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Registered number: 13303825









ASEA ADVANCING LIFE UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2022

 
ASEA ADVANCING LIFE UK LIMITED
 
 
COMPANY INFORMATION


Directors
J B Tyler 
J N Webb 




Registered number
13303825



Registered office
1 Trafalgar Square
Northumberland Avenue

London

WC2N 5BW




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS





 
ASEA ADVANCING LIFE UK LIMITED
 

CONTENTS



Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 5


  
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Report to the directors on the preparation of the unaudited statutory financial statements of ASEA Advancing Life UK Limited for the period ended 31 March 2022 

We have compiled the accompanying financial statements of ASEA Advancing Life UK Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of the company as at 31 March 2022, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 12 January 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 12 January 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Liverpool

6 March 2024
Page 1

 
ASEA ADVANCING LIFE UK LIMITED
REGISTERED NUMBER: 13303825

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
140

Net assets
  
 
 
140


Capital and reserves
  

Called up share capital 
 5 
140

Shareholder's funds
  
140


For the period ended 31 March 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J B Tyler
Director

Date: 1 March 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
ASEA ADVANCING LIFE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

1.


General information

ASEA Advancing Life UK Limited ("the Company") is a private company limited by shares, incorporated in
England and Wales. Registered number: 13303825. Its registered head office is located at 1 Trafalgar Square, Northumberland Avenue, London, WC2N 5BW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Period of account

These financial statements cover the period from incorporation on 30 March 2021 to 31 March 2022. 

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.
Basic financial assets
Basic financial assets, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment.
Discounting is omitted where the effect of discounting is immaterial.






 
Page 3

 
ASEA ADVANCING LIFE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.4
Financial instruments (continued)

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, are initially measured at their transaction price after transaction costs.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2022
£


Amounts owed by group undertakings
140



Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


5.


Called up share capital

2022
£
Allotted, called up and fully paid


140 Ordinary shares of £1.00 each
140


On incorporation on 30 March 2021, the Company issued 140 Ordinary shares of £1.00 each at par value for intercompany consideration.

Page 4

 
ASEA ADVANCING LIFE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

6.


Ultimate controlling party

The Company's immediate parent company is ASEA Luxembourg, S.à r.l., a company incorporated in Luxembourg.
The Company's ultimate parent company is ASEA Enterprises, LLC, a company incorporated in the United States of America.
No company prepares consolidated financial statements that include the Company. 
The directors consider there to be no ultimate controlling party.

Page 5