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Registration number: 09971792

Enhanced Vision Limited

Interim Accounts

for the Year Ended 31 March 2024

 

Enhanced Vision Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Enhanced Vision Limited

Company Information

Directors

Mr M Tyson

Mrs H M Tyson

Registered office

Brookfield Court
Selby Road
Garforth, Leeds
LS25 1NB

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

Enhanced Vision Limited

(Registration number: 09971792)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,245,000

1,152,120

Current assets

 

Cash at bank and in hand

 

1,236

3,509

Creditors: Amounts falling due within one year

(414,014)

(425,014)

Net current liabilities

 

(412,778)

(421,505)

Total assets less current liabilities

 

832,222

730,615

Creditors: Amounts falling due after more than one year

(727,735)

(727,735)

Provisions for liabilities

(61,205)

(43,558)

Net assets/(liabilities)

 

43,282

(40,678)

Capital and reserves

 

Called up share capital

5

10

10

Revaluation reserve

322,130

229,250

Retained earnings

(278,858)

(269,938)

Shareholders' funds/(deficit)

 

43,282

(40,678)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Enhanced Vision Limited

(Registration number: 09971792)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................

Mr M Tyson
Director

 

Enhanced Vision Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
Brookfield Court
Selby Road
Garforth, Leeds
LS25 1NB

These financial statements were authorised for issue by the Board on 23 September 2024.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Enhanced Vision Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are
recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Borrowings

 

Enhanced Vision Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

1,152,120

1,152,120

Revaluations

92,880

92,880

At 31 March 2024

1,245,000

1,245,000

Depreciation

Carrying amount

At 31 March 2024

1,245,000

1,245,000

At 31 March 2023

1,152,120

1,152,120

Included within the net book value of land and buildings above is £1,245,000 (2023 - £1,152,120) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

 

Enhanced Vision Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

6

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

322,130

322,130

The changes to each component of equity resulting from items of other comprehensive income for the prior period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

229,250

229,250

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

727,735

727,735