Vemotion Group Limited 30/09/2020 iXBRL

VEMOTION GROUP LIMITED - Company Information

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Company registration number: 05203412

Vemotion Group Limited

Unaudited filleted financial statements

30 September 2020

Vemotion Group Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Vemotion Group Limited

Directors and other information


Directors	Mr G R Haworth
	Mr S McCone	(Resigned 18 March 2020)
	Mrs H K Aston Haworth
	Mrs C Haworth
	Mr S R Haworth


Secretary	Ms C L Iverson


Company number	05203412


Registered office	Teleware House
	York Road
	Thirsk
	North Yorkshire
	YO7 3BX


Accountants	The Barker Partnership
	17 Central Buildings
	Market Place
	Thirsk
	North Yorkshire
	YO7 1HD

Vemotion Group Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Vemotion Group Limited

Year ended 30 September 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vemotion Group Limited for the year ended 30 September 2020 which comprise the statement of financial position, statement of changes in equity and related notes 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 /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Vemotion Group 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 financial statements of Vemotion Group Limited and state those matters that we have agreed to state to the board of directors of Vemotion Group 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 Vemotion Group Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Vemotion Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vemotion Group Limited. You consider that Vemotion Group 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 financial statements of Vemotion Group 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 financial statements.

The Barker Partnership

Chartered Accountants

17 Central Buildings

Market Place

Thirsk

North Yorkshire

YO7 1HD

17 June 2021

Vemotion Group Limited

Statement of financial position

30 September 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Investments	5	100,336		100,336
		_______		_______
			100,336		100,336

Current assets
Debtors	6	4,343,646		4,358,646
		_______		_______
		4,343,646		4,358,646
Creditors: amounts falling due
within one year	7	( 104,656)		( 118,333)
		_______		_______
Net current assets			4,238,990		4,240,313
			_______		_______
Total assets less current liabilities			4,339,326		4,340,649

			_______		_______
Net assets			4,339,326		4,340,649
			_______		_______

Capital and reserves
Called up share capital	8		4,388,962		4,388,980
Capital redemption reserve			18		-
Profit and loss account			( 49,654)		( 48,331)
			_______		_______
Shareholders funds			4,339,326		4,340,649
			_______		_______

For the year ending 30 September 2020 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 June 2021 , and are signed on behalf of the board by:

Mr S R Haworth

Director

Company registration number: 05203412

Vemotion Group Limited

Statement of changes in equity

Year ended 30 September 2020

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£


At 1 October 2018	4,388,980	-	( 46,418)	4,342,562

Profit for the year			-	-
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	-

Dividends paid and payable			( 1,913)	( 1,913)
	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	( 1,913)	( 1,913)

	_______	_______	_______	_______
At 30 September 2019 and 1 October 2019	4,388,980	-	( 48,331)	4,340,649

Profit for the year			-	-
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	-

Dividends paid and payable			( 1,323)	( 1,323)
Cancellation of subscribed capital	( 18)	18	-	-
	_______	_______	_______	_______
Total investments by and distributions to owners	( 18)	18	( 1,323)	( 1,323)

	_______	_______	_______	_______
At 30 September 2020	4,388,962	18	( 49,654)	4,339,326
	_______	_______	_______	_______

Vemotion Group Limited

Notes to the financial statements

Year ended 30 September 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Teleware House, York Road, Thirsk, North Yorkshire, YO7 3BX. The company is a non trading holding company for the Vemotion group of companies. The principal activity of the group is that of mobile phone media and internet solutions including streaming.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts are prepared under the going concern basis, the validity of which is dependent upon the continued support of the director and shareholder, Mr G R Haworth.

Group accounts

The company is entitled to the exemption under Section 398 of the Companies Act 2006 from theobligation to prepare group accounts.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less anyaccumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

4. Dividends

Dividends on shares classed as debt

	2020	2019
	£	£
Dividends recognised as a liability	1,323	1,913
	_______	_______

In accordance with FRS 102 the preference share dividend has been provided for but cannot be paid until such time as the company has sufficient reserves to pay it.

5. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 October 2019 and 30 September 2020	100,336	100,336
	_______	_______
Impairment
At 1 October 2019 and 30 September 2020	-	-
	_______	_______
Carrying amount
At 30 September 2020	100,336	100,336
	_______	_______
At 30 September 2019	100,336	100,336
	_______	_______

6. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4,343,620	4,358,620
Other debtors	26	26
	_______	_______
	4,343,646	4,358,646
	_______	_______

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2	2
Other creditors	104,654	118,331
	_______	_______
	104,656	118,333
	_______	_______

8. Called up share capital

	2020		2019
	No	£	No	£
Amounts presented in equity:
Ordinary A shares shares of £ 1.00 each	4,388,854	4,388,854	4,388,854	4,388,854
Ordinary B shares shares of £ 1.00 each	108	108	126	126
	_______	_______	_______	_______
	4,388,962	4,388,962	4,388,980	4,388,980
	_______	_______	_______	_______
Amounts presented in liabilities:
Preference shares shares of £ 1.00 each	55,000	55,000	70,000	70,000
	_______	_______	_______	_______

9. Related party transactions

During the year £1,323 (2019 - £1,913) was provided for dividends on the preference shares owned by a director of the company. The cumulative dividends payable at 30 September 2020 is £49,654 (2019 - £48,331) and is included in creditors. 15,000 of these Preference Shares were redeemed during the year.At the balance sheet date an amount of £3,341,420 (2019 - £3,356,420) was due to the company from Vemotion Interactive Limited.At the balance sheet date an amount of £1,002,200 (2019 - £1,002,200) was due to the company from Vemotion FN Limited.The loans are unsecured, interest free and are repayable on demand.

10. Controlling party

For the whole of the year the company was controlled by Mr G R Haworth, a director and the majority shareholder.