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REGISTERED NUMBER: SC218900 (Scotland)















Financial Statements for the Year Ended 31 May 2023

for

G.V.I. Limited

G.V.I. Limited (Registered number: SC218900)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G.V.I. Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: G Vincent





SECRETARY: Mrs D Vincent





REGISTERED OFFICE: 37 Angusfield Avenue
Aberdeen
AB15 6AR





REGISTERED NUMBER: SC218900 (Scotland)





ACCOUNTANTS: J M Taylor
5 Rubislaw Terrace
ABERDEEN
AB10 1XE

G.V.I. Limited (Registered number: SC218900)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125,452 125,877

CURRENT ASSETS
Debtors 5 - 323
Cash at bank 3,742 9,074
3,742 9,397
CREDITORS
Amounts falling due within one year 6 64,990 65,688
NET CURRENT LIABILITIES (61,248 ) (56,291 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,204

69,586

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 7 74,300 74,300
Retained earnings (10,098 ) (4,716 )
SHAREHOLDERS' FUNDS 64,204 69,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 25 January 2024 and were signed by:





G Vincent - Director


G.V.I. Limited (Registered number: SC218900)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

G.V.I. Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

G.V.I. Limited (Registered number: SC218900)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
Investment machinery
properties etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2022
and 31 May 2023 125,000 6,821 131,821
DEPRECIATION
At 1 June 2022 - 5,944 5,944
Charge for year - 425 425
At 31 May 2023 - 6,369 6,369
NET BOOK VALUE
At 31 May 2023 125,000 452 125,452
At 31 May 2022 125,000 877 125,877

Cost or valuation at 31 May 2023 is represented by:

Plant and
Investment machinery
properties etc Totals
£    £    £   
Valuation in 2004 19,300 - 19,300
Valuation in 2014 90,000 - 90,000
Valuation in 2019 (35,000 ) - (35,000 )
Cost 50,700 6,821 57,521
125,000 6,821 131,821

Investment property was valued on an open market basis on 31 May 2019 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors - 323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other creditors 64,990 65,688

7. RESERVES
Fair
value
reserve
£   
At 1 June 2022
and 31 May 2023 74,300

G.V.I. Limited (Registered number: SC218900)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs G Vincent.