Viewpoint Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06811446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

VIEWPOINT PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Tsirtsipis

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

06811446 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

1,200,000

1,200,000

CURRENT ASSETS

Debtors

5

-

39,374

Cash at bank and in hand

1,476

74

1,476

39,448

CREDITORS

Amounts falling due within one year

6

205,055

245,994

NET CURRENT LIABILITIES

(203,579

)

(206,546

)

TOTAL ASSETS LESS CURRENT LIABILITIES

996,421

993,454

CREDITORS

Amounts falling due after more than one year

7

(170,930

)

(187,370

)

PROVISIONS FOR LIABILITIES

10

(64,500

)

(64,500

)

NET ASSETS

760,991

741,584

CAPITAL AND RESERVES

Called up share capital

11

2

2

Fair value reserve

12

495,572

495,572

Retained earnings

265,417

246,010

SHAREHOLDERS' FUNDS

760,991

741,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 November 2020 and were signed by:

Mr T Tsirtsipis - Director

1.	STATUTORY INFORMATION

Viewpoint Properties 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.

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 as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 April 2019

and 31 March 2020

1,200,000

NET BOOK VALUE

At 31 March 2020

1,200,000

At 31 March 2019

1,200,000

Cost or valuation at 31 March 2020 is represented by:

Freehold

property

£

Valuation in 2017

210,072

Valuation in 2018

350,000

Cost

639,928

1,200,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.3.20

31.3.19

£

£

Cost

639,928

639,928

Freehold land and buildings were valued on an open market basis on 31 March 2020 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

16,400

Other debtors

-

22,974

-

39,374

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts (see note 8)

53,493

77,377

Tax

13,666

14,095

VAT

1,980

1,980

Directors' current accounts

133,616

150,942

Accrued expenses

2,300

1,600

205,055

245,994

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans (see note 8)

170,930

187,370

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,456

17,395

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.20

31.3.19

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

29,941

Bank loans

53,493

47,436

53,493

77,377

Amounts falling due between one and two years:

Bank loans - 1-2 years

53,493

47,436

Amounts falling due between two and five years:

Bank loans - 2-5 years

113,981

122,539

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,456

17,395

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank overdraft

-

29,941

Bank loans

224,423

234,806

224,423

264,747

10.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

64,500

64,500

Deferred

tax

£

Balance at 1 April 2019

64,500

Balance at 31 March 2020

64,500

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

2

Ordinary

1

2

2

12.

RESERVES

Fair

value

reserve

£

At 1 April 2019

and 31 March 2020

495,572