Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Clair Smith 05/12/2007 Graeme Smith 05/12/2007 27 March 2025 The principal activity of the Company during the financial year was that of management consultancy and programme management. SC334888 2024-03-31 SC334888 bus:Director1 2024-03-31 SC334888 bus:Director2 2024-03-31 SC334888 2023-03-31 SC334888 core:CurrentFinancialInstruments 2024-03-31 SC334888 core:CurrentFinancialInstruments 2023-03-31 SC334888 core:Non-currentFinancialInstruments 2024-03-31 SC334888 core:Non-currentFinancialInstruments 2023-03-31 SC334888 core:ShareCapital 2024-03-31 SC334888 core:ShareCapital 2023-03-31 SC334888 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC334888 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC334888 core:FurnitureFittings 2023-03-31 SC334888 core:ComputerEquipment 2023-03-31 SC334888 core:FurnitureFittings 2024-03-31 SC334888 core:ComputerEquipment 2024-03-31 SC334888 2022-03-31 SC334888 bus:OrdinaryShareClass1 2024-03-31 SC334888 bus:OrdinaryShareClass2 2024-03-31 SC334888 bus:OrdinaryShareClass3 2024-03-31 SC334888 2023-04-01 2024-03-31 SC334888 bus:FilletedAccounts 2023-04-01 2024-03-31 SC334888 bus:SmallEntities 2023-04-01 2024-03-31 SC334888 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC334888 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC334888 bus:Director1 2023-04-01 2024-03-31 SC334888 bus:Director2 2023-04-01 2024-03-31 SC334888 core:FurnitureFittings 2023-04-01 2024-03-31 SC334888 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 SC334888 2022-04-01 2023-03-31 SC334888 core:ComputerEquipment 2023-04-01 2024-03-31 SC334888 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 SC334888 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 SC334888 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC334888 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC334888 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 SC334888 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 SC334888 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 SC334888 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC334888 (Scotland)

VIEWBANK CONSULTANCY LIMITED

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

VIEWBANK CONSULTANCY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

VIEWBANK CONSULTANCY LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
VIEWBANK CONSULTANCY LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 500 599
500 599
Current assets
Debtors 4 131,374 112,641
Cash at bank and in hand 5 26 151
131,400 112,792
Creditors: amounts falling due within one year 6 ( 114,145) ( 90,489)
Net current assets 17,255 22,303
Total assets less current liabilities 17,755 22,902
Creditors: amounts falling due after more than one year 7 ( 20,918) ( 21,894)
Provision for liabilities 8, 9 ( 125) ( 150)
Net (liabilities)/assets ( 3,288) 858
Capital and reserves
Called-up share capital 10 30 30
Profit and loss account ( 3,318 ) 828
Total shareholders' (deficit)/funds ( 3,288) 858

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Viewbank Consultancy Limited (registered number: SC334888) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Graeme Smith
Director
VIEWBANK CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
VIEWBANK CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 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

Viewbank Consultancy 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 financial statements have been prepared under the historical cost convention 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

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. The company is experiencing cash flow issues. At 31 March 2024 , there are amounts due to the company from the directors totalling £108,609 and there is some concern regarding the ability for this to be repaid.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT imputed under the flat rate scheme.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

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.

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 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:

Fixtures and fittings 20 % reducing balance
Computer equipment 3 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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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 bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

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.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

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

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 April 2023 1,510 2,370 3,880
Additions 0 209 209
At 31 March 2024 1,510 2,579 4,089
Accumulated depreciation
At 01 April 2023 1,281 2,000 3,281
Charge for the financial year 46 262 308
At 31 March 2024 1,327 2,262 3,589
Net book value
At 31 March 2024 183 317 500
At 31 March 2023 229 370 599

4. Debtors

2024 2023
£ £
Trade debtors 0 5,400
Other debtors 131,374 107,241
131,374 112,641

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 26 151

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,774 5,750
Corporation tax 36,539 25,944
Other taxation and social security 40,785 31,065
Other creditors 31,047 27,730
114,145 90,489

Included in bank loans is a bounce back loan, advanced to the company in the year ending 31 March 2021, which is covered by a government backed guarantee.

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

2024 2023
£ £
Bank loans 20,918 21,894

Included in bank loans is a bounce back loan, advanced to the company in the year ending 31 March 2021, which is covered by a government backed guarantee.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 125 150

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 150) ( 269)
Credited to the Statement of Income and Retained Earnings 25 119
At the end of financial year ( 125) ( 150)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 A ordinary shares of £ 1.00 each 10 10
10 B ordinary shares of £ 1.00 each 10 10
10 C ordinary shares of £ 1.00 each 10 10
30 30

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due by directors 108,609 85,392

Advances

During the year the company advanced £62,233 to the directors and was repaid £41,567. Interest of £2,551 was charged to the directors at a rate of 2.25%. At the balance sheet date the directors owed the company £108,609 (2023 - £85,392). The loan is unsecured and has no fixed terms of repayment. Taxation under S455 has been applied on balances not repaid within 9 months and one day of the company year end.

12. Dividends

At the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.