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REGISTERED NUMBER: 06644021 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MIDVISION LIMITED

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDVISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Dr R M Bettison
Mr D Sayers





SECRETARY: Mrs S K Bettison





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 06644021 (England and Wales)





ACCOUNTANTS: MGR SD Limited
55 Loudoun Road
London
NW8 0DL

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 64,607 80,733
Investments 5 1,800,529 297,835
1,865,136 378,568

CURRENT ASSETS
Debtors 6 692,803 803,235
Cash at bank 2,520,283 2,898,422
3,213,086 3,701,657
CREDITORS
Amounts falling due within one year 7 (414,346 ) (436,495 )
NET CURRENT ASSETS 2,798,740 3,265,162
TOTAL ASSETS LESS CURRENT LIABILITIES 4,663,876 3,643,730

PROVISIONS FOR LIABILITIES 8 (16,201 ) (15,339 )
NET ASSETS 4,647,675 3,628,391

CAPITAL AND RESERVES
Called up share capital 9 10,272 10,272
Capital redemption reserve 1,679 1,679
Retained earnings 4,635,724 3,616,440
SHAREHOLDERS' FUNDS 4,647,675 3,628,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




Dr R M Bettison - Director



Mr D Sayers - Director


MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Midvision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sale of goods, services, licences and support, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates 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 transaction. Exchange differences are taken into account in arriving at the operating result.

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are shown at fair value at the year end.

Group financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 186,340 17,697 204,037
Additions - 4,273 4,273
At 31 December 2023 186,340 21,970 208,310
DEPRECIATION
At 1 January 2023 107,728 15,576 123,304
Charge for year 19,653 746 20,399
At 31 December 2023 127,381 16,322 143,703
NET BOOK VALUE
At 31 December 2023 58,959 5,648 64,607
At 31 December 2022 78,612 2,121 80,733

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 January 2023 297,835
Additions 1,530,304
Disposals (69,496 )
Revaluations 41,886
At 31 December 2023 1,800,529
NET BOOK VALUE
At 31 December 2023 1,800,529
At 31 December 2022 297,835

Cost or valuation at 31 December 2023 is represented by:

Listed
investments
£   
Valuation in 2022 (16,621 )
Valuation in 2023 41,887
Cost 1,775,263
1,800,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 642,285 753,711
Other debtors 50,518 49,524
692,803 803,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 119,533 60,132
Taxation and social security 252,133 262,239
Other creditors 42,680 114,124
414,346 436,495

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 16,201 15,339

MIDVISION LIMITED (REGISTERED NUMBER: 06644021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 15,339
Charge to Income Statement during year 862
Balance at 31 December 2023 16,201

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
5,137 Ordinary-A £1 5,137 5,137
5,135 Ordinary-B £1 5,135 5,135
10,272 10,272

10. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the directors and employees. Amounts charged to the profit and loss account were £206,450 (2022: £122,100). There were outstanding employer contributions of £Nil (2022: £10,175) at the balance sheet date.