1 August 2023 false Taxfiler 2024.6 true 10891679business:PrivateLimitedCompanyLtd2023-08-012024-07-31 108916792023-07-31 108916792023-08-012024-07-31 10891679business:AuditExemptWithAccountantsReport2023-08-012024-07-31 10891679business:FilletedAccounts2023-08-012024-07-31 108916792024-07-31 10891679business:Director12023-08-012024-07-31 10891679business:RegisteredOffice2023-08-012024-07-31 108916792023-07-31 10891679core:WithinOneYear2024-07-31 10891679core:WithinOneYear2023-07-31 10891679core:AfterOneYear2024-07-31 10891679core:AfterOneYear2023-07-31 10891679core:ShareCapitalcore:PreviouslyStatedAmount2024-07-31 10891679core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 10891679core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-07-31 10891679core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 10891679core:PreviouslyStatedAmount2024-07-31 10891679core:PreviouslyStatedAmount2023-07-31 10891679business:SmallEntities2023-08-012024-07-31 10891679countries:EnglandWales2023-08-012024-07-31 10891679core:PlantMachinery2023-07-31 10891679core:MotorVehicles2023-07-31 10891679core:PlantMachinery2024-07-31 10891679core:MotorVehicles2024-07-31 10891679core:PlantMachinery2023-08-012024-07-31 10891679core:MotorVehicles2023-08-012024-07-31 108916792022-08-012023-07-31 iso4217:GBP xbrli:pure
Company Registration No. 10891679 (England and Wales)
Universal Vibes Limited Unaudited accounts for the year ended 31 July 2024
Universal Vibes Limited Unaudited accounts Contents
Page
- 2 -
Universal Vibes Limited Company Information for the year ended 31 July 2024
Director
Vishnu Appadu
Company Number
10891679 (England and Wales)
Registered Office
Universal Vibes Limited 2nd Floor 166 College Road Harrow Middlesex HA1 1BH England
Accountants
Red Parrot Accounting Ltd Red Parrot Accounting, Pentax House, South Hill Avenue South Harrow, London, Middlesex England HA2 0DU
- 3 -
Universal Vibes Limited Accountants' report
Accountants' report to the director of Universal Vibes Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Universal Vibes Limited for the year ended 31 July 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Universal Vibes Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Universal Vibes Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Universal Vibes Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Universal Vibes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Universal Vibes Limited. You consider that Universal Vibes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Universal Vibes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Red Parrot Accounting Ltd Red Parrot Accounting, Pentax House, South Hill Avenue South Harrow, London, Middlesex England HA2 0DU 25 February 2025
- 4 -
Universal Vibes Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,895 
41,194 
Current assets
Debtors
146,666 
41,506 
Cash at bank and in hand
84,153 
96,887 
230,819 
138,393 
Creditors: amounts falling due within one year
(78,266)
(46,333)
Net current assets
152,553 
92,060 
Total assets less current liabilities
183,448 
133,254 
Creditors: amounts falling due after more than one year
(42,336)
(26,335)
Net assets
141,112 
106,919 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
141,012 
106,819 
Shareholders' funds
141,112 
106,919 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 February 2025 and were signed on its behalf by
Vishnu Appadu Director Company Registration No. 10891679
- 5 -
Universal Vibes Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Universal Vibes Limited is a private company, limited by shares, registered in England and Wales, registration number 10891679. The registered office is Universal Vibes Limited 2nd Floor, 166 College Road, Harrow, Middlesex, HA1 1BH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 July 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Going concern
The financial statements have been prepared on a going concern basis as support has been arranged from the shareholders to enable the company to pay its debts as they fall due.
Turnover
Turnover is recognized at the fair value of the consideration receivable for services provided in the normal course of business.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash at bank and in hand
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 current liabilities.
- 6 -
Universal Vibes Limited Notes to the Accounts for the year ended 31 July 2024
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Donation
The company made charitable donations totalling £29,052.00 during the year end. Donations were made to UK registered charities, including London’s Air Ambulance, the National Deaf Children’s Society (NDCS), Brahma Kumaris, and the National Trust (St Helens Duver).
Leased assets
The company has acquired certain assets under hire purchase agreements. In accordance with the applicable accounting standards, assets held under such arrangements are recognised as fixed assets within the balance sheet and are depreciated over their estimated useful lives on the same basis as owned assets. The related obligations are included within creditors and are classified according to their due dates
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
13,417 
47,832 
61,249 
At 31 July 2024
13,417 
47,832 
61,249 
Depreciation
At 1 August 2023
5,625 
14,430 
20,055 
Charge for the year
1,948 
8,351 
10,299 
At 31 July 2024
7,573 
22,781 
30,354 
Net book value
At 31 July 2024
5,844 
25,051 
30,895 
At 31 July 2023
7,792 
33,402 
41,194 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
142,564 
38,367 
Accrued income and prepayments
963 
- 
Other debtors
3,139 
3,139 
146,666 
41,506 
- 7 -
Universal Vibes Limited Notes to the Accounts for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
23,000 
- 
Taxes and social security
46,773 
18,830 
Other creditors
2,665 
26,666 
Loans from directors
5,626 
- 
Accruals
202 
837 
78,266 
46,333 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
33,893 
13,317 
Obligations under finance leases and hire purchase contracts
8,443 
13,018 
42,336 
26,335 
8
Average number of employees
During the year the average number of employees was 12 (2023: 9).
- 8 -