Midland Vision Ltd
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Notes to the Accounts |
for the year ended 31 March 2017
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover represents the value, net of (VAT) & discounts, carried out in respect of services provided to clients.
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Tangible fixed assets |
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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:
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Debtors |
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Debtors are carried at ooriginal invoice amoounts outstanding at the year end. Bad debts are written off when they are identified.
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Creditors |
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Creditors are carried at original invoice amounts not paid at the year end.
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Taxation |
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A current tax liability is recognised for the tax payable profit of the current period.
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2 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 April 2016 |
1,352 |
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At 31 March 2017 |
1,352 |
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Depreciation |
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At 1 April 2016 |
1,026 |
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Charge for the year |
243 |
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At 31 March 2017 |
1,269 |
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Net book value |
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At 31 March 2017 |
83 |
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At 31 March 2016 |
326 |
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3 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Other debtors |
34,927 |
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13,996 |
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4 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Corporation tax |
58,081 |
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39,401 |
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Other taxes and social security costs |
647 |
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304 |
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Other creditors |
11,237 |
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10,368 |
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69,965 |
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50,073 |
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5 |
Other information |
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Midland Vision Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Buttercross House |
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Heath Hill |
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Shifnal |
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Shropshire |
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TF11 8RW |
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6 |
Employees |
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2017 |
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2016 |
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Average numbers of persons employed by the company |
2 |
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2 |