REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ADVANCED INSTRUMENTS TWO LIMITED |
REGISTERED NUMBER: |
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 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
Registered number: |
Registered office: |
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 |
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 |
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 |
Aggregate amounts |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
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: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |