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REGISTERED NUMBER: 14318431 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ACUSENSUS UK LIMITED

ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACUSENSUS UK LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: A Jannink





REGISTERED OFFICE: 10 John Street
London
United Kingdom
WC1N 2EB





REGISTERED NUMBER: 14318431 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 684,347 -

CURRENT ASSETS
Debtors 5 66,598 11,895
Cash at bank 74,304 32,832
140,902 44,727
CREDITORS
Amounts falling due within one year 6 1,329,821 187,423
NET CURRENT LIABILITIES (1,188,919 ) (142,696 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(504,572

)

(142,696

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Capital contribution reserve 9 12,027 -
Retained earnings 9 (516,600 ) (142,697 )
SHAREHOLDERS' FUNDS (504,572 ) (142,696 )

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 19 September 2024 and were signed by:





A Jannink - Director


ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Acusensus 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.

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.

The financial statements have been prepared on the going concern basis after consideration by the directors as to the appropriateness of this basis. The company's ultimate parent company has confirmed they will continue to support the company as required for a period in excess of 12 months and 1 day from the signing of the audit report.

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.

Critical accounting judgements and key sources of estimation uncertainty
With regard to the accounting policies adopted by the company, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily available from other sources. Such estimates are based on historical experience and other relevant factors and may differ from actual results. All estimates, and associated underlying assumptions, are reviewed on an ongoing basis.

Key sources of estimation uncertainty are:

-Estimation of useful lives of assets
Management determine the estimated useful lives and related depreciation charges for its property, plant and equipment based on the historical experience of the group. The useful lives could change significantly as a result of technological innovations or some other event. The depreciation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned and sold will be written off or down.

Turnover
Turnover from an agreement to provide services is recognised over time as the services are rendered based on either a fixed price or hourly rate. Turnover is measured at the fair value of the consideration receivable excluding discounts and value added tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost net of value added tax and are reviewed annually for signs of impairment. Depreciation is calculated on a straight-line basis to write off the cost of each item of property, plant and equipment over their expected useful lives as follows:

Computer equipment - 3 years
Transportable equipment - 5 years.


ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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 balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Share-based payments
Equity-settled transactions are awards of shares, or options over shares, that are granted to employees of the Company by the ultimate parent company in exchange for the rendering of services to the Company. The cost of equity-settled transactions are measured at fair value on grant date. Fair value is determined using the Monte Carlo simulation model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the group receives the services that entitle employees to receive payment. No account is taken of any other vesting conditions.

The share-based payment expense is recognised on a reasonable allocation of the group expense with the cost of equity-settled transactions recognised as an expense with a corresponding increase in the capital contribution reserve over the vesting period.The cumulative charge to profit or loss is calculated on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

Market conditions are taken into consideration in determining fair value. Therefore any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied.

The company has claimed exemption from disclosing the details around the options in place on the basis the disclosures are included in the ultimate parent company's financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 767,337
At 30 June 2024 767,337
DEPRECIATION
Charge for year 82,990
At 30 June 2024 82,990
NET BOOK VALUE
At 30 June 2024 684,347

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 66,598 11,895

ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 5,230 10,490
Amounts owed to group undertakings 1,273,346 144,770
Taxation and social security - 3,492
Other creditors & accruals 51,245 28,671
1,329,821 187,423

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 7,892 -
Between one and five years 13,810 -
21,702 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Capital
Retained contribution
earnings reserve Totals
£    £    £   

At 1 July 2023 (142,697 ) - (142,697 )
Deficit for the year (373,903 ) (373,903 )
Employee Equity Reserve - 12,027 12,027
At 30 June 2024 (516,600 ) 12,027 (504,573 )

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

The Report of the Auditors was unqualified.

Emma Florentin-Lee (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

ACUSENSUS UK LIMITED (REGISTERED NUMBER: 14318431)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"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 a Report of the Auditors 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."

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

12. ULTIMATE PARENT COMPANY

Acusensus Limited, a company incorporated in Australia and listed on the Australian Securities Exchange (ASX), is the ultimate parent company.

Acusensus Limited prepares consolidated financial statements that are publicly available. These are available upon request from Level 6, 31 Queen Street, Melbourne, Victoria 3000, Australia.