Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 7 December 2022 false 1 July 2023 30 June 2024 30 June 2024 14527932 Mr Mark Englund Mr Simon Lee Goodwille Limited Fiber Sense Limited 1A/1110 Middle Head Road, Mosman, New South Wales, 2088 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14527932 2023-06-30 14527932 2024-06-30 14527932 2023-07-01 2024-06-30 14527932 frs-core:CurrentFinancialInstruments 2024-06-30 14527932 frs-core:PlantMachinery 2024-06-30 14527932 frs-core:PlantMachinery 2023-07-01 2024-06-30 14527932 frs-core:PlantMachinery 2023-06-30 14527932 frs-core:ShareCapital 2024-06-30 14527932 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 14527932 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14527932 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 14527932 frs-bus:SmallEntities 2023-07-01 2024-06-30 14527932 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14527932 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14527932 1 2023-07-01 2024-06-30 14527932 frs-bus:Director1 2023-07-01 2024-06-30 14527932 frs-bus:Director2 2023-07-01 2024-06-30 14527932 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 14527932 frs-countries:EnglandWales 2023-07-01 2024-06-30 14527932 2022-12-06 14527932 2023-06-30 14527932 2022-12-07 2023-06-30 14527932 frs-core:CurrentFinancialInstruments 2023-06-30 14527932 frs-core:ShareCapital 2023-06-30 14527932 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 14527932
Fibersense UK Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Goodwille Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14527932
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 122,674 -
122,674 -
CURRENT ASSETS
Debtors 5 49,532 -
Cash at bank and in hand 43,462 500
92,994 500
Creditors: Amounts Falling Due Within One Year 6 (461,222 ) (83,915 )
NET CURRENT ASSETS (LIABILITIES) (368,228 ) (83,415 )
TOTAL ASSETS LESS CURRENT LIABILITIES (245,554 ) (83,415 )
NET LIABILITIES (245,554 ) (83,415 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (245,555 ) (83,416 )
SHAREHOLDERS' FUNDS (245,554) (83,415)
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Englund
Director
26/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fibersense UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14527932 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Though the Company is operating at a loss, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10 year straight line
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.9. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.10. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.11. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.12. Disclosure of long or short period
The company was incorporated on 7 December 2022 and prepared it's first set of accounts to 30 June 2023. The comparatives therefore reflect a shorter period than the current 12 months to 30 June 2024.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: NIL)
1 -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 -
Additions 122,674
As at 30 June 2024 122,674
Net Book Value
As at 30 June 2024 122,674
As at 1 July 2023 -
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5. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 33,874 -
VAT 15,658 -
49,532 -
6. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 88,841 -
Other taxes and social security 50,014 -
Other creditors 875 -
Accruals and deferred income 7,923 1,000
Amounts owed to group undertakings 313,569 82,915
461,222 83,915
7. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 1 1
8. Dividends
No dividends were proposed or paid during the current year or prior period. 
9. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Fiber Sense Limited , incorporated in Australia. Copies of the group accounts may be obtained from the secretary, 1A/1110 Middle Head Road, Mosman, New South Wales, 2088 . The ultimate controlling party is Fiber Sense Limited who controls 100% of the shares of Fibersense UK Ltd .
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