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REGISTERED NUMBER: 06295126 (England and Wales)













Financial Statements

for the Year Ended 30 June 2024

for

I-TELERAD UK LIMITED

I-TELERAD UK LIMITED (REGISTERED NUMBER: 06295126)






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


I-TELERAD UK LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: C L Battellino
S B Viranna





SECRETARY: S A Lattimer





REGISTERED OFFICE: C/O Company Secretarial Department
280 Bishopsgate
London
EC2M 4AG





REGISTERED NUMBER: 06295126 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

I-TELERAD UK LIMITED (REGISTERED NUMBER: 06295126)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 1

CURRENT ASSETS
Debtors 5 48,400 250,521
Cash at bank 61,381 356,897
109,781 607,418
CREDITORS
Amounts falling due within one year 6 837,349 106,612
NET CURRENT (LIABILITIES)/ASSETS (727,568 ) 500,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

(727,568

)

500,807

CAPITAL AND RESERVES
Called up share capital 7 3,825,010 3,825,010
Retained earnings (4,552,578 ) (3,324,203 )
SHAREHOLDERS' FUNDS (727,568 ) 500,807

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





S B Viranna - Director


I-TELERAD UK LIMITED (REGISTERED NUMBER: 06295126)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

I-TeleRAD UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis in light of the fact that the ultimate parent company, Image Holdco Pty Limited (incorporated in Australia), will continue to provide financial support to the company for a period of at least 12 months and 1 day following the sign off of the audit report and we have reviewed their financial information and concluded that there is nothing noted that causes doubt over their ability to provide this support.

Preparation of consolidated financial statements
The financial statements contain information about I-TeleRAD UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements

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 represents amounts charged to the company's parent company under an intragroup services agreement, excluding Value Added Tax. Turnover is recognised when chargeable costs are incurred.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

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.


I-TELERAD UK LIMITED (REGISTERED NUMBER: 06295126)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

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 year was 5 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 1
Disposals (1 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 1

During the year the company disposed of all subsidiary undertakings for consideration of £1. No gain or loss was recognised on disposal.

I-TELERAD UK LIMITED (REGISTERED NUMBER: 06295126)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed by group undertakings - 240,137
Other debtors 48,400 10,384
48,400 250,521

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed to group undertakings 746,315 -
Taxation and social security 49,027 39,264
Other creditors & accruals 42,007 67,348
837,349 106,612

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
3,825,010 Ordinary £1 3,825,010 3,825,010

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Florentin-Lee (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

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."

9. ULTIMATE CONTROLLING PARTY

The Company is a wholly-owned subsidiary undertaking of I-TeleRAD Pty Ltd, which in turn is an indirect subsidiary of Image Holdco Pty Ltd.

The smallest group company to prepare consolidated financial statements for statutory purposes is Image Holdco Pty Ltd, a company incorporated in Australia with its registered office situated at Level 12, 345 George Street, Sydney, NSW 2000, Australia. Consolidated accounts are not publicly available.