Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09139057 2023-04-01 2024-03-31 09139057 2022-04-01 2023-03-31 09139057 2024-03-31 09139057 2023-03-31 09139057 c:Director1 2023-04-01 2024-03-31 09139057 d:Buildings 2023-04-01 2024-03-31 09139057 d:Buildings 2024-03-31 09139057 d:Buildings 2023-03-31 09139057 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09139057 d:FurnitureFittings 2023-04-01 2024-03-31 09139057 d:FurnitureFittings 2024-03-31 09139057 d:FurnitureFittings 2023-03-31 09139057 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09139057 d:OfficeEquipment 2023-04-01 2024-03-31 09139057 d:OfficeEquipment 2024-03-31 09139057 d:OfficeEquipment 2023-03-31 09139057 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09139057 d:OtherPropertyPlantEquipment 2024-03-31 09139057 d:OtherPropertyPlantEquipment 2023-03-31 09139057 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09139057 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09139057 d:CurrentFinancialInstruments 2024-03-31 09139057 d:CurrentFinancialInstruments 2023-03-31 09139057 d:Non-currentFinancialInstruments 2024-03-31 09139057 d:Non-currentFinancialInstruments 2023-03-31 09139057 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09139057 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09139057 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09139057 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09139057 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09139057 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09139057 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09139057 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09139057 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 09139057 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09139057 d:ShareCapital 2024-03-31 09139057 d:ShareCapital 2023-03-31 09139057 d:RevaluationReserve 2024-03-31 09139057 d:RevaluationReserve 2023-03-31 09139057 d:RetainedEarningsAccumulatedLosses 2024-03-31 09139057 d:RetainedEarningsAccumulatedLosses 2023-03-31 09139057 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09139057 c:OrdinaryShareClass1 2024-03-31 09139057 c:OrdinaryShareClass1 2023-03-31 09139057 c:FRS102 2023-04-01 2024-03-31 09139057 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09139057 c:FullAccounts 2023-04-01 2024-03-31 09139057 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09139057 2 2023-04-01 2024-03-31 09139057 5 2023-04-01 2024-03-31 09139057 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09139057 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09139057 d:OtherDeferredTax 2024-03-31 09139057 d:OtherDeferredTax 2023-03-31 09139057 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09139057









VISION (BIRMINGHAM) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
VISION (BIRMINGHAM) LIMITED
REGISTERED NUMBER: 09139057

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,236,598
1,247,067

  
1,236,598
1,247,067

Current assets
  

Stocks
  
588
6,277

Debtors: amounts falling due within one year
 5 
1,808
2,923

Cash at bank and in hand
  
9,173
5,109

  
11,569
14,309

Creditors: amounts falling due within one year
 6 
(89,181)
(79,835)

Net current liabilities
  
 
 
(77,612)
 
 
(65,526)

Total assets less current liabilities
  
1,158,986
1,181,541

Creditors: amounts falling due after more than one year
 7 
(497,174)
(525,615)

Provisions for liabilities
  

Deferred tax
 9 
(126,686)
(133,547)

  
 
 
(126,686)
 
 
(133,547)

Net assets
  
535,126
522,379


Capital and reserves
  

Called up share capital 
 10 
100
100

Revaluation reserve
  
528,950
522,089

Profit and loss account
  
6,076
190

  
535,126
522,379


Page 1

 
VISION (BIRMINGHAM) LIMITED
REGISTERED NUMBER: 09139057
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 December 2024.




Rajiv Chauhan
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 09139057.  The Company's registered office is The Bank Buildings, Langley High Street, Langley, Oldbury, B69 4SN.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years straight line
Fixtures and fittings
-
15% straight line
Office equipment
-
15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 5

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
1,115,977
66,707
16,907
116,695
1,316,286



At 31 March 2024

1,115,977
66,707
16,907
116,695
1,316,286



Depreciation


At 1 April 2023
-
36,708
15,041
17,468
69,217


Charge for the year on owned assets
-
7,448
688
2,334
10,470



At 31 March 2024

-
44,156
15,729
19,802
79,687



Net book value



At 31 March 2024
1,115,977
22,551
1,178
96,893
1,236,599



At 31 March 2023
1,115,977
29,998
1,866
99,226
1,247,067

Cost or valuation at 31 March 2024 is as follows:

Land and buildings
£


At cost
460,342
At valuation:

2020
655,635



1,115,977

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
460,342
460,342

Net book value
460,342
460,342

Page 7

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,808
2,923

1,808
2,923



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
29,835
13,312

Trade creditors
4,056
6,466

Amounts owed to group undertakings
12,600
12,600

Corporation tax
12,559
7,761

Other taxation and social security
536
136

Other creditors
28,715
38,680

Accruals and deferred income
880
880

89,181
79,835


The following liabilities were secured:

2024
2023
£
£



Bank loans
22,635
4,125

22,635
4,125

Details of security provided:

Bank loans are secured against the assets of the company which contain fixed and floating charges.

Page 8

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
497,174
525,615

497,174
525,615


The following liabilities were secured:

2024
2023
£
£



Bank loans
473,774
496,663

473,774
496,663

Details of security provided:

Bank loans are secured against the assets of the company which contain fixed and floating charges.

Page 9

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
29,835
13,312


29,835
13,312

Amounts falling due 1-2 years

Bank loans
29,835
10,125


29,835
10,125

Amounts falling due 2-5 years

Bank loans
84,105
30,376


84,105
30,376

Amounts falling due after more than 5 years

Bank loans
383,234
485,113

383,234
485,113

527,009
538,926


Page 10

 
VISION (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(133,547)


Charged to profit or loss
6,861



At end of year
(126,686)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,115)
(8,977)

Revaluation
124,570
124,570

126,685
133,547


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund.  Contributions totalling £58 (2023: £63) were payable to the fund at the balance sheet date.


12.


Related party transactions

As at the balance sheet date £26,769 (2023: £36,727) was due to the director. The loan is interest free and repayable on demand.

 
Page 11