Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse2true2022-12-08false0true 14530097 2022-12-07 14530097 2023-12-31 14530097 c:Director1 2022-12-08 2023-12-31 14530097 2022-12-08 2023-12-31 14530097 2021-12-08 2022-12-07 14530097 c:Director2 2022-12-08 2023-12-31 14530097 d:CurrentFinancialInstruments 2023-12-31 14530097 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14530097 d:ShareCapital 2023-12-31 14530097 d:RetainedEarningsAccumulatedLosses 2023-12-31 14530097 c:FRS102 2022-12-08 2023-12-31 14530097 c:AuditExempt-NoAccountantsReport 2022-12-08 2023-12-31 14530097 c:FullAccounts 2022-12-08 2023-12-31 14530097 c:PrivateLimitedCompanyLtd 2022-12-08 2023-12-31 14530097 e:PoundSterling 2022-12-08 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 14530097











PRIVILEGE VISION LTD
Unaudited
Financial statements
Information for filing with the registrar
For the Period Ended 31 December 2023

















Coveney Nicholls Limited
Chartered Accountants
The Old Wheel House
31/37 Church Street
Reigate
Surrey
UK
RH2 0AD

 
PRIVILEGE VISION LTD
Registered number:14530097

Statement of Financial Position
As at 31 December 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
  
90,363

Current asset investments
 5 
107,044

Cash at bank and in hand
  
177,904

  
375,311

Creditors: amounts falling due within one year
  
(128,362)

Net current assets
  
 
 
246,949

Total assets less current liabilities
  
246,949

  

Net assets
  
246,949


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
246,849

  
246,949


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2024.




Dr Robert Petrarca
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
PRIVILEGE VISION LTD
Registered number:14530097
    
Statement of Financial Position (continued)
As at 31 December 2023


Page 2

 
PRIVILEGE VISION LTD
 
 
Notes to the Financial Statements

For the Period Ended 31 December 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheelhouse, 31- 37 Church Street, Reigate, Surrey, RH2 0AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates 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 in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PRIVILEGE VISION LTD
 
 
Notes to the Financial Statements

For the Period Ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2023
£


Trade debtors
90,363

90,363


Page 4

 
PRIVILEGE VISION LTD
 
 
Notes to the Financial Statements

For the Period Ended 31 December 2023

5.


Current asset investments

2023
£

Listed investments
107,044

107,044



6.


Creditors: Amounts falling due within one year

2023
£

Corporation tax
121,363

Other creditors
5,289

Accruals and deferred income
1,710

128,362



7.
Director's advances, credits and guarantees


2023

Balance brought forward 
Advances/(credits) to the directors
Amounts repaid
Balance outstanding

£
£
£
£

Dr Robert Petrarca
-
128,820
(134,079)
(5,259)

Mrs Caroline Petrarca
-
44,020
(44,050)
(30)

 
Page 5