11 19 Vivino Ltd 09793352 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of providing a community to rate and purchase wines from across the world. Digita Accounts Production Advanced 6.30.9574.0 true false true 09793352 2024-01-01 2024-12-31 09793352 2024-12-31 09793352 core:CurrentFinancialInstruments 2024-12-31 09793352 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09793352 bus:SmallEntities 2024-01-01 2024-12-31 09793352 bus:Audited 2024-01-01 2024-12-31 09793352 bus:FilletedAccounts 2024-01-01 2024-12-31 09793352 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09793352 bus:RegisteredOffice 2024-01-01 2024-12-31 09793352 bus:CompanySecretary1 2024-01-01 2024-12-31 09793352 bus:Director3 2024-01-01 2024-12-31 09793352 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09793352 bus:Agent1 2024-01-01 2024-12-31 09793352 core:Share-basedArrangement1 2024-01-01 2024-12-31 09793352 1 2024-01-01 2024-12-31 09793352 countries:EnglandWales 2024-01-01 2024-12-31 09793352 2023-01-01 2023-12-31 09793352 2023-12-31 09793352 core:CurrentFinancialInstruments 2023-12-31 09793352 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 09793352

Vivino Ltd

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Vivino Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Vivino Ltd

Company Information

Director

H Zachariassen

Company secretary

Goodwille Limited

Registered office

1 Chapel Street
Warwick
Warwickshire
CV34 4HL

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Vivino Ltd

(Registration number: 09793352)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

6

1,809,561

2,597,297

Cash at bank and in hand

 

148,044

49,182

 

1,957,605

2,646,479

Creditors: Amounts falling due within one year

7

(1,516,059)

(2,181,471)

Net assets

 

441,546

465,008

Capital and reserves

 

Called up share capital

8

1

1

Capital redemption reserve

687,425

537,581

Retained earnings

(245,880)

(72,574)

Shareholders' funds

 

441,546

465,008

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 June 2025
 

.........................................
H Zachariassen
Director

   
     
 

Vivino Ltd

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

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the Company is that of providing a community to rate and purchase wines from across the world.

These financial statements were authorised for issue by the director on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Vivino Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 

 

Vivino Ltd

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

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Vivino Ltd

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

Share based payments

The group operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity.

Equity-settled arrangements are measured at fair value (excluding the effect on non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

Where equity settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for the share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the income statement.

The Group has no cash-settled arrangements.

3

Significant judgements and key sources of estimation uncertainty

Judgements

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. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 10 June 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 11 (2023 - 19).

 

Vivino Ltd

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

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

3,342

6,372

Amounts owed by Group undertakings and undertakings in which the Company has a participating interest

1,747,065

2,547,932

Prepayments

 

10,812

7,683

Other debtors

 

48,342

35,310

 

1,809,561

2,597,297

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

9,090

1,573

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

1,388,803

2,007,741

Taxation and social security

 

50,720

129,260

Accruals and deferred income

 

67,446

42,795

Other creditors

 

-

102

 

1,516,059

2,181,471

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

Vivino Ltd

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

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

 

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Vivino Inc., incorporated in USA.

The parent of the smallest and largest group in which these financial statements are consolidated is Vivino Inc. These financial statements are available upon request from:

Vivino Inc.
100 Montgomery Street
Suite 2000
San Francisco
CA 94104

11

Share-based payments

Share options

Scheme details and movements

The Vivino Group operates share option schemes for its employees.

The equity-settled share option schemes provide for a grant price equal to the average estimated market price of the Parent Company's shares on the date of grant.

Fair value of the options is measured at the grant date utilising the Black Scholes model. The options vest over a 4 year period with 25% vesting at 12 months and the remainder vesting monthly for the next 36 months. The options granted have a maximum term of 10 years from the date of the grant.