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Registered number: 12346893









CANSENSE GROUP LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CANSENSE GROUP LTD
REGISTERED NUMBER:12346893

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
141,562
149,062

Investments
 5 
100
100

  
141,662
149,162

Current assets
  

Debtors: amounts falling due within one year
 6 
931,031
562,549

Cash at bank and in hand
  
1,306,154
1,227,032

  
2,237,185
1,789,581

Creditors: amounts falling due within one year
 7 
(14,130)
(28,851)

Net current assets
  
 
 
2,223,055
 
 
1,760,730

  

Net assets
  
2,364,717
1,909,892


Capital and reserves
  

Called up share capital 
  
680
680

Share premium account
 8 
1,649,706
1,649,706

Profit and loss account
 8 
714,331
259,506

Shareholders' funds
  
2,364,717
1,909,892


Page 1

 
CANSENSE GROUP LTD
REGISTERED NUMBER:12346893
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Dr A L Bryant
Director

Date: 22 July 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
CANSENSE GROUP LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
375
-
(7,105)
(6,730)



Profit for the year
-
-
266,611
266,611

Shares issued during the year
305
1,649,706
-
1,650,011



At 1 January 2023
680
1,649,706
259,506
1,909,892



Profit for the year
-
-
454,825
454,825


At 31 December 2023
680
1,649,706
714,331
2,364,717


Page 3

 
CANSENSE GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Cansense Group Ltd is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 12346893). The registered office address is Beech Gate Hurdle Way, Compton, Winchester, England, SO21 2AN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
CANSENSE GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 5 (2022 -4).

Page 5

 
CANSENSE GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
150,000



At 31 December 2023

150,000



Amortisation


At 1 January 2023
938


Charge for the year
7,500



At 31 December 2023

8,438



Net book value



At 31 December 2023
141,562



At 31 December 2022
149,062



Page 6

 
CANSENSE GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
100



At 31 December 2023
100





6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
911,358
556,438

Prepayments and accrued income
-
1,302

Tax recoverable
19,673
4,809

931,031
562,549



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,930
-

Accruals and deferred income
3,200
28,851

14,130
28,851


Page 7

 
CANSENSE GROUP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Reserves

Share premium account

The share premium account is used to record the aggregate amount or value of premiums paid when the Company's shares are issued at an amount in excess of nominal value. This includes amounts paid by shareholders in return for intangible assets in excess of the par value of share capital.

Profit and loss account

This reserve relates to the cumulative retained earnings less amounts distributed to shareholders.

 
Page 8