Vision Fibre Media Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08003317 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

VISION FIBRE MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Ratcliffe

I J Ratcliffe

REGISTERED OFFICE:

Silvaco Technology Centre

Compass Point Business Park

Stocks Bridge Way

St Ives

Cambridgeshire

PE27 5JL

REGISTERED NUMBER:

08003317 (England and Wales)

ACCOUNTANT:

HW Huntingdon Limited

2a Chequers Court

Huntingdon

PE29 3LJ

FIXED ASSETS

Tangible assets

3

294,283

309,952

CURRENT ASSETS

Stocks

28,441

49,652

Debtors

4

47,222

22,320

Cash at bank

191,883

79,268

267,546

151,240

CREDITORS

Amounts falling due within one year

5

33,186

16,278

NET CURRENT ASSETS

234,360

134,962

TOTAL ASSETS LESS CURRENT LIABILITIES

528,643

444,914

CREDITORS

Amounts falling due after more than one year

6

654,879

612,036

NET LIABILITIES

(126,236

)

(167,122

)

CAPITAL AND RESERVES

Called up share capital

7

600

600

Retained earnings

(126,836

)

(167,722

)

SHAREHOLDERS' FUNDS

(126,236

)

(167,122

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 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 Board of Directors on 20 July 2018 and were signed on its behalf by:

I J Ratcliffe - Director

1.	STATUTORY INFORMATION

Vision Fibre Media 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

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and have also been consistently applied within the same

accounts.

Compliance with accounting standards

These financial statements have been prepared in accordance with the provisions of Section 1A "Smaller

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" and the Companies Act 2006.

There were no material departures from that standard.

Transition to FRS 102

These financial statements for the year ended 31 March 2018 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 April 2017.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting

policies to those used previously, however there has been no material impact on the financial statements.

First year adoption

The company has adopted FRS 102 for the first time in the year ended 31 March 2018.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies.

- changes in shareholders funds.

- comparative year profit or loss.

On that basis, no restatement has been undertaken.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value

added taxes.

Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

have transferred to the buyer.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to

the total estimated contract costs.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment

losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write

off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery - Site installations 10% straight line

Plant and machinery - Subscriber installations 25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in

the period in which the related revenue is recognised.

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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment

losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price

including any transaction costs and subsequently measured at amortised cost determined using the effective

interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other

financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently

measured at amortised cost determined using the effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the

reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the

obligation and the amount of the obligation can be estimated reliably.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

451,315

Additions

69,546

At 31 March 2018

520,861

DEPRECIATION

At 1 April 2017

141,363

Charge for year

85,215

At 31 March 2018

226,578

NET BOOK VALUE

At 31 March 2018

294,283

At 31 March 2017

309,952

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

9,447

15,740

Amounts owed by group undertakings

281

281

Other debtors

7,757

6,138

Directors' current accounts

-

161

Deferred tax asset

29,737

-

47,222

22,320

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

10,809

317

VAT

5,958

4,548

Other creditors

16,369

11,202

Directors' current accounts

50

211

33,186

16,278

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

654,879

612,036

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

90

Ordinary A

£1

90

90

10

Ordinary B

£1

10

10

500,000

Preference

£0.00

1

500

500

600

600

8.	RELATED PARTY DISCLOSURES

Included in debtors is an amount owed by the director, Mrs S Ratcliffe, of £nil (2017: £161).

Included in creditors is an amount owed to the director, Mr I J Ratcliffe, of £50 (2017: £211). This loan is

interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The controlling parties are Mr I J & Mrs S Ratcliffe by virtue of their shareholdings.