Registration number: 08381224
## Vibe Southend Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 January 2023
Brian Nuttgens Accountants Limited Chartered Certified Accountants 1007 London Road Leigh-On-Sea Essex SS9 3JY
## **Vibe Southend Ltd**
## **Contents**
|Company Information|1|
|---|---|
|Directors' Report|2|
|Accountants' Report|3|
|Profit and Loss Account|4|
|Statement of Comprehensive Income|5|
|Balance Sheet|6|
|Statement of Changes in Equity|7|
|Notes to the Unaudited Financial Statements|8 to 13|
|Detailed Profit and Loss Account|14 to 16|
## **Vibe Southend Ltd**
## **Company Information**
**Directors** Mrs Rita Bell Mr Arthur Bell **Company secretary** Cobat Secretarial Services Limited **Registered office** 1007 London Road Leigh on Sea Essex SS9 3JY **Accountants** Brian Nuttgens Accountants Limited Chartered Certified Accountants 1007 London Road Leigh-On-Sea Essex SS9 3JY
Page 1
## **Vibe Southend Ltd**
## **Directors' Report for the Year Ended 31 January 2023**
The directors present their report and the financial statements for the year ended 31 January 2023.
## **Directors of the company**
The directors who held office during the year were as follows:
Mrs Rita Bell
Mr Arthur Bell
## **Principal activity**
The principal activity of the company is Charity
## **Small companies provision statement**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 24 April 2023 and signed on its behalf by:
......................................... Mrs Rita Bell Director
Page 2
## **Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Vibe Southend Ltd for the Year Ended 31 January 2023**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vibe Southend Ltd for the year ended 31 January 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html .
This report is made solely to the Board of Directors of Vibe Southend Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of the Company and state those matters that we have agreed to state to the Board of Directors of the Company, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet -163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Vibe Southend Ltd 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 the Company. You consider that Vibe Southend Ltd 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 the Company. 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.
......................................
Brian Nuttgens Accountants Limited Chartered Certified Accountants 1007 London Road Leigh-On-Sea Essex SS9 3JY 24 April 2023
Page 3
## **Vibe Southend Ltd**
## **Profit and Loss Account for the Year Ended 31 January 2023**
|**Note**
Turnover
Cost of sales
Gross profit
Administrative expenses
Other operating income
Operating profit
Interest payable and similar expenses
Profit before tax
4
Profit for the financial year|**2023**
**£**
77,204
(3,102)
74,102
(62,409)
-
11,693
-
11,693
11,693|**2022**
**£**
52,024
(4,954)|
|---|---|---|
|||47,070
(44,385)
19,354|
|||22,039
(2,678)|
|||19,361|
|||19,361|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 13 form an integral part of these financial statements. Page 4
## **Vibe Southend Ltd**
## **Statement of Comprehensive Income for the Year Ended 31 January 2023**
|Profit for the year
Total comprehensive income for the year|**2023**
**£**
11,693
11,693|**2022**
**£**
19,361|
|---|---|---|
|||19,361|
The notes on pages 8 to 13 form an integral part of these financial statements. Page 5
## **Vibe Southend Ltd**
## **(Registration number: 08381224) Balance Sheet as at 31 January 2023**
|**Note**
**Fixed assets**
Tangible assets
5
**Current assets**
Debtors
6
Cash at bank and in hand
**Creditors**: Amounts falling due within one year
7
**Net current assets**
**Total assets less current liabilities**
**Creditors**: Amounts falling due after more than one year
7
**Net assets**
**Capital and reserves**
Called up share capital
8
Retained earnings
Shareholders' funds|**2023**
**£**
6,815
368
40,922
41,290
(725)
40,565
47,380
(14,266)
33,114
100
33,014
33,114|**2022**
**£**
7,226
-
33,420|
|---|---|---|
|||33,420
(525)|
|||32,895|
|||40,121
(18,700)|
|||21,421|
|||100
21,321|
|||21,421|
For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 24 April 2023 and signed on its behalf by:
......................................... Mrs Rita Bell Director
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
## **Vibe Southend Ltd**
## **Statement of Changes in Equity for the Year Ended 31 January 2023**
|At 1 February 2022
Profit for the year
At 31 January 2023
At 1 February 2021
Profit for the year
At 31 January 2022|**Share capital**
**£**
100
-
100
**Share capital**
**£**
100
-
100|**Retained**
**earnings**
**£**
21,321
11,693
33,014
**Retained**
**earnings**
**£**
1,960
19,361
21,321|**Total**
**£**
21,421|
|---|---|---|---|
||||11,693|
||||33,114|
||||**Total**
**£**
2,060|
||||19,361|
||||21,421|
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
## **1 General information**
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is: 1007 London Road Leigh on Sea Essex SS9 3JY England
These financial statements were authorised for issue by the Board on 24 April 2023.
## **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 except that as disclosed in the accounting policies certain items are shown at fair value.
## **Revenue recognition**
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.
## **Tangible assets**
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
## **Depreciation**
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
**Asset class** Equipment
**Depreciation method and rate** 20%Reducing Balance
Page 8
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
## **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.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **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.
