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Registered number: 11820362
Vivsurance Ltd
Financial Statements
For The Year Ended 28 February 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11820362
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,471,529 6,487,011
Investments 5 674,642 674,642
7,146,171 7,161,653
CURRENT ASSETS
Stocks 6 128,546 128,546
Debtors 7 29,939 29,938
Cash at bank and in hand 99 -
158,584 158,484
Creditors: Amounts Falling Due Within One Year 8 (20,400 ) (15,600 )
NET CURRENT ASSETS (LIABILITIES) 138,184 142,884
TOTAL ASSETS LESS CURRENT LIABILITIES 7,284,355 7,304,537
Creditors: Amounts Falling Due After More Than One Year 9 (7,347,926 ) (7,347,926 )
NET LIABILITIES (63,571 ) (43,389 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (63,572 ) (43,390 )
SHAREHOLDERS' FUNDS (63,571) (43,389)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr L Connolly
Director
28/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vivsurance Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11820362 . The registered office is Kemp House, 160 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 2.5%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2023 6,346,013 28,591 42,954 153,026 6,570,584
As at 28 February 2024 6,346,013 28,591 42,954 153,026 6,570,584
Depreciation
As at 1 March 2023 - 23,230 36,690 23,653 83,573
Provided during the period - 5,361 6,264 3,857 15,482
As at 28 February 2024 - 28,591 42,954 27,510 99,055
Net Book Value
As at 28 February 2024 6,346,013 - - 125,516 6,471,529
As at 1 March 2023 6,346,013 5,361 6,264 129,373 6,487,011
5. Investments
Other
£
Cost
As at 1 March 2023 674,642
As at 28 February 2024 674,642
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 674,642
As at 1 March 2023 674,642
6. Stocks
2024 2023
£ £
Stock 128,546 128,546
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 29,939 29,938
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 20,400 15,600
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 8,904,718 8,904,718
Amounts owed to participating interests (1,556,792 ) (1,556,792 )
7,347,926 7,347,926
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Lee Connolly 6,430 - - - 6,430
The above loan is unsecured, interest free and repayable on demand.
Page 5