VBites Ventures Limited - Accounts to registrar (filleted) - small 18.2

VBites Ventures Limited - Accounts to registrar (filleted) - small 18.2

VBITES VENTURES LIMITED - Company Information

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REGISTERED NUMBER: 05803952 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

FOR

VBITES VENTURES LIMITED

VBITES VENTURES LIMITED (REGISTERED NUMBER: 05803952)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


VBITES VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2021







DIRECTOR: Miss H A Mills





REGISTERED OFFICE: 44 Grand Parade
Brighton
BN2 9QA





REGISTERED NUMBER: 05803952 (England and Wales)





ACCOUNTANTS: Chariot House Limited
Chartered Accountants
44 Grand Parade
Brighton
East Sussex
BN2 9QA
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VBITES VENTURES LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VBites Ventures Limited for the year ended 31st March 2021 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of VBites Ventures Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of VBites Ventures Limited and state those matters that we have agreed to state to the director of VBites Ventures Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VBites Ventures Limited and its director for our work or for this report.

It is your duty to ensure that VBites Ventures 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 loss of VBites Ventures Limited. You consider that VBites Ventures 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 VBites Ventures 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.






Chariot House Limited
Chartered Accountants
44 Grand Parade
Brighton
East Sussex
BN2 9QA


23rd February 2022

This page does not form part of the statutory financial statements

Page 2
VBITES VENTURES LIMITED (REGISTERED NUMBER: 05803952)

BALANCE SHEET
31ST MARCH 2021

2021 2020
Notes £    £   
FIXED ASSETS
Investments 4 287,000 342,123

CURRENT ASSETS
Debtors 5 65,000 65,468
Cash at bank 8,791 -
73,791 65,468
CREDITORS
Amounts falling due within one year 6 (399,574 ) (487,606 )
NET CURRENT LIABILITIES (325,783 ) (422,138 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(38,783
)
(80,015
)

CREDITORS
Amounts falling due after more than one
year
7
(50,000
)
-
NET LIABILITIES (88,783 ) (80,015 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (88,784 ) (80,016 )
(88,783 ) (80,015 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 3 continued...
VBITES VENTURES LIMITED (REGISTERED NUMBER: 05803952)

BALANCE SHEET - continued
31ST MARCH 2021


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

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

The financial statements were approved by the director and authorised for issue on 23rd February 2022 and were signed by:





Miss H A Mills - Director


The notes form part of these financial statements

Page 4
VBITES VENTURES LIMITED (REGISTERED NUMBER: 05803952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021


1. STATUTORY INFORMATION

VBites Ventures 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. ACCOUNTING POLICIES

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

Investments in associates
Investments in associates are stated at cost less any impairment losses.

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 balance sheet date.

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

Going concern
The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus an the activities of the business in the future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Page 5 continued...
VBITES VENTURES LIMITED (REGISTERED NUMBER: 05803952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2021


4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st April 2020 342,123
Disposals (55,123 )
At 31st March 2021 287,000
NET BOOK VALUE
At 31st March 2021 287,000
At 31st March 2020 342,123

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 65,000 65,468

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 2,460 492
Other creditors 397,114 487,114
399,574 487,606

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 50,000 -

8. RELATED PARTY DISCLOSURES

You Care Worldwide Limited, a company under common control, has an outstanding balance owed by the company at the balance sheet date is £108,226. No interest is charged and the balance is payable on
demand.

The director, who is also the ultimate controlling party, has lent the company a total of £286,478 (2020 - £484,714). No interest was charged in the year on this loan and it is repayable on demand.

Page 6