REGISTERED NUMBER 7300890
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
FOR
VIPER GRIPS LTD
PAGES FOR FILING WITH REGISTRAR
VIPER GRIPS LTD
CONTENTS
Page
Director's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
VIPER GRIPS LTD
REPORT OF THE MANAGEMENT COMMITTEE
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 July 2024.

Principal activities

The principal activity of the company continued to be that of provision of grip services and equipment in respect of motion pictures and television productions.

Status and management
The Society is registered under the Co-operative and Community Benefit Socities Act 2014 and is managed by the Management Committee.
Members of the Management Committee

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S M Thorpe
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
S M Thorpe
Director
22 April 2025
VIPER GRIPS LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,366
1,361
Current assets
Debtors
4
4,048
4,768
Cash at bank and in hand
9,748
30,311
13,796
35,079
Creditors: amounts falling due within one year
5
(15,160)
(33,511)
Net current (liabilities)/assets
(1,364)
1,568
Net assets
2
2,929
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1
2,928
Total equity
2
2,929
VIPER GRIPS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 3 -

For the financial year ended 31 July 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 22 April 2025
..............................................
S M Thorpe
Chair
..............................................
Treasurer
..............................................
Secretary
Company registration number 7300890 (England and Wales)
VIPER GRIPS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information

Viper Grips Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 219 St Margaret's Road, St Margaret's, Twickenham, TW1 1LU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VIPER GRIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.5
Pension costs and other post-retirement benefits
The compnay 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.
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
45,620
Additions
947
At 31 July 2024
46,567
Depreciation and impairment
At 1 August 2023
44,259
Depreciation charged in the year
942
At 31 July 2024
45,201
Carrying amount
At 31 July 2024
1,366
At 31 July 2023
1,361
VIPER GRIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,120
4,768
Other debtors
928
-
0
4,048
4,768
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
10,013
25,464
Other taxation and social security
4,088
6,700
Other creditors
1,059
1,347
15,160
33,511
6
Related Party Disclosures

During the year ,total dividends of £44,900 (2023-£102,000) were paid to the director.

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