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REGISTERED NUMBER: 13685859 (England and Wales)















Financial Statements

for the Period 1 November 2022 to 31 December 2023

for

Innosilicon Technology UK Limited

Innosilicon Technology UK Limited (Registered number: 13685859)






Contents of the Financial Statements
for the Period 1 November 2022 to 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Innosilicon Technology UK Limited

Company Information
for the Period 1 November 2022 to 31 December 2023







DIRECTORS: Ms X Lin
Ms K Long





REGISTERED OFFICE: Flat 74 Woodlark Apartments
1 Damsel Walk
London
NW9 7FA





REGISTERED NUMBER: 13685859 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

Innosilicon Technology UK Limited (Registered number: 13685859)

Statement of Financial Position
31 December 2023

31.12.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,325 46,473

CURRENT ASSETS
Debtors 5 1,025,728 6,434
Cash at bank 210,202 634,605
1,235,930 641,039
CREDITORS
Amounts falling due within one year 6 1,013,463 435,915
NET CURRENT ASSETS 222,467 205,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,792

251,597

PROVISIONS FOR LIABILITIES 9,562 8,830
NET ASSETS 263,230 242,767

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 63,230 42,767
263,230 242,767

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Ms K Long - Director


Innosilicon Technology UK Limited (Registered number: 13685859)

Notes to the Financial Statements
for the Period 1 November 2022 to 31 December 2023

1. STATUTORY INFORMATION

Innosilicon Technology UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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
At the time of approving the financial statements, the dìrector has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the dírector continues to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for work provided in the normal course of business, net of discounts, VAT and other sales related taxes.

The company provides research and development services on a continuous basis to, and under the general direction of, its parent company, in accordance with the terms of a signed agreement/contract. Accordingly, revenue receivable from the parent company is recognised on a straight-line basis over the specified period.

Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 20%
Fixture & fittings - 20%

Taxation
Taxation for the period 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 statement of financial position date.


Innosilicon Technology UK Limited (Registered number: 13685859)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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 period end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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, which include other receivables 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Innosilicon Technology UK Limited (Registered number: 13685859)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 - 55,768 55,768
Additions 6,684 15,313 21,997
At 31 December 2023 6,684 71,081 77,765
DEPRECIATION
At 1 November 2022 - 9,295 9,295
Charge for period 1,560 16,585 18,145
At 31 December 2023 1,560 25,880 27,440
NET BOOK VALUE
At 31 December 2023 5,124 45,201 50,325
At 31 October 2022 - 46,473 46,473

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.10.22
£    £   
Amounts owed by group undertakings 960,189 -
Other debtors 65,539 6,434
1,025,728 6,434

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.10.22
£    £   
Trade creditors 2,654 10,800
Amounts owed to group undertakings 794,587 310,950
Taxation and social security 127,710 52,116
Other creditors 88,512 62,049
1,013,463 435,915

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Innosilicon Technology UK Limited (Registered number: 13685859)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023

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

The Report of the Auditors was unqualified.

Nijendra Dhungana (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited