IRIS Accounts Production v24.1.9.2 04315312 Board of Directors 31.10.23 1.11.22 31.10.23 31.10.23 the provision of international mobile communications solutions. true true false true true false false false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043153122022-10-31043153122023-10-31043153122022-11-012023-10-31043153122021-10-31043153122021-11-012022-10-31043153122022-10-3104315312ns15:EnglandWales2022-11-012023-10-3104315312ns14:PoundSterling2022-11-012023-10-3104315312ns10:Director12022-11-012023-10-3104315312ns10:Consolidated2023-10-3104315312ns10:ConsolidatedGroupCompanyAccounts2022-11-012023-10-3104315312ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3104315312ns10:Consolidatedns10:SmallEntities2022-11-012023-10-3104315312ns10:Consolidatedns10:Audited2022-11-012023-10-3104315312ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3104315312ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3104315312ns10:Consolidatedns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3104315312ns10:SmallCompaniesRegimeForAccountsns10:Consolidated2022-11-012023-10-3104315312ns10:FullAccounts2022-11-012023-10-3104315312ns5:Subsidiary12022-11-012023-10-3104315312ns5:Subsidiary22022-11-012023-10-310431531212022-11-012023-10-3104315312ns10:Consolidated2022-11-012023-10-3104315312ns10:Director22022-11-012023-10-3104315312ns10:Director32022-11-012023-10-3104315312ns10:Director42022-11-012023-10-3104315312ns10:Director52022-11-012023-10-3104315312ns10:Director62022-11-012023-10-3104315312ns10:CompanySecretary12022-11-012023-10-3104315312ns10:RegisteredOffice2022-11-012023-10-3104315312ns10:Consolidated2021-11-012022-10-3104315312ns5:CurrentFinancialInstruments2023-10-3104315312ns5:CurrentFinancialInstruments2022-10-3104315312ns5:ShareCapital2023-10-3104315312ns5:ShareCapital2022-10-3104315312ns5:RetainedEarningsAccumulatedLosses2023-10-3104315312ns5:RetainedEarningsAccumulatedLosses2022-10-3104315312ns5:NetGoodwill2022-11-012023-10-3104315312ns5:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3104315312ns5:IntangibleAssetsOtherThanGoodwill2022-10-3104315312ns5:IntangibleAssetsOtherThanGoodwill2023-10-3104315312ns5:IntangibleAssetsOtherThanGoodwill2022-10-3104315312ns5:PlantMachinery2022-10-3104315312ns5:PlantMachinery2022-11-012023-10-3104315312ns5:PlantMachinery2023-10-3104315312ns5:PlantMachinery2022-10-3104315312ns5:CostValuation2022-10-3104315312ns5:Subsidiary112022-11-012023-10-31043153123ns5:Subsidiary22022-11-012023-10-3104315312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3104315312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3104315312ns5:WithinOneYear2023-10-3104315312ns5:WithinOneYear2022-10-3104315312ns5:BetweenOneFiveYears2023-10-3104315312ns5:BetweenOneFiveYears2022-10-3104315312ns5:AllPeriods2023-10-3104315312ns5:AllPeriods2022-10-31
REGISTERED NUMBER: 04315312 (England and Wales)










VISMO LIMITED

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






VISMO LIMITED (REGISTERED NUMBER: 04315312)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3 to 6

Consolidated Income Statement 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Notes to the Consolidated Financial Statements 10 to 16


VISMO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: T J Williams
H J Williams
C M Dale
R J Harwood
C J Williams
P J Williams


SECRETARY: H J Williams


REGISTERED OFFICE: Park House
Clifton park
York
North Yorkshire
YO30 5PB


REGISTERED NUMBER: 04315312 (England and Wales)


AUDITORS: Thomas Coombs Limited
Statutory Auditor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB


BANKERS: HSBC
13 Parliament Street
York
YO1 8XS

VISMO LIMITED (REGISTERED NUMBER: 04315312)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST OCTOBER 2023


The directors present their report with the financial statements of the company and the group for the year ended 31st October 2023.

DIRECTORS
The directors shown below have held office during the whole period from 1st November 2022 to the date of this report.

