Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr W McAneney 07/01/2022 Mr A McCartney 07/01/2022 Andrew James Mccartney 30 January 2025 The principal activity of the Company during the financial period was that of subletting public house property. SC719116 2024-01-31 SC719116 bus:Director1 2024-01-31 SC719116 bus:Director2 2024-01-31 SC719116 2023-01-31 SC719116 core:CurrentFinancialInstruments 2024-01-31 SC719116 core:CurrentFinancialInstruments 2023-01-31 SC719116 core:ShareCapital 2024-01-31 SC719116 core:ShareCapital 2023-01-31 SC719116 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC719116 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC719116 core:LandBuildings 2023-01-31 SC719116 core:OtherPropertyPlantEquipment 2023-01-31 SC719116 core:LandBuildings 2024-01-31 SC719116 core:OtherPropertyPlantEquipment 2024-01-31 SC719116 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-01-31 SC719116 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 SC719116 bus:OrdinaryShareClass1 2024-01-31 SC719116 2023-02-01 2024-01-31 SC719116 bus:FilletedAccounts 2023-02-01 2024-01-31 SC719116 bus:SmallEntities 2023-02-01 2024-01-31 SC719116 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC719116 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC719116 bus:Director1 2023-02-01 2024-01-31 SC719116 bus:Director2 2023-02-01 2024-01-31 SC719116 bus:Director3 2023-02-01 2024-01-31 SC719116 core:LandBuildings 2023-02-01 2024-01-31 SC719116 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 SC719116 2022-02-01 2023-01-31 SC719116 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC719116 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC719116 (Scotland)

AVIV RES LTD

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

AVIV RES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

AVIV RES LTD

BALANCE SHEET

AS AT 31 JANUARY 2024
AVIV RES LTD

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 174,684 218,355
174,684 218,355
Current assets
Debtors 4 94,055 503,224
Cash at bank and in hand 4,251 318
98,306 503,542
Creditors: amounts falling due within one year 5 ( 292,737) ( 716,236)
Net current liabilities (194,431) (212,694)
Total assets less current liabilities (19,747) 5,661
Net (liabilities)/assets ( 19,747) 5,661
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 19,749 ) 5,659
Total shareholders' (deficit)/funds ( 19,747) 5,661

For the financial year ending 31 January 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 AVIV Res Ltd (registered number: SC719116) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

Andrew James Mccartney
Director
AVIV RES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
AVIV RES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 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

AVIV Res 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 227 West George Street, Glasgow, G2 2ND, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 note that the business has net liabilities of £19,747. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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 goods and 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.

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 20 % reducing balance
Plant and machinery etc. 20 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 2 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 February 2023 4,685 262,997 267,682
At 31 January 2024 4,685 262,997 267,682
Accumulated depreciation
At 01 February 2023 937 48,390 49,327
Charge for the financial year 750 42,921 43,671
At 31 January 2024 1,687 91,311 92,998
Net book value
At 31 January 2024 2,998 171,686 174,684
At 31 January 2023 3,748 214,607 218,355

4. Debtors

2024 2023
£ £
Amounts owed by related parties 72,411 484,476
Other debtors 21,644 18,748
94,055 503,224

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,838 41,723
Amounts owed to related parties 130,173 277,003
Other taxation and social security 0 1,066
Other creditors 158,726 396,444
292,737 716,236

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to key management personnel 115,692 67,981

These loans are interest free and have no fixed repayment terms.

Other related party transactions

2024 2023
£ £
Amounts owed to related parties 130,173 277,003
Amounts owed by related parties 72,411 484,476

These loans are interest free and have no fixed repayment terms.