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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
Page
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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
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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
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Vitota Property Management Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
875 
- 
Investment property
120,000 
268,000 
120,875 
268,000 
Current assets
Debtors
1,330 
1,795 
Cash at bank and in hand
32,397 
48,072 
33,727 
49,867 
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)
Net assets
53,522 
48,311 
Capital and reserves
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
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Vitota Property Management Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
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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 
Additions
- 
969 
969 
At 31 August 2024
4,851 
1,967 
6,818 
Depreciation
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 
Net book value
At 31 August 2024
- 
875 
875 
5
Investment property
2024 
£ 
Fair value at 1 September 2023
268,000 
Disposals
(148,000)
At 31 August 2024
120,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
465 
Other debtors
1,330 
1,330 
1,330 
1,795 
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 
Accruals
780 
780 
24,055 
85,281 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
69,250 
176,500 
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.
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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 
2024 
2023 
£ 
£ 
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).
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