company for the year ended 31 March 2023 .

Directors

The directors who served the company during the year were as follows:

Mr D M J Berry
Mr J Carrington
Mr A M Saigar
Mr T P Dougherty

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor Each of the persons who is a director at the date of approval of this report confirms that: - so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Sagars Accountants Ltd is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 26 March 2024 and signed on behalf of the board by:

Mr A M Saigar

Director

Delete Limited

Independent auditor's report to the members of Delete Limited

year ended 31st March 2023

Opinion

We have audited the financial statements of Delete Limited (the 'company') for the year ended 31st March 2023 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31st March 2023 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We draw attention to note 3 to the financial statements which explains that in the year the company transferred its trade and assets to another group company and ceased trading and the directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern.

Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of income, management override of controls and posting of unusual journals and complex transactions. We discussed these risks with client management, designed audit procedures to test the inclusion and timing of income, tested a sample of journals to confirm they were appropriate and reviewed areas of judgement for indicators of management bias to address these risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with the auditing standards. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Hunt BA (Hons) MA ACA

(Senior Statutory Auditor)

For and on behalf of

Sagars Accountants Ltd

Chartered Accountants & Statutory Auditor

Gresham House

5-7 St Paul's Street

Leeds

LS1 2JG

26 March 2024

Delete Limited

Statement of comprehensive income

year ended 31st March 2023

	2023	2022
Note	£	£

Turnover	5	4,319,070	10,455,424

Cost of sales	( 2,215,826)	( 4,884,158)
	-----------	------------
Gross profit	2,103,244	5,571,266

Administrative expenses		( 581,378)	( 3,841,115)
Other operating income	6	9,035	19,238
		-----------	-----------
Operating profit	7	1,530,901	1,749,389

Other interest receivable and similar income	10	580	–
		-----------	-----------
Profit before taxation		1,531,481	1,749,389

Tax on profit	11	–	344
		-----------	-----------
Profit for the financial year and total comprehensive income		1,531,481	1,749,733
		-----------	-----------

All the activities of the company are from continuing operations.

Delete Limited

Statement of financial position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	14		–		98,805

Current assets

Debtors	15	1	3,690,165
Cash at bank and in hand		–	2,838,342
		----	-----------
		1	6,528,507

Creditors: amounts falling due within one year	16	–		( 2,586,380)
		----		-----------
Net current assets			1		3,942,127
			----		-----------
Total assets less current liabilities			1		4,040,932
			----		-----------
Net assets			1		4,040,932
			----		-----------

Capital and reserves

Called up share capital	18	1	18,100
Capital redemption reserve	19	–	2,000
Profit and loss account	19	–	4,020,832
		----	-----------
Shareholders funds		1	4,040,932
		----	-----------

These financial statements were approved by the board of directors and authorised for issue on 26 March 2024 , and are signed on behalf of the board by:

Mr A M Saigar

Director

Company registration number: 03933385

Delete Limited

Statement of changes in equity

year ended 31st March 2023

Called up share capital	Capital redemption reserve	Profit and loss account	Total
£	£	£	£

At 1st April 2021		18,100	2,000	2,271,099	2,291,199

Profit for the year				1,749,733	1,749,733
		-------	------	-----------	-----------
Total comprehensive income for the year		–	–	1,749,733	1,749,733

At 31st March 2022		18,100	2,000	4,020,832	4,040,932

Profit for the year				1,531,481	1,531,481
		-------	------	-----------	-----------
Total comprehensive income for the year		–	–	1,531,481	1,531,481

Dividends paid and payable	12	–	–	( 5,572,412)	( 5,572,412)
Cancellation of subscribed capital		( 18,099)	( 2,000)	20,099	–
		-------	------	-----------	-----------
Total investments by and distributions to owners		( 18,099)	( 2,000)	( 5,552,313)	( 5,572,412)

		-------	------	-----------	-----------
At 31st March 2023		1	–	–	1
		-------	------	-----------	-----------

