3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 12,714 1,648 1,271 2,919 9,795 11,066 xbrli:pure xbrli:shares iso4217:GBP 12693245 2022-02-01 2023-01-31 12693245 2023-01-31 12693245 2022-01-31 12693245 2021-02-01 2022-01-31 12693245 2022-01-31 12693245 2021-01-31 12693245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-01 2023-01-31 12693245 bus:Director1 2022-02-01 2023-01-31 12693245 bus:Director2 2022-02-01 2023-01-31 12693245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 12693245 core:PatentsTrademarksLicencesConcessionsSimilar 2022-01-31 12693245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 12693245 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 12693245 core:PatentsTrademarksLicencesConcessionsSimilar 2022-02-01 2023-01-31 12693245 core:WithinOneYear 2023-01-31 12693245 core:WithinOneYear 2022-01-31 12693245 core:AfterOneYear 2023-01-31 12693245 core:AfterOneYear 2022-01-31 12693245 core:ShareCapital 2023-01-31 12693245 core:ShareCapital 2022-01-31 12693245 core:RetainedEarningsAccumulatedLosses 2023-01-31 12693245 core:RetainedEarningsAccumulatedLosses 2022-01-31 12693245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 12693245 core:PatentsTrademarksLicencesConcessionsSimilar 2022-01-31 12693245 bus:SmallEntities 2022-02-01 2023-01-31 12693245 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12693245 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12693245 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12693245 bus:FullAccounts 2022-02-01 2023-01-31 12693245 core:CommunicationNetworkEquipment 2022-02-01 2023-01-31 12693245 core:CommunicationNetworkEquipment 2023-01-31 12693245 core:CommunicationNetworkEquipment 2022-01-31
COMPANY REGISTRATION NUMBER: 12693245
SEN PROFESSIONAL SOFTWARE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2023
SEN PROFESSIONAL SOFTWARE LTD
STATEMENT OF FINANCIAL POSITION
31 January 2023
2023
2022
Note
£
£
FIXED ASSETS
Intangible assets
5
20,308
22,376
Tangible assets
6
9,795
11,066
--------
--------
30,103
33,442
CURRENT ASSETS
Debtors
7
6,451
648
Cash at bank and in hand
3,095
-------
-------
6,451
3,743
CREDITORS: amounts falling due within one year
8
16,997
14,712
--------
--------
NET CURRENT LIABILITIES
10,546
10,969
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
19,557
22,473
CREDITORS: amounts falling due after more than one year
9
39,179
45,000
--------
--------
NET LIABILITIES
( 19,622)
( 22,527)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 19,722)
( 22,627)
--------
--------
SHAREHOLDERS DEFICIT
( 19,622)
( 22,527)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SEN PROFESSIONAL SOFTWARE LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2023 , and are signed on behalf of the board by:
Mrs S A J Bannock
Dr L G Bannock
Director
Director
Company registration number: 12693245
SEN PROFESSIONAL SOFTWARE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors believe that the company is experiencing good levels of sales growth and profitability and that it is well-placed to manage its business risk successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
20% straight line
Trademark & intellectual property
-
10-20% Straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Website
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. INTANGIBLE ASSETS
Development costs
Patents, trademarks and licences
Total
£
£
£
Cost
At 1 February 2022
10,200
15,982
26,182
Additions
2,100
729
2,829
--------
--------
--------
At 31 January 2023
12,300
16,711
29,011
--------
--------
--------
Amortisation
At 1 February 2022
420
3,386
3,806
Charge for the year
2,425
2,472
4,897
--------
--------
--------
At 31 January 2023
2,845
5,858
8,703
--------
--------
--------
Carrying amount
At 31 January 2023
9,455
10,853
20,308
--------
--------
--------
At 31 January 2022
9,780
12,596
22,376
--------
--------
--------
6. TANGIBLE ASSETS
Website
Total
£
£
Cost
At 1 February 2022 and 31 January 2023
12,714
12,714
--------
--------
Depreciation
At 1 February 2022
1,648
1,648
Charge for the year
1,271
1,271
--------
--------
At 31 January 2023
2,919
2,919
--------
--------
Carrying amount
At 31 January 2023
9,795
9,795
--------
--------
At 31 January 2022
11,066
11,066
--------
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
6,451
Other debtors
648
-------
----
6,451
648
-------
----
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,537
Trade creditors
2,609
306
Social security and other taxes
416
356
Other creditors
9,435
14,050
--------
--------
16,997
14,712
--------
--------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Other creditors
39,179
45,000
--------
--------
10. RELATED PARTY TRANSACTIONS
The company received a loan from the parent company in 2021, The IOPN Ltd. The loan advanced was £50,000, fixed rate 2.5% over 5 years, amount outstanding at 31st January 2023 £39,179 (2022: £48,753).
11. CONTROLLING PARTY
The company is a wholly owned subsidiary undertaking of The IOPN Ltd, company number 07710171, registered in England & Wales.