Company Number: 12239841
VYBE RESOURCE GROUP LIMITED
REPORT OF THE DIRECTORS AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023
31 October 2023
PAGES FOR FILING WITH REGISTRAR
1
VYBE RESOURCE GROUP LIMITED
Company Information
Director
Mr Ben Davies
Company Number:
12239841
Registered Office:
6 Sandringham Way
Brierley Hill
West Midlands
DY5 3JR
Accountants:
Steve Smith FCA
(Chartered Accountants)
38 Timbertree Road
Cradley Heath
West Midlands B64 7LE
2
VYBE RESURCE GROUP LIMITED
Contents
Page
Balance sheet
Notes to the financial statements
4
5
3
VYBE RESOURCE GROUP LIMITED
BALANCE SHEET as at 31 October 2023
2023
2022
Notes
£
£
CALLED UP SHARE CAPITAL NOT PAID
100
100
CURRENT ASSETS
Debtors
3
18,961
17,287
Cash at bank
-
0
5,163
18,961
22,450
CREDITORS: Amounts falling due within one year
4
(2,860)
(6,738)
NET CURRENT ASSETS
16,101
15,712
TOTAL ASSETS LESS CURRENT LIABILITIES
16,201
15,812
CREDITORS: falling due after one year
5
(16,004)
(15,388)
NET ASSETS
197
424
CAPITAL AND RESERVES
Called-up equity share capital
6
100
100
Profit and loss account
97
324
SHAREHOLDERS FUNDS
197
424
For the year ended 31 October 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 accordance with section 476
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 in accordance with the special provisions of the small companies' regime of the Companies Act 2006
As permitted by s444(5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's Profit and Loss Account
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2024.
Mr Ben Davies
4
Director
5
VYBE RESOURCE GROUP LIMITED
Notes to the financial statements
For the year ended 31 October 2023
1.
General Information
The company is a private company limited by shares and is incorporated and domiciled in England.  The address of its registered office is 6 Sandringham Way, Brierley Hill, West Midlands DY5 3JR.
he company ceased trading on 1 September 2023.
The financial statements of Vybe Resource Group Limited have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A Small Entities of Financial Reporting Standard 102.  “The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland” (“FRS 102”) and the Companies Act 2006.
2.
Accounting Policies
Basis of preparation of financial statements
As the company has ceased to trade in the year the financial statements have not been prepared on the going concern basis, as this is no longer appropriate.  The financial statements have been prepared under the historical cost convention.
The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed below.
Turnover
Turnover comprises the invoiced value of services supplied by the company.
Cash Flow
The financial statements do not include a cash flow statement because the company, as a small reporting entity is exempt from the requirement to prepare such a statement.
Deferred taxation
Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax at a future date, at rates expected to apply when they crystallise based on current tax rates and legislation.  Timing differences arise from the inclusion of items of income and expenditure in the taxation computation in periods different from those in which they are included in the accounts.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered.  On the grounds of immateriality deferred tax assets and liabilities are not discounted.
6
VYBE RESOURCE GROUP LIMITED
Notes to the financial statements
For the year ended 31 October 2023 (continued)
3.
Debtors
2023
2022
£
£
Director's current account
18,961
17,287
18,961
17,287
4.
Creditors: amounts falling due within one year
2023
2022
£
Trade creditors
-
0
604
Bank loan
2,631
3,904
Bank overdraft
229
-
Accruals and deferred income
-
0
600
VAT
-
0
1,630
2,860
6,738
5.
Creditors: falling due after one year
2023
2022
£
£
Bank loan
16,004
15,388
6.
Share Capital
2023 & 2022
£
Authorised
100 Ordinary Equity shares of £1 each
Allotted, called up and full paid
100 Ordinary Equity Shares of £1 each
100
100
7.
Related Party Transactions
The Company is under the control of Mr Ben Davies who owns 70% of the equity share capital.
7
8
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