ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

VIVICA GROUP LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312024-05-232022-09-01No description of principal activity0true0falsetrue 14057605 2022-09-01 2023-08-31 14057605 2021-09-01 2022-08-31 14057605 2023-08-31 14057605 2022-08-31 14057605 c:Director2 2022-09-01 2023-08-31 14057605 d:CurrentFinancialInstruments 2023-08-31 14057605 d:CurrentFinancialInstruments 2022-08-31 14057605 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 14057605 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 14057605 d:ShareCapital 2023-08-31 14057605 d:ShareCapital 2022-08-31 14057605 c:EntityHasNeverTraded 2022-09-01 2023-08-31 14057605 c:FRS102 2022-09-01 2023-08-31 14057605 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 14057605 c:FullAccounts 2022-09-01 2023-08-31 14057605 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 14057605 d:Subsidiary1 2022-09-01 2023-08-31 14057605 d:Subsidiary1 1 2022-09-01 2023-08-31 14057605 d:Subsidiary2 2022-09-01 2023-08-31 14057605 d:Subsidiary2 1 2022-09-01 2023-08-31 14057605 d:Subsidiary3 2022-09-01 2023-08-31 14057605 d:Subsidiary3 1 2022-09-01 2023-08-31 14057605 d:Subsidiary4 2022-09-01 2023-08-31 14057605 d:Subsidiary4 1 2022-09-01 2023-08-31 14057605 6 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 14057605

VIVICA GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

VIVICA GROUP LIMITED

REGISTERED NUMBER: 14057605

BALANCE SHEET

AS AT 31 AUGUST 2023

				As restated
		2023		2022
		£		£

Fixed assets
Investments		400		400
		400		400

Creditors: amounts falling due within one year	(300)		(300)
Net current liabilities		(300)		(300)

Net assets		100		100

Capital and reserves
Called up share capital	100	100
Total Shareholder funds	100	100

For the year ended 31 August 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Gerhardus Koen

Director

Date: 23 May 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

VIVICA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

1.	General information

Vivica Group Limited is a private company limited by shares, incorporated in England and Wales, registered number 14057605 on 20 April 2022. The registered office is 6th Floor, 2 London Wall Place, London, United Kingdom, EC2Y 5AU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.3

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 2

VIVICA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

2.4

Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 3

VIVICA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

2.4

Financial instruments (continued)

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

3.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 September 2022	-
	Prior Year Adjustment	400
	At 1 September 2022 (as restated)	400
	At 31 August 2023	400

Page 4

VIVICA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

Hypa Fibre Limited	6th Floor, 2 London Wall Place, London, EC2Y 5AU	Ordinary	100%
Vox Telecommunications Limited	6th Floor, 2 London Wall Place, London, EC2Y 5AU	Ordinary	100%
Frogfoot Networks Limited	6th Floor, 2 London Wall Place, London, EC2Y 5AU	Ordinary	100%
Everlytic Limited	6th Floor, 2 London Wall Place, London, EC2Y 5AU	Ordinary	100%

The aggregate of the share capital and reserves as at 31 August 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

Hypa Fibre Limited	100	-
Vox Telecommunications Limited	100	-
Frogfoot Networks Limited	100	-
Everlytic Limited	100	-

Debtors

Amounts owed to group undertakings	300	300
	300	300

6.	Prior year adjustment

The prior year adjustment reflects a correction to the financial statements for the year ended 31 August 2022 to incorporate investments in subsidiaries that had previously been omitted.

Page 5

VIVICA GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

7.	Controlling party

The ultimate controlling party is Vivica Group (Pty) Ltd, a company registered in England and Wales.

Page 6