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Registered number: 06122816
Compuvision 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—4
Page 1
Balance Sheet
Registered number: 06122816
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,721 1,966
1,721 1,966
CURRENT ASSETS
Debtors 5 29,207 55,319
Cash at bank and in hand 12,328 1,138
41,535 56,457
Creditors: Amounts Falling Due Within One Year 6 (16,907 ) (29,447 )
NET CURRENT ASSETS (LIABILITIES) 24,628 27,010
TOTAL ASSETS LESS CURRENT LIABILITIES 26,349 28,976
Creditors: Amounts Falling Due After More Than One Year 7 (23,303 ) (26,835 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (457 ) (457 )
NET ASSETS 2,589 1,684
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 1,589 684
SHAREHOLDERS' FUNDS 2,589 1,684
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Arshad Mahmood
Director
29/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Compuvision Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06122816 . The registered office is 204 Belchers Lane, Bordesley Green, Birmingham, West Midlands, B9 5RY.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Computer Equipment 33% RBM
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 7,401
Additions 603
As at 29 February 2024 8,004
Depreciation
As at 1 March 2023 5,435
Provided during the period 848
As at 29 February 2024 6,283
Net Book Value
As at 29 February 2024 1,721
As at 1 March 2023 1,966
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,335 24,335
Other debtors 560 560
Corporation tax recoverable assets 3,966 3,966
Director's loan account 346 26,458
29,207 55,319
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1
Corporation tax 11,525 26,019
VAT 4,061 2,227
Accruals and deferred income 1,320 1,200
16,907 29,447
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,303 26,835
23,303 26,835
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Arshad Mahmood 26,458 - 26,112 - 355
The above loan is unsecured, interest free and repayable on demand.
Page 4