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Registered number: 12961209









Vista (NW) Limited







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Vista (NW) Limited
Registered number: 12961209

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,222
1,221

Current assets
  

Debtors: amounts falling due within one year
 5 
221,595
89,543

Cash at bank and in hand
  
70,877
91,500

  
292,472
181,043

Creditors: amounts falling due within one year
 6 
(258,700)
(177,509)

Net current assets
  
 
 
33,772
 
 
3,534

  

Net assets
  
35,994
4,755


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
35,894
4,655

  
35,994
4,755


The directors consider 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 directors acknowledge their 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 by: 




G. Ruben
Director

Date: 26 March 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Vista (NW) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

Vista (NW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Windmill Green Industrious 24 Mount Street, 2nd Floor Industrious, Manchester, M2 3NX.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

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.

Commission revenue is recognised at inception of insurance policies on behalf of the company's clients.

 
2.4

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.

Page 2

 
Vista (NW) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Taxation

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.

 
2.7

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
33%
reducing balance

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.

 
2.8

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 3

 
Vista (NW) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.12

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

2024
2023
£
£

Wages and salaries
193,048
228,596

Social security costs
13,544
13,215

Cost of defined contribution scheme
10,870
5,950

217,462
247,761


The average monthly number of employees, including directors, during the year was 5 (2023 - 3).

Page 4

 
Vista (NW) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2023
1,267


Additions
1,837



At 30 June 2024

3,104



Depreciation


At 1 July 2023
46


Charge for the year on owned assets
836



At 30 June 2024

882



Net book value



At 30 June 2024
2,222



At 30 June 2023
1,221


5.


Debtors

2024
2023
£
£


Trade debtors
194,995
62,943

Other debtors
26,500
26,500

Called up share capital not paid
100
100

221,595
89,543


Page 5

 
Vista (NW) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
186,802
84,896

Amounts owed to group undertakings
21,940
62,008

Corporation tax
35,599
3,159

Other creditors
956
-

Accruals and deferred income
13,403
27,446

258,700
177,509



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



75  Ordinary A shares of £1.00 each
75
75
25 Ordinary B shares of £1.00 each
25
25

100

100

Shares rank pari-passu in all respects.



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 £10,870 (2023: £5,950) . Contributions totalling £ nil (2023: £nil) were payable to the fund at the balance sheet date and are included in creditors.


9.


Controlling party

Vista Insurance Brokers Limited is the immediate parent undertaking. Vista Insurance Brokers Limited is incorporated in England and its registered office is Windmill Green Industrious 24 Mount Street, 2nd Floor Industrious, Manchester, M2 3NX .
The Company's ultimate parent undertaking is Vista Brokers Holdings Limited, a company incorporated in England. Its registered office is Windmill Green Industrious 24 Mount Street, 2nd Floor Industrious, Manchester, M2 3NX.

 
Page 6