Company Registration No. SC464676 (Scotland)
Vinebank Ventures Limited
Unaudited accounts
for the year ended 31 December 2024
Vinebank Ventures Limited
Unaudited accounts
Contents
Vinebank Ventures Limited
Company Information
for the year ended 31 December 2024
Directors
Fraser Daniel Galloway
Kate Sophie Galloway
Company Number
SC464676 (Scotland)
Registered Office
11 House O'Hill Gardens
Edinburgh
EH4 2AR
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Vinebank Ventures Limited
Accountants' report
Accountants' report to the board of directors of Vinebank Ventures Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Vinebank Ventures Limited for the year ended
31 December 2024 as set out on pages
5 -
7 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 Vinebank Ventures 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 Vinebank Ventures 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 Vinebank Ventures Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Vinebank Ventures 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 loss of Vinebank Ventures Limited. You consider that Vinebank Ventures 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 Vinebank Ventures 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.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
31 May 2025
Vinebank Ventures Limited
Statement of financial position
as at 31 December 2024
Investment property
299,265
299,265
Cash at bank and in hand
3,001
359
Creditors: amounts falling due within one year
(295,220)
(291,322)
Net current liabilities
(292,219)
(287,218)
Called up share capital
100
100
Profit and loss account
6,946
11,947
Shareholders' funds
7,046
12,047
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Fraser Daniel Galloway
Director
Company Registration No. SC464676
Vinebank Ventures Limited
Notes to the Accounts
for the year ended 31 December 2024
Vinebank Ventures Limited is a private company, limited by shares, registered in Scotland, registration number SC464676. The registered office is 11 House O'Hill Gardens, Edinburgh, EH4 2AR.
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.
Investment property is included at market fair value.
The financial statements have been prepared on a going concern basis on the grounds that the Director and shareholder has confirmed he will continue to financially support the company and that the loan will not be called in within the 12 month period from the balance sheet date.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Vinebank Ventures Limited
Notes to the Accounts
for the year ended 31 December 2024
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Fair value at 1 January 2024
299,265
At 31 December 2024
299,265
Property fair values are valued by the director, based on the open market value at the balance sheet date. The director confirmed that there as no movement in the fair value of the investment property.
Amounts falling due within one year
Accrued income and prepayments
-
2,832
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,593
1,319
Loans from directors
293,627
290,003
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).