Company registration number 05172367 (England and Wales)
VISSOC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
VISSOC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VISSOC LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
5,215
7,885
Cash at bank and in hand
10,898
14,477
16,113
22,362
Creditors: amounts falling due within one year
6
(108,683)
(99,381)
Net current liabilities
(92,570)
(77,019)
Creditors: amounts falling due after more than one year
7
(266,515)
(255,515)
Net liabilities
(359,085)
(332,534)
Capital and reserves
Called up share capital
8
3
3
Profit and loss reserves
(359,088)
(332,537)
Total equity
(359,085)
(332,534)

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

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 19 February 2025 and are signed on its behalf by:
M K S Chan
Director
Company registration number 05172367 (England and Wales)
VISSOC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Vissoc Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 24, Enterprise House, Manchester Science Park, Pencroft Way, Hulme, Manchester, Lancashire, M15 4EN.

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 £.

1.2
Going concern

As at 31 July 2024 the company has net liabilities of £359,085true. The directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis. This basis is considered adequate as in their opinion the company will continue to be supported by its main creditor, New Mile Investment Limited.

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:

Fixtures, fittings & equipment
10% straight line & 33% 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 at bank and in hand

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
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

VISSOC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 August 2023 and 31 July 2024
14,231
Depreciation and impairment
At 1 August 2023 and 31 July 2024
14,231
Carrying amount
At 31 July 2024
-
0
At 31 July 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,215
7,885
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
108,683
99,381
VISSOC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
266,515
255,515

The long term loan is secured against the assets of the company.

8
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
9
Directors' transactions

Included within other creditors at the year end is an amount of £16,493 (2023: £16,373) due to M K S Chan, director of the company.

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