Registered number
07083006
Shinevision Ltd
Filleted Accounts
31 March 2024
Shinevision Ltd
Registered number: 07083006
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 82,813 145,650
Current assets
Debtors 4 206,221 181,938
Cash at bank and in hand 37,753 18,628
243,974 200,566
Creditors: amounts falling due within one year 5 (257,569) (243,916)
Net current liabilities (13,595) (43,350)
Total assets less current liabilities 69,218 102,300
Provisions for liabilities (461) (579)
Net assets 68,757 101,721
Capital and reserves
Called up share capital 500 500
Revaluation reserve 6 31,250 61,250
Profit and loss account 37,007 39,971
Shareholders' funds 68,757 101,721
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lee Taylor
Director
Approved by the board on 20 June 2024
Shinevision Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Software over 10 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Software Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 331,099 29,135 360,234
Additions - 1,581 1,581
Surplus on revaluation (30,000) - (30,000)
At 31 March 2024 301,099 30,716 331,815
Depreciation
At 1 April 2023 187,601 26,983 214,584
Charge for the year 33,110 1,308 34,418
At 31 March 2024 220,711 28,291 249,002
Net book value
At 31 March 2024 80,388 2,425 82,813
At 31 March 2023 143,498 2,152 145,650
4 Debtors 2024 2023
£ £
Trade debtors 162,533 132,158
Other debtors 43,688 49,780
206,221 181,938
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 85,463 122,915
Trade creditors 124,105 73,116
Taxation and social security costs 48,001 47,885
257,569 243,916
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 61,250 61,250
Loss on revaluation of assets (30,000) -
At 31 March 2024 31,250 61,250
7 Other information
Shinevision Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Beaumont House
Redburn Road
Newcastle Upon Tyne
Tyne and Wear
NE5 1NB
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