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Registered number: 03749057
Vision Marketing Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 03749057
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,314 21,692
20,314 21,692
CURRENT ASSETS
Debtors 5 25,120 1,262
Cash at bank and in hand 27,754 42,141
52,874 43,403
Creditors: Amounts Falling Due Within One Year 6 (63,066 ) (51,410 )
NET CURRENT ASSETS (LIABILITIES) (10,192 ) (8,007 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,122 13,685
Creditors: Amounts Falling Due After More Than One Year 7 (5,007 ) (9,568 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,023 ) (4,060 )
NET ASSETS 92 57
CAPITAL AND RESERVES
Called up share capital 8 2 2
Income Statement 90 55
SHAREHOLDERS' FUNDS 92 57
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Page 2
For the year ending 30 April 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 her 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 Income Statement.
On behalf of the board
Ms T Shreeve
Director
09/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vision Marketing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03749057 . The registered office is Spinnaker House 48 High Street, Bagshot, Surrey, England, GU19 5AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting polices adopted are set below.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
Freehold 25% Reducing balance
Leasehold over the remaining period of the lease
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Website and Computer Equipment 25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.5. 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 statement of financial position date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the The company contributes direct to employee personal pension schemes. These amounts are recognised in the income statement as and when they are paid into the employees’ pension scheme
2.7. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.8. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Website and Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 8,887 298 60,028 134,873 204,086
Additions - - 273 5,121 5,394
As at 30 April 2024 8,887 298 60,301 139,994 209,480
Depreciation
As at 1 May 2023 8,887 298 56,991 116,218 182,394
Provided during the period - - 828 5,944 6,772
As at 30 April 2024 8,887 298 57,819 122,162 189,166
Net Book Value
As at 30 April 2024 - - 2,482 17,832 20,314
As at 1 May 2023 - - 3,037 18,655 21,692
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,000
Director's loan account 25,120 262
25,120 1,262
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,775 8,997
Bank loans and overdrafts 4,871 4,871
Corporation tax 16,022 13,457
Other taxes and social security 1,471 1,043
VAT 17,940 16,475
Net wages 1,018 -
Credit card 320 -
Pension payable 659 378
Accruals and deferred income 16,990 6,189
63,066 51,410
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,007 9,568
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
The nominal value per share is £1 and as at the year end there are 2 Ordinary shares in issue.
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Ms Tessa Shreeve (262 ) (73,538 ) 48,680 - (25,120 )
The above loan is unsecured, interest free and repayable within nine months from the year end.
10. Related Party Transactions
The Directors loan account balance of Ms T Shreeve, a director and shareholder of the company, totalled £25,120 as at the year-end, which is a current assets, interest is charged at the rate of 2.25% per annuam and repayable within nine months from the year end.
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