REGISTERED NUMBER: 04304466 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

KNOWLEDGE ECONOMY DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I R Gomersall

W H Gomersall

T C Gomersall

SECRETARY:

W H Gomersall

REGISTERED OFFICE:

2 Herons Close

Cambridge

CB1 8NS

REGISTERED NUMBER:

04304466 (England and Wales)

ACCOUNTANTS:

S Burgess & Co Ltd

11 Slayleigh Avenue

Sheffield

South Yorkshire

S10 3RA

FIXED ASSETS

Tangible assets

4

5,046

2,526

CURRENT ASSETS

Stocks

4,281

4,281

Debtors

5

57,619

11,557

Cash at bank

163,432

145,830

225,332

161,668

CREDITORS

Amounts falling due within one year

6

44,464

22,446

NET CURRENT ASSETS

180,868

139,222

TOTAL ASSETS LESS CURRENT LIABILITIES

185,914

141,748

CREDITORS

Amounts falling due after more than one year

7

200,000

200,000

NET LIABILITIES

(14,086

)

(58,252

)

CAPITAL AND RESERVES

Called up share capital

316

296

Share premium

224,954

24,974

Retained earnings

(239,356

)

(83,522

)

SHAREHOLDERS' FUNDS

(14,086

)

(58,252

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2025 and were signed on its behalf by:

W H Gomersall - Director

1.	STATUTORY INFORMATION

Knowledge Economy Developments 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover comprises the invoiced value of development and consultancy work, within the field of medical ultrasound imaging, and also, project collaboration funding in furtherance of the company's objectives, all excluding value added tax. Turnover is recognised in accordance with the contract terms relating to each income source.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks, comprising components, are valued at purchase cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors due within one year

Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment

At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2024

8,517

2,822

7,214

18,553

Additions

-

5,270

541

5,811

At 31 January 2025

8,517

8,092

7,755

24,364

DEPRECIATION

At 1 February 2024

8,517

2,290

5,220

16,027

Charge for year

-

2,024

1,267

3,291

At 31 January 2025

8,517

4,314

6,487

19,318

NET BOOK VALUE

At 31 January 2025

-

3,778

1,268

5,046

At 31 January 2024

-

532

1,994

2,526

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

18,391

6,825

Corporation tax

35,288

3,253

VAT

3,940

1,479

57,619

11,557

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

25,580

1,864

Other creditors

33

6

Directors' current accounts

17,651

19,576

Accrued expenses

1,200

1,000

44,464

22,446

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Other loans

200,000

200,000