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Reports Dated : 03/02/2025 Registered Number: 09106393
England and Wales

 

 

 

VIVID ADAPT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
As described in the balance sheet you are responsible for the preparation of the financial statements for the financial period ended 30 June 2024 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................

Vivid Adapt Ltd

St John's Innovation Centre,
Cowley Road,
Cambridge
CB4 0WS
03 February 2025
1
 
 
Notes
 
30/06/2024
£
  30/06/2023
£
Fixed assets      
Tangible fixed assets 4 1,977    2,260 
1,977    2,260 
Current assets      
Debtors: amounts falling due within one year 10,396    2,477 
Cash at bank and in hand 5,760    446 
16,156    2,923 
Creditors: amount falling due within one year (8,712)   (12,866)
Net current assets 7,444    (9,943)
 
Total assets less current liabilities 9,421    (7,683)
Net assets 9,421    (7,683)
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 9,419    (7,685)
Shareholders' funds 9,421    (7,683)
 



For the  period 30 June 2024 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 period ending  30 June 2024 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 03 February 2025 and were signed by:


-------------------------------
Nanyo Nanev
Director
2
General Information
Vivid Adapt Ltd is a private company, limited by shares, registered in England and Wales, registration number 09106393, registration address St John's Innovation Centre, Cowley Road, Cambridge, CB4 0WS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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% Straight Line
2.

Staff Costs

30/06/2024
£
  30/06/2023
£
Wages and salaries 124,830    25,881 
Social security costs 3,649   
Pension costs, defined contribution plan 1,468   
Other staff costs 794   
130,741    25,881 
 
Average number of employees during the year Number   Number
Research and development 4    2 
 


3.

Average number of employees


Average number of employees during the year was 4 (2023 : 2).
4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2023 6,831    6,831 
Additions  
Disposals (1,268)   (1,268)
At 30 June 2024 5,563    5,563 
Depreciation
At 01 July 2023 3,226    3,226 
Charge for year 1,276    1,276 
On disposals (916)   (916)
At 30 June 2024 3,586    3,586 
Net book values
Closing balance as at 30 June 2024 1,977    1,977 
Opening balance as at 01 July 2023 2,260    2,260 


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