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COMPANY REGISTRATION NUMBER: 07172451
Viewtime Limited
Filleted Unaudited Financial Statements
27 March 2022
Viewtime Limited
Statement of Financial Position
27 March 2022
2022
2021
Note
£
£
Current assets
Debtors
5
366
366
Cash at bank and in hand
489
51,881
----
--------
855
52,247
Creditors: amounts falling due within one year
6
72,321
124,319
--------
---------
Net current liabilities
71,466
72,072
--------
--------
Total assets less current liabilities
( 71,466)
( 72,072)
Creditors: amounts falling due after more than one year
7
50,000
50,000
---------
---------
Net liabilities
( 121,466)
( 122,072)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 121,566)
( 122,172)
---------
---------
Shareholders deficit
( 121,466)
( 122,072)
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 27 March 2022 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 financial statements for the year 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 financial statements .
Viewtime Limited
Statement of Financial Position (continued)
27 March 2022
These financial statements were approved by the board of directors and authorised for issue on 25 May 2022 , and are signed on behalf of the board by:
Demetris Papacharalambous
Director
Company registration number: 07172451
Viewtime Limited
Notes to the Financial Statements
Year ended 27 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Avondale House, 262 Uxbridge Road, Hatch End, Middlexex, HA5 4HS.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Debtors
2022
2021
£
£
Other debtors
366
366
----
----
6. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
83
Social security and other taxes
124
125
Other creditors
72,114
124,194
--------
---------
72,321
124,319
--------
---------
7. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
50,000
50,000
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Demetris Papacharalambous
( 124,194)
53,100
( 71,094)
---------
--------
--------
2021
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Demetris Papacharalambous
( 190,794)
66,600
( 124,194)
---------
--------
---------