REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Vivere XO Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Vivere XO Ltd. |
Vivere XO Ltd. (Registered number: SC527661) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Vivere XO Ltd. |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountant |
3 Maryfield Road |
Broughty Ferry |
DUNDEE |
Tayside |
DD5 2JJ |
Vivere XO Ltd. (Registered number: SC527661) |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Vivere XO Ltd. (Registered number: SC527661) |
Balance Sheet - continued |
29 February 2024 |
The financial statements were approved by the director and authorised for issue on |
Vivere XO Ltd. (Registered number: SC527661) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Vivere XO Ltd. is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from tour operations, luxury concierge services, corporate event experiences and consultancy. |
Turnover therefore represents income from these sources, excluding tour operations, measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes. |
Turnover from tour operations excludes discounts,rebates and other sales taxes but includes value added taxes, as do the related costs in connection with tour operations. |
Tangible fixed assets |
Tangible fixed assets held for the company's use are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their expected useful lives on a straight line basis at the rate of 20% per annum. |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered impairment. If any indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. |
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 balance sheet date. |
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. |
Vivere XO Ltd. (Registered number: SC527661) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Leasing commitments |
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charges to the profit and loss account as incurred. |
Going concern |
At the date of signing of these financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This has been assisted by the coronavirus bounce back loan, which was provided to finance the increase in demand for the company's services post covid. |
The director anticipates the services provided by the company will continue to be in demand for the foreseeable future. Therefore the director has adopted the going concern basis in the preparation of the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
Vivere XO Ltd. (Registered number: SC527661) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 2,649 | 6,180 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
29.2.24 | 28.2.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Other loans |
Amounts falling due between one and two years: |
Other loans - 1-2 years | 7,062 |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 2,649 | 6,180 |
The company received a coronavirus bounce back loan. The repayments commenced in 2022. |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023: |
29.2.24 | 28.2.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loan by the company to the director is repayable on demand and is interest free. |