REGISTERED NUMBER: |
A. M. VISION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
29TH FEBRUARY 2024 |
REGISTERED NUMBER: |
A. M. VISION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
29TH FEBRUARY 2024 |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A. M. VISION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
80 West View |
Barlby Road |
Selby |
North Yorkshire |
YO8 5BD |
BANKERS: |
2 Silver Street |
Hull |
HU1 1HX |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
BALANCE SHEET |
29TH FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
BALANCE SHEET - continued |
29TH FEBRUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
A. M. Vision Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH FEBRUARY 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st March 2023 |
and 29th February 2024 |
AMORTISATION |
At 1st March 2023 |
and 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st March 2023 |
Additions |
At 29th February 2024 |
DEPRECIATION |
At 1st March 2023 |
Charge for year |
At 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
COST |
At 1st March 2023 |
and 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
The directors consider the market value of the properties held as investments to be £362,633. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
A. M. VISION LIMITED (REGISTERED NUMBER: 04368191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | RELATED PARTY DISCLOSURES |
The following advances and credits to directors subsisted during this and the previous years: |
2024 | 2023 |
£ | £ |
Balance due from the company at 1st March 2023 | 868 | 1,004 |
Dividends | 68,500 | 72,975 |
Payments made on behalf of director | (110,118 | ) | (84,396 | ) |
Payments made by director on behalf of company | 41,817 | 11,285 |
Undrawn remuneration | - | - |
Balance due from the company at 28th February 2024 | 1,067 | 868 |
Advances were repayable on demand and interest has been charged at 2.5%. |