REGISTERED NUMBER: 13744204 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

VISUADO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

L C Hellevik

Registered office:

66 Paul Street

London

EC2A 4NA

Registered number:

13744204 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

140

294

Current assets

Debtors

5

1,080

1,335

Cash at bank

455

78

1,535

1,413

Creditors

Amounts falling due within one year

6

381,387

355,353

Net current liabilities

(379,852

)

(353,940

)

Total assets less current liabilities

(379,712

)

(353,646

)

Capital and reserves

Called up share capital

7

1

1

Retained earnings

(379,713

)

(353,647

)

Shareholders' funds

(379,712

)

(353,646

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2026 and were signed by:

L C Hellevik - Director

1.	Statutory information

Visuado Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe the company has sufficient cash resources in order to meet its obligations, if and when, they fall due. In addition, the parent entity, Visuado AS, is committed to supporting the company in meeting its obligations, should it need to. It is for these reasons the directors are of the opinion that the financial statements should be prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

Straight line over 3 years

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises of current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	Employees and directors

The average number of employees during the year was NIL (2024 - 1 ).

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 December 2024

and 30 November 2025

460

Depreciation

At 1 December 2024

166

Charge for year

154

At 30 November 2025

320

Net book value

At 30 November 2025

140

At 30 November 2024

294

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Other debtors

1,080

1,335

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

2,880

-

Amounts owed to group undertakings

378,507

355,353

381,387

355,353

Amounts owed to group undertakings are unsecured, bear interest at the the rate set by the Norwegian tax administration and are repayable on demand.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1p

1

1

8.	Ultimate controlling party

The ultimate controlling party is Visuado AS.