Delete Limited

Notes to the financial statements

year ended 31st March 2023

1. General information

The principal activity of the company during the year was that of the provision of design and digital marketing services . The company is a private limited company, which is incorporated and registered in England and Wales (no 03933385 ). The address of the registered office is Grafton House, 2-3 Golden Square, London, W1F 9HR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

On 30 September 2022, the company transferred its trade and assets to a company in the same group. In advance of the transfer the directors considered the values of all balances to ensure all assets were recoverable and there were no unrecorded liabilities. All assets and liabilities were transferred. Following the transfer the company ceased trading and it is the intention of the directors to wind up the company. As a result of this development the directors have adopted a basis other than going concern when preparing these accounts.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of UNRVLD Holdings Limited which can be obtained from 2-3 Golden Square, London, England, W1F 9HR . As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received for services rendered, net of discounts and Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	write off over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold	-	10-20% straight line
Plant & machinery	-	33% straight line
Fixtures & fittings	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Auditor's remuneration

	2023	2022
	£	£
Fees payable for the audit of the financial statements	5,500	7,400

5. Turnover

Turnover arises from:

	2023	2022
	£	£

Rendering of services	4,316,437	10,450,134
Commissions	2,633	5,290
	-----------	------------
	4,319,070	10,455,424
	-----------	------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2023	2022
	£	£

United Kingdom	3,271,526	8,427,072
Overseas	1,047,544	2,028,352
	-----------	------------
	4,319,070	10,455,424
	-----------	------------

6. Other operating income

	2023	2022
	£	£

Other operating income	9,035	19,238
	------	-------

7. Operating profit

Operating profit or loss is stated after charging/crediting:

	2023	2022
	£	£

Depreciation of tangible assets	30,270	60,959
Gains on disposal of tangible assets	–	( 333)
Impairment of trade debtors	–	54,558
Foreign exchange differences	14,269	–
	-------	-------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2023	2022
	No.	No.
Administrative staff	24	49
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2023	2022
	£	£

Wages and salaries	1,209,448	2,706,003
Social security costs	140,021	307,967
Other pension costs	27,286	79,565
	-----------	-----------
	1,376,755	3,093,535
	-----------	-----------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2023	2022
	£	£

Remuneration	175,389	357,395
Company contributions to defined contribution pension plans	12,546	31,533
	---------	---------
	187,935	388,928
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2023	2022
	No.	No.
Defined contribution plans	2	3
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2023	2022
	£	£

Aggregate remuneration	88,830	121,605
Company contributions to defined contribution pension plans	6,375	12,083
	-------	---------
	95,205	133,688
	-------	---------

The aggregate remuneration figure above includes benefits in kind of £854 (2022: £2,213). The remuneration of the highest paid director includes benefits in kind of £403 (2022: £772).

10. Other interest receivable and similar income

	2023	2022
	£	£

Interest on cash and cash equivalents	580	–
	----	----

11. Tax on profit

Major components of tax income

	2023	2022
	£	£

Current tax:

Adjustments in respect of prior periods	–	( 344)
	----	----
Tax on profit	–	( 344)
	----	----

Reconciliation of tax income

The tax assessed on the profit on ordinary activities for the year is lower than (2022: lower than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).

	2023	2022
	£	£

Profit on ordinary activities before taxation	1,531,481	1,749,389
	-----------	-----------
Profit on ordinary activities by rate of tax	290,981	332,384
Adjustment to tax charge in respect of prior periods	–	( 344)
Effect of expenses not deductible for tax purposes	( 206,249)	1,365
Effect of capital allowances and depreciation	3,396	( 1,897)
Rounding on tax charge	( 45,240)	–
Additional deduction for R&D expenditure	–	( 336,035)
Movement in deferred tax not recognised	–	4,183
Short term timing differences on provision movements	( 25,488)	–
Utilisation of brought forward losses	( 17,400)	–
	-----------	-----------
Tax on profit	–	( 344)
	-----------	-----------

