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REGISTERED NUMBER: 08161499 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

VIKFIX LTD

VIKFIX LTD (REGISTERED NUMBER: 08161499)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VIKFIX LTD

COMPANY INFORMATION
For The Year Ended 31 JULY 2023







DIRECTOR: V Vitiv





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 08161499 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

VIKFIX LTD (REGISTERED NUMBER: 08161499)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 405,000 427,500
Tangible assets 5 3,131 3,684
408,131 431,184

CURRENT ASSETS
Stocks 402,100 -
Debtors 6 577,057 164,451
Cash at bank and in hand 193,111 1,337,717
1,172,268 1,502,168
CREDITORS
Amounts falling due within one year 7 264,842 605,943
NET CURRENT ASSETS 907,426 896,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,315,557

1,327,409

CREDITORS
Amounts falling due after more than one
year

8

80,744

133,333
NET ASSETS 1,234,813 1,194,076

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 450,000 450,000
Retained earnings 784,713 743,976
SHAREHOLDERS' FUNDS 1,234,813 1,194,076

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VIKFIX LTD (REGISTERED NUMBER: 08161499)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





V Vitiv - Director


VIKFIX LTD (REGISTERED NUMBER: 08161499)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2023

1. STATUTORY INFORMATION

Vikfix Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives

Plant and machinery - 15% Reducing Bal Method
Motor vehicles - 20% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


VIKFIX LTD (REGISTERED NUMBER: 08161499)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 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 statement of financial position date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 450,000
AMORTISATION
At 1 August 2022 22,500
Charge for year 22,500
At 31 July 2023 45,000
NET BOOK VALUE
At 31 July 2023 405,000
At 31 July 2022 427,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2022
and 31 July 2023 4,334
DEPRECIATION
At 1 August 2022 650
Charge for year 553
At 31 July 2023 1,203
NET BOOK VALUE
At 31 July 2023 3,131
At 31 July 2022 3,684

VIKFIX LTD (REGISTERED NUMBER: 08161499)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 30,102 17,045
Amounts owed by group undertakings 469,250 69,700
Other debtors 77,705 77,706
577,057 164,451

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 75,560 59,094
Trade creditors 22,582 40,349
Taxation and social security 147,906 374,501
Other creditors 18,794 131,999
264,842 605,943

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 80,744 133,333

9. CROSS GUARANTEE

The company has provided a security charged on its assets and shares for a loan contracted by a connected company.

10. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £58,462 (2022: 58,462) due from director upon which interest is charged at 2% and 2.25% during the year.

Included in other debtors is an amount of 469,250 (2022: 69,700) due from a connected company with common directorship and shareholding. The loan is interest free and repayable on demand.