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Registration number: 14008049

Rams Vision Ltd

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 November 2023

 

Rams Vision Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Rams Vision Ltd

(Registration number: 14008049)
Balance Sheet as at 30 November 2023

Note

2023
£

2023
£

Fixed assets

 

Intangible assets

4

149,442

-

Tangible assets

5

89,772

-

 

239,214

-

Current assets

 

Stocks

6

22,900

-

Debtors

7

13,277

-

Cash at bank and in hand

 

101,264

30,205

 

137,441

30,205

Creditors: Amounts falling due within one year

8

(180,399)

(10,000)

Net current (liabilities)/assets

 

(42,958)

20,205

Total assets less current liabilities

 

196,256

20,205

Creditors: Amounts falling due after more than one year

8

(263,082)

(20,000)

Net (liabilities)/assets

 

(66,826)

205

Capital and reserves

 

Called up share capital

205

205

Retained earnings

(67,031)

-

Shareholders' (deficit)/funds

 

(66,826)

205

 

Rams Vision Ltd

(Registration number: 14008049)
Balance Sheet as at 30 November 2023

For the financial period ending 30 November 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 period in question in accordance with section 476; and

The director acknowledges her 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 8 May 2024
 

.........................................
Mrs Sonia Talwar
Director

   
     
 

Rams Vision Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4 Mulberry Walk
302 Lichfield Road
Sutton Coldfield
West Midlands
B74 2UG
England

These financial statements were authorised for issue by the director on 8 May 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.

 

Rams Vision Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 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

20% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Fee

10% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4 (2023 - 2).

 

Rams Vision Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

186,178

186,178

At 30 November 2023

186,178

186,178

Amortisation

Amortisation charge

36,736

36,736

At 30 November 2023

36,736

36,736

Carrying amount

At 30 November 2023

149,442

149,442

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

112,025

112,025

At 30 November 2023

112,025

112,025

Depreciation

Charge for the period

22,253

22,253

At 30 November 2023

22,253

22,253

Carrying amount

At 30 November 2023

89,772

89,772

 

Rams Vision Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

6

Stocks

2023
£

2023
£

Finished goods and goods for resale

22,900

-

7

Debtors

2023
£

2023
£

Trade debtors

2,421

-

Other debtors

1,778

-

Prepayments

9,078

-

13,277

-

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2023
£

Due within one year

 

Loans and borrowings

9

32,000

-

Trade creditors

 

129,498

-

Accruals and deferred income

 

8,618

-

Other creditors

 

10,283

10,000

 

180,399

10,000

Creditors: amounts falling due after more than one year

Note

2023
£

2023
£

Due after one year

 

Loans and borrowings

9

263,082

20,000

 

Rams Vision Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

9

Loans and borrowings

2023
£

2023
£

Non-current loans and borrowings

Bank borrowings

202,627

-

Other borrowings

60,455

20,000

263,082

20,000

2023
£

2023
£

Current loans and borrowings

Bank borrowings

32,000

-