Company Registration No. 01956275 (England and Wales)
Binary Vision Limited
Unaudited accounts
for the year ended 31 January 2019
Binary Vision Limited
Unaudited accounts
Contents
Binary Vision Limited
Company Information
for the year ended 31 January 2019
Directors
Paul Norris
Rupert Bowater
Company Number
01956275 (England and Wales)
Registered Office
3rd Floor
23-24 Easton Street
London
WC1X 0DS
Accountants
Pearl Accounting Limited
Suite 1
116 Ballards Lane
Finchley
London
N3 2DN
Binary Vision Limited
Statement of financial position
as at 31 January 2019
Tangible assets
6,133
7,104
Cash at bank and in hand
37,177
48,505
Creditors: amounts falling due within one year
(83,982)
(73,626)
Net current assets/(liabilities)
3,666
(3,557)
Called up share capital
200
200
Profit and loss account
9,599
3,347
Shareholders' funds
9,799
3,547
For the year ending 31 January 2019 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.
Approved by the Board on 18 September 2019.
Paul Norris
Director
Company Registration No. 01956275
Binary Vision Limited
Notes to the Accounts
for the year ended 31 January 2019
Binary Vision Limited is a private company, limited by shares, registered in England and Wales, registration number 01956275. The registered office is 3rd Floor, 23-24 Easton Street, London, WC1X 0DS.
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.
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.
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.
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:
Fixtures & fittings
33% WDV
Computer equipment
33% WDV
Binary Vision Limited
Notes to the Accounts
for the year ended 31 January 2019
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2018
42,740
30,495
73,235
At 31 January 2019
43,570
31,290
74,860
At 1 February 2018
41,916
24,215
66,131
Charge for the year
447
2,149
2,596
At 31 January 2019
42,363
26,364
68,727
At 31 January 2019
1,207
4,926
6,133
At 31 January 2018
824
6,280
7,104
Trade debtors
42,212
5,644
Accrued income and prepayments
8,259
14,420
6
Creditors: amounts falling due within one year
2019
2018
Trade creditors
20,575
22,622
Taxes and social security
22,423
20,370
Other creditors
11,922
13,791
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £18,489 (2018: £2,459).
Binary Vision Limited
Notes to the Accounts
for the year ended 31 January 2019
9
Operating lease commitments
2019
2018
At 31 January 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
40,000
40,000
Within two to five years
155,836
160,000
More than five years
-
35,836
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Transactions with related parties
During the year directors of Binary Vision Ltd withdrew £0 (2018: £27,088) from the company and loaned £124 (2018: £95) to the company. As at the balance sheet date Binary Vision Limited owed £7,336 (2018: £9,212) to the directors.
11
Average number of employees
During the year the average number of employees was 7 (2018: 7).
