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REGISTERED NUMBER: 09513624 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VIBE SYSTEMS LIMITED

VIBE SYSTEMS LIMITED (REGISTERED NUMBER: 09513624)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIBE SYSTEMS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mr M J Chapman
Mr P E Cook
Mr M E Cook





REGISTERED OFFICE: Falcon House
Primett Road
Stevenage
SG1 3EE





REGISTERED NUMBER: 09513624 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

VIBE SYSTEMS LIMITED (REGISTERED NUMBER: 09513624)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,117 78,437

CURRENT ASSETS
Debtors 5 832,313 551,068
Cash at bank 1,759,330 1,764,839
2,591,643 2,315,907
CREDITORS
Amounts falling due within one year 6 796,832 687,329
NET CURRENT ASSETS 1,794,811 1,628,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,870,928

1,707,015


CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,870,828 1,706,915
SHAREHOLDERS' FUNDS 1,870,928 1,707,015
1,870,928 1,707,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




Mr P E Cook - Director


VIBE SYSTEMS LIMITED (REGISTERED NUMBER: 09513624)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Vibe Systems Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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.

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.

VIBE SYSTEMS LIMITED (REGISTERED NUMBER: 09513624)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

- Fixtures and fittings - Straight line over 10 years
- Computer equipment - Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 3,534 275,636 279,170
Additions 4,406 40,792 45,198
At 31 March 2024 7,940 316,428 324,368
DEPRECIATION
At 1 April 2023 2,778 197,955 200,733
Charge for year 199 47,319 47,518
At 31 March 2024 2,977 245,274 248,251
NET BOOK VALUE
At 31 March 2024 4,963 71,154 76,117
At 31 March 2023 756 77,681 78,437

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 523,312 398,809
Other debtors 145,313 118,562
Tax 137,495 -
Prepayments and accrued income 26,193 33,697
832,313 551,068

VIBE SYSTEMS LIMITED (REGISTERED NUMBER: 09513624)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 40,973 482,228
Corporation tax 11,283 758
Taxation and social security 53,806 34,336
VAT 105,146 69,198
Other creditors 578,957 58,666
Accruals and deferred income 6,667 42,143
796,832 687,329

7. CALLED UP SHARE CAPITAL

Allocated, issued and fully paid

Number:

Class:
Nominal
Value:

2024

2023
£ £
9,250 Ordinary £0.01 92.50 100.00
750 Ordinary A £0.01 7.50 0.00
100.00 100.00

On 11 October 2023 100 Ordinary shares of £1 each were subdivided into 10,000 Ordinary shares of £0.01 each.

On 11 October 2023 750 Ordinary shares were reclassified into Ordinary A shares.

Ordinary shares have full voting, dividend and capital distribution rights.

Ordinary A shares have full dividend rights.

The directors may resolve to declare a dividend on one class of share and not the other.

8. CONTINGENT LIABILITIES

A debenture is held by the company's bank which includes fixed and floating charges over all present assets, freehold and leasehold property. First fixed and floating charges over all assets both present and future.