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REGISTERED NUMBER: 03682907 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VIEWMASTER LTD

VIEWMASTER LTD (REGISTERED NUMBER: 03682907)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VIEWMASTER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs R Schwartz





SECRETARY: N Schwartz





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03682907 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 499 587
Investment property 6 1,750,000 1,750,000
1,750,499 1,750,587

CURRENT ASSETS
Debtors 7 843,475 829,793
Cash at bank 40,805 68,987
884,280 898,780
CREDITORS
Amounts falling due within one year 8 (248,751 ) (249,900 )
NET CURRENT ASSETS 635,529 648,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,386,028

2,399,467

CREDITORS
Amounts falling due after more than one
year

9

(655,568

)

(686,316

)
NET ASSETS 1,730,460 1,713,151

CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 13 1,217,608 1,217,608
Retained earnings 13 512,851 495,542
SHAREHOLDERS' FUNDS 1,730,460 1,713,151

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

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

The director acknowledges her 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.

VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 and authorized for issue by the director and authorised for issue on 26 September 2024 and were signed by:





Mrs R Schwartz - Director


VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Viewmaster Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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 statement of financial position date.


VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 5,200
DEPRECIATION
At 1 January 2023 4,613
Charge for year 88
At 31 December 2023 4,701
NET BOOK VALUE
At 31 December 2023 499
At 31 December 2022 587

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,750,000
NET BOOK VALUE
At 31 December 2023 1,750,000
At 31 December 2022 1,750,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 1,217,608
Cost 532,392
1,750,000

VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. INVESTMENT PROPERTY - continued

The director has confirmed that there is no significant increase or decrease in the property market value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,000 4,000
Other debtors 839,475 825,793
843,475 829,793

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 8,065 9,335
Other creditors 240,686 240,565
248,751 249,900

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 10) 655,568 686,316

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 582,368 594,568
Bank loans 37,553 50,544
619,921 645,112

10. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 35,647 41,204

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 582,368 594,568
Bank loans 37,553 50,544
619,921 645,112

VIEWMASTER LTD (REGISTERED NUMBER: 03682907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 655,568 686,316

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £35,647 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 495,542 1,217,608 1,713,150
Profit for the year 17,309 17,309
At 31 December 2023 512,851 1,217,608 1,730,459

14. ULTIMATE CONTROLLING PARTY

The controlling party is D Hoffman.