BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The company is a software product and services company. The company develops and sells Intelligence & Analytics Applications for law enforcement and Mobile messaging applications. 23 October 2024 7 7 07180876 2023-12-31 07180876 2022-12-31 07180876 2021-12-31 07180876 2023-01-01 2023-12-31 07180876 2022-01-01 2022-12-31 07180876 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07180876 uk-curr:PoundSterling 2023-01-01 2023-12-31 07180876 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 07180876 uk-bus:Audited 2023-01-01 2023-12-31 07180876 uk-core:Non-currentFinancialInstruments 2023-12-31 07180876 uk-core:Non-currentFinancialInstruments 2022-12-31 07180876 uk-core:CurrentFinancialInstruments 2023-12-31 07180876 uk-core:CurrentFinancialInstruments 2022-12-31 07180876 uk-core:ShareCapital 2023-12-31 07180876 uk-core:ShareCapital 2022-12-31 07180876 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 07180876 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 07180876 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 07180876 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 07180876 uk-bus:FRS102 2023-01-01 2023-12-31 07180876 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07180876 uk-core:ParentEntities 2023-01-01 2023-12-31 07180876 uk-countries:Ireland 2023-01-01 2023-12-31 07180876 uk-bus:Director1 2023-01-01 2023-12-31 07180876 uk-bus:Director2 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 07180876
 
 
Saadian Technologies UK Limited
 
Abridged Financial Statements
 
for the financial year ended 31 December 2023
Saadian Technologies UK Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2023

 
The directors present their report and the audited financial statements for the financial year ended 31 December 2023.
 
Principal Activity
The company is a software product and services company. The company develops and sells Intelligence & Analytics Applications for law enforcement and Mobile messaging applications.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £113,403 (2022 - £110,891).
     
Directors
The directors who served during the financial year are as follows:
     
Cliodhna McGuirk
Nicholas Koumarianos
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
In accordance with the Consitution, the directors are not required to retire by rotation.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
             
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-select suitable accounting policies and apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
                 
Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
In so far as the directors are aware:
-there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
-the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
     
Auditors
The auditors, HLB Ryan Limited, (Chartered Accountants & Statutory Auditors) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
Cliodhna McGuirk Nicholas Koumarianos
Director Director
     
22 October 2024 22 October 2024



INDEPENDENT AUDITOR'S REPORT
to the Shareholders of Saadian Technologies UK Limited

 
Report on the audit of the financial statements
 
Opinion
We have audited the financial statements of Saadian Technologies UK Limited ('the company') for the financial year ended 31 December 2023 which comprise the Abridged Profit and Loss Account, the Abridged Balance Sheet and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the financial year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.
 
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the Provisions Available for Audits of Small Entities, in the circumstances set out in Note 4 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
 
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
 
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.
 
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
 
Other Information
The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
 
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors' Report has been prepared in accordance with applicable legal requirements.
 
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.
 
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.
 
Responsibilities of directors for the financial statements
The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.
 
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.
 
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 an auditor's report 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.
 
 
 
Derek Ryan (Senior Statutory Auditor)
for and on behalf of
HLB RYAN LIMITED
Chartered Accountants & Statutory Auditors
5 Clarina Park North
Dún Laoghaire
Co. Dublin
Ireland
 
23 October 2024



Saadian Technologies UK Limited
APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor
 
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
 
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
 
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
 
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
 
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.
 
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
 
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.



Saadian Technologies UK Limited
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2023
2023 2022
Notes £ £

Gross profit 387,620 254,759
 
Administrative expenses (298,661) (175,858)
───────── ─────────
Operating profit 88,959 78,901
 
Interest payable and similar expenses (10,908) (8,945)
───────── ─────────
Profit before taxation 78,051 69,956
 
Tax on profit 35,352 40,935
───────── ─────────
Profit for the financial year 113,403 110,891
───────── ─────────
Total comprehensive income 113,403 110,891
    ═════════   ═════════



Saadian Technologies UK Limited
Company Registration Number: 07180876
ABRIDGED BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 6 8,273 3,094
───────── ─────────
 
Current Assets
Debtors
- amounts falling due after more than one year 1,039,290 798,430
- amounts falling due within one year 499,745 188,337
Cash and cash equivalents 249,295 589,917
───────── ─────────
1,788,330 1,576,684
───────── ─────────
Creditors: amounts falling due within one year (642,757) (539,335)
───────── ─────────
Net Current Assets 1,145,573 1,037,349
───────── ─────────
Total Assets less Current Liabilities 1,153,846 1,040,443
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 1,153,746 1,040,343
───────── ─────────
Equity attributable to owners of the company 1,153,846 1,040,443
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
Approved by the Board and authorised for issue on 22 October 2024 and signed on its behalf by
           
