Vibaweb (UK) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 11894189 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Vibaweb (UK) Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

B V Dixon

M J Perry

Registered office:

114-120 Northgate Street

Chester

CH1 2HT

Registered number:

11894189 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Intangible assets

4

3,500

10,500

Investments

5

128,528

71,347

132,028

81,847

Current assets

Debtors

6

24,217

2,866

Investments

7

4,794

Cash at bank

76,488

57,473

105,499

65,133

Creditors

Amounts falling due within one year

8

43,675

32,397

Net current assets

61,824

32,736

Total assets less current liabilities

193,852

114,583

Capital and reserves

Called up share capital

100

Retained earnings

193,752

114,483

193,852

114,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:

B V Dixon - Director

1.	Statutory information

Vibaweb (UK) Ltd 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Other investments

Other investments are stated at cost, less any provision for permanent diminution in value.

3.	Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4.	Intangible fixed assets

Computer

software

£

Cost

At 1 April 2022

and 31 March 2023

70,000

Amortisation

At 1 April 2022

59,500

Amortisation for year

7,000

At 31 March 2023

66,500

Net book value

At 31 March 2023

3,500

At 31 March 2022

10,500

5.	Fixed asset investments

Shares in

Other

subsidiaries

investments

Totals

£

Cost

At 1 April 2022

1,100

70,247

71,347

Additions

-

57,181

At 31 March 2023

1,100

127,428

128,528

Net book value

At 31 March 2023

1,100

127,428

128,528

At 31 March 2022

1,100

70,247

71,347

6.

Debtors: amounts falling due within one year

31/3/23

31/3/22

£

Other debtors

24,217

2,866

7.	Current asset investments

31/3/23

31/3/22

£

Other

4,794

8.

Creditors: amounts falling due within one year

31/3/23

31/3/22

£

Amounts owed to group undertakings

31,500

Taxation and social security

10,915

-

Other creditors

1,260

897

43,675

32,397

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23

31/3/22

£

B V Dixon

Balance outstanding at start of year

-

Amounts advanced

3,938

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,938

-

M J Perry

Balance outstanding at start of year

-

Amounts advanced

2,688

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

2,688

-

Loans to directors are unsecured, interest free and repayable on demand. The maximum balance outstanding during the year were £3,938 and £2,688 respectively.