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REGISTERED NUMBER: 02076721 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Period 1 April 2023 to 30 March 2024

for

Viva Enterprises Limited

Viva Enterprises Limited (Registered number: 02076721)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Viva Enterprises Limited

Company Information
for the Period 1 April 2023 to 30 March 2024







DIRECTORS: D Dangoor
Mrs N Dangoor
R Dangoor


REGISTERED OFFICE: 245-247 Cricklewood Broadway
London
NW2 6NY


REGISTERED NUMBER: 02076721 (England and Wales)


SENIOR STATUTORY AUDITOR: Michael Marcus FCA FCCA


AUDITORS: TC Group
Statutory Auditor
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX


BANKERS: Barclays
75 King Street
Hammersmith
London
W6 9HY

Viva Enterprises Limited (Registered number: 02076721)

Strategic Report
for the Period 1 April 2023 to 30 March 2024

The directors present their strategic report for the period 1 April 2023 to 30 March 2024.

REVIEW OF BUSINESS
The company's turnover decreased to £13,944,559 as compared to £14,060,172 (2023). Profit before tax has decreased to £1,280,332 as compared to £2,258,587 (2023).

PRINCIPAL RISKS AND UNCERTAINTIES
The company's operations expose it to a variety of financial risks including competition/exchange rate risk, price risk, credit risk and liquidity risk. There are a number of controls in place to limit the adverse effects of these risks on the financial performance of the company:

Competition/Exchange Rate Risk

Like all companies carrying out similar activities, the company is subject to strong competition from larger companies in the same trade and this may affect the gross margin achieved from its sales. As a result, the company has established good relationship with its suppliers in the Far East to purchase goods at lower prices to enable to complete with its large competitors.

As a result of increasing its purchases from the Far East, the company is exposed to the risk of currency fluctuation as most of its goods are priced in US dollars. The directors are aware of this risk but are confident that the company has sufficient cash flow to finance its purchases.

Price Risk


The company is exposed to general price risk as a result of its operations. Management keep this aspect of the company's affairs under constant review.

Credit Risk

Credit is only offered to companies after references have been taken up and an appropriate level reached depending on the customers trading history.

Liquidity Risk

The company ensure there are sufficient funds available to operate. Cash flow forecasts are prepared, monitored and adjusted when necessary as part of this process.

Legal Risk

The company, from time to time, can be exposed to legal claims. The company will ensure adequate procedures and policies are implemented and legal advisors deployed to ensure that the risk of litigation is mitigated and managed accordingly.


Viva Enterprises Limited (Registered number: 02076721)

Strategic Report
for the Period 1 April 2023 to 30 March 2024

KEY PERFORMANCE INDICATORS
The Directors consider the following as key performance indicators



2024

2023


£

£

Turnover

13,944,559

14,060,172

Gross Profit

6,142,686

6,179,056

Profit before tax

1,280,332

2,258,587

Net Assets

26,277,063

26,156,999

ON BEHALF OF THE BOARD:





R G Dangoor - Director


8 April 2025

Viva Enterprises Limited (Registered number: 02076721)

Report of the Directors
for the Period 1 April 2023 to 30 March 2024

The directors present their report with the financial statements of the company for the period 1 April 2023 to 30 March 2024.

DIVIDENDS
During the year the company paid dividends of £820,000.

FUTURE DEVELOPMENTS
The company continues to explore opportunities for growth in terms of organic development and the company is well placed to take advantage of all opportunities that may arise.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

D Dangoor
Mrs N Dangoor
R Dangoor

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, TC Group, will be automatically re-appointed.

