VIDEO DESIGN LIMITED

VIDEO DESIGN LIMITED

VIDEO DESIGN LIMITED - Company Information

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VIDEO DESIGN LIMITED

Company Registration Number:
09370329 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2018

Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

VIDEO DESIGN LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet
Notes

VIDEO DESIGN LIMITED

Balance sheet

As at 31 December 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 824,198 804,286
Total fixed assets: 824,198 804,286
Current assets
Debtors:   168,052 103,750
Cash at bank and in hand: 453,750 443,590
Total current assets: 621,802 547,340
Creditors: amounts falling due within one year:   (278,928) (369,247)
Net current assets (liabilities): 342,874 178,093
Total assets less current liabilities: 1,167,072 982,379
Creditors: amounts falling due after more than one year:   (23,616) (50,627)
Total net assets (liabilities): 1,143,456 931,752
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 499,010 499,010
Profit and loss account: 643,446 431,742
Shareholders funds: 1,143,456 931,752

The notes form part of these financial statements

VIDEO DESIGN LIMITED

Balance sheet statements

For the year ending 31 December 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 January 2019
and signed on behalf of the board by:

Name: A P Leinster
Status: Director

The notes form part of these financial statements

VIDEO DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of the consideration received or receivable for the sale of goodsand provision of services in the ordinary course of the company’s activities. Turnover is shown net ofsales/value added tax, returns, rebates and discounts.The company recognises revenue when:The amount of revenue can be reliably measured;it is probable that future economic benefits will flow to the entity;and specific criteria have been met for each of the company's activities.

Tangible fixed assets and depreciation policy

Tangible assets are stated in the statement of financial position at cost, less any subsequentaccumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisitionand installation.DepreciationDepreciation is charged so as to write off the cost of assets, other than land and properties underconstruction over their estimated useful lives, as follows:Asset class Depreciation method and rateWarehouse equipment 20% reducing balanceHire stock 20% straight lineOffice equipment 33% straight line

Other accounting policies

LeasesLeases are classified as finance leases whenever the terms of the lease transfer substantially all therisks and rewards of ownership to the lessee.Assets held under finance leases are recognised at the lower of their fair value at inception of thelease and the present value of the minimum lease payments. These assets are depreciated on astraight-line basis over the shorter of the useful life of the asset and the lease term. Thecorresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.Lease payments are apportioned between finance costs in the Profit and Loss Account and reductionof the lease obligation so as to achieve a constant periodic rate of interest on the remaining balanceof the liability.

VIDEO DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

2. Employees

2018 2017
Average number of employees during the period 6 6

VIDEO DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

3. Tangible Assets

Total
Cost £
At 01 January 2018 1,214,284
Additions 243,332
At 31 December 2018 1,457,616
Depreciation
At 01 January 2018 409,998
Charge for year 223,420
At 31 December 2018 633,418
Net book value
At 31 December 2018 824,198
At 31 December 2017 804,286