Company No: 08141298 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Marcus Stuart De Layen Vian
	Mario Dolcezza
	David Wenn

REGISTERED OFFICE	St Georges Court
	St. Georges Road
	Bristol
	BS1 5UG
	England
	United Kingdom

COMPANY NUMBER

08141298 (England and Wales)

CHARTERED ACCOUNTANTS	Albert Goodman LLP
	3 Filers Way
	Weston Gateway Business Park
	Weston-super-Mare
	Somerset
	BS24 7JP

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	697		930
		697		930
Current assets
Debtors	4	50,909		280,573
Cash at bank and in hand	5	1,695		31,231
		52,604		311,804
Creditors
Amounts falling due within one year	6	( 43,032)		( 249,137)
Net current assets		9,572		62,667
Total assets less current liabilities		10,269		63,597
Creditors
Amounts falling due after more than one year	7	( 15,185)		( 19,000)
Net (liabilities)/assets		( 4,916)		44,597
Capital and reserves
Called-up share capital	8	14,000		11,200
Profit and loss account		( 18,916 )		33,397
Total shareholders' (deficit)/funds		( 4,916)		44,597

For the financial year ending 31 July 2021 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of VIU Systems Limited (registered number: 08141298) were approved and authorised for issue by the Board of Directors on 29 July 2022. They were signed on its behalf by:

Mario Dolcezza Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

VIU Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Georges Court, St. Georges Road, Bristol, BS1 5UG, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 August 2020	6,811		6,811
At 31 July 2021	6,811		6,811
Accumulated depreciation
At 01 August 2020	5,881		5,881
Charge for the financial year	233		233
At 31 July 2021	6,114		6,114
Net book value
At 31 July 2021	697		697
At 31 July 2020	930		930

4. Debtors

	2021		2020
	£		£
Trade debtors	18,023		269,038
Amounts owed by Group undertakings	12,880		10,080
Other debtors	20,006		1,455
	50,909		280,573

5. Cash and cash equivalents

	2021		2020
	£		£
Cash at bank and in hand	1,695		31,231

6. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans	3,277		0
Trade creditors	13,263		228,606
Amounts owed to Group undertakings	422		422
Other creditors	2,459		1,288
Corporation tax	364		7,561
Other taxation and social security	23,247		11,260
	43,032		249,137

7. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	15,185		19,000

Within bank loans is a balance of £18,462 relating to an amount due from a bounce back loan (with £19,000 being the full loan value) which was taken out on 7 May 2020.

8. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
14,000 Ordinary shares of £ 1.00 each (2020: 11,200 shares of £ 1.00 each)	14,000		11,200