ON BEHALF OF THE BOARD:





R G Dangoor - Director


8 April 2025

Report of the Independent Auditors to the Members of
Viva Enterprises Limited

Opinion
We have audited the financial statements of Viva Enterprises Limited (the 'company') for the period ended 30 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 March 2024 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty Related to Going Concern
We draw attention to Note 20 in the financial statements, which indicates that the company is involved in litigation which could have a material impact on the company if the action is lost. As stated in Note 21, this litigation indicates that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Viva Enterprises Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Viva Enterprises Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management's remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Viva Enterprises Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Marcus FCA FCCA (Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditor
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

8 April 2025

Viva Enterprises Limited (Registered number: 02076721)

Income Statement
for the Period 1 April 2023 to 30 March 2024

Period
1.4.23
to Year Ended
30.3.24 31.3.23
Notes £    £   

TURNOVER 3 13,944,559 14,060,172

Cost of sales (7,801,873 ) (7,881,116 )
GROSS PROFIT 6,142,686 6,179,056

Administrative expenses (5,154,754 ) (3,641,169 )
987,932 2,537,887

Other operating income 30,050 -
Gain/loss on revaluation of assets 16,269 (393,642 )
OPERATING PROFIT 5 1,034,251 2,144,245

Interest receivable and similar income 246,081 114,342
PROFIT BEFORE TAXATION 1,280,332 2,258,587

Tax on profit 7 (340,268 ) (499,999 )
PROFIT FOR THE FINANCIAL PERIOD 940,064 1,758,588

Viva Enterprises Limited (Registered number: 02076721)

Other Comprehensive Income
for the Period 1 April 2023 to 30 March 2024

Period
1.4.23
to Year Ended
30.3.24 31.3.23
Notes £    £   

PROFIT FOR THE PERIOD 940,064 1,758,588


OTHER COMPREHENSIVE INCOME
Revaluation of tangible fixed assets
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF INCOME
TAX


-


-
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

940,064

1,758,588

Viva Enterprises Limited (Registered number: 02076721)

Balance Sheet
30 March 2024

30.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 9 4,285,501 4,366,355
Investments 10 429,750 370,442
4,715,251 4,736,797

CURRENT ASSETS
Stocks 11 3,713,520 4,361,620
Debtors 12 14,363,542 13,844,101
Cash at bank and in hand 5,393,595 5,121,983
23,470,657 23,327,704
CREDITORS
Amounts falling due within one year 13 (1,647,730 ) (1,637,564 )
NET CURRENT ASSETS 21,822,927 21,690,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,538,178

26,426,937

PROVISIONS FOR LIABILITIES 14 (261,115 ) (269,938 )
NET ASSETS 26,277,063 26,156,999

CAPITAL AND RESERVES
Called up share capital 15 1,000 1,000
Share premium 16 54,302 54,302
Fair value reserve 16 108,377 144,503
Retained earnings 16 26,113,384 25,957,194
SHAREHOLDERS' FUNDS 26,277,063 26,156,999

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





R G Dangoor - Director


Viva Enterprises Limited (Registered number: 02076721)

Statement of Changes in Equity
for the Period 1 April 2023 to 30 March 2024

Called up Fair
share Retained Share value Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2022 1,000 24,599,292 54,302 357,817 25,012,411

Changes in equity
Dividends - (614,000 ) - - (614,000 )
Total comprehensive income - 1,758,588 - - 1,758,588
Transfer to/from fair value
reserve to P/L reserves - 213,314 - (213,314 ) -
Balance at 31 March 2023 1,000 25,957,194 54,302 144,503 26,156,999

Changes in equity
Dividends - (820,000 ) - - (820,000 )
Total comprehensive income - 940,064 - - 940,064
Transfer to/from fair value
reserve to P/L reserves - 36,126 - (36,126 ) -
Balance at 30 March 2024 1,000 26,113,384 54,302 108,377 26,277,063

Viva Enterprises Limited (Registered number: 02076721)

Cash Flow Statement
for the Period 1 April 2023 to 30 March 2024

Period
1.4.23
to Year Ended
30.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,355,711 (1,029,758 )
Tax paid (416,966 ) (820,000 )
Net cash from operating activities 938,745 (1,849,758 )

Cash flows from investing activities
Purchase of tangible fixed assets (80,225 ) (98,540 )
Purchase of fixed asset investments (12,989 ) (784,155 )
Sale of fixed asset investments - 1,366,793
Interest received 246,081 114,342
Net cash from investing activities 152,867 598,440

