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Registered Number:SC673483














ANSA DATA ANALYTICS LIMITED





FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024

 
ANSA DATA ANALYTICS LIMITED
 

CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 9


 
ANSA DATA ANALYTICS LIMITED
REGISTERED NUMBER:SC673483

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
973,890
1,003,968

Tangible assets
 6 
14,423
14,273

  
988,313
1,018,241

Current assets
  

Debtors: amounts falling due within one year
 7 
363,899
254,566

Cash at bank and in hand
 8 
45,743
2,811

  
409,642
257,377

Creditors: amounts falling due within one year
 9 
(2,253,238)
(2,285,748)

Net current liabilities
  
 
 
(1,843,596)
 
 
(2,028,371)

Total assets less current liabilities
  
(855,283)
(1,010,130)

  

Net liabilities
  
(855,283)
(1,010,130)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(855,284)
(1,010,131)

  
(855,283)
(1,010,130)


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: 




A Walsh
Director

Date: 6 June 2025

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
ANSA DATA ANALYTICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

ANSA Data Analytics Limited is a private company limited by shares incorporated in Scotland. The registered office is 28 Albyn Place, Aberdeen, United Kingdom, AB10 1YL. The principal place of business is Viking House, 1 Claymore Avenue, Aberdeen Energy Park, Aberdeen, AB23 8GW.

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

As at 31 December 2024 the company has net current liabilities of £1,919,920 which includes £2,089,703 due to other group companies. The company is reliant on the continued availability of advances from other group companies. Going concern is assessed by the Read Ansa Top Holding AS Group as a whole, with consideration given to the current and expected performance forecasts of the group and the continued support of the ultimate shareholders. Management have prepared forecasts for the period to 31 December 2025, which indicate that further funding may be required in the short term. The ultimate parent company, Read Ansa Top Holding AS, has provided confirmation that it will support the company for a period of at least 12 months from the date of signing these financial statements.
As with any company placing reliance on other group entities for financial support, the directors acknowledge there can be no certainty that this support will continue although, at the date of approval of these financial statements, the have no reason to believe that it will not do so.
On that basis, and along with recent results and forecasts, the directors have made a reasonable expectation that it is appropriate to adopt the going concern basis in the preparation of the financial statements and are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

Page 2

 
ANSA DATA ANALYTICS LIMITED
 

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

2.Accounting policies (continued)

 
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
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.

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

 
ANSA DATA ANALYTICS LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Interest income

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

 
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 contributes to 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.

 
2.8

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

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.

The estimated useful lives range as follows:
             Computer Software                     - 5 years
Amortisation commences when the software is brought to use.

 
2.10

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.

Page 4

 
ANSA DATA ANALYTICS LIMITED
 

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

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Computer equipment
-
3 years

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

  
2.14

Financial Instruments

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The directors consider the carrying value of the internally developed software asset on a regular basis taking account of expected future product sales. The projected future revenues require estimation and the directors have concluded at the year end that, based on this estimate, the carrying value of the assets, disclosed at Note 5, are appropriate. 


4.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 13).

Page 5

 
ANSA DATA ANALYTICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Computer software

£



Cost


At 1 January 2024
1,122,034


Additions
171,167



At 31 December 2024

1,293,201



Amortisation


At 1 January 2024
118,066


Charge for the year on owned assets
201,245



At 31 December 2024

319,311



Net book value



At 31 December 2024
973,890



At 31 December 2023
1,003,968

The intangible assets include software developed for which certain items have not been amortised as the software is in its development phase.



Page 6

 
ANSA DATA ANALYTICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
34,445


Additions
9,679



At 31 December 2024

44,124



Depreciation


At 1 January 2024
20,172


Charge for the year on owned assets
9,529



At 31 December 2024

29,701



Net book value



At 31 December 2024
14,423



At 31 December 2023
14,273


7.


Debtors

2024
2023
£
£


Trade debtors
93,810
86,544

Amounts owed by group undertakings
84,805
25,145

Amounts owed by related parties
76,324
-

Other debtors
71,217
81,484

Prepayments and accrued income
37,743
61,393

363,899
254,566



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
45,743
2,811

45,743
2,811


Page 7

 
ANSA DATA ANALYTICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20,498
136,931

Amounts owed to group undertakings
2,089,703
1,987,610

Other taxation and social security
80,497
106,587

Other creditors
7,704
7,174

Accruals and deferred income
54,836
47,446

2,253,238
2,285,748



10.


Security and guarantees

The company has in place guarantees totalling £20,000 in favour of a customer which are repayable on
completion of the contracted terms.


11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
45,743
2,811




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
-
38,000

-
38,000


13.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contribtions payable by the Company to the fund and amounted to £37,625 (2023 - £35,649). Contributions totalling £7,699 (2023 - £7,174) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
ANSA DATA ANALYTICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Related party transactions

The Company has taken advantage of the exemption available in accordance with section 33 of FRS102 "Related Party Disclosures" not to disclose related party transactions with any wholly owned members of the group.


15.


Controlling party

For the period to 19 December 2024, the immediate and ultimate parent company was Hydrawell Holding AS, a company registered in Norway. The results for the Company up until this point will be included in the consolidated financial statements of Hydrawell Holding AS, available from Norse Base, Bygg 104, 4056 Tananger, Norway. 
On 19 December 2024, the company became a subsidiary undertaking of Read Ansa Holding AS, a company registered in Norway. The ultimate parent company is Read Ansa Top Holding AS.
There is no ultimate controlling party.


16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 6 June 2025 by Christopher Masson (Senior Statutory Auditor) on behalf of Anderson Anderson & Brown Audit LLP.


Page 9