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REGISTERED NUMBER: SC328848 (Scotland)












Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31 January 2024

for

Allsee Technologies Limited

Allsee Technologies Limited (Registered number: SC328848)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Income Statement 7

Other Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 13


Allsee Technologies Limited

Company Information
for the Year Ended 31 January 2024







Director: Dr B Zhao





Registered office: Newmachar Business Centre Unit 5, Kingse
Aberdeen
Newmachar
AB21 0AZ





Registered number: SC328848 (Scotland)





Auditors: The GKP Partnership
Ground Floor
Chiswick Gate,
598 -608 Chiswick High Road
London
W4 5RT

Allsee Technologies Limited (Registered number: SC328848)

Strategic Report
for the Year Ended 31 January 2024

The director presents his strategic report for the year ended 31 January 2024.


Review of Business

Allsee Technologies Ltd. continues to thrive as a leading provider of cutting-edge visual display solutions. Our business is dedicated to the design, manufacturing, and distribution of innovative digital signage and visual display products. Our mission is to empower businesses and organizations with state-of-the-art display solutions that enhance communication, engagement, and overall operational efficiency.

Financial Performance:

In the fiscal year ending January 31, 2024, Allsee Technologies has demonstrated robust financial performance. Our turnover has reached £19,135,779 (2023:16,374,103), representing a significant growth trajectory. The gross profit of £9,869,044 (2023: £7,536,870 ) underscores our commitment to operational excellence. Key financial indicators, including retur on investment and liquidity measures, remain strong, showcasing our financial stability and prudent management.

Strategy and Objectives:

Our strategic focus remains cantered on innovation, customer satisfaction, and sustainable growth. We are committed to expanding our product offerings, exploring new markets, and fortifying our position as a market leader. Our objectives include continued investment in research and development, fostering strategic partnerships, and enhancing operational efficiency. We have made substantial progress in aligning our strategies with the dynamic market landscape.

Market Analysis:

Allsee Technologies operates in a dynamic market characterized by technological advancements and evolving customer preferences. Our market analysis reveals a growing demand for digital signage solutions across various industries. We continuously monitor market trends, assess competitive landscapes, and adapt our strategies to capitalize on emerging opportunities. Regulatory compliance and industry-specific factors are integral considerations in our decision-making processes.

Risk Management:

Proactive risk management is paramount to our sustained success. We recognize the importance of identifying and mitigating risks associated with market volatility, regulatory changes, and operational challenges. Our risk management framework is designed to ensure resilience in the face of uncertainties, fostering adaptability and strategic agility.

Environmental, Social, and Governance (ESG) Factors:

Allsee Technologies is committed to ESG principles. Our environmental initiatives include a transition to LED backlit products, reducing both power consumption and waste. Social responsibility is ingrained in our culture, with programs supporting employee welfare, diversity, and ethical business practices. Robust corporate governance practices ensure transparency, accountability, and ethical decision-making.

Stakeholder Engagement:

We prioritize stakeholder engagement as a cornerstone of our corporate strategy. Regular communication with shareholders, employees, customers, and suppliers fosters strong relationships. Our dedication to stakeholder satisfaction is evident in ongoing initiatives to address their needs, concerns, and expectations.


Allsee Technologies Limited (Registered number: SC328848)

Strategic Report
for the Year Ended 31 January 2024

Review of business
Future Outlook:

Looking ahead, Allsee Technologies is poised for continued success. We anticipate sustained growth through product innovation, market expansion, and strategic partnerships. Opportunities in emerging technologies and global markets will be explored. Our commitment to sustainability, social responsibility, and stakeholder satisfaction will remain unwavering, positioning Allsee Technologies as a resilient and forward-thinking industry leader.
As we move forward, we remain dedicated to upholding the highest standards of excellence, innovation, and corporate responsibility.

On behalf of the board:





Dr B Zhao - Director


28 October 2024

Allsee Technologies Limited (Registered number: SC328848)

Report of the Director
for the Year Ended 31 January 2024

The director presents his report with the financial statements of the company for the year ended 31 January 2024.

Principal activity
The principal activity of the company in the year under review was that of provider of visual display solutions.

Dividends
An interim dividend of 0.08 per share was paid on . The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2024 will be £ 100,000 .

Director
Dr B Zhao held office during the whole of the period from 1 February 2023 to the date of this report.

