REGISTERED NUMBER: 06644021 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MIDVISION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr R M Bettison

Mr D Sayers

SECRETARIES:

Mrs S K Bettison

Mrs A J Sayers

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

06644021 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

49,266

64,607

Investments

5

2,656,115

1,800,529

2,705,381

1,865,136

CURRENT ASSETS

Debtors

6

518,153

692,803

Cash at bank

3,763,571

2,520,283

4,281,724

3,213,086

CREDITORS

Amounts falling due within one year

7

(690,608

)

(414,346

)

NET CURRENT ASSETS

3,591,116

2,798,740

TOTAL ASSETS LESS CURRENT LIABILITIES

6,296,497

4,663,876

PROVISIONS FOR LIABILITIES

8

(12,317

)

(16,201

)

NET ASSETS

6,284,180

4,647,675

CAPITAL AND RESERVES

Called up share capital

9

10,272

10,272

Capital redemption reserve

1,679

1,679

Retained earnings

6,272,229

4,635,724

SHAREHOLDERS' FUNDS

6,284,180

4,647,675

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 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.

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 1 September 2025 and were signed on its behalf by:

Dr R M Bettison - Director

Mr D Sayers - Director

1.	STATUTORY INFORMATION

Midvision 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.

Turnover

Turnover represents net invoiced sale of goods, services, licences and support, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

Fixed asset investments

Fixed asset investments are shown at cost at the year end.

Group financial statements

The financial statements present information about the company as an individual undertaking and not about its group. The company has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

186,340

21,970

208,310

DEPRECIATION

At 1 January 2024

127,381

16,322

143,703

Charge for year

14,740

601

15,341

At 31 December 2024

142,121

16,923

159,044

NET BOOK VALUE

At 31 December 2024

44,219

5,047

49,266

At 31 December 2023

58,959

5,648

64,607

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2024

1,800,529

Additions

1,001,981

Disposals

(146,395

)

At 31 December 2024

2,656,115

NET BOOK VALUE

At 31 December 2024

2,656,115

At 31 December 2023

1,800,529

Cost or valuation at 31 December 2024 is represented by:

Listed

investments

£

Valuation in 2022

(16,621

)

Valuation in 2023

41,887

Cost

2,630,849

2,656,115

The company holds investments with Interactive Brokers which are recognised in the financial statements at cost. The cost of these investments at the reporting date is £2,256,115 (2023: £1,775,263).

The market value of these investments as at 31 December 2024 was £3,035,633 (2023: £1,800,529).

The directors are of the opinion that the difference between cost and market value represents unrealised gains which have not been recognised in the financial statements.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

488,363

642,285

Other debtors

29,790

50,518

518,153

692,803

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

148,757

119,533

Taxation and social security

524,075

252,133

Other creditors

17,776

42,680

690,608

414,346

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

12,317

16,201

Deferred

tax

£

Balance at 1 January 2024

16,201

Credit to Income Statement during year

(3,884

)

Balance at 31 December 2024

12,317

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

5,137

Ordinary-A

£1

5,137

5,137

5,135

Ordinary-B

£1

5,135

5,135

10,272

10,272

10.	PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the directors and employees. Amounts charged to the profit and loss account were £185,650 (2023: £206,450). There were no outstanding employer contributions at the balance sheet date.