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Company Registration No. 12452820 (England and Wales)
Vivid Iov Labs Ltd Unaudited accounts for the year ended 28 February 2023
Vivid Iov Labs Ltd Unaudited accounts Contents
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Vivid Iov Labs Ltd Company Information for the year ended 28 February 2023
Directors
Mr G J Hannam Mr I R Iwumene Mr B C Marshall Mr Y Song
Company Number
12452820 (England and Wales)
Registered Office
Innovation Labs Wharfside House Stowmarket IP14 1RD
Accountants
Townley & Co Limited Warrington Business Centre 67 Bewsey Street Warrington WA2 7JQ
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Vivid Iov Labs Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
18,299 
58,405 
Cash at bank and in hand
46,199 
4,874 
64,498 
63,279 
Creditors: amounts falling due within one year
(40,844)
(16,822)
Net current assets
23,654 
46,457 
Net assets
23,654 
46,457 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
23,644 
46,447 
Shareholders' funds
23,654 
46,457 
For the year ending 28 February 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 9 October 2023 and were signed on its behalf by
Mr B C Marshall Director Company Registration No. 12452820
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Vivid Iov Labs Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Vivid Iov Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 12452820. The registered office is Innovation Labs, Wharfside House, Stowmarket, IP14 1RD.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover
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 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.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
5,349 
- 
Amounts falling due after more than one year
Other debtors
12,950 
58,405 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
- 
9,432 
Loans from directors
2,630 
1,825 
Accruals
1,008 
1,008 
Deferred income
37,206 
4,557 
40,844 
16,822 
6
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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