COMPANY REGISTRATION NUMBER:
SC823267
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Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
31 December 2025
Fixed assets
Current assets
|
Debtors |
295,225 |
|
Cash at bank and in hand |
24,431 |
|
--------- |
|
319,656 |
|
|
|
Creditors: amounts falling due within one year |
897,798 |
|
--------- |
|
Net current liabilities |
578,142 |
|
--------- |
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Total assets less current liabilities |
(
564,120) |
|
--------- |
|
|
Capital and reserves
|
Called up share capital |
3,000 |
|
Other reserves |
497,000 |
|
Profit and loss account |
(
1,064,120) |
|
------------ |
|
Shareholders deficit |
(
564,120) |
|
------------ |
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 December 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 abridged financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.
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Abridged Statement of Financial Position (continued) |
|
31 December 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
18 June 2026
, and are signed on behalf of the board by:
Company registration number:
SC823267
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Notes to the Abridged Financial Statements |
|
Period from 19 September 2024 to 31 December 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 5 Gateway Court, Eastworks, Glasgow, G40 4DS, Scotland.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have prepared the accounts on a going concern basis as they have concluded that this is an appropriate basis given the financial position of the company, the risks and uncertainties being faced and the fact that confirmation has been received from the shareholders that they will provide financial support, if required, to enable the company to continue trading for a period of at least 12 months from the date of approval of these financial statements.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
- |
25% straight line |
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Computer Equipment |
- |
33% straight line |
|
|
|
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
4
.
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 19 September 2024 |
– |
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Additions |
15,649 |
|
-------- |
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At 31 December 2025 |
15,649 |
|
-------- |
|
Depreciation |
|
|
At 19 September 2024 |
– |
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Charge for the period |
1,627 |
|
-------- |
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At 31 December 2025 |
1,627 |
|
-------- |
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Carrying amount |
|
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At 31 December 2025 |
14,022 |
|
-------- |
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6.
Related party transactions
The company has taken advantage of the exemption available under FRS102 paragraph 33.1a whereby it has not disclosed transactions with the ultimate parent company. The company is controlled by Simera Sense Holdings NV who owns 100% of the issued share capital. Simera Sense Holdings NV is a company incorporated in Belgium. The business address is: 9 Wittehoevelaan, Leuven, Belgium, 3000.