IRIS Accounts Production v24.3.0.553 12581502 Board of Directors 1.6.23 31.5.24 31.5.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125815022023-05-31125815022024-05-31125815022023-06-012024-05-31125815022022-05-31125815022022-06-012023-05-31125815022023-05-3112581502ns15:EnglandWales2023-06-012024-05-3112581502ns14:PoundSterling2023-06-012024-05-3112581502ns10:Director12023-06-012024-05-3112581502ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112581502ns10:SmallEntities2023-06-012024-05-3112581502ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3112581502ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112581502ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112581502ns10:FullAccounts2023-06-012024-05-3112581502ns10:Director22023-06-012024-05-3112581502ns10:RegisteredOffice2023-06-012024-05-3112581502ns5:CurrentFinancialInstruments2024-05-3112581502ns5:CurrentFinancialInstruments2023-05-3112581502ns5:Non-currentFinancialInstruments2024-05-3112581502ns5:Non-currentFinancialInstruments2023-05-3112581502ns5:ShareCapital2024-05-3112581502ns5:ShareCapital2023-05-3112581502ns5:RetainedEarningsAccumulatedLosses2024-05-3112581502ns5:RetainedEarningsAccumulatedLosses2023-05-3112581502ns5:PlantMachinery2023-05-3112581502ns5:PlantMachinery2023-06-012024-05-3112581502ns5:PlantMachinery2024-05-3112581502ns5:PlantMachinery2023-05-3112581502ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3112581502ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31125815021ns10:Director12023-05-31125815021ns10:Director12022-05-31125815021ns10:Director12023-06-012024-05-31125815021ns10:Director12022-06-012023-05-31125815021ns10:Director12024-05-31125815021ns10:Director12023-05-31
REGISTERED NUMBER: 12581502 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

VISION 88 GROUP LTD

VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VISION 88 GROUP LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: MS L J Hand
S A Hand





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 12581502 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,514 755

CURRENT ASSETS
Debtors 5 7,116 -
Cash at bank 14,008 3,467
21,124 3,467
CREDITORS
Amounts falling due within one year 6 2,304 44,570
NET CURRENT ASSETS/(LIABILITIES) 18,820 (41,103 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,334

(40,348

)

CREDITORS
Amounts falling due after more than one
year

7

26,392

24,627
NET LIABILITIES (6,058 ) (64,975 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,158 ) (65,075 )
SHAREHOLDERS' FUNDS (6,058 ) (64,975 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)

STATEMENT OF FINANCIAL POSITION - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:





MS L J Hand - Director


VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Vision 88 Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, Directors' loan accounts, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically bank accounts, trade debtors, Directors loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

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 is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 888
Additions 1,114
At 31 May 2024 2,002
DEPRECIATION
At 1 June 2023 133
Charge for year 355
At 31 May 2024 488
NET BOOK VALUE
At 31 May 2024 1,514
At 31 May 2023 755

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,116 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 736 1,176
Taxation and social security 1 1
Other creditors 1,567 43,393
2,304 44,570

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 26,392 24,627

VISION 88 GROUP LTD (REGISTERED NUMBER: 12581502)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
MS L J Hand
Balance outstanding at start of year - -
Amounts advanced 7,116 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,116 -

The above loan has been repaid within 9 months of the balance sheet date. Interest has been charged on the loan at 2.5%.