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REGISTERED NUMBER: 05167237 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Vibe Centre Ltd

Vibe Centre Ltd (Registered number: 05167237)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Vibe Centre Ltd (Registered number: 05167237)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 10,000
Tangible assets 5 44,854 42,331
49,854 52,331

CURRENT ASSETS
Stocks 146,920 240,305
Debtors 6 536,399 514,952
Cash at bank and in hand 162,788 73,732
846,107 828,989
CREDITORS
Amounts falling due within one year 7 168,012 257,082
NET CURRENT ASSETS 678,095 571,907
TOTAL ASSETS LESS CURRENT LIABILITIES 727,949 624,238

CREDITORS
Amounts falling due after more than one year 8 - (4,381 )

PROVISIONS FOR LIABILITIES (10,431 ) (9,629 )
NET ASSETS 717,518 610,228

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 717,418 610,128
SHAREHOLDERS' FUNDS 717,518 610,228

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2025 and were signed by:



T Sabir - Director


Vibe Centre Ltd (Registered number: 05167237)

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

1. STATUTORY INFORMATION

Vibe Centre Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05167237

Registered office: 5 Salop Street
Bolton
BL2 1DZ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Goodwill
Goodwill is being written off in equal annual installments over its estimated economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Vibe Centre Ltd (Registered number: 05167237)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 25,000
AMORTISATION
At 1 August 2023 15,000
Amortisation for year 5,000
At 31 July 2024 20,000
NET BOOK VALUE
At 31 July 2024 5,000
At 31 July 2023 10,000

Vibe Centre Ltd (Registered number: 05167237)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 17,422 600 31,753
Additions - 13,500 1,308
At 31 July 2024 17,422 14,100 33,061
DEPRECIATION
At 1 August 2023 6,271 120 24,917
Charge for year 2,231 2,796 1,628
At 31 July 2024 8,502 2,916 26,545
NET BOOK VALUE
At 31 July 2024 8,920 11,184 6,516
At 31 July 2023 11,151 480 6,836

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 22,650 34,342 106,767
Additions - 1,393 16,201
At 31 July 2024 22,650 35,735 122,968
DEPRECIATION
At 1 August 2023 7,475 25,653 64,436
Charge for year 5,007 2,016 13,678
At 31 July 2024 12,482 27,669 78,114
NET BOOK VALUE
At 31 July 2024 10,168 8,066 44,854
At 31 July 2023 15,175 8,689 42,331

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 22,650
DEPRECIATION
At 1 August 2023 7,475
Charge for year 5,007
At 31 July 2024 12,482
NET BOOK VALUE
At 31 July 2024 10,168
At 31 July 2023 15,175

Vibe Centre Ltd (Registered number: 05167237)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 221,253 296,607
Amounts owed by group undertakings 193,639 186,603
Other debtors 121,507 31,742
536,399 514,952

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,381 8,762
Trade creditors 50,585 181,631
Taxation and social security 62,845 24,663
Other creditors 50,201 42,026
168,012 257,082

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 4,381

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 4,381 13,143