Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J P Collier C R Collier 22 November 2024 The principal activity of the Company during the financial year was the letting of investment property. 10090801 2024-03-31 10090801 2023-03-31 10090801 core:CurrentFinancialInstruments 2024-03-31 10090801 core:CurrentFinancialInstruments 2023-03-31 10090801 core:Non-currentFinancialInstruments 2024-03-31 10090801 core:Non-currentFinancialInstruments 2023-03-31 10090801 core:ShareCapital 2024-03-31 10090801 core:ShareCapital 2023-03-31 10090801 core:RetainedEarningsAccumulatedLosses 2024-03-31 10090801 core:RetainedEarningsAccumulatedLosses 2023-03-31 10090801 core:LandBuildings 2023-03-31 10090801 core:LandBuildings 2024-03-31 10090801 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 10090801 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 10090801 2023-04-01 2024-03-31 10090801 bus:FilletedAccounts 2023-04-01 2024-03-31 10090801 bus:SmallEntities 2023-04-01 2024-03-31 10090801 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10090801 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10090801 bus:Director1 2023-04-01 2024-03-31 10090801 bus:Director2 2023-04-01 2024-03-31 10090801 2022-04-01 2023-03-31 10090801 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10090801 (England and Wales)

PROPERTY VISTA LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PROPERTY VISTA LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PROPERTY VISTA LIMITED

BALANCE SHEET

As at 31 March 2024
PROPERTY VISTA LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,000 1,000
1,000 1,000
Current assets
Stocks 4 573,614 573,614
Debtors 5 1,237 1,370
Cash at bank and in hand 1,948 2,237
576,799 577,221
Creditors: amounts falling due within one year 6 ( 321,284) ( 320,560)
Net current assets 255,515 256,661
Total assets less current liabilities 256,515 257,661
Creditors: amounts falling due after more than one year 7 ( 264,050) ( 264,000)
Net liabilities ( 7,535) ( 6,339)
Capital and reserves
Called-up share capital 10 10
Profit and loss account ( 7,545 ) ( 6,349 )
Total shareholders' deficit ( 7,535) ( 6,339)

For the financial year ending 31 March 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 Property Vista Limited (registered number: 10090801) were approved and authorised for issue by the Board of Directors on 22 November 2024. They were signed on its behalf by:

J P Collier
Director
PROPERTY VISTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PROPERTY VISTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Property Vista Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The White House, Clifton Marine Parade, Gravesend, Kent, DA11 0DY, 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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 debtors 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 April 2023 1,000 1,000
At 31 March 2024 1,000 1,000
Accumulated depreciation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 1,000 1,000
At 31 March 2023 1,000 1,000

4. Stocks

2024 2023
£ £
Work in progress 573,614 573,614

5. Debtors

2024 2023
£ £
Other debtors 1,237 1,370

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 210 0
Amounts owed to Parent undertakings 1,000 1,000
Other creditors 320,074 319,560
321,284 320,560

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 264,050 264,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed to group companies 1,000 1,000

Transactions with the entity's directors

2024 2023
£ £
Amounts payable to key management 317,161 317,161

Amounts payable to key management are provided interest free, are unsecured and repayable on demand.