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REGISTERED NUMBER: 10621798 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Vision Upholstery Limited

Vision Upholstery Limited (Registered number: 10621798)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vision Upholstery Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: M P Harrison
Mrs S Harrison



REGISTERED OFFICE: Kentish Farm
Delvin End
Silble Hedingham
HALSTEAD
Essex
CO9 3LN



REGISTERED NUMBER: 10621798 (England and Wales)



ACCOUNTANTS: Simpson Accountancy Limited
Unit 6 Cherrytree Farm
Blackmore End Road
Sible Hedingham
Essex
CO9 3LZ



BANKERS: Lloyds

Vision Upholstery Limited (Registered number: 10621798)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 73,119 9,279
73,119 9,279

CURRENT ASSETS
Stocks 2,100 2,000
Debtors 6 45,787 5,541
Cash at bank 36,991 57,342
84,878 64,883
CREDITORS
Amounts falling due within one year 7 113,107 31,494
NET CURRENT (LIABILITIES)/ASSETS (28,229 ) 33,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,890

42,668

CREDITORS
Amounts falling due after more than one
year

8

-

(40,278

)

PROVISIONS FOR LIABILITIES (12,388 ) (1,550 )
NET ASSETS 32,502 840

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 32,500 838
SHAREHOLDERS' FUNDS 32,502 840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Vision Upholstery Limited (Registered number: 10621798)

Balance Sheet - continued
29 February 2024


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 7 July 2024 and were signed on its behalf by:





M P Harrison - Director


Vision Upholstery Limited (Registered number: 10621798)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Vision Upholstery 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
During the 2018 year-end a customer list was aquired for £1,350, this is being amotised over a period of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Vision Upholstery Limited (Registered number: 10621798)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 1,350
AMORTISATION
At 1 March 2023
and 29 February 2024 1,350
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 33,997
Additions 84,518
At 29 February 2024 118,515
DEPRECIATION
At 1 March 2023 24,718
Charge for year 20,678
At 29 February 2024 45,396
NET BOOK VALUE
At 29 February 2024 73,119
At 28 February 2023 9,279

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,914 147
Other debtors 873 5,394
45,787 5,541

Vision Upholstery Limited (Registered number: 10621798)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,722 -
Trade creditors 54,064 12,695
Taxation and social security 20,480 9,903
Other creditors 3,841 8,896
113,107 31,494

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 40,278

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 40,278

9. RESERVES
Retained
earnings
£   

At 1 March 2023 838
Profit for the year 91,662
Dividends (60,000 )
At 29 February 2024 32,500

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 were paid to the directors .

Interest of £520 was charged to the directors on their overdrawn accounts through the year.