6 4 Concept Visual Management Limited 08019619 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is design of visual presentation aids Digita Accounts Production Advanced 6.30.9574.0 true 08019619 2023-05-01 2024-04-30 08019619 2024-04-30 08019619 bus:OrdinaryShareClass1 2024-04-30 08019619 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 08019619 core:CurrentFinancialInstruments 2024-04-30 08019619 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 08019619 core:Non-currentFinancialInstruments 2024-04-30 08019619 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 08019619 core:FurnitureFittingsToolsEquipment 2024-04-30 08019619 core:MotorVehicles 2024-04-30 08019619 bus:SmallEntities 2023-05-01 2024-04-30 08019619 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08019619 bus:FilletedAccounts 2023-05-01 2024-04-30 08019619 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08019619 bus:RegisteredOffice 2023-05-01 2024-04-30 08019619 bus:Director1 2023-05-01 2024-04-30 08019619 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 08019619 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08019619 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 08019619 core:MotorVehicles 2023-05-01 2024-04-30 08019619 core:OfficeEquipment 2023-05-01 2024-04-30 08019619 core:PlantMachinery 2023-05-01 2024-04-30 08019619 countries:England 2023-05-01 2024-04-30 08019619 2023-04-30 08019619 core:FurnitureFittingsToolsEquipment 2023-04-30 08019619 core:MotorVehicles 2023-04-30 08019619 2022-05-01 2023-04-30 08019619 2023-04-30 08019619 bus:OrdinaryShareClass1 2023-04-30 08019619 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 08019619 core:CurrentFinancialInstruments 2023-04-30 08019619 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 08019619 core:Non-currentFinancialInstruments 2023-04-30 08019619 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 08019619 core:FurnitureFittingsToolsEquipment 2023-04-30 08019619 core:MotorVehicles 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08019619

Concept Visual Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Concept Visual Management Limited

(Registration number: 08019619)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

89,729

69,414

Current assets

 

Stocks

5

6,000

6,000

Debtors

6

77,698

90,206

Cash at bank and in hand

 

89,571

130,450

 

173,269

226,656

Creditors: Amounts falling due within one year

7

(44,290)

(63,150)

Net current assets

 

128,979

163,506

Total assets less current liabilities

 

218,708

232,920

Creditors: Amounts falling due after more than one year

7

(11,200)

(19,120)

Provisions for liabilities

(4,608)

(6,092)

Net assets

 

202,900

207,708

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

202,800

207,608

Shareholders' funds

 

202,900

207,708

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
Christopher Brodrick
Director

 

Concept Visual Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 18
Northedge Business Park
Alfreton Road
Derby
DE21 4BN

These financial statements were authorised for issue by the director on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Concept Visual Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Concept Visual Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 4).

 

Concept Visual Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

57,241

69,360

126,601

Additions

249

42,500

42,749

At 30 April 2024

57,490

111,860

169,350

Depreciation

At 1 May 2023

34,021

23,167

57,188

Charge for the year

4,694

17,739

22,433

At 30 April 2024

38,715

40,906

79,621

Carrying amount

At 30 April 2024

18,775

70,954

89,729

At 30 April 2023

23,221

46,193

69,414

5

Stocks

2024
£

2023
£

Other inventories

6,000

6,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

49,366

61,874

Amounts owed by related parties

20,000

20,000

Other debtors

 

8,332

8,332

   

77,698

90,206

7

Creditors

Creditors: amounts falling due within one year

 

Concept Visual Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

8,240

10,497

Trade creditors

 

4,721

3,135

Taxation and social security

 

15,806

30,227

Accruals and deferred income

 

465

18,452

Other creditors

 

15,058

839

 

44,290

63,150

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,200

19,120

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,200

19,120

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,240

7,903

Hire purchase contracts

-

2,594

8,240

10,497

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100