REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2022 |
for |
Viewforward Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2022 |
for |
Viewforward Limited |
Viewforward Limited (Registered number: 04054624) |
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Viewforward Limited |
Company Information |
for the Year Ended 31 March 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Suites 5 & 6 The Printworks |
Hey Road |
Barrow |
Clitheroe |
Lancashire |
BB7 9WB |
Viewforward Limited (Registered number: 04054624) |
Balance Sheet |
31 March 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Non distributable reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Viewforward Limited (Registered number: 04054624) |
Balance Sheet - continued |
31 March 2022 |
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 and authorised for issue on |
Viewforward Limited (Registered number: 04054624) |
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Viewforward Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable and services recharged net of value added tax. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The directors acknowledge that although this policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005), this treatment represents a departure from the requirement of the Companies Act 1985 to depreciate all tangible fixed assets except land, however this is necessary to give a true and fair view, as investment properties are not held to be consumed within the operations of an enterprise but are held for their investment potential. It is not possible to quantify the amount of depreciation that might have been provided due to the subjectivity of any amount reported. |
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. |
Viewforward Limited (Registered number: 04054624) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2007 | 182,900 |
Cost | 192,100 |
375,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.3.22 | 31.3.21 |
£ | £ |
Cost | 192,100 | 192,100 |
Investment property was valued on an open market basis on 14 November 2007 by Eckersley Chartered Surveyors & Valuers . |
The directors are of the opinion that the valuation is still appropriate. |
Viewforward Limited (Registered number: 04054624) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
VAT | 1,225 | 1,345 |
Directors' current accounts | 36,058 | 36,058 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans repayable in more |
than 5 years by instalments |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans repayable in more |
than 5 years by instalments | 41,812 | 54,204 |
41,812 | 54,204 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
The loan is secured on the freehold land and property owned by the company. |
Viewforward Limited (Registered number: 04054624) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
9. | PROVISIONS FOR LIABILITIES |
31.3.22 | 31.3.21 |
£ | £ |
Deferred tax | 11,940 | 11,940 |
Deferred |
tax |
£ |
Balance at 1 April 2021 |
Balance at 31 March 2022 |
10. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
Ordinary | £1 | 6 | 6 |
11. | RESERVES |
Non |
distributable |
reserve |
£ |
At 1 April 2021 |
and 31 March 2022 |
12. | ULTIMATE CONTROLLING PARTY |