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Registration number: 12246290

Vision Project Consulting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 October 2023

 

Vision Project Consulting Ltd

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

 

Vision Project Consulting Ltd

Company Information

Director

Mr David Renn

Registered office

27 Old Gloucester Street
London
WC1N 3AX

Accountants

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

 

Vision Project Consulting Ltd

Director's Report for the Year Ended 30 October 2023

The director presents his report and the financial statements for the year ended 30 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr David Renn

Principal activity

The principal activity of the company is Business and management consultancy

Small companies provision statement

This report has 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.

Approved and authorised by the director on 25 July 2024
 

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

 

Vision Project Consulting Ltd

Profit and Loss Account for the Year Ended 30 October 2023

Note

2023
£

2022
£

Turnover

 

109,620

267,308

Cost of sales

 

(109,620)

(293,738)

Gross loss

 

-

(26,430)

Administrative expenses

 

(11,164)

(18,460)

Operating loss

 

(11,164)

(44,890)

Loss before tax

4

(11,164)

(44,890)

Loss for the financial year

 

(11,164)

(44,890)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Vision Project Consulting Ltd

Statement of Comprehensive Income for the Year Ended 30 October 2023

2023
£

2022
£

Loss for the year

(11,164)

(44,890)

Total comprehensive income for the year

(11,164)

(44,890)

 

Vision Project Consulting Ltd

(Registration number: 12246290)
Balance Sheet as at 30 October 2023

Note

2023
£

(As restated)

2022
£

Current assets

 

Debtors

6

20,218

32,263

Cash at bank and in hand

 

1

27,826

 

20,219

60,089

Creditors: Amounts falling due within one year

7

(106,661)

(135,367)

Net liabilities

 

(86,442)

(75,278)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(86,443)

(75,279)

Shareholders' deficit

 

(86,442)

(75,278)

For the financial year ending 30 October 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.

Approved and authorised by the director on 25 July 2024
 

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

 

Vision Project Consulting Ltd

Statement of Changes in Equity for the Year Ended 30 October 2023

Share capital
£

Retained earnings
£

Total
£

At 31 October 2022

1

(75,279)

(75,278)

Loss for the year

-

(11,164)

(11,164)

At 30 October 2023

1

(86,443)

(86,442)

Share capital
£

Retained earnings
£

Total
£

At 31 October 2021

1

(31,770)

(31,769)

Prior period adjustment

-

1,381

1,381

At 31 October 2021 (As restated)

1

(30,389)

(30,388)

Loss for the year

-

(44,890)

(44,890)

At 30 October 2022

1

(75,279)

(75,278)

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 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:
27 Old Gloucester Street
London
WC1N 3AX
United Kingdom

These financial statements were authorised for issue by the director on 25 July 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2023

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

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 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

-

513

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 October 2022

1,537

1,537

At 30 October 2023

1,537

1,537

Depreciation

At 31 October 2022

1,537

1,537

At 30 October 2023

1,537

1,537

Carrying amount

At 30 October 2023

-

-

6

Debtors

Current

2023
£

(As restated)

2022
£

Trade debtors

-

25,272

Other debtors

20,218

6,991

 

20,218

32,263

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

92

Taxation and social security

-

457

Accruals and deferred income

-

21,060

Other creditors

106,661

113,758

106,661

135,367

8

Share capital

Allotted, called up and fully paid shares

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2023

2023

2022

No.

£

No.

£

ordinary of £1 each

1

1

1

1

       

9

Related party transactions

 

Vision Project Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 October 2023

Director's remuneration

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

2023
£

2022
£

Remuneration

109,620

293,738