Preview Visual Communications Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12013615 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PREVIEW VISUAL COMMUNICATIONS GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N S Broom

Ms A Tapponnier

REGISTERED OFFICE:

24 Victoria Way

BURGESS HILL

West Sussex

RH15 9NF

REGISTERED NUMBER:

12013615 (England and Wales)

ACCOUNTANTS:

Lang Bennetts

The Old Carriage Works

Moresk Road

TRURO

Cornwall

TR1 1DG

FIXED ASSETS

Tangible assets

4

20,497

4,194

CURRENT ASSETS

Debtors

5

158,705

10,512

Cash at bank

8,305

79,090

167,010

89,602

CREDITORS

Amounts falling due within one year

6

185,934

91,308

NET CURRENT LIABILITIES

(18,924

)

(1,706

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,573

2,488

PROVISIONS FOR LIABILITIES

1,453

510

NET ASSETS

120

1,978

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

20

1,878

120

1,978

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 20 December 2021 and were signed on its behalf by:

Ms A Tapponnier - Director

1.	STATUTORY INFORMATION

Preview Visual Communications Group Ltd 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.

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 etc

-

25% on cost and 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

26,257

Additions

20,559

Disposals

(556

)

At 31 March 2021

46,260

DEPRECIATION

At 1 April 2020

22,063

Charge for year

3,700

At 31 March 2021

25,763

NET BOOK VALUE

At 31 March 2021

20,497

At 31 March 2020

4,194

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

128,592

-

Other debtors

30,113

10,512

158,705

10,512

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

104,328

3,236

Taxation and social security

50,506

47,421

Other creditors

31,100

40,651

185,934

91,308

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2021 and the period ended 31 March 2020:

2021

2020

£

£

N S Broom

Balance outstanding at start of year

3,688

-

Amounts advanced

88,315

83,388

Amounts repaid

(92,003

)

(79,700

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,688

Ms A Tapponnier

Balance outstanding at start of year

3,249

-

Amounts advanced

88,315

85,547

Amounts repaid

(91,547

)

(82,298

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17

3,249

8.	RELATED PARTY DISCLOSURES

Preview Visual Communications Ltd is the sole shareholder of PVL UK Ltd and received £360,160 (2020: £230,000) for management, administration and other services during the year. The company also paid £86,713 (2020: £nil) for a recharge of wages costs from PVL Uk Ltd.

At the Balance sheet date, the company was owed £128,592 (2020: £nil) from PVL UK Ltd and owed PVL Uk Ltd £104,068 (2020: £nil)

Preview Visual Communications Ltd is the sole shareholder of Fangle Ltd and received £10,000 (2020: £2,400) for management, administration and other services during the year. At the Balance sheet date, the company was owed £15,400 (2020: £2,400) by Fangle Ltd.

Preview Visual Communications Ltd (PVC Ltd) is the sole shareholder of Preview Graphics Ltd and received £7,200 (2020: £7,200) for management, administration and other services during the year. At the Balance sheet date, the company was owed £14,400 (2020: £7,200) by PVC Ltd.

All transactions are considered to be at arms length.

9.	ULTIMATE CONTROLLING PARTY

Director's N Broom and A Tapponier are the ultimate controlling party, by virtue of their shareholding.