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REGISTERED NUMBER: 09912777 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VIBE BETA LIMITED

VIBE BETA LIMITED (REGISTERED NUMBER: 09912777)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIBE BETA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: D Morra





REGISTERED OFFICE: 15 West Street
Brighton
East Sussex
BN1 2RL





REGISTERED NUMBER: 09912777 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

VIBE BETA LIMITED (REGISTERED NUMBER: 09912777)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 38,555 74,095
Investments 5 100 -
Investment property 6 7,734,999 8,199,999
7,773,654 8,274,094

CURRENT ASSETS
Debtors 7 4,318 16,865
Cash at bank 50,528 38,541
54,846 55,406
CREDITORS
Amounts falling due within one year 8 (7,263,115 ) (7,860,688 )
NET CURRENT LIABILITIES (7,208,269 ) (7,805,282 )
TOTAL ASSETS LESS CURRENT LIABILITIES 565,385 468,812

PROVISIONS FOR LIABILITIES (97,200 ) (79,325 )
NET ASSETS 468,185 389,487

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 330,365 377,592
Retained earnings 137,720 11,795
468,185 389,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 August 2025 and were signed by:





D Morra - Director


VIBE BETA LIMITED (REGISTERED NUMBER: 09912777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Vibe Beta 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents rental income from investment properties.

All income is recognised on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

VIBE BETA LIMITED (REGISTERED NUMBER: 09912777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 3,511 22,199 120,524 7,228 153,462
Additions - 1,300 - 2,861 4,161
At 31 December 2024 3,511 23,499 120,524 10,089 157,623
DEPRECIATION
At 1 January 2024 1,397 16,178 56,831 4,961 79,367
Charge for year 878 5,863 30,131 2,829 39,701
At 31 December 2024 2,275 22,041 86,962 7,790 119,068
NET BOOK VALUE
At 31 December 2024 1,236 1,458 33,562 2,299 38,555
At 31 December 2023 2,114 6,021 63,693 2,267 74,095

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100
At 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 8,199,999
Disposals (475,000 )
Revaluations 10,000
At 31 December 2024 7,734,999
NET BOOK VALUE
At 31 December 2024 7,734,999
At 31 December 2023 8,199,999

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2022 438,392
Valuation in 2024 (390,097 )
Cost 7,686,704
7,734,999

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 120 120
Amounts owed by group undertakings 605 -
Other debtors 300 13,241
Prepayments 3,293 3,504
4,318 16,865

VIBE BETA LIMITED (REGISTERED NUMBER: 09912777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 39,436 23,468
VAT 570 1,351
Other creditors 671,901 737,357
Directors' loan accounts 6,526,778 7,062,131
Accruals and deferred income 21,251 33,292
Accrued expenses 3,179 3,089
7,263,115 7,860,688

9. RESERVES
Revaluation
reserve
£   
At 1 January 2024 377,592
Revaluations in year (47,227 )

At 31 December 2024 330,365

As at the balance sheet date, the revaluation reserve relating to investment properties stands at £330,365. This is included within profit and loss reserves but is not distributable as it is unrealised.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, D Morra decreased his loan to the company. As at 31 December 2024, the company owed him £6,526,778 (2023: £7,062,131). This balance represented the maximum amount outstanding during the year.

Interest is charged on quarterly basis at 7% per annum.

11. ULTIMATE CONTROLLING PARTY

The controlling party is D Morra.

This was by virtue of his 70% holding of the issued share capital.

12. NET CURRENT LIABILITY

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. As at the year end the current liabilities exceeded current assets by £7,208,269 (2023: £7,805,282). The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support.