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Company Registration No. 10203127 (England and Wales)
ONE VISION LABORATORY LIMITED Unaudited accounts for the year ended 31 January 2024
ONE VISION LABORATORY LIMITED Unaudited accounts Contents
Page
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ONE VISION LABORATORY LIMITED Company Information for the year ended 31 January 2024
Directors
Rebecca Louise Heron Liam Martin Mcgee
Company Number
10203127 (England and Wales)
Registered Office
5 SHADWELL WALK LEEDS WEST YORKSHIRE LS17 6EQ UNITED KINGDOM
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
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ONE VISION LABORATORY LIMITED Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
47,046 
28,702 
Current assets
Inventories
64,842 
9,000 
Debtors
283,965 
303,216 
Cash at bank and in hand
131 
13,224 
348,938 
325,440 
Creditors: amounts falling due within one year
(178,213)
(224,755)
Net current assets
170,725 
100,685 
Total assets less current liabilities
217,771 
129,387 
Creditors: amounts falling due after more than one year
(14,053)
(15,510)
Provisions for liabilities
Deferred tax
(9,386)
(5,453)
Net assets
194,332 
108,424 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
193,332 
107,424 
Shareholders' funds
194,332 
108,424 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by
Rebecca Louise Heron Director Company Registration No. 10203127
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ONE VISION LABORATORY LIMITED Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
ONE VISION LABORATORY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10203127. The registered office is 5 SHADWELL WALK, LEEDS, WEST YORKSHIRE, LS17 6EQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
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ONE VISION LABORATORY LIMITED Notes to the Accounts for the year ended 31 January 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
60,480 
624 
61,104 
Additions
28,171 
2,015 
30,186 
At 31 January 2024
88,651 
2,639 
91,290 
Depreciation
At 1 February 2023
32,196 
206 
32,402 
Charge for the year
11,483 
359 
11,842 
At 31 January 2024
43,679 
565 
44,244 
Net book value
At 31 January 2024
44,972 
2,074 
47,046 
At 31 January 2023
28,284 
418 
28,702 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
170,214 
185,207 
Amounts due from group undertakings etc.
113,751 
118,009 
283,965 
303,216 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,255 
44,878 
Obligations under finance leases and hire purchase contracts
13,858 
9,808 
Trade creditors
29,348 
71,007 
Amounts owed to group undertakings and other participating interests
97,704 
87,120 
Taxes and social security
25,462 
10,488 
Other creditors
- 
1,454 
Loans from directors
5,586 
- 
178,213 
224,755 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
14,053 
15,510 
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ONE VISION LABORATORY LIMITED Notes to the Accounts for the year ended 31 January 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary A shares of £1 each
1,000 
1,000 
9
Transactions with related parties
At the balance sheet date £113,752 (2023 - £118,009) was owed by a connected companies and £97,704 (2023 - £87,120) was owed to connected companies. During the year £14,400 (2023: £14,400) was paid in rent to a connected company.
10
Controlling party
One Vision Laboratory Limited is a wholly owned subsidiary of One Vision Holdings Limited, a company registered in England and Wales. The registered office of the Holding Company is 5 Shadwell Walk, Leeds, West Yorkshire, United Kingdom, LS17 6EQ.
11
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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