REGISTERED NUMBER: 04127771 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Viewdart Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J P W Roe

REGISTERED OFFICE:

1 Fenlake Business Centre

Fengate

Peterborough

Cambridgeshire

PE1 5BQ

REGISTERED NUMBER:

04127771 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

4,842,629

4,842,629

CURRENT ASSETS

Debtors

5

324,589

857,962

Cash at bank

2,032

32,418

326,621

890,380

CREDITORS

Amounts falling due within one year

6

1,482,524

1,420,856

NET CURRENT LIABILITIES

(1,155,903

)

(530,476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,686,726

4,312,153

CREDITORS

Amounts falling due after more than one year

7

3,609,348

4,304,056

NET ASSETS

77,378

8,097

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

77,278

7,997

SHAREHOLDERS' FUNDS

77,378

8,097

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 by the director and authorised for issue on 18 September 2025 and were signed by:

J P W Roe - Director

1.	STATUTORY INFORMATION

Viewdart Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis which assumes that the directors together with North West Steel Limited, the parent company of the group, will continue to support the Company. If this support was not to continue then the basis may not be appropriate.

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents net invoiced provision of services, excluding value added tax.

Turnover is recognised in the year to which it relates.

Tangible fixed assets

Plant and machinery is carried at cost less any accumulated impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provision 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.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in the 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 would the impairment not previously not been recognised.

Taxation

Taxation for the year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

4,842,629

NET BOOK VALUE

At 31 December 2024

4,842,629

At 31 December 2023

4,842,629

An impairment charge is recognised in the statement of profit or loss whenever the carrying amount of an asset exceeds its recoverable amount.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

758,920

Other debtors

324,589

99,042

324,589

857,962

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

36,298

44,245

Amounts owed to group undertakings

1,242,354

1,199,766

Taxation and social security

196,724

170,650

Other creditors

7,148

6,195

1,482,524

1,420,856

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

3,609,348

4,304,056

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J P W Roe

Balance outstanding at start of year

84,657

(398

)

Amounts advanced

1,431,982

1,102,980

Amounts repaid

(1,412,085

)

(1,017,925

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

104,554

84,657

The advance was repaid shortly after the year end.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Entities Under Common Control

The company charged £615,558 (2023: £638,920) for travel costs to related parties.

At the year end, a balance of £3,609,348 was owed to (2023: £3,543,700) related parties.

Transactions with Directors

During the period the group charged travel costs of £174,420 (2023: £64,000) to a director of the company on market value terms. The director made purchases of 1,412,085 (2023: £1,017,925) on behalf of the company. The amount outstanding to the company at the year end was £104,554 (2023: £84,657). This was repaid shortly after the year.

12.	ULTIMATE CONTROLLING PARTY

The company's parent undertaking is North West Steel Limited. The registered office of the parent undertaking is 1 Fenlake Business Centre, Fengate, Peterborough, Cambridgeshire, PE1 5BQ. This is also the principle place of business.