VIBRANT_VENTURES_LIMITED - Accounts

VIBRANT VENTURES LIMITED - Company Information

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Company Registration No. 04628191 (England and Wales)

VIBRANT VENTURES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

VIBRANT VENTURES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

VIBRANT VENTURES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Current assets

Debtors

123,507

Cash at bank and in hand

572

124,079

Creditors: amounts falling due within one year

(87,491)

Total assets less current liabilities

36,588

Capital and reserves

Called up share capital

100

Profit and loss account

36,488

Shareholders' funds

36,588

Audit exemption statement

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 27 April 2017

D Fisher

Director

Company Registration No. 04628191

VIBRANT VENTURES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

True and fair override

During the year ended 31 July 2012, the company acquired freehold properties to the values of £455,000 on behalf of Newton Hall (Northumberland) Limited, a related company. Although legal title is held by Vibrant Ventures Limited, the beneficial ownership of the aforementioned properties sits in Newton Hall (Northumberland) Limited.

It is the intention of the company to transfer the legal ownership of the properties to Newton Hall (Northumberland) Limited to align beneficial and legal ownership together. The required financial support was provided to Vibrant Ventures Limited by Newton Hall (Northumberland) Limited. As there will be overall loss to either company, the transaction involving the freehold property has been treated as if the freehold property was acquired by Newton Hall (Northumberland) Limited during the year ended 31 July 2012 and was owned by the related company at the year end. This accounting treatment reflects the substance of the transaction rather than its legal form.

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100