Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Drew Graham Webster 12/03/2012 Kevin Scott Webster 12/03/2012 29 November 2024 The principal activity of the Company during the financial year was that of the purchase and sale of real estate. SC419135 2024-03-31 SC419135 bus:Director1 2024-03-31 SC419135 bus:Director2 2024-03-31 SC419135 2023-03-31 SC419135 core:CurrentFinancialInstruments 2024-03-31 SC419135 core:CurrentFinancialInstruments 2023-03-31 SC419135 core:ShareCapital 2024-03-31 SC419135 core:ShareCapital 2023-03-31 SC419135 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC419135 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC419135 bus:OrdinaryShareClass1 2024-03-31 SC419135 2023-04-01 2024-03-31 SC419135 bus:FilletedAccounts 2023-04-01 2024-03-31 SC419135 bus:SmallEntities 2023-04-01 2024-03-31 SC419135 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC419135 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC419135 bus:Director1 2023-04-01 2024-03-31 SC419135 bus:Director2 2023-04-01 2024-03-31 SC419135 2022-04-01 2023-03-31 SC419135 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC419135 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC419135 (Scotland)

VISTA DEVELOPMENTS (FORFAR) LTD

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

VISTA DEVELOPMENTS (FORFAR) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

VISTA DEVELOPMENTS (FORFAR) LTD

BALANCE SHEET

AS AT 31 MARCH 2024
VISTA DEVELOPMENTS (FORFAR) LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Current assets
Stocks 3 132,781 133,236
Cash at bank and in hand 4 621,189 616,976
753,970 750,212
Creditors: amounts falling due within one year 5 ( 215,446) ( 223,994)
Net current assets 538,524 526,218
Total assets less current liabilities 538,524 526,218
Net assets 538,524 526,218
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 538,424 526,118
Total shareholders' funds 538,524 526,218

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 Developments (Forfar) Ltd (registered number: SC419135) 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 DEVELOPMENTS (FORFAR) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
VISTA DEVELOPMENTS (FORFAR) 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 Developments (Forfar) 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, 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 the sale of real estate and other related services.

Revenue is recognised when the company has entitlement to the income in exchange for the sale of real estate and other related services.

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.

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).

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. 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 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.

2. Employees

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

3. Stocks

2024 2023
£ £
Work in progress 132,781 133,236

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 66,501 616,976
Short-term deposits 554,688 0
621,189 616,976

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 967
Taxation and social security 3,417 10,952
Other creditors 212,029 212,075
215,446 223,994

6. Called-up share capital

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

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 180,000 180,000

The above loans are unsecured, interest free and repayable on demand.