2023-01-012023-12-312023-12-31false12614766HYPERVISION SURGICAL 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HYPERVISION SURGICAL LTD

Registered Number
12614766
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

HYPERVISION SURGICAL LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

DILLINGER, Daniel
EBNER, Michael, Dr
FROST, Martin John
OURSELIN, Sebastien Roger Gustave, Professor
HERAN PARTNERS BV

Registered Address

London Institute For Healthcare Engineering
100 Lambeth Palace Road
London
SE1 7AR

Registered Number

12614766 (England and Wales)
HYPERVISION SURGICAL LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets350,66722,233
Tangible assets451,12927,769
101,79650,002
Current assets
Debtors5243,95598,946
Cash at bank and on hand5,859,194104,712
6,103,149203,658
Creditors amounts falling due within one year6(69,933)(50,281)
Net current assets (liabilities)6,033,216153,377
Total assets less current liabilities6,135,012203,379
Net assets6,135,012203,379
Capital and reserves
Called up share capital4,4962,362
Share premium6,871,385373,532
Profit and loss account(740,869)(172,515)
Shareholders' funds6,135,012203,379
The financial statements were approved and authorised for issue by the Board of Directors on 30 August 2024, and are signed on its behalf by:
EBNER, Michael, Dr
Director
FROST, Martin John
Director

Registered Company No. 12614766
HYPERVISION SURGICAL LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue 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.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year86
3.Intangible assets

Total

£
Cost or valuation
At 01 January 2322,233
Additions28,434
At 31 December 2350,667
Net book value
At 31 December 2350,667
At 31 December 2222,233
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2341,671
Additions42,857
At 31 December 2384,528
Depreciation and impairment
At 01 January 2313,902
Charge for year19,497
At 31 December 2333,399
Net book value
At 31 December 2351,129
At 31 December 2227,769
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables72,62213,748
Other debtors161,85385,071
Prepayments and accrued income9,480127
Total243,95598,946
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables45,99214,769
Accrued liabilities and deferred income23,94135,512
Total69,93350,281