REGISTERED NUMBER: 10873663 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Vivida Lifestyle Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J D Harris-Burland

REGISTERED OFFICE:

3 Sheen Road

Richmond Upon Thames

Richmond

TW9 1AD

REGISTERED NUMBER:

10873663 (England and Wales)

ACCOUNTANTS:

Cansdales Business Advisers Limited

St Mary's Court

The Broadway

Old Amersham

Bucks

HP7 0UT

FIXED ASSETS

Intangible assets

3

78,402

102,343

Tangible assets

4

638

1,505

79,040

103,848

CURRENT ASSETS

Stocks

128,763

135,959

Debtors

5

47,915

83,094

Cash at bank

937

1,262

177,615

220,315

CREDITORS

Amounts falling due within one year

6

(314,497

)

(352,461

)

NET CURRENT LIABILITIES

(136,882

)

(132,146

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,842

)

(28,298

)

CREDITORS

Amounts falling due after more than one year

7

(108,960

)

(190,350

)

NET LIABILITIES

(166,802

)

(218,648

)

CAPITAL AND RESERVES

Called up share capital

8

136

129

Share premium

9

1,472,932

1,251,439

Retained earnings

9

(1,639,870

)

(1,470,216

)

SHAREHOLDERS' FUNDS

(166,802

)

(218,648

)

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 14 September 2025 and were signed by:

J D Harris-Burland - Director

1.	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.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include there valuation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 ensured 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.

GOODWILL

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences(Website development) are being amortised evenly over their estimated useful life of 2 years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33% on cost

Computer equipment - 33% on cost

Furniture and Fittings- 33% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also 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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

CASH AND CASH EQUIVALENTS

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

3.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 January 2024

197,886

44,049

241,935

Additions

-

608

608

At 31 December 2024

197,886

44,657

242,543

AMORTISATION

At 1 January 2024

107,188

32,404

139,592

Amortisation for year

19,789

4,760

24,549

At 31 December 2024

126,977

37,164

164,141

NET BOOK VALUE

At 31 December 2024

70,909

7,493

78,402

At 31 December 2023

90,698

11,645

102,343

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

607

9,577

10,184

DEPRECIATION

At 1 January 2024

466

8,213

8,679

Charge for year

139

728

867

At 31 December 2024

605

8,941

9,546

NET BOOK VALUE

At 31 December 2024

2

636

638

At 31 December 2023

141

1,364

1,505

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

9,052

6,488

Other debtors

38,863

76,606

47,915

83,094

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

34,767

40,869

Trade creditors

92,385

131,527

Taxation and social security

34,002

44,604

Other creditors

153,343

135,461

314,497

352,461

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

42,287

39,766

Other creditors

66,673

150,584

108,960

190,350

Amounts falling due in more than five years:

Repayable by instalments

Bank loans >5 years

39,887

11,392

CHHB - Consolidated Working

Capital Loan 2-5 Years

31,673

-

71,560

11,392

Bounce Back Loan of £50,000 was provided at an interest rate of 2.5%. It will be repaid in 60 Equal monthly installments starting from January 2022.

Consolidated Working Capital loan was provided at an interest rate of 7%. It will be repaid in 17 equal monthly installments starting from November 2024 as per the revised agreement..

Neil Stephen Miller Working Capital Loan of £35,000 was provided at an interest rate of 7%.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

13,622

Ordinary Shares

0.01

136

129

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

(1,470,216

)

1,251,439

(218,777

)

Deficit for the year

(169,654

)

(169,654

)

Cash share issue

-

221,493

221,493

At 31 December 2024

(1,639,870

)

1,472,932

(166,938

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J D Harris-Burland

Balance outstanding at start of year

12,496

-

Amounts advanced

-

12,496

Amounts repaid

(12,496

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

12,496

11.	RELATED PARTY DISCLOSURES

Loan is borrowed from Relative of Director John David Harris Burland, balance of which as on period ended 31.12.2024 is as follows:

(1) From Catharine Helen Harris Burland (Mother)

Consolidated Working Capital Loan - £31,673 (2023 - £130,995)

12.	GOING CONCERN

The Director notes that a material uncertainty exists which may cast significant doubt on the Company's ability to continue trading as a going concern. This arises from the prevailing fundraising and trading environment for small companies and the Company's limited internal resources. The Company has historically been successful in raising new capital to fund working capital requirements; however, there can be no certainty that future fundraising will be achieved. The Director has obtained professional insolvency advice, which confirmed that the Company may continue to trade while there remains a reasonable expectation of securing additional funding and achieving profitability. Furthermore, the Company is implementing measures to improve cash flow, reduce costs and strengthen margins. On this basis, the Director considers it appropriate to prepare the financial statements on a going concern basis.