2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 92,562 92,562 92,562 2,481 1,397 396 1,793 688 1,084 xbrli:pure xbrli:shares iso4217:GBP 10116150 2023-05-01 2024-04-30 10116150 2024-04-30 10116150 2023-04-30 10116150 2022-05-01 2023-04-30 10116150 2023-04-30 10116150 2022-04-30 10116150 bus:Director6 2023-05-01 2024-04-30 10116150 core:WithinOneYear 2024-04-30 10116150 core:WithinOneYear 2023-04-30 10116150 core:AfterOneYear 2024-04-30 10116150 core:AfterOneYear 2023-04-30 10116150 core:ShareCapital 2024-04-30 10116150 core:ShareCapital 2023-04-30 10116150 core:SharePremium 2024-04-30 10116150 core:SharePremium 2023-04-30 10116150 core:RetainedEarningsAccumulatedLosses 2024-04-30 10116150 core:RetainedEarningsAccumulatedLosses 2023-04-30 10116150 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 10116150 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 10116150 bus:SmallEntities 2023-05-01 2024-04-30 10116150 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10116150 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10116150 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10116150 bus:FullAccounts 2023-05-01 2024-04-30 10116150 core:OfficeEquipment 2023-05-01 2024-04-30 10116150 core:OfficeEquipment 2024-04-30 10116150 core:OfficeEquipment 2023-04-30
COMPANY REGISTRATION NUMBER: 10116150
Visusnano Limited
Filleted Unaudited Financial Statements
30 April 2024
Visusnano Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Visusnano Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
6
92,562
92,562
Tangible assets
7
688
1,084
--------
--------
93,250
93,646
Current assets
Debtors
8
76,367
56,039
Cash at bank and in hand
5,002
98,781
--------
---------
81,369
154,820
Creditors: amounts falling due within one year
9
261,245
69,390
---------
---------
Net current (liabilities)/assets
( 179,876)
85,430
---------
---------
Total assets less current liabilities
( 86,626)
179,076
Creditors: amounts falling due after more than one year
10
19,913
29,578
---------
---------
Net (liabilities)/assets
( 106,539)
149,498
---------
---------
Capital and reserves
Called up share capital
170
170
Share premium account
1,123,261
1,123,261
Profit and loss account
( 1,229,970)
( 973,933)
------------
------------
Shareholders (deficit)/funds
( 106,539)
149,498
------------
------------
These 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Visusnano Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Dr J M Gould
Director
Company registration number: 10116150
Visusnano Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have considered the basis of the preparation of the accounts and are satisfied that the accounts should be prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Share capital
At the year end the company had issued 1,708,657 (2023: 1,708,657) ordinary shares at par giving a share capital total of £170.866 (2023: £170.866). Due to the rounding factor the accounts have been prepared with, the balance sheet shows share capital of £170 (2023: £170).
6. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 May 2023 and 30 April 2024
92,562
--------
Amortisation
At 1 May 2023 and 30 April 2024
--------
Carrying amount
At 30 April 2024
92,562
--------
At 30 April 2023
92,562
--------
7. Tangible assets
Equipment
Total
£
£
Cost
At 1 May 2023 and 30 April 2024
2,481
2,481
-------
-------
Depreciation
At 1 May 2023
1,397
1,397
Charge for the year
396
396
-------
-------
At 30 April 2024
1,793
1,793
-------
-------
Carrying amount
At 30 April 2024
688
688
-------
-------
At 30 April 2023
1,084
1,084
-------
-------
8. Debtors
2024
2023
£
£
Other debtors
76,367
56,039
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,014
10,000
Trade creditors
127,809
35,340
Social security and other taxes
49,981
16,767
Other creditors
73,441
7,283
---------
--------
261,245
69,390
---------
--------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
19,913
29,578
--------
--------
11. Directors' advances, credits and guarantees
As at the year end £740 (2023: £1,756) was owed to the company by a director. This was repaid after the year end.