REGISTERED NUMBER: 02993638 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VISICAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bannister

Y Lawrence

A Lett

REGISTERED OFFICE:

115 Phillips Street

Aston

Birmingham

West Midlands

B6 4PT

REGISTERED NUMBER:

02993638 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible Assets

4

324,096

415,378

CURRENT ASSETS

Stocks

483,134

671,309

Debtors

5

2,937,428

2,723,765

Cash at bank and in hand

181,292

344,429

3,601,854

3,739,503

CREDITORS

Amounts falling due within one year

6

1,052,148

1,052,324

NET CURRENT ASSETS

2,549,706

2,687,179

TOTAL ASSETS LESS CURRENT LIABILITIES

2,873,802

3,102,557

CREDITORS

Amounts falling due after more than one year

7

(98,949

)

(182,278

)

PROVISIONS FOR LIABILITIES

(49,735

)

(66,244

)

NET ASSETS

2,725,118

2,854,035

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Retained earnings

2,525,118

2,654,035

SHAREHOLDERS' FUNDS

2,725,118

2,854,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:

Y Lawrence - Director

1.	STATUTORY INFORMATION

Visican Limited 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.

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.

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.

Long leasehold property

-

10 years on cost

Plant and machinery

-

6 years on cost

Fixtures and fittings

-

25% on cost

Website

-

25% on cost

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 banks and other third parties, and loans to related parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 42 ) .

4.	TANGIBLE ASSETS

Long

Fixtures

leasehold

Plant and

and

property

machinery

fittings

Website

Totals

£

£

£

£

£

Cost

At 1 January 2024

194,014

449,896

46,922

6,500

697,332

Additions

-

14,958

2,417

-

17,375

At 31 December 2024

194,014

464,854

49,339

6,500

714,707

Depreciation

At 1 January 2024

24,202

224,275

30,227

3,250

281,954

Charge for year

19,402

77,476

10,154

1,625

108,657

At 31 December 2024

43,604

301,751

40,381

4,875

390,611

Net book value

At 31 December 2024

150,410

163,103

8,958

1,625

324,096

At 31 December 2023

169,812

225,621

16,695

3,250

415,378

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

307,463

356,595

Amounts owed by group undertakings

2,521,067

2,270,238

Other debtors

108,898

96,932

2,937,428

2,723,765

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans

50,000

50,000

Hire purchase contracts (see note 8)

33,329

29,975

Trade creditors

812,613

720,897

Taxation and social security

101,827

223,748

Other creditors

54,379

27,704

1,052,148

1,052,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

20,833

70,833

Hire purchase contracts (see note 8)

78,116

111,445

98,949

182,278

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

33,329

29,975

Between one and five years

78,116

111,445

111,445

141,420

Non-cancellable

operating leases

2024

2023

£

£

Within one year

255,691

255,691

Between one and five years

255,691

255,691

In more than five years

1,059,179

1,314,871

1,570,561

1,826,253

9.	CONTINGENT LIABILITIES

The Company is party to a debenture providing security via a fixed and floating charge, for present and future obligations, in relation to a liability of its parent company, Visican Holdings Limited. The potential liability at the year end was £1,018,596 (2023: £1,275,958).

10.	CONTROLLING PARTY

In the opinion of the directors, Visican Holdings Limited is the company’s ultimate parent and controlling party by virtue of its 100% shareholding in Visican Group Limited at 31 December 2024.