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Registered number: 04341788
VISION SUPPLIES LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
HAINES WATTS LEEDS LLP
CHARTERED ACCOUNTANTS
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VISION SUPPLIES LIMITED
REGISTERED NUMBER: 04341788
ABBREVIATED BALANCE SHEET
AS AT 30 JUNE 2016
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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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PROVISIONS FOR LIABILITIES
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Capital redemption reserve
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 June 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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VISION SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 JUNE 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 22 December 2016.
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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VISION SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
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The turnover shown in the profit and loss accounts represents amounts receivable during the year, exclusive of Value Added Tax.
 
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investments held as fixed assets are shown at cost less provision for impairment.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
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Leasing and hire purchase
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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Page 3
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VISION SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
1.ACCOUNTING POLICIES (continued)
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Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the profit and loss account.
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Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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Page 4
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VISION SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
2.TANGIBLE FIXED ASSETS
Page 5
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VISION SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
3.FIXED ASSET INVESTMENTS
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At 1 July 2015 and 30 June 2016
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Listed investments
The market value of the listed investments at 30 June 2016 was £840,833 (2015 - £869,781).
Subsidiary undertakings
The company holds 100% of the issued ordinary share capital of Registerprint Machinery Limited, a company incorporated in England and Wales.
The aggregate capital and reserves for Registerprint Machinery Limited as at 30 June 2016 was a deficit of £69,999 (2015: £91,522) and the profit for the period was £21,823 (2015: £60,337).
4.CREDITORS:
Amounts falling due within one year
Included within creditors due within one year is a balance of £11,495 (2015: £1,683), in respect of hire purchase contracts, which is secured by the company.
5.CREDITORS:
Amounts falling due after more than one year
Included within creditors due after more than one year is a balance of £Nil (2015: £11,494), in respect of hire purchase contracts, which is secured by the company.
6.TRANSACTIONS WITH THE DIRECTORS
Included within debtors is an amount of £135,280 (2015: £1,637) due from a director. The directors current account is unsecured and interest free. The maximum balance outstanding during the year was £135,280.
Page 6
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VISION SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
7.SHARE CAPITAL
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Allotted, called up and fully paid
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1,000 Ordinary shares of £1 each
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1,000 A Ordinary shares of £1 each
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The ordinary shares have attached to them full voting rights, varying dividend rights and capital distribution rights.
The 'A' ordinary shares have attached to them no voting rights, full dividend and capital distribution rights..
8.CONTROLLING PARTY
In the opinion of the directors there was no ultimate controlling party of the company.
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