Statement of director's responsibilities
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors
The auditors, The GKP Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Dr B Zhao - Director


28 October 2024

Report of the Independent Auditors to the Members of
Allsee Technologies Limited

Opinion
We have audited the financial statements of Allsee Technologies Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Allsee Technologies Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities due to fraud are inherently more difficult to detect, therefore our procedures may be unable to detect all such irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




A K Sharma FCA (Senior Statutory Auditor)
for and on behalf of The GKP Partnership
Ground Floor
Chiswick Gate,
598 -608 Chiswick High Road
London
W4 5RT

28 October 2024

Allsee Technologies Limited (Registered number: SC328848)

Income Statement
for the Year Ended 31 January 2024

31.1.24 31.1.23
Notes £    £   

Turnover 19,135,779 16,374,103

Cost of sales (9,266,735 ) (8,837,233 )
Gross profit 9,869,044 7,536,870

Administrative expenses (3,458,389 ) (3,149,345 )
6,410,655 4,387,525

Other operating income (84,606 ) (59,269 )
Operating profit 4 6,326,049 4,328,256

Interest receivable and similar income 167,306 21,792
6,493,355 4,350,048
Gain/loss on revaluation of assets - (174,718 )
Profit before taxation 6,493,355 4,175,330

Tax on profit 5 (1,585,437 ) (746,383 )
Profit for the financial year 4,907,918 3,428,947

Allsee Technologies Limited (Registered number: SC328848)

Other Comprehensive Income
for the Year Ended 31 January 2024

31.1.24 31.1.23
Notes £    £   

Profit for the year 4,907,918 3,428,947


Other comprehensive income - -
Total comprehensive income for the
year

4,907,918

3,428,947

Allsee Technologies Limited (Registered number: SC328848)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £   
Fixed assets
Tangible assets 7 6,028,336 2,607,491

Current assets
Stocks 8 4,521,190 3,155,374
Debtors 9 3,221,511 2,658,452
Investments 10 3,215,637 2,566,209
Cash at bank 3,106,528 3,934,340
14,064,866 12,314,375
Creditors
Amounts falling due within one year 11 (2,715,280 ) (2,392,677 )
Net current assets 11,349,586 9,921,698
Total assets less current liabilities 17,377,922 12,529,189

Provisions for liabilities 12 (47,023 ) (6,208 )
Net assets 17,330,899 12,522,981

Capital and reserves
Called up share capital 13 1,200,000 1,200,000
Retained earnings 14 16,130,899 11,322,981
Shareholders' funds 17,330,899 12,522,981

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





Dr B Zhao - Director


Allsee Technologies Limited (Registered number: SC328848)

Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 1,200,000 7,994,034 9,194,034

Changes in equity
Dividends - (100,000 ) (100,000 )
Total comprehensive income - 3,428,947 3,428,947
Balance at 31 January 2023 1,200,000 11,322,981 12,522,981

Changes in equity
Dividends - (100,000 ) (100,000 )
Total comprehensive income - 4,907,918 4,907,918
Balance at 31 January 2024 1,200,000 16,130,899 17,330,899

Allsee Technologies Limited (Registered number: SC328848)

Statement of Cash Flows
for the Year Ended 31 January 2024

31.1.24 31.1.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,171,699 2,582,309
Tax paid (1,578,216 ) (746,383 )
Net cash from operating activities 2,593,483 1,835,926

Cash flows from investing activities
Purchase of tangible fixed assets (3,488,601 ) (85,191 )
Sale of tangible fixed assets - 5,364
Interest received 167,306 21,792
Net cash from investing activities (3,321,295 ) (58,035 )

Cash flows from financing activities
Equity dividends paid (100,000 ) (100,000 )
Net cash from financing activities (100,000 ) (100,000 )

(Decrease)/increase in cash and cash equivalents (827,812 ) 1,677,891
Cash and cash equivalents at
beginning of year

2

3,934,340

2,256,449

Cash and cash equivalents at end of
year

2

3,106,528

3,934,340

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Statement of Cash Flows
for the Year Ended 31 January 2024