## **3 Staff numbers**
The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).
## **4 Profit before tax**
Arrived at after charging/(crediting)
Page 9
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
Depreciation expense
|**2023**
**£**
1,704|**2022**
**£**
1,806|
|---|---|
Page 10
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
## **5 Tangible assets**
|**Cost or valuation**
At 1 February 2022
Additions
At 31 January 2023
**Depreciation**
At 1 February 2022
Charge for the year
At 31 January 2023
**Carrying amount**
At 31 January 2023
At 31 January 2022
**6**
**Debtors**
**Current**
Other debtors
**7**
**Creditors**
**Creditors: amounts falling due within one year**
**Due within one year**
Other creditors
**Creditors: amounts falling due after more than one year**
**Note**
**Due after one year**
Loans and borrowings
9||**Furniture,**
**fittings and**
**equipment**
**£**
8,631
3,293||**Total**
**£**
8,631
3,293
11,924
3,405
1,704
5,109
6,815
7,226
**2022**
**£**
-|
|---|---|---|---|---|
|||11,924|||
|||3,405
1,704|||
|||5,109|||
|||6,815|||
|||7,226|||
|||**2023**
**£**
368
**2023**
**£**
725
**2023**
**£**
14,266|||
|||||**2022**
**£**
525|
|||||**2022**
**£**
18,700|
Page 11
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
## **8 Share capital**
## **Allotted, called up and fully paid shares**
|Ordinary of £1 each
**9**
**Loans and borrowings**
**Non-current loans and borrowings**
Other borrowings|**2023**
**No.**
**£**
100
100|**2022**
**No.**
**£**
100
100
**2023**
**£**
**2022**
**£**
14,266
18,700|**2022**
**No.**
**£**
100
100
**2023**
**£**
**2022**
**£**
14,266
18,700|
|---|---|---|---|
||||**2022**
**£**
18,700|
## **10 Related party transactions**
Page 12
## **Vibe Southend Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023**
## **Directors' remuneration**
The directors' remuneration for the year was as follows:
Remuneration
|**2023**|**2022**|
|---|---|
|**£**|**£**|
|2,936|-|
Page 13
## **Vibe Southend Ltd**
## **Detailed Profit and Loss Account for the Year Ended 31 January 2023**
|Turnover (analysed below)
Cost of sales (analysed below)
Gross profit
Gross profit (%)
**Administrative expenses**
Employment costs (analysed below)
Establishment costs (analysed below)
General administrative expenses (analysed below)
Depreciation costs (analysed below)
Other operating income (analysed below)
Operating profit
Interest payable and similar expenses (analysed below)
Profit before tax|**2023**
**£**
77,204
(3,102)
74,102
95.98%
(36,670)
(12,903)
(11,132)
(1,704)
(62,409)
-
11,693
-
11,693|**2022**
**£**
52,024
(4,954)|
|---|---|---|
|||47,070|
|||90.48%
(22,775)
(12,117)
(7,687)
(1,806)|
|||(44,385)
19,354|
|||22,039
(2,678)|
|||19,361|
This page does not form part of the statutory financial statements. Page 14
## **Vibe Southend Ltd**
## **Detailed Profit and Loss Account for the Year Ended 31 January 2023**
|**Turnover**
Fees recieved
Donations
Interest received
**Cost of sales**
Activities
Purchases
**Employment costs**
Wages and salaries (excluding directors)
Directors remuneration
Staff training
**Establishment costs**
Rent
Water rates
Insurance
Repairs and renewals
**General administrative expenses**
Telephone and fax
Computer software and maintenance costs
Printing, postage and stationery
Sundry expenses
Cleaning
Motor expenses
Travel and subsistence
Advertising
Accountancy fees
Consultancy fees
Legal and professional fees
**Depreciation costs**
Depreciation of fixtures and fittings (owned)
**Other operating income**
Government grants receivable|**2023**
**£**
67,168
10,000
36
77,204
(1,029)
(2,073)
(3,102)
(32,673)
(2,936)
(1,061)
(36,670)
(10,500)
(379)
(308)
(1,716)
(12,903)
(359)
(888)
(2,274)
(367)
(2,015)
(1,874)
(25)
(255)
(788)
(1,639)
(648)
(11,132)
(1,704)
-|**2022**
**£**
49,877
2,140
7|
|---|---|---|
|||52,024|
|||-
(4,954)|
|||(4,954)|
|||(22,775)
-
-|
|||(22,775)|
|||(10,500)
(349)
(692)
(576)|
|||(12,117)|
|||(475)
(3,869)
(1,148)
(235)
(298)
(197)
(330)
(290)
(432)
-
(413)|
|||(7,687)|
|||(1,806)|
|||19,354|
This page does not form part of the statutory financial statements. Page 15
## **Vibe Southend Ltd**
## **Detailed Profit and Loss Account for the Year Ended 31 January 2023**
|**Interest payable and similar expenses**
Bank interest payable|**2023**
**£**
-|**2022**
**£**
(2,678)|
|---|---|---|
This page does not form part of the statutory financial statements. Page 16