Year Ended
Registration number:
Laseraid International Group Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Laseraid International Group Limited
Balance Sheet
31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
|
|
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 12888511
Laseraid International Group Limited
Notes to the Financial Statements
Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling, rounded to the nearest whole pound.
Going concern
In determining the appropriate basis of preparation for the financial statements, the Directors are required to consider whether the company can continue in operational existence for the foreseeable future, being a period of not less than twelve months from the date of approval of these financial statements.
The directors have prepared cashflow forecasts to determine whether the company has sufficient cash to meet its obligations as they fall due for a period of at least twelve months from the date of approval of these financial statements. The forecasts are based on a number of assumptions such as devices on subscription, device sales, headcount and level of debt and equity funding available available through the continued support of shareholders. At the time of signing these accounts, the shareholders are in the process of investing a further £508,582 of which £66,790 will be offset against existing and future Creditor payments with a connected entity.
Based on the cashflow forecasts, the Directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.
Laseraid International Group Limited
Notes to the Financial Statements
Year Ended 31 March 2023
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intellectual property |
5 years straight line |
Investments
Fixed asset investments in subsidiaries are stated at cost less provision for diminution in value.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Laseraid International Group Limited
Notes to the Financial Statements
Year Ended 31 March 2023
Intangible assets |
Intellectual property |
Total |
|
Cost or valuation |
||
At 1 April 2022 |
|
|
At 31 March 2023 |
|
|
Amortisation |
||
At 1 April 2022 |
|
|
Amortisation charge |
|
|
At 31 March 2023 |
|
|
Carrying amount |
||
At 31 March 2023 |
|
|
At 31 March 2022 |
|
|
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost |
|
At 1 April 2022 |
|
Additions |
|
At 31 March 2023 |
|
Carrying amount |
|
At 31 March 2023 |
|
At 31 March 2022 |
|
Laseraid International Group Limited
Notes to the Financial Statements
Year Ended 31 March 2023
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2023 |
2022 |
|||
Subsidiary undertakings |
||||
|
England and Wales |
|
|
|
Subsidiary undertakings |
Laseraid UK Limited The principal activity of Laseraid UK Limited is |
Debtors |
Note |
2023 |
2022 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
Other debtors |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Trade creditors |
- |
|
Other creditors |
- |
|
Accruals and deferred income |
|
|
|
|
Laseraid International Group Limited
Notes to the Financial Statements
Year Ended 31 March 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
4,255,884 |
|
3,125,882 |
|
|
20,000 |
|
20,000 |
|
|
|
|
During the year the company allotted 1,130,002 Ordinary £1 shares.
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Non adjusting events after the financial period |
|
Audit report |