Vidaveo Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09857880

VIDAVEO LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

VIDAVEO LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents	Pages

Balance sheet 1 to 2

Notes to the financial statements 3 to 6

VIDAVEO LIMITED

BALANCE SHEET

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	1,535	5,038

Current assets

Debtors	6	1,415	900
Cash at bank and in hand		4,283	2,124
		-------------	-------------
		5,698	3,024

Creditors: amounts falling due within one year	7	( 4,498)	( 4,996)
		-------------	-------------
Net current assets/(liabilities)		1,200	( 1,972)
		-------------	-------------
Total assets less current liabilities		2,735	3,066

Creditors: amounts falling due after more than one year	8	( 2,334)	( 3,133)

Provisions	( 292)	–
	-------------	-------------
Net assets/(liabilities)	109	( 67)
	-------------	-------------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		9	( 167)
		-------------	-------------
Shareholders funds/(deficit)		109	( 67)
		-------------	-------------

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 profit and loss account has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

VIDAVEO LIMITED

BALANCE SHEET (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 4 October 2023 , and are signed on behalf of the board by:

A E Gill
Director

Company registration number: 09857880

VIDAVEO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.

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. 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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	Equipment	-	33% straight line

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2022	36,524
Additions	719
	-------------
At 31 March 2023	37,243
	-------------
Depreciation
At 1 April 2022	31,486
Charge for the year	4,222
	-------------
At 31 March 2023	35,708
	-------------
Carrying amount
At 31 March 2023	1,535
	-------------
At 31 March 2022	5,038
	-------------

6. Debtors

	2023	2022
	£	£
Trade debtors	–	900
Director's loan account	1,000	–
Other debtors	415	–
	-------------	-------------
	1,415	900
	-------------	-------------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	800	801
Accruals and deferred income	2,677	750
Corporation tax	305	–
Social security and other taxes	716	482
Director loan accounts	–	2,963
	-------------	-------------
	4,498	4,996
	-------------	-------------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	2,334	3,133
	-------------	-------------

9. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2023	2022
	£	£
Included in provisions	292	–
	-------------	-------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2023	2022
	£	£
Accelerated capital allowances	292	–
	-------------	-------------

10. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	-------------	-------------	-------------	-------------

11. Related party transactions

The director's loan account included in debtors amounting to £1,000 (2022: £2,963 creditor) is unsecured, repayable on demand and is currently interest free. The company is controlled by the director.