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REGISTERED NUMBER: 09581889 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2021

for

Pro-Vision Developments Ltd

Pro-Vision Developments Ltd (Registered number: 09581889)

Contents of the Financial Statements
for the Year Ended 30 June 2021










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pro-Vision Developments Ltd

Company Information
for the Year Ended 30 June 2021







DIRECTORS: Mr J R Field
Mr O M Nawoj





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 09581889 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Pro-Vision Developments Ltd (Registered number: 09581889)

Abridged Balance Sheet
30 June 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 400,000 315,000

CURRENT ASSETS
Cash at bank 604 256

CREDITORS
Amounts falling due within one year 40,573 49,047
NET CURRENT LIABILITIES (39,969 ) (48,791 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,031

266,209

CREDITORS
Amounts falling due after more than one
year

6

(233,586

)

(233,560

)

PROVISIONS FOR LIABILITIES (25,759 ) (7,938 )
NET ASSETS 100,686 24,711

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 9 100,682 24,707
SHAREHOLDERS' FUNDS 100,686 24,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Pro-Vision Developments Ltd (Registered number: 09581889)

Abridged Balance Sheet - continued
30 June 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




Mr J R Field - Director



Mr O M Nawoj - Director


Pro-Vision Developments Ltd (Registered number: 09581889)

Notes to the Financial Statements
for the Year Ended 30 June 2021


1. STATUTORY INFORMATION

Pro-Vision Developments 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


Pro-Vision Developments Ltd (Registered number: 09581889)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2021


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Going concern
The company has net current liabilities of £39,969 (2020 - £48,791).

The directors are considering the possibility of ceasing to trade within 12 months from the date of approval of these accounts, and therefore have not given detailed consideration to a period of 12 months from the date of approval.

As no formal decision has been made in this regard, the directors continue to adopt the going concern basis of accounting. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2020 315,000
Revaluations 85,000
At 30 June 2021 400,000
NET BOOK VALUE
At 30 June 2021 400,000
At 30 June 2020 315,000

Fair value at 30 June 2021 is represented by:
£   
Valuation in 2016 114,698
Valuation in 2020 (18,243 )
Valuation in 2021 85,000
Cost 218,545
400,000

Pro-Vision Developments Ltd (Registered number: 09581889)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2021


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 218,545 218,545

The freehold investment property was valued on an open market basis at the balance sheet date.

The investment property is accounted for at fair value on an on-going basis.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2021 2020
£    £   
Repayable otherwise than by instalments
Bank loans due after 5 years - 233,560

7. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 233,586 233,560

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
4 Ordinary £1 4 4

9. RESERVES

Included in retained earnings is £155,696 (2020 - £88,517) of profits which are not available for distribution as they are unrealised.