Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseweb design and hosting1011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03597321 2023-08-01 2024-07-31 03597321 2022-08-01 2023-07-31 03597321 2024-07-31 03597321 2023-07-31 03597321 c:Director1 2023-08-01 2024-07-31 03597321 d:PlantMachinery 2024-07-31 03597321 d:PlantMachinery 2023-07-31 03597321 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03597321 d:OfficeEquipment 2023-08-01 2024-07-31 03597321 d:CurrentFinancialInstruments 2024-07-31 03597321 d:CurrentFinancialInstruments 2023-07-31 03597321 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03597321 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03597321 d:ShareCapital 2024-07-31 03597321 d:ShareCapital 2023-07-31 03597321 d:RetainedEarningsAccumulatedLosses 2024-07-31 03597321 d:RetainedEarningsAccumulatedLosses 2023-07-31 03597321 c:FRS102 2023-08-01 2024-07-31 03597321 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03597321 c:FullAccounts 2023-08-01 2024-07-31 03597321 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03597321 2 2023-08-01 2024-07-31 03597321 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 03597321 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 03597321 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 03597321









MILLENNIUM VIDEOGRAPHICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MILLENNIUM VIDEOGRAPHICS LIMITED
REGISTERED NUMBER: 03597321

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,727
4,397

  
2,727
4,397

Current assets
  

Debtors: amounts falling due within one year
 5 
192,763
135,890

Cash at bank and in hand
  
10,430
89,155

  
203,193
225,045

Creditors: amounts falling due within one year
 6 
(205,047)
(208,507)

Net current (liabilities)/assets
  
 
 
(1,854)
 
 
16,538

Total assets less current liabilities
  
873
20,935

Provisions for liabilities
  

Deferred tax
 7 
(682)
(974)

  
 
 
(682)
 
 
(974)

Net assets
  
191
19,961

Page 1

 
MILLENNIUM VIDEOGRAPHICS LIMITED
REGISTERED NUMBER: 03597321
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
91
19,861

  
191
19,961


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2025.




N S Marsh
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Millennium Videographics Limited is a private limited liability company with share capital incorporated in England & Wales under company number 03597321. The company's registered office and administation address is Basepoint Business Centre, 110 Butterfield, Great Marlings, Luton, Bedfordshire LU2 8DL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and the amounts in the financial statements are rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).

Page 6

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Office Equipment

£



Cost or valuation


At 1 August 2023
16,953



At 31 July 2024

16,953



Depreciation


At 1 August 2023
12,556


Charge for the year on owned assets
1,670



At 31 July 2024

14,226



Net book value



At 31 July 2024
2,727



At 31 July 2023
4,397

Page 7

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
167,093
102,932

Other debtors
25,670
32,958

192,763
135,890



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
6,547
-

Trade creditors
3,298
36,772

Corporation tax
32,551
13,526

Other taxation and social security
75,158
67,642

Other creditors
3,543
22,503

Accruals and deferred income
83,950
68,064

205,047
208,507


Page 8

 
MILLENNIUM VIDEOGRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Deferred taxation




2024


£






At beginning of year
(974)


Charged to profit or loss
292



At end of year
(682)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(682)
(974)

(682)
(974)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,563 (2023 - £18,382). Contributions totalling £1,328 (2023 - £648) were payable to the fund at the balance sheet date


9.


Transactions with directors

During the year the company has made an advance to the director of £25,669. This advance is unsecured, repayable on demand and bears interest at HMRC's Official Interest Rate.


10.


Related party transactions

During the finanical year the company declared and paid dividends of £77,500 (2023: £98,000) to NS&M Limited, its parent undertaking. 


11.


Controlling party

The company's immediate and ultimate parent undertaking is NS&M Limited, a private company incorporated in England & Wales under company number 09188160, with its registered office at Baseoint Business Centre, 110 Butterfield, Great Marlings, Luton, Bedfordshire LU2 8DL.
There is no one ultimate controlling party.

 
Page 9