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REGISTERED NUMBER: 05006046 (England and Wales)















VISION NATURAL STONE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






VISION NATURAL STONE LIMITED (REGISTERED NUMBER: 05006046)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


VISION NATURAL STONE LIMITED (REGISTERED NUMBER: 05006046)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 988 505

Current assets
Stocks 5 174,720 293,950
Debtors 6 1,265,232 1,198,088
Cash at bank and in hand 714,887 492,284
2,154,839 1,984,322
Creditors
Amounts falling due within one year 7 (687,131 ) (481,563 )
Net current assets 1,467,708 1,502,759
Total assets less current liabilities 1,468,696 1,503,264

Provisions for liabilities (247 ) (96 )
Net assets 1,468,449 1,503,168

Capital and reserves
Called up share capital 100 100
Retained earnings 1,468,349 1,503,068
1,468,449 1,503,168

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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





Ishaq Alli - Director


VISION NATURAL STONE LIMITED (REGISTERED NUMBER: 05006046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. Statutory information

Vision Natural Stone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05006046

Registered office: Ground Floor, Citygate,
Longridge Road, Preston,
United Kingdom
PR2 5BQ

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 each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


VISION NATURAL STONE LIMITED (REGISTERED NUMBER: 05006046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. Accounting policies - continued
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.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 June 2023 8,105 - 8,105
Additions - 637 637
At 31 May 2024 8,105 637 8,742
Depreciation
At 1 June 2023 7,600 - 7,600
Charge for year 101 53 154
At 31 May 2024 7,701 53 7,754
Net book value
At 31 May 2024 404 584 988
At 31 May 2023 505 - 505

5. Stocks
2024 2023
£    £   
Stocks 174,720 293,950

VISION NATURAL STONE LIMITED (REGISTERED NUMBER: 05006046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 217,359 250,215
Other debtors 1,047,873 947,873
1,265,232 1,198,088

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 1,727 -
Trade creditors 353,538 156,451
Taxation and social security 41,872 70,495
Other creditors 289,994 254,617
687,131 481,563

8. Related party disclosures

Included in creditors amounts falling due within one year is a directors' loan balance. The balance owed to the directors at the end of the year is £288,696 (2023: £253,319). The loan is unsecured, interest free and repayable on demand.

Included within other debtors receivable within one year is an amount of £1,047,873 (2023: £947,873) owed by Vision Real Estate Investments Ltd in which Ishaq Alli is a director. The loan is interest free and unsecured and repayable on demand.