IRIS Accounts Production v23.3.1.45 07173311 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071733112022-02-28071733112023-02-28071733112022-03-012023-02-28071733112021-02-28071733112021-03-012022-02-28071733112022-02-2807173311ns10:Originalns15:EnglandWales2022-03-012023-02-2807173311ns14:PoundSterlingns10:Original2022-03-012023-02-2807173311ns10:Originalns10:Director12022-03-012023-02-2807173311ns10:Original2022-03-012023-02-2807173311ns10:Original2023-02-2807173311ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2807173311ns10:Originalns10:SmallEntities2022-03-012023-02-2807173311ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2807173311ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2807173311ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2807173311ns10:Originalns10:FullAccounts2022-03-012023-02-2807173311ns10:Original12022-03-012023-02-2807173311ns10:Originalns10:Director22022-03-012023-02-2807173311ns10:CompanySecretary1ns10:Original2022-03-012023-02-2807173311ns10:Originalns10:RegisteredOffice2022-03-012023-02-2807173311ns10:Original2022-02-2807173311ns10:Originalns5:CurrentFinancialInstruments2023-02-2807173311ns10:Originalns5:CurrentFinancialInstruments2022-02-2807173311ns10:Originalns5:Non-currentFinancialInstruments2023-02-2807173311ns10:Originalns5:Non-currentFinancialInstruments2022-02-2807173311ns5:ShareCapitalns10:Original2023-02-2807173311ns5:ShareCapitalns10:Original2022-02-2807173311ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2807173311ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2807173311ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-03-012023-02-2807173311ns10:Originalns5:LeaseholdImprovements2022-03-012023-02-2807173311ns10:Originalns5:PlantMachinery2022-03-012023-02-2807173311ns10:Originalns5:FurnitureFittings2022-03-012023-02-2807173311ns10:Originalns5:MotorVehicles2022-03-012023-02-2807173311ns10:Originalns5:ComputerEquipment2022-03-012023-02-2807173311ns10:Original2021-03-012022-02-2807173311ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-2807173311ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-012023-02-2807173311ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-02-2807173311ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-2807173311ns10:Originalns5:PlantMachinery2022-02-2807173311ns10:Originalns5:PlantMachinery2023-02-2807173311ns10:Originalns5:PlantMachinery2022-02-2807173311ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807173311ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2807173311ns10:Originalns5:DeferredTaxation2022-02-2807173311ns10:Originalns5:DeferredTaxation2022-03-012023-02-2807173311ns10:Originalns5:DeferredTaxation2023-02-2807173311ns10:Original1ns10:Director12022-02-2807173311ns10:Original1ns10:Director12021-02-2807173311ns10:Original1ns10:Director12022-03-012023-02-2807173311ns10:Original1ns10:Director12021-03-012022-02-2807173311ns10:Original1ns10:Director12023-02-2807173311ns10:Original1ns10:Director12022-02-2807173311ns10:Originalns10:Director222022-02-2807173311ns10:Originalns10:Director222021-02-2807173311ns10:Originalns10:Director222022-03-012023-02-2807173311ns10:Originalns10:Director222021-03-012022-02-2807173311ns10:Originalns10:Director222023-02-2807173311ns10:Originalns10:Director222022-02-28
REGISTERED NUMBER: 07173311 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SUILVISION LIMITED

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUILVISION LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: J Barnard
P Noton





SECRETARY: J Barnard





REGISTERED OFFICE: Unit E
Birch Business Park
Whittle Lane
Heywood
Lancashire
OL10 2SX





REGISTERED NUMBER: 07173311 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

STATEMENT OF FINANCIAL POSITION
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 693,218 593,145
Tangible assets 5 48,181 253,165
741,399 846,310

CURRENT ASSETS
Stocks 476,786 523,325
Debtors 6 575,274 513,576
Cash at bank and in hand 629,702 220,633
1,681,762 1,257,534
CREDITORS
Amounts falling due within one year 7 567,960 293,941
NET CURRENT ASSETS 1,113,802 963,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,855,201

1,809,903

CREDITORS
Amounts falling due after more than one
year

8

(108,333

)

-

PROVISIONS FOR LIABILITIES 10 (12,000 ) (63,300 )
NET ASSETS 1,734,868 1,746,603

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,734,768 1,746,503
SHAREHOLDERS' FUNDS 1,734,868 1,746,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

STATEMENT OF FINANCIAL POSITION - continued
28 February 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:





J Barnard - Director


SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Suilvision Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

The company recognises revenue when the significant risks and rewards of ownership has transferred to the buyer. This is usually the point that the customer has signed for the delivery of the goods.

Intangible assets
Intangible assets comprising Automatic Number Plate Recognition Technology, are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided evenly over their estimated useful life of eight years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - straight line over 5 years
Plant and machinery - 25% on reducing balance and 12.5% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment on rental - 25% on cost and over the period of the lease

Tangible fixed assets are stated at cost less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Government income
The company has claimed monies from HMRC and local Government as part of the Government COVID-19 grant scheme. This is recognised immediately the benefit becomes due.

Stocks and work in progress
Stocks and work in progress have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research is expensed in the year in which it is incurred. Development expenditure is capitalised and amortised in accordance with the accounting policy.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Short term employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 16 ) .

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022 931,321
Additions 222,859
At 28 February 2023 1,154,180
AMORTISATION
At 1 March 2022 338,176
Charge for year 122,786
At 28 February 2023 460,962
NET BOOK VALUE
At 28 February 2023 693,218
At 28 February 2022 593,145

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 711,014
Additions 29,583
Disposals (507,447 )
At 28 February 2023 233,150
DEPRECIATION
At 1 March 2022 457,849
Charge for year 76,270
Eliminated on disposal (349,150 )
At 28 February 2023 184,969
NET BOOK VALUE
At 28 February 2023 48,181
At 28 February 2022 253,165

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 213,976 205,294
Other debtors 361,298 308,282
575,274 513,576

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 -
Trade creditors 145,938 167,980
Taxation and social security 223,168 71,424
Other creditors 148,854 54,537
567,960 293,941

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 108,333 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 158,333 -

The bank loan is secured by a fixed and floating charge over all assets.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,000 63,300

Deferred
tax
£   
Balance at 1 March 2022 63,300
Provided during year (51,300 )
Balance at 28 February 2023 12,000

11. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £34,117 (2022 - £66,050)

SUILVISION LIMITED (REGISTERED NUMBER: 07173311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
J Barnard
Balance outstanding at start of year 147,585 79,634
Amounts advanced 200,734 217,833
Amounts repaid (238,085 ) (149,882 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,234 147,585

P Noton
Balance outstanding at start of year 47,302 -
Amounts advanced 141,471 119,302
Amounts repaid (132,802 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,971 47,302

Interest has been charged at 2.25%.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £370,887 (2022 - £221,882) were paid to the directors .

During the year the company paid rent and related costs amounting to £30,000 (2022: £30,000) to J Barnard.