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Registration number: 10439000

Illuminae (U.K.) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

Pages for filing with Registrar

 

Illuminae (U.K.) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Illuminae (U.K.) Limited

Company Information

Directors

J M Amaral

R Nair

L A Morea

Registered office

First Floor
Templeback
10 Temple Back
Bristol
BS1 6FL

Registered number

10439000

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Illuminae (U.K.) Limited

(Registration number: 10439000)
Balance Sheet as at 31 December 2023

Note

2023
$

2022
$

Current assets

 

Debtors

4

2,743,601

2,677,388

Cash at bank and in hand

 

-

7,959

 

2,743,601

2,685,347

Creditors: Amounts falling due within one year

5

(3,297,998)

(3,141,611)

Net liabilities

 

(554,397)

(456,264)

Capital and reserves

 

Called up share capital

240,924

240,924

Foreign currency translation reserve

33,377

69,135

Profit and loss account

(828,698)

(766,323)

Total equity

 

(554,397)

(456,264)

 

Illuminae (U.K.) Limited

(Registration number: 10439000)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 8 May 2025 and signed on its behalf by:
 

.........................................

R Nair
Director

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor
Templeback
10 Temple Back
Bristol
BS1 6FL

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in US Dollars which is the presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest $. The company's functional currency is pound sterling.

Going concern

These financial statements are prepared on the Going Concern basis. The parent company has confirmed that it would provide this financial support for a period of at least 12 months from when the financial statements are approved. Since the year end the company has traded at a break even level.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Computer equipment

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include trade and other receivables, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables , bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 5).

4

Debtors: amounts falling due within one year

Note

2023
$

2022
$

Amounts owed by group undertakings

7

2,743,563

2,676,498

Prepayments

 

38

661

Directors' loan accounts

 

-

229

 

2,743,601

2,677,388

Amounts owed by group undertakings reflect those amounts outstanding at the period end from fellow group entities. The amounts are repayable on demand with no interest accruing .

5

Creditors

Note

2023
$

2022
$

Amounts falling due within one year

 

Trade creditors

 

-

1,563

Amounts owed to group undertakings

7

3,292,180

3,117,062

Taxation and social security

 

2,984

18,506

Other creditors

 

-

1,288

Accruals

 

2,834

3,192

 

3,297,998

3,141,611

Amounts due to group undertakings reflect those amounts outstanding at the period end owed to fellow group entities. The amounts are unsecured, repayable on demand and no interest accrues on these amounts.

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

$

No.

$

Ordinary shares of $1.20 each

200,000

240,924

200,000

240,924

         

The company has one class of ordinary shares which carry no right to fixed income. Each share is entitled to one vote and when a dividend is declared the shares rank equally. Each share ranks equally for any distribution made on a winding up.

7

Related party transactions

Transactions with directors

2023

At 1 January 2023
$

Advances to director
$

Repayments by director
$

Foreign exchange movement
$

At 31 December 2023
$

Director

229

268

(510)

13

-

           
       

 

2022

At 1 January 2022
$

Advances to director
$

Foreign exchange movement
$

At 31 December 2022
$

Director

256

-

(27)

229

         
     

 

Summary of transactions with entities with joint control or significant interest

Income and receivables from related parties

2023

Entities with joint control or significant influence
$

Subsidiary
$

Other related parties
$

Amounts receivable from related party

18

1,369,274

1,721

 

Illuminae (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2022

Entities with joint control or significant influence
$

Subsidiary
$

Other related parties
$

Amounts receivable from related party

17

1,356,375

1,528

FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member. The balances below relate to the company’s non wholly-owned subsidiary.

8

Parent company

The ultimate controlling party is Mr L A Morea by virtue of his majority shareholding in Better Nutrition Limited.

The company's immediate parent company is Illuminae Limited, incorporated in England and Wales.

The ultimate parent company is Better Nutrition Limited, incorporated in Hong Kong.