Silverfin false false 30/06/2023 09/05/2022 30/06/2023 C Lamanuzzi 09/05/2022 G Lamanuzzi 09/05/2022 E Leith-Parsons 09/05/2022 R Leith-Parsons 09/05/2022 J Revie 09/05/2022 A Revie 09/05/2022 06 February 2024 The company was incorporated on 9 May 2022 and commenced trading in June. The principal activity of the company is that of property development. SC731908 2023-06-30 SC731908 bus:Director1 2023-06-30 SC731908 bus:Director2 2023-06-30 SC731908 bus:Director3 2023-06-30 SC731908 bus:Director4 2023-06-30 SC731908 bus:Director5 2023-06-30 SC731908 bus:Director6 2023-06-30 SC731908 core:CurrentFinancialInstruments 2023-06-30 SC731908 core:ShareCapital 2023-06-30 SC731908 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC731908 core:AdditionsToInvestments 2023-06-30 SC731908 core:CostValuation 2023-06-30 SC731908 bus:OrdinaryShareClass1 2023-06-30 SC731908 2022-05-09 2023-06-30 SC731908 bus:FilletedAccounts 2022-05-09 2023-06-30 SC731908 bus:SmallEntities 2022-05-09 2023-06-30 SC731908 bus:AuditExemptWithAccountantsReport 2022-05-09 2023-06-30 SC731908 bus:PrivateLimitedCompanyLtd 2022-05-09 2023-06-30 SC731908 bus:Director1 2022-05-09 2023-06-30 SC731908 bus:Director2 2022-05-09 2023-06-30 SC731908 bus:Director3 2022-05-09 2023-06-30 SC731908 bus:Director4 2022-05-09 2023-06-30 SC731908 bus:Director5 2022-05-09 2023-06-30 SC731908 bus:Director6 2022-05-09 2023-06-30 SC731908 core:Subsidiary1 2022-05-09 2023-06-30 SC731908 core:Subsidiary1 1 2022-05-09 2023-06-30 SC731908 bus:OrdinaryShareClass1 2022-05-09 2023-06-30 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: SC731908 (Scotland)

REVIE ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 09 MAY 2022 TO 30 JUNE 2023
PAGES FOR FILING WITH THE REGISTRAR

REVIE ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 09 MAY 2022 TO 30 JUNE 2023

Contents

REVIE ENTERPRISES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2023
REVIE ENTERPRISES LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2023
Note 30.06.2023
£
Fixed assets
Investments 3 100
100
Current assets
Stocks 3,115,868
Debtors 652,656
Cash at bank and in hand 16,356,597
20,125,121
Creditors: amounts falling due within one year 4 ( 19,975,915)
Net current assets 149,206
Total assets less current liabilities 149,306
Net assets 149,306
Capital and reserves
Called-up share capital 5 100
Profit and loss account 149,206
Total shareholders' funds 149,306

For the financial period ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Revie Enterprises Limited (registered number: SC731908) were approved and authorised for issue by the Director on 06 February 2024. They were signed on its behalf by:

R Leith-Parsons
Director
REVIE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 09 MAY 2022 TO 30 JUNE 2023
REVIE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 09 MAY 2022 TO 30 JUNE 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Revie Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 3 Regency Court, Hamilton,ML3 7EA, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements cover the period from incorporation on 9th May 2022 to 30 June 2023. There are no comparatives as this is the company's first period of trading.

Prior period error

[Disclose the nature of the prior period error, and (if practicable);
(i) for each prior period presented, the amount of the correction for each financial statement line item affected; and
(ii) the amount of the correction at the beginning of the earliest prior period presented; or an explanation if it is not practicable to disclose these amounts for (i) and (ii).]

Turnover

Turnover represents amounts receivable from management charges net of VAT.

Revenue is recognised on an accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Stocks

Stock and work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks,

Trade and other creditors

Trade and other creditors are recognised at fair value and thereafter stated at amortised cost using the effective interest rate method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
09.05.2022 to
30.06.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 6

3. Fixed asset investments

Investments in subsidiaries

30.06.2023
£
Cost
At 09 May 2022 0
Additions 100
At 30 June 2023 100
Carrying value at 30 June 2023 100

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
30.06.2023
Revie Residential Limited (SC755107) 3 Regency Court, Hamilton, Scotland, ML3 7EA Buying and selling of own real estate Ordinary 100.00%

4. Creditors: amounts falling due within one year

30.06.2023
£
Taxation and social security 37,620
Other creditors 19,938,295
19,975,915

5. Called-up share capital

30.06.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

6. Related party transactions

Other related party transactions

30.06.2023
£
Amounts owed to key management personnel 19,936,400
Amounts owed by group companies 466,500