Vida Workspaces Limited - Period Ending 2021-12-31

Vida Workspaces Limited

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Balance Sheet	4 to 5
Notes to the Unaudited Financial Statements	6 to 8

Vida Workspaces Limited

Company Information

Directors

Mr M D Edworthy Mr K G Horstmann Mr R J Pugh Mr P N Scantlebury

Company secretary

Mrs C Edworthy

Registered office

Winslade House Winslade Drive Clyst St Mary EX5 1FY

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Vida Workspaces Limited

Directors' Report for the Year Ended 31 December 2021

The directors present their report and the financial statements for the year ended 31 December 2021.

Director of the company

The director who held office during the year was as follows:

Mr M D Edworthy

The following directors were appointed after the year end:

Mr K G Horstmann (appointed 17 February 2022)

Mr R J Pugh (appointed 17 February 2022)

Mr P N Scantlebury (appointed 17 February 2022)

Principal activity

The principal activity of the company is letting of property

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 by the Board on 28 September 2022 and signed on its behalf by:

......................................... Mr P N Scantlebury Director

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Vida Workspaces Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vida Workspaces Limited for the year ended 31 December 2021 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Vida Workspaces Limited, 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 Vida Workspaces Limited and state those matters that we have agreed to state to the Board of Directors of Vida Workspaces Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vida Workspaces Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vida Workspaces Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Vida Workspaces Limited. You consider that Vida Workspaces Limited 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 Vida Workspaces Limited. 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.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

28 September 2022

Vida Workspaces Limited

(Registration number: 08874960)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	1,467	2,190
Current assets
Debtors	5	429,783	316,202
Cash at bank and in hand		1,754	1,827
		431,537	318,029
Creditors: Amounts falling due within one year	7	(399,483)	(274,711)
Net current assets		32,054	43,318
Total assets less current liabilities		33,521	45,508
Creditors: Amounts falling due after more than one year	7	(25,673)	(37,570)
Net assets		7,848	7,938
Capital and reserves
Called up share capital		1	1
Retained earnings		7,847	7,937
Shareholders' funds		7,848	7,938

Vida Workspaces Limited

(Registration number: 08874960)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 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 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.

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 Board on 28 September 2022 and signed on its behalf by:
 

.........................................

Mr P N Scantlebury

Director

Vida Workspaces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England.

The company was formerly known as Thrive Hubs Limited.

The address of its registered office is:
Winslade House
Winslade Drive
Clyst St Mary
EX5 1FY
United Kingdom

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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% on cost
Office and computer equipment	33% on cost

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 3).

Vida Workspaces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2021	33,948	33,948
At 31 December 2021	33,948	33,948
Depreciation
At 1 January 2021	31,758	31,758
Charge for the year	723	723
At 31 December 2021	32,481	32,481
Carrying amount
At 31 December 2021	1,467	1,467
At 31 December 2020	2,190	2,190

5

Debtors

	2021 £	2020 £
Trade debtors	77,804	632
Prepayments	9,584	960
Other debtors	342,395	314,610
	429,783	316,202

6	Loans and borrowings

	2021 £	2020 £
Non-current loans and borrowings
Bank borrowings	25,673	37,570

	2021 £	2020 £
Current loans and borrowings
Bank borrowings	7,514	-

Vida Workspaces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Loans and borrowings	6	7,514	-
Trade creditors		121,906	6,279
Taxation and social security		2,895	18,122
Accruals and deferred income		3,059	7,201
Other creditors		264,109	243,109
		399,483	274,711