Silverfin false false 30/06/2024 12/01/2023 30/06/2024 Mr C Lamanuzzi 12/01/2023 Mr E F Leith-Parsons 12/01/2023 Ms R S Leith-Parsons 12/01/2023 MS R S Leith-Parsons 09 October 2024 The principal activity of the Company is that of buying and selling real estate. SC755107 2024-06-30 SC755107 bus:Director1 2024-06-30 SC755107 bus:Director2 2024-06-30 SC755107 bus:Director3 2024-06-30 SC755107 core:CurrentFinancialInstruments 2024-06-30 SC755107 core:ShareCapital 2024-06-30 SC755107 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC755107 2023-01-11 SC755107 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-06-30 SC755107 bus:OrdinaryShareClass1 2024-06-30 SC755107 2023-01-12 2024-06-30 SC755107 bus:FilletedAccounts 2023-01-12 2024-06-30 SC755107 bus:SmallEntities 2023-01-12 2024-06-30 SC755107 bus:AuditExemptWithAccountantsReport 2023-01-12 2024-06-30 SC755107 bus:PrivateLimitedCompanyLtd 2023-01-12 2024-06-30 SC755107 bus:Director1 2023-01-12 2024-06-30 SC755107 bus:Director2 2023-01-12 2024-06-30 SC755107 bus:Director3 2023-01-12 2024-06-30 SC755107 bus:Director4 2023-01-12 2024-06-30 SC755107 bus:OrdinaryShareClass1 2023-01-12 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC755107 (Scotland)

REVIE RESIDENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 12 JANUARY 2023 TO 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

REVIE RESIDENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 12 JANUARY 2023 TO 30 JUNE 2024

Contents

REVIE RESIDENTIAL LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
REVIE RESIDENTIAL LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 30.06.2024
£
Fixed assets
Investment property 3 587,444
587,444
Current assets
Cash at bank and in hand 945
945
Creditors: amounts falling due within one year 4 ( 601,910)
Net current liabilities (600,965)
Total assets less current liabilities (13,521)
Net liabilities ( 13,521)
Capital and reserves
Called-up share capital 5 100
Profit and loss account ( 13,621 )
Total shareholder's deficit ( 13,521)

For the financial period ending 30 June 2024 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 Residential Limited (registered number: SC755107) were approved and authorised for issue by the Board of Directors on 09 October 2024. They were signed on its behalf by:

MS R S Leith-Parsons
Director
REVIE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 12 JANUARY 2023 TO 30 JUNE 2024
REVIE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 12 JANUARY 2023 TO 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Revie Residential 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.

Reporting period length

The reporting period length covers 18 months from the date of incorporation on 12 January 2023 to the first financial period end of 30 June 2024. The Company commenced trading on 27 February 2023.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 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, loans from fellow group companies 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

Period from
12.01.2023 to
30.06.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Investment property

Investment property
£
Valuation
As at 12 January 2023 0
Additions 587,444
As at 30 June 2024 587,444

4. Creditors: amounts falling due within one year

30.06.2024
£
Amounts owed to related parties 599,900
Other creditors 2,010
601,910

5. Called-up share capital

30.06.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

6. Related party transactions

Other related party transactions

30.06.2024
£
Amounts due to related parties 599,900

7. Ultimate controlling party

Parent Company:

Revie Enterprises Limited
3 Regency Court, Hamilton, Scotland, ML3 7EA