| REGISTERED NUMBER: |
| Report of the Directors and |
| Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| VIVIFY VENUES LTD |
| REGISTERED NUMBER: |
| Report of the Directors and |
| Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| VIVIFY VENUES LTD |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| VIVIFY VENUES LTD |
| Company Information |
| for the Year Ended 31 August 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| Northern Assurance Buildings |
| 9-21 Princess Street |
| Manchester |
| M2 4DN |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Report of the Directors |
| for the Year Ended 31 August 2024 |
| The directors present their report with the financial statements of the company for the year ended 31 August 2024. |
| Principal activity |
| The principal activity of the company in the year under review was the facilitating of letting school facilities to local communities. |
| Review of business |
| Vivify Venues unlocks access to underused school facilities across the UK, helping schools generate vital income while connecting communities with affordable spaces. Vivify's mission aligns strongly with broader ESG goals, helping schools generate much-needed funding, while giving communities access to safe, affordable, and inclusive spaces for sport, education, and culture. |
| Our proprietary tech platform and online marketplace make finding, booking, and managing these spaces seamless for both schools and hirers. |
| Over the past year, we've achieved strong revenue growth through onboarding more schools and increasing current school's utilisation, whilst also securing multiple external industry awards. |
| Future developments |
| With over 30,000 schools nationwide, our scalable model and strong unit economics position us to capture a significant share of this untapped market. |
| We are currently progressing a funding round to accelerate product development and expand our operations, including AI-driven booking automation. Alongside strong school retention, growing multi-academy trust partnerships, and a mission aligned to ESG goals, Vivify is well place for sustainable, long-term growth. |
| Directors |
| Other changes in directors holding office are as follows: |
| Going concern |
| The financial statements have been prepared on a going concern basis. In reaching this conclusion, the directors considered prudent management forecasts including cashflow projections incorporating contracted revenue, a strong sales pipeline, and clear operational efficiencies. These forecasts, covering a 4 year period, indicate sustained business growth and the strengthening of profit margins, driven by the onboarding of new schools, increased utilisation, and the integration of automation and AI technologies. While the directors acknowledge that certain assumptions underpinning these forecasts are subject to uncertainty, they believe the forecasts are both reasonable and achievable. Based on these assessments and the current resources available, the directors have concluded that it remains appropriate to prepare the financial statements on a going concern basis. |
| Employee engagement and disabled persons |
| The company engaged regularly with employees through updates and feedback channels. Staff views were considered in decision-making and development initiatives. |
| In line with reporting requirements, the company supports: |
| - Fair recruitment of disabled persons. |
| - Continued employment and training for staff who become disabled. |
| - Equal access to development and promotion opportunities. |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Report of the Directors |
| for the Year Ended 31 August 2024 |
| Statement of directors' responsibilities |
| The directors are responsible for preparing 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. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| On behalf of the board: |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Debtors: amounts falling due within one year | 7 |
| Debtors: amounts falling due after more than one year |
7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 10 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | Statutory information |
| Vivify Venues Ltd is a |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. In reaching this conclusion, the directors considered prudent management forecasts including cashflow projections incorporating contracted revenue, a strong sales pipeline, and clear operational efficiencies. These forecasts, covering a 4 year period, indicate sustained business growth and the strengthening of profit margins, driven by the onboarding of new schools, increased utilisation, and the integration of automation and AI technologies. While the directors acknowledge that certain assumptions underpinning these forecasts are subject to uncertainty, they believe the forecasts are both reasonable and achievable. Based on these assessments and the current resources available, the directors have concluded that it remains appropriate to prepare the financial statements on a going concern basis. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Vivify Venues Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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 at the reporting date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
| The directors consider the only significant judgement involved in the preparation of the financial statements to be the recognition of a deferred tax asset. A deferred asset of £730,000 (2023: £nil) has been recognised at the reporting date as the directors have concluded that it is probable that this asset will be recovered against future taxable profits. This judgement is supported by prudent management forecasts reflecting contracted revenue, a strong sales pipeline, and identifiable operational efficiencies. However, the directors acknowledge that some of the assumptions underlying the company's profit forecast are subject to uncertainty. As a result, the recoverability of £730,000 (2023: £nil) of the deferred tax asset is also subject to uncertainty. In reviewing the probability of recovery, the directors have reviewed the 4 year forecast that has been used for the going concern assessment. This forecast anticipates the continued growth of the business and a turn to profitability through onboarding new schools, increasing utilisation and operational efficiencies through integration of automation and AI technologies. The directors believe these forecasts are reasonable and achievable based on current performance trends and underlying business fundamentals. |
| Turnover |
| Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue is recognised when the letting takes place. |
| Other income |
| Other income represents management charges which are recognised in the period the service was provided. |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 3. | Accounting policies - continued |
| Tangible fixed assets |
| Computer equipment | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
| Investments in subsidiaries |
| Investments in subsidiaries are measured at cost less accumulated impairment. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 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. |
| Share based payments |
| For equity settled share-based payments, the company measures the goods or services received, and the corresponding increase in equity, directly, at the fair value of the goods or services received. If the company cannot estimate the fair value of the goods or services received the company measures the their value by reference to the fair value of the equity instrument granted. |
| Share capital |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity, as a deduction, net of tax, from the proceeds. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 5. | Tangible fixed assets |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 September 2023 |
| Additions |
| At 31 August 2024 |
| Depreciation |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | Fixed asset investments |
| Shares in |
| group |
| undertaking |
| £ |
| Cost |
| At 1 September 2023 |
| and 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| 7. | Debtors |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| Other debtors includes £730,000 (2023 - £nil) relating to a deferred tax asset, which is due after one year. |
| For further details see the critical accounting judgements included in note 3. |
| VIVIFY VENUES LTD (REGISTERED NUMBER: 12770812) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 8. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| 10. | Called up share capital |
| Allotted, issued and | fully paid |
| Number | Class | Nominal | 2024 | 2023 |
| Value | £ | £ |
| 74,126 | Ordinary A | £0.01 | 741 | 900 |
| 74,334 | Ordinary B | £0.01 | 743 | 658 |
| 10,010 | Ordinary C | £0.01 | 100 | 100 |
| 64,651 | Ordinary D | £0.01 | 647 | 573 |
| 2,231 | 2,231 |
| On 11 June 2024 15,874 A ordinary shares were reclassified as 8,492 B ordinary shares and 7,382 D ordinary shares. |
| On 13 July 2023 share options were granted to purchase 30,000 shares for an exercise prices of £0.01 exercisable for a period of 10 years when the performance conditions have been met or on an exercise event. |
| 11. | Auditor's information |
| The auditor's report on the financial statements for the year ended 31 August 2024 was unqualified but drew attention by way of emphasis to judgements and estimates in uncertainty disclosed in note 3. The audit report was signed on 29 August 2025 by |
| 12. | Related party disclosures |
| Included in creditors are amounts due to directors of £nil (2023 - £8,865). These amounts are interest free and repayable on demand. |
| During the year there were recharges of £256,589 (2023 - £190,730) made to its subsidiary for services used and at the year end there was £56,762 (2023 - £27,841) due in amounts owed by group undertakings. |