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REGISTERED NUMBER: 02322340 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

VISIONGRADE SERVICES LIMITED

VISIONGRADE SERVICES LIMITED (REGISTERED NUMBER: 02322340)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VISIONGRADE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M D Brook
Mrs J B Brook





SECRETARY: Mr M D Brook





REGISTERED OFFICE: 139 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 02322340 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

VISIONGRADE SERVICES LIMITED (REGISTERED NUMBER: 02322340)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 855 1,132

CURRENT ASSETS
Debtors 5 44,732 38,057
Cash at bank 22,087 34,458
66,819 72,515
CREDITORS
Amounts falling due within one year 6 89,310 84,376
NET CURRENT LIABILITIES (22,491 ) (11,861 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,636

)

(10,729

)

PROVISIONS FOR LIABILITIES 267 215
NET LIABILITIES (21,903 ) (10,944 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (21,905 ) (10,946 )
SHAREHOLDERS' FUNDS (21,903 ) (10,944 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:



Mrs J B Brook - Director


VISIONGRADE SERVICES LIMITED (REGISTERED NUMBER: 02322340)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Visiongrade Services 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.

The accounts have been prepared on the basis of going concern. This basis may not be appropriate because the company had, 31st March 2023, net liabilities of £21,903 (2022 £10,944).
The validity of the going concern basis is dependent upon the continued support of the company's directors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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.

VISIONGRADE SERVICES LIMITED (REGISTERED NUMBER: 02322340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 1,101 7,157 8,258
DEPRECIATION
At 1 April 2022 1,050 6,076 7,126
Charge for year 8 269 277
At 31 March 2023 1,058 6,345 7,403
NET BOOK VALUE
At 31 March 2023 43 812 855
At 31 March 2022 51 1,081 1,132

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 33,714 28,695

Amounts falling due after more than one year:
Other debtors 11,018 9,362

Aggregate amounts 44,732 38,057

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 87,748 82,815
Other creditors 1,562 1,561
89,310 84,376

VISIONGRADE SERVICES LIMITED (REGISTERED NUMBER: 02322340)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M D Brook and Mrs J B Brook
Balance outstanding at start of year 28,695 11,526
Amounts advanced 5,019 17,169
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,714 28,695