Company Registration No. SC512498 (Scotland)
Vitota Property Management Limited
Unaudited accounts
for the year ended 31 August 2024
Vitota Property Management Limited
Unaudited accounts
Contents
Vitota Property Management Limited
Company Information
for the year ended 31 August 2024
Director
Victoria Mei Yi Lau
Company Number
SC512498 (Scotland)
Registered Office
5 South Charlotte Street
Edinburgh
EH2 4AN
Scotland
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Vitota Property Management Limited
Accountants' report
Accountants' report to the director of Vitota Property Management Limited on the preparation of the unaudited statutory accounts for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Vitota Property Management Limited for the year ended
31 August 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Vitota Property Management Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Vitota Property Management Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vitota Property Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Vitota Property Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vitota Property Management Limited. You consider that Vitota Property Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Vitota Property Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
14 April 2025
Vitota Property Management Limited
Statement of financial position
as at 31 August 2024
Investment property
120,000
268,000
Cash at bank and in hand
32,397
48,072
Creditors: amounts falling due within one year
(24,055)
(85,281)
Net current assets/(liabilities)
9,672
(35,414)
Total assets less current liabilities
130,547
232,586
Creditors: amounts falling due after more than one year
(69,250)
(176,500)
Provisions for liabilities
Deferred tax
(7,775)
(7,775)
Called up share capital
100
100
Revaluation reserve
23,326
36,643
Profit and loss account
30,096
11,568
Shareholders' funds
53,522
48,311
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 May 2025 and were signed on its behalf by
Victoria Mei Yi Lau
Director
Company Registration No. SC512498
Vitota Property Management Limited
Notes to the Accounts
for the year ended 31 August 2024
Vitota Property Management Limited is a private company, limited by shares, registered in Scotland, registration number SC512498. The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Between 25% and 33% on cost
Computer equipment
33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
Vitota Property Management Limited
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
4,851
998
5,849
At 31 August 2024
4,851
1,967
6,818
At 1 September 2023
4,851
998
5,849
Charge for the year
-
94
94
At 31 August 2024
4,851
1,092
5,943
At 31 August 2024
-
875
875
Fair value at 1 September 2023
268,000
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
3,206
2,602
Other creditors
1,330
1,329
Loans from directors
18,739
80,570
8
Creditors: amounts falling due after more than one year
2024
2023
Aggregate of amounts that fall due for payment after five years
64,000
165,250
Included in long term creditors is a bank loan secured on the investment property. A personal guarantee has been provided.
Vitota Property Management Limited
Notes to the Accounts
for the year ended 31 August 2024
9
Deferred taxation
2024
2023
Revaluation of land and buildings
7,775
7,775
Provision at start of year
7,775
-
Charged to the profit and loss account
-
7,775
Provision at end of year
7,775
7,775
Comparatives have been restated for deferred tax on revaluation of investment properties.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).