IRIS Accounts Production v24.1.4.33 06474760 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064747602023-03-31064747602024-03-31064747602023-04-012024-03-31064747602022-03-31064747602022-04-012023-03-31064747602023-03-3106474760ns15:EnglandWales2023-04-012024-03-3106474760ns14:PoundSterling2023-04-012024-03-3106474760ns10:Director12023-04-012024-03-3106474760ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106474760ns10:SmallEntities2023-04-012024-03-3106474760ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106474760ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106474760ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106474760ns10:FullAccounts2023-04-012024-03-3106474760ns10:Director22023-04-012024-03-3106474760ns10:Director32023-04-012024-03-3106474760ns10:RegisteredOffice2023-04-012024-03-3106474760ns5:CurrentFinancialInstruments2024-03-3106474760ns5:CurrentFinancialInstruments2023-03-3106474760ns5:Non-currentFinancialInstruments2024-03-3106474760ns5:Non-currentFinancialInstruments2023-03-3106474760ns5:ShareCapital2024-03-3106474760ns5:ShareCapital2023-03-3106474760ns5:RetainedEarningsAccumulatedLosses2024-03-3106474760ns5:RetainedEarningsAccumulatedLosses2023-03-3106474760ns5:PlantMachinery2023-04-012024-03-3106474760ns5:FurnitureFittings2023-04-012024-03-3106474760ns5:MotorVehicles2023-04-012024-03-3106474760ns5:ComputerEquipment2023-04-012024-03-3106474760ns5:PlantMachinery2023-03-3106474760ns5:PlantMachinery2024-03-3106474760ns5:PlantMachinery2023-03-3106474760ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106474760ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106474760ns5:WithinOneYear2024-03-3106474760ns5:WithinOneYear2023-03-3106474760ns5:BetweenOneFiveYears2024-03-3106474760ns5:BetweenOneFiveYears2023-03-3106474760ns5:AllPeriods2024-03-3106474760ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 06474760 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

One Sightsolutions Limited

One Sightsolutions Limited (Registered number: 06474760)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


One Sightsolutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J M A Clarke
Mr S J Geary
Mr T O Stephens





REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN





REGISTERED NUMBER: 06474760 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

One Sightsolutions Limited (Registered number: 06474760)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 106,059 89,811

CURRENT ASSETS
Stocks 267,541 174,581
Debtors 5 3,447,634 3,664,898
Cash at bank and in hand 830,826 323,012
4,546,001 4,162,491
CREDITORS
Amounts falling due within one year 6 (1,865,903 ) (1,614,688 )
NET CURRENT ASSETS 2,680,098 2,547,803
TOTAL ASSETS LESS CURRENT LIABILITIES 2,786,157 2,637,614

CREDITORS
Amounts falling due after more than one year 7 - (152,000 )

PROVISIONS FOR LIABILITIES (26,515 ) (22,453 )
NET ASSETS 2,759,642 2,463,161

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 2,759,634 2,463,153
2,759,642 2,463,161

One Sightsolutions Limited (Registered number: 06474760)

Balance Sheet - continued
31 March 2024


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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mr S J Geary - Director


One Sightsolutions Limited (Registered number: 06474760)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

One Sightsolutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover from resale of third party products, software and subscriptions is recognised on supply. Turnover from services including support, consulting and software application services is recognised over the term of the contract. All amounts are exclusive of Value Added Tax.

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

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and therefore at fair value, with changes recognised in profit and loss.

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

Current or deferred taxation assets and liabilities are not discounted.

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.


One Sightsolutions Limited (Registered number: 06474760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Confidential invoice discounting
The company has a confidential invoice discounting facility. The accounting policy is to include trade debtors and the returnable element of the proceeds within current liabilities. Service charges and interest are charged to the profit and loss account when incurred. Bad debts are borne by the company and are charged to the profit and loss account when incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 372,522
Additions 73,419
Disposals (300 )
At 31 March 2024 445,641
DEPRECIATION
At 1 April 2023 282,711
Charge for year 56,913
Eliminated on disposal (42 )
At 31 March 2024 339,582
NET BOOK VALUE
At 31 March 2024 106,059
At 31 March 2023 89,811

One Sightsolutions Limited (Registered number: 06474760)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,209,784 1,370,224
Amounts owed by group undertakings 1,767,800 1,737,800
Other debtors 470,050 556,874
3,447,634 3,664,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,162,322 931,016
Taxation and social security 197,498 144,297
Other creditors 506,083 539,375
1,865,903 1,614,688

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors - 152,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 83,786 71,774
Between one and five years 103,832 154,586
187,618 226,360

9. ULTIMATE PARENT COMPANY

One Sight Group Limited is regarded by the directors as being the company's ultimate parent company.