Company Registration No. 10203127 (England and Wales)
ONE VISION LABORATORY LIMITED
Unaudited accounts
for the year ended 31 January 2023
ONE VISION LABORATORY LIMITED
Unaudited accounts
Contents
ONE VISION LABORATORY LIMITED
Company Information
for the year ended 31 January 2023
Directors
Rebecca Louise Heron
Liam Martin Mcgee
Company Number
10203127 (England and Wales)
Registered Office
5 SHADWELL WALK
LEEDS
WEST YORKSHIRE
LS17 6EQ
UNITED KINGDOM
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
ONE VISION LABORATORY LIMITED
Statement of financial position
as at 31 January 2023
Tangible assets
28,702
27,254
Cash at bank and in hand
13,224
70
Creditors: amounts falling due within one year
(224,755)
(119,058)
Net current assets
100,685
59,924
Total assets less current liabilities
129,387
87,178
Creditors: amounts falling due after more than one year
(15,510)
(26,042)
Provisions for liabilities
Deferred tax
(5,453)
(7,094)
Called up share capital
1,000
1,000
Profit and loss account
107,424
53,042
Shareholders' funds
108,424
54,042
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2024 and were signed on its behalf by
Rebecca Louise Heron
Director
Company Registration No. 10203127
ONE VISION LABORATORY LIMITED
Notes to the Accounts
for the year ended 31 January 2023
ONE VISION LABORATORY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10203127. The registered office is 5 SHADWELL WALK, LEEDS, WEST YORKSHIRE, LS17 6EQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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 also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
ONE VISION LABORATORY LIMITED
Notes to the Accounts
for the year ended 31 January 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
50,043
624
50,667
At 31 January 2023
60,480
624
61,104
At 1 February 2022
23,207
206
23,413
Charge for the year
8,989
-
8,989
At 31 January 2023
32,196
206
32,402
At 31 January 2023
28,284
418
28,702
At 31 January 2022
26,836
418
27,254
Amounts falling due within one year
Trade debtors
185,207
9,519
Amounts due from group undertakings etc.
118,009
160,393
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
13,120
Obligations under finance leases and hire purchase contracts
9,808
8,595
Trade creditors
71,007
23,333
Amounts owed to group undertakings and other participating interests
87,120
59,866
Taxes and social security
10,488
1,515
ONE VISION LABORATORY LIMITED
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
15,510
25,209
8
Deferred taxation
2023
2022
Accelerated capital allowances
5,453
7,094
Provision at start of year
7,094
7,094
Credited to the profit and loss account
(1,641)
-
Provision at end of year
5,453
7,094
Allotted, called up and fully paid:
1,000 Ordinary A shares of £1 each
1,000
1,000
10
Transactions with related parties
At the balance sheet date £118,009 (2022 - £160,393) was owed by a connected companies and £87,120 (2022 - £59,866) was owed to connected companies.
During the year £14,400 (2022: £12,000) was paid in rent to a connected company.
One Vision Laboratory Limited is a wholly owned subsidiary of One Vision Holdings Limited, a company registered in England and Wales.
The registered office of the Holding Company is 5 Shadwell Walk, Leeds, West Yorkshire, United Kingdom, LS17 6EQ.
12
Average number of employees
During the year the average number of employees was 2 (2022: 3).