Cash flows from financing activities
Equity dividends paid (820,000 ) (614,000 )
Net cash from financing activities (820,000 ) (614,000 )

Increase/(decrease) in cash and cash equivalents 271,612 (1,865,318 )
Cash and cash equivalents at beginning of
period

2

5,121,983

6,987,301

Cash and cash equivalents at end of
period

2

5,393,595

5,121,983

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Cash Flow Statement
for the Period 1 April 2023 to 30 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Profit before taxation 1,280,332 2,258,587
Depreciation charges 161,079 156,643
Profit on disposal of fixed assets - (206,153 )
(Gain)/loss on revaluation of fixed assets (16,269 ) 393,642
Finance income (246,081 ) (114,342 )
1,179,061 2,488,377
Decrease/(increase) in stocks 648,100 (349,381 )
Increase in trade and other debtors (272,773 ) (3,107,654 )
Decrease in trade and other creditors (198,677 ) (61,100 )
Cash generated from operations 1,355,711 (1,029,758 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 March 2024
30.3.24 1.4.23
£    £   
Cash and cash equivalents 5,393,595 5,121,983
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 5,121,983 6,987,301


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 30.3.24
£    £    £   
Net cash
Cash at bank and in hand 5,121,983 271,612 5,393,595
5,121,983 271,612 5,393,595
Total 5,121,983 271,612 5,393,595

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 March 2024

1. STATUTORY INFORMATION

Viva Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting 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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on the amounts recognised in the financial statements:

Trade debtors: The recoverability of trade debtors has been assessed as at the year end and up until the date of signing these financial statements. Management have based their decision to provide for any amounts based on their judgement of all the available information, and their experience of the specific nature of trade debtors in question.

Stock: Stock is included as per the accounting policy set out above. Management have assessed the need to write off or provide against any specific items based on the levels held at year end, and the expected sales of such items in the immediate period post year end.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line on cost
Long leasehold - over the life of the lease
Fixtures,fittings,equipment, plant and
machinery and motor vehicle

-

25% on reducing balance and 15% 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.

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Dividends
Equity dividends are recognised when they become legally payable.

Fixed asset investments
Fixed asset investments are stated at cost less accumulated impairment.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
United Kingdom 13,598,559 13,857,360
Africa 346,000 202,812
13,944,559 14,060,172

4. EMPLOYEES AND DIRECTORS
Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Wages and salaries 2,095,055 1,863,717
Social security costs 219,079 200,806
Other pension costs 26,954 27,326
2,341,088 2,091,849

The average number of employees during the period was as follows:
Period
1.4.23
to Year Ended
30.3.24 31.3.23

Administration 24 24
Sales 30 30
54 54

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Directors' remuneration 233,585 160,140

Information regarding the highest paid director for the period ended 30 March 2024 is as follows:
Period
1.4.23
to
30.3.24
£   
Emoluments etc 173,383

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Depreciation - owned assets 161,079 156,643
Profit on disposal of fixed assets - (206,153 )

6. AUDITORS' REMUNERATION
Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

32,000

32,000
Fees payable to the company's auditors for other services:
All other services 15,650 16,690

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 349,091 529,734

Deferred tax (8,823 ) (29,735 )
Tax on profit 340,268 499,999

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Profit before tax 1,280,332 2,258,587
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

320,083

429,132

Effects of:
Expenses not deductible for tax purposes 10,956 8,856
Depreciation in excess of capital allowances 18,052 17,235
leading to a decrease in the

Adjustments to tax in respect of listed investments gain - 74,263
Deferred tax movement for year (8,823 ) (29,735 )
Other - 248
Total tax charge 340,268 499,999

Tax effects relating to effects of other comprehensive income

There were no tax effects for the period ended 30 March 2024.

