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Registered number: 04980925
Viper Recordings Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Viper Recordings Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Viper Recordings Limited for the year ended 30 November 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Viper Recordings Limited , as a body, in accordance with the terms of our engagement letter dated 12 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of Viper Recordings Limited and state those matters that we have agreed to state to the directors of Viper Recordings Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Viper Recordings Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Viper Recordings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Viper Recordings Limited . You consider that Viper Recordings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Viper Recordings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
ERC Accountants and Business Advisers Limited
14 August 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Balance Sheet
Registered number: 04980925
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,895 4,171
66,895 4,171
CURRENT ASSETS
Debtors 5 20,494 900
Cash at bank and in hand 132,481 141,121
152,975 142,021
Creditors: Amounts Falling Due Within One Year 6 (111,967 ) (46,859 )
NET CURRENT ASSETS (LIABILITIES) 41,008 95,162
TOTAL ASSETS LESS CURRENT LIABILITIES 107,903 99,333
Creditors: Amounts Falling Due After More Than One Year 7 (13,100 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,080 ) (835 )
NET ASSETS 88,723 98,498
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 88,719 98,494
SHAREHOLDERS' FUNDS 88,723 98,498
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss H E Lowe
Director
5 August 2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Viper Recordings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04980925 . The registered office is 16 Northmeade, Liverpool, Merseyside, L31 8DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold N/A
Plant and machinery - 33% straight line
Motor vehicles - 20% reducing balance
Fixtures and fittings - 33% straight line
Computer equipment - 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.8. Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the
cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Motor vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 December 2022 - 12,210 1,978 14,188
Additions 79,650 2,309 - 81,959
As at 30 November 2023 79,650 14,519 1,978 96,147
Depreciation
As at 1 December 2022 - 8,455 1,562 10,017
Provided during the period 15,930 3,222 83 19,235
As at 30 November 2023 15,930 11,677 1,645 29,252
Net Book Value
As at 30 November 2023 63,720 2,842 333 66,895
As at 1 December 2022 - 3,755 416 4,171
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor vehicles 63,720 -
63,720 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 19,594 -
Other debtors 900 900
20,494 900
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 6,550 -
Trade creditors 60,995 151
Other creditors 36,254 34,364
Taxation and social security 8,168 12,344
111,967 46,859
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 13,100 -
13,100 -
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,550 -
Later than one year and not later than five years 13,100 -
19,650 -
19,650 -
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
10. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.

11. Related Party Transactions
The following related party transactions were undertaken during the year:
During the period a director introduced capital totalling £156 (2022: £156) and withdrew amounts of £Nil (2022: £45,070). At the balance sheet date the total amounts owed to the directors totalled £32,639 (2022: £32,483).
During the period a director introduced capital totalling £156 (2022: £156) and withdrew amounts of £Nil (2022: £61,720). At the balance sheet date the total amounts owed to the directors totalled £361 (2022: £205).
Dividends were paid to the directors in respect of their shareholdings totalling £28,965 (2022: £44,000).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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