Silverfin false false 07/01/2025 08/01/2024 07/01/2025 Andrew Iain Simpson 03/11/2017 07 October 2025 The principal activity of the company during the financial year was running of a night club. SC580652 2025-01-07 SC580652 bus:Director1 2025-01-07 SC580652 2024-01-07 SC580652 core:CurrentFinancialInstruments 2025-01-07 SC580652 core:CurrentFinancialInstruments 2024-01-07 SC580652 core:Non-currentFinancialInstruments 2025-01-07 SC580652 core:Non-currentFinancialInstruments 2024-01-07 SC580652 core:ShareCapital 2025-01-07 SC580652 core:ShareCapital 2024-01-07 SC580652 core:RetainedEarningsAccumulatedLosses 2025-01-07 SC580652 core:RetainedEarningsAccumulatedLosses 2024-01-07 SC580652 core:LandBuildings 2024-01-07 SC580652 core:FurnitureFittings 2024-01-07 SC580652 core:ComputerEquipment 2024-01-07 SC580652 core:LandBuildings 2025-01-07 SC580652 core:FurnitureFittings 2025-01-07 SC580652 core:ComputerEquipment 2025-01-07 SC580652 core:RemainingRelatedParties core:CurrentFinancialInstruments 2025-01-07 SC580652 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-01-07 SC580652 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2025-01-07 SC580652 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2024-01-07 SC580652 bus:OrdinaryShareClass1 2025-01-07 SC580652 2024-01-08 2025-01-07 SC580652 bus:FilletedAccounts 2024-01-08 2025-01-07 SC580652 bus:SmallEntities 2024-01-08 2025-01-07 SC580652 bus:AuditExemptWithAccountantsReport 2024-01-08 2025-01-07 SC580652 bus:PrivateLimitedCompanyLtd 2024-01-08 2025-01-07 SC580652 bus:Director1 2024-01-08 2025-01-07 SC580652 core:LandBuildings core:TopRangeValue 2024-01-08 2025-01-07 SC580652 core:FurnitureFittings core:TopRangeValue 2024-01-08 2025-01-07 SC580652 core:ComputerEquipment core:TopRangeValue 2024-01-08 2025-01-07 SC580652 2023-01-08 2024-01-07 SC580652 core:LandBuildings 2024-01-08 2025-01-07 SC580652 core:FurnitureFittings 2024-01-08 2025-01-07 SC580652 core:ComputerEquipment 2024-01-08 2025-01-07 SC580652 core:CurrentFinancialInstruments 2024-01-08 2025-01-07 SC580652 core:Non-currentFinancialInstruments 2024-01-08 2025-01-07 SC580652 bus:OrdinaryShareClass1 2024-01-08 2025-01-07 SC580652 bus:OrdinaryShareClass1 2023-01-08 2024-01-07 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC580652 (Scotland)

# IV1 LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 07 JANUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

IV1 LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 07 JANUARY 2025

Contents

IV1 LIMITED

## BALANCE SHEET

AS AT 07 JANUARY 2025
IV1 LIMITED

## BALANCE SHEET (continued)

AS AT 07 JANUARY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 4,583 |  | 96,065
|  | 4,583 |  | 96,065
Current assets |  |  |  |
Stocks | 4 | 13,561 |  | 9,223
Debtors | 5 | 24,079 |  | 3,139
Cash at bank and in hand |  | 8,882 |  | 24,297
|  | 46,522 |  | 36,659
Creditors: amounts falling due within one year | 6 | ( 260,278) |  | ( 224,146)
Net current liabilities |  | (213,756) |  | (187,487)
Total assets less current liabilities |  | (209,173) |  | (91,422)
Creditors: amounts falling due after more than one year | 7 | ( 582,778) |  | ( 586,813)
Net liabilities |  | ( 791,951) |  | ( 678,235)
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1 |  | 1
Profit and loss account |  | ( 791,952 ) |  | ( 678,236 )
Total shareholder's deficit |  | ( 791,951) |  | ( 678,235)

For the financial year ending 07 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of IV1 Limited (registered number: SC580652) were approved and authorised for issue by the Director on 07 October 2025. They were signed on its behalf by:

Andrew Iain Simpson Director |

IV1 LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 07 JANUARY 2025
IV1 LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 07 JANUARY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

IV1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Highview House, Inshes, Inverness, IV2 5BA, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

These financial statements have been prepared on the going concern basis. The company is reporting a loss for the financial period and it has net current liabilities of £213,756 (2024 - £187,487) and net liabilities at the balance sheet date of £791,951 (2024 - £678,235) therefore it is reliant on the loan funding provided by related parties. The related parties continue to provide financial support to allow liabilities to be met as they fall due and will not seek repayment of the amounts outstanding to the detriment of IV1 Limited, and until the company is in a position to do so. Consequently, the Director considers that the going concern basis remains appropriate.

##### Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised on the accrual basis.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 5 years straight line
Fixtures and fittings | 5 years straight line
Computer equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.
At each reporting date, an assessment is made for impairment.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 5 |  | 1

#### 3. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 08 January 2024 | 568,484 |  | 212,417 |  | 5,838 |  | 786,739
At 07 January 2025 | 568,484 |  | 212,417 |  | 5,838 |  | 786,739
Accumulated depreciation |  |  |  |  |  |  |
At 08 January 2024 | 484,049 |  | 202,839 |  | 3,786 |  | 690,674
Charge for the financial year | 84,435 |  | 5,270 |  | 1,777 |  | 91,482
At 07 January 2025 | 568,484 |  | 208,109 |  | 5,563 |  | 782,156
Net book value |  |  |  |  |  |  |
At 07 January 2025 | 0 |  | 4,308 |  | 275 |  | 4,583
At 07 January 2024 | 84,435 |  | 9,578 |  | 2,052 |  | 96,065

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 13,561 |  | 9,223

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 450 |  | 450
Other debtors | 23,629 |  | 2,689
| 24,079 |  | 3,139

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,403 |  | 10,147
Trade creditors | 59,678 |  | 10,441
Amounts owed to related parties | 183,228 |  | 182,952
Other taxation and social security | 0 |  | 4,405
Other creditors | 6,969 |  | 16,201
| 260,278 |  | 224,146

The bank loan of £10,403 consists of a Coronavirus Bounce Bank Loan of £10,403 which is guaranteed by the UK Government.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,154 |  | 14,557
Amounts owed to related parties | 578,624 |  | 572,256
| 582,778 |  | 586,813

The bank loan of £4,154 consists of a Coronavirus Bounce Bank Loan of £4,154 which is guaranteed by the UK Government.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 9. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 761,852 |  | 755,208

The above balances are interest free, unsecured, and have no fixed terms of repayment.

#### 10. Ultimate controlling party

Parent Company:

Highview Property Limited
Highview House, Inshes, Inverness, Inverness-Shire, IV2 5BA.