Visible Ventures Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10602881 (England and Wales)

Financial Statements for the Year Ended 31 July 2024

for

Visible Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D M Connelly

C T Connelly

SECRETARY:

REGISTERED OFFICE:

1 Mortimer Street

Birkenhead

Merseyside

CH41 5EU

REGISTERED NUMBER:

10602881 (England and Wales)

ACCOUNTANTS:

Lerman Quaile

1 Mortimer Street

Birkenhead

Merseyside

CH41 5EU

FIXED ASSETS

Tangible assets

4

2,919

Investment property

5

791,000

793,919

CURRENT ASSETS

Cash at bank and in hand

17,505

1,365

CREDITORS

Amounts falling due within one year

6

185,370

186,305

NET CURRENT LIABILITIES

(167,865

)

(184,940

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

626,054

608,979

CREDITORS

Amounts falling due after more than one
year

7

519,818

499,070

NET ASSETS

106,236

109,909

CAPITAL AND RESERVES

Called up share capital

3

Revaluation reserve

9

111,021

Retained earnings

(4,788

)

(1,115

)

SHAREHOLDERS' FUNDS

106,236

109,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 2 April 2025 and were signed on its behalf by:

C T Connelly - Director

1.	STATUTORY INFORMATION

Visible Ventures 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2023

and 31 July 2024

2,919

NET BOOK VALUE

At 31 July 2024

2,919

At 31 July 2023

2,919

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2023

and 31 July 2024

791,000

NET BOOK VALUE

At 31 July 2024

791,000

At 31 July 2023

791,000

Fair value at 31 July 2024 is represented by:

£

Valuation in 2023

791,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.7.24

31.7.23

£

Cost

679,979

The investment property was valued on an open market basis on 26 March 2024 by the directors. .

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

Trade creditors

1,070

1,071

Amounts owed to associates

49,300

Taxation and social security

-

934

Other creditors

135,000

185,370

186,305

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.7.24

31.7.23

£

Bank loans

252,388

253,693

Other creditors

267,430

245,377

519,818

499,070

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

116,645

Kent Reliance

129,920

246,565

Repayable by instalments

Bank loans more 5 yr by instal

5,823

7,128

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.24

31.7.23

£

Bank loans

252,388

253,693

9.

RESERVES

Revaluation

reserve

£

At 1 August 2023

and 31 July 2024

111,021