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Company No: 04454839 (England and Wales)

VITRAGE INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

VITRAGE INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

VITRAGE INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2023
VITRAGE INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Tangible assets 4 603,221 316,710
Investments 5 73,713 73,713
676,934 390,423
Current assets
Stocks 6 0 297,094
Debtors 7 11,502 10,725
Cash at bank and in hand 12,269 84,134
23,771 391,953
Creditors: amounts falling due within one year 8 ( 61,013) ( 143,126)
Net current (liabilities)/assets (37,242) 248,827
Total assets less current liabilities 639,692 639,250
Net assets 639,692 639,250
Capital and reserves
Called-up share capital 303,073 303,073
Profit and loss account 336,619 336,177
Total shareholders' funds 639,692 639,250

For the financial year 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 Vitrage Investments Limited (registered number: 04454839) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

D Tombs
Director
VITRAGE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
VITRAGE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

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

General information and basis of accounting

Vitrage Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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.

Turnover

The turnover is rent received and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property 50 years straight line
Plant and machinery 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Prior year adjustment

The prior year adjustment relates to an increase in dividends that were voted but not originally included in the 2022 accounts

As previously reported Adjustment As restated
Year ended 30 June 2022 £ £ £
Dividends 39,999 79,998 119,997
Creditors (63,128) (79,998) (143,126)

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Investment property Plant and machinery Total
£ £ £
Cost
At 01 July 2022 528,779 3,100 531,879
Additions 297,094 0 297,094
At 30 June 2023 825,873 3,100 828,973
Accumulated depreciation
At 01 July 2022 212,101 3,068 215,169
Charge for the financial year 10,575 8 10,583
At 30 June 2023 222,676 3,076 225,752
Net book value
At 30 June 2023 603,197 24 603,221
At 30 June 2022 316,678 32 316,710

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2022 73,713 73,713
At 30 June 2023 73,713 73,713
Carrying value at 30 June 2023 73,713 73,713
Carrying value at 30 June 2022 73,713 73,713

6. Stocks

2023 2022
£ £
Work in progress 0 297,094

7. Debtors

2023 2022
£ £
Trade debtors 4,585 2,225
Other debtors 6,917 8,500
11,502 10,725

8. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 14,365 12,641
Other taxation and social security 2,812 1,961
Other creditors 43,836 128,524
61,013 143,126