Vision Project Management Solutions Limited 11399449 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is construction site management services. Digita Accounts Production Advanced 6.30.9574.0 true false true 11399449 2023-07-01 2024-06-30 11399449 2024-06-30 11399449 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-06-30 11399449 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 11399449 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 11399449 core:CurrentFinancialInstruments 2024-06-30 11399449 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11399449 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 11399449 core:FurnitureFittingsToolsEquipment 2024-06-30 11399449 core:MotorVehicles 2024-06-30 11399449 core:OtherPropertyPlantEquipment 2024-06-30 11399449 bus:SmallEntities 2023-07-01 2024-06-30 11399449 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11399449 bus:FilletedAccounts 2023-07-01 2024-06-30 11399449 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11399449 bus:RegisteredOffice 2023-07-01 2024-06-30 11399449 bus:Director1 2023-07-01 2024-06-30 11399449 bus:Director2 2023-07-01 2024-06-30 11399449 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-01 2024-06-30 11399449 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11399449 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 11399449 core:MotorVehicles 2023-07-01 2024-06-30 11399449 core:OfficeEquipment 2023-07-01 2024-06-30 11399449 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 11399449 core:PlantMachinery 2023-07-01 2024-06-30 11399449 1 2023-07-01 2024-06-30 11399449 countries:UnitedKingdom 2023-07-01 2024-06-30 11399449 2023-06-30 11399449 core:FurnitureFittingsToolsEquipment 2023-06-30 11399449 core:MotorVehicles 2023-06-30 11399449 core:OtherPropertyPlantEquipment 2023-06-30 11399449 2022-07-01 2023-06-30 11399449 2023-06-30 11399449 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 11399449 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 11399449 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 11399449 core:CurrentFinancialInstruments 2023-06-30 11399449 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11399449 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 11399449 core:FurnitureFittingsToolsEquipment 2023-06-30 11399449 core:MotorVehicles 2023-06-30 11399449 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11399449

Vision Project Management Solutions Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Vision Project Management Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Vision Project Management Solutions Limited

Company Information

Directors

Mrs T Jellis

Mr S Jellis

Registered office

16 Wood Drive
Stevenage
Hertfordshire
SG2 8PA

 

Vision Project Management Solutions Limited

(Registration number: 11399449)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,627

28,565

Current assets

 

Debtors

5

62,654

35,880

Cash at bank and in hand

 

246,945

41,921

 

309,599

77,801

Creditors: Amounts falling due within one year

6

(312,238)

(54,649)

Net current (liabilities)/assets

 

(2,639)

23,152

Total assets less current liabilities

 

44,988

51,717

Creditors: Amounts falling due after more than one year

6

-

(10,966)

Provisions for liabilities

(9,049)

(5,427)

Net assets

 

35,939

35,324

Capital and reserves

 

Called up share capital

100

100

Retained earnings

35,839

35,224

Shareholders' funds

 

35,939

35,324

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

 

Vision Project Management Solutions Limited

(Registration number: 11399449)
Balance Sheet as at 30 June 2024

.........................................
Mr S Jellis
Director

 

Vision Project Management Solutions Limited

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

1

General information

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

The address of its registered office is:
16 Wood Drive
Stevenage
Hertfordshire
SG2 8PA
United Kingdom

These financial statements were authorised for issue by the Board on 18 October 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

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.

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 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.

 

Vision Project Management Solutions Limited

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

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.

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

Office equipment

15% straight line

Plant and machinery

15% straight line

Motor Vehicles

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits,

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

 

Vision Project Management Solutions Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 2 (2023 - 2).

 

Vision Project Management Solutions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

8,374

32,034

3,879

44,287

Additions

1,440

41,892

1,760

45,092

Disposals

(763)

(32,034)

-

(32,797)

At 30 June 2024

9,051

41,892

5,639

56,582

Depreciation

At 1 July 2023

4,267

9,230

2,225

15,722

Charge for the year

1,267

1,047

721

3,035

Eliminated on disposal

(572)

(9,230)

-

(9,802)

At 30 June 2024

4,962

1,047

2,946

8,955

Carrying amount

At 30 June 2024

4,089

40,845

2,693

47,627

At 30 June 2023

4,107

22,804

1,654

28,565

5

Debtors

Current

2024
£

2023
£

Trade debtors

59,369

35,762

Prepayments

3,285

22

Other debtors

-

96

 

62,654

35,880

 

Vision Project Management Solutions Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

1,250

3,554

Trade creditors

 

106,708

6,466

Taxation and social security

 

130,096

38,624

Accruals and deferred income

 

1,325

1,325

Other creditors

 

72,859

4,680

 

312,238

54,649

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

10,966

Creditors include hire purchase contracts which are secured on the assets concerned of £nil (2023: £10,966).

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

-

10,966

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

1,250

930

Hire purchase contracts

-

2,624

1,250

3,554

Included within current loans and borrowings is an unsecured credit card.

 

Vision Project Management Solutions Limited

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Dividends

2024

2023

£

£

Interim dividend of £1,810.00 (2023 - £570.00) per ordinary share

181,000

57,000

 

 

10

Related party transactions

At the balance sheet date the company owed £72,859 to Mr S Jellis and Mrs T Jellis, the directors of the company. This loan is interest free and is repayable on demand.

11

Ultimate Controlling Party

The ultimate controlling party is Mr S Jellis and Mrs T Jellis, by virtue of their joint shareholding.