Viva Italia Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC258297 (Scotland)

Unaudited Financial Statements

for the Period 1 June 2023 to 30 June 2024

for

VIVA ITALIA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Giuseppe Marini

REGISTERED OFFICE:

Old Bank Chambers

44 Civic Square

Motherwell

ML1 1TP

REGISTERED NUMBER:

SC258297 (Scotland)

FIXED ASSETS

Tangible assets

4

7,813,890

8,705,685

Investments

5

101

Investment property

6

522,910

8,336,901

9,228,696

CURRENT ASSETS

Debtors

7

-

2,947,144

Cash at bank

-

20,054

-

2,967,198

CREDITORS

Amounts falling due within one year

8

2,078,404

2,712,890

NET CURRENT (LIABILITIES)/ASSETS

(2,078,404

)

254,308

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,258,497

9,483,004

CREDITORS

Amounts falling due after more than one
year

9

(1,303,782

)

(4,451,181

)

PROVISIONS FOR LIABILITIES

(217,740

)

(430,850

)

NET ASSETS

4,736,975

4,600,973

CAPITAL AND RESERVES

Called up share capital

10

300,136

Retained earnings

4,436,839

4,300,837

SHAREHOLDERS' FUNDS

4,736,975

4,600,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 31 August 2025 and were signed by:

Giuseppe Marini - Director

1.	STATUTORY INFORMATION

Viva Italia Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Fixed assets are capitalised at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Land is not depreciated.

Land & buildings - 2%- 4% on a straight line basis

Plant & machinery - 10% to 33% on a straight line & reducing balance basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Departure from the companies act

The Director has elected not to prepare the consolidated accounts at the year-end required under Section 399 of the Companies Act 2006.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 June 2023

9,827,617

7,216,163

17,043,780

Disposals

(3,300,512

)

(3,999,802

)

(7,300,314

)

At 30 June 2024

6,527,105

3,216,361

9,743,466

DEPRECIATION

At 1 June 2023

3,672,516

4,665,579

8,338,095

Charge for period

78,393

112,745

191,138

Eliminated on disposal

(3,085,209

)

(3,514,448

)

(6,599,657

)

At 30 June 2024

665,700

1,263,876

1,929,576

NET BOOK VALUE

At 30 June 2024

5,861,405

1,952,485

7,813,890

At 31 May 2023

6,155,101

2,550,584

8,705,685

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2023

and 30 June 2024

101

NET BOOK VALUE

At 30 June 2024

101

At 31 May 2023

101

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2023

and 30 June 2024

522,910

NET BOOK VALUE

At 30 June 2024

522,910

At 31 May 2023

522,910

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

-

2,947,144

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts

-

55,818

Trade creditors

988,332

998,033

Taxation and social security

140,982

59,039

Other creditors

949,090

1,600,000

2,078,404

2,712,890

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2024

2023

£

Bank loans

20,630

30,478

Hire purchase contracts

-

267,435

Other creditors

1,283,152

4,153,268

1,303,782

4,451,181

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

300,134

Ordinary

£1

300,134

2

Ordinary A-J

£1

2

300,136