1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 417,950 21,009 11,671 427,288 427,288 417,950 xbrli:pure xbrli:shares iso4217:GBP SC256717 2023-04-01 2024-03-31 SC256717 2024-03-31 SC256717 2023-03-31 SC256717 2022-04-01 2023-03-31 SC256717 2023-03-31 SC256717 2022-03-31 SC256717 core:PlantMachinery 2023-04-01 2024-03-31 SC256717 bus:Director1 2023-04-01 2024-03-31 SC256717 core:PlantMachinery 2023-03-31 SC256717 core:PlantMachinery 2024-03-31 SC256717 core:WithinOneYear 2024-03-31 SC256717 core:WithinOneYear 2023-03-31 SC256717 core:ShareCapital 2024-03-31 SC256717 core:ShareCapital 2023-03-31 SC256717 core:SharePremium 2024-03-31 SC256717 core:SharePremium 2023-03-31 SC256717 core:CapitalRedemptionReserve 2024-03-31 SC256717 core:CapitalRedemptionReserve 2023-03-31 SC256717 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC256717 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC256717 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 SC256717 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 SC256717 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 SC256717 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 SC256717 core:Non-currentFinancialInstruments 2024-03-31 SC256717 core:Non-currentFinancialInstruments 2023-03-31 SC256717 core:PlantMachinery 2023-03-31 SC256717 bus:SmallEntities 2023-04-01 2024-03-31 SC256717 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC256717 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC256717 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC256717 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC256717
Viewforth Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
Viewforth Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
658,057
658,086
Investments
6
427,288
417,950
------------
------------
1,085,345
1,076,036
Current assets
Debtors
7
183
Cash at bank and in hand
32,580
31,776
--------
--------
32,763
31,776
Creditors: amounts falling due within one year
8
6,796
2,340
--------
--------
Net current assets
25,967
29,436
------------
------------
Total assets less current liabilities
1,111,312
1,105,472
Provisions
9,895
6,500
------------
------------
Net assets
1,101,417
1,098,972
------------
------------
Capital and reserves
Called up share capital
55,863
55,863
Share premium account
334,811
334,811
Capital redemption reserve
252,760
252,760
Profit and loss account
457,983
455,538
------------
------------
Shareholders funds
1,101,417
1,098,972
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Viewforth Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Ms J E L Denny
Director
Company registration number: SC256717
Viewforth Investments Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Hope Street, Lanark, ML11 7NL, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents property revenue.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Investment property
Total
£
£
£
Cost or valuation
At 1 April 2023 and 31 March 2024
599
657,894
658,493
----
---------
---------
Depreciation
At 1 April 2023
407
407
Charge for the year
29
29
----
---------
---------
At 31 March 2024
436
436
----
---------
---------
Carrying amount
At 31 March 2024
163
657,894
658,057
----
---------
---------
At 31 March 2023
192
657,894
658,086
----
---------
---------
Investment property fair value at 31 March 2024 is represented by;
£
Valuation in 2017 (52,683)
Cost 710,577
---------
657,894
---------
Investment property was valued on an open market basis on 09 November 2017 by Michael Lane Associates. The directors consider that this represents a current fair valuation of the properties.
6. Investments
Listed investments
£
Cost or valuation
At 1 April 2023
417,950
Additions
21,009
Revaluations
( 11,671)
---------
At 31 March 2024
427,288
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
427,288
---------
At 31 March 2023
417,950
---------
Cost or valuation at 31 March 2024 is represented by:
Listed investments
£
Valuation in 2018
64,614
Valuation in 2019
1,257
Valuation in 2020
(67,927)
Valuation in 2021
100,122
Valuation in 2022
49,214
Valuation in 2023
(35,805)
Valuation in 2024
(11,671)
Cost
327,484
---------
427,288
---------
7. Debtors
2024
2023
£
£
Other debtors
183
----
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
487
839
Other creditors
6,309
1,501
-------
-------
6,796
2,340
-------
-------