Acorah Software Products - Accounts Production 16.2.800 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10013836 Mr Dean Freeman Mr Permjit Sulh Mr Simon White iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10013836 2023-03-31 10013836 2024-03-31 10013836 2023-04-01 2024-03-31 10013836 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10013836 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10013836 frs-core:PlantMachinery 2023-04-01 2024-03-31 10013836 frs-core:ShareCapital 2024-03-31 10013836 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10013836 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10013836 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 10013836 frs-bus:SmallEntities 2023-04-01 2024-03-31 10013836 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10013836 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10013836 frs-core:CostValuation 2023-03-31 10013836 frs-core:CostValuation 2024-03-31 10013836 frs-bus:Director1 2023-04-01 2024-03-31 10013836 frs-bus:Director2 2023-04-01 2024-03-31 10013836 frs-bus:Director3 2023-04-01 2024-03-31 10013836 frs-countries:EnglandWales 2023-04-01 2024-03-31 10013836 2022-03-31 10013836 2023-03-31 10013836 2022-04-01 2023-03-31 10013836 frs-core:ShareCapital 2023-03-31 10013836 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10013836
Vision Construct Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Contents
Page
Accountants' Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Vision Construct Limited For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vision Construct Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Vision Construct Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Vision Construct Limited and state those matters that we have agreed to state to the directors of Vision Construct Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vision Construct Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Vision Construct Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Vision Construct Limited . You consider that Vision Construct Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Vision Construct Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
19 December 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 1
Page 2
Abridged Balance Sheet
Registered number: 10013836
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,890 13,508
Investments 5 23 23
15,913 13,531
CURRENT ASSETS
Stocks 1,187,433 3,366,666
Debtors 9,820,257 9,637,560
Cash at bank and in hand 2,643,948 3,967,761
13,651,638 16,971,987
Creditors: Amounts Falling Due Within One Year (13,275,842 ) (10,632,495 )
NET CURRENT ASSETS (LIABILITIES) 375,796 6,339,492
TOTAL ASSETS LESS CURRENT LIABILITIES 391,709 6,353,023
NET ASSETS 391,709 6,353,023
CAPITAL AND RESERVES
Called up share capital 6 300 300
Profit and Loss Account 391,409 6,352,723
SHAREHOLDERS' FUNDS 391,709 6,353,023
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Page 3
For the year ending 31 March 2024 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Permjit Sulh
Director
19 December 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Vision Construct Limited Registered number 10013836 is a limited by shares company incorporated in England & Wales. The Registered Office is C K R House, 70 East Hill, Dartford, DA1 1RZ.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% straight line basis
Fixtures & Fittings 25% straight line basis
Computer Equipment 25% straight line basis
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 on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 19)
18 19
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4. Tangible Assets
Total
£
Cost
As at 1 April 2023 72,670
Additions 12,866
As at 31 March 2024 85,536
Depreciation
As at 1 April 2023 59,162
Provided during the period 10,484
As at 31 March 2024 69,646
Net Book Value
As at 31 March 2024 15,890
As at 1 April 2023 13,508
5. Investments
Total
£
Cost
As at 1 April 2023 23
As at 31 March 2024 23
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 23
As at 1 April 2023 23
The company held 2272 ordinary shares as at the year end in Courtlands DV Ltd (11404980).
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
Page 5