1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,486 342 1,144 xbrli:pure xbrli:shares iso4217:GBP 11001453 2023-04-01 2024-03-31 11001453 2024-03-31 11001453 2023-03-31 11001453 2022-09-01 2023-03-31 11001453 2023-03-31 11001453 2022-08-31 11001453 core:MotorVehicles 2023-04-01 2024-03-31 11001453 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 11001453 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 11001453 bus:Director1 2023-04-01 2024-03-31 11001453 core:MotorVehicles 2023-03-31 11001453 core:MotorVehicles 2024-03-31 11001453 core:DeferredTaxation 2023-04-01 2024-03-31 11001453 core:WithinOneYear 2024-03-31 11001453 core:WithinOneYear 2023-03-31 11001453 core:ShareCapital 2024-03-31 11001453 core:ShareCapital 2023-03-31 11001453 core:RetainedEarningsAccumulatedLosses 2024-03-31 11001453 core:RetainedEarningsAccumulatedLosses 2023-03-31 11001453 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11001453 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11001453 core:MotorVehicles 2023-03-31 11001453 core:DeferredTaxation 2023-03-31 11001453 core:DeferredTaxation 2024-03-31 11001453 bus:SmallEntities 2023-04-01 2024-03-31 11001453 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11001453 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11001453 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11001453 bus:FullAccounts 2023-04-01 2024-03-31 11001453 bus:AllOrdinaryShares 2024-03-31 11001453 bus:AllOrdinaryShares 2023-03-31 11001453 bus:OrdinaryShareClass2 2024-03-31 11001453 bus:OrdinaryShareClass2 2023-03-31 11001453 bus:OrdinaryShareClass3 2024-03-31 11001453 bus:OrdinaryShareClass3 2023-03-31 11001453 core:ComputerEquipment 2023-03-31 11001453 core:ComputerEquipment 2023-04-01 2024-03-31 11001453 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 11001453
VISION ANALYSIS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
VISION ANALYSIS LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
5,834
7,823
CURRENT ASSETS
Debtors
6
11,929
24,311
Cash at bank and in hand
29,162
28,833
---------
---------
41,091
53,144
CREDITORS: amounts falling due within one year
7
20,278
26,625
---------
---------
NET CURRENT ASSETS
20,813
26,519
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
26,647
34,342
PROVISIONS
Taxation including deferred tax
8
1,144
1,486
---------
---------
NET ASSETS
25,503
32,856
---------
---------
VISION ANALYSIS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
10
100
100
Profit and loss account
25,403
32,756
---------
---------
SHAREHOLDER FUNDS
25,503
32,856
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
L Norrington-Parois
Director
Company registration number: 11001453
VISION ANALYSIS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for business analysis, stated net of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Computer equipment
-
33.33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Motor vehicles
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
15,000
2,641
17,641
Additions
288
288
---------
-------
---------
At 31 March 2024
15,000
2,929
17,929
---------
-------
---------
Depreciation
At 1 April 2023
7,847
1,971
9,818
Charge for the year
1,788
489
2,277
---------
-------
---------
At 31 March 2024
9,635
2,460
12,095
---------
-------
---------
Carrying amount
At 31 March 2024
5,365
469
5,834
---------
-------
---------
At 31 March 2023
7,153
670
7,823
---------
-------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
11,458
Other debtors
11,929
12,853
---------
---------
11,929
24,311
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Corporation tax
10,682
17,637
Social security and other taxes
6,799
7,697
Other creditors
2,797
1,291
---------
---------
20,278
26,625
---------
---------
8. PROVISIONS
Deferred tax (note 9)
£
At 1 April 2023
1,486
Additions
( 342)
-------
At 31 March 2024
1,144
-------
9. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 8)
1,144
1,486
-------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
1,144
1,486
-------
-------
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
70
70
70
70
Ordinary 'B' shares of £ 1 each
30
30
30
30
----
----
----
----
100
100
100
100
----
----
----
----
The shares rank pari-pasu.
11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director had unsecured loans from the company, with advances totalling £55,908 (2023 £26,080). Repayments totalling £69,608 (2023 £33,950) were made during the year. Interest of £547 (2023 £236), at the official rate of 2.25%, has been charged on a daily basis on the interim overdrawn balance. The balance owing to the director as at 31 March 2024 was £566 (2023 £12,587).