REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
ACUSENSUS UK LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital contribution reserve | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 30 June 2024 |
DEPRECIATION |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
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 |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.24 | 30.6.23 |
£ | £ |
Within one year |
Between one and five years |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
9. | RESERVES |
Capital |
Retained | contribution |
earnings | reserve | Totals |
£ | £ | £ |
At 1 July 2023 | ( |
) | (142,697 | ) |
Deficit for the year | ( |
) | ( |
) |
Employee Equity Reserve | - | 12,027 | 12,027 |
At 30 June 2024 | ( |
) | (504,573 | ) |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |