2021-11-01 2022-10-31 SC645319 Visualise It First Ltd false SC645319 2021-11-01 2022-10-31 SC645319 uk-bus:Director1 2021-11-01 2022-10-31 SC645319 uk-bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 SC645319 uk-bus:SmallEntities 2021-11-01 2022-10-31 SC645319 uk-bus:FullAccounts 2021-11-01 2022-10-31 SC645319 uk-bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 SC645319 2021-11-01 SC645319 2022-10-31 SC645319 2021-10-31 xbrli:pure iso4217:GBP SC645319 2020-11-01 2021-10-31
Company Registration Number : SC645319 (Scotland)
SC645319
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2022-10-31
false
Visualise It First Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2021-11-01
Visualise It First Ltd
Unaudited filleted financial statements
For the year ended 31 October 2022
Visualise It First Ltd
Contents
For the year ended 31 October 2022

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


Visualise It First Ltd
Company Information
For the year ended 31 October 2022

Company registration number SC645319 (Scotland)
Director Rodney Munyaradzi GWENZI
Registered office address 272 Bath Street
Glasgow
G2 4JR
Accountant Nadeem S. Mitha
Chartered Certified Accountant
13 Ramillies Road
Mill Hill
NW7 4LY
Visualise It First Ltd
Statement of Financial Position
For the year ended 31 October 2022

2022 2021
Notes £ £
Fixed assets
Property, plant and equipment - 333
7 - 333
Current assets
Inventories 250 -
Cash and cash equivalents 1,010 480
1,260 480
Current liabilities
Creditors: Amounts falling due within one year (11,596) (2,417)
(11,596) (2,417)
Net current (liabilities)/assets (10,336) (1,938)
Total assets less current liabilities (10,336) (1,604)
Net (liabilities)/assets (10,336) (1,604)
Capital and reserves
Called up share capital 1 1
Retained earnings (10,337) (1,605)
Shareholder's funds (10,336) (1,604)
For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 October 2023
.............................
Rodney Munyaradzi GWENZI (Director)
Company registration number: SC645319
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2022-10-31 31 October 2022
2022 2021
£ £
Fixed Assets 0 333
Current Assets 1,260 480
Creditors: amounts falling due within one year (11,596) (2,417)
Net current assets (liabilities) (10,336) (1,938)
Total assets less current liabilities (10,336) (1,604)
Net Assets (liabilities) (10,336) (1,604)
Capital and Reserves (10,336) (1,604)
For the year ending 10/31/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-10-2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 24 October 2023 2023-10-24 and signed on behalf of the board,
.............................
Rodney Munyaradzi GWENZI
Director
Company registration number: SC645319
Visualise It First Ltd
Notes to the Financial Statements
For the year ended 31 October 2022

(1) General Information
The company is a private company limited by shares and is registered in Scotland. The address of the registered office is 272 Bath Street, Glasgow, G2 4JR.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Rendering of Services
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment33% straight line
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Going Concern
The accounts have been prepared on the going concern basis despite the balance sheet showing an insolvent position at the year end date.

The director has agreed to financially support the company for the foreseeable future. On this basis the director believes the the accounts are appropriately prepared on a going concern basis.
Taxation and Deferred Tax
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.

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.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Employees
During the year, the average number of employees including director was 1 (2021 : 1).

(6) Related party transactions
At the balance sheet date, the amount payable to the directors amounted to £8,646 (2021 : £2,418). The balance is interest free, unsecured and repayable on demand.

(7) Fixed assets
Tangible

£
Cost
As at 01 November 20211,000
As at 31 October 20221,000
Depreciation/Amortisation
For the year1,000
As at 31 October 20221,000
Net book value
As at 31 October 2022-
As at 31 October 20211,000