Vision 2000 (UK) Limited 04575186 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of manufacturers of aluminium windows and doors Digita Accounts Production Advanced 6.30.9574.0 true 04575186 2023-01-01 2023-12-31 04575186 2023-12-31 04575186 bus:CompanySecretaryDirector1 1 2023-12-31 04575186 bus:Director2 1 2023-12-31 04575186 bus:OrdinaryShareClass1 2023-12-31 04575186 bus:OrdinaryShareClass2 2023-12-31 04575186 bus:OrdinaryShareClass3 2023-12-31 04575186 core:CurrentFinancialInstruments 2023-12-31 04575186 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04575186 core:FurnitureFittingsToolsEquipment 2023-12-31 04575186 core:MotorVehicles 2023-12-31 04575186 core:OtherPropertyPlantEquipment 2023-12-31 04575186 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-12-31 04575186 bus:SmallEntities 2023-01-01 2023-12-31 04575186 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04575186 bus:AbridgedAccounts 2023-01-01 2023-12-31 04575186 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04575186 bus:RegisteredOffice 2023-01-01 2023-12-31 04575186 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 04575186 bus:CompanySecretaryDirector1 1 2023-01-01 2023-12-31 04575186 bus:Director2 2023-01-01 2023-12-31 04575186 bus:Director2 1 2023-01-01 2023-12-31 04575186 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04575186 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 04575186 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 04575186 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04575186 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04575186 core:MotorVehicles 2023-01-01 2023-12-31 04575186 core:OfficeEquipment 2023-01-01 2023-12-31 04575186 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04575186 core:PlantMachinery 2023-01-01 2023-12-31 04575186 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 04575186 countries:EnglandWales 2023-01-01 2023-12-31 04575186 2022-12-31 04575186 bus:CompanySecretaryDirector1 1 2022-12-31 04575186 bus:Director2 1 2022-12-31 04575186 core:FurnitureFittingsToolsEquipment 2022-12-31 04575186 core:MotorVehicles 2022-12-31 04575186 core:OtherPropertyPlantEquipment 2022-12-31 04575186 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 04575186 2022-01-01 2022-12-31 04575186 2022-12-31 04575186 bus:CompanySecretaryDirector1 1 2022-12-31 04575186 bus:Director2 1 2022-12-31 04575186 bus:OrdinaryShareClass1 2022-12-31 04575186 bus:OrdinaryShareClass2 2022-12-31 04575186 bus:OrdinaryShareClass3 2022-12-31 04575186 core:CurrentFinancialInstruments 2022-12-31 04575186 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04575186 core:FurnitureFittingsToolsEquipment 2022-12-31 04575186 core:MotorVehicles 2022-12-31 04575186 core:OtherPropertyPlantEquipment 2022-12-31 04575186 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-12-31 04575186 bus:CompanySecretaryDirector1 1 2022-01-01 2022-12-31 04575186 bus:Director2 1 2022-01-01 2022-12-31 04575186 2021-12-31 04575186 bus:CompanySecretaryDirector1 1 2021-12-31 04575186 bus:Director2 1 2021-12-31 04575186 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04575186

Vision 2000 (UK) Limited



Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Vision 2000 (UK) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Vision 2000 (UK) Limited

Company Information

Director

Mr S R Hagain

Registered office

Unit 215 Springvale Ind Estate
Cwmbran
Torfaen
NP44 5BJ

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Vision 2000 (UK) Limited

(Registration number: 04575186)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

61,612

33,037

Current assets

 

Stocks

5

164,451

308,686

Debtors

110,463

186,569

Cash at bank and in hand

 

145,717

119,850

 

420,631

615,105

Prepayments and accrued income

 

-

320

Creditors: Amounts falling due within one year

(206,282)

(382,186)

Net current assets

 

214,349

233,239

Total assets less current liabilities

 

275,961

266,276

Provisions for liabilities

(15,404)

(6,277)

Accruals and deferred income

 

(13,560)

(13,875)

Net assets

 

246,997

246,124

Capital and reserves

 

Called up share capital

6

70

120

Capital redemption reserve

50

-

Revaluation reserve

4,600

4,600

Retained earnings

242,277

241,404

Shareholders' funds

 

246,997

246,124

 

Vision 2000 (UK) Limited

(Registration number: 04575186)
Abridged Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director on 7 February 2024
 

.........................................

Mr S R Hagain
Director

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
Unit 215 Springvale Ind Estate
Cwmbran
Torfaen
NP44 5BJ
United Kingdom

These financial statements were authorised for issue by the director on 7 February 2024.

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 abridged 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 abridged 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax 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 balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% straight line

Office Equipment

20% straight line

Motor Vehicles

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2022 - 11).

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

3,253

62,706

199,824

265,783

Additions

3,585

53,079

2,862

59,526

Disposals

-

(35,880)

-

(35,880)

At 31 December 2023

6,838

79,905

202,686

289,429

Depreciation

At 1 January 2023

2,795

34,030

195,921

232,746

Charge for the year

566

8,020

2,631

11,217

Eliminated on disposal

-

(16,146)

-

(16,146)

At 31 December 2023

3,361

25,904

198,552

227,817

Carrying amount

At 31 December 2023

3,477

54,001

4,134

61,612

At 31 December 2022

458

28,676

3,903

33,037

5

Stocks

2023
£

2022
£

Work in progress

159,451

303,686

Other inventories

5,000

5,000

164,451

308,686

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

50

50

100

100

Ordinary B of £1 each

10

10

10

10

Ordinary C of £1 each

10

10

10

10

 

70

70

120

120

7

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr G C Meese

Advances / repayments

(6,206)

-

6,206

-

         
       

Mr S R Hagain

Advances / repayments

(6,206)

(630)

6,836

-

         
       

 

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

Mr G C Meese

Advances / repayments

23,794

(30,000)

(6,206)

       
     

Mr S R Hagain

Advances / repayments

23,794

(30,000)

(6,206)

       
     

 

Vision 2000 (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

 

Summary of transactions with entities with joint control or significant interest



 

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

21,953

21,953

Advanced

15,996

15,996

Repaid

(18,497)

(18,497)

At end of period

19,452

19,452

2022

Entities with joint control or significant influence
£

Total
£

At start of period

21,953

21,953

At end of period

21,953

21,953