REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Eleutheria + Vision Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Eleutheria + Vision Ltd. |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Eleutheria + Vision Ltd. |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Lichfield Street |
Burton-on-Trent |
Staffordshire |
DE14 3RD |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Balance Sheet - continued |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Non distributable reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Eleutheria + Vision Ltd. is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the depreciated replacement cost of each asset evenly over its expected useful life as follows: |
- Fixtures and fittings - 25% reducing balance |
Provision for the depreciation of freehold land and buildings in accordance with the Companies Act 2006 and with Financial Reporting Standard 102 is not considered to be necessary due to high residual values and the company's policy to maintain its land and property in good condition, therefore prolonging the useful life of the property. Any depreciation charge arising would be immaterial. In addition an annual impairment review is carried out by the director to support the validity of applying such an accounting policy. |
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. |
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. |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Debtors |
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss. |
Creditors |
Short term creditors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
Transfer investment property | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Investment property held for letting under operating leases had an open market value of £1,067,000 |
(2023: £373,000). |
The investment properties were valued by the director on 31 January 2024 (and 2023) using an open market basis. |
The comparable historic cost of the investment property at 31 January 2024 is £630,394 (2023: £193,830). |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2024 | 1,067,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Prepayments |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade creditors |
Other creditors |
Directors' current accounts | 91,495 | 78,192 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans more 5 yrs non-inst | 220,461 | 220,470 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans |
Bank loans and overdrafts are secured by a charge on one of the investment properties and by a personal guarantee given by the director, K Myers. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
B | £1 | 1 | 1 |
101 | 101 |
Eleutheria + Vision Ltd. (Registered number: 03909462) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | RESERVES |
Non |
Retained | distributable |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2023 | 499,992 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Transfer from retained |
earnings | - | 191,461 | 191,461 |
Transfer to non distributable |
reserve | (191,461 | ) | - | (191,461 | ) |
At 31 January 2024 | 680,362 |