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REGISTERED NUMBER: 13744204 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2024

for

VISUADO LTD

VISUADO LTD (REGISTERED NUMBER: 13744204)

Contents of the Financial Statements
for the year ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VISUADO LTD

Company Information
for the year ended 30 November 2024







Directors: L C Hellevik
L G Tronaas





Registered office: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





Registered number: 13744204 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

VISUADO LTD (REGISTERED NUMBER: 13744204)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 294 447

Current assets
Debtors 5 1,335 9,841
Cash at bank 78 1,981
1,413 11,822
Creditors
Amounts falling due within one year 6 355,353 405,323
Net current liabilities (353,940 ) (393,501 )
Total assets less current liabilities (353,646 ) (393,054 )

Capital and reserves
Called up share capital 7 1 1
Retained earnings (353,647 ) (393,055 )
Shareholders' funds (353,646 ) (393,054 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 24 March 2025 and were signed on its behalf by:





L C Hellevik - Director


VISUADO LTD (REGISTERED NUMBER: 13744204)

Notes to the Financial Statements
for the year ended 30 November 2024


1. Statutory information

VISUADO LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

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.
Computer equipment - Straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises of current 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 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.

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.

VISUADO LTD (REGISTERED NUMBER: 13744204)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


2. Accounting policies - continued

Going concern
The financial statements have been prepared on the going concern basis. The company incurred trading profits during the year and the directors believe the company has sufficient cash resources in order to meet its obligations, if and when, they fall due. In addition, the parent entity, Visuado AS, is committed to supporting the company in meeting its obligations, should it need to. It is for these reasons the directors are of the opinion that the financial statements should be prepared on the going concern basis.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 2 ) .

4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 December 2023
and 30 November 2024 460
Depreciation
At 1 December 2023 13
Charge for year 153
At 30 November 2024 166
Net book value
At 30 November 2024 294
At 30 November 2023 447

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,335 9,841

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 6,159
Amounts owed to group undertakings 355,353 388,675
Taxation and social security - 8,528
Other creditors - 1,961
355,353 405,323

Amounts owed to group undertakings are unsecured, non-interest bearing and repayable on demand.

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1p 1 1

8. Ultimate controlling party

The ultimate controlling party is Visuado AS.