Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.142023-07-01falseOther research and experimental development on natural sciences and engineering7falsetruefalse 13474140 2023-07-01 2024-06-30 13474140 2022-07-01 2023-06-30 13474140 2024-06-30 13474140 2023-06-30 13474140 c:Director1 2023-07-01 2024-06-30 13474140 d:PlantMachinery 2023-07-01 2024-06-30 13474140 d:PlantMachinery 2024-06-30 13474140 d:PlantMachinery 2023-06-30 13474140 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 13474140 d:OfficeEquipment 2023-07-01 2024-06-30 13474140 d:OfficeEquipment 2024-06-30 13474140 d:OfficeEquipment 2023-06-30 13474140 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 13474140 d:ComputerEquipment 2023-07-01 2024-06-30 13474140 d:ComputerEquipment 2024-06-30 13474140 d:ComputerEquipment 2023-06-30 13474140 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 13474140 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 13474140 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 13474140 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 13474140 d:CurrentFinancialInstruments 2024-06-30 13474140 d:CurrentFinancialInstruments 2023-06-30 13474140 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13474140 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13474140 d:ShareCapital 2024-06-30 13474140 d:ShareCapital 2023-06-30 13474140 d:SharePremium 2024-06-30 13474140 d:SharePremium 2023-06-30 13474140 d:RetainedEarningsAccumulatedLosses 2024-06-30 13474140 d:RetainedEarningsAccumulatedLosses 2023-06-30 13474140 c:OrdinaryShareClass1 2023-07-01 2024-06-30 13474140 c:OrdinaryShareClass1 2024-06-30 13474140 c:OrdinaryShareClass2 2023-07-01 2024-06-30 13474140 c:OrdinaryShareClass2 2024-06-30 13474140 c:OrdinaryShareClass3 2023-07-01 2024-06-30 13474140 c:OrdinaryShareClass3 2024-06-30 13474140 c:OrdinaryShareClass4 2023-07-01 2024-06-30 13474140 c:OrdinaryShareClass4 2024-06-30 13474140 c:FRS102 2023-07-01 2024-06-30 13474140 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13474140 c:FullAccounts 2023-07-01 2024-06-30 13474140 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13474140 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-06-30 13474140 2 2023-07-01 2024-06-30 13474140 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-07-01 2024-06-30 13474140 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13474140









GAUSSION LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
GAUSSION LTD
REGISTERED NUMBER: 13474140

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
149,662
61,058

Tangible assets
 5 
280,748
288,678

  
430,410
349,736

Current assets
  

Debtors: amounts falling due within one year
 6 
215,754
117,369

Cash at bank and in hand
 7 
10,112,656
1,726,557

  
10,328,410
1,843,926

Creditors: amounts falling due within one year
 8 
(196,427)
(33,541)

Net current assets
  
 
 
10,131,983
 
 
1,810,385

Total assets less current liabilities
  
10,562,393
2,160,121

  

Net assets
  
10,562,393
2,160,121


Capital and reserves
  

Called up share capital 
 9 
29
18

Share premium account
  
12,325,031
2,845,980

Profit and loss account
  
(1,762,667)
(685,877)

  
10,562,393
2,160,121


Page 1

 
GAUSSION LTD
REGISTERED NUMBER: 13474140
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr C Tan
Director

Date: 10 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Gaussion Ltd is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the company during the period was other research and experimental development on natural sciences and engineering. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Office equipment
-
20%
Computer equipment
-
50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 7).

Page 5

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 July 2023
61,058


Additions
96,481



At 30 June 2024

157,539



Amortisation


Charge for the year on owned assets
7,877



At 30 June 2024

7,877



Net book value



At 30 June 2024
149,662



At 30 June 2023
61,058



Page 6

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
268,473
44,100
28,281
340,854


Additions
128,138
1,772
2,603
132,513



At 30 June 2024

396,611
45,872
30,884
473,367



Depreciation


At 1 July 2023
36,167
4,105
11,905
52,177


Charge for the year on owned assets
114,514
8,968
16,960
140,442



At 30 June 2024

150,681
13,073
28,865
192,619



Net book value



At 30 June 2024
245,930
32,799
2,019
280,748



At 30 June 2023
232,306
39,995
16,377
288,678


6.


Debtors

2024
2023
£
£


Other debtors
119,165
98,456

Prepayments and accrued income
96,589
18,913

215,754
117,369



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,112,656
1,726,557

10,112,656
1,726,557


Page 7

 
GAUSSION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
172,967
17,821

Other taxation and social security
18,332
12,107

Other creditors
2,628
1,113

Accruals and deferred income
2,500
2,500

196,427
33,541



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



678,276 (2023 - 678,276) Seed shares of £0.00001 each
6.78276
6.78276
1,109,440 (2023 - 1,086,475) Ordinary shares of £0.00001 each
11.09440
10.86475
29,412 (2023 - 29,412) Growth shares of £0.00001 each
0.29412
0.29412
1,128,265 (2023 -Nil ) Series A shares of £0.00001 each
11.28265
-

29.45393

17.94163


On 27 June 2024, 1,128,265 Series A shares of £0.00001 each and 22,965 Ordinary shares of £0.00001 each were issued at a premium.


10.


Pension commitments

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. 

 
Page 8