Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2024 1 March 2023 false 29 February 2024 28 February 2025 28 February 2025 11185013 Mr Samuel Martin Ms Daisy Bergonzi Ms Daisy Bergonzi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11185013 2024-02-28 11185013 2025-02-28 11185013 2024-02-29 2025-02-28 11185013 frs-core:CurrentFinancialInstruments 2025-02-28 11185013 frs-core:ComputerEquipment 2025-02-28 11185013 frs-core:ComputerEquipment 2024-02-29 2025-02-28 11185013 frs-core:ComputerEquipment 2024-02-28 11185013 frs-core:ShareCapital 2025-02-28 11185013 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 11185013 frs-bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 11185013 frs-bus:FilletedAccounts 2024-02-29 2025-02-28 11185013 frs-bus:SmallEntities 2024-02-29 2025-02-28 11185013 frs-bus:AuditExempt-NoAccountantsReport 2024-02-29 2025-02-28 11185013 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 11185013 frs-bus:Director1 2024-02-29 2025-02-28 11185013 frs-bus:Director2 2024-02-29 2025-02-28 11185013 frs-bus:Director3 2024-02-29 2025-02-28 11185013 frs-countries:EnglandWales 2024-02-29 2025-02-28 11185013 2023-02-28 11185013 2024-02-28 11185013 2023-03-01 2024-02-28 11185013 frs-core:CurrentFinancialInstruments 2024-02-28 11185013 frs-core:ShareCapital 2024-02-28 11185013 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28
Registered number: 11185013
SM-Vision Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11185013
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,758 2,520
2,758 2,520
CURRENT ASSETS
Stocks 5 1,500 -
Debtors 6 9,114 924
Cash at bank and in hand 4,849 14,230
15,463 15,154
Creditors: Amounts Falling Due Within One Year 7 (17,468 ) (16,827 )
NET CURRENT ASSETS (LIABILITIES) (2,005 ) (1,673 )
TOTAL ASSETS LESS CURRENT LIABILITIES 753 847
PROVISIONS FOR LIABILITIES
Deferred Taxation (524 ) (479 )
NET ASSETS 229 368
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 129 268
SHAREHOLDERS' FUNDS 229 368
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For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Samuel Martin
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SM-Vision Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11185013 . The registered office is 57 Beacon Road, Broadstairs, Kent, CT10 3DF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 15% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 29 February 2024 4,273
Additions 724
As at 28 February 2025 4,997
Depreciation
As at 29 February 2024 1,753
Provided during the period 486
As at 28 February 2025 2,239
Net Book Value
As at 28 February 2025 2,758
As at 29 February 2024 2,520
5. Stocks
2025 2024
£ £
Work in progress 1,500 -
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 4,682 -
Other debtors 4,432 924
9,114 924
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 1,500 2,433
Taxation and social security 15,968 14,394
17,468 16,827
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8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Included in the Other Debtors is an amount owed from the company director Mr Samuel Martin totalling £923 (2024 - £924 Creditor), no interest is to be charged.
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