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COMPANY REGISTRATION NUMBER: 10112166
Lightsense IP Ltd
Filleted Unaudited Financial Statements
31 December 2023
Lightsense IP Ltd
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Lightsense IP Ltd
Officers and Professional Advisers
Director
Mr E Damelin
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Lightsense IP Ltd
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Lightsense IP Ltd
Year ended 31 December 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Lightsense IP Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
1
1
Current assets
Debtors
6
168,170
168,170
Creditors: amounts falling due within one year
7
794,448
769,180
---------
---------
Net current liabilities
626,278
601,010
---------
---------
Total assets less current liabilities
( 626,277)
( 601,009)
---------
---------
Net liabilities
( 626,277)
( 601,009)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 626,278)
( 601,010)
---------
---------
Shareholders funds
( 626,277)
( 601,009)
---------
---------
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 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr E Damelin
Director
Company registration number: 10112166
Lightsense IP Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In my opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which I believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular I believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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:
Fixtures, fittings and equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Tangible assets
Fixtures, fittings and equipment
£
Cost
At 1 January 2023 and 31 December 2023
845
----
Depreciation
At 1 January 2023 and 31 December 2023
845
----
Carrying amount
At 31 December 2023
----
At 31 December 2022
----
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
1
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
1
----
At 31 December 2022
1
----
The above investment represents a 100% holding in Femto Vision Limited.
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
168,170
168,170
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
794,448
769,080
Other creditors
100
---------
---------
794,448
769,180
---------
---------
The company has provided security over all of its property and undertakings by way of a fixed and floating charge in favour of Kreos Capital Vi (UK) Limited.