Company Registration No. 13824419 (England and Wales)
VERSORI LTD
Unaudited accounts
for the year ended 31 January 2025
VERSORI LTD
Unaudited accounts
Contents
VERSORI LTD
Statement of financial position
as at 31 January 2025
Tangible assets
54,940
48,467
Cash at bank and in hand
2,496,851
216,791
Creditors: amounts falling due within one year
(20,345)
(11,933)
Net current assets
2,901,589
781,148
Net assets
2,956,529
829,615
Called up share capital
100
100
Capital contribution reserve
7,359,546
2,768,578
Profit and loss account
(4,403,117)
(1,939,063)
Shareholders' funds
2,956,529
829,615
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by
S C Brown
Director
Company Registration No. 13824419
VERSORI LTD
Notes to the Accounts
for the year ended 31 January 2025
VERSORI LTD is a private company, limited by shares, registered in England and Wales, registration number 13824419. The registered office is ANCHORAGE ONE VERSORI, 3RD FLOOR, ANCHOR, ANCHORAGE QUAY, SALFORD QUAYS, M50 3YJ, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company develops and operates a cloud software platform that provides AI-powered system integrations and workflow automation for enterprise customers.
Turnover is recognised to the extent that it is probable that the economic benefit will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services ( license revenue )
Turnover from a contract to provide services is recognised over the life of the contract on a straight line basis from the contract start date, in the period in which the service is provided.
Where payments are received from customers in advance of the services being provided, these payments are accounted for as deferred income and included within creditors.
The directors have a reasonable expectation that the Company has adequate resources to meet future liabilities and continue in operational existence for twelve months from the date the financial statements are approved and therefore prepared the financial statements on a going concern basis.
This conclusion is based on the continued financial support from the immediate parent company, Versori Group Inc.
VERSORI LTD
Notes to the Accounts
for the year ended 31 January 2025
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land & buildings
Straight line over 5 years
Plant & machinery
25% reducing balance
Fixtures & fittings
25% straight line
Short-term employee benefits, including holiday pay, are recognised as expenses as services are rendered. Contributions to defined contribution pension schemes are charged to profit or loss when due.
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
VERSORI LTD
Notes to the Accounts
for the year ended 31 January 2025
The company operates a defined contribution plan for its employees. A defined contribution plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Research and development expenditure is written off as incurred.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Interest income is recognised in profit or loss using the effective interest method.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 February 2024
9,425
50,804
60,229
Additions
1,295
23,029
24,324
At 31 January 2025
10,720
73,833
84,553
At 1 February 2024
1,167
10,595
11,762
Charge for the year
2,119
15,732
17,851
At 31 January 2025
3,286
26,327
29,613
At 31 January 2025
7,434
47,506
54,940
At 31 January 2024
8,258
40,209
48,467
Amounts falling due within one year
Amounts due from group undertakings etc.
9,903
9,093
Accrued income and prepayments
11,633
-
Other debtors
380,802
553,647
VERSORI LTD
Notes to the Accounts
for the year ended 31 January 2025
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Creditors: amounts falling due within one year
2025
2024
Taxes and social security
-
4,067
Other creditors
8,619
7,866
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Transactions with related parties
The company has taken advantage of the exemption permitted under Section 33.1A from disclosing transactions with the parent and fellow subsidiary companies.
The ultimate parent company was Versori Group Inc, a company registered in the United States of America.
The ultimate controlling parties were Mr S Brown and Mr D Jones, by virtue of their ownership of Versori Group Inc.
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Average number of employees
During the year the average number of employees was 13 (2024: 13).