Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-16falsetrue2024-01-0172110 - Research and experimental development on biotechnology44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09750828 2024-01-01 2024-12-31 09750828 2023-01-01 2023-12-31 09750828 2024-12-31 09750828 2023-12-31 09750828 2023-01-01 09750828 c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09750828 d:Director3 2024-01-01 2024-12-31 09750828 c:OfficeEquipment 2024-01-01 2024-12-31 09750828 c:OfficeEquipment 2024-12-31 09750828 c:OfficeEquipment 2023-12-31 09750828 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09750828 c:ComputerEquipment 2024-01-01 2024-12-31 09750828 c:ComputerEquipment 2024-12-31 09750828 c:ComputerEquipment 2023-12-31 09750828 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09750828 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09750828 c:CurrentFinancialInstruments 2024-12-31 09750828 c:CurrentFinancialInstruments 2023-12-31 09750828 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 09750828 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09750828 c:ShareCapital 2024-01-01 2024-12-31 09750828 c:ShareCapital 2024-12-31 09750828 c:ShareCapital 2023-01-01 2023-12-31 09750828 c:ShareCapital 2023-12-31 09750828 c:ShareCapital 2023-01-01 09750828 c:SharePremium 2024-01-01 2024-12-31 09750828 c:SharePremium 2024-12-31 09750828 c:SharePremium 2023-01-01 2023-12-31 09750828 c:SharePremium 2023-12-31 09750828 c:SharePremium c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09750828 c:SharePremium 2023-01-01 09750828 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09750828 c:RetainedEarningsAccumulatedLosses 2024-12-31 09750828 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09750828 c:RetainedEarningsAccumulatedLosses 2023-12-31 09750828 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09750828 c:RetainedEarningsAccumulatedLosses 2023-01-01 09750828 d:OrdinaryShareClass1 2024-01-01 2024-12-31 09750828 d:OrdinaryShareClass1 2024-12-31 09750828 d:OrdinaryShareClass1 2023-12-31 09750828 d:FRS102 2024-01-01 2024-12-31 09750828 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09750828 d:FullAccounts 2024-01-01 2024-12-31 09750828 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09750828 e:PoundSterling 2024-01-01 2024-12-31 09750828 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 09750828 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-01-01 09750828 c:PreviouslyStatedAmount 2023-01-01 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09750828










SONOSINE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024



 
SONOSINE LIMITED
REGISTERED NUMBER: 09750828

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,897
3,874

  
3,897
3,874

Current assets
  

Debtors: amounts falling due within one year
 5 
87,740
114,734

Cash at bank and in hand
 6 
13,497
36,618

  
101,237
151,352

Creditors: amounts falling due within one year
 7 
(302,523)
(33,500)

Net current (liabilities)/assets
  
 
 
(201,286)
 
 
117,852

Total assets less current liabilities
  
(197,389)
121,726

  

Net (liabilities)/assets
  
(197,389)
121,726


Capital and reserves
  

Called up share capital 
 8 
99
99

Share premium account
  
3,017,599
3,018,008

Profit and loss account
  
(3,215,087)
(2,896,381)

  
(197,389)
121,726


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.
 
Page 1

 
SONOSINE LIMITED
REGISTERED NUMBER: 09750828

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


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




D Herbada
Director

Date: 16 May 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
SONOSINE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023 (as previously stated)
95
2,492,371
(2,517,920)
(25,454)

Prior year adjustment - correction of error
-
-
(7,300)
(7,300)


At 1 January 2023 (as restated)
95
2,492,371
(2,525,220)
(32,754)


Comprehensive income for the year

Loss for the year
-
-
(371,161)
(371,161)

Shares issued during the year
4
525,637
-
525,641



At 1 January 2024
99
3,018,008
(2,896,381)
121,726


Comprehensive income for the year

Loss for the year
-
-
(318,706)
(318,706)

Correcting adjustment
-
(409)
-
(409)


At 31 December 2024
99
3,017,599
(3,215,087)
(197,389)


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
SONOSINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sonosine Limited is a private company limited by shares and incorporated in England and Wales. The registered address and principal place of business is The Centre for Innovation and Enterprise, Begbroke Science Park, Begbroke Hill, Woodstock Road, Begbroke, Oxfordshire, OX5 1PF.
The principal activity of the Company is the development of electromagnetic and acoustic imaging systems for use in clinical diagnostics. 

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

Going concern

The Company has incurred a loss for the year of £401,082 (2023: £371,161) and has net liabilities of £279,765 (2023: net assets of £121,726). The Company is continuing to grow and invest in research and development with the continued support of its investors and considers the cash flows of the Company to be sufficient to ensure the Company remains a going concern.
Based on the above, the Directors are of the opinion that the going concern principle is applicable and that the Company has the necessary resources to continue as a going concern for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
SONOSINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

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.

Page 5

 
SONOSINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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:

Office equipment
-
25%
Computer equipment
-
33%

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 4 (2023 - 4).

Page 6

 
SONOSINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
21,502
7,677
29,179


Additions
-
2,747
2,747



At 31 December 2024

21,502
10,424
31,926



Depreciation


At 1 January 2024
18,102
7,203
25,305


Charge for the year on owned assets
1,563
1,161
2,724



At 31 December 2024

19,665
8,364
28,029



Net book value



At 31 December 2024
1,837
2,060
3,897



At 31 December 2023
3,400
474
3,874


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
3,494
4,192

Other debtors
1,870
3,522

Called up share capital not paid
-
32,653

Tax recoverable
82,376
74,367

87,740
114,734



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,497
36,618


Page 7

 
SONOSINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
46,607
14,653

Other taxation and social security
9,799
12,524

Other creditors
239,388
-

Accruals and deferred income
6,729
6,323

302,523
33,500



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



99,405 (2023 - 99,405) Ordinary shares of £0.001 each
99.405
99.405

During the year, an adjustment of £409 has been posted to correct the share premium.



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £29,119 (2023: £27,701). Contributions totalling £3,927 (2023 - £2,778) were payable to the fund at the balance sheet date and are included in creditors.


Page 8