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Registration number: 05124782

Vision 2000 (Holdings) Limited



Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

Company Information

Director

Mr S R Hagain

Registered office

Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Accountants

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

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

(Registration number: 05124782)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

20,400

20,400

Current assets

 

Cash at bank and in hand

 

4,225

50,619

Creditors: Amounts falling due within one year

(24,452)

(70,952)

Net current liabilities

 

(20,227)

(20,333)

Net assets

 

173

67

Capital and reserves

 

Called up share capital

5

60

120

Capital redemption reserve

60

-

Retained earnings

53

(53)

Shareholders' funds

 

173

67

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

(Registration number: 05124782)
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.

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary 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 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

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:
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

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

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

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

4

Investments

Total
£

Cost or valuation

At 1 January 2023

20,400

Provision

Carrying amount

At 31 December 2023

20,400

At 31 December 2022

20,400

5

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

Ordinary C of £1 each

10

10

10

10

 

60

60

120

120

 

Vision 2000 (Holdings) Limited

trading as Vision 2000 (Holdings) Ltd

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

6

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr S R Hagain

Advances / repayments

(25,000)

20,000

-

(5,000)

         
       

Mr G C Meese

Advances / repayments

(25,000)

25,000

-

-

         
       

 

2022

At 1 January 2022
£

Repayments by director
£

At 31 December 2022
£

Mr S R Hagain

Advances / repayments

-

(25,000)

(25,000)

       
     

Mr G C Meese

Advances / repayments

-

(25,000)

(25,000)

       
     

 

Summary of transactions with other related parties

Vision 2000 (UK) Ltd
 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

20,952

20,952

Advanced

15,966

15,966

Repaid

(17,466)

(17,466)

At end of period

19,452

19,452

2022

Other related parties
£

Total
£

At start of period

21,952

21,952

Repaid

(1,000)

(1,000)

At end of period

20,952

20,952