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Company Registration No. 13671628 (England and Wales)
LG Vision Limited Unaudited accounts for the year ended 31 October 2024
LG Vision Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
LG Vision Limited Company Information for the year ended 31 October 2024
Director
Liam Edward Gibson
Company Number
13671628 (England and Wales)
Registered Office
2 Cheddar Close Southampton SO19 2EZ England
Accountants
365 Accounts Ltd 44 Brookwood Road Southampton Hampshire SO16 9AJ
- 3 -
LG Vision Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
7,700 
8,800 
Tangible assets
5
10,104 
11,244 
17,804 
20,044 
Current assets
Inventories
11,975 
- 
Debtors
6
20,255 
20,386 
Cash at bank and in hand
11,579 
23,588 
43,809 
43,974 
Creditors: amounts falling due within one year
7
(61,598)
(63,749)
Net current liabilities
(17,789)
(19,775)
Net assets
15 
269 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
14 
268 
Shareholders' funds
15 
269 
For the year ending 31 October 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 April 2025 and were signed on its behalf by
Liam Edward Gibson Director Company Registration No. 13671628
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LG Vision Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
LG Vision Limited is a private company, limited by shares, registered in England and Wales, registration number 13671628. The registered office is 2 Cheddar Close, Southampton, SO19 2EZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance method
Computer equipment
33.33% Reducing balance method
Intangible fixed assets
Intangible fixed assets (including goodwill and patents) are included at cost less accumulated amortisation. These are amortised over their useful life which is 10 years on a straigh line basis
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
11,000 
At 31 October 2024
11,000 
Amortisation
At 1 November 2023
2,200 
Charge for the year
1,100 
At 31 October 2024
3,300 
Net book value
At 31 October 2024
7,700 
At 31 October 2023
8,800 
- 5 -
LG Vision Limited Notes to the Accounts for the year ended 31 October 2024
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
14,690 
945 
15,635 
Additions
- 
822 
822 
At 31 October 2024
14,690 
1,767 
16,457 
Depreciation
At 1 November 2023
4,076 
315 
4,391 
Charge for the year
1,592 
370 
1,962 
At 31 October 2024
5,668 
685 
6,353 
Net book value
At 31 October 2024
9,022 
1,082 
10,104 
At 31 October 2023
10,614 
630 
11,244 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
20,255 
20,386 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,241 
13,033 
Trade creditors
- 
856 
Taxes and social security
1,074 
1,491 
Other creditors
1,921 
- 
Loans from directors
54,362 
48,279 
Accruals
- 
90 
61,598 
63,749 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 6 -