Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-31falseProduction for events3826truetrue 04423758 2022-03-31 2023-03-31 04423758 2021-03-31 2022-03-30 04423758 2023-03-31 04423758 2022-03-30 04423758 2021-03-31 04423758 c:Director2 2022-03-31 2023-03-31 04423758 d:PlantMachinery 2022-03-31 2023-03-31 04423758 d:PlantMachinery 2023-03-31 04423758 d:PlantMachinery 2022-03-30 04423758 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:MotorVehicles 2022-03-31 2023-03-31 04423758 d:MotorVehicles 2023-03-31 04423758 d:MotorVehicles 2022-03-30 04423758 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:FurnitureFittings 2022-03-31 2023-03-31 04423758 d:FurnitureFittings 2023-03-31 04423758 d:FurnitureFittings 2022-03-30 04423758 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:OfficeEquipment 2022-03-31 2023-03-31 04423758 d:OfficeEquipment 2023-03-31 04423758 d:OfficeEquipment 2022-03-30 04423758 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:ComputerEquipment 2022-03-31 2023-03-31 04423758 d:ComputerEquipment 2023-03-31 04423758 d:ComputerEquipment 2022-03-30 04423758 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:OwnedOrFreeholdAssets 2022-03-31 2023-03-31 04423758 d:LeasedAssetsHeldAsLessee 2022-03-31 2023-03-31 04423758 d:CurrentFinancialInstruments 2023-03-31 04423758 d:CurrentFinancialInstruments 2022-03-30 04423758 d:Non-currentFinancialInstruments 2023-03-31 04423758 d:Non-currentFinancialInstruments 2022-03-30 04423758 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04423758 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-30 04423758 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04423758 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-30 04423758 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04423758 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-30 04423758 d:ShareCapital 2023-03-31 04423758 d:ShareCapital 2022-03-30 04423758 d:RetainedEarningsAccumulatedLosses 2023-03-31 04423758 d:RetainedEarningsAccumulatedLosses 2022-03-30 04423758 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04423758 d:AcceleratedTaxDepreciationDeferredTax 2022-03-30 04423758 c:OrdinaryShareClass1 2022-03-31 2023-03-31 04423758 c:OrdinaryShareClass1 2023-03-31 04423758 c:FRS102 2022-03-31 2023-03-31 04423758 c:Audited 2022-03-31 2023-03-31 04423758 c:FullAccounts 2022-03-31 2023-03-31 04423758 c:PrivateLimitedCompanyLtd 2022-03-31 2023-03-31 04423758 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04423758 d:HirePurchaseContracts d:WithinOneYear 2022-03-30 04423758 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04423758 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-30 04423758 c:SmallCompaniesRegimeForAccounts 2022-03-31 2023-03-31 04423758 2 2022-03-31 2023-03-31 04423758 6 2022-03-31 2023-03-31 04423758 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 04423758 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-30 04423758 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-03-31 04423758 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-03-30 04423758 d:LeasedAssetsHeldAsLessee 2023-03-31 04423758 d:LeasedAssetsHeldAsLessee 2022-03-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04423758














VIBRATION GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

 
VIBRATION GROUP LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 11


 
VIBRATION GROUP LIMITED
REGISTERED NUMBER:04423758

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

31 March
30 March
2023
2022
Unaudited
Note
£
£

Fixed assets
  

Tangible assets
 4 
282,570
111,866

Investments
 5 
242,860
242,816

  
525,430
354,682

Current assets
  

Debtors: amounts falling due within one year
 6 
2,515,060
1,726,616

Cash at bank and in hand
  
1,507,419
2,949,607

  
4,022,479
4,676,223

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,926,438)
(2,798,001)

Net current assets
  
 
 
2,096,041
 
 
1,878,222

Total assets less current liabilities
  
2,621,471
2,232,904

Creditors: amounts falling due after more than one year
 8 
(424,729)
(587,089)

Provisions for liabilities
  

Deferred tax
 11 
(70,643)
(27,967)

Net assets
  
2,126,099
1,617,848


Capital and reserves
  

Called up share capital 
 12 
1,250
1,250

Profit and loss account
  
2,124,849
1,616,598

  
2,126,099
1,617,848


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

Page 1

 
VIBRATION GROUP LIMITED
REGISTERED NUMBER:04423758
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 January 2024.



S J Tracey
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Vibration Group Limited is a private limited liability company registered in England and Wales. Its registered office address is Acre House, 11-15 William Road, London, NW1 3ER. 
The company's principal activity is production services for events.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Foreign currency translation

The Company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of production services provided for events.
Turnover is recognised when the event takes place and it is possible that economic benefit will flow to the company. It is exclusive of Value Added Tax and trade discounts.

