Ceramic Vibes Ltd 11836890 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the marketing and production of ceramic and glass personalised gifts. Digita Accounts Production Advanced 6.30.9574.0 true 11836890 2022-03-01 2023-02-28 11836890 2023-02-28 11836890 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11836890 core:Non-currentFinancialInstruments 2023-02-28 11836890 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 11836890 core:OtherPropertyPlantEquipment 2023-02-28 11836890 bus:SmallEntities 2022-03-01 2023-02-28 11836890 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11836890 bus:FullAccounts 2022-03-01 2023-02-28 11836890 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11836890 bus:RegisteredOffice 2022-03-01 2023-02-28 11836890 bus:Director1 2022-03-01 2023-02-28 11836890 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11836890 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 11836890 countries:England 2022-03-01 2023-02-28 11836890 2022-02-28 11836890 core:OtherPropertyPlantEquipment 2022-02-28 11836890 2021-03-01 2022-02-28 11836890 2022-02-28 11836890 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11836890 core:Non-currentFinancialInstruments 2022-02-28 11836890 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 11836890 core:OtherPropertyPlantEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 11836890

Ceramic Vibes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Ceramic Vibes Ltd

(Registration number: 11836890)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,499

1,333

Current assets

 

Cash at bank and in hand

 

643

1,651

Creditors: Amounts falling due within one year

6

(6,663)

(6,064)

Net current liabilities

 

(6,020)

(4,413)

Total assets less current liabilities

 

(4,521)

(3,080)

Creditors: Amounts falling due after more than one year

6

(304)

-

Net liabilities

 

(4,825)

(3,080)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(4,827)

(3,082)

Shareholders' deficit

 

(4,825)

(3,080)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board for issue on 17 November 2023 and signed on its behalf by:
 

.........................................

Ms F J Pearce

Director

 

Ceramic Vibes Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Brooke Place
Water Lane
Woolsthorpe By Colsterworth
Grantham
Lincolnshire
NG33 5PD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% reducing balance

 

Ceramic Vibes Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Ceramic Vibes Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

1,747

1,747

Additions

386

386

At 28 February 2023

2,133

2,133

Depreciation

At 1 March 2022

414

414

Charge for the year

220

220

At 28 February 2023

634

634

Carrying amount

At 28 February 2023

1,499

1,499

At 28 February 2022

1,333

1,333

5

Debtors

Current

2023
£

2022
£

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

5,064

4,265

Other creditors

 

1,599

1,799

 

6,663

6,064

 

Ceramic Vibes Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

304

-

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

304

-