IRIS Accounts Production v25.1.3.33 03665740 director 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036657402023-12-31036657402024-12-31036657402024-01-012024-12-31036657402022-12-31036657402023-01-012023-12-31036657402023-12-3103665740ns15:EnglandWales2024-01-012024-12-3103665740ns14:PoundSterling2024-01-012024-12-3103665740ns10:Director12024-01-012024-12-3103665740ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103665740ns10:SmallEntities2024-01-012024-12-3103665740ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3103665740ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103665740ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103665740ns10:FullAccounts2024-01-012024-12-3103665740ns10:CompanySecretary12024-01-012024-12-3103665740ns10:RegisteredOffice2024-01-012024-12-3103665740ns5:CurrentFinancialInstruments2024-12-3103665740ns5:CurrentFinancialInstruments2023-12-3103665740ns5:Non-currentFinancialInstruments2024-12-3103665740ns5:Non-currentFinancialInstruments2023-12-3103665740ns5:ShareCapital2024-12-3103665740ns5:ShareCapital2023-12-3103665740ns5:RetainedEarningsAccumulatedLosses2024-12-3103665740ns5:RetainedEarningsAccumulatedLosses2023-12-3103665740ns5:PlantMachinery2024-01-012024-12-3103665740ns5:FurnitureFittings2023-12-3103665740ns5:MotorVehicles2023-12-3103665740ns5:ComputerEquipment2023-12-3103665740ns5:FurnitureFittings2024-01-012024-12-3103665740ns5:MotorVehicles2024-01-012024-12-3103665740ns5:ComputerEquipment2024-01-012024-12-3103665740ns5:FurnitureFittings2024-12-3103665740ns5:MotorVehicles2024-12-3103665740ns5:ComputerEquipment2024-12-3103665740ns5:FurnitureFittings2023-12-3103665740ns5:MotorVehicles2023-12-3103665740ns5:ComputerEquipment2023-12-3103665740ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3103665740ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-012024-12-3103665740ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-12-3103665740ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3103665740ns5:CostValuation2023-12-3103665740ns5:RevaluationsIncreaseDecreaseInInvestments2024-12-3103665740ns5:CostValuation2024-12-3103665740ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-12-3103665740ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31036657401ns10:Director12023-12-31036657401ns10:Director12022-12-31036657401ns10:Director12024-01-012024-12-31036657401ns10:Director12023-01-012023-12-31036657401ns10:Director12024-12-31036657401ns10:Director12023-12-31
REGISTERED NUMBER: 03665740 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Visuality Group Limited

Visuality Group Limited (Registered number: 03665740)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Visuality Group Limited

Company Information
for the year ended 31 December 2024







DIRECTOR: A Nunan





SECRETARY: Ms D Peacock





REGISTERED OFFICE: Unit 18 46 The Calls
Leeds
West Yorkshire
LS2 7EY





REGISTERED NUMBER: 03665740 (England and Wales)





ACCOUNTANTS: Marshall & Co
Chartered Accountants
& Chartered Tax Advisers
The Bloc
Springfield Way
Anlaby
Kingston upon Hull
East Yorkshire
HU10 6RJ

Visuality Group Limited (Registered number: 03665740)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 48,271 60,606
Investments 5 350,000 125,000
398,271 185,606

CURRENT ASSETS
Stocks 2,193 17,492
Debtors 6 201,547 386,686
Cash in hand 80 -
203,820 404,178
CREDITORS
Amounts falling due within one year 7 428,777 435,502
NET CURRENT LIABILITIES (224,957 ) (31,324 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,314

154,282

CREDITORS
Amounts falling due after more than one year 8 (129,882 ) (128,723 )

PROVISIONS FOR LIABILITIES - (11,515 )
NET ASSETS 43,432 14,044

CAPITAL AND RESERVES
Called up share capital 30,800 30,800
Retained earnings 12,632 (16,756 )
SHAREHOLDERS' FUNDS 43,432 14,044

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Visuality Group Limited (Registered number: 03665740)

Balance Sheet - continued
31 December 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 director and authorised for issue on 11 July 2025 and were signed by:





A Nunan - Director


Visuality Group Limited (Registered number: 03665740)

Notes to the Financial Statements
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Visuality Group 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.

While the company has adopted Section 1A for presentation and disclosure purposes, it has elected to apply the fair value option under FRS 102 Section 14 for its investment in a subsidiary. This is permitted under FRS 102, provided the fair value can be measured reliably.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investments in subsidiaries
Investments in subsidiaries are initially measured at cost and subsequently measured at fair value through profit or loss. Fair value is determined using appropriate valuation techniques, including earnings-based methods where applicable.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Visuality Group Limited (Registered number: 03665740)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 25,632 63,000 198,424 287,056
Additions - - 2,559 2,559
At 31 December 2024 25,632 63,000 200,983 289,615
DEPRECIATION
At 1 January 2024 19,023 45,183 162,244 226,450
Charge for year 1,322 4,455 9,117 14,894
At 31 December 2024 20,345 49,638 171,361 241,344
NET BOOK VALUE
At 31 December 2024 5,287 13,362 29,622 48,271
At 31 December 2023 6,609 17,817 36,180 60,606

Visuality Group Limited (Registered number: 03665740)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 33,500
DEPRECIATION
At 1 January 2024 21,276
Charge for year 3,017
At 31 December 2024 24,293
NET BOOK VALUE
At 31 December 2024 9,207
At 31 December 2023 12,224

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2024 125,000
Revaluations 225,000
At 31 December 2024 350,000
NET BOOK VALUE
At 31 December 2024 350,000
At 31 December 2023 125,000

Cost or valuation at 31 December 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2022 120,008
Valuation in 2024 225,000
Cost 4,992
350,000

Visuality Group Limited (Registered number: 03665740)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


5. FIXED ASSET INVESTMENTS - continued

During the year, the company revalued its investment in its subsidiary, Visuality Group APS, to fair value. The revaluation was undertaken as part of a periodic review of the carrying value of investments.

The fair value was determined using a market-based valuation technique, specifically a multiple of maintainable EBITDA. The resulting fair value of the investment was assessed to be £350,000 as at 31st December 2024.

The revaluation surplus of £225,000, representing the difference between the previous carrying amount and the revalued amount, has been recognised in the profit and loss account in accordance with the company’s accounting policy for investments in subsidiaries.

Management applied judgment in determining the maintainable level of EBITDA and selecting an appropriate multiple based on comparable market data and entity-specific factors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,400 328,384
Amounts owed by group undertakings - 503
Other debtors 178,147 57,799
201,547 386,686

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 33,836 50,422
Hire purchase contracts - 1,496
Trade creditors 32,918 70,271
Amounts owed to group undertakings 49,933 -
Taxation and social security 211,788 218,218
Other creditors 100,302 95,095
428,777 435,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 129,882 128,723

Visuality Group Limited (Registered number: 03665740)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
A Nunan
Balance outstanding at start of year 50,462 8,000
Amounts advanced 42,267 42,462
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 92,729 50,462