Company Registration No. 02683264 (England and Wales)
Classic Video Services International Limited
Unaudited accounts
for the year ended 31 March 2024
Classic Video Services International Limited
Unaudited accounts
Contents
Classic Video Services International Limited
Company Information
for the year ended 31 March 2024
Company Number
02683264 (England and Wales)
Registered Office
20 TALLON ROAD
HUTTON
BRENTWOOD
CM13 1TJ
ENGLAND
Accountants
Wednesday Professional Services Ltd
39a High Street
Billericay
Essex
CM12 9BA
Classic Video Services International Limited
Statement of financial position
as at 31 March 2024
Tangible assets
374,749
295,613
Cash at bank and in hand
1,132,407
648,136
Creditors: amounts falling due within one year
(343,889)
(214,391)
Net current assets
1,111,245
748,038
Net assets
1,485,994
1,043,651
Called up share capital
1,100
1,100
Profit and loss account
1,484,894
1,042,551
Shareholders' funds
1,485,994
1,043,651
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2024 and were signed on its behalf by
C Berry
Director
Company Registration No. 02683264
Classic Video Services International Limited
Notes to the Accounts
for the year ended 31 March 2024
Classic Video Services International Limited is a private company, limited by shares, registered in England and Wales, registration number 02683264. The registered office is 20 TALLON ROAD, HUTTON, BRENTWOOD, CM13 1TJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The accounts are presented in £ sterling.
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.
Goodwill, being the amount paid in connection with the acquisition of a business has been depreciated over its estimated useful life.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Classic Video Services International Limited
Notes to the Accounts
for the year ended 31 March 2024
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 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 differences.
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.
Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Classic Video Services International Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,067,865
101,228
40,850
1,209,943
Additions
208,191
-
1,061
209,252
Disposals
(161,831)
-
-
(161,831)
At 31 March 2024
1,114,225
101,228
41,911
1,257,364
At 1 April 2023
807,052
70,657
36,621
914,330
Charge for the year
113,874
7,640
1,010
122,524
On disposals
(154,239)
-
-
(154,239)
At 31 March 2024
766,687
78,297
37,631
882,615
At 31 March 2024
347,538
22,931
4,280
374,749
At 31 March 2023
260,813
30,571
4,229
295,613
Amounts falling due within one year
Trade debtors
320,824
310,251
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
240
Trade creditors
75,645
42,868
Taxes and social security
213,141
78,035
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Transactions with related parties
Dividends of £67,386 (2022 - £47,800) were paid to City Corporate Limited and £28,014 (£19,200) to director Mr R Ross.
The Ultimate Controlling Party is Mr. C Berry by virtue of his 100% share holding in City Corporate Limited who at 31st March 2017 held 84% of the voting shares in Classic Video Service International Limited.
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Average number of employees
During the year the average number of employees was 9 (2023: 9).