Registered number
04227664
Video Receiving Centre Limited
Filleted Accounts
30 November 2023
Video Receiving Centre Limited
Registered number: 04227664
Balance Sheet
as at 30 November 2023
Restated
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 200,695 231,127
Tangible assets 5 115,839 158,892
316,534 390,019
Current assets
Debtors 6 463,066 317,146
Cash at bank and in hand 30,114 61,998
493,180 379,144
Creditors: amounts falling due within one year 5 (245,368) (335,575)
Net current assets 247,812 43,569
Total assets less current liabilities 564,346 433,588
Creditors: amounts falling due after more than one year 8 (39,159) (95,453)
Deferred income 9 (224,064) (216,639)
Net assets 301,123 121,496
Capital and reserves
Called up share capital 100 100
Profit and loss account 301,023 121,396
Shareholders' funds 301,123 121,496
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.
N K Jackson
Director
Approved by the board on 23 August 2024
Video Receiving Centre Limited
Notes to the Accounts
for the year ended 30 November 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 25% on reducing balance and 15% on cost
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 29
3 Taxation
2023 2022
£ £
Analysis of change in period
Current tax
UK corporation tax on profits for the period 53,948 -
Group relief (53,948) -
Tax on profit on ordinary activities - -
4 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 and 30 November 2023 338,860
Amortisation
At 1 December 2022 107,733
Provided during the year 30,432
At 30 November 2023 138,165
Net book value
At 30 November 2023 200,695
At 30 November 2022 231,127
5 Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 December 2022 237,144
Additions 5,810
At 30 November 2023 242,954
Depreciation
At 1 December 2022 78,252
Charge for the year 48,863
At 30 November 2023 127,115
Net book value
At 30 November 2023 115,839
At 30 November 2022 158,892
6 Debtors 2023 2022
£ £
Trade debtors 311,355 194,680
Amounts owed by group undertakings 142,576 100,493
Prepayments 7,819 16,304
Other debtors 1,316 5,669
463,066 317,146
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 49,778 49,778
Obligations under finance lease and hire purchase contracts 6,516 6,516
Trade creditors 74,675 158,520
Amounts owed to group undertakings - 29,750
Other taxation and social security costs 94,522 43,048
Accruals 18,487 46,227
Other creditors 1,390 1,736
245,368 335,575
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,185 82,963
Obligations under finance lease and hire purchase contracts 5,974 12,490
39,159 95,453
9 Deferred income
£
At 1 December 2022 (previously stated) 126,504
Restatement of Deferred Income 90,135
At 1 December 2022 (restated) 216,639
Additional provisions during the year 7,425
At 30 November 2023 224,064
Deferred income has been restated at 30 November 2022 to be calculated on a consistent basis with 30 November 2023.
10 Controlling party
The ultimate Controlling Party is N K Jackson
The company is a wholly owned subsidiary of ARM Secure Holdings Limited. A Company incorporated in England & Wales with the same registered address
11 Other information
Video Receiving Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, 720 Mandarin Court
Centre Park
Warrington
WA1 1GG
Video Receiving Centre Limited 04227664 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 N K Jackson No description of principal activity 04227664 2021-12-01 2022-11-30 04227664 core:WithinOneYear 2022-11-30 04227664 core:AfterOneYear 2022-11-30 04227664 core:ShareCapital 2022-11-30 04227664 core:RetainedEarningsAccumulatedLosses 2022-11-30 04227664 2022-12-01 2023-11-30 04227664 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04227664 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04227664 bus:Director40 2022-12-01 2023-11-30 04227664 1 2022-12-01 2023-11-30 04227664 2 2022-12-01 2023-11-30 04227664 core:Goodwill 2022-12-01 2023-11-30 04227664 core:PlantMachinery 2022-12-01 2023-11-30 04227664 countries:England 2022-12-01 2023-11-30 04227664 bus:FRS102 2022-12-01 2023-11-30 04227664 bus:FilletedAccounts 2022-12-01 2023-11-30 04227664 2023-11-30 04227664 core:WithinOneYear 2023-11-30 04227664 core:AfterOneYear 2023-11-30 04227664 core:ShareCapital 2023-11-30 04227664 core:RetainedEarningsAccumulatedLosses 2023-11-30 04227664 core:Goodwill 2023-11-30 04227664 core:PlantMachinery 2023-11-30 04227664 2022-11-30 04227664 core:Goodwill 2022-11-30 04227664 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure