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REGISTERED NUMBER: SC066712 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VOICE TECHNOLOGIES LIMITED

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)






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


VOICE TECHNOLOGIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: J L McPherson
J McDougall
D C M G Beggs
M Ross
M McCall
C Wood
I Garratt





REGISTERED OFFICE: 10 Shuttle Street
Paisley
PA1 1YD





REGISTERED NUMBER: SC066712 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

BALANCE SHEET
31 December 2023

31.12.22 31.12.23
£ £ Notes £ £
FIXED ASSETS
- Intangible assets 5 -
17,617 Tangible assets 6 18,492
- Investments 7 -
17,617 18,492

CURRENT ASSETS
51,406 Stocks 25,732
576,819 Debtors 8 561,940
966,129 Cash at bank and in hand 1,077,463
1,594,354 1,665,135
CREDITORS
770,649 Amounts falling due within one year 9 863,849
823,705 NET CURRENT ASSETS 801,286
841,322 TOTAL ASSETS LESS CURRENT
LIABILITIES

819,778

CREDITORS
(57,821 ) Amounts falling due after more than one year 10 (4,093 )

(1,485 ) PROVISIONS FOR LIABILITIES 13 (1,911 )
782,016 NET ASSETS 813,774

CAPITAL AND RESERVES
10,000 Called up share capital 14 10,000
772,016 Retained earnings 15 803,774
782,016 SHAREHOLDERS' FUNDS 813,774

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.

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

BALANCE SHEET - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:




J L McPherson - Director



J McDougall - Director


VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Voice Technologies Limited is a private company, limited by shares , registered in Scotland. 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Going concern
The company is continuing to trade as normal and accordingly the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax and adjusted for deferred maintenance income and other deferred contract income.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the cost at the balance sheet date plus a contribution to profit dependent on the status of services completed.Contract revenue is recognised when and to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the right to consideration.

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.

Development Costs are being amortised evenly over their estimated useful life of ten years.

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life, or if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - 2% on reducing balance and 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Research and development
Expenditure on research and development is charged to the profit & loss account in the year in which it is incurred, with the exception of expenditure on the development of new products where the outcome of these is assessed as being reasonably certain as regards visibility and technical feasibility. In such cases that expenditure will be capitalised and amortised evenly over a period of 10 years, commencing in the year that sales of the product are first made.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Amounts owed to the pension scheme at the Balance Sheet date are included in Other Creditors at Note 11.

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 30 ) .

5. INTANGIBLE FIXED ASSETS
Development
Costs
£
COST
At 1 January 2023
and 31 December 2023 476,522
AMORTISATION
At 1 January 2023
and 31 December 2023 476,522
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Computer
Totals to property fittings equipment
£ £ £ £
COST
At 1 January 2023 236,336 43,309 31,459 161,568
Additions 10,199 - - 10,199
At 31 December 2023 246,535 43,309 31,459 171,767
DEPRECIATION
At 1 January 2023 218,719 39,472 29,807 149,440
Charge for year 9,324 503 929 7,892
At 31 December 2023 228,043 39,975 30,736 157,332
NET BOOK VALUE
At 31 December 2023 18,492 3,334 723 14,435
At 31 December 2022 17,617 3,837 1,652 12,128

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Voice Technologies (UK) Ltd
Registered office:
Nature of business: Dormant company
%
Class of shares: holding
Ordinary £1 100.00

The directors believe that the investment in Voice Technologies (UK) Ltd is of no value (2022: £nil).

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 258,700 215,918
Amounts owed by group companies 217,292 216,831
Other debtors 85,948 144,070
561,940 576,819

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade creditors 89,610 39,442
Taxation and social security 128,832 94,645
Other creditors 645,407 636,562
863,849 770,649

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Other creditors 4,093 57,821

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£ £
Within one year 10,740 10,740
Between one and five years 27,745 38,485
38,485 49,225

VOICE TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC066712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

12. SECURED DEBTS

On 2 August 2019, Voice Technologies Trustees Limited (as a trustee for Voice Technologies Employee Benefit Trust) acquired the remaining 25% of Heather Wylie's ordinary shareholding in Scottish Voice Technologies Limited.

The securities in favour of Heather Wylie were satisfied on 15th August 2023.

At the balance sheet date, the debt owed by Voice Technologies Trustees Limited (as a trustee for Voice Technologies Employee Benefit Trust) to Heather Wylie was £NIL (2022:£34,880).

13. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£ £
Deferred tax 1,911 1,485

Deferred tax
£
Balance at 1 January 2023 1,485
Accelerated capital allowances 426
Balance at 31 December 2023 1,911

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
10,000 Ordinary £1 10,000 10,000

15. RESERVES
Retained
earnings
£

At 1 January 2023 772,016
Profit for the year 31,758
At 31 December 2023 803,774

16. ULTIMATE CONTROLLING PARTY

Following the 2019 acquisition of the balance of 100% of the issued ordinary share capital of Scottish Voice Technologies Limited (the immediate parent company of Voice Technologies Limited), Voice Technologies Trustees Limited (as a trustee for Voice Technologies Employee Benefit Trust) became the ultimate controlling party.