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REGISTERED NUMBER: 13582036 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ADVANCED INSTRUMENTS TWO LIMITED

ADVANCED INSTRUMENTS TWO LIMITED (REGISTERED NUMBER: 13582036)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


ADVANCED INSTRUMENTS TWO LIMITED (REGISTERED NUMBER: 13582036)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 113,447,474 107,147,474

CREDITORS
Amounts falling due within one year 5 13,085,022 6,975,369
NET CURRENT ASSETS 100,362,452 100,172,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,362,452

100,172,105

CREDITORS
Amounts falling due after more than one
year

6

100,000,000

100,000,000
NET ASSETS 362,452 172,105

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 362,352 172,005
SHAREHOLDERS' FUNDS 362,452 172,105

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

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

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





S M Hanlon - Director


ADVANCED INSTRUMENTS TWO LIMITED (REGISTERED NUMBER: 13582036)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Advanced Instruments Two Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13582036

Registered office: 5th Floor One New Change
London
EC4M 9AF

The presentation currency of the financial statements is the Pound Sterling (£).


The period covered by the financial statements is 12 months from 1 January 2023 to 31 December 2023. The period covered by the comparatives is 16 months from 24 August 2021 to 31 December 2022. The comparative period was the first accounting period and the accounting period end date of 31 December was chosen to be co-terminus with the group's accounting period.

2. ACCOUNTING POLICIES

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

Going concern
Interest is due to be received and paid at the end of each quarter, but the cash has not been transferred and instead the unpaid interest is accruing as amounts due to/from group undertakings in debtors/creditors due within one year. The director, who is also a director of the group undertakings party to the loan arrangements, is satisfied that payment of the interest payable will not be demanded unless the interest receivable is received. Therefore, the financial statements are prepared on a going concern basis.

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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Loan interest receivable and payable are recognised in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 13,447,474 7,147,474

ADVANCED INSTRUMENTS TWO LIMITED (REGISTERED NUMBER: 13582036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 100,000,000 100,000,000

Aggregate amounts 113,447,474 107,147,474

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 13,085,022 6,935,022
Taxation and social security - 40,347
13,085,022 6,975,369

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 100,000,000 100,000,000

Creditors due after more than one year include £100,000,000 (2022: £100,000,000) which is payable, other than by instalments, after more than five years.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christian Heeger BSc FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

9. CONTINGENT LIABILITIES

There are fixed and floating charges in place over the company's assets as security for loans of $234.5 million (2022: $219.0 million) to group undertakings.

10. PARENT COMPANIES

Advanced Instruments Two Limited is a subsidiary undertaking of Advanced Instruments LLC, which is the immediate parent company and incorporated in the United States of America. Its registered office is Two Technology Way, Norwood, MA 02062.

The ultimate parent company is Investor AB, a company incorporated in Sweden. Its registered office is Arsenalsgatan 8C, 103 32 Stockholm.

Advanced Instruments LLC is the smallest group to consolidate these financial statements. Investor AB is the largest group to consol idate these financial statements. The consolidated financial statements for Investor AB are publicly available and can be obtained from www.investorab.com.