Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12610568 Mr Russell Johnston iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12610568 2023-05-31 12610568 2024-05-31 12610568 2023-06-01 2024-05-31 12610568 frs-core:CurrentFinancialInstruments 2024-05-31 12610568 frs-core:Non-currentFinancialInstruments 2024-05-31 12610568 frs-core:BetweenOneFiveYears 2024-05-31 12610568 frs-core:ComputerEquipment 2024-05-31 12610568 frs-core:ComputerEquipment 2023-06-01 2024-05-31 12610568 frs-core:ComputerEquipment 2023-05-31 12610568 frs-core:MotorVehicles 2024-05-31 12610568 frs-core:MotorVehicles 2023-06-01 2024-05-31 12610568 frs-core:MotorVehicles 2023-05-31 12610568 frs-core:PlantMachinery 2024-05-31 12610568 frs-core:PlantMachinery 2023-06-01 2024-05-31 12610568 frs-core:PlantMachinery 2023-05-31 12610568 frs-core:WithinOneYear 2024-05-31 12610568 frs-core:ShareCapital 2024-05-31 12610568 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12610568 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12610568 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12610568 frs-bus:SmallEntities 2023-06-01 2024-05-31 12610568 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12610568 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12610568 frs-bus:OrdinaryShareClass1 2023-06-01 2024-05-31 12610568 frs-bus:OrdinaryShareClass1 2024-05-31 12610568 frs-bus:Director1 2023-06-01 2024-05-31 12610568 frs-countries:EnglandWales 2023-06-01 2024-05-31 12610568 2022-05-31 12610568 2023-05-31 12610568 2022-06-01 2023-05-31 12610568 frs-core:CurrentFinancialInstruments 2023-05-31 12610568 frs-core:Non-currentFinancialInstruments 2023-05-31 12610568 frs-core:BetweenOneFiveYears 2023-05-31 12610568 frs-core:WithinOneYear 2023-05-31 12610568 frs-core:ShareCapital 2023-05-31 12610568 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 12610568 frs-bus:OrdinaryShareClass1 2022-06-01 2023-05-31
Registered number: 12610568
Vision Groundworks And Civil Engineering Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12610568
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 239,789 186,037
239,789 186,037
CURRENT ASSETS
Stocks 5 28,734 64,535
Debtors 6 388,750 588,634
Cash at bank and in hand 30,590 135,738
448,074 788,907
Creditors: Amounts Falling Due Within One Year 7 (347,039 ) (709,760 )
NET CURRENT ASSETS (LIABILITIES) 101,035 79,147
TOTAL ASSETS LESS CURRENT LIABILITIES 340,824 265,184
Creditors: Amounts Falling Due After More Than One Year 8 (149,644 ) (120,535 )
NET ASSETS 191,180 144,649
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 191,080 144,549
SHAREHOLDERS' FUNDS 191,180 144,649
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Russell Johnston
Director
10/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vision Groundworks And Civil Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12610568 . The registered office is 82 Southwark Bridge Road, London, SE1 0AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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 assets reflect 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 146,851 109,809 2,254 258,914
Additions 131,844 - 1,837 133,681
As at 31 May 2024 278,695 109,809 4,091 392,595
Depreciation
As at 1 June 2023 55,766 16,363 748 72,877
Provided during the period 55,732 23,361 836 79,929
As at 31 May 2024 111,498 39,724 1,584 152,806
Net Book Value
As at 31 May 2024 167,197 70,085 2,507 239,789
As at 1 June 2023 91,085 93,446 1,506 186,037
5. Stocks
2024 2023
£ £
Materials 28,734 64,535
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 119,401 364,526
Prepayments and accrued income 227,449 173,324
VAT 41,880 50,784
Other taxes and social security 20 -
388,750 588,634
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 72,834 37,826
Trade creditors 115,880 413,363
Bank loans and overdrafts 77,321 159,107
Corporation tax 27,028 39,532
Other taxes and social security - 11,513
Other creditors 53,962 48,401
Director's loan account 14 18
347,039 709,760
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 149,644 120,535
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 72,834 37,826
Later than one year and not later than five years 149,644 120,535
222,478 158,361
222,478 158,361
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
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