Registration number: 03959025

Stereopsis Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

Stereopsis Limited

(Registration number: 03959025)
Statement of Financial Position
31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,589,773	2,679,517
Investment property	5	3,705,605	3,705,605
Other financial assets	6	52,891	60,467
		6,348,269	6,445,589
Current assets
Stocks	7	40,314	6,812
Debtors	8	28,296	25,097
Cash at bank and in hand		4,571,475	4,437,558
		4,640,085	4,469,467
Creditors: Amounts falling due within one year	9	(306,997)	(300,802)
Net current assets		4,333,088	4,168,665
Total assets less current liabilities		10,681,357	10,614,254
Provisions for liabilities		(52,601)	(59,607)
Net assets		10,628,756	10,554,647
Capital and reserves
Called up share capital	10	100	100
Retained earnings		10,628,656	10,554,547
Shareholders' funds		10,628,756	10,554,647

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Stereopsis Limited

(Registration number: 03959025)
Statement of Financial Position
31 March 2025

Approved and authorised by the Board on 12 December 2025 and signed on its behalf by:
 

......................................... Dr S Rassam Director

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Engalnd & Wales.

The address of its registered office is:
32 West Parade
Worthing
West Sussex
BN11 5EF

These financial statements were authorised for issue by the Board on 12 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	Over 50 years
Plant & Machinery	Over 4 years
Fixtures & Fittings	15% Reducing Balance
Motor Vehicles	Over 4 years
Office Equipment	Between 2 and 5 years

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

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.

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 7).

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

5	Investment properties

	2025 £
At 1 April	3,705,605
At 31 March	3,705,605

The 2025 valuations were made by the directors, on an open market value for existing use basis.
If the Investment properties had been accounted for under the historical cost accounting rules, the properties would have been measured at £3,705,605 (2024: £3,705,605).

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	60,467	60,467
Fair value adjustments	3,705	3,705
Additions	16,268	16,268
Disposals	(27,549)	(27,549)
At 31 March 2025	52,891	52,891
Impairment
Carrying amount
At 31 March 2025	52,891	52,891

7

Stocks

	2025 £	2024 £
Other inventories	40,314	6,812

8

Debtors

Current	2025 £	2024 £
Trade debtors	10,068	6,654
Prepayments	13,987	13,944
Other debtors	4,241	4,499
	28,296	25,097

Stereopsis Limited

Notes to the Unaudited Financial Statements
for the year ended 31 March 2025

9

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	114,924	108,100
Accruals and deferred income	13,230	16,176
Other creditors	178,843	176,526
	306,997	300,802

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary "A" shares of £1 each	40	40	40	40
Ordinary "B" shares of £1 each	40	40	40	40
Ordinary "C" shares of £1 each	10	10	10	10
Ordinary "D" shares of £1 each	10	10	10	10
	100	100	100	100