Silverfin false false 31/12/2023 01/01/2023 31/12/2023 G Lamanuzzi 26/07/2018 R Leith-Parsons 26/07/2018 20 September 2024 The principal activity of the Company during the financial year was the holding and renting out of investment property. SC425418 2023-12-31 SC425418 bus:Director1 2023-12-31 SC425418 bus:Director2 2023-12-31 SC425418 2022-12-31 SC425418 core:CurrentFinancialInstruments 2023-12-31 SC425418 core:CurrentFinancialInstruments 2022-12-31 SC425418 core:Non-currentFinancialInstruments 2023-12-31 SC425418 core:Non-currentFinancialInstruments 2022-12-31 SC425418 core:ShareCapital 2023-12-31 SC425418 core:ShareCapital 2022-12-31 SC425418 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC425418 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC425418 bus:OrdinaryShareClass1 2023-12-31 SC425418 2023-01-01 2023-12-31 SC425418 bus:FilletedAccounts 2023-01-01 2023-12-31 SC425418 bus:SmallEntities 2023-01-01 2023-12-31 SC425418 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC425418 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC425418 bus:Director1 2023-01-01 2023-12-31 SC425418 bus:Director2 2023-01-01 2023-12-31 SC425418 2022-01-01 2022-12-31 SC425418 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC425418 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC425418 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC425418 (Scotland)

REVIE INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

REVIE INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

REVIE INVESTMENTS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
REVIE INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 8,432,000 8,432,000
8,432,000 8,432,000
Current assets
Cash at bank and in hand 441,524 344,885
441,524 344,885
Creditors: amounts falling due within one year 4 ( 646,330) ( 891,494)
Net current liabilities (204,806) (546,609)
Total assets less current liabilities 8,227,194 7,885,391
Creditors: amounts falling due after more than one year 5 ( 672,875) ( 876,875)
Provision for liabilities ( 282,053) ( 282,053)
Net assets 7,272,266 6,726,463
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 7,272,066 6,726,263
Total shareholders' funds 7,272,266 6,726,463

For the financial year ending 31 December 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 Investments Limited (registered number: SC425418) were approved and authorised for issue by the Board of Directors on 20 September 2024. They were signed on its behalf by:

R Leith-Parsons
Director
REVIE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
REVIE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

Revie 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 Scotland. The address of the Company's registered office is 3 Regency Court, Hamilton, ML3 7EA, Scotland, 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

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

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.

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 Profit and Loss Account 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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

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

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

3. Investment property

Investment property
£
Valuation
As at 01 January 2023 8,432,000
As at 31 December 2023 8,432,000

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 6,190,106 6,190,106

4. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 167,857 120,890
Other taxation and social security 35,743 31,999
Other creditors 442,730 738,605
646,330 891,494

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 672,875 876,875

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed to key management personnel 236,280 532,280

Other related party transactions

2023 2022
£ £
Amounts owed to other related parties 876,875 1,080,875