Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Drew Graham Webster 30/08/2013 Kevin Scott Webster 30/08/2013 29 November 2024 The principal activity of the Company during the financial year was that of the lease of commercial properties. SC458050 2024-03-31 SC458050 bus:Director1 2024-03-31 SC458050 bus:Director2 2024-03-31 SC458050 2023-03-31 SC458050 core:CurrentFinancialInstruments 2024-03-31 SC458050 core:CurrentFinancialInstruments 2023-03-31 SC458050 core:ShareCapital 2024-03-31 SC458050 core:ShareCapital 2023-03-31 SC458050 core:RevaluationReserve 2024-03-31 SC458050 core:RevaluationReserve 2023-03-31 SC458050 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC458050 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC458050 core:OtherPropertyPlantEquipment 2023-03-31 SC458050 core:OtherPropertyPlantEquipment 2024-03-31 SC458050 2022-03-31 SC458050 bus:OrdinaryShareClass1 2024-03-31 SC458050 2023-04-01 2024-03-31 SC458050 bus:FilletedAccounts 2023-04-01 2024-03-31 SC458050 bus:SmallEntities 2023-04-01 2024-03-31 SC458050 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC458050 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC458050 bus:Director1 2023-04-01 2024-03-31 SC458050 bus:Director2 2023-04-01 2024-03-31 SC458050 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 SC458050 2022-04-01 2023-03-31 SC458050 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC458050 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC458050 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC458050 (Scotland)

VISTA COMMERCIAL PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

VISTA COMMERCIAL PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

VISTA COMMERCIAL PROPERTIES LTD

BALANCE SHEET

AS AT 31 MARCH 2024
VISTA COMMERCIAL PROPERTIES LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,457 1,379
Investment property 4 780,000 780,000
783,457 781,379
Current assets
Debtors 5 4,258 8,870
Cash at bank and in hand 6 158,010 105,558
162,268 114,428
Creditors: amounts falling due within one year 7 ( 465,386) ( 461,687)
Net current liabilities (303,118) (347,259)
Total assets less current liabilities 480,339 434,120
Provision for liabilities 8, 9 ( 62,508) ( 61,989)
Net assets 417,831 372,131
Capital and reserves
Called-up share capital 10 100 100
Revaluation reserve 223,480 223,480
Profit and loss account 194,251 148,551
Total shareholders' funds 417,831 372,131

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 Vista Commercial Properties Ltd (registered number: SC458050) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

Kevin Scott Webster
Director
VISTA COMMERCIAL PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
VISTA COMMERCIAL PROPERTIES LTD

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

Vista Commercial Properties Ltd (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 109 East High Street, Forfar, DD8 2EQ, 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 £.

Turnover

Turnover represents amounts receivable for property rental net of VAT.

Rental income is recognised on a straight line basis over the term of the lease. Service charge income is recognised on an accruals basis.

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:

Plant and machinery etc. 5 years straight line

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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).

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.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation 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.

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

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 18,850 18,850
Additions 2,700 2,700
At 31 March 2024 21,550 21,550
Accumulated depreciation
At 01 April 2023 17,471 17,471
Charge for the financial year 622 622
At 31 March 2024 18,093 18,093
Net book value
At 31 March 2024 3,457 3,457
At 31 March 2023 1,379 1,379

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 780,000
As at 31 March 2024 780,000

Valuation

Investment properties were valued by the directors at open market value on 31 March 2024 at £780,000.

5. Debtors

2024 2023
£ £
Trade debtors 2,293 6,722
Other debtors 1,965 2,148
4,258 8,870

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 158,010 105,558

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,873 8,987
Taxation and social security 17,025 11,191
Other creditors 441,488 441,509
465,386 461,687

8. Provision for liabilities

2024 2023
£ £
Deferred tax 62,508 61,989

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 61,989) ( 62,077)
(Charged)/credited to the Profit and Loss Account ( 519) 88
At the end of financial year ( 62,508) ( 61,989)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

11. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed to directors 362,810 362,810

Other related party transactions

2024 2023
£ £
Amounts owed to related parties 69,025 69,025

The loan accounts are unsecured, interest free and repayable on demand.