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Registration number: 12880064

Visual Audio Sensory Technology Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Visual Audio Sensory Technology Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Visual Audio Sensory Technology Ltd

Company Information

Directors

Mr J J Smyth

Miss C Webb

Registered office

Flat 17 Oak House
Cottons Approach
Romford
RM7 7LN

 

Visual Audio Sensory Technology Ltd

(Registration number: 12880064)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

434,049

538,675

Current assets

 

Debtors

5

171,207

269,764

Cash at bank and in hand

 

73,120

99,260

 

244,327

369,024

Creditors: Amounts falling due within one year

6

(166,232)

(284,186)

Net current assets

 

78,095

84,838

Total assets less current liabilities

 

512,144

623,513

Creditors: Amounts falling due after more than one year

6

(113,119)

(149,676)

Provisions for liabilities

(76,265)

(83,767)

Net assets

 

322,760

390,070

Capital and reserves

 

Called up share capital

100

100

Retained earnings

322,660

389,970

Shareholders' funds

 

322,760

390,070

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

.........................................
Mr J J Smyth
Director

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 17 Oak House
Cottons Approach
Romford
RM7 7LN
England

These financial statements were authorised for issue by the Board on 5 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Plant and machinery

25% straight line

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

622,281

39,162

62,486

723,929

Additions

51,439

34,592

1,007

87,038

Disposals

(10,944)

-

-

(10,944)

At 30 November 2024

662,776

73,754

63,493

800,023

Depreciation

At 1 December 2023

160,139

10,680

14,435

185,254

Charge for the year

157,046

10,020

15,844

182,910

Eliminated on disposal

(2,190)

-

-

(2,190)

At 30 November 2024

314,995

20,700

30,279

365,974

Carrying amount

At 30 November 2024

347,781

53,054

33,214

434,049

At 30 November 2023

462,142

28,482

48,051

538,675

At the balance sheet date, the total net book value of assets held under hire purchase agreements was £204,948 (2023: £207,474). The total depreciation charged in ther period on these assets was £60,458 (2023: £27,933). The hire purchase agreements are secured on the assets concerned.

5

Debtors

Current

2024
£

2023
£

Trade debtors

43,741

180,862

Prepayments

914

10,802

Other debtors

126,552

78,100

 

171,207

269,764

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

97,429

68,490

Trade creditors

 

8,725

104,491

Taxation and social security

 

45,177

36,435

Accruals and deferred income

 

1,745

1,745

Other creditors

 

13,156

73,025

 

166,232

284,186

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

113,119

149,676

Included in loans and borrowings are hire purchase contracts referred to in note 4.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A Shares of £1 each

95

95

95

95

Ordinary B Shares of £1 each

5

5

5

5

 

100

100

100

100

8

Ultimate controlling party

The ultimate controlling party is Mr J J Smyth, by virtue of his majority shareholding.

 

Visual Audio Sensory Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

113,119

149,676

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

97,429

68,490