Invision Technology (UK) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07791302 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

INVISION TECHNOLOGY (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

M D Rodmell

Registered office:

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Registered number:

07791302 (England and Wales)

Accountants:

Haines Watts Manchester Limited

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Intangible assets

5

37,600

47,000

Tangible assets

6

37,493

51,738

75,093

98,738

Current assets

Stocks

964,237

1,214,293

Debtors

7

215,988

130,063

Cash at bank and in hand

1,259,814

747,496

2,440,039

2,091,852

Creditors

Amounts falling due within one year

8

302,254

449,870

Net current assets

2,137,785

1,641,982

Total assets less current liabilities

2,212,878

1,740,720

Provisions for liabilities

7,124

10,348

Net assets

2,205,754

1,730,372

Capital and reserves

Called up share capital

9

100

100

Retained earnings

2,205,654

1,730,272

Shareholders' funds

2,205,754

1,730,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 28 June 2018 and were signed by:

M D Rodmell - Director

1.	Statutory information

Invision Technology (UK) 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.	Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under the provisions of Section 1A

of FRS102 issued by the Financial Reporting Council.

The last financial statements for the year ended 30 September 2017 were prepared under previous UK GAAP,

and the transition date to FRS 102 is therefore 1 October 2016.

The adoption of FRS102 has not required any material changes to the accounting policies.

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

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line

basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following

the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may

not be recoverable.

Amortisation is provided on goodwill so as to write off the cost, less any estimated residual value, over its

expected useful economic life of ten 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.

Website

-

33% straight line

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% straight line

Computer equipment

-

30% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in

administrative expenses.

4.	Employees and directors

The average number of employees during the year was 9 (2016 - 7 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2016

and 30 September 2017

94,000

Amortisation

At 1 October 2016

47,000

Charge for year

9,400

At 30 September 2017

56,400

Net book value

At 30 September 2017

37,600

At 30 September 2016

47,000

6.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 October 2016

72,064

Additions

3,184

At 30 September 2017

75,248

Depreciation

At 1 October 2016

20,326

Charge for year

17,429

At 30 September 2017

37,755

Net book value

At 30 September 2017

37,493

At 30 September 2016

51,738

7.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

145,912

85,028

Other debtors

70,076

45,035

215,988

130,063

8.

Creditors: amounts falling due within one year

2017

2016

£

£

Bank loans and overdrafts

8

-

Trade creditors

24,112

36,083

Taxation and social security

264,245

136,112

Other creditors

13,889

277,675

302,254

449,870

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

M D Rodmell

Balance outstanding at start of year

-

20,678

Amounts advanced

16,113

1,838

Amounts repaid

-

(22,516

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,113

-

The advances and credits to the director are interest free and repayable on demand.

11.	Ultimate controlling party

The company is controlled by the director who owns 60% of the called up share capital.