Vivid Adapt Ltd - Accounts

Vivid Adapt Ltd - Accounts

VIVID ADAPT LTD - Company Information

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Reports Dated : 23/03/2021
Registered Number: 09106393
England and Wales

 

 

 

VIVID ADAPT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2019

End date: 30 June 2020

Vivid Adapt Ltd
Contents Page
For the year ended 30 June 2020
As described in the balance sheet you are responsible for the preparation of the financial statements for the 2019/2020 ended 30th of June 2020 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Vivid Adapt Ltd
6 Chestnut Rise
Bar Hill
Cambridge
CB238TF
23 March 2021
1
 
 		 Notes
 		 30/06/2020
£		   30/06/2019
£
Fixed assets      
Tangible fixed assets 2 506    1,117 
506    1,117 
Current assets      
Debtors: amounts falling due within one year 5,498    6,115 
Cash at bank and in hand 12,306    3,470 
17,804    9,585 
Creditors: amount falling due within one year (4,278)   (491)
Net current assets 13,526    9,094 
 
Total assets less current liabilities 14,032    10,211 
Creditors: amount falling due after more than one year 0    50 
Accruals and deferred income (4,449)   0 
Net assets 9,583    10,261 
 

Capital and reserves 		     
Called up share capital 2    2 
Profit and loss account 9,581    10,259 
Shareholders funds 9,583    10,261 
 



For the  period 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the 30th of June 2018 in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 March 2021 and were signed on its behalf by:


--------------------------------
Nanyo Lyutskanov Nanev
Director
2
General Information
Vivid Adapt Ltd is a private company, limited by shares, registered in England and Wales, registration number 09106393, registration address 6 Chestnut Rise, Bar Hill, Cambridge, CB238TF

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
2.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2019 2,489    2,489 
Additions -    - 
Disposals -    - 
At 30 June 2020 2,489    2,489 
Depreciation
At 01 July 2019 1,372    1,372 
Charge for year 611    611 
On disposals -    - 
At 30 June 2020 1,983    1,983 
Net book values
Closing balance as at 30 June 2020 506    506 
Opening balance as at 01 July 2019 1,117    1,117 


3.

Staff Costs

     


4.

Average number of employees


Average number of employees during the year was 2 (2019 : 2)
3