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REGISTERED NUMBER: 03907073 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

VISION I.T. SYSTEMS LIMITED

VISION I.T. SYSTEMS LIMITED (REGISTERED NUMBER: 03907073)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VISION I.T. SYSTEMS LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







Director: Mr G J Strickland





Secretary: Mrs D T Strickland





Registered office: 4a Astley Road
Irlam
Greater Manchester
M44 6AB





Registered number: 03907073 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

VISION I.T. SYSTEMS LIMITED (REGISTERED NUMBER: 03907073)

Balance Sheet
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,402 995

CURRENT ASSETS
Debtors 5 7,447 12,179
Cash at bank 8,368 12,707
15,815 24,886
CREDITORS
Amounts falling due within one year 6 15,565 25,685
NET CURRENT ASSETS/(LIABILITIES) 250 (799 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,652

196

PROVISIONS FOR LIABILITIES 7 157 189
NET ASSETS 1,495 7

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 1,493 5
SHAREHOLDERS' FUNDS 1,495 7

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





Mr G J Strickland - Director


VISION I.T. SYSTEMS LIMITED (REGISTERED NUMBER: 03907073)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Vision I.T. Systems 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

VISION I.T. SYSTEMS LIMITED (REGISTERED NUMBER: 03907073)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 2,190 11,055 13,245
Additions - 899 899
At 31 January 2024 2,190 11,954 14,144
DEPRECIATION
At 1 February 2023 2,130 10,120 12,250
Charge for year 60 432 492
At 31 January 2024 2,190 10,552 12,742
NET BOOK VALUE
At 31 January 2024 - 1,402 1,402
At 31 January 2023 60 935 995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 7,259 12,004
Other debtors 188 175
7,447 12,179

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 6,015 5,746
Taxation and social security 9,533 9,419
Other creditors 17 10,520
15,565 25,685

7. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 157 189

Deferred
tax
£   
Balance at 1 February 2023 189
Utilised during year (32 )
Balance at 31 January 2024 157

VISION I.T. SYSTEMS LIMITED (REGISTERED NUMBER: 03907073)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary 1 2 2