false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2018-02-01
Sage Accounts Production Advanced 2018 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
09961906
2018-02-01
2019-01-31
09961906
2019-01-31
09961906
2017-02-01
2018-01-31
09961906
2018-01-31
09961906
bus:RegisteredOffice
2018-02-01
2019-01-31
09961906
bus:LeadAgentIfApplicable
2018-02-01
2019-01-31
09961906
bus:Director1
2018-02-01
2019-01-31
09961906
bus:Director2
2018-02-01
2019-01-31
09961906
core:WithinOneYear
2019-01-31
09961906
core:WithinOneYear
2018-01-31
09961906
core:ShareCapital
2019-01-31
09961906
core:ShareCapital
2018-01-31
09961906
core:RetainedEarningsAccumulatedLosses
2019-01-31
09961906
core:RetainedEarningsAccumulatedLosses
2018-01-31
09961906
bus:SmallEntities
2018-02-01
2019-01-31
09961906
bus:AuditExemptWithAccountantsReport
2018-02-01
2019-01-31
09961906
bus:FullAccounts
2018-02-01
2019-01-31
09961906
bus:SmallCompaniesRegimeForAccounts
2018-02-01
2019-01-31
09961906
bus:PrivateLimitedCompanyLtd
2018-02-01
2019-01-31
COMPANY REGISTRATION NUMBER:
09961906
Filleted Unaudited Financial Statements
|
|
Year ended 31 January 2019
The directors present their report and the unaudited financial statements of the company for the year ended
31 January 2019
.
Directors
The directors who served the company during the year were as follows:
Mr C Mackenzie-Grieve
|
|
Mrs S Mackenzie-Grieve
|
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
20 October 2019
and signed on behalf of the board by:
Mr C Mackenzie-Grieve
|
Director
|
|
Registered office:
|
Romney Marford Hill
|
Marford
|
Wrexham
|
LL12 8TA
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Visible Projects Limited
|
|
Year ended 31 January 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Visible Projects Limited for the year ended 31 January 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Visible Projects Limited, as a body, in accordance with the terms of our engagement letter dated 12 May 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Visible Projects Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Visible Projects Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Visible Projects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Visible Projects Limited. You consider that Visible Projects Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Visible Projects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
FRANCIS GRAY CHARTERED ACCOUNTANTS
Chartered accountant
Ty Madog
32 Queens Road
Aberystwyth
Ceredigion
SY23 2HN
20 October 2019
Statement of Financial Position
|
|
31 January 2019
Current assets
Debtors
|
5
|
20,010
|
31,449
|
Cash at bank and in hand
|
34,599
|
7,328
|
|
--------
|
--------
|
|
54,609
|
38,777
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
40,770
|
38,514
|
|
--------
|
--------
|
Net current assets
|
13,839
|
263
|
|
--------
|
----
|
Total assets less current liabilities
|
13,839
|
263
|
|
--------
|
----
|
Net assets
|
13,839
|
263
|
|
--------
|
----
|
|
|
|
|
Capital and reserves
Called up share capital
|
10
|
10
|
Profit and loss account
|
13,829
|
253
|
|
--------
|
----
|
Shareholders funds
|
13,839
|
263
|
|
--------
|
----
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
20 October 2019
, and are signed on behalf of the board by:
Mr C Mackenzie-Grieve
|
Director
|
|
Company registration number:
09961906
Notes to the Financial Statements
|
|
Year ended 31 January 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Romney Marford Hill, Marford, Wrexham, LL12 8TA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2018:
2
).
5.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Trade debtors
|
17,160
|
24,180
|
Other debtors
|
2,850
|
7,269
|
|
--------
|
--------
|
|
20,010
|
31,449
|
|
--------
|
--------
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
1,334
|
977
|
Trade creditors
|
721
|
–
|
Corporation tax
|
19,862
|
29,917
|
Social security and other taxes
|
18,114
|
6,960
|
Other creditors
|
739
|
660
|
|
--------
|
--------
|
|
40,770
|
38,514
|
|
--------
|
--------
|
|
|
|
7.
Directors' advances, credits and guarantees
The directors account at year end stood at:(a) £79 (2018 - -£5,919); (b) no interest is charged on overdrawn balances; (c) the loan is repayable on demand; and (d) C Mackenzie-Greive confirms all amounts will be repaid within 9 months of the company year end.