Vida Asset Management Ltd 08581091 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is money lending. Digita Accounts Production Advanced 6.30.9574.0 true true 08581091 2023-07-01 2024-06-30 08581091 2024-06-30 08581091 core:CurrentFinancialInstruments 2024-06-30 08581091 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08581091 bus:SmallEntities 2023-07-01 2024-06-30 08581091 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08581091 bus:FilletedAccounts 2023-07-01 2024-06-30 08581091 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08581091 bus:RegisteredOffice 2023-07-01 2024-06-30 08581091 bus:Director1 2023-07-01 2024-06-30 08581091 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08581091 countries:England 2023-07-01 2024-06-30 08581091 2022-07-01 2023-06-30 08581091 2023-06-30 08581091 core:CurrentFinancialInstruments 2023-06-30 08581091 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 08581091

Vida Asset Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Vida Asset Management Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Vida Asset Management Ltd

(Registration number: 08581091)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

285,600

900,000

Creditors: Amounts falling due within one year

5

(24,865)

(652,620)

Net assets

 

260,735

247,380

Capital and reserves

 

Called up share capital

104

104

Profit and loss account

260,631

247,276

Shareholders' funds

 

260,735

247,380

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 


S A Haith
Director

 

Vida Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Plym House,
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is money lending.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Vida Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

2024
£

2023
£

Trade debtors

285,600

900,000

285,600

900,000

 

Vida Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

21,851

36,413

Accruals and deferred income

2,640

2,520

Other creditors

374

613,687

24,865

652,620

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.