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PRODUCTVISION LIMITED

Registered Number
03920978
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PRODUCTVISION LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Ray Cook
Jonathan Martin

Registered Address

107-109 Towngate
Leyland
PR25 2LQ

Registered Number

03920978 (England and Wales)
PRODUCTVISION LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,7214,554
4,7214,554
Current assets
Debtors117,815141,591
Cash at bank and on hand1,436,4431,348,919
1,554,2581,490,510
Creditors amounts falling due within one year4(163,658)(215,044)
Net current assets (liabilities)1,390,6001,275,466
Total assets less current liabilities1,395,3211,280,020
Provisions for liabilities5(1,180)(866)
Net assets1,394,1411,279,154
Capital and reserves
Called up share capital11
Profit and loss account1,394,1401,279,153
Shareholders' funds1,394,1411,279,154
The financial statements were approved and authorised for issue by the Board of Directors on 25 February 2025, and are signed on its behalf by:
Jonathan Martin
Director
Registered Company No. 03920978
PRODUCTVISION LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents amount chargeable to customers, net of value added tax in respect of license fees for the use of computer software, custom programming of the software and the ongoing training, support and updating of the software. Income is recognised evenly over the period of the contract.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Straight line (years)
Office Equipment33
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2420,07520,075
Additions3,0133,013
At 31 December 2423,08823,088
Depreciation and impairment
At 01 January 2415,52115,521
Charge for year2,8462,846
At 31 December 2418,36718,367
Net book value
At 31 December 244,7214,721
At 31 December 234,5544,554
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,6176,769
Taxation and social security67,189126,882
Other creditors1,809977
Accrued liabilities and deferred income89,04380,416
Total163,658215,044
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,180866
Total1,180866