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Registered number: 06522461









WORLD VISION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WORLD VISION LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WORLD VISION LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of World Vision Limited for the year ended 31 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of World Vision Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of World Vision Limited and state those matters that we have agreed to state to the Board of Directors of World Vision Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than World Vision Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that World Vision Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of World Vision Limited. You consider that World Vision Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of World Vision Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hillier Hopkins LLP
 
Chartered Accountants
  
Radius House
51 Clarendon Road
Watford
Hertfordshire
WD17 1HP
 
15 January 2025
Page 1

 
WORLD VISION LIMITED
REGISTERED NUMBER: 06522461

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,973
61,246

Investment property
 5 
1,624,724
1,624,724

  
1,675,697
1,685,970

Current assets
  

Debtors: amounts falling due within one year
 6 
18,732
7,893

Cash at bank and in hand
 7 
239,071
358,927

  
257,803
366,820

Creditors: amounts falling due within one year
 8 
(51,390)
(187,518)

Net current assets
  
 
 
206,413
 
 
179,302

Total assets less current liabilities
  
1,882,110
1,865,272

  

Net assets
  
1,882,110
1,865,272


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,882,108
1,865,270

  
1,882,110
1,865,272


Page 2

 
WORLD VISION LIMITED
REGISTERED NUMBER: 06522461
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 by: 




................................................
L F Ramirez
Director

Date: 15 January 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
WORLD VISION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

World Vision Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Hillsdale House, Mount Pleasant, Chersley Road, Long Crendon, Aylesbury, HP18 9XH
The company's principal activity is that of providing medical services and investment property rental.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of medical services supplied during the year and property rental.

 
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.

 
2.4

Interest income

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

 
2.5

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.

Page 4

 
WORLD VISION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Taxation

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.


 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance

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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
WORLD VISION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
27,143
18,200

Cost of defined contribution pension scheme
80,000
80,000

107,143
98,200


The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2023
92,646
69,423
162,069


Additions
2,389
-
2,389



At 31 March 2024

95,035
69,423
164,458



Depreciation


At 1 April 2023
67,444
33,379
100,823


Charge for the year on owned assets
5,454
7,208
12,662



At 31 March 2024

72,898
40,587
113,485



Net book value



At 31 March 2024
22,137
28,836
50,973



At 31 March 2023
25,202
36,044
61,246

Page 6

 
WORLD VISION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,624,724



At 31 March 2024
1,624,724

The 2024 valuations were made by the directors, on an open market value for existing use basis.







6.


Debtors

2024
2023
£
£


Trade debtors
18,275
7,797

Other debtors
457
96

18,732
7,893



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
239,071
358,927

239,071
358,927


Page 7

 
WORLD VISION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
42,583
32,495

Other creditors
1,937
14,463

Accruals and deferred income
6,870
140,560

51,390
187,518



9.


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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £80,000 (2023: £80,000).


10.


Transactions with the Directors

At the balance sheet date, the directors owe the company £38 (2023: £Nil).
This balance was repaid within 9 months of the balance sheet date.

 
Page 8