REGISTERED NUMBER: 10621798 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Vision Upholstery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M P Harrison

Mrs S Harrison

REGISTERED OFFICE:

Kentish Farm

Delvin End

Silble Hedingham

HALSTEAD

Essex

CO9 3LN

REGISTERED NUMBER:

10621798 (England and Wales)

ACCOUNTANTS:

Simpson Accountancy Limited

Unit 6 Cherrytree Farm

Blackmore End Road

Sible Hedingham

Essex

CO9 3LZ

BANKERS:

Lloyds

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

62,696

73,119

62,696

73,119

CURRENT ASSETS

Stocks

2,200

2,100

Debtors

6

23,267

45,787

Cash at bank

28,780

36,991

54,247

84,878

CREDITORS

Amounts falling due within one year

7

106,830

113,107

NET CURRENT LIABILITIES

(52,583

)

(28,229

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,113

44,890

PROVISIONS FOR LIABILITIES

5,557

12,388

NET ASSETS

4,556

32,502

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

4,554

32,500

SHAREHOLDERS' FUNDS

4,556

32,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 30 October 2025 and were signed on its behalf by:

M P Harrison - Director

1.	STATUTORY INFORMATION

Vision Upholstery 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.

Turnover

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

Goodwill

During the 2018 year-end a customer list was aquired for £1,350, this is being amotised over a period of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

33% on cost, 25% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

1,350

AMORTISATION

At 1 March 2024

and 28 February 2025

1,350

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

118,515

Additions

12,495

At 28 February 2025

131,010

DEPRECIATION

At 1 March 2024

45,396

Charge for year

22,918

At 28 February 2025

68,314

NET BOOK VALUE

At 28 February 2025

62,696

At 29 February 2024

73,119

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,352

44,914

Other debtors

915

873

23,267

45,787

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,167

34,722

Trade creditors

40,035

54,064

Taxation and social security

18,633

20,480

Other creditors

18,995

3,841

106,830

113,107

8.

RESERVES

Retained

earnings

£

At 1 March 2024

32,500

Profit for the year

22,054

Dividends

(50,000

)

At 28 February 2025

4,554

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2024 - £60,000) were paid to the directors .

Interest of £244.28 was charged to the directors on their overdrawn accounts through the year.