T J Williams
H J Williams
C M Dale
R J Harwood
C J Williams
P J Williams

Other changes in directors after 31st October 2023 but prior to the date of this report are as follows:

C P Swallow - resigned 8th March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Thomas Coombs Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





T J Williams - Director


3rd April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VISMO LIMITED


Opinion
We have audited the financial statements of Vismo Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st October 2023 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st October 2023 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VISMO LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VISMO LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to cyber security and data protection. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, tax legislation and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to posting journal entries to manipulate profits, and management bias in accounting estimates, especially deferred income.

To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships.
- Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business.
- Investigated the rationale behind significant or unusual transactions.
- Challenged assumptions and judgements made by management in determining significant accounting estimates, in particular in relation to deferred income.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:
- Agreeing financial statements disclosures to underlying supporting documentation.
- Discussions with management of known or suspected instances of non-compliance with laws and regulations.
- Reviewing correspondence with HMRC, relevant regulators including The British Standards Institution and the company's legal advisors.

At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VISMO LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Thomas Bond ACA (Senior Statutory Auditor)
for and on behalf of Thomas Coombs Limited
Statutory Auditor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB

3rd April 2024

VISMO LIMITED (REGISTERED NUMBER: 04315312)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   

TURNOVER 1,825,754 1,257,821

Cost of sales 402,389 183,114
GROSS PROFIT 1,423,365 1,074,707

Distribution costs 851 2,756
Administrative expenses 1,591,170 1,268,751
1,592,021 1,271,507
OPERATING LOSS (168,656 ) (196,800 )

Exceptional items 4 12,308 -
(180,964 ) (196,800 )

Other finance income - 127,377
(180,964 ) (69,423 )

Interest payable and similar expenses 5 - 5,098
Other finance costs 90,125 -
90,125 5,098
LOSS BEFORE TAXATION (271,089 ) (74,521 )

Tax on loss 1,736 2,906
LOSS FOR THE FINANCIAL YEAR (272,825 ) (77,427 )

Loss attributable to:
Owners of the parent (272,825 ) (77,427 )

VISMO LIMITED (REGISTERED NUMBER: 04315312)

CONSOLIDATED BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 51,237 53,421
Tangible assets 8 24,104 28,659
Investments 9 - -
75,341 82,080

CURRENT ASSETS
Stocks 11,897 7,556
Debtors 10 519,896 319,999
Cash at bank 53,547 394,881
585,340 722,436
CREDITORS
Amounts falling due within one year 11 2,039,593 1,952,085
NET CURRENT LIABILITIES (1,454,253 ) (1,229,649 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,378,912 ) (1,147,569 )

CAPITAL AND RESERVES
Called up share capital 13 150,000 150,000
Retained earnings (1,528,912 ) (1,297,569 )
SHAREHOLDERS' FUNDS (1,378,912 ) (1,147,569 )

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

The financial statements were approved by the Board of Directors and authorised for issue on 3rd April 2024 and were signed on its behalf by:





T J Williams - Director


VISMO LIMITED (REGISTERED NUMBER: 04315312)

COMPANY BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 47,959 49,415
Tangible assets 8 17,295 19,762
Investments 9 7,283 7,283
72,537 76,460

CURRENT ASSETS
Stocks 9,238 7,556
Debtors 10 1,288,985 860,514
Cash at bank 24,456 394,791
1,322,679 1,262,861
CREDITORS
Amounts falling due within one year 11 1,897,011 1,947,822
NET CURRENT LIABILITIES (574,332 ) (684,961 )
TOTAL ASSETS LESS CURRENT LIABILITIES (501,795 ) (608,501 )

CAPITAL AND RESERVES
Called up share capital 13 150,000 150,000
Retained earnings (651,795 ) (758,501 )
SHAREHOLDERS' FUNDS (501,795 ) (608,501 )

Company's profit/(loss) for the financial year 106,706 (58,727 )

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

The financial statements were approved by the Board of Directors and authorised for issue on 3rd April 2024 and were signed on its behalf by:





T J Williams - Director


VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

Vismo 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 General 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.

The financial statements have been prepared on the going concern basis, which the directors believe to be appropriate given the continued financial support of the shareholders. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due.

Basis of consolidation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial reporting Standard 102- "The Financial reporting Standard applicable in the United Kingdom and Republic of Ireland" (FRS 102), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The group financial statements consolidate the financial statements of Vismo Limited and all its subsidiary undertakings.

