REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
VOICESCAPE LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
VOICESCAPE LIMITED |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
VOICESCAPE LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
(Unaudited) |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
Tangible assets | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | Statutory information |
Voicescape Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cashflows in making their assessment. Based on these assessments and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
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 rendering of services and from software fees. Turnover is reduced for estimated discounts, rebates and other similar allowances. |
Software platform fees |
Fees for the use of Voicescape software are recognised over the period of the software access licence. |
Rendering of services |
Turnover from the rendering of services is recognised by reference to the services provided in the period being reported on, recognised in line with the terms of the underlying contracts. |
Goodwill |
Goodwill is stated at cost (or deemed cost) or valuation less accumulated amortisation and any accumulated impairment losses. Goodwill is amortised over a period of ten years. |
Development costs |
Development costs relate to the development of innovative software products. These products complement the company's existing products and are hence considered by management to be highly likely to lead to future economic benefit. Development costs are stated at cost less accumulated amortisation. They are amortised evenly over their estimated useful life of five years. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | Accounting policies - continued |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other debtors that are classified as debt and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
There are no assets which are initially measured at fair value. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 |
Research expenditure is written off to the profit or loss in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. |
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. |
4. | Employees and directors |
The average number of employees during the year was |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | Intangible fixed assets |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
Cost |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Amortisation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
6. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 April 2023 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
Included in fixed assets are assets held under hire purchase or lease purchase agreements with a net book value of £8,032 (2023 - £14,916) and depreciation to date of £12,621 (2023 - £5,737). |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
(Unaudited) |
£ | £ |
Trade debtors |
Other debtors |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
(Unaudited) |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
(Unaudited) |
£ | £ |
Hire purchase contracts |
Other creditors |
10. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
(Unaudited) |
£ | £ |
Hire purchase contracts | 13,081 | 17,211 |
Assets held under hire purchase or lease purchase agreements are secured on the assets concerned. |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
Value: | £ | £ |
5155 | Ordinary | £1 | 5,155 | - |
3,834 | A ordinary | £1 | 3,384 | 3,249 |
213 | B ordinary | £1 | 213 | 3,248 |
- | C ordinary | £1 | - | 1,111 |
- | D ordinary | £1 | - | 1,111 |
- | E ordinary | £1 | - | 90 |
- | F ordinary | £1 | - | 90 |
- | G ordinary | £1 | - | 90 |
9,202 | 8,989 |
During the year the company issued 213 B ordinary shares of £1 for cash at par. |
12. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
VOICESCAPE LIMITED (REGISTERED NUMBER: 10440336) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
13. | Other financial commitments |
At the year-end the company had financial commitments of £37,338 (2023 - £37,338) under non-cancellable operating leases. |
14. | Directors' advances, credits and guarantees |
The directors' owed an amount of £nil (2023 - £100,000) to the company at the year end. Interest is paid on the loan at 2.5% pa and the loan is repayable on demand. The loan was repaid in full in April 2023. |