REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2023 TO 30 JUNE 2024 |
FOR |
SOURSE AI LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2023 TO 30 JUNE 2024 |
FOR |
SOURSE AI LTD |
SOURSE AI LTD (REGISTERED NUMBER: 14699706) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 2 March 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SOURSE AI LTD |
COMPANY INFORMATION |
for the Period 2 March 2023 to 30 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
SOURSE AI LTD (REGISTERED NUMBER: 14699706) |
BALANCE SHEET |
30 June 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
SOURSE AI LTD (REGISTERED NUMBER: 14699706) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 2 March 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Sourse AI Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. |
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, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Assets are initially measured at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer Equipment - 33% on cost |
Financial instruments |
Financial Instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102 (Section 1A). |
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 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 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. |
SOURSE AI LTD (REGISTERED NUMBER: 14699706) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 2 March 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 30 June 2024 |
DEPRECIATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors & accruals |
SOURSE AI LTD (REGISTERED NUMBER: 14699706) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 2 March 2023 to 30 June 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 1 |
8. | ULTIMATE CONTROLLING PARTY |
9. | THE ULTIMATE PARENT COMPANY |
The ultimate parent company is My Mobile Data Pty Ltd, a company incorporated in Australia by virtue of their 100% shareholding in Sourse Pty Ltd. |