REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
BLUE VISBY SERVICES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
BLUE VISBY SERVICES LIMITED |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Contents of the Financial Statements |
for the year ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BLUE VISBY SERVICES LIMITED |
Company Information |
for the year ended 31 December 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
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. |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Notes to the Financial Statements |
for the year ended 31 December 2024 |
1. | Statutory information |
Blue Visby Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
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. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Going concern |
The financial statements have been prepared on the going concern basis. The directors are aware that the company suffered losses during the year. However, the company has been successful in raising investment funds during the period and the directors believe the company has sufficient resources to meet its obligations, if and when, they fall due. The directors are therefore of the opinion that financial statements should be prepared on the going concern basis. |
3. | Employees and directors |
The average number of employees during the year was |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
4. | Intangible fixed assets |
Patents and | Development |
licences | costs | Totals |
£ | £ | £ |
Cost |
At 1 January 2024 |
Additions |
At 31 December 2024 |
Amortisation |
At 1 January 2024 |
Amortisation for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
Additions |
At 31 December 2024 |
Depreciation |
Charge for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2024 |
and 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
BLUE VISBY SERVICES LIMITED (REGISTERED NUMBER: 13499613) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
6. | Fixed asset investments - continued |
Investments in group undertakings and participating interests. |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors are convertible loans of £1,581,800 mature on the first anniversary of each agreement (or such later date as the Lender may determine). The convertible loans are interest free. |
Included within other creditors is an amount owed to BV Alpha Systems Limited of £49,999 (2023: £55,000). The loans are interest free and repayable on demand. |
9. | Related party disclosures |
In the year a director was paid £164,330 (2023: £19,019) for consultancy services. |
10. | Post balance sheet events |
On 21 January 2025 a Finnish subsidiary was set up with a registered office address of Napa Ltd, P.O. Box 470, 00181 Helsinki. |
11. | Controlling party |
In the opinion of the directors, the company does not have an ultimate controlling party, as no individual shareholder or group of shareholders exercises control over the company. |