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Registered Number: 10819277
England and Wales

 

 

 

VISION REALTY MANAGEMENT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Vision Realty Management Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vision Realty Management Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance This report is made solely to the Board of Directors of Vision Realty Management Ltd, as a body, in accordance with the terms of our engagement letter.

Our work has been undertaken solely to prepare for your approval the accounts of Vision Realty Management Ltd and state those matters that we have agreed to state to the Board of Directors of Vision Realty Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vision Realty Management Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vision Realty Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vision Realty Management Ltd. You consider that Vision Realty Management Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Vision Realty Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the year ended 31 March 2024.







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

Chawton Hector

2 Maules Gardens
Bristol
Avon
BS34 8AN

22 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 370,000    370,000 
370,000    370,000 
Current assets      
Debtors: amounts falling due within one year 2,237    2,237 
Cash at bank and in hand 2,220    (1)
4,457    2,236 
Creditors: amount falling due within one year (77,638)   (79,004)
Net current assets (73,181)   (76,768)
 
Total assets less current liabilities 296,819    293,232 
Creditors: amount falling due after more than one year (266,600)   (266,600)
Net assets 30,219    26,632 
 

Capital and reserves
     
Called up share capital 4 100    100 
Reserves 5 45,951    45,951 
Profit and loss account (15,832)   (19,419)
Shareholders' funds 30,219    26,632 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 October 2024 and were signed on its behalf by:


-------------------------------
A Goodall
Director
2
General Information
Vision Realty Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 10819277, registration address Westgate House, Banbury Road, Moreton Pinkney, Northamptonshire, NN11 3SQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 50% Straight Line
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 370,000    400    370,400 
Additions    
Disposals    
At 31 March 2024 370,000    400    370,400 
Depreciation
At 01 April 2023   400    400 
Charge for year    
On disposals    
At 31 March 2024   400    400 
Net book values
Closing balance as at 31 March 2024 370,000      370,000 
Opening balance as at 01 April 2023 370,000      370,000 

Investment Properties
The last valuation was carried out in March 2023. In the directors' opinion the value of investment properties has not changed significantly, therefore no fair value adjustment has been made in the current period under review.

4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3