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REGISTERED NUMBER: 09949522 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Vibtek Ltd

Vibtek Ltd (Registered number: 09949522)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Vibtek Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M Gill





REGISTERED OFFICE: Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS





REGISTERED NUMBER: 09949522 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Vibtek Ltd (Registered number: 09949522)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 807 941
Tangible assets 6 1,856 2,038
2,663 2,979

CURRENT ASSETS
Debtors 7 7,883 19,225

CREDITORS
Amounts falling due within one year 8 (25,523 ) (21,254 )
NET CURRENT LIABILITIES (17,640 ) (2,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,977

)

950

PROVISIONS FOR LIABILITIES 9 (353 ) (387 )
NET (LIABILITIES)/ASSETS (15,330 ) 563

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (15,430 ) 463
SHAREHOLDERS' FUNDS (15,330 ) 563

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

Vibtek Ltd (Registered number: 09949522)

Statement of Financial Position - continued
31 January 2024



The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





M Gill - Director


Vibtek Ltd (Registered number: 09949522)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Vibtek 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
These accounts have been prepared on a going concern basis as the director has given assurances that he will continue to support the company for the foreseeable future.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Vibtek Ltd (Registered number: 09949522)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2023
and 31 January 2024 1,345
AMORTISATION
At 1 February 2023 404
Amortisation for year 134
At 31 January 2024 538
NET BOOK VALUE
At 31 January 2024 807
At 31 January 2023 941

6. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023 6,181 24,566 30,747
Additions - 349 349
At 31 January 2024 6,181 24,915 31,096
DEPRECIATION
At 1 February 2023 4,154 24,555 28,709
Charge for year 405 126 531
At 31 January 2024 4,559 24,681 29,240
NET BOOK VALUE
At 31 January 2024 1,622 234 1,856
At 31 January 2023 2,027 11 2,038

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 6,480
Other debtors 4,225 7,709
Tax 2,765 730
VAT 893 4,306
7,883 19,225

Vibtek Ltd (Registered number: 09949522)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 12,535 12,531
Trade creditors 4,963 4,968
Tax (30 ) 2,765
Other creditors 7,037 -
Accrued expenses 1,018 990
25,523 21,254

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 353 387

Deferred
tax
£   
Balance at 1 February 2023 387
Provided during year (34 )
Balance at 31 January 2024 353

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
M Gill
Balance outstanding at start of year 3,485 -
Amounts advanced - 3,485
Amounts repaid (3,485 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,485

12. ULTIMATE CONTROLLING PARTY

The controlling party is M Gill.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Vibtek Ltd (Registered number: 09949522)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vibtek Ltd for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Vibtek Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vibtek Ltd and state those matters that we have agreed to state to the director of Vibtek Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vibtek Ltd and its director for our work or for this report.

It is your duty to ensure that Vibtek Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Vibtek Ltd. You consider that Vibtek Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vibtek Ltd. 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 statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


28 October 2024