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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Vesalius Holding Limited is a limited liability company incorporated in England and Wales with its principal place of business and registered office at 6th Floor, One London Wall, London, EC2Y 5EB.
The principal activity of the Company was that of software development.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Ihe Company is non-trading and had net liabilities of £3,600 at 31 December 2024 (2023 - £3,600). Its parent undertaking, Dimension Communication Ltd, has confirmed that it will provide financial support for at least twelve months from the date of approval of these financial statements. The directors have therefore prepared the financial statements on the going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is £ Sterling .
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Short term creditors are measured at the transaction price.
The company only enters into basic financial instrument transactions that result in the recognitions of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.
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