ANYVISION (U.K.) LIMITED
Director: A Golan
Registered Office: 6.12 Central House
1 Ballards Lane
N3 1LQ
Registered No: 11712037 (England & Wales)
Independent Auditors: Shahmoon & Co
Statutory Auditors
6.12 Central House
1 Ballards Lane
N3 1LQ
Annual report and financial statements
For the year ended 31 December 2023
page
Statement of financial position 1
Notes to the financial statements 2-8
ANYVISION (U.K.) LIMITED
Statement of financial position as at 31 December 2023
31.12.2023 31.12.2022
Notes £ £ £
Fixed assets 5 203,048 2,088
Current assets
Debtors 6 529,775 191,457
Cash at bank and in hand 376,538 433,113
906,313 624,570
Creditors: amounts falling due
within one year 7 (895,197) (465,631)
Net current assets 11,116 158,939
Total assets less current liabilities 214,164 161,027
Provisions for liabilities 8 (27,017) 0
Total assets £ 187,147 £ 161,027
Capital and Reserves
£ £
Called up share capital 9 1 1
Other reserves 8,143 4,485
Profit and loss account 179,003 156,541
Shareholders' funds £ 187,147 £ 161,027
-
The accounts have been prepared and delivered in accordance with 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.
____________________________
A Golan
Director
Approved by the Board
27 August 2024
Company number: 11712037
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
COMPANY INFORMATION
1. Company Information
Anyvision (U.K) Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 11712037. The address of its registered office is 6.12 Central House, 1 Ballards Lane, London, N3 1LQ.
The immediate and ultimate controlling party is Anyvision Interactive Technologies Ltd incorporated in Israel. The address of the registered office is 26 Harokmin, Holon, Israel.
2. Accounting Policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared on a going concern basis, under historical cost convention and in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.
2.2 Going concern
The company is profitable and will continue to be profitable in the future as according to the group TP's policy the company is entitled to a fixed margin on the services provided to the parent company and the company is primarily financed by its parent company. The company also has positive equity and positive net current assets. In the period after year end and up to the reporting date the company is profitable and has enough funds to cover its cash flow requirements and continues to be so in the period of the next 12 months.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.3 Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
2. Accounting Policies (continued)
2.4 Related par ty exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.
2.5 Turnover
Turnover represents net invoiced services, excluding VAT.
The company's turnover represents mainly amounts charged to the company's parent on an arm's length basis in line with a transfer pricing agreement, and therefore the company is reliant on its parent.
2.6 Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable for services
rendered during the year.
Revenue is calculated on an arm's length basis, charged to the parent company.
Revenue is recognised at the earliest time: Either when the invoice is raised or by the end of the year.
2.7 Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2.8 Government grants
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2.9 Debtors
Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment.
2.10 Tangible fixed assets
Fixed assets are disclosed at cost less impairment charge.
Depreciation is provided at the following annual rates in order to write off the assets over their estimated useful lives:
Leasehold improvement - 10% straight line
Electronic equipment - 25% straight line
Fixtures and fittings - 6% straight line
Computer and software - 33.33% straight line
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
2. Accounting Policies (continued)
2.11 Creditors
Basic financial liabilities including trade and other payable are measured at transaction price.
2.12 Current & deferred taxation
Deferred taxation is provided using the liability method to take into account timing differences arising from the inclusion of items of expenditure in taxation computations in periods that differ from those in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income.
2.13 Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into Sterling at the rate 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 the transaction.
2.14 Operating leases
Rental paid under operating leases is charged to profit and loss on a straight line basis over the lease term.
2.15 Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is received.
(ii) Defined contribution pension plans
The company operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
2. Accounting Policies (continued)
instruments that will ultimately vest. The expense or credit in the statement of profit or loss and
other comprehensive income for a period represents the movement in cumulative expense
recognised as at the beginning and end of that period.
(iii) Bonus plan
The company operates annual bonus plan for employees and expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payment under the plan as a result of passed events and reliable estimation of the obligation can be made.
(iv) Share based payments
Employees of the Company receive remuneration in the form of share-based payments,
whereby employees render services as consideration for equity instruments in the parent
undertaking, Anyvision Interactive Technologies Ltd (equity-settled transactions). The cost
of equity-settled transactions is determined by the fair value at the date when the grant is made
using an appropriate valuation model.
That cost is recognised in employee benefits expense, together with a corresponding increase in
equity (other reserves), over a period in which the service and, where applicable, the
performance conditions are fulfilled (the vesting period). The cumulative expense recognised for
equity-settled transactions at each reporting date until the vesting date reflects the extent to
which the vesting period has expired and the Company's best estimate of the number of equity
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
3. Employee information
2023 2022
The average number of employees during the year was 3 8
4. Directors emoluments
No remunerations were paid to any of the directors during the year.
5. Fixed assets Electronic
Leasehold & Computer
Equipment equipment Furniture Total
£ £ £ £
Cost:
At 1 January 2023 - 79,517 - 79,517
Additions 52,085 130,450 20,503 203,038
At 31 December 2023 52,085 209,967 20,503 282,555
Depreciation:
At 1 January 2023 - 77,429 - 77,429
Charge for the year - 2,078 - 2,078
At 31 December 2023 - 79,507 - 79,507
Net book value:
At 31 December 2023 52,085 130,460 20,503 203,048
At 31 December 2022 - 2,088 - 2,088
6. Debtors
31.12.2023 31.12.2022
£ £
Trade debtors 220,131 53,164
Amounts owed by group undertaking 70,561 18,043
Corporation Tax 161,893 88,016
VAT 43,554 -
Other debtors and prepayments 33,636 32,234
529,775 191,457
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
7. Creditors: amounts falling due within one year
31.12.2023 31.12.2022
£ £
Trade creditors 32,362 3,023
Parent company 219,092 382,260
Other tax and social security 8,080 50,752
Other creditors and accruals 635,663 29,596
895,197 465,631
8. Deferred taxation
31.12.2023 31.12.2022
£ £
As at 1.1.23 - 6,804
Charged to profit or loss 27,017 (6,804)
As at 31.12.23 27,017 -
The provision for deferred taxation is made up as follows:
31.12.2023 31.12.2022
£ £
Accelerated capital allowances 27,017 -
9. Share capital
31.12.2023 31.12.2022
£ £
Allotted, called up and fully paid:
1 Ordinary shares of £1 each 1 1
ANYVISION (U.K.) LIMITED
Notes to the financial statements for - 31 December 2023
10. Audit report information
As the income statement has been omitted from the filing of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444 (5B) of the Companies Act 2006. The auditor's report was unqualified.
The senior statutory auditor was Mr. Ran Shahmoon
The auditor was Shahmoon & Co.
Date auditor signed accounts: 27 August 2024
Name of director signing accounts: A. Golan
Date director signed accounts: 27 August 2024
11. Related party transactions
Control:
The ultimate controlling party is Anyvision Interactive Technologies Ltd incorporated in Israel. The address of the registered office is 26 Harokmin, Holon, Israel.
The only group of undertakings for which consolidated financial statements are prepared which include Anyvision (U.K.) Limited are those of Anyvision Interactive Technologies Ltd a company incorporated in Israel.
Transaction:
The company is exempt from disclosing transactions with related parties that are wholly
owned within the same group in accordance with FRS 102 Section 33(1)A.
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