Rural Vision Limited - Period Ending 2022-03-31
Rural Vision Limited - Period Ending 2022-03-31
Year Ended
Registration number:
Rural Vision Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Rural Vision Limited
Company Information
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Directors |
AW Fortescue SN Fowler OSE Davies PJ Tory PHM Durnford DA Holmes RA Kimber-Danger |
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Company secretary |
DA Holmes |
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Registered office |
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Bankers |
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Accountants |
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Rural Vision Limited
Balance Sheet
31 March 2022
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Note |
2022 |
2021 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Rural Vision Limited
Balance Sheet
31 March 2022
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 04660574
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors have considered the potential impact of the coronavirus pandemic on rental and other income streams and have reviewed the level of core overheads of the business, to determine if there is sufficient working capital to meet these requirements, along with scheduled borrowing repayments, for a period of at least twelve months from the date of approval of these financial statements. Following this review, based on the information available to date the directors are satisfied that the company has sufficient cash balances to meet these requirements and, accordingly, the directors continue to adopt the going concern basis of presentation.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised bty reference to the stafe of completion.
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold Property |
5% per annum straight line |
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Plant & Machinery |
33% per annum straight line |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
Straight line over 5 years |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bounce back loan
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except bank loan,such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are intially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Amortisation |
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At 1 April 2021 |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
- |
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Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
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Tangible assets |
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Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
- |
- |
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Debtors |
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2022 |
2021 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
64,738 |
91,997 |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
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Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
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2022 |
2021 |
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Loans and borrowings due after one year |
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Other borrowings |
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Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
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2022 |
2021 |
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Current loans and borrowings |
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Bank borrowings |
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- |
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Other borrowings |
- |
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Related party transactions |
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Advances to directors |
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2022 |
At 1 April 2021 |
Advances to director |
Repayments by director |
At 31 March 2022 |
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AW Fortescue |
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Interest free loan, repayable on demand |
(347) |
( |
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SN Fowler |
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Interest free loan, repayable on demand |
(2,013) |
( |
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OSE Davies |
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Interest free loan, repayable on demand |
12,750 |
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PJ Tory |
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Interest free loan, repayable on demand |
12,750 |
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PHM Durnford |
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Interest free loan, repayable on demand |
864 |
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DA Holmes |
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Interest free loan, repayable on demand |
(5,773) |
( |
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( |
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RA Kimber-Danger |
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Interest free loan, repayable on demand |
- |
( |
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( |
Rural Vision Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
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2021 |
At 1 April 2020 |
Advances to director |
Repayments by director |
At 31 March 2021 |
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AW Fortescue |
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Interest free loan, repayable on demand |
9,776 |
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SN Fowler |
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Interest free loan, repayable on demand |
8,110 |
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OSE Davies |
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Interest free loan, repayable on demand |
6,250 |
( |
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PJ Tory |
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Interest free loan, repayable on demand |
6,250 |
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PHM Durnford |
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Interest free loan, repayable on demand |
(1,399) |
( |
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DA Holmes |
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Interest free loan, repayable on demand |
(8,900) |
( |
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( |