Vibe Generation Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08765625 (England and Wales)

Vibe Generation Holdings Limited

Unaudited Financial Statements

for the Year Ended 30 November 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D Pritchett

A Maxwell

REGISTERED OFFICE:

6 Charter Point Way

Ashby Park

Ashby de la Zouch

LE65 1NF

REGISTERED NUMBER:

08765625 (England and Wales)

ACCOUNTANTS:

Haines Watts

6 Charter Point Way

Ashby Business Park

Ashby De La Zouch

Leicestershire

LE65 1NF

FIXED ASSETS

Investments

4

506,000

506,000

CURRENT ASSETS

Debtors

5

235

100

Cash at bank

10,055

10,110

10,290

10,210

CREDITORS

Amounts falling due within one year

6

517,598

516,798

NET CURRENT LIABILITIES

(507,308

)

(506,588

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,308

)

(588

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(1,408

)

(688

)

SHAREHOLDERS' FUNDS

(1,308

)

(588

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2018 and were signed on its behalf by:

D Pritchett - Director

1.	STATUTORY INFORMATION

Vibe Generation Holdings Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Compliance with accounting standards

The financial statements have been prepared under the historical cost convention.

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).

These accounts are prepared on the going concern basis, based on the continuing support of the director.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

The company has adopted the provisions set out in FRS102 (Section 1A) for small companies. This is the first

year that the company has prepared financial statements under the new regulatory framework. It is not

considered that there are any transitional adjustments required to either the prior year figures nor those at the

transitional date. As such, no reconciliation is provided in these financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgement,

estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from

other sources. The estimates and associated assumptions are based on historical experience and other factors

that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2016

and 30 November 2017

506,000

NET BOOK VALUE

At 30 November 2017

506,000

At 30 November 2016

506,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

100

100

VAT

135

-

235

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

516,798

516,798

Directors' current accounts

800

-

517,598

516,798

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1.00

100

100

8.

RESERVES

Retained

earnings

£

At 1 December 2016

(688

)

Profit for the year

21,657

Dividends

(22,377

)

At 30 November 2017

(1,408

)

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2017 and

30 November 2016:

2017

2016

£

£

D Pritchett

Balance outstanding at start of year

-

-

Amounts advanced

10

-

Amounts repaid

(810

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(800

)

-

The loans from directors are interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year dividends were paid to the company totalling £22,377 (2016 - £22,377) by Acuwomen Limited,

a company owned 100% by Vibe Generation Holdings Limited. During the year Acuwomen Limited paid

dividends on behalf of Vibe Generation Holdings Limited totalling 23,377 (2016 - £22,377). The dividends were

paid to Angela Maxwell, a director and 5% shareholder of Vibe Generation Holdings Limited. At the end of the

year the company owed £250,000 (2016 - 250,000) to Acuwomen Limited.

At 31 December 2017 the company owed £266,798 (2016- £266,798) to Vibe Generation Limited, a company

which is owned 50% by Acuwomen Ltd and 50% by Vibe Generation Consulting Limited. Vibe Generation

Holdings Limited holds 100% of the shares of both Acuwomen Limited and Vibe Generation Consulting Limited.

Both of these loans are interest free and repayable on demand.