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REGISTERED NUMBER: 12770812 (England and Wales)















Financial Statements

for the Year Ended 31 August 2023

for

VIVIFY VENUES LTD

VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIVIFY VENUES LTD

Company Information
for the Year Ended 31 August 2023







Directors: R J Teale
S M Lord





Registered office: Northern Assurance Buliding
9-21 Princess Street
Manchester
M2 4DN





Registered number: 12770812 (England and Wales)





Auditors: CLA Evelyn Partners Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

Balance Sheet
31 August 2023

2023 2022
as restated
Notes £    £    £    £   
Fixed assets
Tangible assets 5 14,418 6,975
Investments 6 92,593 92,593
107,011 99,568

Current assets
Debtors 7 56,419 100,836
Cash at bank 700,228 558,061
756,647 658,897
Creditors
Amounts falling due within one year 8 1,122,953 439,632
Net current (liabilities)/assets (366,306 ) 219,265
Total assets less current liabilities (259,295 ) 318,833

Capital and reserves
Called up share capital 10 2,231 2,000
Share premium 2,136,431 1,642,095
Retained earnings (2,397,957 ) (1,325,262 )
Shareholders' funds (259,295 ) 318,833

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





R J Teale - Director


VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

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


1. Statutory information

Vivify Venues 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.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the company's budget and future cashflows in making their assessment. Based on these assessments, the current resources available and the commitment from certain shareholders to provide support, if required, the Directors have concluded that it remains appropriate to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Vivify Venues Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Revenue is recognised when the letting takes place.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

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


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Share based payments
For equity settled share-based payments, the company measures the goods or services received, and the corresponding increase in equity, directly, at the fair value of the goods or services received. If the company cannot estimate the fair value of the goods or services received the company measures the their value by reference to the fair value of the equity instrument granted.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity, as a deduction, net of tax, from the proceeds.

4. Employees and directors

The average number of employees during the year was 227 (2022 - 55 ) .

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 September 2022 11,720
Additions 13,744
At 31 August 2023 25,464
Depreciation
At 1 September 2022 4,745
Charge for year 6,301
At 31 August 2023 11,046
Net book value
At 31 August 2023 14,418
At 31 August 2022 6,975

VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

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


6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 September 2022
and 31 August 2023 92,593
Net book value
At 31 August 2023 92,593
At 31 August 2022 92,593

7. Debtors: amounts falling due within one year
2023 2022
as restated
£    £   
Trade debtors 6,287 3,012
Amounts owed by group undertakings 27,841 49,999
Other debtors 22,291 47,825
56,419 100,836

8. Creditors: amounts falling due within one year
2023 2022
as restated
£    £   
Trade creditors 127,330 115,680
Taxation and social security 82,337 31,474
Other creditors 913,286 292,478
1,122,953 439,632

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year 10,200 -

VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812)

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


10. Called up share capital

Allotted, issued and fully paid
Number Class Nominal 2023 2022
Value £ £
90,000 Ordinary A £0.01 900 900
65,842 Ordinary B £0.01 658 543
10,010 Ordinary C £0.01 100 100
57,269 Ordinary D £0.01 573 457
2,231 2,000


11,555 B Ordinary Shares of £0.01 were allotted as fully paid at a premium of £22.49 per share during the year
11,554 D Ordinary shares of £0.01 were allotted as fully paid at a premium of £22.49 per share during the year.

The share premium account includes the premium on issue of equity share, net of any issue cost.

On 13 July 2023 share options were granted to purchase 30,000 shares for an exercise price of £0.01 exercisable for a period of 10 years when the performance conditions have been met.or on an exercise event.

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Angela Chorlton FCA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited

12. Related party disclosures

Included in creditors are amounts due to directors of £8,865 (2022 - £17,082). These amounts are interest free and repayable on demand.

During the year there were recharges of £190,730 (2022 - £nil) made to its subsidiary for services used and at the year end there was £27,841 (2022 - £49,999) due in other debtors.

13. Tax losses

The company has tax losses of £2,277,435 (2022 - £1,409,809) available to carry forward to future periods.