           
           
Cliodhna McGuirk     Nicholas Koumarianos
Director     Director
           



Saadian Technologies UK Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Saadian Technologies UK Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 07180876. The registered office of the company is 118 Pall Mall, St.James's, London, SW1Y 5EA. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
The company generates revenue from the sale of time based software licenses, implementation services and maintenance and support services. Fees are payable upon completion of agreed milestones, such as execution of the agreement, and installation of the software.

Where the company sells software licenses, implementation services and maintenance and support services under a single contract and where the fair value of each individual component of the contract cannot be reliably determined, the total revenue under that contract is accounted for over the term of the contract. Where the fair values of each individual component of the contract can be reliably determined, each component of the contract is dealt with as if it was a separate contract and is accounted for as described below.

Where a contract with a customer consists solely of the sale of software licenses, such revenue is recognised upon delivery of the software to the customer, as the company has no further obligation to the customer once delivery has occurred.

Where a contract with a customer consists solely of the sale of maintenance and support services, it is recognised over the term of the contract.

Where a contract with a customer consists of the sale of systems and related implementation services, the implementation services are generally essential to the customer’s use of the software. Therefore in arrangements where the company is responsible for implementation services, revenue is recognised forthese arrangements following the percentage-of-completion basis of accounting.

Under the percentage-of-completion basis of accounting, revenue is recognised as the work progresses in amounts estimated to equal the actual progress on the contract. In applying this method, the company measures each project’s percentage-of-completion by the percentage of implementation hours incurred to
date compared to the estimated total implementation hours required. This method is used because management believe that expended hours are the best measure of progress on these engagements.
Changes in estimated costs and anticipated losses, if any, are recognised immediately in the period in which they are determined. After delivery, if uncertainty exists about customer acceptance of the software, revenue is not recognised until acceptance.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Computer Equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are recognised initially at transaction price (including transaction costs) unless a financing arrangement exists in which case they are measured at the present value of future receipts discounted at a market rate. Subsequently these are measured at amortised cost less any provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.  The amount of the provision is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. All movements in the level of the provision required are recognised in the profit and loss.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are classified as current liabilities if payment is due within one year or less.  If not, they are presented as non-current liabilities.  Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
 
Related parties
For the purposes of these financial statements a party is considered to be related to the company if:
 
- the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
- the company and the party are subject to common control;
- the party is an associate of the company or forms part of a joint venture with the company;
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
- the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
 
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Research and development
Research expenditure is written off to the Profit and Loss Account in the year in which it is incurred.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Significant accounting judgements and key sources of estimation uncertainty
 
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

For the period presented, the accounting estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible fixed assets
The annual depreciation on tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reviewed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the tangible fixed assets, and note 2 for the useful economic lives for each class of tangible fixed asset.

Provisions and accruals
Provisions are recognised when the company  has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the probable outflow of resources, and a reliable estimate can be made of the amount of the obligation.

Prepayments
Prepayments have been estimated based on payments made in one period, for goods and / or services which the company  expects to receive the benefit in a future period. The basis of estimation used by the Company has been formed by a calculation of the number of days to which the expense relates, and therefore the deferral of this expense.
   
4. Provisions Available for Audits of Small Entities
 
In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to Her Majesty's Revenue and Customs and to assist with the preparation of the financial statements.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial year was 7, (2022 - 7).
 
  2023 2022
  Number Number
 
Staff 7 7
  ═════════ ═════════
       
6. Tangible assets
  Computer Total
  Equipment  
     
  £ £
Cost
At 1 January 2023 21,518 21,518
Additions 9,330 9,330
  ───────── ─────────
At 31 December 2023 30,848 30,848
  ───────── ─────────
Depreciation
At 1 January 2023 18,424 18,424
Charge for the financial year 4,151 4,151
  ───────── ─────────
At 31 December 2023 22,575 22,575
  ───────── ─────────
Net book value
At 31 December 2023 8,273 8,273
  ═════════ ═════════
At 31 December 2022 3,094 3,094
  ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
8. Parent company
 
The company regards Saadian Technologies Limited as its parent company.
 
   
9. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.