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Registration number: 13249041

VENSIGHT MEDIA HOLDINGS LTD

Annual Report and Financial Statements

for the Year Ended 29 February 2024

 

VENSIGHT MEDIA HOLDINGS LTD

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

VENSIGHT MEDIA HOLDINGS LTD

Company Information

Director

Mr Robert Denham

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

Jon Huntley - AIMS accountants for Business
Certified
61 Brancaster Lane
Purley
Surrey
CR8 1HL

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
VENSIGHT MEDIA HOLDINGS LTD
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VENSIGHT MEDIA HOLDINGS LTD for the year ended 29 February 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of VENSIGHT MEDIA HOLDINGS 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 VENSIGHT MEDIA HOLDINGS LTD and state those matters that we have agreed to state to the Board of Directors of VENSIGHT MEDIA HOLDINGS LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VENSIGHT MEDIA HOLDINGS LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that VENSIGHT MEDIA HOLDINGS 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 VENSIGHT MEDIA HOLDINGS LTD. You consider that VENSIGHT MEDIA HOLDINGS 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 VENSIGHT MEDIA HOLDINGS 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.

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

Jon Huntley - AIMS accountants for Business
Certified
61 Brancaster Lane
Purley
Surrey
CR8 1HL

26 November 2024

 

VENSIGHT MEDIA HOLDINGS LTD

(Registration number: 13249041)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

59,734

12,320

Cash at bank and in hand

 

15,366

1,828

 

75,100

14,148

Creditors: Amounts falling due within one year

6

(36,580)

(400)

Net current assets

 

38,520

13,748

Net assets

 

38,521

13,749

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

38,520

13,748

Shareholders' funds

 

38,521

13,749

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
Mr Robert Denham
Director

 

VENSIGHT MEDIA HOLDINGS LTD

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU

These financial statements were authorised for issue by the director on 26 November 2024.

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 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 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.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 26 November 2024 was , who signed for and on behalf of .

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

Tax

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 group operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

VENSIGHT MEDIA HOLDINGS LTD

Notes to the Financial Statements for the Year Ended 29 February 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

VENSIGHT MEDIA HOLDINGS LTD

Notes to the Financial Statements for the Year Ended 29 February 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 March 2023

1

Provision

Carrying amount

At 29 February 2024

1

At 28 February 2023

1

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

-

12,320

Other debtors

 

59,734

-

 

VENSIGHT MEDIA HOLDINGS LTD

Notes to the Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

36,180

-

Accruals and deferred income

 

400

400

 

36,580

400

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £28,673.25 (2023 - £22,608.00) per each Ordinary

 

57,347

 

45,216