Viewpoint Organisation Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07054372 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

VIEWPOINT ORGANISATION GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W M Davies

D N Hopkins

SECRETARY:

W M Davies

REGISTERED OFFICE:

Gower House

4 Pant Y Blodau

Pencoed

Bridgend

CF35 6LX

REGISTERED NUMBER:

07054372 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Intangible assets

4

20,000

20,000

Tangible assets

5

32,308

39,169

Investments

6

66,668

66,668

118,976

125,837

CURRENT ASSETS

Debtors

7

956,572

934,929

Cash at bank

88

68

956,660

934,997

CREDITORS

Amounts falling due within one year

8

307,451

287,032

NET CURRENT ASSETS

649,209

647,965

TOTAL ASSETS LESS CURRENT LIABILITIES

768,185

773,802

CREDITORS

Amounts falling due after more than one year

9

(9,296

)

(12,684

)

PROVISIONS FOR LIABILITIES

(6,025

)

(6,025

)

NET ASSETS

752,864

755,093

CAPITAL AND RESERVES

Called up share capital

10

80,670

80,670

Share premium

11

6,000

6,000

Retained earnings

11

666,194

668,423

SHAREHOLDERS' FUNDS

752,864

755,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 7 December 2020 and were signed on its behalf by:

W M Davies - Director

1.	STATUTORY INFORMATION

Viewpoint Organisation 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.

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

Goodwill is the amount in connection with the issue of "A" Ordinary shares of £20,000.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

20,000

NET BOOK VALUE

At 31 March 2020

20,000

At 31 March 2019

20,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

688

57,122

36,082

93,892

Additions

-

-

1,530

1,530

At 31 March 2020

688

57,122

37,612

95,422

DEPRECIATION

At 1 April 2019

379

31,552

22,792

54,723

Charge for year

62

6,393

1,936

8,391

At 31 March 2020

441

37,945

24,728

63,114

NET BOOK VALUE

At 31 March 2020

247

19,177

12,884

32,308

At 31 March 2019

309

25,570

13,290

39,169

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2019

and 31 March 2020

57,122

DEPRECIATION

At 1 April 2019

and 31 March 2020

(18,752

)

NET BOOK VALUE

At 31 March 2020

75,874

At 31 March 2019

75,874

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

66,668

NET BOOK VALUE

At 31 March 2020

66,668

At 31 March 2019

66,668

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

155

Amounts owed by group undertakings

949,777

931,953

Other debtors

6,795

2,821

956,572

934,929

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

65,625

67,036

Hire purchase contracts

3,347

21,687

Trade creditors

26,363

16,067

Amounts owed to group undertakings

189,902

126,494

Taxation and social security

8,916

31,448

Other creditors

13,298

24,300

307,451

287,032

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

9,296

12,684

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

2

ordinary

1

2

2

20,000

A Ordinary

1

60,668

60,668

60,000

ordinary

1

20,000

20,000

80,670

80,670

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2019

668,423

6,000

674,423

Profit for the year

10,771

10,771

Dividends

(13,000

)

(13,000

)

At 31 March 2020

666,194

6,000

672,194

12.	CONTINGENT LIABILITIES

There were no contingent liabilities at 31 March 2020.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £13,000 (2019 - £4,000) were paid to the directors .

During the year the company entered into transactions with Related Companies of which Mr W M Davis and Mr D N Hopkins are directors. At the year end the overall balance due from reflated companies was £759,874 (2019 : £805,460.)

14.	ULTIMATE CONTROLLING PARTY

The Directors,Mr W M Davis and Mr D N Hopkins, control the company by virtue of a controlling interest of 100% of the issued ordinary share capital ( 50 % each).