Registered number
04821772
Sensam Limited
Unaudited Filleted Accounts
31 July 2024
Sensam Limited
Registered number: 04821772
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 24,589 33,228
Current assets
Cash at bank and in hand 15,107 24,585
Creditors: amounts falling due within one year 4 (78,206) (78,206)
Net current liabilities (63,099) (53,621)
Net liabilities (38,510) (20,393)
Capital and reserves
Called up share capital 2,480 2,480
Share premium 76,116 76,116
Profit and loss account (117,106) (98,989)
Shareholders' funds (38,510) (20,393)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Kvasnik
Director
Approved by the board on 18 September 2024
Sensam Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Purchased patents and intellectual property rights:
Cost
At 1 August 2023 89,321
Additions 326
At 31 July 2024 89,647
Amortisation
At 1 August 2023 56,093
Provided during the year 8,965
At 31 July 2024 65,058
Net book value
At 31 July 2024 24,589
At 31 July 2023 33,228
The directors regularly review the status of the company's patents and intellectual property rights, and capitalise related expenditure as long as the earning potential of those assets is sufficient to support this policy. Where the earning potential is not considered by the directors to be sufficient, the patent related costs are written off in the year of expenditure.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 597 597
Other creditors 77,609 77,609
78,206 78,206
5 Related party transactions
At 31 July 2024 the company owed £16,311 to one of its directors (2023: £16,311). No interest has been charged to the company in respect of these loans which are repayable on demand and classified in creditors due within one year.
6 Other information
Sensam Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11, Albion Park
Warrington Road
Glazebury
Warrington
WA3 5PG
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