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Registered Number: 11102822
England and Wales

 

 

 

VIBE JEWELLERY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,179    1,385 
3,179    1,385 
Current assets      
Stocks 25,500    17,050 
Debtors 22,361    855 
Cash at bank and in hand 471,501    800,505 
519,362    818,410 
Creditors: amount falling due within one year (241,180)   (533,721)
Net current assets 278,182    284,689 
 
Total assets less current liabilities 281,361    286,074 
Provisions for liabilities (183)   (178)
Net assets 281,178    285,896 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 281,168    285,886 
Shareholders' funds 281,178    285,896 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 21 August 2024 and were signed by:


-------------------------------
Rahamathullah Ibrahim
Director
1
General Information
VIBE JEWELLERY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11102822, registration address The Switch, 1-7 The Grove, Slough, SL1 1QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2023 4,684    4,684 
Additions 3,503    3,503 
Disposals  
At 31 December 2023 8,187    8,187 
Depreciation
At 01 January 2023 3,299    3,299 
Charge for year 1,709    1,709 
On disposals  
At 31 December 2023 5,008    5,008 
Net book values
Closing balance as at 31 December 2023 3,179    3,179 
Opening balance as at 01 January 2023 1,385    1,385 


4.

Advances and Credits



Rahamathullah Ibrahim
Unsecured Directors loan of amount given by Rahamathullah Ibrahim in his own name, is interest free and subordinated in favour of third party creditors. The loan is repayable/renewable after 6 years.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Rahamathullah Ibrahim188,054 37,284 150,770 
188054003728400150770
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Rahamathullah Ibrahim246,833 58,779 188,054 
246833005877900188054
2