REGISTERED NUMBER: |
Strategic Report, Report of the Director and |
Financial Statements |
for the Year Ended 31 January 2024 |
for |
Allsee Technologies Limited |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Auditors: |
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: |
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 |
The total distribution of dividends for the year ended 31 January 2024 will be £ |
Director |
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: |
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. |
for and on behalf of |
Ground Floor |
Chiswick Gate, |
598 -608 Chiswick High Road |
London |
W4 5RT |
Allsee Technologies Limited (Registered number: SC328848) |
Income Statement |
for the Year Ended 31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ |
Turnover |
Cost of sales | ( |
) | ( |
) |
Gross profit |
Administrative expenses | ( |
) | ( |
) |
6,410,655 | 4,387,525 |
Other operating income | ( |
) | ( |
) |
Operating profit | 4 |
Interest receivable and similar income |
6,493,355 | 4,350,048 |
Gain/loss on revaluation of assets | - | (174,718 | ) |
Profit before taxation |
Tax on profit | 5 | ( |
) | ( |
) |
Profit for the financial year |
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 |
Other comprehensive income | - | - |
Total comprehensive income for the year |
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 |
Current assets |
Stocks | 8 |
Debtors | 9 |
Investments | 10 |
Cash at bank |
Creditors |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 12 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 13 |
Retained earnings | 14 |
Shareholders' funds |
The financial statements were approved by the director and authorised for issue on |
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 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 January 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 January 2024 |
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 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
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 |
Depreciation charges |
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 | ( |
) | ( |
) |
Increase in trade and other debtors | ( |
) | ( |
) |
Decrease in trade and other creditors | ( |
) | ( |
) |
Cash generated from operations |
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 | ( |
) | 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 |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
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 |
The average number of employees during the year was as follows: |
31.1.24 | 31.1.23 |
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 |
4. | Operating profit |
The operating profit is stated after charging: |
31.1.24 | 31.1.23 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
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 |
Deferred tax | ( |
) |
Tax on profit |
6. | Dividends |
31.1.24 | 31.1.23 |
£ | £ |
Ordinary shares of 1 each |
Interim |
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 |
Additions |
At 31 January 2024 |
Depreciation |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
At 31 January 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 February 2023 |
Additions |
At 31 January 2024 |
Depreciation |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
At 31 January 2023 |
8. | Stocks |
31.1.24 | 31.1.23 |
£ | £ |
Stocks |
9. | Debtors: amounts falling due within one year |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
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 |
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 |
Tax |
Social security and other taxes |
VAT | - | 70,413 |
Other creditors |
Accrued expenses |
12. | Provisions for liabilities |
31.1.24 | 31.1.23 |
£ | £ |
Deferred tax | 13,429 | 6,208 |
Other provisions | 33,594 | - |
Deferred |
tax |
£ |
Balance at 1 February 2023 |
Provided during year |
Balance at 31 January 2024 |
13. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
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 |
Profit for the year |
Dividends | ( |
) |
At 31 January 2024 |
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. |