Sharing The Vibe Limited - Period Ending 2021-11-30
Sharing The Vibe Limited - Period Ending 2021-11-30
Registration number:
Sharing The Vibe Limited
for the Year Ended 30 November 2021
Sharing The Vibe Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Sharing The Vibe Limited
Company Information
Directors |
Mrs GF Kimberley PT Kimberley |
Registered office |
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Accountants |
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Sharing The Vibe Limited
(Registration number: 11681912)
Balance Sheet as at 30 November 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
(64,941) |
(64,038) |
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Shareholders' deficit |
(64,939) |
(64,036) |
Sharing The Vibe Limited
(Registration number: 11681912)
Balance Sheet as at 30 November 2021
For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
Going concern
Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets, to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.
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.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.
Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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 |
Depreciation method and rate |
Furniture, fittings, tools and equipment |
25% Straight Line Method |
Investment property
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.
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.
Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 December 2020 |
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Additions |
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At 30 November 2021 |
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Depreciation |
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At 1 December 2020 |
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Charge for the year |
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At 30 November 2021 |
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Carrying amount |
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At 30 November 2021 |
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At 30 November 2020 |
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Investment properties |
2021 |
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At 1 December |
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Additions |
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Fair value adjustments |
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At 30 November |
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There has been no valuation of investment property by an independent valuer.
Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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- |
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Current |
2021 |
2020 |
Trade debtors |
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Prepayments |
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Other debtors |
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- |
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Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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Ordinary "A" share of £1 each |
1 |
1 |
1 |
1 |
Ordinary "B" share of £1 each |
1 |
1 |
1 |
1 |
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Sharing The Vibe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021
Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Other borrowings |
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Related party transactions |
2021 |
At 1 December 2020 |
Advances to director |
Repayments by director |
At 30 November 2021 |
Directors' loan account |
( |
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( |
( |
2020 |
At 1 December 2019 |
Advances to director |
Repayments by director |
At 30 November 2020 |
Directors' loan account |
( |
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( |
( |