Vision Valeting Specialists Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05534256 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

VISION VALETING SPECIALISTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

P J Barker

SECRETARY:

Mrs E R Barker

REGISTERED OFFICE:

78 Main Street

Carlton

Nuneaton

Warwickshire

CV13 0EZ

REGISTERED NUMBER:

05534256 (England and Wales)

ACCOUNTANTS:

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

9,892

1,720

9,892

1,720

CURRENT ASSETS

Debtors

6

2,263

1,034

Cash at bank

1,063

-

3,326

1,034

CREDITORS

Amounts falling due within one year

7

7,661

13,102

NET CURRENT LIABILITIES

(4,335

)

(12,068

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,557

(10,348

)

CREDITORS

Amounts falling due after more than one year

8

(15,000

)

-

PROVISIONS FOR LIABILITIES

(2,038

)

(326

)

NET LIABILITIES

(11,481

)

(10,674

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(11,483

)

(10,676

)

SHAREHOLDERS' FUNDS

(11,481

)

(10,674

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 December 2021 and were signed by:

P J Barker - Director

1.	STATUTORY INFORMATION

Vision Valeting Specialists 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, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of three 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2020

and 31 August 2021

8,000

AMORTISATION

At 1 September 2020

and 31 August 2021

8,000

NET BOOK VALUE

At 31 August 2021

-

At 31 August 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 September 2020

3,990

11,923

15,913

Additions

-

12,000

12,000

Disposals

-

(11,923

)

(11,923

)

At 31 August 2021

3,990

12,000

15,990

DEPRECIATION

At 1 September 2020

2,940

11,253

14,193

Charge for year

158

3,000

3,158

Eliminated on disposal

-

(11,253

)

(11,253

)

At 31 August 2021

3,098

3,000

6,098

NET BOOK VALUE

At 31 August 2021

892

9,000

9,892

At 31 August 2020

1,050

670

1,720

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

2,263

1,034

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

1,547

Trade creditors

185

1,134

Taxation and social security

5,648

8,055

Other creditors

1,828

2,366

7,661

13,102

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

15,000

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 August 2021, an amount of £0 (2020 £3) was due from/to the directors' which amount is included within debtors/creditors on the balance sheet.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is P J Barker.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vision Valeting Specialists Limited for the year ended 31 August 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Vision Valeting Specialists Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vision Valeting Specialists Limited and state those matters that we have agreed to state to the director of Vision Valeting Specialists Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Vision Valeting Specialists 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 Vision Valeting Specialists Limited. You consider that Vision Valeting Specialists 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 Vision Valeting Specialists 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.

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

9 December 2021