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REGISTERED NUMBER: 02878130 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Vital Enterprises Limited
Trading as
FB Design

Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vital Enterprises Limited
Trading as FB Design

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D J Forrest
W K Aynsley





SECRETARY: D J Forrest





REGISTERED OFFICE: F B Design
The Old Granary Workshops
Herriard Park, Herriard
Basingstoke
Hampshire
RG25 2PL





REGISTERED NUMBER: 02878130 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,189 12,228

CURRENT ASSETS
Stocks 14,750 5,550
Debtors 5 41,343 33,480
Cash at bank and in hand 56,730 88,197
112,823 127,227
CREDITORS
Amounts falling due within one year 6 48,579 66,408
NET CURRENT ASSETS 64,244 60,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,433

73,047

CREDITORS
Amounts falling due after more than one
year

7

(14,241

)

(24,299

)

PROVISIONS FOR LIABILITIES 9 (639 ) (1,478 )
NET ASSETS 56,553 47,270

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 56,453 47,170
SHAREHOLDERS' FUNDS 56,553 47,270

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Balance Sheet - continued
31 December 2023


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 5 February 2024 and were signed on its behalf by:





D J Forrest - Director


Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Vital Enterprises Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Office equipment - 15% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 balance sheet date.


Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 56,791 1,535 58,326
DEPRECIATION
At 1 January 2023 45,791 307 46,098
Charge for year 4,732 307 5,039
At 31 December 2023 50,523 614 51,137
NET BOOK VALUE
At 31 December 2023 6,268 921 7,189
At 31 December 2022 11,000 1,228 12,228


Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 25,394 7,544
Other debtors 15,949 25,936
41,343 33,480

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,275 8,878
Taxation and social security 18,583 21,043
Other creditors 16,721 26,487
48,579 66,408

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,241 24,299

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 26,000 28,495
Between one and five years 2,167 28,167
28,167 56,662

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 639 1,478

Deferred
tax
£   
Balance at 1 January 2023 1,478
Accelerated capital allowances (839 )
Balance at 31 December 2023 639

Vital Enterprises Limited (Registered number: 02878130)
Trading as FB Design

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100