Company registration number 11781443 (England and Wales)
VIKING INTERNATIONAL PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
VIKING INTERNATIONAL PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
VIKING INTERNATIONAL PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 JANUARY 2024
30 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
3,152
Current assets
Debtors
4
187,014
171,916
Cash at bank and in hand
3,249
1,882
190,263
173,798
Creditors: amounts falling due within one year
5
(200,452)
(184,357)
Net current liabilities
(10,189)
(10,559)
Total assets less current liabilities
(10,189)
(7,407)
Creditors: amounts falling due after more than one year
6
(8,047)
(8,900)
Net liabilities
(18,236)
(16,307)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(18,336)
(16,407)
Total equity
(18,236)
(16,307)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
L K M Ljungkvist
Director
Company registration number 11781443 (England and Wales)
VIKING INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Viking International Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is James House, Stonecross Business Park, Yew Tree Way, Warrington, Cheshire, WA3 3JD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At 31 January 2024, the company had net liabilities of £18,236. The company has received confirmation from its creditors that they will provide support for a period of at least one year from the date of approval of these financial statements.true

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
5 years on a straight line basis
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

VIKING INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.5
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 current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

VIKING INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
VIKING INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
- 5 -
3
Intangible fixed assets
Other
£
Cost
At 31 January 2023 and 30 January 2024
15,768
Amortisation and impairment
At 31 January 2023
12,616
Amortisation charged for the year
3,152
At 30 January 2024
15,768
Carrying amount
At 30 January 2024
-
0
At 30 January 2023
3,152
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
187,014
171,916
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,360
1,588
Other creditors
199,092
182,769
200,452
184,357
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
8,047
8,900
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Directors' transactions

Included within other creditors are amounts owed to the directors of £79,537 (2023: £75,990).

2024-01-302023-01-31falseCCH SoftwareCCH Accounts Production 2024.200No description of principal activityP M SydbergL K M Ljungkvistfalsefalse117814432023-01-312024-01-30117814432024-01-30117814432023-01-3011781443core:IntangibleAssetsOtherThanGoodwill2024-01-3011781443core:IntangibleAssetsOtherThanGoodwill2023-01-3011781443core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3011781443core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3011781443core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3011781443core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3011781443core:CurrentFinancialInstruments2024-01-3011781443core:CurrentFinancialInstruments2023-01-3011781443core:ShareCapital2024-01-3011781443core:ShareCapital2023-01-3011781443core:RetainedEarningsAccumulatedLosses2024-01-3011781443core:RetainedEarningsAccumulatedLosses2023-01-3011781443bus:Director22023-01-312024-01-3011781443core:IntangibleAssetsOtherThanGoodwill2023-01-312024-01-3011781443core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-312024-01-30117814432022-02-012023-01-3011781443core:IntangibleAssetsOtherThanGoodwill2023-01-3011781443core:WithinOneYear2024-01-3011781443core:WithinOneYear2023-01-3011781443core:Non-currentFinancialInstruments2024-01-3011781443core:Non-currentFinancialInstruments2023-01-3011781443bus:PrivateLimitedCompanyLtd2023-01-312024-01-3011781443bus:SmallCompaniesRegimeForAccounts2023-01-312024-01-3011781443bus:FRS1022023-01-312024-01-3011781443bus:AuditExemptWithAccountantsReport2023-01-312024-01-3011781443bus:Director12023-01-312024-01-3011781443bus:FullAccounts2023-01-312024-01-30xbrli:purexbrli:sharesiso4217:GBP