Silverfin false false 30/04/2024 01/05/2023 30/04/2024 H Brown 31/03/2010 N Leake 31/03/2010 S Main 16/05/2002 D Mcwhirter 16/05/2002 23 January 2025 The principal activity of the Company continued to be that of property rental. SC230988 2024-04-30 SC230988 bus:Director1 2024-04-30 SC230988 bus:Director2 2024-04-30 SC230988 bus:Director3 2024-04-30 SC230988 bus:Director4 2024-04-30 SC230988 2023-04-30 SC230988 core:CurrentFinancialInstruments 2024-04-30 SC230988 core:CurrentFinancialInstruments 2023-04-30 SC230988 core:ShareCapital 2024-04-30 SC230988 core:ShareCapital 2023-04-30 SC230988 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC230988 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC230988 core:OtherPropertyPlantEquipment 2023-04-30 SC230988 core:OtherPropertyPlantEquipment 2024-04-30 SC230988 bus:OrdinaryShareClass1 2024-04-30 SC230988 2023-05-01 2024-04-30 SC230988 bus:FilletedAccounts 2023-05-01 2024-04-30 SC230988 bus:SmallEntities 2023-05-01 2024-04-30 SC230988 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC230988 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC230988 bus:Director1 2023-05-01 2024-04-30 SC230988 bus:Director2 2023-05-01 2024-04-30 SC230988 bus:Director3 2023-05-01 2024-04-30 SC230988 bus:Director4 2023-05-01 2024-04-30 SC230988 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 SC230988 2022-05-01 2023-04-30 SC230988 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC230988 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC230988 (Scotland)

VINEQUEST LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

VINEQUEST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

VINEQUEST LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
VINEQUEST LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 450,000 450,000
450,000 450,000
Current assets
Debtors 5 21,159 46,156
Cash at bank and in hand 103,786 107,195
124,945 153,351
Creditors: amounts falling due within one year 6 ( 18,592) ( 25,118)
Net current assets 106,353 128,233
Total assets less current liabilities 556,353 578,233
Net assets 556,353 578,233
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 556,253 578,133
Total shareholders' funds 556,353 578,233

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Vinequest Limited (registered number: SC230988) were approved and authorised for issue by the Board of Directors on 23 January 2025. They were signed on its behalf by:

H Brown
Director
VINEQUEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
VINEQUEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 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

Vinequest Limited (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 C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom. The principal place of business is Inchmerle, Nelson Road, Forres, IV30 0OR.

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 income from rental properties.

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.

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 basis over its expected useful life, as follows:

Plant and machinery etc. 6.66 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.

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.

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 receivables 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.

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.

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

Basic financial liabilities
Basic financial liabilities, including creditors.

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.

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 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 1,473 1,473
At 30 April 2024 1,473 1,473
Accumulated depreciation
At 01 May 2023 1,473 1,473
At 30 April 2024 1,473 1,473
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 450,000
As at 30 April 2024 450,000

The directors have assessed the value of investment properties at 30 April 2024 on an open market basis.

5. Debtors

2024 2023
£ £
Corporation tax 11,647 11,647
Other debtors 9,512 34,509
21,159 46,156

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 5,786 17,718
Other creditors 12,806 7,400
18,592 25,118

7. Called-up share capital

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

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due from related parties 4,106 34,509

Advances

With an opening balance of £34,509, advances of £27,225 were made in the year with repayments of £58,271, with interest charged at £643 (2.25%). As at 30 April 2024, the total combined balance owed by directors is £4,106. This balance has no fixed terms of repayment.