Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-04-01 false leasing medical equipment 1 1 false true false 11854495 2024-04-01 2025-03-31 11854495 2023-04-01 2024-03-31 11854495 2025-03-31 11854495 2024-03-31 11854495 c:Director1 2024-04-01 2025-03-31 11854495 d:PlantMachinery 2024-04-01 2025-03-31 11854495 d:PlantMachinery 2025-03-31 11854495 d:PlantMachinery 2024-03-31 11854495 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 11854495 d:CurrentFinancialInstruments 2025-03-31 11854495 d:CurrentFinancialInstruments 2024-03-31 11854495 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 11854495 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11854495 d:ShareCapital 2025-03-31 11854495 d:ShareCapital 2024-03-31 11854495 d:RetainedEarningsAccumulatedLosses 2025-03-31 11854495 d:RetainedEarningsAccumulatedLosses 2024-03-31 11854495 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2025-03-31 11854495 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 11854495 c:OrdinaryShareClass1 2024-04-01 2025-03-31 11854495 c:OrdinaryShareClass1 2025-03-31 11854495 c:OrdinaryShareClass1 2024-03-31 11854495 c:FRS102 2024-04-01 2025-03-31 11854495 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 11854495 c:FullAccounts 2024-04-01 2025-03-31 11854495 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11854495 2 2024-04-01 2025-03-31 11854495 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11854495 INTRAOP UK LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
INTRAOP UK LTD REGISTERED NUMBER: 11854495 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 46,563 |  | 232,822
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 24,625 |  | 75,096 |
Cash at bank and in hand | 7 | 3,780 |  | 405 |
|  | 28,405 |  | 75,501 |
Creditors: amounts falling due within one year | 8 | (2,362,263) |  | (2,404,717) |
Net current liabilities |  |  | (2,333,858) |  | (2,329,216)
Total assets less current liabilities |  |  | (2,287,295) |  | (2,096,394)
Net liabilities |  |  | (2,287,295) |  | (2,096,394)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | (2,287,297) |  | (2,096,396)
|  |  | (2,287,295) |  | (2,096,394)
The director considers 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 period in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his 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. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
K Landis
Director
Date: 30 December 2025
The notes on pages 2 to 7 form part of these financial statements. Page 1
INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
IntraOp UK Ltd is a private company, limited by shares, registered in England and Wales, company registration number 11854495. The registered office address is St. Martin's Court, 10 Paternoster Row, London, EC4M 7EJ. 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 net current liabilities of £2,333,858 (2024: £2,329,216) and total net liabilities of £2,287,295 (2024: £2,096,394) at the balance sheet date. The financial statements have been prepared on a going concern basis as the Company's owner, IntraOp Medical Corporation has indicated their ability and commitment to support the Company to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP rounded to the nearest £1. 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. Page 2
INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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: 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.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | 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:
|  |  |  | Plant and machinery | - | 20% |
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.
| 2.7 | 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. Page 3
INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Cash at bank and in hand
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.
| 2.9 | 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.
| 2.10 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Page 4
INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Depreciation policies are determined based on the useful economic life of the assets to which they relate which are based on historical experience. No other significant judgements have been made in the preparing these financial statements.
4. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 5
INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 April 2024 | 931,296
| At 31 March 2025 | 931,296
| Depreciation |
| At 1 April 2024 | 698,474
| Charge for the year on owned assets | 186,259
| At 31 March 2025 | 884,733
| Net book value |
| At 31 March 2025 | 46,563
| At 31 March 2024 | 232,822
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 20,205 | 72,426
| Other debtors | 4,418 | 2,668
| Called up share capital not paid | 2 | 2
|  | 24,625 | 75,096
7. | Cash at bank and in hand
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 3,780 | 405
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INTRAOP UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 106,513 | 148,967
| Other creditors | 2,250,000 | 2,250,000
| Accruals and deferred income | 5,750 | 5,750
|  | 2,362,263 | 2,404,717
9. | Financial instruments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Financial assets |  |
| Financial assets measured at fair value through profit or loss | 3,780 | 3,780
| Financial assets measured at fair value through profit or loss comprise...
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2 (2024 - 2) Ordinary Shares shares of £1.00 each | 2 | 2
11. | Related party transactions
| Included in amounts owed by group undertakings is £20,205 (2024: £72,426) due from IntraOp Medical Corporation, the parent company. This amount is unsecured, interest free and repayable on demand. At 31 March 2025, the company owed £2,250,000 (2024: £2,250,000) to El Seif Holdings UK Limited, a previous shareholder. This amount is unsecured, interest free and repayable on demand.
12. | Controlling party
At 31 March 2025, the parent company of IntraOp UK Ltd is IntraOp Medical Corporation, who is the parent of the smallest group that draws up consolidated financial statements including IntraOp UK Ltd. Their registered office is 570 Del Rey Ave, Sunnyvale, United States, CA 94085-3528.
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