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REGISTERED NUMBER: 10572214 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Coral Vision Limited

Coral Vision Limited (Registered number: 10572214)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coral Vision Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs R O'Brien
Mr AI McMurdo





REGISTERED OFFICE: 238 Station Road
Addlestone
Surrey
KT15 2PS





REGISTERED NUMBER: 10572214 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

Coral Vision Limited (Registered number: 10572214)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,553 23,531
16,553 23,531

CURRENT ASSETS
Stocks 29,725 -
Debtors 6 479,031 325,231
Cash at bank 131,515 263,062
640,271 588,293
CREDITORS
Amounts falling due within one year 7 (288,374 ) (259,182 )
NET CURRENT ASSETS 351,897 329,111
TOTAL ASSETS LESS CURRENT LIABILITIES 368,450 352,642

CREDITORS
Amounts falling due after more than one
year

8

(15,318

)

(25,122

)

PROVISIONS FOR LIABILITIES (3,207 ) (4,853 )
NET ASSETS 349,925 322,667

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Share premium 98,049 98,049
Retained earnings 248,876 221,618
349,925 322,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Coral Vision Limited (Registered number: 10572214)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Mrs R O'Brien - Director


Coral Vision Limited (Registered number: 10572214)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Coral Vision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at fair value and represents revenues receivable under contracts net of value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation policy
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Computer equipment - 33% on cost
Motor vehicle - 25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the income statement.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Coral Vision Limited (Registered number: 10572214)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 2,571
AMORTISATION
At 1 July 2023
and 30 June 2024 2,571
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Coral Vision Limited (Registered number: 10572214)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 38,545 5,678 44,223
Additions - 402 402
At 30 June 2024 38,545 6,080 44,625
DEPRECIATION
At 1 July 2023 17,235 3,457 20,692
Charge for year 5,328 2,052 7,380
At 30 June 2024 22,563 5,509 28,072
NET BOOK VALUE
At 30 June 2024 15,982 571 16,553
At 30 June 2023 21,310 2,221 23,531

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 38,545
Transfer to ownership (38,545 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 17,235
Transfer to ownership (17,235 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 21,310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 420,268 266,636
Other debtors 58,763 58,595
479,031 325,231

Coral Vision Limited (Registered number: 10572214)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,648 10,962
Trade creditors 60,229 22,890
Tax 7,512 27,610
Social security and other taxes 21,347 17,430
VAT 70,051 48,216
Other creditors 12,799 18,911
Deferred income 102,838 110,413
Accrued expenses 2,950 2,750
288,374 259,182

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 10,648 10,818
Bank loans - 2-5 years 4,670 14,304
15,318 25,122