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REGISTERED NUMBER: 03785121 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

RSscan Lab. Ltd

RSscan Lab. Ltd (Registered number: 03785121)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RSscan Lab. Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs B E Smith-Rewse
Mrs J K De La Poer Beresford
N J De La Poer Beresford
S Henderson





REGISTERED OFFICE: 46 Boss Hall Road
Boss Hall Business Park
Ipswich
Suffolk
IP1 5BN





REGISTERED NUMBER: 03785121 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

RSscan Lab. Ltd (Registered number: 03785121)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,166 -
Tangible assets 5 32,559 39,956
44,725 39,956

CURRENT ASSETS
Stocks 420,545 365,338
Debtors 6 485,883 728,088
Cash at bank 111,912 61,975
1,018,340 1,155,401
CREDITORS
Amounts falling due within one year 7 245,472 340,999
NET CURRENT ASSETS 772,868 814,402
TOTAL ASSETS LESS CURRENT LIABILITIES 817,593 854,358

CREDITORS
Amounts falling due after more than one
year

8

36,359

40,867
NET ASSETS 781,234 813,491

CAPITAL AND RESERVES
Called up share capital 11 162 155
Share premium 12 5,859,395 5,660,386
Capital redemption reserve 12 10 10
Retained earnings 12 (5,078,333 ) (4,847,060 )
SHAREHOLDERS' FUNDS 781,234 813,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RSscan Lab. Ltd (Registered number: 03785121)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2024 and were signed on its behalf by:





N J De La Poer Beresford - Director


RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RSscan Lab. Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
Having reviewed the projected results and cash flow forecasts of the company the directors are confident that the company will be able to meet its cash obligations in the foreseeable future. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

Significant judgements and estimates
In the application of the Company's accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised if revision affects only that and future periods.

Critical Judgements in applying the company's accounting policies
The following are the critical judgements, including those involving estimations, that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Depreciation of tangible fixed assets
Tangible fixed assets are recognised at cost and depreciated over the basis appropriate to charge to the profit and loss account the economic consumption of those assets during the accounting period. The charge is calculated as described below and is based on the director's knowledge of the reduction in the residual value of trading assets on average over the investment cycle of each class of asset. The rates of depreciation are kept under review such that assets are written down to residual value at the end of their economic lives.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill of £25,000, being the amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of five years.

Goodwill of £24,000, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly over its estimated useful life of five years.

RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5 years straight line and in accordance with the property lease
Plant and equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 4 years straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 14 ) .

RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 49,000 - 49,000
Additions - 12,999 12,999
At 31 December 2023 49,000 12,999 61,999
AMORTISATION
At 1 January 2023 49,000 - 49,000
Charge for year - 833 833
At 31 December 2023 49,000 833 49,833
NET BOOK VALUE
At 31 December 2023 - 12,166 12,166
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 261,465
Additions 4,700
Disposals (31,391 )
At 31 December 2023 234,774
DEPRECIATION
At 1 January 2023 221,509
Charge for year 10,751
Eliminated on disposal (30,045 )
At 31 December 2023 202,215
NET BOOK VALUE
At 31 December 2023 32,559
At 31 December 2022 39,956

RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,007 89,563
Other debtors 835 5,425
Prepayments and accrued income 425,041 633,100
485,883 728,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,621 6,618
Trade creditors 103,278 162,336
Taxation and social security 42,151 72,879
Other creditors 94,422 99,166
245,472 340,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 36,359 40,867

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5+ years 12,370 14,395

Included in bank loans is a £41,980 Coronavirus Bounce Back Loan backed by the UK government.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 2,336 2,336
Between one and five years - 2,336
2,336 4,672

10. SECURED DEBTS

The company's banking and invoice financing facilities are secured by a fixed and floating charge over the company's assets.

As at 31 December 2023 and 2022 there was no outstanding liability in respect of the facility.

RSscan Lab. Ltd (Registered number: 03785121)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
13,975,327 A Ordinary £0.00001 140 134
2,198,926 Investment B £0.00001 22 21
162 155

The following shares were allotted during the year at a premium as shown below:

587,106 Ordinary A shares of £0.00001 were issued at a total premium of £181,994
54,890 Investment B shares of £0.00001 were issued at a total premium of £17,015

Ordinary A shares and Investment B shares rank pari passu in all respects except that B Investment shares have no voting rights attached to them.

12. RESERVES

The share premium account and capital redemption reserve are non distributable reserves.