Registration number: 11717444

Vissy Ltd

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Vissy Ltd

Company Information

Director

M Allen

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Vissy Ltd

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	48,000	60,000
Tangible assets	5	16,966	10,898
		64,966	70,898
Current assets
Debtors	6	624,357	502,473
Cash at bank and in hand		145,370	69,902
		769,727	572,375
Creditors: Amounts falling due within one year	7	(231,082)	(147,440)
Net current assets		538,645	424,935
Total assets less current liabilities		603,611	495,833
Creditors: Amounts falling due after more than one year	7	(5,286)	(15,661)
Net assets		598,325	480,172
Capital and reserves
Called up share capital		14	14
Share premium reserve		1,872,500	1,872,500
Retained earnings		(1,274,189)	(1,392,342)
Shareholders' funds		598,325	480,172

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Vissy Ltd

Statement of Financial Position as at 31 December 2024

Approved and authorised by the director on 30 September 2025
 

.........................................

M Allen

Director

Company registration number: 11717444

Vissy Ltd

Notes to the Unaudited 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of digital visualisation and associated services.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 December 2024 and had net assets at that date of £598,325, including cash at bank of £145,370.

The director is optimistic that the technological services provided by the company have even greater potential and relevance in the current climate as all leading retail brands are focused on their Digital Transformation Strategies and continue to require tools to support remote sell-in and collaboration. The business has entered into a significant contract with a new customer which the director believes will bring further profit in the forthcoming year.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue 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 value added tax.

The company recognises revenue over the period in which the services are provided.

Research and development costs

Research and development expenditure is written off in the period in which it is incurred.

Vissy Ltd

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

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 current tax. Tax is recognised in profit or loss, except that a charge 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.

Intangible assets

Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks and domain names	10% straight line

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Vissy Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class	Depreciation method and rate
Computer equipment	25% straight line
Office equipment	25% straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Compound financial instruments

The company has chosen to adopt FRS 102 sections 11 and 12 in respect of financial instruments.

Compound financial instruments issued by the company comprise convertible loan notes that can be converted into share capital in the company upon certain future conditions being met.

The liability component of compound financial instruments is initially recognised at the fair value of a similar liability that does not have an equity conversion option. The equity component is initially recognised at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component.

Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortised cost using the effective interest method. The equity component of a compound financial instrument is not re-measured subsequent to initial recognition except on conversion or expiry.

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.

Vissy Ltd

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

3	Staff numbers

The average number of persons employed by the company during the year, was 8 (2023 - 7).

4	Intangible assets

	Trademarks and domain names £	Total £
Cost or valuation
At 1 January 2024	120,000	120,000
At 31 December 2024	120,000	120,000
Amortisation
At 1 January 2024	60,000	60,000
Amortisation charge	12,000	12,000
At 31 December 2024	72,000	72,000
Carrying amount
At 31 December 2024	48,000	48,000
At 31 December 2023	60,000	60,000

Vissy Ltd

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

5	Tangible assets

	Computer equipment £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	85,114	8,605	93,719
Additions	12,168	-	12,168
At 31 December 2024	97,282	8,605	105,887
Depreciation
At 1 January 2024	74,787	8,034	82,821
Charge for the year	5,529	571	6,100
At 31 December 2024	80,316	8,605	88,921
Carrying amount
At 31 December 2024	16,966	-	16,966
At 31 December 2023	10,327	571	10,898

6

Debtors

	2024 £	2023 £
Trade debtors	439,900	428,000
Other debtors	184,457	74,473
	624,357	502,473

Vissy Ltd

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Loans and borrowings	8	10,375	11,007
Trade creditors		68,715	37,295
Taxation and social security		41,447	58,917
Other creditors		110,545	40,221
		231,082	147,440

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Loans and borrowings	8	5,286	15,661

8	Loans and borrowings

	2024 £	2023 £
Current loans and borrowings
Bank loan	10,375	11,007