2023-06-012024-05-312024-05-31false10776470Warner Vision 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Warner Vision Ltd

Registered Number
10776470
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Warner Vision Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Jonathan Warner
Rebecca Jane Warner

Registered Address

6 Barberry Drive
Chard
TA20 1HR

Registered Number

10776470 (England and Wales)
Warner Vision Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets23,55345,256
23,55345,256
Current assets
Stocks-500
Debtors-432
Cash at bank and on hand10,19319,627
10,19320,559
Creditors amounts falling due within one year(15,412)(30,650)
Net current assets (liabilities)(5,219)(10,091)
Total assets less current liabilities18,33435,165
Creditors amounts falling due after one year-(10,790)
Provisions for liabilities(4,475)(8,599)
Net assets13,85915,776
Capital and reserves
Called up share capital200100
Profit and loss account13,65915,676
Shareholders' funds13,85915,776
The financial statements were approved and authorised for issue by the Board of Directors on 19 November 2024, and are signed on its behalf by:
Rebecca Jane Warner
Director
Registered Company No. 10776470
Warner Vision Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
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).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings20-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees
The following average number of employees includes directors.

20242023
Average number of employees during the year22