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REGISTERED NUMBER: 10873663 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Vivida Lifestyle Ltd

Vivida Lifestyle Ltd (Registered number: 10873663)






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


Vivida Lifestyle Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J D Harris-Burland





REGISTERED OFFICE: 3 Sheen Road
Richmond Upon Thames
Richmond
TW9 1AD





REGISTERED NUMBER: 10873663 (England and Wales)





ACCOUNTANTS: Cansdales Business Advisers Limited
St Mary's Court
The Broadway
Old Amersham
Buckinghamshire
HP7 0UT

Vivida Lifestyle Ltd (Registered number: 10873663)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 3 102,343 119,050
Tangible assets 4 1,505 3,352
103,848 122,402

CURRENT ASSETS
Stocks 135,959 171,995
Debtors 5 83,094 55,769
Cash at bank 1,262 208
220,315 227,972
CREDITORS
Amounts falling due within one year 6 (352,461 ) (396,721 )
NET CURRENT LIABILITIES (132,146 ) (168,749 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,298

)

(46,347

)

CREDITORS
Amounts falling due after more than one year 7 (190,350 ) (234,482 )
NET LIABILITIES (218,648 ) (280,829 )

CAPITAL AND RESERVES
Called up share capital 8 129 122
Share premium 9 1,251,439 968,945
Retained earnings 9 (1,470,216 ) (1,249,896 )
SHAREHOLDERS' FUNDS (218,648 ) (280,829 )

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 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.

Vivida Lifestyle Ltd (Registered number: 10873663)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





J D Harris-Burland - Director


Vivida Lifestyle Ltd (Registered number: 10873663)

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

1. 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.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include there valuation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be ensured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

GOODWILL
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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.

Patents and licences(Website development) are being amortised evenly over their estimated useful life of 2 years.

Vivida Lifestyle Ltd (Registered number: 10873663)

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

1. ACCOUNTING POLICIES - continued

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 - 33% on cost
Computer equipment - 33% on cost
Furniture and Fittings- 33% on cost

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

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 balance sheet date.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

Vivida Lifestyle Ltd (Registered number: 10873663)

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

3. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023 197,886 35,563 233,449
Additions - 8,486 8,486
At 31 December 2023 197,886 44,049 241,935
AMORTISATION
At 1 January 2023 87,399 27,000 114,399
Amortisation for year 19,789 5,404 25,193
At 31 December 2023 107,188 32,404 139,592
NET BOOK VALUE
At 31 December 2023 90,698 11,645 102,343
At 31 December 2022 110,487 8,563 119,050

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 607 10,245 10,852
Additions - 1,347 1,347
Disposals - (2,015 ) (2,015 )
At 31 December 2023 607 9,577 10,184
DEPRECIATION
At 1 January 2023 266 7,234 7,500
Charge for year 200 2,180 2,380
Eliminated on disposal - (1,201 ) (1,201 )
At 31 December 2023 466 8,213 8,679
NET BOOK VALUE
At 31 December 2023 141 1,364 1,505
At 31 December 2022 341 3,011 3,352

Vivida Lifestyle Ltd (Registered number: 10873663)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,488 3,407
Other debtors 76,606 52,362
83,094 55,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,869 34,887
Trade creditors 131,527 143,000
Taxation and social security 44,604 62,758
Other creditors 135,461 156,076
352,461 396,721

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 39,766 46,426
Other creditors 150,584 188,056
190,350 234,482

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 years 11,392 18,753

Bounce Back Loan of £50,000 was provided at an interest rate of 2.5%. It will be repaid in 60 Equal monthly installments starting from January 2022.

Consolidated Working Capital loan was provided at an interest rate of 7%. It will be repaid in 17 equal monthly installments starting from November 2024 as per the revised agreement..

Neil Stephen Miller Working Capital Loan of £35,000 was provided at an interest rate of 7%.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12,003 Ordinary Shares £0.01 129 122

Vivida Lifestyle Ltd (Registered number: 10873663)

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

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 (1,249,896 ) 968,945 (280,951 )
Deficit for the year (220,320 ) (220,320 )
Cash share issue - 282,494 282,494
At 31 December 2023 (1,470,216 ) 1,251,439 (218,777 )

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J D Harris-Burland
Balance outstanding at start of year - -
Amounts advanced 12,496 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,496 -

11. RELATED PARTY DISCLOSURES

Loan is borrowed from Relative of Director John David Harris Burland, balance of which as on period ended 31.12.2023 is as follows:

(1) From Catharine Helen Harris Burland (Mother)
Consolidated Working Capital Loan - £130,995 (2022 - £138,056)