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REGISTERED NUMBER: 04127771 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

Viewdart Limited

Viewdart Limited (Registered number: 04127771)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Viewdart Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J P W Roe





REGISTERED OFFICE: 1 Fenlake Business Centre
Fengate
Peterborough
Cambridgeshire
PE1 5BQ





REGISTERED NUMBER: 04127771 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Viewdart Limited (Registered number: 04127771)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,842,629 -

CURRENT ASSETS
Debtors 5 857,962 316,556
Cash at bank 32,418 14,747
890,380 331,303
CREDITORS
Amounts falling due within one year 6 1,420,856 82,981
NET CURRENT (LIABILITIES)/ASSETS (530,476 ) 248,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,312,153

248,322

CREDITORS
Amounts falling due after more than one
year

7

4,304,056

240,225
NET ASSETS 8,097 8,097

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 7,997 7,997
SHAREHOLDERS' FUNDS 8,097 8,097

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 17 September 2024 and were signed by:





J P W Roe - Director


Viewdart Limited (Registered number: 04127771)

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

1. STATUTORY INFORMATION

Viewdart Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts are prepared on a going concern basis which assumes that the directors together with North West Steel Limited, the parent company of the group, will continue to support the Company. If this support was not to continue then the basis may not be appropriate.

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents net invoiced provision of services, excluding value added tax.

Turnover is recognised in the year to which it relates.

Tangible fixed assets
Plant and machinery is carried at cost less any accumulated impairment.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provision of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been would the impairment not previously not been recognised.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Viewdart Limited (Registered number: 04127771)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 5,170,161
Impairments (327,532 )
At 31 December 2023 4,842,629
NET BOOK VALUE
At 31 December 2023 4,842,629

An impairment charge is recognised in the statement of profit or loss whenever the carrying amount of an asset exceeds its recoverable amount.

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 758,920 -
Other debtors 99,042 218,776
857,962 218,776

Amounts falling due after more than one year:
Other debtors - 97,780

Aggregate amounts 857,962 316,556

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 44,245 4,218
Amounts owed to group undertakings 1,199,766 -
Taxation and social security 170,650 74,874
Other creditors 6,195 3,889
1,420,856 82,981

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 238,789
Other creditors 4,304,056 1,436
4,304,056 240,225

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Viewdart Limited (Registered number: 04127771)

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Entities Under Common Control

The company charged £638,920 (2022: £150,000) for travel costs to related parties.

At the year end, a balance of £3,543,700 was owed to (2022: £87,780 owed by) related parties.

11. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is North West Steel Limited. The registered office of the parent undertaking is 1 Fenlake Business Centre, Fengate, Peterborough, Cambridgeshire, PE1 5BQ. This is also the principle place of business.