Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07372615 Mr Ravikiran Shivaraj Mrs Shilpa Bogale iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07372615 2023-02-28 07372615 2024-02-29 07372615 2023-03-01 2024-02-29 07372615 frs-core:CurrentFinancialInstruments 2024-02-29 07372615 frs-core:Non-currentFinancialInstruments 2024-02-29 07372615 frs-core:ComputerEquipment 2024-02-29 07372615 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07372615 frs-core:ComputerEquipment 2023-02-28 07372615 frs-core:FurnitureFittings 2024-02-29 07372615 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07372615 frs-core:FurnitureFittings 2023-02-28 07372615 frs-core:ShareCapital 2024-02-29 07372615 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07372615 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07372615 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07372615 frs-bus:SmallEntities 2023-03-01 2024-02-29 07372615 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07372615 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07372615 frs-bus:Director1 2023-03-01 2024-02-29 07372615 frs-bus:Director2 2023-03-01 2024-02-29 07372615 frs-core:CurrentFinancialInstruments 9 2024-02-29 07372615 frs-countries:EnglandWales 2023-03-01 2024-02-29 07372615 2022-02-28 07372615 2023-02-28 07372615 2022-03-01 2023-02-28 07372615 frs-core:CurrentFinancialInstruments 2023-02-28 07372615 frs-core:Non-currentFinancialInstruments 2023-02-28 07372615 frs-core:ShareCapital 2023-02-28 07372615 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07372615 frs-core:CurrentFinancialInstruments 9 2023-02-28
Registered number: 07372615
VZION LTD
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07372615
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,337 692
1,337 692
CURRENT ASSETS
Debtors 4 77,640 65,159
Cash at bank and in hand 38,560 14,644
116,200 79,803
Creditors: Amounts Falling Due Within One Year 5 (52,964 ) (43,091 )
NET CURRENT ASSETS (LIABILITIES) 63,236 36,712
TOTAL ASSETS LESS CURRENT LIABILITIES 64,573 37,404
Creditors: Amounts Falling Due After More Than One Year 6 (11,227 ) (19,782 )
NET ASSETS 53,346 17,622
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 53,344 17,620
SHAREHOLDERS' FUNDS 53,346 17,622
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For the year ending 29 February 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.
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 Ravikiran Shivaraj
Director
12th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
1.3. 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:
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
1.4. 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.
1.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
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3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 170 3,179 3,349
Additions - 1,410 1,410
Disposals - (2,359 ) (2,359 )
As at 29 February 2024 170 2,230 2,400
Depreciation
As at 1 March 2023 25 2,632 2,657
Provided during the period 22 743 765
Disposals - (2,359 ) (2,359 )
As at 29 February 2024 47 1,016 1,063
Net Book Value
As at 29 February 2024 123 1,214 1,337
As at 1 March 2023 145 547 692
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,640 15,000
Other debtors 50,000 50,000
Directors' loan accounts 10,000 159
77,640 65,159
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 9,342 9,566
Corporation tax 35,116 25,743
Other taxes and social security 331 263
VAT 7,995 7,339
Accrued expenses 180 180
52,964 43,091
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,227 19,782
11,227 19,782
The Bank Loan relates to a Bounce Back Loan facility provided by Santander UK plc. The interest is secured by the government for the first 12 months followed by a rate of 2.5% fixed for up to 10 years. The loan capital is secured by HM Government.
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Contingent Liabilities
2024 2023
£ £
At the end of the period 18,105 -
Vzion Limited is in dispute with HM Revenue and Customs with regards to Class 1 National Insurance Contributions (NIC) whose claim represents NIC's due by Vzion Limited for payments made to a remuneration trust. The amount claimed is £18,104.65, Vzion Limited has appealed and the court has adjourned proceedings until the final decision regarding the Defendant's appeal is known.
9. Related Party Transactions
Aarishi Investments Limited 
Associated Company
At the date of the balance sheet £50,000 (2023: £50,000) was due from Aarishi Investments Limited, a company incorporated in England and Wales registered number 12192967. During the year the director of Aarishi Investments Limited, Ravikiran Shivaraj, is also a director of Vzion Ltd.
10. General Information
VZION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07372615 . The registered office is 82 High Street, Golborne, Warrington, WA3 3DA.
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