Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-3122software developmenttruetrue2021-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10768451 2021-01-01 2021-12-31 10768451 2020-01-01 2020-12-31 10768451 2021-12-31 10768451 2020-12-31 10768451 c:Director1 2021-01-01 2021-12-31 10768451 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 10768451 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-12-31 10768451 d:CurrentFinancialInstruments 2021-12-31 10768451 d:CurrentFinancialInstruments 2020-12-31 10768451 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10768451 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10768451 d:ShareCapital 2021-12-31 10768451 d:ShareCapital 2020-12-31 10768451 d:RetainedEarningsAccumulatedLosses 2021-12-31 10768451 d:RetainedEarningsAccumulatedLosses 2020-12-31 10768451 c:OrdinaryShareClass1 2021-01-01 2021-12-31 10768451 c:OrdinaryShareClass1 2021-12-31 10768451 c:FRS102 2021-01-01 2021-12-31 10768451 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 10768451 c:FullAccounts 2021-01-01 2021-12-31 10768451 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10768451 4 2021-01-01 2021-12-31 10768451 6 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10768451









VESALIUS HOLDING LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 
VESALIUS HOLDING LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
VESALIUS HOLDING LTD
REGISTERED NUMBER:10768451

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
439,275
439,275

Current assets
  

Debtors: amounts falling due within one year
 5 
3,929
-

Cash at bank and in hand
  
5,266
2,539

Current liabilities
  
9,195
2,539

Creditors: amounts falling due within one year
 6 
(707,163)
(688,157)

Net current liabilities
  
 
 
(697,968)
 
 
(685,618)

Net liabilities
  
(258,693)
(246,343)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(258,694)
(246,344)

  
(258,693)
(246,343)


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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2022.



R W Fanconi
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
VESALIUS HOLDING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Vesalius Holding Limited is a limited liability company incorporated in England and Wales with its principal place of business and registered office at 6th Floor, One London Wall, London, EC2Y 5EB.
The principal activity of the Company continued to be that of software development.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is funded by the financial support of its shareholder. Based on this support, the directors are satisfied that the Company will continue to have sufficient resources made available to enable it to meet its working capital requirements and settle its liabilities as they fall due. Accordingly, they have continued to adopt the going concern basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling .

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.

 
2.4

Intangible assets - research and development

Research expenditure is expensed in the period in which it is incurred. Where a product is technically feasible, production and sale are intended, a market exists, expenditure can be measured reliably, and sufficient resources are available to complete the project, development costs are capitalised as an intangible asset and amortised on a straight-line basis over the estimated useful life of the respective product from the commencement of commercial exploitation.

Page 2

 
VESALIUS HOLDING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Impairment of intangible assets

Intangible asset are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at the transaction price.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 3

 
VESALIUS HOLDING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Intangible assets




Development costs

£



Cost


At 1 January 2021
439,275



At 31 December 2021

439,275






Net book value



At 31 December 2021
439,275



At 31 December 2020
439,275


The individual intangible assets, which are material to the financial statements, comprise costs for the development of a virtual reality system for theatrical performances. The directors are evaluating the exploitation of the asset as the concept is being proven by the recent launch of Voyage by Abba, which follows the same concept. The directors therefore consider no amortisation of the development costs should be applied to date.    



5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
3,929
-



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
5
65

Amounts owed to group undertakings
704,158
685,092

Accruals and deferred income
3,000
3,000

707,163
688,157


Page 4

 
VESALIUS HOLDING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1



8.


Controlling party

The ultimate parent company and controlling entity is Dimension Communication Limited, a company   registered in the British Virgin Islands.

 
Page 5