Page 3

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method.

 
2.10

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:

Plant and machinery
-
3-5 years straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
3-10 years straight line
Office equipment
-
3-5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.15

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand and loans with related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction cost price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash is represented by cash in hand and deposits with financial institutions. 


3.


Employees

The average monthly number of employees, including directors, during the period was 38 (2022 - 26).

Page 6

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost 


At 31 March 2022
999,343
-
103,888
172,888
-
1,276,119


Additions
123,769
32,850
14,245
49,389
24,146
244,399


Disposals
(982,221)
-
(18,105)
(19,824)
-
(1,020,150)



At 31 March 2023

140,891
32,850
100,028
202,453
24,146
500,368



Depreciation


At 31 March 2022
988,353
-
93,367
82,533
-
1,164,253


Charge for the period on owned assets
28,561
-
3,841
10,018
2,855
45,275


Charge for the period on financed assets
-
1,643
-
17,153
-
18,796


Disposals
(982,221)
-
(15,854)
(12,451)
-
(1,010,526)



At 31 March 2023

34,693
1,643
81,354
97,253
2,855
217,798



Net book value



At 31 March 2023
106,198
31,207
18,674
105,200
21,291
282,570



At 30 March 2022
10,990
-
10,521
90,355
-
111,866

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 March
30 March
2023
2022
£
£



Motor vehicles
31,207
-

Office equipment
58,103
75,255

89,310
75,255

Page 7

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Fixed asset investments








Investments in subsidiary companies
Investments in associates
Investment in joint ventures
Total

£
£
£
£



Cost or valuation


At 31 March 2022
61
150,755
92,000
242,816


Additions
41
3
-
44



At 31 March 2023
102
150,758
92,000
242,860





6.


Debtors

31 March
30 March
2023
2022
Unaudited
£
£


Trade debtors
194,513
411,092

Amounts owed by group undertakings
1,664,830
980

Amounts owed by joint ventures and associated undertakings
154,688
-

Other debtors
98,208
419,685

Prepayments and accrued income
402,821
894,859

2,515,060
1,726,616


Page 8

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

31 March
30 March
2023
2022
Unaudited
£
£

Bank loans
150,000
150,000

Trade creditors
221,303
934,540

Amounts owed to associated undertakings
18,031
-

Taxation and social security
35,400
205,580

Obligations under hire purchase contracts
41,695
33,482

Other creditors
42,901
17,731

Accruals and deferred income
1,417,108
1,456,668

1,926,438
2,798,001


The bank loan is secured by way of a fixed and floating charge over the assets of the company.
Obligations under hire purchase contracts are secured against the assets in the lease.


8.


Creditors: Amounts falling due after more than one year

31 March
30 March
2023
2022
Unaudited
£
£

Bank loans
375,000
525,000

Net obligations under hire purchase contracts
49,729
62,089

424,729
587,089


The bank loan is secured by way of a fixed and floating charge over the assets of the company.
Obligations under hire purchase contracts are secured against the assets in the lease.

Page 9

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


31 March
30 March
2023
2022
Unaudited
£
£

Amounts falling due within one year

Bank loans
150,000
150,000

Amounts falling due 1-2 years

Bank loans
375,000
525,000



525,000
675,000



10.


Hire purchase leases


Minimum lease payments under hire purchase fall due as follows:

31 March
30 March
2023
2022
Unaudited
£
£


Within one year
41,695
33,482

Between 1-5 years
49,729
62,089

91,424
95,571


11.


Deferred taxation






Period ended 31 March 2023
Year ended 30 March 2022
Unaudited


£

£






At beginning of year
27,967
24,505


Charged to profit or loss
42,676
3,462



At end of year
70,643
27,967

Page 10

 
VIBRATION GROUP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

31 March
30 March
2023
2022
Unaudited
£
£


Accelerated capital allowances
70,643
27,967


12.


Share capital

31 March
30 March
2023
2022
Unaudited
£
£
Allotted, called up and fully paid



1,250 Ordinary shares of £1 each
1,250
1,250



13.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £66,230 (2022 - £14,693). Contributions amounting to £14,598 (2022 - £6,715) were payable to the fund at the reporting date.


14.


Parent undertaking

The immediate and ultimate parent undertaking is Broadwick Group Limited, who acquired the company on 14 April 2022. Broadwick Group Limited is a company registered in England and Wales, with its registered office address at Acre House, 11-15 William Road, London, NW1 3ER.
Broadwick Group Limited prepares consolidated accounts, which are available from Companies House.


15.


Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2023 was unqualified.

The audit report was signed on 25 January 2024 by Martyn Atkinson FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 11