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Registration number: 06474908

RVS Videovision Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 December 2023

 

RVS Videovision Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

RVS Videovision Limited

(Registration number: 06474908)
Statement of Financial Position
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

64,082

52,671

Current assets

 

Debtors

5

18,404

17,787

Cash at bank and in hand

 

115,801

111,333

 

134,205

129,120

Creditors: Amounts falling due within one year

6

(29,031)

(22,949)

Net current assets

 

105,174

106,171

Total assets less current liabilities

 

169,256

158,842

Creditors: Amounts falling due after more than one year

6

(54,400)

(77,906)

Provisions for liabilities

(12,176)

(11,201)

Net assets

 

102,680

69,735

Capital and reserves

 

Called up share capital

2

2

Retained earnings

102,678

69,733

Shareholders' funds

 

102,680

69,735

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

 

RVS Videovision Limited

(Registration number: 06474908)
Statement of Financial Position
31 December 2023

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 March 2024 and signed on its behalf by:
 

.........................................
S A V Leggett
Director

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

1

General information

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

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
United Kingdom

The principal place of business is:
50 St Lawrence Avenue
Worthing
West Sussex
BN14 7JG

These financial statements were authorised for issue by the Board on 15 March 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.

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

2

Accounting policies (continued)

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Plant and machinery

Over 4 years

Motor vehicles

Over 4 years

Fixtures and fittings

15% reducing balance

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,012

41,081

197,591

239,684

Additions

663

27,321

17,308

45,292

Disposals

-

(12,999)

-

(12,999)

At 31 December 2023

1,675

55,403

214,899

271,977

Depreciation

At 1 January 2023

192

34,497

152,324

187,013

Charge for the year

151

11,080

22,649

33,880

Eliminated on disposal

-

(12,998)

-

(12,998)

At 31 December 2023

343

32,579

174,973

207,895

Carrying amount

At 31 December 2023

1,332

22,824

39,926

64,082

At 31 December 2022

820

6,584

45,267

52,671

5

Debtors

Current

2023
£

2022
£

Trade debtors

17,721

17,787

Prepayments

683

-

 

18,404

17,787

 

RVS Videovision Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

21,616

16,454

Accruals and deferred income

1,220

1,145

Other creditors

6,195

5,350

29,031

22,949

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

-

11,506

Other non-current financial liabilities

 

54,400

66,400

 

54,400

77,906

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

11,506