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REGISTERED NUMBER: 02993638 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VISICAN LIMITED

VISICAN LIMITED (REGISTERED NUMBER: 02993638)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VISICAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Bannister
Y Lawrence
A Lett





REGISTERED OFFICE: 115 Phillips Street
Aston
Birmingham
West Midlands
B6 4PT





REGISTERED NUMBER: 02993638 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

VISICAN LIMITED (REGISTERED NUMBER: 02993638)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible Assets 4 415,378 334,689

CURRENT ASSETS
Stocks 671,309 833,991
Debtors 5 2,723,765 2,362,298
Cash at bank and in hand 344,429 333,558
3,739,503 3,529,847
CREDITORS
Amounts falling due within one year 6 1,052,324 1,215,890
NET CURRENT ASSETS 2,687,179 2,313,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,102,557

2,648,646

CREDITORS
Amounts falling due after more than
one year

7

(182,278

)

(120,833

)

PROVISIONS FOR LIABILITIES (66,244 ) (38,623 )
NET ASSETS 2,854,035 2,489,190

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 2,654,035 2,289,190
SHAREHOLDERS' FUNDS 2,854,035 2,489,190

VISICAN LIMITED (REGISTERED NUMBER: 02993638)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





Y Lawrence - Director


VISICAN LIMITED (REGISTERED NUMBER: 02993638)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Visican 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold property - Straight line over 10 years
Plant and machinery - Straight line over 6 years
Fixtures and fittings - Straight line over 4 years
Website - Straight line over 4 years

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, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 45 ) .

VISICAN LIMITED (REGISTERED NUMBER: 02993638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE ASSETS
Long Fixtures
leasehold Plant and and
property machinery fittings Website Totals
£    £    £    £    £   
COST
At 1 January 2023 24,004 443,618 35,022 6,500 509,144
Additions 170,010 6,278 11,900 - 188,188
At 31 December 2023 194,014 449,896 46,922 6,500 697,332
DEPRECIATION
At 1 January 2023 4,801 149,527 18,502 1,625 174,455
Charge for year 19,401 74,748 11,725 1,625 107,499
At 31 December 2023 24,202 224,275 30,227 3,250 281,954
NET BOOK VALUE
At 31 December 2023 169,812 225,621 16,695 3,250 415,378
At 31 December 2022 19,203 294,091 16,520 4,875 334,689

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 356,595 575,424
Amounts owed by group undertakings 2,270,238 1,700,785
Other debtors 96,932 86,089
2,723,765 2,362,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans 50,000 50,000
Hire purchase contracts (see note 8)
29,975

-
Trade creditors 720,897 892,152
Taxation and social security 223,748 245,720
Other creditors 27,704 28,018
1,052,324 1,215,890

VISICAN LIMITED (REGISTERED NUMBER: 02993638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 70,833 120,833
Hire purchase contracts (see note 8)
111,445

-
182,278 120,833

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 29,975 -
Between one and five years 111,445 -
141,420 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 255,691 257,624
Between one and five years 255,691 255,691
In more than five years 1,314,871 1,570,563
1,826,253 2,083,878

9. CONTINGENT LIABILITIES

The Company is party to a debenture providing security via a fixed and floating charge, for present and future obligations, in relation to a liability of its parent company, Visican Holdings Limited. The potential liability at the year end was £1,275,958 (2022: £1,638,820).

10. CONTROLLING PARTY

In the opinion of the directors, Visican Holdings Limited is the company’s ultimate parent and controlling party by virtue of its 100% shareholding in Visican Group Limited at 31 December 2023.