1. Reconciliation of profit before taxation to cash generated from operations

31.1.24 31.1.23
£    £   
Profit before taxation 6,493,355 4,175,330
Depreciation charges 67,756 66,226
Loss on revaluation of fixed assets - 174,718
Current investments - (1,097,578 )
Finance income (167,306 ) (21,792 )
6,393,805 3,296,904
Increase in stocks (1,365,816 ) (261,448 )
Increase in trade and other debtors (459,052 ) (393,883 )
Decrease in trade and other creditors (397,238 ) (59,264 )
Cash generated from operations 4,171,699 2,582,309

2. Cash and cash equivalents

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 3,106,528 3,934,340
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 3,934,340 2,256,449


3. Analysis of changes in net funds

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank 3,934,340 (827,812 ) 3,106,528
3,934,340 (827,812 ) 3,106,528

Liquid resources
Current asset investments 2,566,209 649,428 3,215,637
2,566,209 649,428 3,215,637
Total 6,500,549 (178,384 ) 6,322,165

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Allsee Technologies Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors
31.1.24 31.1.23
£    £   
Wages and salaries 1,893,944 1,483,997

The average number of employees during the year was as follows:
31.1.24 31.1.23

46 46

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. Employees and directors - continued

31.1.24 31.1.23
£    £   
Director's remuneration 139,527 114,793

4. Operating profit

The operating profit is stated after charging:

31.1.24 31.1.23
£    £   
Depreciation - owned assets 67,756 66,226
Auditors' remuneration 15,600 15,600

5. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.24 31.1.23
£    £   
Current tax:
UK corporation tax 1,578,216 784,595

Deferred tax 7,221 (38,212 )
Tax on profit 1,585,437 746,383

6. Dividends
31.1.24 31.1.23
£    £   
Ordinary shares of 1 each
Interim 100,000 100,000

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1 February 2023 2,347,305 718,010 3,832
Additions 3,474,217 - -
At 31 January 2024 5,821,522 718,010 3,832
Depreciation
At 1 February 2023 - 552,753 3,320
Charge for year - 41,314 128
At 31 January 2024 - 594,067 3,448
Net book value
At 31 January 2024 5,821,522 123,943 384
At 31 January 2023 2,347,305 165,257 512

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 February 2023 145,878 26,037 3,241,062
Additions 6,850 7,534 3,488,601
At 31 January 2024 152,728 33,571 6,729,663
Depreciation
At 1 February 2023 57,430 20,068 633,571
Charge for year 22,938 3,376 67,756
At 31 January 2024 80,368 23,444 701,327
Net book value
At 31 January 2024 72,360 10,127 6,028,336
At 31 January 2023 88,448 5,969 2,607,491

8. Stocks
31.1.24 31.1.23
£    £   
Stocks 4,521,190 3,155,374

9. Debtors: amounts falling due within one year
31.1.24 31.1.23
£    £   
Trade debtors 2,685,415 2,640,948
VAT 498,004 -
Prepayments 38,092 17,504
3,221,511 2,658,452

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. Current asset investments
31.1.24 31.1.23
£    £   
Listed investments 1,295,617 1,196,189
Other 1,920,020 1,370,020
3,215,637 2,566,209
Market value of listed investments at 31 January 2024 - £ 1,295,617 (2023 - £ 1,196,189 ).

11. Creditors: amounts falling due within one year
31.1.24 31.1.23
£    £   
Trade creditors 354,870 347,381
Tax 1,578,216 784,595
Social security and other taxes 7,006 -
VAT - 70,413
Other creditors 771,631 1,171,396
Accrued expenses 3,557 18,892
2,715,280 2,392,677

12. Provisions for liabilities
31.1.24 31.1.23
£    £   
Deferred tax 13,429 6,208
Other provisions 33,594 -
47,023 6,208

Deferred
tax
£   
Balance at 1 February 2023 6,208
Provided during year 7,221
Balance at 31 January 2024 13,429

13. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1,200,000 Ordinary 1 1,200,000 1,200,000

Allsee Technologies Limited (Registered number: SC328848)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

14. Reserves
Retained
earnings
£   

At 1 February 2023 11,322,981
Profit for the year 4,907,918
Dividends (100,000 )
At 31 January 2024 16,130,899

15. Loan investment


The company has funded investment loans to Blackox Ventures Ltd, a separate incubator company whose shares are held by Dr Baoli Zhao, Director, as Trustee on behalf of Allsee Technologies, The loans are interest free and repayable on demand.