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Registration number: 05211678

Viewtouch Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Viewtouch Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Viewtouch Limited

Company Information

Director

Mr Stephen Foley

Registered office

2 Cheapside
Derby
Derbyshire
DE1 1BR

Accountants

The TAX Partnership
2 Cheapside
Derby
Derbyshire
DE1 1BR

 

Viewtouch Limited

(Registration number: 05211678)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

265

353

Current assets

 

Stocks

3,300

4,400

Debtors

5

43,477

13,803

Cash at bank and in hand

 

3,514

13,364

 

50,291

31,567

Creditors: Amounts falling due within one year

6

(13,772)

(5,122)

Net current assets

 

36,519

26,445

Net assets

 

36,784

26,798

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

36,782

26,796

Shareholders' funds

 

36,784

26,798

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.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
Mr Stephen Foley
Director

 

Viewtouch 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:
2 Cheapside
Derby
Derbyshire
DE1 1BR
England

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Viewtouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Office equipment

25% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Viewtouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

15,573

15,573

At 31 December 2023

15,573

15,573

Depreciation

At 1 January 2023

15,220

15,220

Charge for the year

88

88

At 31 December 2023

15,308

15,308

Carrying amount

At 31 December 2023

265

265

At 31 December 2022

353

353

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

6,164

9,991

Amounts owed by related parties

8

37,066

3,812

Other debtors

 

247

-

   

43,477

13,803

 

Viewtouch 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

Trade creditors

436

543

Taxation and social security

4,824

3,572

Accruals and deferred income

8,350

845

Other creditors

162

162

13,772

5,122

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Related party transactions

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

3,813

3,813

Advanced

33,253

33,253

At end of period

37,066

37,066

2022

Other related parties
£

Total
£

At start of period

5,586

5,586

Repaid

(1,773)

(1,773)

At end of period

3,813

3,813