The financial statements have been prepared in sterling. All monetary amounts in the financial statements are rounded to the nearest £.

The parent company has taken advantage of section 408 of the Companies Act and has not included its own income statement in these statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of hardware is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the establishment of Vismo Inc and Vismo LLC, subsidiaries incorporated in 2015, is to be amortised evenly over its useful life of 10 years starting 1st May 2018.

VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets acquired separately from a business are capitalised at cost. Intangible assets acquired on business combinations are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Trademarks - 10 to 20 years

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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:

I.T. , specialist software and know- how 5% to 20%
Fixtures and fittings10%
Motor vehicles20%

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the contracted rate or the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

The assets and liabilities of overseas subsidiary undertakings are translated at the closing exchange rates. Gains and losses arising on these translations are taken to reserves, net of exchange differences arising on related foreign currency borrowings.

Profits/losses of overseas subsidiary undertakings are translated at a monthly spot rate. Gains and losses arising on translation to the year end rate are taken through reserves.

VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investment in subsidiaries
The consolidated financial statements incorporate the financial statements of the company and its subsidiaries. Control is achieved when the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 3 (2022 - 1 ) .

4. EXCEPTIONAL ITEMS
2023 2022
£    £   
Exceptional items (12,308 ) -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest payable - 5,098

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


7. INTANGIBLE FIXED ASSETS

Group
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st November 2022 7,283 58,172 65,455
Additions - 1,977 1,977
At 31st October 2023 7,283 60,149 67,432
AMORTISATION
At 1st November 2022 3,277 8,757 12,034
Charge for year 728 3,433 4,161
At 31st October 2023 4,005 12,190 16,195
NET BOOK VALUE
At 31st October 2023 3,278 47,959 51,237
At 31st October 2022 4,006 49,415 53,421

Company
Other
intangible
assets
£   
COST
At 1st November 2022 58,172
Additions 1,977
At 31st October 2023 60,149
AMORTISATION
At 1st November 2022 8,757
Charge for year 3,433
At 31st October 2023 12,190
NET BOOK VALUE
At 31st October 2023 47,959
At 31st October 2022 49,415

VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


8. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1st November 2022 74,498
Additions 9,726
Exchange differences (3,216 )
At 31st October 2023 81,008
DEPRECIATION
At 1st November 2022 45,839
Charge for year 13,477
Exchange differences (2,412 )
At 31st October 2023 56,904
NET BOOK VALUE
At 31st October 2023 24,104
At 31st October 2022 28,659

Company
Plant and
machinery
etc
£   
COST
At 1st November 2022 39,918
Additions 5,397
At 31st October 2023 45,315
DEPRECIATION
At 1st November 2022 20,156
Charge for year 7,864
At 31st October 2023 28,020
NET BOOK VALUE
At 31st October 2023 17,295
At 31st October 2022 19,762

VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st November 2022
and 31st October 2023 7,283
NET BOOK VALUE
At 31st October 2023 7,283
At 31st October 2022 7,283

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

Subsidiaries

Vismo USA Inc
Registered office: 160 Greentree Drive, Suite 101, Dover, Kent, Delaware, 19904, U.S.A.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Vismo USA LLC
Registered office: 160 Greentree Drive, Suite 101, Dover, Kent, Delaware, 19904, U.S.A.
Nature of business: Communications
%
Class of shares: holding
Ordinary 100.00


10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 444,158 275,514 334,712 275,514
Amounts owed by group undertakings - - 890,331 547,023
Other debtors 75,738 44,485 63,942 37,977
519,896 319,999 1,288,985 860,514

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade creditors 35,779 16,559 21,960 16,559
Taxation and social security 20,795 28,208 19,255 28,208
Other creditors 1,983,019 1,907,318 1,855,796 1,903,055
2,039,593 1,952,085 1,897,011 1,947,822

VISMO LIMITED (REGISTERED NUMBER: 04315312)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 35,067 27,600
Between one and five years 20,700 48,300
55,767 75,900

Company
Non-cancellable operating leases
2023 2022
£    £   
Within one year 27,600 27,600
Between one and five years 20,700 48,300
48,300 75,900

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
107,250 Ordinary A £1 107,250 107,250
30,000 Ordinary B £1 30,000 30,000
12,750 Ordinary C £1 12,750 12,750
150,000 150,000