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Company No: 02518331 (England and Wales)

MOREVISION LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

MOREVISION LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

MOREVISION LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
MOREVISION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTORS Jacqueline Anne Doyle
John Benedict Doyle
SECRETARY Jacqueline Anne Doyle
REGISTERED OFFICE 1b Southlands Avenue
Leeds
LS17 5NU
United Kingdom
COMPANY NUMBER 02518331 (England and Wales)
ACCOUNTANT Jones & Co of York Limited
Wellington House
Aviator Court
York
YO30 4UZ
United Kingdom
MOREVISION LIMITED

BALANCE SHEET

As at 31 July 2024
MOREVISION LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,793 2,038
2,793 2,038
Current assets
Debtors 4 70,800 43,575
Cash at bank and in hand 5 102,502 116,698
173,302 160,273
Creditors: amounts falling due within one year 6 ( 11,692) ( 10,417)
Net current assets 161,610 149,856
Total assets less current liabilities 164,403 151,894
Net assets 164,403 151,894
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 164,401 151,892
Total shareholders' funds 164,403 151,894

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Morevision Limited (registered number: 02518331) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

John Benedict Doyle
Director
MOREVISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
MOREVISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Morevision 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 1b Southlands Avenue, Leeds, LS17 5NU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 August 2023 3,898 3,898
Additions 1,291 1,291
At 31 July 2024 5,189 5,189
Accumulated depreciation
At 01 August 2023 1,860 1,860
Charge for the financial year 536 536
At 31 July 2024 2,396 2,396
Net book value
At 31 July 2024 2,793 2,793
At 31 July 2023 2,038 2,038

4. Debtors

2024 2023
£ £
Trade debtors 7,455 3,261
Amounts owed by directors 63,345 40,314
70,800 43,575

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 102,502 116,698

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 145 75
Accruals 1,840 1,760
Other taxation and social security 9,707 8,582
11,692 10,417

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Other related party transactions

Excelwraps Limited is a company under common control, and at the year end owed £3,620.74 (2023: £0)
and was owed £0 (2023: £0).