31.3.23
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets

8. DIVIDENDS
Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   
Ordinary shares of £1 each
Interim 820,000 614,000

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

9. TANGIBLE FIXED ASSETS
Fixtures,fittings,equipment,
plant and
machinery
Freehold Short Long and motor
property leasehold leasehold vehicle Totals
£    £    £    £    £   
COST
At 1 April 2023 4,132,246 424,420 234,769 1,426,460 6,217,895
Additions 4,578 - - 75,647 80,225
At 30 March 2024 4,136,824 424,420 234,769 1,502,107 6,298,120
DEPRECIATION
At 1 April 2023 299,481 424,420 16,436 1,111,203 1,851,540
Charge for period 82,736 - 2,348 75,995 161,079
At 30 March 2024 382,217 424,420 18,784 1,187,198 2,012,619
NET BOOK VALUE
At 30 March 2024 3,754,607 - 215,985 314,909 4,285,501
At 31 March 2023 3,832,765 - 218,333 315,257 4,366,355

The directors do not consider there has been any changes during the year to the value of freehold properties retained by the companyr. The historic cost of the properties is £2,894,438.

Deferred tax is provided on the potential gain less indexation allowance.

10. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2023 370,442
Additions 12,989
Revaluations 46,319
At 30 March 2024 429,750
NET BOOK VALUE
At 30 March 2024 429,750
At 31 March 2023 370,442

Cost or valuation at 30 March 2024 is represented by:

Listed
investments
£   
Valuation in 2023 46,319
Cost 383,431
429,750

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

11. STOCKS
30.3.24 31.3.23
£    £   
Goods for resale 3,713,520 4,361,620

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Trade debtors 559,653 831,712
Amounts owed by group undertakings 905,073 57,952
Other debtors 11,811,065 11,899,382
Prepayments 1,087,751 1,055,055
14,363,542 13,844,101

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Trade creditors 766,335 966,696
Tax 218,087 285,962
Social security and other taxes 61,189 53,272
VAT 200,702 206,935
Other creditors 311 311
Accruals and deferred income 401,106 124,388
1,647,730 1,637,564

14. PROVISIONS FOR LIABILITIES
30.3.24 31.3.23
£    £   
Deferred tax 261,115 269,938

Deferred
tax
£   
Balance at 1 April 2023 269,938
Provided during period (8,823 )
Balance at 30 March 2024 261,115

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.3.24 31.3.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

Viva Enterprises Limited (Registered number: 02076721)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

16. RESERVES

Share premium account - This reserve includes the amount above the nominal value received for shares sold, less transaction costs.

Profit and loss account - This reserve records retained earnings and accumulated losses.

Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets.

17. ULTIMATE PARENT COMPANY

Viva Properties Limited a company incorporated in England and Wales is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling party is Mr R Dangoor and Mrs N Dangoor by virtue of their 100% shareholding throughout the current and previous year.

18. RELATED PARTY DISCLOSURES



31 March
2024
31 March
2023
£    £   
Sales to entities over which the entity has significant influence 130,712 74,948
Balance owed by entities over which the entity has significant influence - 290
Loans to entities over which the entity has significant influence 7,667,039 7,514,639
Rent paid to other related parties 266,667 250,000
Balance owed by director 626,343 863,241

The loans to entities over which the entity has significant influence are repayable on demand.

The directors current account was overdrawn by £626,343. The maximum amount overdrawn during the year was £2,196,241. Interest of £17,574 has been charged by the company in respect of this amount. The balance outstanding was repaid after the year end.

19. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £44,852 (2023: £33,092).

20. CONTINGENT LIABILTY

The company is involved in litigation in relation to a contract for the supply of medical equipment during the COVID Pandemic. The amount being claimed is US$50 million. The company is vigorously defending the claim and the directors consider that they will ultimately win the action against the company. Consequently the directors do not consider it necessary to make a provision for any potential losses under the claim

21. GOING CONCERN

At the balance sheet date, the company is highly solvent with net assets of £26 million. As noted in Note 20 the company is involved in significant litigation that could result in a significant liability In the event of the action being lost in whole or in part. Therefore there is a significant uncertainty over the company's ability to remain as a going concern. The shareholders have indicated their willingness to support the company and consequently the directors consider it appropriate to prepare the financial statements on the going concern basis.