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Registration number: 12246290

Vision Project Consulting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 October 2022

 

Vision Project Consulting Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Vision Project Consulting Ltd

Company Information

Director

Mr David Renn

Registered office

27 Old Gloucester Street
London
WC1N 3AX

Accountants

CityTrust Accounts Limited
Innovation Centre
Knowledge Gateway
Boundary Road
Colchester
CO4 3ZQ

 

Vision Project Consulting Ltd

(Registration number: 12246290)
Balance Sheet as at 30 October 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

-

513

Current assets

 

Debtors

5

30,882

26,729

Cash at bank and in hand

 

27,826

790

 

58,708

27,519

Creditors: Amounts falling due within one year

6

(135,367)

(59,801)

Net current liabilities

 

(76,659)

(32,282)

Net liabilities

 

(76,659)

(31,769)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(76,660)

(31,770)

Shareholders' deficit

 

(76,659)

(31,769)

For the financial year ending 30 October 2022 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 March 2023
 

.........................................
Mr David Renn
Director

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2022

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:
27 Old Gloucester Street
London
WC1N 3AX
United Kingdom

These financial statements were authorised for issue by the director on 1 March 2023.

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 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 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 sales/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.

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

Office Equipment

33% straight line basis

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2022

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 October 2021

1,537

1,537

At 30 October 2022

1,537

1,537

Depreciation

At 31 October 2021

1,024

1,024

Charge for the year

513

513

At 30 October 2022

1,537

1,537

Carrying amount

At 30 October 2022

-

-

At 30 October 2021

513

513

5

Debtors

Current

2022
£

2021
£

Trade debtors

25,272

26,568

Prepayments

-

111

Other debtors

5,610

50

 

30,882

26,729

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

92

30,000

Taxation and social security

457

3,543

Accruals and deferred income

21,060

22,140

Other creditors

113,758

4,118

135,367

59,801

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

ordinary of £1 each

1

1

1

1

         

8

Related party transactions

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2022

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

293,738

202,600