0 28/08/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-08-28 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC780541 2023-08-28 2024-08-31 SC780541 2024-08-31 SC780541 2023-08-27 SC780541 bus:LeadAgentIfApplicable 2023-08-28 2024-08-31 SC780541 bus:Director1 2023-08-28 2024-08-31 SC780541 core:ShareCapital 2023-08-28 2024-08-31 SC780541 core:RetainedEarningsAccumulatedLosses 2023-08-28 2024-08-31 SC780541 core:AfterOneYear 2024-08-31 SC780541 core:ShareCapital 2024-08-31 SC780541 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC780541 core:PreviouslyStatedAmount core:ShareCapital 2024-08-31 SC780541 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-08-31 SC780541 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 SC780541 core:Non-currentFinancialInstruments 2024-08-31 SC780541 bus:SmallEntities 2023-08-28 2024-08-31 SC780541 bus:AuditExemptWithAccountantsReport 2023-08-28 2024-08-31 SC780541 bus:SmallCompaniesRegimeForAccounts 2023-08-28 2024-08-31 SC780541 bus:PrivateLimitedCompanyLtd 2023-08-28 2024-08-31 SC780541 bus:FullAccounts 2023-08-28 2024-08-31
Company registration number: SC780541
Vision Leisure Vehicles Ltd
Unaudited filleted financial statements
31 August 2024
Vision Leisure Vehicles Ltd
Contents
Director's responsibilities statement
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Vision Leisure Vehicles Ltd
Director's responsibilities statement
Period ended 31 August 2024
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial period. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Vision Leisure Vehicles Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Vision Leisure Vehicles Ltd
Period ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vision Leisure Vehicles Ltd for the period ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and 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 solely to the director of Vision Leisure Vehicles Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Vision Leisure Vehicles Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163- jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vision Leisure Vehicles Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Vision Leisure Vehicles Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vision Leisure Vehicles Ltd. You consider that Vision Leisure Vehicles Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Vision Leisure Vehicles Ltd. 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 statutory financial statements.
KFMCO Limited
Chartered Certified Accountants
52 Main Street
Ayr
Ayrshire
KA8 8EF
22 May 2025
Vision Leisure Vehicles Ltd
Statement of financial position
31 August 2024
31/08/24
Note £ £
Fixed assets
Investments 4 2,757,620
_________
2,757,620
Current assets
Cash at bank and in hand 1
_________
1
Net current assets 1
_________
Total assets less current liabilities 2,757,621
Creditors: amounts falling due
after more than one year 5 ( 404,705)
_________
Net assets 2,352,916
_________
Capital and reserves
Called up share capital 1
Profit and loss account 2,352,915
_________
Shareholder funds 2,352,916
_________
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr John Frew
Director
Company registration number: SC780541
Vision Leisure Vehicles Ltd
Statement of changes in equity
Period ended 31 August 2024
Called up share capital Profit and loss account Total
£ £ £
At 28 August 2023 - - -
Profit for the period 2,352,915 2,352,915
_______ _________ _________
Total comprehensive income for the period - 2,352,915 2,352,915
Issue of shares 1 1
_______ _________ _________
Total investments by and distributions to owners 1 - 1
_______ _________ _________
At 31 August 2024 1 2,352,915 2,352,916
_______ _________ _________
Vision Leisure Vehicles Ltd
Notes to the financial statements
Period ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Eldo House, Monkton Road, Prestwick, Ayrshire, KA9 2PB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
The investments relate to the purchase of 100% of the share capital of BC Motorhomes & Leisure Limited in December 2023.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 28 August 2023 - -
Additions 2,757,620 2,757,620
_________ _________
At 31 August 2024 2,757,620 2,757,620
_________ _________
Impairment
At 28 August 2023 and 31 August 2024 - -
_________ _________
Carrying amount
At 31 August 2024 2,757,620 2,757,620
_________ _________
The investments relate to the purchase of 100% of the share capital of BC Motorhomes & Leisure Limited in December 2023 , a trading company registered in Scotland at the same address as Vision Leisure Vehicles Limited.
5. Creditors: amounts falling due after more than one year
31/08/24
£
Other creditors 404,705
_______