12. Dividends

	2023	2022
	£	£

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	5,572,412	–
	-----------	----

13. Intangible assets

	Goodwill
	£

Cost
At 1st April 2022	157,846
Additions	–
Transfers	( 157,846)
	---------
At 31st March 2023	–
	---------
Amortisation
At 1st April 2022	157,846
Charge for the year	–
Transfers	( 157,846)
	---------
At 31st March 2023	–
	---------
Carrying amount
At 31st March 2023	–
	---------
At 31st March 2022	–
	---------

14. Tangible assets

Land and buildings	Plant and machinery	Fixtures and fittings	Total
£	£	£	£

Cost
At 1st April 2022	240,910	451,623	937	693,470
Additions	–	3,226	–	3,226
Transfers	( 240,910)	( 454,849)	( 937)	( 696,696)
	---------	---------	----	---------
At 31st March 2023	–	–	–	–
	---------	---------	----	---------
Depreciation
At 1st April 2022	194,060	399,668	937	594,665
Charge for the year	15,078	15,192	–	30,270
Transfers	( 209,138)	( 414,860)	( 937)	( 624,935)
	---------	---------	----	---------
At 31st March 2023	–	–	–	–
	---------	---------	----	---------
Carrying amount
At 31st March 2023	–	–	–	–
	---------	---------	----	---------
At 31st March 2022	46,850	51,955	–	98,805
	---------	---------	----	---------

15. Debtors

	2023	2022
	£	£

Trade debtors	–	941,130
Amounts owed by group undertakings	1	2,450,889
Prepayments and accrued income	–	249,151
Other debtors	–	48,995
	----	-----------
	1	3,690,165
	----	-----------

16. Creditors: amounts falling due within one year

	2023	2022
	£	£

Trade creditors	–	231,645
Amounts owed to group undertakings	–	1,086,998
Accruals and deferred income	–	820,276
Social security and other taxes	–	392,299
Other creditors	–	55,162
	----	-----------
	–	2,586,380
	----	-----------

17. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 14,740 (2022: £ 48,032 ).

18. Called up share capital

Issued, called up and fully paid

2023		2022
No.	£	No.	£

Ordinary A shares of £ 1 each	1	1	7,261	7,261
Ordinary B shares of £ 1 each	–	–	7,221	7,221
Ordinary C shares of £ 1 each	–	–	3,618	3,618
	----	----	-------	-------
	1	1	18,100	18,100
	----	----	-------	-------

On 7 October 2022, the issued share capital of the company was reduced from £18,100 to £1 by cancelling and extinguishing 7,260 A ordinary shares of £1 each, 7,221 B ordinary shares of £1 each and 3,618 C ordinary shares of £1 each.

19. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. On 7 October 2022, the company's capital redemption reserve was reduced from £2,000 to £nil. Profit and loss account - This reserve records retained earnings and accumulated losses.

20. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2023	2022
	£	£

Not later than 1 year	–	117,389
Later than 1 year and not later than 5 years	–	2,483
	----	---------
	–	119,872
	----	---------

21. Contingencies

TC Loans (CBILS) Limited hold fixed and floating charges over all present and future interests of the company. TC Loans Limited hold fixed and floating charges over all present and future interests of the company.

22. Related party transactions

The company has taken advantage of the exemption from disclosing transactions with entities that are included in the consolidated financial statements of its ultimate parent company on the grounds that 100% of the voting rights in the company are controlled by its ultimate parent company and the company's results are included in the consolidated financial statements of its ultimate parent company.

23. Controlling party

The company's immediate parent undertaking was Fuse 8 Group Limited until 11 October 2022. From 11 October 2022, the company's immediate parent undertaking was UNRVLD Limited. The ultimate parent company is UNRVLD Holdings Limited, a company incorporated in England and Wales. Copies of the consolidated financial statements of UNRVLD Holdings Limited can be obtained from 2-3 Golden Square, London, England, W1F 9HR. There is no single ultimate controlling party.