Company registration number 11082391 (England and Wales)
VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
485,434
485,434
Current assets
Debtors
4
265,542
215,894
Cash at bank and in hand
76,998
80,576
342,540
296,470
Creditors: amounts falling due within one year
5
(401,804)
(330,734)
Net current liabilities
(59,264)
(34,264)
Total assets less current liabilities
426,170
451,170
Creditors: amounts falling due after more than one year
6
(425,000)
(450,000)
Net assets
1,170
1,170
Capital and reserves
Called up share capital
99
99
Profit and loss reserves
1,071
1,071
Total equity
1,170
1,170

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr A Hirst
Director
Company registration number 11082391 (England and Wales)
VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Vyta Health Limited (formally Bigvits Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 3 Maclaren House, Skerne Road, Driffield, England, YO25 6PN.

1.1
Reporting period

The comparative period covers the 13 month period from 1 December 2020 to 31 December 2021 and therefore the amounts presented (including the related notes) are not entirely comparable. The accounting reference date was changed to December so that it was in line with that of other group companies.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
3
2
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
485,434
485,434
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
265,443
215,795
Other debtors
99
99
265,542
215,894

Amounts owed by group undertakings are unsecured, interest free, have no fixed repayment date and are repayable on demand.

5
Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
401,804
330,734

Amounts owed by group undertakings are unsecured, interest free, have no fixed repayment date and are repayable on demand.

6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
425,000
450,000

Other creditors relate to a Director's loan account and a loan from ATP Turbines Limited, a related party.

 

Director's loans are interest bearing and due for repayment no earlier than 1st December 2023.

 

The loan from ATP Turbines Limited is interest bearing and due for repayment no earlier than 1st December 2023.

VYTA HEALTH LIMITED (FORMALLY BIGVITS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
7
Related party transactions

Included in creditors falling due after more than one year are loans owed by the company to related parties. Other than the payment of interest and a repayment of £25,000, no transactions on the loans have been made during the year.

 

1. Loan from a director/shareholder - Loan balance carried forward from previous year of £100,000. During the year interest was paid on the loan of £8,000 (2021 - £10,000). No further transactions recorded. The balance at 31 December 2022 was £100,000 (2021 - £100,000).


2. Loan from ATP Turbines Limited, a company which is a shareholder of Vyta Health Limited - Loan balance carried forward from the previous year of £350,000. During the year interest was paid on the loan of £38,997 (2021 - £34,405), and a repayment of £25,000 (2021 - £50,000) made. The balance of the loan at 31 December 2022 was £325,000 (2021 - £350,000).

 

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with wholly owned subsidiaries within the group.

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