Eye VFX Ltd 10070589 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the supply of visual effect services to media companies. Digita Accounts Production Advanced 6.30.9574.0 true 10070589 2022-04-01 2023-03-31 10070589 2023-03-31 10070589 core:CurrentFinancialInstruments 2023-03-31 10070589 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10070589 core:FurnitureFittingsToolsEquipment 2023-03-31 10070589 bus:SmallEntities 2022-04-01 2023-03-31 10070589 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10070589 bus:FullAccounts 2022-04-01 2023-03-31 10070589 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10070589 bus:RegisteredOffice 2022-04-01 2023-03-31 10070589 bus:Director1 2022-04-01 2023-03-31 10070589 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10070589 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10070589 core:ToolsEquipment 2022-04-01 2023-03-31 10070589 countries:EnglandWales 2022-04-01 2023-03-31 10070589 2022-03-31 10070589 core:FurnitureFittingsToolsEquipment 2022-03-31 10070589 2021-04-01 2022-03-31 10070589 2022-03-31 10070589 core:CurrentFinancialInstruments 2022-03-31 10070589 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10070589 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 10070589

Eye VFX Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Eye VFX Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Eye VFX Ltd

(Registration number: 10070589)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

429

644

Current assets

 

Debtors

5

1,580

4,220

Cash at bank and in hand

 

17,715

8,073

 

19,295

12,293

Creditors: Amounts falling due within one year

6

(17,255)

(4,290)

Net current assets

 

2,040

8,003

Total assets less current liabilities

 

2,469

8,647

Provisions for liabilities

(82)

(122)

Net assets

 

2,387

8,525

Capital and reserves

 

Called up share capital

101

100

Retained earnings

2,286

8,425

Shareholders' funds

 

2,387

8,525

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 November 2023 and signed on its behalf by:
 

.........................................
T E Downes
Director

 

Eye VFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements, and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% on cost

 

Eye VFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business, and are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially at the transaction price.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,494

2,494

At 31 March 2023

2,494

2,494

Depreciation

At 1 April 2022

1,850

1,850

Charge for the year

215

215

At 31 March 2023

2,065

2,065

Net book value

At 31 March 2023

429

429

At 31 March 2022

644

644

 

Eye VFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Trade debtors

1,580

4,220

1,580

4,220

6

Creditors

Amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

283

Accruals and deferred income

1,182

1,100

Other creditors

14,305

624

Corporation tax

1,768

2,283

17,255

4,290