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Registered number: 13980136
Multi Sensory Technology Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Valentis UK Ltd
ACCA
6-8 Great Eastern Street
London
EC2A 3NT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13980136
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 43,409 31,896
Tangible Assets 5 750 767
44,159 32,663
CURRENT ASSETS
Debtors 6 481 973
Cash at bank and in hand 6,888 3,874
7,369 4,847
Creditors: Amounts Falling Due Within One Year 7 (309 ) -
NET CURRENT ASSETS (LIABILITIES) 7,060 4,847
TOTAL ASSETS LESS CURRENT LIABILITIES 51,219 37,510
Creditors: Amounts Falling Due After More Than One Year 8 (59,436 ) (35,436 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,335 ) (3,335 )
NET LIABILITIES (11,552 ) (1,261 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 55,000 45,000
Profit and Loss Account (66,553 ) (46,262 )
SHAREHOLDERS' FUNDS (11,552) (1,261)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Fadel Takrouri
Director
12/12/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Multi Sensory Technology Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13980136 . The registered office is 6-8 Great Eastern Street, London, United Kingdom, EC2A 3NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Website/Web application development costs are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and any accumulated impairment losses. 
Amortisation will commence when the asset is in use and will be calculated on a straight-line basis over its estimated useful life of 10 years. 
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from 5 to 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property registration fees are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and any accumulated impairment losses. 
Amortisation will commence when the asset is in use and will be calculated on a straight-line basis over its estimated useful life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Reducing Balance - 20%
Computer Equipment Reducing Balance - 20%
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.6. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Website/App Development Costs Product Development Costs Intellectual Property Total
£ £ £ £
Cost
As at 1 April 2023 16,310 14,506 1,200 32,016
Additions - 15,810 540 16,350
As at 31 March 2024 16,310 30,316 1,740 48,366
Amortisation
As at 1 April 2023 - - 120 120
Provided during the period 1,631 3,032 174 4,837
As at 31 March 2024 1,631 3,032 294 4,957
Net Book Value
As at 31 March 2024 14,679 27,284 1,446 43,409
As at 1 April 2023 16,310 14,506 1,080 31,896
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 959 - 959
Additions - 170 170
As at 31 March 2024 959 170 1,129
Depreciation
As at 1 April 2023 192 - 192
Provided during the period 153 34 187
As at 31 March 2024 345 34 379
Net Book Value
As at 31 March 2024 614 136 750
As at 1 April 2023 767 - 767
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
VAT 481 973
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7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 309 -
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Directors loan account 59,436 35,436
9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1 1
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