Vissi Limited 04691240 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Wholesale of Clothing and Footwear Digita Accounts Production Advanced 6.30.9574.0 true 04691240 2023-04-01 2024-03-31 04691240 2024-03-31 04691240 core:RetainedEarningsAccumulatedLosses 2024-03-31 04691240 core:ShareCapital 2024-03-31 04691240 core:CurrentFinancialInstruments 2024-03-31 04691240 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04691240 core:FurnitureFittingsToolsEquipment 2024-03-31 04691240 bus:SmallEntities 2023-04-01 2024-03-31 04691240 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04691240 bus:AbridgedAccounts 2023-04-01 2024-03-31 04691240 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04691240 bus:RegisteredOffice 2023-04-01 2024-03-31 04691240 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 04691240 bus:Director2 2023-04-01 2024-03-31 04691240 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04691240 bus:Agent1 2023-04-01 2024-03-31 04691240 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04691240 countries:England 2023-04-01 2024-03-31 04691240 2023-03-31 04691240 core:FurnitureFittingsToolsEquipment 2023-03-31 04691240 2022-04-01 2023-03-31 04691240 2023-03-31 04691240 core:RetainedEarningsAccumulatedLosses 2023-03-31 04691240 core:ShareCapital 2023-03-31 04691240 core:CurrentFinancialInstruments 2023-03-31 04691240 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04691240 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04691240

Vissi Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Vissi Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Vissi Limited

Company Information

Directors

Mrs Daksha Thakrar

Mr Vinodrai Thakrar

Company secretary

Mrs Daksha Thakrar

Registered office

C/o Gross Klein 5 St. John's Lane
London
EC1M 4BH

Accountants

Gross Klein
5 St. John's Lane
London
EC1M 4BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Vissi Limited
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 Vissi Limited for the year ended 31 March 2024 as set out on pages 3 to 7 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Vissi Limited, as a body, in accordance with the terms of our engagement letter dated 5 June 2020. Our work has been undertaken solely to prepare for your approval the accounts of Vissi Limited and state those matters that we have agreed to state to the Board of Directors of Vissi Limited, 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 Vissi Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vissi Limited 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 Vissi Limited. You consider that Vissi Limited 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 Vissi Limited. 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.

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

Gross Klein
5 St. John's Lane
London
EC1M 4BH

30 October 2024

 

Vissi Limited

(Registration number: 04691240)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,781

3,708

Current assets

 

Stocks

6

4,941

6,181

Debtors

7

88,658

74,749

Cash at bank and in hand

 

699,025

591,697

 

792,624

672,627

Prepayments and accrued income

 

1,968

1,920

Creditors: Amounts falling due within one year

(252,343)

(236,372)

Net current assets

 

542,249

438,175

Total assets less current liabilities

 

545,030

441,883

Provisions for liabilities

(695)

-

Accruals and deferred income

 

(14,440)

(15,053)

Net assets

 

529,895

426,830

Capital and reserves

 

Called up share capital

150,000

150,000

Retained earnings

379,895

276,830

Shareholders' funds

 

529,895

426,830

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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

 

Vissi Limited

(Registration number: 04691240)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mr Vinodrai Thakrar
Director

 

Vissi Limited

Notes to the Unaudited Abridged 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.

The address of its registered office is:
C/o Gross Klein 5 St. John's Lane
London
EC1M 4BH

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 abridged 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 abridged 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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Vissi Limited

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

tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

927

1,236

 

Vissi Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

18,342

18,342

At 31 March 2024

18,342

18,342

Depreciation

At 1 April 2023

14,634

14,634

Charge for the year

927

927

At 31 March 2024

15,561

15,561

Carrying amount

At 31 March 2024

2,781

2,781

At 31 March 2023

3,708

3,708

6

Stocks

2024
£

2023
£

Other inventories

4,941

6,181

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.