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Registration number: 06331438

Visual Synergy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Visual Synergy Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Visual Synergy Limited

Company Information

Director

Mr ES Lewis

Company secretary

Mrs N Lewis

Registered office

125b Aston Clinton Road
Aylesbury
HP22 5AB

Accountants

DJM Accountants & Consultancy Limited
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

 

Visual Synergy Limited

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr ES Lewis

Principal activity

The principal activity of the company is designers and installers of audio visual products.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 May 2025
 

.........................................
Mr ES Lewis
Director

 

Visual Synergy Limited

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

4,556,614

3,961,871

Cost of sales

 

(3,226,976)

(2,351,180)

Gross profit

 

1,329,638

1,610,691

Administrative expenses

 

(1,168,083)

(1,271,307)

Other operating income

 

-

5,601

Operating profit

 

161,555

344,985

Interest payable and similar expenses

 

(1,950)

(1,626)

Profit before tax

159,605

343,359

Tax on profit

 

(53,981)

(76,553)

Profit for the financial year

 

105,624

266,806

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Visual Synergy Limited

(Registration number: 06331438)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

128,818

146,842

Current assets

 

Debtors

5

237,188

411,706

Cash at bank and in hand

 

795,363

594,611

 

1,032,551

1,006,317

Creditors: Amounts falling due within one year

6

(302,763)

(259,177)

Net current assets

 

729,788

747,140

Net assets

 

858,606

893,982

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

858,604

893,980

Shareholders' funds

 

858,606

893,982

For the financial year 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 May 2025
 

.........................................
Mr ES Lewis
Director

 

Visual Synergy Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

2

893,980

893,982

Profit for the year

-

105,624

105,624

Dividends

-

(141,000)

(141,000)

At 31 August 2024

2

858,604

858,606

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

2

728,324

728,326

Profit for the year

-

266,806

266,806

Dividends

-

(101,150)

(101,150)

At 31 August 2023

2

893,980

893,982

 

Visual Synergy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
125b Aston Clinton Road
Aylesbury
HP22 5AB

These financial statements were authorised for issue by the director on 29 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Visual Synergy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

25% Reducing balance method

Computer equipment

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Visual Synergy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2023 - 12).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

50,860

242,464

293,324

Additions

2,531

22,385

24,916

At 31 August 2024

53,391

264,849

318,240

Depreciation

At 1 September 2023

35,774

110,708

146,482

Charge for the year

4,405

38,535

42,940

At 31 August 2024

40,179

149,243

189,422

Carrying amount

At 31 August 2024

13,212

115,606

128,818

At 31 August 2023

15,086

131,756

146,842

 

Visual Synergy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

237,188

411,706

 

237,188

411,706

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

205,367

18,477

Taxation and social security

88,841

237,641

Accruals and deferred income

6,600

3,000

Other creditors

1,955

59

302,763

259,177

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2

       

8

Dividends

2024

2023

£

£

Interim dividend of £70,500.00 (2023 - £50,575.00) per ordinary share

141,000

101,150

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

 

Visual Synergy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Remuneration

12,000

12,000

Contributions paid to money purchase schemes

21,000

121,000

33,000

133,000

10

Parent and ultimate parent undertaking

The ultimate controlling party is E S Lewis.