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REGISTERED NUMBER: 09520350 (England and Wales)




















Unaudited Financial Statements

for the Period 1 October 2021 to 31 March 2023

for

Vectorcide International Limited

Vectorcide International Limited (Registered number: 09520350)






Contents of the Financial Statements
for the Period 1 October 2021 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vectorcide International Limited

Company Information
for the Period 1 October 2021 to 31 March 2023







DIRECTOR: T J F Coombs





REGISTERED OFFICE: Lennox House
3 Pierrepont Street
Bath
Somerset
BA1 1LB





REGISTERED NUMBER: 09520350 (England and Wales)

Vectorcide International Limited (Registered number: 09520350)

Balance Sheet
31 March 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,600,000 2,600,000
Tangible assets 6 920 2,720
Investments 7 - 16,000
2,600,920 2,618,720

CURRENT ASSETS
Stocks 15,994 -
Debtors 8 228,402 9,774
Cash at bank 142 75,075
244,538 84,849
CREDITORS
Amounts falling due within one year 9 136,808 103,380
NET CURRENT ASSETS/(LIABILITIES) 107,730 (18,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,708,650

2,600,189

CREDITORS
Amounts falling due after more than one
year

10

76,500

127,500
NET ASSETS 2,632,150 2,472,689

CAPITAL AND RESERVES
Called up share capital 1,755 1,755
Share premium 3,111,149 3,111,149
Retained earnings (480,754 ) (640,215 )
SHAREHOLDERS' FUNDS 2,632,150 2,472,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2024 and were signed by:



T J F Coombs - Director


Vectorcide International Limited (Registered number: 09520350)

Notes to the Financial Statements
for the Period 1 October 2021 to 31 March 2023

1. STATUTORY INFORMATION

Vectorcide International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted Section 1A of FRS 102 in these financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied net of value added taxes.

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The cost of the intellectual property will be amortised over its estimated useful life once significant income in relation to the property begins to be generated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on straight line basis
Computer equipment - 33% on straight line basis

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised. Cost is calculated using the first-in, first-out method.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

Vectorcide International Limited (Registered number: 09520350)

Notes to the Financial Statements - continued
for the Period 1 October 2021 to 31 March 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Vectorcide International Limited (Registered number: 09520350)

Notes to the Financial Statements - continued
for the Period 1 October 2021 to 31 March 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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.

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 the profit and loss account.

Foreign exchange gains are presented in the profit and loss account within other operating income. Foreign exchange losses are presented in the profit and loss account within administrative expenses.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Share capital
Ordinary shares are classified as equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

Vectorcide International Limited (Registered number: 09520350)

Notes to the Financial Statements - continued
for the Period 1 October 2021 to 31 March 2023

5. INTANGIBLE FIXED ASSETS
Intellectual
property
£   
COST
At 1 October 2021
and 31 March 2023 2,600,000
NET BOOK VALUE
At 31 March 2023 2,600,000
At 30 September 2021 2,600,000

6. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2021 15,000 6,951 21,951
Disposals (15,000 ) - (15,000 )
At 31 March 2023 - 6,951 6,951
DEPRECIATION
At 1 October 2021 15,000 4,231 19,231
Charge for period - 1,800 1,800
Eliminated on disposal (15,000 ) - (15,000 )
At 31 March 2023 - 6,031 6,031
NET BOOK VALUE
At 31 March 2023 - 920 920
At 30 September 2021 - 2,720 2,720

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2021 16,000
Impairments (16,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 30 September 2021 16,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 226,750 8,569
Other debtors 250 899
VAT 1,402 306
228,402 9,774

Vectorcide International Limited (Registered number: 09520350)

Notes to the Financial Statements - continued
for the Period 1 October 2021 to 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 48,918 44,430
Trade creditors 8,019 -
Social security and other taxes 616 208
Other creditors 5,489 4,347
Directors' current accounts 69,817 41,781
Accruals and deferred income 3,949 12,614
136,808 103,380

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans - 1-2 years 34,000 34,000
Bank loans - 2-5 years 42,500 93,500
76,500 127,500

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2021
£    £   
Bank loans 110,500 161,500

Bank borrowings are secured via a fixed and floating charge in favour of HSBC plc over the assets and undertaking of the company.