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Registered Number: 09966704
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 18 March 2024

for

VISIBLE IMAGE LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4   4,068 
  4,068 
Current assets      
Stocks 5   29,436 
Debtors 6 71,918    3,342 
Cash at bank and in hand 4,935    14,284 
76,853    47,062 
Creditors: amount falling due within one year 7 (53,072)   (41,311)
Net current assets 23,781    5,751 
 
Total assets less current liabilities 23,781    9,819 
Creditors: amount falling due after more than one year 8 (11,373)   (47,070)
Provisions for liabilities 9   2,620 
Net assets 12,408    (34,631)
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 12,308    (34,731)
Shareholders' funds 12,408    (34,631)
 


For the period ended 18 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 February 2025 and were signed on its behalf by:


-------------------------------
Donna Williams
Director
1
General Information
Visible Image Limited is a private company, limited by shares, registered in England and Wales, registration number 09966704, registration address Unit 2d Eagle Road, Moons Moat North Ind Est, Redditch, B98 9HF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% , 20% Reducing Balance Basis and 25% Straight
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 2 (2023 : 2).
3.

Indebtedness

Creditors under one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £9,138 (2023 - £13,953).

Creditors over one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £11,373 (2023 - £40,070).

Creditors include bank loans repayable by instalments of £nil (2023 - £nil) due after more than five years.


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2023 21,803    21,803 
Additions  
Disposals (21,803)   (21,803)
At 18 March 2024  
Depreciation
At 01 February 2023 17,735    17,735 
Charge for period 1,636    1,636 
On disposals (19,371)   (19,371)
At 18 March 2024  
Net book values
Closing balance as at 18 March 2024  
Opening balance as at 01 February 2023 4,068    4,068 


5.

Stocks

2024
£
  2023
£
Stocks   29,436 
  29,436 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 71,918   
Other Debtors   3,342 
71,918    3,342 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts 18,496    38,359 
Taxation and Social Security 26,393    2,308 
Other Creditors 8,183    644 
53,072    41,311 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 11,373    47,070 
11,373    47,070 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax (2,620)   984 
Charged to Profit & Loss 2,620    (3,604)
  (2,620)

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2