Registered number
11264097
Vivir Properties Ltd
Filleted Accounts
31 March 2024
Vivir Properties Ltd
Registered number: 11264097
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,590,576 716,409
Debtors 3 2,490,573 1,922,533
Cash at bank and in hand 62,225 217,235
4,143,374 2,856,177
Creditors: amounts falling due within one year 4 (3,564,685) (1,257,215)
Net current assets 578,689 1,598,962
Total assets less current liabilities 578,689 1,598,962
Creditors: amounts falling due after more than one year 5 (1,035,606) (2,036,010)
Net liabilities (456,917) (437,048)
Capital and reserves
Called up share capital 4 4
Profit and loss account (456,921) (437,052)
Shareholders' funds (456,917) (437,048)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs H Fitzsimmons
Director
Approved by the board on 14 October 2024
Vivir Properties Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The company has net liabilities. The company is reliant on the support of the directors. On the basis that the directors will continue to support the reporting entity for the forseeable future, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2024 2023
£ £
Trade debtors 13 13,209
Other debtors 2,490,560 1,909,324
2,490,573 1,922,533
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,555 5,555
Trade creditors 648,625 99,064
Taxation and social security costs 1,134 2,299
Other creditors 2,909,371 1,150,297
3,564,685 1,257,215
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 32,884 34,260
Other creditors 1,002,722 2,001,750
1,035,606 2,036,010
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 675,820 -
MSP Capital Ltd have a fixed and floating charge on the Land and Buildings forming part of Herons Green, Dorchester. MSP Capital Ltd have a fixed and floating charge on various properties and land at Pennsylvania Way, Portland.
7 Related party transactions
The company is owed £290,728 from Anzen Properties at 31/3/24 (2023 £1,204,000) a company of which Mr E Fitzsimmons is a shareholder and director. The company is owed £30,024 by Vivir Developments Ltd at 31/3/24 (2023 £19,839) a company of which Mr E Fitzsimmons is a shareholder and director. The company is owed £181,970 by Vivir Estates Ltd at 31/3/24 (2023 £133,917) a company of which Mr E Fitzsimmons is a shareholder and director. The company is owed £979,862 by Vivir Properties (Dorset) Ltd at 31/3/24 (2023 £535,464) a company of which Mr E Fitzsimmons is a shareholder and director. The company owes £393,900 to Anzen South West Ltd at 31/3/24 (2023 £394,050) a company of which Mr E Fitzsimmons is a shareholder and director. The company owes £328,000 to Edward Fitzsimmons Associates Ltd at 31/3/23 (2023 £239,400) a company of which Mr E Fitzsimmons is a shareholder and director. The company is owed £5,250 by Pen Heights Energy Ltd at 31/3/24 (2023 £16,100) a company of which Mr E Fitzsimons is a shareholder and director.
8 Controlling party
The company is controlled by Mr E Fitzsimmon by virtue of his shareholding.
9 Other information
Vivir Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21a Whitecliff Road
Poole
BH14 8DU
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