Silverfin false false 31/12/2023 01/01/2023 31/12/2023 C Lamanuzzi 26/07/2018 G Lamanuzzi 26/07/2018 E Leith-Parsons 26/07/2018 R Leith-Parsons 25/03/2015 20 September 2024 The principal activity of the Company during the financial year was holding and renting out investment properties. SC501540 2023-12-31 SC501540 bus:Director1 2023-12-31 SC501540 bus:Director2 2023-12-31 SC501540 bus:Director3 2023-12-31 SC501540 bus:Director4 2023-12-31 SC501540 2022-12-31 SC501540 core:CurrentFinancialInstruments 2023-12-31 SC501540 core:CurrentFinancialInstruments 2022-12-31 SC501540 core:ShareCapital 2023-12-31 SC501540 core:ShareCapital 2022-12-31 SC501540 core:RevaluationReserve 2023-12-31 SC501540 core:RevaluationReserve 2022-12-31 SC501540 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC501540 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC501540 bus:OrdinaryShareClass1 2023-12-31 SC501540 2023-01-01 2023-12-31 SC501540 bus:FilletedAccounts 2023-01-01 2023-12-31 SC501540 bus:SmallEntities 2023-01-01 2023-12-31 SC501540 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC501540 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC501540 bus:Director1 2023-01-01 2023-12-31 SC501540 bus:Director2 2023-01-01 2023-12-31 SC501540 bus:Director3 2023-01-01 2023-12-31 SC501540 bus:Director4 2023-01-01 2023-12-31 SC501540 2022-01-01 2022-12-31 SC501540 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC501540 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC501540 (Scotland)

REVIE GROUP HOLDINGS LIMITED

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

REVIE GROUP HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

REVIE GROUP HOLDINGS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
REVIE GROUP HOLDINGS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 1,759,192 1,759,192
1,759,192 1,759,192
Current assets
Debtors 4 0 675
Cash at bank and in hand 231,649 131,502
231,649 132,177
Creditors: amounts falling due within one year 5 ( 1,584,799) ( 1,577,630)
Net current liabilities (1,353,150) (1,445,453)
Total assets less current liabilities 406,042 313,739
Provision for liabilities ( 23,404) ( 23,404)
Net assets 382,638 290,335
Capital and reserves
Called-up share capital 6 100 100
Revaluation reserve 70,211 70,211
Profit and loss account 312,327 220,024
Total shareholders' funds 382,638 290,335

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 Group Holdings Limited (registered number: SC501540) 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 GROUP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
REVIE GROUP HOLDINGS 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 Group Holdings 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.

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 debtors and 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.

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 4 4

3. Investment property

Investment property
£
Valuation
As at 01 January 2023 1,759,192
As at 31 December 2023 1,759,192

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 refernece 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 1,665,577 1,665,577

4. Debtors

2023 2022
£ £
Trade debtors 0 675

5. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 28,328 20,802
Other taxation and social security 4,796 5,233
Other creditors 1,551,675 1,551,595
1,584,799 1,577,630

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due to key management personnel 1,550,000 1,550,000