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REGISTERED NUMBER: 04296589 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Videocentric Limited

Videocentric Limited (Registered number: 04296589)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Videocentric Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr C A Brown
Mr D G Shimell





REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN





REGISTERED NUMBER: 04296589 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Videocentric Limited (Registered number: 04296589)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,189 1,931

CURRENT ASSETS
Stocks 54,517 56,480
Debtors 5 255,859 372,474
Cash at bank and in hand 27,598 93,033
337,974 521,987
CREDITORS
Amounts falling due within one year 6 (239,934 ) (369,124 )
NET CURRENT ASSETS 98,040 152,863
TOTAL ASSETS LESS CURRENT LIABILITIES 106,229 154,794

CREDITORS
Amounts falling due after more than one year 7 (19,097 ) (44,561 )

PROVISIONS FOR LIABILITIES (1,897 ) (300 )
NET ASSETS 85,235 109,933

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 75,235 99,933
85,235 109,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Videocentric Limited (Registered number: 04296589)

Balance Sheet - continued
30 September 2024


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 19 February 2025 and were signed on its behalf by:





Mr C A Brown - Director


Videocentric Limited (Registered number: 04296589)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Videocentric 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in aspect of the transaction can be measured reliably.

Revenue from the rendering of services is recognized when the services have been performed and the customer has received the benefits, provided the amount of revenue can be measured reliably, it is probable that the economic benefits will flow to the entity, and the costs incurred or to be incurred for the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Videocentric Limited (Registered number: 04296589)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Videocentric Limited (Registered number: 04296589)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 62,326
Additions 8,365
Disposals (11,898 )
At 30 September 2024 58,793
DEPRECIATION
At 1 October 2023 60,395
Charge for year 2,108
Eliminated on disposal (11,899 )
At 30 September 2024 50,604
NET BOOK VALUE
At 30 September 2024 8,189
At 30 September 2023 1,931

5. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors 167,879 278,239
Other debtors 71,480 77,735
239,359 355,974

Amounts falling due after more than one year:
Other debtors 16,500 16,500

Aggregate amounts 255,859 372,474

Videocentric Limited (Registered number: 04296589)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 25,462 25,463
Trade creditors 102,772 152,584
Taxation and social security 34,642 55,681
Other creditors 77,058 135,396
239,934 369,124

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 19,097 44,561

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 43,170 35,442
Between one and five years 43,769 65,250
86,939 100,692

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 44,559 70,024

The company received a UK Government backed loan under the Covid Business Interruption Loan (CBIL) Scheme in 2020. The capital element of the loan is due to be repaid by 66 monthly instalments commencing after the end of a capital repayment holiday of 6 months from the date of first drawdown. The interest for the first 12 months and fees were paid by the UK Government. Interest is charged on a floating rate basis under which the interest rate will never be less than the Margin of 2.7% per annum. The bank has received a guarantee from the UK Government under the scheme however a Debenture from the company is held by Barclays Security Trustee for the benefit of Barclays Bank PLC and the company remains responsible for repaying the whole of the loan.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are D Shimell and C Brown, directors and shareholders.