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Registered Number: 08704085
England and Wales

 

 

 

VISUAL SECURITY GLOBAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Directors Darren Arthur Miller
Lawrie Grace Miller
Registered Number 08704085
Registered Office 106 Northwood Road
Harefield
Uxbridge
Middlesex
UB9 6PS
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 September 2023.
Principal activities
The principal activity of the company during the financial year was of security services.
Directors
The directors who served the company throughout the year were as follows:
Darren Arthur Miller
Lawrie Grace Miller
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Lawrie Grace Miller
Director

Date approved: 05 April 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Visual Security Global Ltd for the year ended 30 September 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Visual Security Global Ltd for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Visual Security Global Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Visual Security Global Ltd and state those matters that we have agreed to state to the Board of Directors of Visual Security Global Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Visual Security Global Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Visual Security Global Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Visual Security Global Ltd.You consider that Visual Security Global Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Visual Security Global Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 30 September 2023.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
05 April 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 21,986    13,539 
21,986    13,539 
Current assets      
Stocks 6 7,000    1,000 
Debtors 7 54,933    55,300 
Cash at bank and in hand 81,594    82,759 
143,527    139,059 
Creditors: amount falling due within one year 8 (71,119)   (118,052)
Net current assets 72,408    21,007 
 
Total assets less current liabilities 94,394    34,546 
Creditors: amount falling due after more than one year 9 (26,667)   (31,200)
Provisions for liabilities 10 (4,520)   (2,572)
Net assets 63,207    774 
 

Capital and reserves
     
Called up share capital 11 10    10 
Profit and loss account 63,197    764 
Shareholder's funds 63,207    774 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 05 April 2024 and were signed on its behalf by:


-------------------------------
Darren Arthur Miller
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 October 2021 10  1,311  1,321 
Profit for the year 47,453  47,453 
Total comprehensive income for the year 47,453  47,453 
Dividends (48,000) (48,000)
Total investments by and distributions to owners (48,000) (48,000)
At 30 September 2022 10  764  774 
At 01 October 2022 10  764  774 
Profit for the year 94,433  94,433 
Total comprehensive income for the year 94,433  94,433 
Dividends (32,000) (32,000)
Total investments by and distributions to owners (32,000) (32,000)
At 30 September 2023 10  63,197  63,207 
5
General Information
Visual Security Global Ltd is a private company, limited by shares, registered in England and Wales, registration number 08704085, registration address 106 Northwood Road, Harefield, Uxbridge, Middlesex, UB9 6PS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Straight Line
Office Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2023
£
  2022
£
Administrative Expenses
Directors Remuneration 18,120    17,880 
18,120    17,880 

3.

Staff Costs

2023
£
  2022
£
Wages and salaries 28,584    24,120 
Other staff costs 6,745    339 
35,329    24,459 

4.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Office Equipment   Total
  £   £   £   £
At 01 October 2022 11,412    21,125    2,466    35,003 
Additions 869    23,443    2,026    26,338 
Disposals   (21,125)     (21,125)
At 30 September 2023 12,281    23,443    4,492    40,216 
Depreciation
At 01 October 2022 9,272    10,562    1,630    21,464 
Charge for year 752    5,861    715    7,328 
On disposals   (10,562)     (10,562)
At 30 September 2023 10,024    5,861    2,345    18,230 
Net book values
Closing balance as at 30 September 2023 2,257    17,582    2,147    21,986 
Opening balance as at 01 October 2022 2,140    10,563    836    13,539 


6.

Stocks

2023
£
  2022
£
Stocks 7,000    1,000 
7,000    1,000 

7.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 54,933    55,300 
54,933    55,300 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 33,521    89,943 
Bank Loans & Overdrafts 4,000    3,467 
Corporation Tax 17,664    12,213 
PAYE & Social Security 1,404   
Other Creditors 1,350    1,258 
Director's current account: Robert Harris   3,485 
Director's current account: Darren Miller 3,783    3,710 
VAT 9,397    3,976 
71,119    118,052 

9.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 26,667    31,200 
26,667    31,200 

10.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 2,572    3,581 
Charged to Profit & Loss 1,948    (1,009)
4,520    2,572 

11.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
10 Class A shares of £1.00 each 10    10 
10    10 

6