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Company No: 10461699 (England and Wales)

VIVA LA VIDA HAIR & BEAUTY LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

VIVA LA VIDA HAIR & BEAUTY LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

VIVA LA VIDA HAIR & BEAUTY LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
VIVA LA VIDA HAIR & BEAUTY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 9,680 12,320
Tangible assets 4 191 131
9,871 12,451
Current assets
Stocks 2,219 2,430
Debtors 5 2,364 3
Cash at bank and in hand 5,067 3,374
9,650 5,807
Creditors: amounts falling due within one year 6 ( 38,658) ( 26,252)
Net current liabilities (29,008) (20,445)
Total assets less current liabilities (19,137) (7,994)
Creditors: amounts falling due after more than one year 7 ( 5,479) ( 12,656)
Net liabilities ( 24,616) ( 20,650)
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account ( 24,618 ) ( 20,652 )
Total shareholders' deficit ( 24,616) ( 20,650)

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Viva La Vida Hair & Beauty Ltd (registered number: 10461699) were approved and authorised for issue by the Board of Directors on 06 March 2025. They were signed on its behalf by:

L R Andrew
Director
VIVA LA VIDA HAIR & BEAUTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
VIVA LA VIDA HAIR & BEAUTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Viva La Vida Hair & Beauty Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1a Chelford Grove, Patchway, Bristol, BS34 6DD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2023 26,400 26,400
At 31 August 2024 26,400 26,400
Accumulated amortisation
At 01 September 2023 14,080 14,080
Charge for the financial year 2,640 2,640
At 31 August 2024 16,720 16,720
Net book value
At 31 August 2024 9,680 9,680
At 31 August 2023 12,320 12,320

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 September 2023 6,285 493 6,778
Additions 0 167 167
At 31 August 2024 6,285 660 6,945
Accumulated depreciation
At 01 September 2023 6,255 392 6,647
Charge for the financial year 30 77 107
At 31 August 2024 6,285 469 6,754
Net book value
At 31 August 2024 0 191 191
At 31 August 2023 30 101 131

5. Debtors

2024 2023
£ £
Trade debtors 2,364 3

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 6,771 6,594
Trade creditors 12,375 6,068
Amounts owed to associates 8,828 1,047
Amounts owed to directors 5,559 3,159
Accruals 3,200 3,225
Other taxation and social security 1,730 5,955
Other creditors 195 204
38,658 26,252

Bank loans of £6,771 (2023: £6,594) shown above are secured by way of fixed and floating charge over the assets of the company.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 5,479 12,656

Bank loans of £5,479 (2023: £12,656) shown above are secured by way of fixed and floating charge over the assets of the company.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 195 204

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed to company's under common control 8,828 1,047

The loan is interest free and has no fixed date for repayment.

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 5,559 3,159

The loan is interest free and has no fixed date for repayment.