REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 August 2023 |
for |
VIVIFY VENUES LTD |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Auditors: |
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 |
Investments | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 10 |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
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 |
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 |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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 |
5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 September 2022 |
Additions |
At 31 August 2023 |
Depreciation |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
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 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
as | restated |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
as | restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
as | restated |
£ | £ |
Within one year |
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. |
for and on behalf of |
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. |