Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC463676 Mr Justin Birley Mr Mark Roger Mr Michiel Smith Dr Tobias Stone Mr Adam Wolman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC463676 2022-11-30 SC463676 2023-11-30 SC463676 2022-12-01 2023-11-30 SC463676 frs-core:Non-currentFinancialInstruments 2023-11-30 SC463676 frs-core:ComputerEquipment 2022-12-01 2023-11-30 SC463676 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 SC463676 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC463676 frs-core:PlantMachinery 2022-12-01 2023-11-30 SC463676 frs-core:SharePremium 2023-11-30 SC463676 frs-core:ShareCapital 2023-11-30 SC463676 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC463676 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC463676 frs-bus:AbridgedAccounts 2022-12-01 2023-11-30 SC463676 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC463676 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC463676 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC463676 frs-bus:Director1 2022-12-01 2023-11-30 SC463676 frs-bus:Director2 2022-12-01 2023-11-30 SC463676 frs-bus:Director3 2022-12-01 2023-11-30 SC463676 frs-bus:Director4 2022-12-01 2023-11-30 SC463676 frs-bus:Director5 2022-12-01 2023-11-30 SC463676 frs-countries:Scotland 2022-12-01 2023-11-30 SC463676 2021-11-30 SC463676 2022-11-30 SC463676 2021-12-01 2022-11-30 SC463676 frs-core:Non-currentFinancialInstruments 2022-11-30 SC463676 frs-core:SharePremium 2022-11-30 SC463676 frs-core:ShareCapital 2022-11-30 SC463676 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: SC463676
Ibisvision Limited
ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Ballantyne & Co
Chartered Accountants & Registered Auditors
60 St. Enoch Square
Glasgow
G1 4AG
Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC463676
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 450,850 394,352
Tangible Assets 5 7,205 3,414
458,055 397,766
CURRENT ASSETS
Debtors 20,853 12,328
Cash at bank and in hand 38,849 224,083
59,702 236,411
Creditors: Amounts Falling Due Within One Year (24,550 ) (50,785 )
NET CURRENT ASSETS (LIABILITIES) 35,152 185,626
TOTAL ASSETS LESS CURRENT LIABILITIES 493,207 583,392
Creditors: Amounts Falling Due After More Than One Year (464,220 ) (464,220 )
NET ASSETS 28,987 119,172
CAPITAL AND RESERVES
Called up share capital 6 208 208
Share premium account 1,942,527 1,233,535
Profit and Loss Account (1,913,748 ) (1,114,571 )
SHAREHOLDERS' FUNDS 28,987 119,172
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Mark Roger
Director
13 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ibisvision Limited is a private company, limited by shares, incorporated in Scotland, registered number SC463676 . The registered office is 60 St. Enoch Square, 5th Floor, Glasgow, G1 4AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Patents, Trademarks and Licences. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Research and Development
Expenditure on research and development is capitalised where appropriate. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% on straight line
Fixtures & Fittings 20% on straight line
Computer Equipment 33% on straight line
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 7)
8 7
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Page 4
4. Intangible Assets
Total
£
Cost
As at 1 December 2022 722,825
Additions 214,736
As at 30 November 2023 937,561
Amortisation
As at 1 December 2022 328,473
Provided during the period 158,238
As at 30 November 2023 486,711
Net Book Value
As at 30 November 2023 450,850
As at 1 December 2022 394,352
5. Tangible Assets
Total
£
Cost
As at 1 December 2022 14,459
Additions 6,061
As at 30 November 2023 20,520
Depreciation
As at 1 December 2022 11,045
Provided during the period 2,270
As at 30 November 2023 13,315
Net Book Value
As at 30 November 2023 7,205
As at 1 December 2022 3,414
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 208 208
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