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Registration number: 09845645

Visiba UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Visiba UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Visiba UK Limited

Company Information

Director

J Gustafsson

Company secretary

Goodwille Limited

Registered office

The Metro Building
1 Butterwick
Hammersmith
London
W6 8DL

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Visiba UK Limited

(Registration number: 09845645)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

257,015

274,179

Cash at bank and in hand

 

50,327

162,933

 

307,342

437,112

Creditors: Amounts falling due within one year

6

(90,312)

(164,497)

Total assets less current liabilities

 

217,030

272,615

Creditors: Amounts falling due after more than one year

6

-

(68,897)

Net assets

 

217,030

203,718

Capital and reserves

 

Called up share capital

7

100

100

Other reserves

1,417,726

1,417,726

Retained earnings

(1,200,796)

(1,214,108)

Shareholders' funds

 

217,030

203,718

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 February 2025
 

.........................................
J Gustafsson
Director

 

Visiba UK Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Metro Building
1 Butterwick
Hammersmith
London
W6 8DL
United Kingdom

Principal activity

The principal activity of the Company is that of providing a digital healthcare platform.

These financial statements were authorised for issue by the director on 4 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependent on the support from the group to continue as a going concern. Confirmation of this support has been provided and therefore the the financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Visiba UK Limited

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

Government grants

Government grants are recognised when there is reasonable assurance that the entity will comply with the conditions of the grant and the grant will be received. Grants related to income are recognised in profit or loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants related to assets are recognised as deferred income and systematically released to profit or loss over the useful life of the asset. The entity discloses the nature and amounts of government grants recognised and the accounting policies adopted for their recognition and measurement.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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.

 

Visiba UK Limited

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

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

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 the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.


Other reserves
Other reserves represent capital contributions from the parent company.

 

Visiba UK Limited

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

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 4 (2023 - 4).

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

30,654

51,461

Amounts owed by related parties

7,223

-

Prepayments

 

12,936

11,863

Other debtors

 

206,202

210,855

   

257,015

274,179

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,052

8,927

Taxation and social security

16,389

12,393

Accruals and deferred income

60,353

139,278

Other creditors

2,518

3,899

90,312

164,497

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amounts owed to related parties

-

68,897

 

Visiba UK Limited

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £Nil per each Ordinary shares

-

-

 

 

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,300

12,750

10

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Visiba Group AB, incorporated in Sweden.

The address of Visiba Group AB is:
Krokslätts fabriker 61, 431 37 Mölndal, Sweden

11

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 4 February 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.