16 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 111 1 112 112 111 xbrli:pure xbrli:shares iso4217:GBP 10112060 2024-01-01 2024-12-31 10112060 2024-12-31 10112060 2023-12-31 10112060 2023-01-01 2023-12-31 10112060 2023-12-31 10112060 2022-12-31 10112060 core:PlantMachinery 2024-01-01 2024-12-31 10112060 core:FurnitureFittings 2024-01-01 2024-12-31 10112060 bus:RegisteredOffice 2024-01-01 2024-12-31 10112060 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 10112060 bus:Director1 2024-01-01 2024-12-31 10112060 core:PlantMachinery 2023-12-31 10112060 core:FurnitureFittings 2023-12-31 10112060 core:PlantMachinery 2024-12-31 10112060 core:FurnitureFittings 2024-12-31 10112060 core:WithinOneYear 2024-12-31 10112060 core:WithinOneYear 2023-12-31 10112060 core:AfterOneYear 2023-12-31 10112060 core:ShareCapital 2024-12-31 10112060 core:ShareCapital 2023-12-31 10112060 core:SharePremium 2024-12-31 10112060 core:SharePremium 2023-12-31 10112060 core:CapitalRedemptionReserve 2024-12-31 10112060 core:CapitalRedemptionReserve 2023-12-31 10112060 core:RetainedEarningsAccumulatedLosses 2024-12-31 10112060 core:RetainedEarningsAccumulatedLosses 2023-12-31 10112060 core:BetweenOneFiveYears 2023-12-31 10112060 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 10112060 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-12-31 10112060 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 10112060 core:Non-currentFinancialInstruments 2024-12-31 10112060 core:Non-currentFinancialInstruments 2023-12-31 10112060 core:PlantMachinery 2023-12-31 10112060 core:FurnitureFittings 2023-12-31 10112060 bus:SmallEntities 2024-01-01 2024-12-31 10112060 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10112060 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10112060 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10112060 bus:FullAccounts 2024-01-01 2024-12-31 10112060 core:OfficeEquipment 2024-01-01 2024-12-31 10112060 core:OfficeEquipment 2023-12-31 10112060 core:OfficeEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 10112060
Lightsense Technologies Limited
Filleted Unaudited Financial Statements
31 December 2024
Lightsense Technologies Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Lightsense Technologies Limited
Officers and Professional Advisers
Director
E Damelin
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Lightsense Technologies Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Lightsense Technologies Limited
Year ended 31 December 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
29 May 2025
Lightsense Technologies Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
31,392
50,562
Investments
6
112
111
--------
--------
31,504
50,673
Current assets
Debtors
7
8,412,499
7,512,632
Cash at bank and in hand
398,433
3,742,862
------------
-------------
8,810,932
11,255,494
Creditors: amounts falling due within one year
8
876,725
772,217
------------
-------------
Net current assets
7,934,207
10,483,277
------------
-------------
Total assets less current liabilities
7,965,711
10,533,950
Creditors: amounts falling due after more than one year
9
26,012
------------
-------------
Net assets
7,965,711
10,507,938
------------
-------------
Capital and reserves
Called up share capital
160
160
Share premium account
24,315,693
24,315,693
Capital redemption reserve
19
19
Profit and loss account
( 16,350,161)
( 13,807,934)
-------------
-------------
Shareholders funds
7,965,711
10,507,938
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lightsense Technologies Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
E Damelin
Director
Company registration number: 10112060
Lightsense Technologies Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Hardware Device
-
20% straight line
Office Equipment
-
25% straight line
Computer Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 15 ).
5. Tangible assets
Hardware
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
87,589
10,606
89,508
187,703
Additions
2,329
1,417
1,519
5,265
--------
--------
--------
---------
At 31 December 2024
89,918
12,023
91,027
192,968
--------
--------
--------
---------
Depreciation
At 1 January 2024
61,437
8,170
67,534
137,141
Charge for the year
13,342
516
10,577
24,435
--------
--------
--------
---------
At 31 December 2024
74,779
8,686
78,111
161,576
--------
--------
--------
---------
Carrying amount
At 31 December 2024
15,139
3,337
12,916
31,392
--------
--------
--------
---------
At 31 December 2023
26,152
2,436
21,974
50,562
--------
--------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
111
Additions
1
----
At 31 December 2024
112
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
112
----
At 31 December 2023
111
----
The above investments represent a 100% shareholding in Lightsense IP Limited, Lightsense Israel (incorporated in Israel), Lightsense Technologies Inc. (incorporated in the USA), Lightsense Medical Limited and Naama Studios Limited.
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
8,341,711
7,317,030
Other debtors
70,788
195,602
------------
------------
8,412,499
7,512,632
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
58,757
27,133
Social security and other taxes
34,989
75,688
Other creditors
782,979
669,396
---------
---------
876,725
772,217
---------
---------
The company has provided security over all of its property and undertakings by way of a fixed and floating charge in favour of Kreos Capital Vi (UK) Limited. Included within other creditors is £750,000 of convertible debt.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
26,012
----
--------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2024
2023
£
£
Not later than 1 year
17,865
49,142
Later than 1 year and not later than 5 years
40,366
--------
--------
17,865
89,508
--------
--------