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Company No: 13679011 (England and Wales)

VISTAURO BEAUMONT LTD

Unaudited Financial Statements
For the financial period ended 31 October 2024
Pages for filing with the registrar

VISTAURO BEAUMONT LTD

Unaudited Financial Statements

For the financial period ended 31 October 2024

Contents

VISTAURO BEAUMONT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
VISTAURO BEAUMONT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,142,000 1,250,000
1,142,000 1,250,000
Current assets
Debtors 4 15,847 19,610
Cash at bank and in hand 4,393 12,811
20,240 32,421
Creditors: amounts falling due within one year 5 ( 64,879) ( 56,579)
Net current liabilities (44,639) (24,158)
Total assets less current liabilities 1,097,361 1,225,842
Creditors: amounts falling due after more than one year 6 ( 824,688) ( 824,688)
Provision for liabilities 7 ( 57,624) ( 84,624)
Net assets 215,049 316,530
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 172,871 253,871
Profit and loss account 42,078 62,559
Total shareholder's funds 215,049 316,530

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Vistauro Beaumont Ltd (registered number: 13679011) were approved and authorised for issue by the Director. They were signed on its behalf by:

D S Bardiger
Director

27 February 2025

VISTAURO BEAUMONT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 October 2024
VISTAURO BEAUMONT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Vistauro Beaumont Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 12 Devonshire Road, London, W4 2HD, 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 comprises of revenue recognised by the company in respect of rental income over the period for which it was due.

Taxation


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.

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 director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) 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 Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the period, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 1,250,000
Fair value movement (108,000)
As at 31 October 2024 1,142,000

Valuation

The 2024 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 911,506 911,506

4. Debtors

2024 2023
£ £
Prepayments 15,847 19,610

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 46,600 28,400
Accruals and deferred income 3,779 9,935
CIS withheld 0 63
Taxation and social security 0 18,181
Other creditors 14,500 0
64,879 56,579

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 824,688 824,688

The bank loan included in creditors is secured by fixed and floating charges over the properties held in investment.

7. Deferred tax

2024 2023
£ £
At the beginning of financial period ( 84,624) ( 132,288)
Credited to the Profit and Loss Account 27,000 47,664
At the end of financial period ( 57,624) ( 84,624)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Revaluation of investment property ( 57,624) ( 84,624)

8. Called-up share capital

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

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Included within other creditors is a balance owed to the director. The balance is unsecured and interest free with no fixed repayment terms. 46,600 28,400

Other related party transactions

2024 2023
£ £
Included within other creditors is a balance owed to companies under common control. The balance is unsecured and interest free with no fixed repayment terms. 14,500 0