Company registration number 08037794 (England and Wales)
ENVISION MEDIA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
ENVISION MEDIA LTD
COMPANY INFORMATION
Directors
P Harrison
A Phillips
J Berry
Company number
08037794
Registered office
20 Greenhey Place
Skelmersdale
WN8 9SA
Accountants
Mitchell Charlesworth
Suites C,D,E & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
England
L3 9QJ
ENVISION MEDIA LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ENVISION MEDIA LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
Year
Year
ended
ended
31 May
31 May
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
366,664
450,524
Current assets
Debtors
4
251,175
411,876
Cash at bank and in hand
100,026
71,403
351,201
483,279
Creditors: amounts falling due within one year
Loans and overdrafts
10,000
10,000
Obligations under finance leases
94,175
69,988
Taxation and social security
39,507
3,464
Other creditors
113,614
137,630
257,296
221,082
Net current assets
93,905
262,197
Total assets less current liabilities
460,569
712,721
Creditors: amounts falling due after more than one year
Loans and overdrafts
10,822
20,824
Obligations under finance leases
202,606
339,953
(213,428)
(360,777)
Provisions for liabilities
(91,666)
(85,600)
Net assets
155,475
266,344
Capital and reserves
Called up share capital
7
8
8
Profit and loss reserves
155,467
266,336
Total equity
155,475
266,344
ENVISION MEDIA LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 February 2025 and are signed on its behalf by:
P Harrison
Director
Company Registration No. 08037794
ENVISION MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Envision Media Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 Greenhey Place, Skelmersdale, WN8 9SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Straight Line
Motor vehicles
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.

1.4
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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ENVISION MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
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.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
14
ENVISION MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
668,621
22,300
690,921
Additions
27,995
-
0
27,995
At 31 May 2024
696,616
22,300
718,916
Depreciation and impairment
At 1 June 2023
223,063
17,333
240,396
Depreciation charged in the year
110,614
1,242
111,856
At 31 May 2024
333,677
18,575
352,252
Carrying amount
At 31 May 2024
362,939
3,725
366,664
At 31 May 2023
445,557
4,967
450,524
Last year c/fwd depreciation
223,064
17,333
Differs from this year b/fwd by
(1)
-
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
243,428
348,432
Corporation tax recoverable
-
0
29,628
Other debtors
7,747
33,816
251,175
411,876
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
62,727
114,622
Corporation tax
5,654
-
0
Other taxation and social security
33,853
3,464
Other creditors
145,062
92,996
257,296
221,082
ENVISION MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,822
20,824
Obligations under finance leases
202,606
339,953
213,428
360,777
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
4
4
4
4
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
Ordinary C of £1 each
1
1
1
1
Ordinary D of £1 each
1
1
1
1
8
8
8
8
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